FinTech: Law and Regulation (Elgar Financial Law and Practice)

FINTECH AND THE LAW:JUST ABOUT EVERYTHING YOU WANTED TO KNOW IS NOW REVEALED IN THIS BOOKAn appreciation by Elizabeth Robson Taylor of Richmond Green Chambers and Phillip Taylor MBE, Head of Chambers, Reviews Editor, “The Barrister”, and MediatorWhat is FinTech? Those of us not exactly in the know might well ask — and thereby appreciate — the succinct, yet detailed explanation helpfully provided in the introduction to this book by editor Jelena Madir. Published by Edward Elgar Publishing Limited, the book goes on from there to cover a broad spectrum of FinTech-related issues.The subject is a diverse and complex one. Much of what has been written about it reads like science fiction. But no — FinTech is with us in the here and now; functioning efficiently, indispensable and ever on the brink of further development. This is the field in which the future for lawyers has become the present, which is why practitioners involved in any aspect of FinTech (or who plan to be) should get hold of this book. This, as referred to in the editor’s preface, is the ‘technology-driven metamorphosis of the financial services sector (which) continues to push the boundaries of the traditional areas of law.’Basically, the term ‘FinTech’ refers to ‘internet and smartphone enabled financial innovations that have risen to prominence since the global financial crisis of 2008.’ As FinTech encompasses financial products and services delivered to customers in, for example, banking, insurance and investment (and more), issues of consumer protection in the face of technological change do come to mind and are discussed extensively.Divided logically into four parts, the book provides expert commentary from no less than thirty-one expert contributors. By way of introduction, Part I explains the various applications of FinTech within such areas as banking and fundraising, including crowd funding. Part II deals with the applications of blockchain and the attendant legal and regulatory challenges which are further examined in Part III. Here the focus is on the main regulatory and compliance issues in which the editors refer to ‘the heightened pressure to strike a sensible balance’ between innovation and consumer protection.Especially relevant for lawyers is Part IV which discusses technological innovations in legal services, comparing in particular, ‘LegalTech' and FinTech. Much emphasis is placed on the need for lawyers to understand the technology with a view to developing ‘the skill sets required in the marketplace of the future.’ There can’t be many lawyers out there who wouldn’t profit from the insights, advice and information on FinTech delivered in this book,The publication date of this hardback book is cited as at 2nd September 2019. It is also available as an ebook.