Welcome back to our course on FinTech Security and Regulation. In this last week of lectures, we're going to be looking at Global Trends and Government Initiatives in RegTech. In many ways, this is my favorite module of this course because it's what's new, what's coming, what's exciting, what's changing. We've set some foundation and principles. We've defined what is RegTech. We've looked at InsureTech. We've looked at risk. We've looked at fraud. We've looked at the background of FinTech, RegTech, security regulation in general, but now, we're going to look and say, so what's new? What's exciting? What's fun? So, if you've felt like, I'm getting a little tired of hearing about the world as it was. We're now going to talk about the world as it may become. Now, in this module, we're going to talk about six different areas of focus or initiatives. One is what's happening in the UK with open banking initiatives. Why the UK? Well, it's not because we love all things London, it's because it's one of the leading markets in the world in terms of regulation and government initiatives related to technology and FinTech and effectively what you could call RegTech because it's regulations to open the borders and open boundaries of organizations and data and collaborative initiatives. So, what's happening with open banking? That's kind of cool, open APIs. The second session is going to look at regulations on FinTech in US, specifically looking at US regulations and regulatory rules, but also European regulations which are similar in many ways on various aspects of FinTech. So what are regulators thinking about? What are they doing in Europe and in US and in other countries? We'll then look specifically in lecture three about cryptocurrencies and ICOs and how those may or may not be regulated and how that's changing evolving and different from country to country, and so what's happening in the whole crypto world is one area of opportunity. Now, I have to apologize a little bit for that because what's happening in the whole crypto world is volatility and change and anything that we say today may become outdated very quickly by something new that happens. But in general, we're talking about changes in a dynamic world. We're not saying this country will regulate in this way, but here's some examples of the ways that countries are thinking about in approaching and evolving in crypto regulations. Fourth, FinTech innovations by government. This is a case study, and this case study of Berkeley issuing an ICO as a government to fund a government activity, and that's kind of interesting. It's a creative way of using an ICO to bypass investment banking, traditional structures, and traditional bond issuance. Fifth, we'll look at China. Why China? Why we single out China? Well, China's the biggest FinTech market in the world in terms of adoption, and it has a lot of regulations that are relatively unique or unusual, and the incentives of regulators in China are not always the same as the incentives of regulators or motivation of regulators in other countries. So, it's important if you're really interested in Global Fintech markets to gain some sense of what's happening in China and why is China perhaps different in some ways than what you might be used to if you're used to dealing with governments and regulations outside of China. Finally, we'll look at Hong Kong and Singapore and some other markets, and what they are doing that's innovative and creative in RegTech and that will help also with leading into the final project and our fifth week where we'll be looking at how should regulators be thinking about regulating RegTech and FinTech in Hong Kong, Singapore or other markets. Not US, not Europe not China but more smaller countries across Middle East of Asia, and how would you think about our country gaining some advantage or having some differentiation in thinking about our regulation or should we copy the majors. So, that's our look at government trends, global trends, and government initiatives in the RegTech space. We look forward to having you in our six sessions.
