The course is one of the elective educational activities of the Master Degree in Global Development and Entrepreneurship, curriculum Enterpreneurship.
The course is part of the Jean Monnet Chair in Digitalisation in EU Financial Studies (EUDIFIN).
The EUDIFIN Chair contributes to the political and scholarly debate revolving around the challenges the European Union faces to make a proper use of financial innovation to further market integration and risk sharing in the internal financial market (both key objectives of the drive to build the Capital Markets Union). The Chair aims to integrate such cutting-edge developments into three courses: “International Financial regulation”, “Banking and Financial Markets Law”, and “FinTech Law and Financial Innovation” (36 hours each = 30h “foundational” lectures + 6h “in focus” lectures).
The three courses hence branch out three trajectories, which are projected at: i) studying the revolutionary changes in the structure of financial markets and how they relate to the general framework and the principles that govern EU financial law and supervision (institutional trajectory); ii) deepening the studies relating to the regulatory objectives of EU financial law, supervisory and regulatory powers and financial integration. It will do so by dealing with the EU market integration legislative initiatives vis-à-vis the break-throughs in data processing and sharing technology (substantive trajectory); and iii) addressing the increasing labour market demand for professional expertise in the ambit of advanced data analytics and cloud computing and their application to financial markets and financial products (methodological trajectory).
“Banking and Financial Markets Law” addresses the “substantive” level of EU financial and banking law – that is the rules projected at realising the single market.
The course aims, first, to analyse whether and how the financial regulatory objectives are influenced by financial innovation (namely financial stability, consumer protection and market integrity). Second, it aims to study thoroughly the substantive areas and rules affected by digitalisation and innovation, i.e. retail financial services, cross-border payments consumer and mortgage credits, and AML legislation.
This course deals with a very timely topic. On the one hand, new financial innovations and new market entrants (e.g. FinTech companies) prompt policy makers to question the scope of the regulatory objectives of consumer protection and financial stability respectively. On the other, brand-developments in IT bring up risks (i.e. cyber security) that have only recently materialised.