Fintech Regulation and Supervision Challenges within the Banking Industry: A Comparative Study within the G-20

Felix I. Lessambo

Strengthening financial sector regulatory arrangements has been a major focus of the G-20 since the crisis in 2008, and progress in strengthening financial regulations is often cited as its success. Nonetheless, the overall contribution of the G20 as a political forum for the oversight of international financial regulation is diming as FinTech is blurring the boundaries between intermediaries and markets, as well as between digital service providers moving into the financial space, nonbank financial companies, and banks. As FinTech grows rapidly, the importance of regulation and supervision becomes more prominent.

The three cornerstones of banking: taking deposits, making loans, and facilitating payments are being reassembled functionally and digitally outside of the bank regulatory perimeter by certain firms. No crypto firm to date is subject to comprehensive consolidated supervision, creating gaps in supervision alongside risks. This book aims to provide a comparison between the various available approaches, models, or legislations by identifying certain key legislative policies within the G-20 as they cope with innovative financial technologies, and will be of interest to scholars, students, and practitioners of banking, financial regulation, risk management, and financial technology.

Table of Contents: Banking Regulation and Fintech Challenges; International Standard Setting Boards; national FinTech regulation and supervision chapters covering the United States, EU, Germany, France, Italy, Spain, UK, China, India, South Korea, Indonesia, Canada, Australia, Switzerland, Russia, Brazil, Argentina, Mexico, Saudi Arabia, Turkey and South Africa; Sandbox and Innovation Test Bed Case Study.

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Q&A

Who is this book for?
Scholars, students and practitioners of banking, financial regulation, risk management and financial technology.

What jurisdictions does it compare?
Banking and fintech regulators across all G-20 members, from the US Federal Reserve to central banks in Brazil, India, China and South Africa.

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