London Governance & Compliance Academy

Fintech, DeFi and the Regulators

Michael Stafferton

Fintech, DeFi and the Regulators

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Course Overview 

The advent of e-money licenses has been seized upon by a number of fast-growing Fintechs, who aim to disrupt existing retail and commercial financial service providers, and in particular banks, in the same way the internet has challenged many ‘bricks-and-mortar’ retailers.  

The ultimate Fintech may be Meta’s proposed Diem global stablecoin. However, there are several key regulatory obstacles, such as data protection and AML. The collapse of one of the pre-eminent European Fintechs, Wirecard, has further highlighted the risks and regulatory issues. This course explains which areas of business the Fintechs are targeting, how the regulators’ approach is critical, the opportunities and obstacles and how the incumbents are responding.

DateTBD 
Time08:30 – 11:15 UK Time
Duration5 hours
PriceGBP 325 (excl. VAT)

Training Objectives

By the end of the course participants will understand:

  • Which business areas the challengers are targeting 

  • How they aim to do this 

  • The various regulatory aspects involved 

  • Their various business models 

  • The viability of their approaches 

  • How much impact they are having 

  • How incumbents are responding 

 

 

Training Outline

 

  • Introduction: what is a Fintech 

  • The key components of the standard banking business model 

  • Peer-to-peer platforms and the challenges the model faces, e.g. Zopa 

  • E-money licenses and Payments services, e.g. Venmo 

  • FX payments – e.g. Transferwise, Revolut 

  • Facebook’s Libra and the regulatory challenges it faces 

  • Internet-only banks – e.g. N26 v Metro Bank 

  • How incumbents are fighting back 

  • Cryptocurrencies and ‘Defi’ – a currency or an asset?

  • Stablecoins, Tether, etc.

  • The possibility of Central Bank Digital Coins (CBDCs) and their wider implications

 

Who should attend 

The course will provide essential knowledge for anyone involved in retail and commercial financial services, including regulators. 

 

Industry Expert | Michael Stafferton 

Michael began his financial markets career in 1986 on the Financial Engineering desk at Yamaichi International, then one of the so-called ‘Big Four’ Japanese securities houses. The desk was mainly responsible for designing, structuring and swapping vanilla and structured bond issues for European clients. He then moved to a coverage role, predominantly in the UK and Eire, with responsibility for some of the more technically demanding clients, including the Bank of England and the European Investment Bank. He greatly expanded the volume of deals done, including a government, major banks, building societies and corporates. The role also involved working on UK privatisations and with the bank and fund management arm. In 1994 he moved to Kleinwort Benson with responsibility for debt, convertible and tax-structured origination with a number of top UK companies and helped launch an FRN.

 

He has been training across a wide spectrum of cash instruments, derivatives, commodities and in risk management and regulation since 1999, at up to senior management level globally, his clients comprising mainly the top tier investment banks and fund managers, and is the author of a textbook on credit derivatives (Credit Derivatives Workbook, Euromoney, 2004).

 

 

Training Style 

 

The course describes the various Fintech areas and also includes number of case studies of current Fintechs. With each the aim is to facilitate discussion on the various attributes of the different offerings in order to assess how significant they may be. 

 

 

CPD Recognition

 

This programme may be approved for up to 5 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

 

 

Additional Details

Price - 325

Duration - 5

CPDs - 5

Event registration closed.
 

Date And Time

- 08:30 to
11:15
 

Location

 

Venue

Live Online (Zoom)
 

Event Category

On-Demand

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