{"product_id":"driverless-finance-fintechs-impact-on-financial-stability-9780197626801","title":"Driverless Finance: Fintech's Impact on Financial Stability","description":"Everyone is talking about fintech, and they're usually saying good things. \u003cem\u003eDriverless Finance\u003c\/em\u003e provides a balance to that conversation, exploring the threats that different fintech innovations pose for our financial system. With in-depth and accessible descriptions of new financial\u003cbr\u003etechnologies and business models - ranging from distributed ledgers to machine learning, cryptoassets to robo-investing - this book allows readers to think more critically about fintech, and about how the law should respond to it. \u003cp\u003e\u003c\/p\u003eThis book highlights the increased speed, complexity, and coordination inherent in new fintech innovations, and illustrates how these features could come together in a massive financial system failure. It makes the case for a precautionary approach to regulating fintech, erring on the side of\u003cbr\u003ecaution to avoid a financial crisis that could have irreversible and catastrophic effects for our society. Because neither longstanding regulatory approaches nor experimental new approaches like regulatory sandboxes were designed to address fintech's systemic risks, this book makes several bold new\u003cbr\u003eproposals for regulation designed to make fintech-inspired financial crises less likely. These proposals include new forms of disclosure and supervision, new forms of technological tools (known as suptech), and a new licensing regime for financial technologies. This book finishes by situating its\u003cbr\u003ediscussion of fintech and financial stability in the context of important debates about innovation, expertise, cybersecurity, privacy, competition, and other pressing issues.\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cstrong\u003eHilary J. Allen\u003c\/strong\u003e is a Professor at the American University Washington College of Law, where she teaches courses in corporate law and financial regulation. She has published numerous articles on fintech and financial stability regulation in academic journals and the popular press. Prior to entering academia, Professor Allen spent seven years working in the financial services groups of prominent law firms in London, Sydney, and New York, and in 2010, she worked with the Financial Crisis Inquiry Commission appointed by Congress to study the causes of the financial crisis of 2008.\u003cbr\u003e","brand":"Oxford University Press","offers":[{"title":"Default Title","offer_id":50496720863506,"sku":"9780197626801","price":49.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0831\/4771\/8930\/files\/img_2c478d37-ad39-429c-9b58-b3b906b78ab3.jpg?v=1730700483","url":"https:\/\/surprise-castle.myshopify.com\/products\/driverless-finance-fintechs-impact-on-financial-stability-9780197626801","provider":"Surprise Castle","version":"1.0","type":"link"}