FinTech

‘FinTech’ is a result of technological change in the field of financial markets. ‘FinTech’ business models pose two major challenges to financial supervisory law: Every ‘FinTech’ regulation is caught between the need to protect the financial market and the challenge of not overburdening ‘FinTech’ business models with requirements. In order to determine the need for regulatory action, this study examines and legally classifies the business models of a total of four types of ‘FinTechs’ from the securities sector. In particular, it investigates the economic consequences of regulation on ‘FinTechs’, while also presenting the importance of ‘soft law’ and its legal limits. The result of this classification is to identify grey areas, i.e. areas with little or no regulation. In addition to the legal classification, the study identifies the significance of ‘FinTechs’ for financial markets and society.