•  
  • University of New South Wales
  • Macquarie University
  • The University of Sydney
  • University of Technology Sydney
  • Australian National University
  • The University of Melbourne
  • Capital Markets
  • Sirca
  • Commonwealth Bank
  • KPMG
  • King & Wood Mallesons
  • Macquarie
  • Australian Government - Treasury
  • New South Wales Goverment
 
 
 
 

 

EVENT SPONSORS 

 

 

 

 

 

 

UNSW Law, CIFR and the United Nations Capital Development Fund (UNCDF) were pleased to organise a conference on the topic: “Regulating the Revolution: Rethinking the Regulation of Digital Financial Services” in Sydney on 10 and 11 December 2015. The conference was hosted by the New South Wales Government Department of Industry.

 

The conference was part of a CIFR-funded research project led by Professor Ross Buckley, CIFR King & Wood Mallesons Chair of International Financial Law and Scientia Professor at UNSW Australia. The conference attracted 78 participants from 20 countries including governors and other senior representatives of ten central banks, and challenged participants to rethink how digital financial services might be more effectively regulated.

 

Over the course of the two days it became increasingly apparent that concepts such as “Know Your Customer”, which was developed when customers presented in person at a bank branch, fit uncomfortably with the modern realities of digital finance, and that the current regulatory framework is ill-adapted to the regulation of the growing array of digital financial services. It would be far more cost effective and efficient to focus on regulating the networks over which these services are delivered and to ensure that appropriate regulations are incorporated into the design of these services.

 

 

 

CONFERENCE NOTES

 

The document is compiled based on notes taken by UNSW Research Assistants and Research Fellows and presentation slides during conference proceedings.

 

Download Conference Notes

 

 

CONFERENCE PRESENTATIONS  I  MEDIA COVERAGE  I PRE-READING MATERIALS

 

 

More event photos

 

 

CONFERENCE PRESENTATIONS

 

Day 1       Day 2

Introduction
Professor Ross Buckley, UNSW Australia

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Digital Financial Services and Regulation In China

Dr Wei Huan Zhou, UNSW Australia and Mr Janos Barberis, Fintech HK

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Rethinking the Regulatory Approach

Professor Ross Buckley, UNSW Australia
Download Presentation

      Digital Financial Services in Europe - Quo Vadis?
Dr Ulf Klebeck, Woodman Asset Management AG
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A Regulator's Role in Building Consumer Demand for DFS

Louise Malady, UNSW Australia
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Consumer Protection for DFS: An International Perspective
Ros Grady

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Risks of the Risk-Based Approach
Professor Louis de Koker, Deakin University
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      Customer Centricity & Digital Finance Regulation and Supervision
Eric Duflos, CGAP
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Use of Agents

Dr Federico Lupo-Pasini, Queens University of Belfast
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Challenges in Protecting Consumers in Digital Finance
Tillman Bruett, UNCDF

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Reconceiving the Arteries of Digital Finance

Dr Nicholas Gruen, Lateral Economics
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Overall Themes, Insights and Takeaways

Professor Ross Buckley, UNSW Australia

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FinTech: Evolution and the Challenge for Regulation

Professor Douglas W. Arner, University of Hong Kong

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For Speakers' Biographies and Event Agenda
Download the Conference Program
 

Protecting M-money Customers' Funds in Civil Law Jurisdictions

Javier Solana, Oxford University
Download Presentation

     

Structural Issues in Protecting the Float: A Policymaker's Manual

David Ramos Muñoz, Universidad Carlos III de Madfrid

Download Presentation

     

 


REGULATORY HANDBOOK

 

 

The Enabling Regulation of Digital Financial Services

 

Present approaches to regulating Digital Financial Services (DFS) have limited the opportunities for the deepening of financial inclusion, and suggest an urgent need to reconceptualise regulatory approaches. This handbook, in response to these challenges, aims to provide policy makers and financial regulators in emerging markets a practical and comprehensive guide on how to effectively regulate DFS. This handbook was launched at the conference

 

Download Handbook

 


MEDIA COVERAGE

 

Digital payments are coming - and life will be different
The Sydney Morning Herald and Canberra Times
04 December 2015

 

Small scale limits need for fintech controls
Financial Observer
11 December 2015

 

Why regulators must encourage digital innovation
INFINANCE
14 December 2015

 

The big cultural challenge facing central banks

AB+F

14 December 2015

 

 

PRE - CONFERENCE READING MATERIAL

 

Breifing Note 1 - Using Trusts to Protect Customers’ Mobile Money Funds           

 

Breifing Note 2 - The Role of Regulators in Building Consumer Demand for Mobile Money

 

Breifing Note 3 - Regulating the Use of DFS Agents in Developing Countries

 

Briefing Note 4  - Protecting Customers' Mobile Money Funds in Civil Law Jurisdictions

 

 

 
 
 
 
 

 

The Centre for International Finance and Regulation (CIFR) represents a strategic link between academia, financial regulators, policy makers and industry, promoting financial sector vibrancy, resiliency and integrity, through leading research and education.

CIFR receives funding and support from the Commonwealth and NSW Governments, and its industry, university and research centre partners.

 

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