Question

Learning goals
Be able to:

Research and develop a business presentation to regulators about FinTech security and regulation (RegTech) in their country.
You are working as a consultant in the area of FinTech security & regulation. Research and put together a report to regulators with the following:

Assignment topic: What are / should regulators doing / do about (X) in (Y)?
where X is the FinTech application (X) and Y is the financial market.
X=
1. Cryptocurrencies & ICOs
2. Virtual Banking
3. Peer-to-peer lending
4. Payment system
(Choose one of the above)
Y =
1. Hong Kong
2. Singapore
3. Dubai
4. South Korea(Choose one of the above)
Notes:
Your pitch should be persuasive & convincing, & get the right argument that can influence regulators.
Write your assignment topic including the values of X and Y chosen (For example X=1, Y=1: What are / should Regulators doing / do about Cryptocurrencies & ICO in Hong Kong)
Write 1500 - 2000 words in written report. File size should be less than 10MB.
Marks are given in accordance to: Presentations, feasibility, coverage, relevancy, practicability, correctness, etc.

Answer 1

I am selecting the following and giving you base points. Please develop on these

"what should regulators do about peer to peer lending in South Korea"

1) Need to ensure Know Your Customers (KYC) norms are ensured.

2) The portal should ensure the credit worthiness of the borrowers on the platform.

3)There should be a policy on recovery in case of defaults including but not limited to legal measures, recovery on call and hiring of agents.

4) Need to ensure the liquidity and solvency of the lenders.

5) There should be norms to define the Rate of Interest and penalties to protect the borrower

6)The privacy of both the lenders and borrowers need to be ensured.

7) There should be strict measures on data protection, sharing and utilisation.

8)Maketing and sales guidelines need to be ensured so that true facts are presented.