PREFACE

     This site presents free supplemental materials for Barr, Jackson & Tahyar, Financial Regulation: Law and Policy (Foundation Press, 3d ed., 2021). One of the authors, Michael S. Barr, Vice Chair of the Federal Reserve for Supervision and member of the Federal Reserve Board of Governors, did not participate in compiling the materials posted on this site. This version of the supplement begins with modules on three areas of current interest: digital assets, climate change, and racial equity. Thereafter, these materials are organized by chapter and cover important developments since the third edition went to press at the start of the third quarter of 2021. In some cases, we also include older documents that instructors may wish to emphasize in their courses.
     If you have suggestions about additional materials that should be posted here or included in the third edition, please contact Howell Jackson at hjackson@law.harvard.edu and Meg Tahyar at margaret.tahyar@davispolk.com.
     Good luck. 

 

Updated: July 22, 2022

Fintech Law: The Case Studies

 Fintech Law The Case Studies Front CoverOver the past two years, two of the authors – Howell Jackson and Meg Tahyar – have been teaching a Fintech module at Harvard Law School and have developed a series of fourteen case studies that offer students an opportunity to explore the kinds of challenges that technological developments are posing for practicing attorneys in the field of financial regulation. These case studies have now been published in an eBook, Howell E Jackson & Margaret E. Tahyar, Fintech Law: The Case Studies (July 2020). There is also a Teacher’s Manual available to instructors upon request. Additional case studies on other topics of financial regulation are available from the Harvard Law School Library. All of these case studies are also listed below following the relevant chapters of the textbook.

    DIGITAL ASSETS MODULE

         The pace of digital asset regulation has accelerated dramatically since the third edition went to press in 2021. Advancements in this cutting-edge technology raise fresh legal questions that have prompted policymakers to reconsider existing regulatory frameworks. This module highlights several such developments in digital asset regulation.

    Legislation

    Administrative and Executive Materials

    Stablecoins and Central Bank Digital Currency

    Emerging Regulatory Frameworks

    Letters from Regulators

    Statements from Congress

    Speeches, Statements, and Hearings

    Stablecoins and Central Bank Digital Currency

    Emerging Regulatory Frameworks

    Reports

    Enforcement Materials

    Other Resources

    Industry Commentary

    Academic Commentary

    Law Firms

    CLIMATE CHANGE MODULE

         Financial regulators and market participants have been closely monitoring the effects of climate change on the financial industry in recent years. As a result, the rate of policy development in climate-related risk management will likely accelerate in 2022 and beyond. This module presents a variety of prospective developments anticipated to have an impact on the financial services sector.

    Administrative and Executive Materials

    Federal Regulations or Proposals

    Letters from State Regulators

    International Regulatory Frameworks

    Speeches, Statements and Hearings

    Cases

    Other Resources

    Industry Commentary

    Reports and Academic Commentary

    Law Firms

     

    RACIAL EQUITY MODULE

         Over the last two years, there has been a seismic shift in the conversations surrounding racial equity. To illustrate, over 90 federal agencies, including all Cabinet-level agencies and more than 50 independent agencies, have implemented action plans related to diversity, equity and inclusion. This module covers current policy developments in the financial services sector relevant to diversity, equity, and inclusion to continue these dialogues and highlight ongoing efforts.

    Administrative and Executive Materials

    Legislation

    Federal Regulations or Proposals

    Letters

    Statement, Speeches, Hearings

    Other Resources

    PART I. INTRODUCTION TO FINANCIAL REGULATION

    1.1. Finance Today

    1.2. The History of U.S. Financial Regulation: A Thematic Overview

    1.3. Regulatory Frameworks

    1.4 Regulatory Perimeter

    1.5 A Tour of Financial Statements

     

    HLS Case Studies for Part I

    PART II. INSURED DEPOSITORY INSTITUTIONS

    2.1. The Impact of Charter Choice

    2.2. Activities Restrictions and the Business of Banking

    2.3. Portfolio Diversification and Affiliate Transactions

    2.4. Deposit Insurance

    2.5. Capital Regulation: An Introduction

    2.6. Capital Regulation: Pre-Financial Crisis to Basel II

    2.7. Capital Regulation: Basel III and Beyond

     

    HLS Case Studies for Part II

    PART III. INSURANCE

    3.1. Introduction to Insurance Regulation

    3.2. The Protection of Consumers in Insurance Regulation

    3.3. The Role of Federal Government in Insurance Regulation

     

    HLS Case Studies for Part III

     

    PART IV. SECURITIES FIRMS AND CAPITAL MARKETS

    4.1. Introduction to the Regulation of Securities Firms

    4.2. Securities Firms and the Retail Investor

    4.3 Securities Firms in Corporate Transactions

    4.4. Exchanges and Trading

     

    HLS Case Studies for Part IV

    PART V. CONSUMER PROTECTION AND THE CFPB

    5.1. The Consumer Financial Protection Bureau

    5.2. Mortgages

    5.3. Consumer Financial Products and Services

    5.4. Comparing Consumer Protection Models Across Sectors

    HLS Case Studies for Part V

     

    PART VI. FINANCIAL CONGLOMERATES

    6.1. Regulation of Holding Companies

    6.2. Regulation of Bank Market Structure and Consolidation

    6.3. Regulating Systemic Risk

    6.4. Foreign Banks in the United States and U.S. Banks Abroad

     

    HLS Case Studies for Part VI

    PART VII. PAYMENT SYSTEMS

    7.1. Introduction to Payment Systems

    7.2. Examining Critical Issues in Payment Systems

     

    HLS Case Studies for Part VII

     

    PART VIII. CORPORATE GOVERNANCE, SUPERVISION, AND ENFORCEMENT

    8.1. Corporate Governance

    8.2. Supervision

    8.3. Enforcement

     

    HLS Case Studies for Part VIII

    • HLS Case Study - Wells Fargo Corporate Governance - Oct. 2017 -- Case study could be used in connection with Chapters 8.1 and 8.2 to explore the appropriateness of the Federal Reserve's bringing formal enforcement actions against the directors of Wells Fargo.
    • HLS Case Study - Administrative Law (to come August 2022)
    • HLS Case Study - Investigation (to come 2022)

     

    PART IX. LENDER OF LAST RESORT AND RESOLUTION

    9.1. Lender of Last Resort

    9.2. Traditional Toolkit for Bank Failures

    9.3. After the Crisis: From Orderly Liquidation to Bail-In

    HLS Case Studies for Part IX

    PART X. MUTUAL FUNDS AND OTHER INVESTMENT VEHICLES

    10.1. Introduction to Asset Management and Its Regulation

    10.2. Mutual Funds: Fiduciary Duties and Structural Restraints

    10.3. Mutual Funds: Disclosure and Its Limitations

    10.4. The Regulation of Retirement Savings

    10.5. The Regulation of Hedge Funds and Other Private Funds

     

    HLS Case Studies for Part X

    PART XI. DERIVATIVES AND RATE MARKETS

    11.1. Overview of Derivatives

    11.2. Derivatives: Market Infrastructure

    11.3. Derivatives: Business Conduct and Market Integrity

     

    HLS Case Studies for Part XI

    HLS Case Study - Regulating Crypto Assets: Securities and Commodities - April 2020 - An attorney working at the Bipartisan Policy Center explores the regulation of digital assets, attempting to develop a policy position with respect to SEC and CFTC jurisdiction over these products.

    PART XII. SHADOW BANKING

    12.1. Securitization

    12.2. Mortgage Markets and the Government-Sponsored Enterprises

    12.3. Money Market Funds

    12.4. Short-Term Wholesale Funding

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    HLS Case Studies for Part XII