This project will discuss the legal issues in Alternative Investments in the Tech Era.  It will discuss: 1. VC/PE/fund management in the Tech era; 2. ICOs, Cryptocurrency, block chain, DLT (distributed ledger technology) and regulations; 3. Challenges to the capital market (equity financing, bonds, etc.); and 4. Shadow banking, consumer protection and risk management in the Tech Era. The project will consider the new problems in the Alternative Investments sector and discuss whether the current regulations and oversight bodies are able to mitigate the new risks and maximize the efficiency of the markets. There will be a particular focus on the new business models, new financial services and products, and new issues in the evolving financial markets and how should regulatory authorities response to them.

Academic significance of the research

Over the past five years, the structure and principal characteristics of the world’s financial system, including alternative investments (such as: private equity, venture capital, hedge fund, real estate investment trusts, crowdfunding, etc), have dramatically changed. The EU, the US, the UK, and Singapore have responded to the rise of FinTech and the rise of crypto economy by changing relevant rules and guidelines for the functioning of the evolving financial services and by establishing new oversight bodies. Moreover, the rapid development of FinTech, crypto economy, and related services and products also creates new legal problems and regulatory challenges to the regions. Against this background, many issues need to be discussed. For instance, what kind of regulatory reform do Singapore need to adopt in order to address the new issues and concerns? What are the lessons from the US, the UK and EU in regulating alternative investments in the Tech era? As the alternative investment market and the traditional debt/equity markets are evolving, what are the new risks and problems? Is there a need to introduce new regulatory tools and oversight bodies to address these problems? Should we increase levels of regulation and provide a greater focus on disclosure and reporting? How about customer protection and risk management in the rise of crypto economy?