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20 Eur. Bus. Org. L. Rev. 1 (2019)

handle is hein.journals/eunbuioiz20 and id is 1 raw text is: European Business Organization Law Review (2019) 20:1-4 https://doi.org/1 0.1007/s40804-019-00140-4 EDI TORIAL Editorial Emilios Avgouleas' '2,3,4 Iris H-Y Chiu5 - Pierre Schamma6 Published online: 19 February 2019 ŠT.M.C. Asser Press 2019 Since the great financial crisis in 2008 and the near collapse of the global financial system, two themes have dominated policy-making, law reform and the academic debate: taming systemic risk and harnessing technological innovation. Both themes have been incredibly complex and multi-faceted and to some extent inter-linked. The promise of technological innovation in terms of more efficient, speedier and more cost-effective markets has been great from the outset. Even more so since the recent emergence of financial technology firms (Fintechs) which have made great inroads in the payments sector. The same applies to the application of new technology in the sphere of financial intermediation by means of new business models/techniques such as peer-to-peer (P2P) lending, crowdfunding platforms, or the emergence of initial coin offerings (ICOs) as part of the controversial cryptoassets industry. Great are also the risks and perils emanating from these rapid developments, especially risks to the consumer, the integrity of financial markets, and the protection of finan- cial user data from commercial exploitation or worse, e.g., behavioural profiling in the context of loan approvals. Today, the combination of financial and technology innovation is experienced by consumers and markets mainly in the form of: (a) the provision of automated invest- ment advice (or robo-advice); (b) the use of algorithmic and artificial intelligence E Pierre Schammo pierre.schammo@durham.ac.uk Emilios Avgouleas emilios.avgouleas@ed.ac.uk Iris H-Y Chiu hse-yu.chiu@ucl.ac.uk Chair in International Banking Law and Finance, University of Edinburgh, Edinburgh, UK 2 Member, Stakeholder Group, European Banking Authority, London, UK 3 Visiting Research Professor, Faculty of Law, Hong Kong University, Hong Kong, People's Republic of China 4 Senior Fellow and Visiting Professor, School of European Political Economy, LUISS, Rome, Italy 5 Professor of Corporate Law and Financial Regulation, University College London, London, UK 6 Reader in Law, Durham University, School of Law, Durham, UK Springer 0 ASSER PRESS