Jones Day partner Harriet Territt has authored a chapter in the new book FinTech: Law and Regulation. Published in October 2019, the book offers a thorough overview of the sector for practical use and will be an invaluable guide for in-house lawyers as well as law firms looking for an overview of legal and regulatory issues in fintech. It will also be an essential text for those looking to understand the breadth of the sector, as well as the key legal and regulatory issues.

Ms. Territt's chapter, "Governing the Blockchain: What is the Applicable Law?" (Chapter 8), covers how the functionality and the flexibility of distributed ledger technology (DLT) systems can raise complex questions of applicable law and jurisdiction for users. It also considers the challenges in establishing what laws or regulations may be relevant to the operation and governance of DLT systems and transactions conducted on them. In addition, it discusses how governing law and jurisdiction could be assessed in the absence of any express contractual clauses, including an explanation of common DLT governance systems.

Ms. Territt has 20 years of experience in resolving significant financial disputes and regulatory issues with a particular focus on the cutting edge of fintech. She regularly solves disputes by negotiation, mediation, and wholesale restructuring of transactions,  as well as by representing clients in court and related proceedings. Increasingly, Ms. Territt works with clients on liability, risk, and governance issues arising out of the fintech revolution, such as DLT, AI implementations, alternative finance arrangements, and consumer-facing products. She is a founding member of Jones Day's blockchain initiative and coauthor of the Firm's multijurisdictional blockchain overview.

Other key features in FinTech: Law and Regulation  include:

  • Insight from fintech specialists from 10 countries, unpicking the legal and regulatory issues across banking, payments, and fundraising.
  • Detailed clarification on developments in alternative funding platforms, cryptoassets, initial coin offerings, blockchain, and smart contracts.
  • Discussion of innovative solutions for regulators, including how to combat the challenges of patenting fintech inventions and regulating robo-advisors.
  • Guidance for law firms on meeting the challenges presented by the speed of technological innovation and new entrants in the financial sector.