1. Introduction -- 2. Foundations of financial regulation -- 3. The information problem and regulatory failure -- 4. An introduction to financial innovation -- 5. Forms of fintech – a market observation -- 6. What’s new about fintech (and what isn’t)? -- 7. Digital Disruption –...

This paper investigates the role of incomplete investor information in financial innovations. By analyzing the information that structured product issuers provide to the investors of those products, we find that issuers have an information advantage over investors regarding two important...