On October 18th, the SEC announced the launch of the Strategic Hub for Innovation and Financial Technology (FinHub). The FinHub will be a resource for public engagement on the SEC’s finanical technology (FinTech) related issues and initiatives. These issues include distributed ledger technology (including digital assets), automated investment advice, digital marketplace financing, and artificial intelligence/machine learning, among other points of interest. FinHub will replace, consolidate, and build on the work of several internal working groups at the SEC that focus on similar issues.
Included in the FinHub’s goals and features:
- Providing a portal for industry and the public to engage directly with the SEC staff on innovative ideas and technological developments;
- Publicizing information concerning the SEC’s activities and initiatives involving FinTech;
- Engaging with the public through publications and events, including a FinTech Forum;
- Serving as a liaison to other domestic and international regulators regarding emerging technologies in financial, regulatory, and supervisory systems.
Valerie A. Szczepanik, Senior Advisor for Digital Assets and Innovation and Associate Director in the SEC’s Division of Corporation Finance, will lead FinHub. FinHub will be staffed by representatives from the SEC’s divisions and offices who have expertise and involvement in FinTech and its related issues. In this way, FinHub should provide a platform for the Commission’s efforts to monitor and engage on technological innovations in the securities markets that are promising but also require flexible and prompt regulatory responses.
For more information, you can visit FinHub’s new webpage. To contact FinHub staff, use the form available on the FinHub page.
Sources:
SEC Launches New Strategic Hub for Innovation and Financial Technology (www.sec.gov)
FinHub: Strategic Hub for Innovation and Financial Technology (www.sec.gov)