The US Securities and Exchange Commission (SEC) has launched new Strategic Hub for Innovation and Financial Technology (FinHub) to enable public engagement on issues associated with fintech.
Also, the new initiative will be a resource for SEC initiatives such as distributed ledger technology, digital marketplace financing, automated investment advice and artificial intelligence planned for next year.
SEC staff will further use the strategic hub as a platform and clearinghouse to capture and circulate fintech-related information within the agency.
Other domestic and international regulators can use the FinHub portal as a means to connect with new technologies across financial, regulatory and supervisory systems.
SEC chairman Jay Clayton said: “The FinHub provides a central point of focus for our efforts to monitor and engage on innovations in the securities markets that hold promise, but which also require a flexible, prompt regulatory response to execute our mission.”
The FinHub will involve SEC representatives with fintech expertise. The agency’s senior advisor for Digital Assets and Innovation, and Division of Corporation Finance associate director Valerie Szczepanik will lead the new initiative.
Szczepanik said: “SEC staff across the agency have been engaged for some time in efforts to understand emerging technologies, communicate the agency’s stance on new issues, and facilitate beneficial innovations in the securities industry.
“By launching FinHub, we hope to provide a clear path for entrepreneurs, developers, and their advisers to engage with SEC staff, seek input, and test ideas.”