US SEC FinHub to serve as DLT public resource

The US Securities and Exchange Commission has launched a strategic hub for innovation and financial technology (FinHub).

This will be headed up by Valerie A. Szczepanik, Senior Advisor for Digital Assets and Innovation and Associate Director in the SEC’s Division of Corporation Finance, and staffed by representatives from the agency’s divisions and offices who have expertise and involvement in FinTech-related issues.

It will serve as a resource for public engagement on the agency’s work in this area, such as distributed ledger technology (including digital assets), automated investment advice, digital marketplace financing, and artificial intelligence/machine learning. It also replaces and builds on the work of several internal working groups at the SEC that have focused on similar issues.

“The SEC is committed to working with investors and market participants on new approaches to capital formation, market structure, and financial services, with an eye toward enhancing, and in no way reducing, investor protection,” says SEC Chairman Jay Clayton.

“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.”

“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,” comments Szczepanik. “By launching FinHub, we hope to provide a clear path for entrepreneurs, developers, and their advisors to engage with SEC staff, seek input, and test ideas.”