On October 18, 2018, the U.S. Securities and Exchange Commission announced the creation of its Strategic Hub for Innovation and Financial Technology (FinHub).
FinHub is designed to serve as a resource for public engagement on the SEC’s FinTech-related issues and initiatives, such as distributed ledger technology (including digital assets) [better known as “blockchain”], automated investment advice, digital marketplace financing, and artificial intelligence/machine learning.
According to the SEC, FinHub will:
- Provide a portal for industry and the public to engage directly with SEC staff on innovative ideas and technological developments;
- Publicize information regarding the SEC’s activities and initiatives involving FinTech on the FinHub page;
- Engage with the public through publications and events, including a FinTech Forum focusing on distributed ledger technology and digital assets planned for 2019;
- Act as a platform and clearinghouse for SEC staff to acquire and disseminate information and FinTech-related knowledge within the agency; and
- Serve as a liaison to other domestic and international regulators regarding emerging technologies in financial, regulatory, and supervisory systems.