The Securities and Exchange Commission has opened a hub where it can coordinate with public and private sector entities to address concerns and initiate developments in financial technology.
The agency said Thursday the Strategic Hub for Innovation and Financial Technology hub, or FinHub, will serve as a space where the SEC and the public can resolve issues in distributed ledger technology, automated investment advice, digital marketplace financing and artificial intelligence or machine learning, among other things.
The site will also allow the SEC’s personnel to internally collect and distribute information about FinTech, as well as inform domestic and international regulators about modern financial, regulatory and supervisory technologies.
The SEC appointed Valerie Szczepanik, senior advisor for digital assets and innovation and associate director of the SEC's corporation finance division, to oversee the operations within FinHub.
Szczepanik noted that through the innovation center, the SEC will work to support entrepreneurs, developers and their advisers.