The American Commission on securities and exchange Commission (SEC) announced on Thursday, October 17, about the creation of a Strategic hub for innovation and financial technologies (FinHub). The purpose of the new unit named help FINTECH start-UPS, including those involved in the organisation of ICO, the legal intricacies while promoting their products.
SEC launches new strategic hub for innovation and financial technology https://t.co/nnFrQpo1Gh
— SEC_News (@SEC_News) 18 October 2018
It is assumed that FinHub will be the link between the controller and the entrepreneurs and developers working with blockchain technology, automated investment advice, and artificial intelligence.
In particular, the new division will publish all the latest information from the SEC, and will also enable startups to ask their own questions and receive consultations regarding their business. In addition, FinHub will interact with other regulators inside the U.S. and internationally, and will also act as the organizer of the FinTech Forum is a specialised discussion platform dedicated to the technology of the distributed registry and digital assets. It is expected that the event will be held next year.
FinHub headed by senior Advisor to the SEC on digital assets and innovation and Director of the division of corporate Finance Valerie Sepanik. The governing structure of the organization also included other representatives of the regulator, who previously worked with issues in the field of Finance.
“For a long time the staff of the SEC have made efforts to understand emerging technologies, to Express the position of the Agency and to speed up innovations that have practical significance for the securities industry. Starting FinHub, we hope to create for entrepreneurs, developers and their advisors a clear way to interact with SEC and test their ideas,” said Valerie Sepanik.
The Chairman of the SEC, Jay Clayton, meanwhile, noted that his Agency intends to work with investors and other market participants on issues such as the formation of capital and financial services, and will continue to pay attention to the protection of investors.
Earlier this month it was reported that over the past few months the SEC has significantly increased its efforts to prosecute companies which raised funds through primary offerings of coins (ICO).