On December 3, 2020, the SEC announced that its Strategic Hub for Innovation and Financial Technology (FinHub) will become a stand-alone office with Valerie A. Szczepanik, its pioneering director, continuing to lead and report directly to the SEC Chairman. Since it was established within the Division of Corporation Finance in 2018, FinHub has led agency efforts to encourage responsible innovation in the financial sector, for example, in evolving areas such as digital assets and distributed ledger technology, digital marketplace financing, automated investment advice, and artificial intelligence and machine learning.
With its new designation as a stand-alone office, FinHub will:
- enhance the SEC’s ability to continue fostering innovation in emerging technologies in our markets consistent with investor protection
- continue to lead the agency’s work to identify and analyze emerging financial technologies affecting the future of the securities industry
- engage with market participants as technologies develop
- play an important role in facilitating the SEC’s active engagement with innovators, developers, and entrepreneurs
As Director of FinHub, Ms. Szczepanik will organize the analysis of emerging financial innovations and technologies across the SEC’s divisions and offices and with international regulators. Ms. Szczepanik will guide the SEC and its staff as they develop and implement policies in this area.
For additional information about the new stand-alone office, visit the FinHub webpage.
Sources:
SEC Announces Office Focused on Innovation and Financial Technology (www.sec.gov)
