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SEC Launches FinHub Portal

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Thursday marked the launch of the Securities and Exchange Commission’s FinHub, which will serve as the agency’s “strategic hub for innovation and technology.” It is accessible to the public, and also will serve as an exchange of ideas for those in the industry and other regulators.

The hub covers four topical areas: 1) Blockchain/distributed ledger, 2) Digital marketplace financing, 3) Automated investment advice, and 4) Artificial intelligence/machine learning. Under each topic there are links to current regulation, investor information and various speeches and presentations. For example, under the Digital Marketplace Financing category is a regulation bar that when clicked on will provide information on the SEC’s crowdfunding final rule as well as a compliance details.

In addition, FinHub will:

  • Act as a portal for the industry and public to engage directly with SEC staff on innovation ideas and technology developments;
  • Publicize information regarding the SEC’s activities in the fintech arena;
  • Engage the public, which will include a forum focusing on distributed ledger technology and digital assets (planned for 2019);
  • Serve as a clearinghouse for SEC on fintech information;
  • Serve as a liaison to other domestic and international regulators.

“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,” said FinHub leader Valerie Szczepanik, in a statement. Szczepanik, the SEC’s senior advisor for digital assets and innovation and associate director in the SEC’s Division of Corporation Finance, added, “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.”

SEC Chairman Jay Clayton added in a statement that ”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.”

— Check out Final SEC Advice Standards Package Coming September 2019 on ThinkAdvisor.


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