The US Securities and Exchange Commission today announced it will host a public forum to discuss financial technology (Fintech) innovation in the financial services industry. The forum will be held at the SEC's Washington D.C. headquarters on November 14.
According to the official announcement, the main goal of the forum is to promote greater collaboration and understanding among regulators, entrepreneurs and industry experts into Fintech innovation. It will also focus on evaluating how the current regulatory environment can most effectively address these new technologies.
“The proliferation of Fintech innovation has the potential to transform virtually every aspect of our nation’s financial markets”, SEC said. “The panels will discuss issues such as blockchain technology, automated investment advice or robo-advisors, online marketplace lending and crowdfunding, and how they may impact investors”.
Earlier in March, SEC chairwoman Mary Jo White said that blockchain technology has the potential to modernize, simplify, or even potentially replace, current trading and clearing and settlement operations. White said that the SEC is closely monitoring the proliferation of this technology and already addressing it in certain contexts.
The November Fintech forum will be open to the public and webcast live on the SEC's website. In the forthcoming weeks, more details including forum agenda and participants will be published.
