- SEC has announced that the wing for Innovations and Financial Technology will hold virtual meetups with the industry tech giants.
- The SEC or the US Securities and Exchange Commission launched FinHub in
- Regulatory technology, in other words, is a recent discovery technology that implements Information Technology to improve all the regulatory processes.
Amidst the imposed lockdowns due to the coronavirus pandemic, SEC has
discovered a new innovative way to host video conferences. SEC has announced that the wing for Innovations and Financial Technology will hold virtual meetups with the
industry tech giants.
What is Finhub?
The SEC or the US Securities and Exchange Commission launched FinHub in January 2018. Moreover, it aimed to serve as a portal for public relations on the SEC’s FinTech forum. The chairman of the SEC, Jay Claton, said during the launch of FinHub that it would concentrate and focus all their efforts to monitor and engage all the innovations to improve the security technology.
As per the reports, FinHub has widely worked on gathering on-site engagements.
The FinHub staff have said that they have acknowledged all the difficulties and challenges that the current global pandemic of Covid-19 has imposed. Further, it is nowadays hazardous and difficult to host in-person meetings and hence the solution.
The First Theme For The Virtual Meet
The commissioner says that there is a need to bridge the ongoing gap in communications due to social distancing. Moreover, they will host it in the form of a series based on a theme over the coming months. Also, this would enable the entire FinHub staff to meet new innovators and entrepreneurs who wish to discuss any issues related to the theme of the series. The topic or the theme of the series will be different for each of them. And the first theme for the virtual P2P meetup would be ‘RegTech,’ which is short for the regulatory technology.
Regulatory technology, in other words, is a recently discovered technology where Information Technology implemented to improve all the regulatory processes. Besides, it has a widespread application in the finance and consumer goods sectors.
The tech makes use of machine learning and data science to diminish the risk to the company’s compliance. Further, it provides useful information about data laundering and other frauds. Anyone working in the RegTech industries welcomed to take part in this initiative by FinHub. The scheduled date for the meeting set on July 6, 2020.
The expectation is of a high number of industry engagements. Moreover, interested individuals can use the forms provided by FinHub to join virtual meetings. FinHub continues to engage people and industries and contribute to projects and issues.