Copy link
Increase text size
Decrease text size
Link copied

FINRA establishes new office focused on fintech innovation

Image Via Blue Vault

Fri, 26 Apr 2019, 03:49 am UTC

The Financial Industry Regulatory Authority (FINRA) has set up an Office of Financial Innovation that will serve as a central point of coordination for issues related to significant financial innovations by member firms.

The new office will particularly focus on financial technology (fintech) use cases. It will collaborate with teams across FINRA to promote engagement with various stakeholders – industry, regulators, investors – on significant financial innovation by FINRA member firms.

The Office of Financial Innovation is an outgrowth of the Innovation Outreach Initiative under FINRA360. Established in June 2017, the Innovation Outreach Initiative aims to foster the dialogue with the securities industry and to better understand FinTech innovations and their impact on the industry.

FINRA said that the move will further enhance its ability to identify, understand and foster financial innovation in the markets in a way that strengthens investor protection and market integrity.

The new office will be headed by Haimera Workie, who currently serves as a Senior Director at FINRA and previously served as Deputy Associate Director in the Division of Trading and Markets at the U.S. Securities and Exchange Commission (SEC).

“Innovation continues to pose new opportunities and challenges for our member firms and the broader financial services industry, and it is essential that we as regulators keep pace,” said FINRA President and CEO Robert W. Cook. “Under Haime’s leadership, I am confident the Office of Financial Innovation will further FINRA’s long-standing commitment to understanding and addressing these issues through coordinated responses that foster both innovation and investor protection.”

Over the past few years, FINRA has been engaging with the industry through various symposiums, conferences, and roundtables focused on blockchain, RegTech, fintech, artificial intelligence (AI), and others. In 2017, it issued a report that discusses the use and implications of distributed ledger technology (DLT) in the securities industry.

The SEC and FINRA are going to hold the National Compliance Outreach Program for Broker-Dealers on June 27, 2019. The program will focus on insights from leadership, protecting retail investors, and regulatory “hot topics” such as digital assets and cybersecurity.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $9,246.02 (-0.07%)
  • Ethereum (ETH) $240.90 (+0.54%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $229.65 (-0.66%)
  • Cardano (ADA) $0.132700 (+1.98%)
  • Bitcoin (BTC) $9,246.02 (-0.07%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.