The SEC is spinning out its FinHub initiative into a standalone agency office
December 3, 2020, 4:49PM EST
1 min read
The Securities and Exchange Commission announced today it is spinning out its Strategic Hub for Innovation and Financial Technology (FinHub) into a standalone office.
Since 2018 the branch has spearheaded agency efforts on responsible innovation and has been the SEC’s main lens into the world of blockchain and crypto.
Valerie A. Szczepanik, FinHub’s head, will continue on as its director as a standalone office. She will continue to report to the SEC chairman.
The idea is for Szczepanik and the office to coordinate the introduction of policy for emerging technologies across all SEC divisions and offices. FinHub will serve as the main point of analysis for new technologies as well as policy advisor
."The scope and complexity of FinHub's work has continued to evolve and expand as technology itself has evolved," said Ms. Szczepanik in a statement. "This organizational shift will facilitate the agency's agility and flexibility to work with market participants and regulators worldwide, and to encourage leading-edge innovation that will shape the intersection between the federal securities laws and technology."