FINRA launched an "Innovation Outreach Initiative" ("Initiative") to facilitate engagement and cooperation with market participants concerning the role of FinTech in the securities industry.
The Initiative team will:
- establish a "FinTech Industry Committee" to monitor and discuss technological developments and their impact on FINRA rules and functions;
- conduct regional roundtables that provide a forum for market participants to discuss FinTech topics;
- release written materials on the impact of emerging innovations on the securities industry; and
- strengthen FINRA's internal processes for industry coordination, such as training for FINRA staff who are responsible for communicating with firms on FinTech-related issues.
As an initial step, a Blockchain Symposium in New York City will be hosted by FINRA on July 13, 2017.
FINRA President and CEO Robert Cook stated:
"The Innovation Outreach Initiative will enable us to better track FinTech developments across the rapidly changing industry environment in order to support innovation in the industry while maintaining investor protection and market integrity."
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