On December 3, 2020, the SEC announced that FinHub (the Strategic Hub for Innovation and Financial Technology) was being upgraded to an independent office. Acknowledging the importance of the all things fintech (emerging technologies and innovation in financial services), the SEC stated that creating a stand-alone office:
“[S]trengthens the SEC’s ability to continue fostering innovation
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The Evolving World of AI
Artificial intelligence (AI) refers to the ability of a computer or a computer-enabled robotic system to process information and produce outcomes in a manner similar to the thought processes of humans in learning, decision making and problem solving. As a result of rapid advances in AI, pre-pandemic, McKinsey Global Institute estimated that between 75 and
Cyberattacks—Are You Ready?
Recent cyber-attacks hurt individuals and investors on a regular basis. Recent attacks have cost hundreds of millions of dollars. Firms that have dismissed the dangers are increasingly at risk of regulatory action. New European laws will likely increase fines for non-compliance with cyber-security standards. New York’s financial regulator recently enacted new cyber-security rules in August.