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US SEC’s OCIE Puts Financial Technologies on Priority List for 2020

09 January 2020 14:21, UTC
US SEC’s OCIE Puts Financial Technologies on Priority List for 2020

The US SEC’s Office of Compliance Inspections and Examinations (OCIE) has put new financial technologies, including digital assets, among the main tasks in the current year, as per January 7 announcement.

According to the regulator, new technological developments in the field of capital formation and investment recommendations require "warrant ongoing attention and review."

OCIE already made a similar announcement in early 2019. However, it is likely that OCIE's priorities for 2020 differ from priorities for 2019 in that the Office has become more interested in positive assessments and the potential of financial technologies. OCIE will also continue to identify and verify SEC-registered digital asset firms.

The SEC generally intensified its participation in the crypto industry in 2019, in particular with regard to ICOs, which it considers to be unregistered securities offerings. In December 2019, SEC Commissioner Hester PEIRCE expressed interest in promoting a more flexible regulatory approach to the crypto industry, including identifying offerings that are not within the competence of the SEC.

Image courtesy of Think Advisor



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