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    US Regulatory Agencies Join Global Financial Innovation Network

    October 24, 2019

    CFTC, FDIC, OCC, and SEC announced joining the Global Financial Innovation Network (GFIN). The agencies join 46 other financial authorities, central banks, and international organizations that are members of GFIN to foster greater cooperation among financial authorities on a variety of innovation topics, regulatory approaches, and lessons learned. By promoting knowledge-sharing on innovation in financial services, U.S. members of GFIN will seek to advance financial and market integrity, consumer and investor protection, financial inclusion, competition, and financial stability.

    U.S. financial regulators have taken proactive steps in recent years to enhance regulatory clarity and understanding for all stakeholders and promote early identification of emerging regulatory opportunities, challenges, and risks. Participation in the GFIN furthers these objectives and enhances the agencies’ abilities to encourage responsible innovation in the financial services industry in the United States and abroad. Participation in international organizations such as this helps U.S. financial regulators represent the interests and needs of the nation and its financial services stakeholders. GFIN was formally launched in January 2019 by an international group of financial regulators and related organisations, including the FCA.

     

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    Keywords: International, Americas, Europe, US, UK, Banking, Insurance, Securities, GFIN, Regtech, Fintech, FCA, US Agencies

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