FinHub becomes a separate SEC department

The Securities and Exchange Commission’s Strategic Hub for Innovation and Financial Technology, established in 2018 and known as FinHub, will become a stand-alone office.

Currently part of the SEC’s corporation finance division, FinHub has “spearheaded agency efforts to encourage responsible innovation in the financial sector, including in evolving areas such as distributed ledger technology and digital assets, automated investment advice, digital marketplace financing, and artificial intelligence and machine learning,” the SEC said in a release.

Valerie A. Szczepanik, the current FinHub head, will be its first director and will report to the SEC chairman.

[More: SEC tees up virtual meet-ups for fintechs]

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