On June 11, 2020, the Strategic arm of the SEC for Innovation and Financial Technology (FinHub) announced the launch of virtual peer-to-peer meet-ups (P2Ps), as a solution to its in-person meet-ups started in 2019. These meetings allow FinTech (Financial Technology) community to interact with FinHub and discuss their general issues, ask questions, or even make presentations about their work. Keeping in viewmind travel restrictions posed by COVID-19, FinHub will now be hosting a series of thematically based virtual P2P meet-ups over the next few months to continue providing support to FinTech industry participants.
Regulatory Technology (RegTech) is the first theme of this series, scheduled in the week of July 6, 2020, and refers to a conglomeration of regulatory Ffinancial services and technology. FinHub believes that RegTech tools have the potential to enhance investor and market protections.
Information regarding each virtual P2P meet-up series will be available on the FinHub page
On June 11, 2020, the New York Regional Office of the SEC announced an educational telephone town hall for investors on how to avoid scams related to COVID-19. The call is scheduledfor June 23, 2020, from 5 to 6 p.m. ET and the attendees will include the Attorney for the District of New Jersey and the FINRA President besides the high-ranking SEC officials. The SEC is concerned of growing scams and Marc P. Berger, Director of the SEC’s New York Regional Office remarked “As many of us are focused on supporting our families, friends, and neighbors during this difficult time, some fraudsters are seeking to use the COVID-19 crisis as a basis for investment scams,”
To tackle the issue, the SEC has put a stop on the trading of various stocks and has also brought charges on several scams. The SEC’s Office of Investor Education and Advocacy and the Division of Enforcement’s Retail Strategy Task Force has also put up an Investor Alert on frauds relating to COVID-19. This educational call is another step by the SEC in the same direction, and all investors planning for their financial future can attend this free call by clicking on the home page’s event link. Investors can send an email at SECNYOutreach@sec.gov with their questions.