On April 24, the Financial Industry Regulatory Authority (FINRA) announced the formation of the Office of Financial Innovation, which will serve as a central point of coordination for issues related to significant financial innovations by FINRA member firms, particularly new uses of financial technology. The establishment of the Office of Financial Innovation is designed to enhance FINRA’s ability to identify, understand and foster financial innovation in the markets to strengthen investor protection and market integrity.

The Office of Financial Innovation will collaborate with teams across FINRA to promote engagement with the industry, regulators, investors and other stakeholders on matters involving significant financial innovation by FINRA member firms, and will incorporate FINRA’s existing Office of Emerging Regulatory Issues, which focuses on analyzing new and emerging risks and trends related to the securities market.

FINRA’s announcement on the formation of the Office of Financial Innovation is available here.