{"id":4233,"date":"2020-11-02T16:51:50","date_gmt":"2020-11-02T16:51:50","guid":{"rendered":"https:\/\/www.futuresandoptions.gr\/en\/?p=4233"},"modified":"2020-11-02T16:51:51","modified_gmt":"2020-11-02T16:51:51","slug":"cftc-and-south-african-reserve-bank-announce-cooperative-effort-to-promote-fintech-innovation","status":"publish","type":"post","link":"https:\/\/www.futuresandoptions.gr\/en\/cftc-and-south-african-reserve-bank-announce-cooperative-effort-to-promote-fintech-innovation\/","title":{"rendered":"CFTC and South African Reserve Bank Announce Cooperative Effort to Promote Fintech Innovation"},"content":{"rendered":"\n<p>The Commodity Futures Trading Commission and the South African Reserve Bank (SARB) today announced they have signed a Statement of Intent to cooperate and support innovation through each authority\u2019s respective financial technology (fintech) initiative\u2014CFTC\u2019s&nbsp;<a href=\"http:\/\/www.cftc.gov\/LabCFTC\/index.htm\">LabCFTC<\/a>&nbsp;and SARB\u2019s Fintech Unit.<\/p>\n\n\n\n<p>\u201cWe welcome the opportunity for enhanced cooperation with our South African colleagues to promote responsible fintech innovation. This arrangement builds on recent efforts by the CFTC to strengthen international collaboration in this realm,\u201d said CFTC Chairman Heath P. Tarbert, referencing the agency\u2019s\u00a02018 arrangements\u00a0with authorities in the United Kingdom, Singapore, and Australia, and the\u00a02019 joining\u00a0of the Global Financial Innovation Network. \u201cCoordinating with our international partners has many benefits, including helping us keep up with the rapid pace of technological changes in our markets.\u201d<\/p>\n\n\n\n<p>Collaboration amongst authorities is increasingly becoming a crucial component to understanding approaches to fintech innovation. Such collaborative efforts will promote ongoing joint knowledge sharing on complex fintech matters.<\/p>\n\n\n\n<p>The&nbsp;<em>Statement of Intent on Cooperation and the Exchange of Information on Financial Technology Innovation<\/em>&nbsp;focuses on information sharing regarding fintech market trends and developments. It is also designed to facilitate referrals of fintech businesses and the sharing of information and insights derived from each authority\u2019s experiences and relevant events, proofs of concept, trials, or innovation competitions. The arrangement will support both authorities\u2019 efforts to facilitate market-enhancing fintech innovation and ensure international cooperation on emerging regulatory best practices.<\/p>\n\n\n\n<p><strong>About LabCFTC<\/strong><\/p>\n\n\n\n<p>In service to the CFTC\u2019s goal of encouraging innovation and enhancing the regulatory experience for market participants at home and abroad, LabCFTC\u2019s mission is to be the FACE of innovation within the Commission in promoting responsible innovation among financial industry, stakeholders, and policymakers by:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong><u>F<\/u><\/strong>acilitating dialogue between innovators and those within the <a href=\"https:\/\/www.futuresandoptions.gr\/en\/cftc-files-charges-in-20-million-international-binary-options-and-digital-asset-fraud-scheme\/\">CFTC<\/a> on financial and technological innovations;<\/li><li><strong><u>A<\/u><\/strong>dvancing policy and regulation in financial innovation;<\/li><li><strong><u>C<\/u><\/strong>oordinating internally and externally with International, Federal, and State regulators, organizations, and associations; and<\/li><li><strong><u>E<\/u><\/strong>ducating internal and external stakeholders on financial technology and innovation in the financial markets to identify how innovations are being used.<\/li><\/ul>\n\n\n\n<p>Visit\u00a0<a href=\"https:\/\/www.cftc.gov\/LabCFTC\/index.htm\">cftc.gov\/LabCFTC<\/a>\u00a0for more information and sign up\u00a0here\u00a0for important LabCFTC updates.<\/p>\n\n\n\n<p><strong>About SARB\u2019s Fintech Unit<\/strong><\/p>\n\n\n\n<p>The Fintech Unit was established in 2017, to further the SARB\u2019s efforts to embrace fintech innovation whilst ensuring appropriate alignment to policies, regulations, and supervisory regimes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Commodity Futures Trading Commission and the South African Reserve Bank (SARB) today announced they have signed a Statement of Intent to cooperate and support innovation through each authority\u2019s respective financial technology (fintech) initiative<\/p>\n","protected":false},"author":2,"featured_media":4234,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1146,14,508,32],"tags":[1086,937,37],"class_list":["post-4233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","category-financial-news","category-tech","category-world","tag-cftc","tag-fintech","tag-futures"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CFTC and South African Reserve Bank Announce Cooperative Effort to Promote Fintech Innovation - Futures and Options<\/title>\n<meta name=\"description\" content=\"The Commodity Futures Trading Commission and the South African Reserve Bank (SARB) today announced they have signed a Statement of... 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