02-21-18
Fintech Firms Race to Innovate, States and Regulators Voice Concerns
Tech firms are scrambling to gain a piece of the 8.5 trillion-dollar financial industry market, and financial institutions are racing to partner with tech firms to create competitive advantage. Regulators and legislators, mindful of protecting investors and ensuring the integrity of the financial markets, are simultaneously promoting fintech business innovation, issuing enforcement warnings, entering into regulatory collaborations, and looking to regtech to help them adjust to the shifting paradigm. Highlights of federal and state activity over the past few weeks demonstrate this dynamic and their concerns. Bates Research dives into the details.