New Technologies Bring New Challenges to Regulatory Agencies
Examiners' skills and policy crafting may need to change to meet demands of emerging technologies.
Regulatory agencies are in the process of reaching out to firms around financial technology.
With emerging technologies being explored by the financial services industry, regulators are working on methods to address risk while continuing to offer a permissive environment for innovation. New technologies emerging in the financial sector will bring a different set of challenges to regulators as the agencies reevaluate their own policies and the skill sets needed to enforce them.
Beth Knickerbocker, chief innovation officer at the Office of the Comptroller of the Currency (OCC), said
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