SEC Eyes Risks in Rapid Fintech Deployment
“We’ve hired a few quants that used to design HFT models and worked at HFT firms. We’ve actually been working on—and have a prototype for—high-speed analytics on trading. That’s something our quant team has worked on a lot over the past year."
Fintech may be the darling of markets right now, but the top US markets regulator is increasingly viewing it with concern.
The US Securities and Exchange Commission (SEC) is focusing on the risks posed by financial technology, and has significantly expanded its roster of technology specialists to cope with both high-speed trading and newer fintech firms seeking to offer services to market participants, said Pete Driscoll, chief risk and strategy officer at the SEC's Office of Compliance
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