The Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC) today announced their addition to the GFIN.
GFIN, formally launched in February 2019, is a cross-border regulatory testing ground. It seeks to provide a more efficient way for firms to interact with regulators, helping them navigate between countries as they look to scale new ideas.
This includes a pilot for firms wishing to test innovative products, services or business models across more than one jurisdiction. It also looks to create a new framework for co-operation between financial services regulators on innovation related topics, sharing different experiences and approaches.