The CNV Launched an Innovation Hub for the Fintech Sector in Argentina

The National Securities Commission (CNV) in Argentina has just launched an Innovation Hub. It is a public-private collaboration space to promote the exchange with companies or entrepreneurs that have service technology projects and/or financial products in the capital market sector.

This space will be one of the central axes of the CNV Fintech Committee, a team formed by different areas of the agency, although it is already “working to have a formal space in the short term, with professionals 100% dedicated to these fintech and innovation issues.”

Through this Hub, entities will be able to dialogue with the agency on how to become familiar with legal and regulatory requirements and, in this way, reduce the time needed for financial innovations to reach the market and adapt to the regulatory framework, through cooperation and mutual understanding.

In a dialogue with a group of journalists, the president of the CNV, Adrián Cosentino, stated that “this initiative also aims at improving the protection framework for investors in the face of quite unfortunate circumstances that usually occur,” in reference to investment scams.

The executive highlighted that one of the motivations was also the “great critical mass of talent” in Argentina, taking into account that the country has a “very innovative and proactive” knowledge industry and a fintech universe that is large in quantity, diversity, and with very interesting business models.

The Innovation Hub has a website where interested parties can explain the projects they are working on or want to promote. If they meet the CNV’s eligibility criteria, they schedule a series of meetings with the Fintech Roundtable and specific objectives are proposed based on each project.

“In general terms, the objective is to support the development of innovation and exchange between innovative entities and the regulator, promote innovations that foster financial inclusion and education, and protect investors from risks associated with new technologies,” added Martín Breinlinger, one of the agency’s directors.

Read more on the subject and find the latest financial headlines with the Born2Invest mobile app.

The Innovation Hub will be formed from five fundamental work areas

Breinlinger said that the CNV’s Fintech Committee is made up of seven professionals in total, belonging to different areas of the agency. The working team works with an agenda of regular meetings, in which the participants meet to discuss different topics to be developed.

The official explained that there are five fundamental work areas. The first is the Hub. The second is internal training on topics such as fintech, crypto-assets, and decentralized finance. The third is addressing misleading advertising by supposed investment service providers.

The fourth area is the issue of the regulation of private offerings. The last point is that the agency is working so that in 2023 it can launch a regulatory sandbox. In other words, a space for experimentation in which projects can be tested by means of “pilot tests” supervised by the regulator.

__

(Featured image by Jarmoluk via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in El Cronista, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.