Five Fintech Companies Received SEC Approval to Operate as Capital Market Operators.

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The Securities and Exchange Commission has recognized five financial technology companies as legitimate capital market operators. This information was made public at a news conference held after the first Capital Market Committee meeting of 2023.

The new capital market operators include two crowd-funding intermediaries, two digital stockbrokers, and one robot advisor (robo-advisors provide financial planning services through automated algorithms with no human intervention), according to Lamido Yuguda, director-general of the Securities and Exchange Commission.

Additionally, mentioned was the full launch of the regulatory incubation program for the companies.

Punch.

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