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.
