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FINRA Issues Paper on Blockchain and Implications for Financial Services
[Photo: pymnts.com]
FINRA’s Office of Emerging Regulatory Issues has issued a report on Distributed Ledger Technology, better known as blockchain. The report provides an overview of the technology, highlights key applications and discusses implementation and regulatory considerations for broker-dealers. Among the applications addressed are those being used or tested in the equity, debt and derivatives markets, as well as shared utilities.
“Over the past couple of years, FINRA has actively engaged with market participants to monitor developments related to DLT and its potential impact in the securities industry,” says the report, from FINRA’s. FINRA believes this early collaboration “will allow the industry to reap the benefits of the technology, while ensuring protection of investors and maintenance of market integrity.”
This is FINRA’s initial contribution to an ongoing dialogue with market participants about the use of DLT, and the regulator welcomes feedback on any challenges associated with the use and implementation of DLT.
[Click link to access the DLT Report.]
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