The Securities and Exchange Commission has stated that it is leveraging the various opportunities available in the Fintech space to ensure proper regulation of the capital market in the face of the Covid-19 pandemic.
According to Uduk, “No one saw this coming, but here it is with us. We had to quickly activate our Business Continuity Plans to ensure that there is no gap in regulation. So most of us are leveraging technology, and staff are working remotely, we are interacting with market operators who are also working remotely.
“You are aware that many companies have been able to hold virtual AGMs and have also paid out dividends to their shareholders in spite of the lockdown. This they have been able to do with the aid of technology.” Uduk stressed: “In the past, we talked a lot about FinTech or Financial Technology and how it has disrupted the market but now its Covid-19 that has so disrupted the market, disrupted everything the way it is and therefore as human beings we have to adapt to be able to ensure that our lives continue and not allow Covid-19 to put our lives on hold.