Fintech Cooperation: Canadian Regulators Conclude Agreements With Australia And France

Fintech cooperation agreements with Australia and France were concluded late in 2017 by Canadian securities regulators representing Canada's eight largest provinces.

These agreements have two broad purposes:

sharing "lessons learned" from fintech regulation initiatives; and creating mutual referral processes that will enable innovative fintech businesses to enter new markets. The Canadian jurisdictions that have not signed on to the Australian and French agreements are Newfoundland & Labrador, Prince Edward Island and the three northern territories.

Australia

The cooperation agreement with the Australian Securities and Investments Commission (ASIC) essentially extends the agreement signed in 2016 between ASIC and the Ontario Securities Commission (OSC) to the following additional regulators:

Alberta Securities Commission British Columbia Securities Commission Manitoba Securities Commission Financial and Consumer Services Commission (New Brunswick) Nova Scotia Securities Commission Autorité des Marchés Financiers (Quebec) Financial and Consumer Affairs Authority of Saskatchewan The new agreement follows the implementation of the CSA Regulatory Sandbox, much as the original ASIC-OSC accord was prompted by the creation of the OSC LaunchPad and ASIC's...