The securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Québec and Saskatchewan have signed an agreement with the Australian Securities and Investments Commission (ASIC) to promote innovation in the fintech space in their respective jurisdictions.
Under the agreement, the participating Canadian jurisdictions and the ASIC will refer innovative firms to each other’s markets as well as exchange information.
The latest pact has extended the work of the CSA Regulatory Sandbox Initiative and the ASIC Innovation Hub.
CSA chairman president and CEO of the Autorité des marchés financiers Louis Morisset said: “This co-operation agreement with the ASIC is in addition to the one we recently signed with the Abu Dhabi Global Market Financial Services Regulatory Authority.”
“This agreement marks new positive steps for the CSA, which already leads the Sandbox initiative to help innovative businesses seeking to operate across Canada.”
Earlier, ASIC signed a similar fintech agreements with Dubai, the UK, Singapore, Ontario, Hong Kong, Japan, Malaysia, Abu Dhabi and Switzerland financial regulators.