The Ontario Securities Commission (OSC) has launched a program to help financial technology (FinTech) companies navigate securities law requirements and reduce the time it takes to bring their businesses to market.

Earlier this week Ontario's securities regulator unveiled OSC LaunchPad, which will support new and early-stage FinTech businesses. Firms may meet with the OSC team to get help on navigating the regulatory framework, or for informal guidance on potential regulatory implications. The OSC says that, in some cases, it is prepared to consider time-limited registration or exemptive relief to give innovators room to test their products, services and applications.

“An exciting opportunity for Canadian innovators”

“This is an exciting opportunity for Canadian innovators. With OSC LaunchPad, emerging fintech businesses now have an opportunity to work with securities law experts from day one,” says Maureen Jensen, chairwoman and CEO of the OSC. “This initiative reflects the OSC’s commitment to regulation that is in step with innovation.”

FinTech business may submit requests for support at www.osclaunchpad.ca. The web site also offers advice about how securities regulation may apply to their business models, and lists upcoming events that the OSC LaunchPad team will host or attend.

"The OSC will apply its learnings from OSC LaunchPad more broadly in order to modernize regulation for similar businesses," reads the announcement. "To this end, the OSC will establish a fintech advisory committee to further understand the unique issues faced by these start-ups. Additional details will be published in the coming weeks."