Regulators sign an agreement with UK’s Financial Conduct AuthorityBy The IJ Staff | April 22 2019 01:30PM
The securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Québec and Saskatchewan announced on April 18 a co-operation agreement with the United Kingdom Financial Conduct Authority (FCA).
The regulators say the agreement extends the work of the CSA Regulatory Sandbox Initiative and the FCA Innovate project, which “provide a controlled environment for businesses to develop and test innovative solutions that promote efficiency and consumer choices in the financial sector.”
"This co-operation agreement with the FCA is in addition to agreements we have reached with other regulatory organizations," said Louis Morisset, CSA Chair and President and CEO of Québec's Autorité des marchés financiers. "Since FinTech businesses are not constrained by national borders, it is in our best interest to share views and exchange information in connection with their activities so we can evaluate market trends and adapt our regulatory framework appropriately."