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Subject: PDT

The Canadian Securities Administrators Launches a Regulatory Sandbox Initiative


MONTRÉAL, Feb. 23, 2017 /CNW Telbec/ - The Canadian Securities Administrators (CSA or we) today launched a regulatory sandbox, an initiative that supports businesses seeking to offer innovative products, services and applications.

"The objective of this initiative is to facilitate the ability of those businesses to use innovative products, services and applications all across Canada, while ensuring appropriate investor protection," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. "We will consider applications, including for time-limited registrations, on a coordinated and flexible basis to provide a harmonized approach throughout Canada for business models, whether they are start-ups or incumbents. Our ability to regroup and coordinate our involvement and expertise in this busy environment is another example that demonstrates the agility and proactivity of the CSA," concludes Louis Morisset.

The CSA regulatory sandbox is open to business models that are truly innovative from a Canadian market perspective. The CSA will assess the merits of each business model, on a case-by-case basis, and businesses that register or receive relief could be permitted to test their products and services throughout the Canadian market.

Examples of potential business models eligible to the CSA regulatory sandbox are:

To apply to the CSA regulatory sandbox, businesses should contact their local securities regulator, which will consider its eligibility and refer it to the CSA regulatory sandbox if it provides genuine technological innovation in the securities industry. As part of the application process, CSA Staff may request live environment testing, a business plan and demonstration of potential investor benefits (as well as how investor risks are minimized).

Local securities regulators can also provide early stage guidance on the application of current securities regulatory obligations, as well as information and support.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

 

Business inquiries:


Province

Contact Information

British Columbia

The BCSC Tech Team, at [email protected]

Alberta

Mark Franko at [email protected] or Denise Weeres at [email protected]

Saskatchewan

Dean Murrison at [email protected] or Liz Kutarna at [email protected] 

Manitoba

Chris Besko at [email protected]

Ontario

The OSC LaunchPad team at [email protected]

Québec

The Fintech Support Team at [email protected].

New Brunswick

[email protected]

Nova Scotia

Bill Slattery at [email protected]

 


Media inquiries:




Sylvain Théberge

Janice Callbeck

Autorité des marchés financiers

Office of the Superintendent of Securities,

514-940-2176

P.E.I.


902-368-6288

Kristen Rose


Ontario Securities Commission

John O'Brien

416-593-2336

Office of the Superintendent of Securities,


Newfoundland and Labrador

Nicole Tuncay

709-729-4909

Alberta Securities Commission


403-297-4008

Rhonda Horte


Office of the Yukon Superintendent of

Alison Walker

Securities

British Columbia Securities Commission

867-667-5466

604-899-6713



Jeff Mason

Jason (Jay) Booth

Nunavut Securities Office

Manitoba Securities Commission

867-975-6591

204-945-1660



Tom Hall

Andrew Nicholson

Office of the Superintendent of Securities,

Financial and Consumer Services

Northwest Territories

Commission, New Brunswick

867-767-9305

506-658-3021



Shannon McMillan

David Harrison

Financial and Consumer Affairs Authority of

Nova Scotia Securities Commission

Saskatchewan

902-424-8586

306-798-4160

 

SOURCE Autorité des marchés financiers


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