Regulators sign an agreement with the Australian Securities and Investments Commission

MONTREAL, Dec. 12, 2017 /CNW Telbec/ - The securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Québec and Saskatchewan (participating jurisdictions) today announced a co-operation agreement with the Australian Securities and Investments Commission (ASIC). This agreement will allow the participating jurisdictions and the ASIC to exchange information on fintech trends and development, and efficiently refer innovative businesses seeking to enter the others' markets.

The agreement extends the work of the CSA Regulatory Sandbox Initiative and the ASIC Innovation Hub. These innovation functions 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 ASIC is in addition to the one we recently signed with the Abu Dhabi Global Market Financial Services Regulatory Authority," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. "This agreement marks new positive steps for the CSA, which already leads the Sandbox initiative to help innovative businesses seeking to operate across Canada."

The co-operation agreement is subject to the domestic laws and regulations of each authority and does not modify or supersede any applicable laws or regulatory requirements in force in, or applicable to, any such authority's respective jurisdiction.

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

SOURCE Autorité des marchés financiers