For Immediate Release February 23, 2017
MONTRÉAL – 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.
The BCSC Tech Team, at TechTeam@bcsc.bc.ca
Mark Franko at Mark.Franko@asc.ca or Denise Weeres at Denise.Weeres@asc.ca
Dean Murrison at email@example.com or Liz Kutarna at firstname.lastname@example.org
Chris Besko at email@example.com
The OSC LaunchPad team at firstname.lastname@example.org
The Fintech Support Team at email@example.com.
Bill Slattery at William.Slattery@novascotia.ca
Sylvain Théberge Autorité des marchés financiers 514-940-2176
Janice Callbeck Office of the Superintendent of Securities, P.E.I. 902-368-6288
Kristen Rose Ontario Securities Commission 416-593-2336
John O’Brien Office of the Superintendent of Securities, Newfoundland and Labrador 709-729-4909
Nicole Tuncay Alberta Securities Commission 403-297-4008
Rhonda Horte Office of the Yukon Superintendent of Securities 867-667-5466
Alison Walker British Columbia Securities Commission 604-899-6713
Jeff Mason Nunavut Securities Office 867-975-6591
Jason (Jay) Booth Manitoba Securities Commission 204-945-1660
Tom Hall Office of the Superintendent of Securities, Northwest Territories 867-767-9305
Andrew Nicholson Financial and Consumer Services Commission, New Brunswick 506-658-3021
Shannon McMillan Financial and Consumer Affairs Authority of Saskatchewan 306-798-4160
David Harrison Nova Scotia Securities Commission 902-424-8586
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