The CSA Financial Innovation Hub (FinHub) is an initiative intended to support innovation in the Canadian capital markets that presents benefits for investors. Through the FinHub, the CSA takes a proactive approach to considering new technologies and innovative business models, including assessing the scope and nature of regulatory implications and evaluating what may be required to modernize the securities regulatory framework for such innovations.
FAQ
Who can engage with the CSA FinHub? Is it only for fintech start-ups or is it open to incumbents, such as dealers and financial institutions, to engage with as well?
Any firm that has developed an innovative business model, or is using a new technology, whether it is a dealer, a financial institution or a start-up, may be eligible to participate in appropriate FinHub initiatives.
What types of initiatives will be available to market participants through the Fin Hub?
The CSA is currently developing a cohort-based testing environment that will allow multiple eligible businesses to test novel ideas or technology solutions based on themes pre-determined by the CSA. Other type of testing environments are being considered as well. Stay tuned for further developments!
Who should firms contact to obtain information about the FinHub?
A firm should contact the securities regulator in the jurisdiction where its head office is located. There are dedicated staff available for innovators in the capital market to assist with navigating the securities regulatory environment.
Here is a list of contact information:
| British Columbia The BCSC Fintech & Innovation Team, at fit@bcsc.bc.ca or see https://www.bcsc.bc.ca/industry/financial-technology-innovation |
| Alberta Ryan Clements at FinHub@asc.ca |
| Saskatchewan Dean Murrison at dmurrison@sfsc.gov.sk.ca or Nathanial Day at nathaniald.day@gov.sk.ca |
| Manitoba Chris Besko at chris.besko@gov.mb.ca |
| Ontario OSC LaunchPad Support program: oscinnovation.ca/launchPad OSC Innovation Office Business Support team: osclaunchpad@osc.gov.on.ca |
| Québec Request for assistance or information: Web form – Request for assistance or information | AMF (lautorite.qc.ca) Lise Estelle Brault at LiseEstelle.Brault@lautorite.qc.ca |
| New Brunswick registration-inscription@fcnb.ca |
| Nova Scotia Jane Anderson at Jane.Anderson@novascotia.ca |
Where can I find the name of the firms which have been authorized in the CSA Regulatory Sandbox (predecessor to the FinHub)?
Click here for a list of the decisions granted through the CSA Regulatory Sandbox.
Is the FinHub responsible for the registration of Crypto Asset Trading Platforms (CTP)?
CTPs are being registered under a focused, pre-registration undertakings process that is separate from the FinHub. Click here for a list of the decisions granted to crypto trading platforms.
Who should I contact if I am uncertain of whether my business model or new technology is subject to Securities Law?
A firm should rely on its legal advisers to make this determination. As securities regulators, the CSA cannot provide legal opinion or advice on a firm’s specific situation; it can provide general information and guidance on securities law requirements.