OSC Launches Canada’s First Regulatory Sandbox for Fintech
- The program has a dedicated website and already accepting now requests from eligible fintech businesses.
The Ontario Securities Commission (OSC), one of the thirteen provincial financial regulators in Canada, today unveiled a new fintech-focused hub called LaunchPad which aims to help guide FinTech startups through the complexities of the regulatory framework.
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LaunchPad will be staffed by a dedicated team who will work directly with fintech companies to help them navigate, and even potentially tailor, Ontario’s securities laws while ensuring investors remain protected. The OSC says that given the size of the Ontario Securities Act and its regulations, there is a compliance burden. As such, LaunchPad aims to streamline disclosure requirements, eliminate duplication and improve the public offering process.
The OSC will apply what it learns through the LaunchPad hub more broadly to modernize Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term for similar businesses. These include online advisory firms, peer-to-peer lending services, Crowdfunding Crowdfunding Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Read this Term platforms and angel investor organizations.
With LaunchPad, OSC will provide direct support to eligible new and early-stage fintech businesses that provide innovative services, products and applications of benefit to investors. At the same time, Canada’s largest market watchdog indicates that it will also consider providing regulatory relief to startups so that they can experiment with novel products, services and business models, while also ensuring investor protection
The program has a dedicated website, which can be accessed through www.osclaunchpad.ca, and already accepting now requests for support from eligible fintech businesses.
Although arguably late to the race, OSC Launchpad has caught up by having its sandbox regime in a bid to follow pace with many jurisdictions that launched their own proposals for similar regulatory sandboxes. Such initiatives seek to create a safe space in which Fintech firms can test innovative products and services without immediately incurring all the normal regulatory consequences of engaging in such activity.
Maureen Jensen, Chair and CEO of the OSC commented: “This is an exciting opportunity for Canadian innovators. With OSC LaunchPad, emerging fintech businesses now have an opportunity to work with securities law experts from day one. This initiative reflects the OSC’s commitment to regulation that is in step with innovation.”
The Ontario Securities Commission (OSC), one of the thirteen provincial financial regulators in Canada, today unveiled a new fintech-focused hub called LaunchPad which aims to help guide FinTech startups through the complexities of the regulatory framework.
The FM London Summit is almost here. Register today!
LaunchPad will be staffed by a dedicated team who will work directly with fintech companies to help them navigate, and even potentially tailor, Ontario’s securities laws while ensuring investors remain protected. The OSC says that given the size of the Ontario Securities Act and its regulations, there is a compliance burden. As such, LaunchPad aims to streamline disclosure requirements, eliminate duplication and improve the public offering process.
The OSC will apply what it learns through the LaunchPad hub more broadly to modernize Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term for similar businesses. These include online advisory firms, peer-to-peer lending services, Crowdfunding Crowdfunding Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Read this Term platforms and angel investor organizations.
With LaunchPad, OSC will provide direct support to eligible new and early-stage fintech businesses that provide innovative services, products and applications of benefit to investors. At the same time, Canada’s largest market watchdog indicates that it will also consider providing regulatory relief to startups so that they can experiment with novel products, services and business models, while also ensuring investor protection
The program has a dedicated website, which can be accessed through www.osclaunchpad.ca, and already accepting now requests for support from eligible fintech businesses.
Although arguably late to the race, OSC Launchpad has caught up by having its sandbox regime in a bid to follow pace with many jurisdictions that launched their own proposals for similar regulatory sandboxes. Such initiatives seek to create a safe space in which Fintech firms can test innovative products and services without immediately incurring all the normal regulatory consequences of engaging in such activity.
Maureen Jensen, Chair and CEO of the OSC commented: “This is an exciting opportunity for Canadian innovators. With OSC LaunchPad, emerging fintech businesses now have an opportunity to work with securities law experts from day one. This initiative reflects the OSC’s commitment to regulation that is in step with innovation.”