On October 29, 2020 the Ontario Securities Commission (OSC), Alberta Securities Commission (ASC) and Autorité des marchés financiers (AMF) announced that they are inviting businesses in their respective markets to apply to test innovative products, services and business models across international borders. The initiative allows eligible firms to simultaneously test and scale innovative products or services in multiple jurisdictions.
The cross border initiative is led by the Global Financial Innovation Network (GFIN), and is supported by 23 regulators across five continents. The GFIN has published a ‘Regulatory Compendium’ for businesses interested in participating in the initiative, which sets out the roles and responsibilities of the participating regulators and the innovation services available in those markets.
Interested businesses are asked to fill out one application, through the single-entry portal, to test in multiple markets. Applications are due by December 31, 2020.
Please see: https://www.osc.gov.on.ca/en/NewsEvents_nr_20201029_osc-asc-amf-invite-businesses-to-participate-in-cross-border-testing.htm
For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.
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