The Canadian Securities Administrators (CSA) and the participating jurisdictions of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, and Nova Scotia (the Participating Jurisdictions) have signed a cooperation agreement (the Agreement) with the Monetary Authority of Singapore (MAS), which is Singapore’s central bank and financial regulator.

The Agreement extends the work of the CSA Regulatory Sandbox Initiative and that of the MAS Fintech and Innovation Group. Notably, it includes a referral mechanism for businesses and will enhance the information-sharing between the CSA and MAS. It will allow businesses from each country access to the other’s regulated markets. In the past, the CSA and MAS have cooperated on a project to explore cross-border payments transactions on blockchain.

The Agreement will come into force in certain Participating Jurisdictions once governmental approval is received.

The complete text of the Agreement can be found on the websites of the participating jurisdictions.

For more information, please call Barbara Hendrickson at BAX Securities Law (416) 601 -1004.

This publication is not intended to constitute legal advice. No one should act on it or refrain from acting on it without consulting with a lawyer. BAX does not warrant or guarantee the accuracy or currency or completeness of the publication. No part of this publication may be reproduced without the prior written permission of BAX Securities Law.