On December 9, 2020, and British Columbia Securities Commission (BCSC) joined the Ontario Securities Commission (OSC), Alberta Securities Commission (ASC), and the Autorité des marchés financiers (AMF) inviting businesses to apply to test innovative products, services and business models across international borders. According to the release, eligible firms will be able to simultaneously test and scale innovative products or services include fintech products in multiple jurisdictions, while also gaining insights into how their business might operate in these markets.
Led by the Global Financial Innovation Network (GFIN), this cross-border initiative is currently chaired by the Financial Conduct Authority (FCA) in the United Kingdom The GFIN consists of 60 international organizations, committed to supporting financial innovation in the interests of consumers, including 23 organizations committed to cross-border-testing.
For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.
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