On July 8, 2021, the Canadian Securities Administrators (CSA) signed an innovative functions co-operation agreement with the Securities and Futures Commission of Hong Kong (SFC). The members are the securities regulatory authorities in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick and Nova Scotia.
The agreement extends the work of the CSA Regulatory Sandbox, an initiative of the CSA to support fintech businesses seeking to offer innovative products, services and applications in Canada as well as the work of SFC’s’ Fintech Contact Point to enhance communication with businesses involved in the development and application of fintech which intend to conduct regulated activities in Hong Kong. Notably, it includes a referral mechanism for innovative businesses, and enhances and clearly defines the scope of information-sharing between these jurisdictions.
For more information please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.
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