The BCSC is enlisting the help of fintech and tech companies to develop flexible and balanced regulation
The BCSC has come out with an online survey, published a new tech industry webpage, and assembled a dedicated tech team in an ongoing effort to reach BC fintech and tech companies, along with other stakeholders in the sectors.
“The BCSC supports innovation and the adoption of new technologies in the financial services sector,” said BCSC Chair and CEO Brenda Leong. The regulator is also working with other Canadian securities regulators to facilitate timely and harmonized reviews of registration and applications for exemptive relief.
The broad tech sector and the narrower fintech space have been expanding in the province, developing novel approaches to delivering various service platforms, including investment advice, crowdfunding, and online marketplace lenders. Current fintech BCSC registrants include 10 robo-advisory firms and nine portals deemed exempt market dealers. Seven firms have been deemed exempt from registration as crowdfunding portals.
Any individual involved in the tech industry is invited to complete the BCSC’s survey, which will be open on their new tech industry page until Feb. 21. Along with the survey, the page hosts consolidated guidance and resources the regulator has developed over the years, as well as contact information for the BCSC’s tech team.
Information obtained from the survey, as well as from the regulator’s ongoing fieldwork, will be used by the BCSC to determine next steps.
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“The BCSC supports innovation and the adoption of new technologies in the financial services sector,” said BCSC Chair and CEO Brenda Leong. The regulator is also working with other Canadian securities regulators to facilitate timely and harmonized reviews of registration and applications for exemptive relief.
The broad tech sector and the narrower fintech space have been expanding in the province, developing novel approaches to delivering various service platforms, including investment advice, crowdfunding, and online marketplace lenders. Current fintech BCSC registrants include 10 robo-advisory firms and nine portals deemed exempt market dealers. Seven firms have been deemed exempt from registration as crowdfunding portals.
Any individual involved in the tech industry is invited to complete the BCSC’s survey, which will be open on their new tech industry page until Feb. 21. Along with the survey, the page hosts consolidated guidance and resources the regulator has developed over the years, as well as contact information for the BCSC’s tech team.
Information obtained from the survey, as well as from the regulator’s ongoing fieldwork, will be used by the BCSC to determine next steps.
Related stories:
How to win the war against robos
RBC taps tech experts in innovation push
