CALGARY – January 31, 2019 – To help support innovation in the capital markets and the fintech (financial technology) industry, the Alberta Securities Commission (ASC) has become a member of the Global Financial Innovation Network (GFIN).
GFIN is comprised of 29 organizations including regulators from around the world, aiming to enhance information sharing between financial services regulators on innovation related topics. The group plans to provide a more efficient way for innovative firms looking to operate in multiple countries.
“The ASC actively participates on the Canadian Securities Administrators’ Regulatory Sandbox Committee which facilitates cooperation across Canada in assessing technological innovations that intersect with securities regulation,” said Denise Weeres, Director, New Economy at the ASC. “Joining GFIN allows us to expand these efforts on a global scale and provides a forum for sharing experiences and approaches to new regulatory technology.”
Consultation conducted by the GFIN indicated widespread support for regulatory collaboration and creating an environment that allowed firms to simultaneously trial and scale new technologies in multiple jurisdictions. For more information or to participate in upcoming testing in Alberta, firms can visit this GFIN Page.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
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