Fintech is a portmanteau of financial technology that describes an emerging financial services sector in the 21st century. Originally, the term applied to technology applied to the back-end of established consumer and trade financial institutions. Since the end of the first decade of the 21st century, the term has expanded to include any technological innovation in the financial sector, including innovations in financial literacy and education, retail banking, investment and even crypto-currencies like bitcoin.
OSC LaunchPad engages with fintech businesses, assists them in navigating the requirements and strives to keep regulation in step with digital innovation.
In short, LaunchPad help fintechs avoid costly regulatory surprises and accelerate time-to-market, alla while fulfilling their mandate to provide protections to investors and promote confidence in our markets.
The team engages with fintechs, provides them with guidance and flexibility in navigating the requirements and works to keep securities regulation in step with digital innovation. They also work to ensure that investor protections are addressed in a way that makes sense for this evolving landscape.
February 23, 2017 - The Canadian Securities Administrators (CSA or we) launched a regulatory sandbox, an initiative that supports businesses seeking to offer innovative products, services and applications.
November 14, 2017 - Barely more than a year ago, in October 2016, the Ontario Securities Commission (OSC) announced the creation of OSC LaunchPad, the first dedicated financial technology (fintech) unit at a Canadian regulator. The unit was founded to help fledgling technology-savvy firms navigate the often Byzantine world of securities regulation. At the time, the LaunchPad was an untested idea for regulators. Fast-forward to today and it has become a permanent fixture at the OSC.
December 11, 2017 – Over the past several months, interest in cryptocurrencies has increased significantly. The Investor Office commissioned a small online survey of Ontarians age 18 and over, carried out in November 2017, as a first step towards learning more about which segments of the Ontario public are purchasing cryptocurrencies, how Ontarians perceive the risks of cryptocurrencies, and some of the reasons why Ontarians either are or are not purchasing cryptocurrencies.
February 15, 2018 - A new survey of securities regulators by the North American Securities Administrators Association (NASAA) finds regulators are nearly unanimous in their concern about the risk of fraud stemming from initial coin offerings (ICOs) and cryptocurrencies.
August 07, 2018 - On August 7, 2018, the U.K. Financial Conduct Authority (“FCA”) announced the formation of the Global Financial Innovation Network (“GFIN”), comprised of 11 financial regulators, including the Ontario Securities Commission (“OSC”) and Autorité des marchés financiers (“AMF”).
TABB Group’s FinTech Research Practice focuses on providing actionable thought leadership and insight into the technology that drives and supports the institutional capital markets. Today’s hypercompetitive markets require both market participants and the solution providers who support them to understand the changing nature of financial technology.