Fintech Consultation

BCSC Fintech Advisory Forum

The BCSC Fintech Advisory Forum is a forum to discuss fintech innovations and related regulatory issues. Comprised of fintech industry professionals and experts, the forum advises BCSC staff on fintech trends and developments, including opportunities and risks. As well, the forum provides input on fintech issues in the securities industry and related securities law issues.

Serving on the forum is voluntary, and members are invited to serve for two-year terms. Members are selected based on their experience in current and developing areas of fintech. Knowledge of BC capital markets, technological expertise, and familiarity with issues faced by fintech companies are also desired assets.

This is the second cohort of members. Members are to serve for a 2 year term expiring in June 2025.

• Barbara Hendrickson, Managing Partner, BAX Securities Law
• Darryl Hatton, Founder & CEO, ConnectionPoint
• Dohyung “DH” Kim, CEO, Finhaven
• Julie Bogle, Partner, Corporate Capital Markets, BLG
• Karia (formerly Ben) Samaroo, Co-Founder, Atlas One Digital Securities
• Kevin Tam, Senior Branch Compliance Supervisor, Alternative Registered Operations Principal, Raymond James
• Khris Singh, Advisor, Government Relations and ESG, Canadian Credit Union Association
• Mike Stephens, Partner and Member of the Emerging Technology Group and National Lead, Fintech Industry Group, Fasken Martineau DuMoulin LLP
• Phil Sham, CEO, Aquanow
• Robert Piasentin, National Co-Group Head, Technology and Technology Transactions Industry Group, National Chair, Tech Law Group, and National Co-Chair, Startups and Emerging Companies, McMillan
• Sam Gharegozlou, President, Axiom Zen
• Usman Sheikh, Chair of Blockchain & Fintech Practice at Baker McKenzie, LLP
• Zach Masum, Manager, Legal Services, Capital Markets Regulation, BC Securities Commission (Chair)
• Elliott Mak, Senior Legal Counsel, Capital Markets Regulation, BC Securities Commission (Chair)

BCSC Consultations on Fintech and Innovation

Interest in fintech has increased in recent years, and the BCSC is staying at the forefront of developments. Our regulatory approach to fintech is a supportive one, which facilitates new, more efficient paradigms while ensuring continued protection to investors, and emphasizing appropriate collaboration between industry and regulators.,

To facilitate our regulatory approach, we consult regularly with local stakeholders about fintech developments and innovations in order to further understand novel business models. Some examples of this include:

• Our 2018 and 2019 consultations with crypto-asset trading platforms, to understand their operations, and to assist in formulating regulation tailored for their business models. For background information on some of the issues raised in these consultations, see CSA Consultation Paper 21-402 Proposed Framework for Crypto-Asset Trading Platforms.
• Our 2018 fintech notice and request for comment geared towards gathering input on potential ways to clarify and modernize BC securities laws. The notice summarized consultation activities in five key areas: crowdfunding and online lending, online advisers, crypto-asset funds, initial coin offerings, and fintech regulation in the future
• Our 2017 fintech outreach, which was geared towards understanding the challenges faced by the crowdfunding, robo-advising, and online lending sectors

Outside of formal consultations, we also receive comments on securities regulation through outreach activities conducted by our Fintech & Innovation Team, which we use to inform our regulatory approach going forward.

We conduct consultations on a periodic basis. To stay informed of consultations relevant to fintech and innovation, be sure to check our Fintech and Innovation page regularly. To stay up-to-date on all BCSC news, we encourage you to subscribe to our email notifications list. A subscription to this list will provide you with information on enforcement matters, BCSC events, news releases, and policy publications. We also post regular updates to our LinkedIn and Twitter pages.

BCSC Fintech and Innovation Team (FIT)

Our Fintech and Innovation Team (FIT) can answer questions regarding regulatory issues related to your business. FIT actively engages in outreach to the BC fintech community, and is interested in hearing from businesses, stakeholders, and entrepreneurs.

You can email the team at fit@bcsc.bc.ca or contact us through BCSC Contact Centre at 604-899-6854 or 1-800-373-6393 (toll free).