Evolving Fintech Regulation
The BC Securities Commission takes a flexible approach securities regulation, and actively participates in several initiatives to apply that flexibility to the fintech industry while maintaining protection for investors. Two of those initiatives are the Canadian Securities Administrators (CSA) Regulatory Sandbox and the Global Financial Innovation Network (GFIN).
- Global Financial Innovation Network
- GFIN Resources
Global Financial Innovation Network
GFIN is an international network of financial regulators and related organizations committed to supporting financial innovation in the interests of consumers. The BCSC is a board member of GFIN and is part of the GFIN coordination group.
GFIN seeks to provide an efficient way for innovative firms to interact with regulators across jurisdictions, and to help them navigate between countries as they look to scale new ideas.
GFIN has three primary functions:
- To act as a network of regulators to collaborate and share experiences with innovation in respective markets, including emerging technologies and business models, and to provide accessible regulatory contact information for firms;
- To provide a forum for joint regtech work and collaborative knowledge sharing/lessons learned; and
- To provide firms with an environment in which to trial cross-border solutions.