The Ontario Securities Commission (OSC) has issued a press release advising stakeholders that Ontario securities law may apply to any use of distributed ledger technologies (DLT), such as blockchain, as part of financial products or service offerings.
The OSC emphasized that it is keen to support the innovative potential of DLT because, among other things, DLT has the potential to increase transparency and efficiencies in the capital markets. However, because of DLT’s novelty, the OSC encourages business to speak to the OSC about securities law and investor protection requirements that may apply.
The OSC has cautioned that “[p]roducts or other … Continue Reading
On the heels of its OSC Launch Pad initiative, the Ontario Securities Commission (OSC) has announced another first – an agreement with the Australian Securities and Investments Commission (ASIC), under which innovative fintech companies in Ontario and Australia will be able to draw upon support from the combined resources of the OSC and ASIC as such companies seek to operate in the others’ market. One of the purposes of the arrangement is to help innovative fintech companies reduce regulatory uncertainty and time to market.
To qualify for the support offered by the agreement, innovative businesses will need to meet the … Continue Reading
As previously announced, the OSC has opened the OSC LaunchPad which consists of a dedicated team within the securities regulator to support Fintech businesses wishing to navigate securities law requirements.
The OSC LaunchPad will offer tailored support which can include time-limited exemptive relief to allow testing of innovative products and services.
In order to be eligible to receive support from the OSC LaunchPad, a business must meet certain criteria, including:
… Continue Reading
- Being a new or early-stage Fintech business that has not yet started operations or is applying to the OSC for exemptive relief.
- Having a new, innovative or significantly different