Technological innovation in the financial sector, or “fintech,” has become an inescapable reality that will change consumer habits and the way the industry conducts business over the next few years.
As the regulator of Québec’s financial sector, the AMF has set up a working group whose primary mandate is to analyze fintech developments and anticipate related regulatory and consumer protection issues. The AMF is therefore closely studying these matters and their impact on the industry and consumers.
The AMF will launch various initiatives over the next few months so it can serve as a go-to point of contact for all industry stakeholders interested in technological innovation in the financial sector.
The Canadian Securities Administrators (CSA) launched its Regulatory Sandbox to support fintech businesses seeking to develop and offer innovative products, services and applications in Canada. Interested firms must contact the securities regulatory authority for their territory and undergo an evaluation process. The selected firms will be able to register and/or obtain exemptive relief from obligations under securities legislation through a faster and more flexible process, and test their models throughout the Canadian market on a time-limited basis.
For more information
Questions? If you would like more information about Fintech, contact us:
Québec City: 418 525-0337
Montréal: 514 395-0337
Toll-free: 1 877 525-0337