The Global Financial Innovation Network releases the report on its first year of operation

Organization

Montréal – Today the Autorité des marchés financiers is pleased to announce the publication of the Global Financial Innovation Network’s (“GFiN”) “One Year On” report.

“The details of the report published today highlight the rigor and proactivity with which international regulators and related organisations worked together over the last year to support financial innovation and to create a framework for co-operation between regulators to share experiences and approaches to innovation,” said Louis Morisset, President and Chief Executive Officer of the Autorité des marchés financiers. “The central role we play within the GFiN allows us to participate fully in discussions regarding the regulation of financial innovation, which is thriving and knows no borders.”

The GFiN has rapidly grown over the past year from its 12 founding members, to be a global dialogue with 35 Member Regulators and 7 Observers from 21 jurisdictions. And it continues to grow.

The “GFiN – one year on report” sets out what the GFiN has been doing over the past year, the challenges it has faced, achievements, and its ambitions for the future. It is also to show that it is listening to stakeholders and welcomes feedback in order to ensure that the GFiN continues to add value.

GFiN members look forward to the next year of engagement and to improving ways of working together for the benefit of innovative firms and other stakeholders.

The AMF is a member of the GFiN’s coordination group and will host the group’s next meeting, which will be held in Montréal this October.

Key facts:

  • 35 members and 7 observers from 21 jurisdictions.
  • 99 responses from 26 jurisdictions received in response to the initial GFiN consultation.
  • 44 applications from 17 jurisdictions for the inaugural GFiN cross-border test pilot with 8 firms being selected to develop testing plans.
  • Nearly 60 representatives attended the first biannual meeting of the GFiN held in London in May.

The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.

– 30 –

Information:

Media only:
Sylvain Théberge: 514-940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337
Twitter:@lautorite This link will open in a new window
LinkedIn : Autorité des marchés financiers (Québec)This link will open in a new window