Regulators try to boost FinTech adoption – Investment Executive

Nov 23, 2020

An article in Investment Executive explores how securities regulators are adapting to the use of technology and accelerating FinTech-related work during the COVID-19 pandemic. In her article, author Fiona Collie discusses how e-signatures and artificial intelligence have become increasingly important throughout the pandemic and the implications for regulators. She cites how the Investment Industry Regulatory Organization of Canada (IIROC) issued exemptive relief for client signatures as well as for other issues, while the Mutual Fund Dealers Association of Canada (MFDA) updated its guidance on e-signatures in June 2020.

The article also discusses the CSA’s focus on emerging digital trends, citing its CSA Regulatory Sandbox initiative as an example. According to the article, “the sandbox launched in 2017 with a mandate to let financial services businesses test innovative products and services while still keeping investor protection measures in place.”

Lori Stein, a partner in Osler’s Investment Funds and Asset Management Group, was involved in an application by Wealthsimple Digital Assets Inc. – a Toronto-based cryptoasset trading platform – to access the sandbox. Lori says that regulators “were responsive and flexible” throughout the process.

For more information, read author Fiona Collie’s article “Regulators try to boost fintech adoption” in Investment Executive on November 23, 2020.