Category Archives: Press Releases

NOVACAP officially launches its new financial services fund

Novacap | Release | Dec 3, 2019

Novacap - NOVACAP officially launches its new financial services fundNovacap is the first private equity firm in Canada to launch a fund dedicated to financial services.

MONTREAL, Dec. 3, 2019 /PRNewswire/ - Novacap, one of Canada's leading private equity firms, announced the introduction of a new sector fund and its first closing. Novacap Financial Services I (the "Fund") gathered initial commitments of C$260 million, a strong start toward its target of C$500 million. A second group of institutional investors is expected to close in Q1 2020.

Driven by strong demand from new and existing investors, the Fund will be managed by three seasoned executives: Marcel Larochelle, as Managing Partner, as well as Rajiv Bahl and Alain Miquelon as Senior Partners. With a dedicated investment team, they will fully leverage Novacap's infrastructure and apply Novacap's proven investment methodology.

Novacap Financial Services I aims to invest in mid-market companies established in North America, with a focus on Canada, with strong growth potential.  Four segments are of particular interest: 1-specialty insurance and distribution, 2-asset and wealth management, 3-alternative lending and 4-financial infrastructure.

The Fund will make equity investments in order to support companies with their organic growth initiatives and to drive strategic acquisitions.

See:  Portag3 Ventures closes $320 million second fund focused on fintech investment

The Fund is backed by commitments from corporate and public pension funds, financial institutions, family offices and high net-worth individuals. "We are extremely pleased with the strong support received from our investors for this first close." said Mr. Marcel Larochelle, Managing Partner of Novacap Financial Services, "This is very timely, as we are currently pursuing some very attractive investment opportunities for the Fund."

"It is a historical event as we are the first private equity firm in Canada to launch a fund dedicated to financial services businesses" said Mr. Pascal Tremblay, President and CEO of Novacap, "The Financial Services fund addresses a significant need in the Canadian market that we have observed over the past few years.  I am very proud of the team that we have assembled, who made this possible."

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NCFA Jan 2018 resize - NOVACAP officially launches its new financial services fund The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Portag3 Ventures closes $320 million second fund focused on fintech investment

TechCrunch | Darrell Etherington | Dec 3, 2019

portage ventures - NOVACAP officially launches its new financial services fund

Canadian venture capital firm Portag3 Ventures has closed a second fund focused on investing in fintech startups, with final commitments from institutional and strategic LPs totally $427 million CAD (around $320 million USD). The fund will focus on early-stage investments, and it’ll look to invest in companies globally, but with a particular focus on Canada, the U.S., Europe and some markets in the Asia-Pacific region.

“We’re on a mission to build global champions from a Canadian base,” Portag3 CEO Adam Felesky told TechCrunch regarding the firm’s base of operations and investment targets. “Canada has the talent, the expertise and one of the biggest markets in the world directly to our south.

All the ingredients are there, we just need more success stories — and we are on our way to getting them. Success will breed more success. In order to understand what it takes to succeed globally, you need to invest and work with the best of the best from around the world.

Many of the early fintech unicorns are based in Europe on the back of substantive, helpful policy changes. Canada needs to learn from these examples so we get the right ingredients for building a leading, vibrant ecosystem — and we slowly but surely are.”

Contributors to this new fund include Alterna Savings and Credit Union, Aviva France, BDC Capital, Caisse de dépôt et placement du Québec, CNP Assurances, The Co-operators, Eldridge Industries, Green Shield Canada and more. The list includes a lot of strategic investors, including LPs from Portag3’s first $198 million CAD ($149 million USD) close for this fund, which was announced in October 2018.

Portag3’s Fund II has already been making investments prior to this final closing, and has already put money into KOHO, Clark, Integrate.ai and startup-builder Diagram Ventures, along with 13 other startups. Its first fund invested in a number of fintech-related companies, including Clearbanc, Drop, League and Wealthsimple, as well as some companies that have already exited, including Wave, Quovo and Zensurance.

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NCFA Jan 2018 resize - NOVACAP officially launches its new financial services fund The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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BMO restructuring charge to lead to hundreds of job losses

CBC | BMO Release | Dec 3, 2019

BMO - NOVACAP officially launches its new financial services fundBMO says restructuring charge to affect about 5% of global workforce, without offering specifics

The Bank of Montreal's fourth-quarter profit fell to $1.19 billion as it was hit by a restructuring charge related primarily to severance that will affect about five per cent of its global workforce.

The bank said Tuesday the quarter ended Oct. 31 included a $357-million restructuring charge as a result of a decision to accelerate delivery of digitization initiatives and simplification of the way it does business.

Part of reason for the move was lower margins from its personal and commercial banking business in the United States as a result of lower interest rates, as well as slower U.S. economic growth expected next year, officials said.

BMO didn't reveal details about where or when the job cuts will occur, but it had about 45,513 employees at the end of October. A five per cent cut suggests about 2,275 jobs would be affected.

Based on the geographic breakdown of BMO's workforce, the restructuring could affect roughly 1,500 jobs in Canada and 775 in the United States.

See: 

Chief financial officer Tom Flynn said the efficiency initiatives announced Tuesday will provide annual savings of $200 million in its 2020 financial year, which began Nov. 1, and about $375 million by the first quarter of its 2021 financial year.

"I would expect the savings that we've talked about to flow through each of our businesses in a fairly representative way … both by operating group and by geography," Flynn told analysts on a conference call.

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NCFA Jan 2018 resize - NOVACAP officially launches its new financial services fund The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Ontario Has a Plan to Create a More Competitive Business Environment

Ontario Ministry of Finance | Nov 21, 2019

Rod Phillips Ontario MoF - NOVACAP officially launches its new financial services fundPlan will reduce burden for investors and improve capital market efficiency

TORONTO — The Ontario government is attracting investment and helping businesses grow by modernizing the regulation of the province's capital markets.

Finance Minister Rod Phillips discussed the government's plan to strengthen investment, promote competition and facilitate innovation — positioning Ontario as a leading capital markets jurisdiction — at today's Ontario Securities Commission (OSC)'s Dialogue 2019 conference.

"Confidence in capital markets is vital for businesses looking to create jobs and strengthen the economy — and for individuals and families looking to invest for the future," said Minister Phillips. "The government has a plan to support more competitive and more efficient capital markets in Ontario, so individuals and families can invest and grow their savings, and businesses can tap into the capital funding they need to grow, innovate and evolve."

Ontario is creating a modernized securities regulatory framework responsive to today's globalized financial markets. The government is creating a securities modernization task force to review the outdated Securities Act for the first time in over 15 years. The task force will consult with investors, financial services professionals, businesses and the public on critical areas such as competitiveness, regulatory structure, efficient regulation, and investor and consumer protections.

See:  Lagging regulation, consumer trust inhibiting FinTech adoption in Canada

The government is also proposing to implement a title protection framework for financial planners and advisors. In Ontario today, families and businesses risk receiving financial planning and advisory services from individuals who may not be appropriately qualified to help them save for the future. Reforming how titles are used would help weed out bad actors and strengthen consumer confidence in these professions.

"The OSC is an important partner in modernizing securities regulation. The government looks forward to reviewing the OSC Burden Reduction Task Force's report and implementing its recommendations on enhancing the competitiveness of Ontario's business environment," said Minister Phillips.

The government has tabled legislation, which, if passed, would support greater efficiency in capital markets by allowing the OSC to issue blanket orders.

"By modernizing financial services and securities, we are helping to make Ontario the most attractive place in North America to invest, grow a business and create jobs," said Minister Phillips.

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NCFA Jan 2018 resize - NOVACAP officially launches its new financial services fund The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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RBC leads $20 million Highline Beta fund that helps start-ups sell to large corporations

Highline Beta | Nov 19 ,2019

highline beta closes first fund - NOVACAP officially launches its new financial services fundWith RBC as the lead private investor, Highline Beta’s inaugural fund forms part of the Government of Canada’s Venture Capital Catalyst Initiative.

TORONTO, November 19, 2019 - Highline Beta, a leading new venture development and venture capital firm known for its unique corporate innovation model, today announced the first close of its inaugural investment fund, Highline Beta Fund 2019 (“The Fund”).

This predominantly Pan-Canadian fund will make up to 30 investments in startups co-created or partnered alongside corporations, and is one of only seven funds selected by the Government of Canada’s Venture Capital Catalyst Initiative, with Royal Bank of Canada (RBC) as the lead private investor.

Highline Beta believes it can improve upon the features of traditional startup accelerators and corporate-startup engagement programs to achieve more meaningful win-win relationships. Highline Beta has spent years collaborating with a roster of global corporations such as RBC, Anheuser Busch InBev, Aviva Canada and American Family on growth mandates beyond their core businesses to reimagine the industries we live in through startup innovation.

See:  Why venture capital firms need more women partners and entrepreneurs

“Almost four years ago, we pioneered a hybrid corporate venture studio and venture capital model alongside global enterprises that maximizes success for the corporate partner, startups and venture investors. We’ve taken our deep experience as tech founders, accelerator stage investors and corporate innovation architects to create a new model for corporate-startup collaboration that works.

Today’s Highline Beta Fund announcement helps to solidify our leadership in the Pan-Canadian innovation ecosystem as we accelerate our co-creation work and investments with global 1000 enterprises,” says Marcus Daniels, Highline Beta Founding Partner and CEO.

“Not only is this a unique model in Canada, but the goal for Highline Beta is to become a global category leader over the next decade that helps to launch and invest in market-leading startups.”

Our corporate-startup venture model and Female Funders integration will generate better portfolio diversity and financial returns. 

The Fund’s first close signifies growing interest in the role of corporations building a portfolio of organic and inorganic growth opportunities using a venture capital approach. In turn, it also represents a shift in how startups navigate and co-innovate with corporations.

“It can be challenging for founders to navigate the complex corporate structures and paths to decision makers within large organizations,” says Lauren Robinson, General Partner at Highline Beta and Executive Director of Female Funders. “Highline Beta’s corporate programs accelerate the path to commercial deals to better support our founders with validation through customer pilots to drive metrics for follow-on funding.”

Increasingly, corporate executives are seeing their roles shift to focus on innovation and defining the future of their industries. To ensure systemic change for the funding landscape and underrepresented women founders, Highline Beta has integrated its Female Funders investment education program into their overall fund operations, resulting in a more diverse group of investors, executives and founders at the table. This will unlock new pools of capital and expertise for startups and investors across the venture capital ecosystem, while driving better returns for the portfolio.

See:  Agents of Change: Making innovation agencies as innovative as those they support

“BDC Capital has been a valued partner to Highline Beta since inception," said Jerome Nycz, Executive Vice-President, BDC Capital. "Highline Beta has taken an innovative approach to scaling startups with global enterprises and funding world-class entrepreneurs, and we are supportive of their efforts to drive growth through diversity in the Canadian venture capital ecosystem."

Co-Creating startups with leading corporations creates true unfair advantage, leading to unique investment opportunities

“Corporate executives know it’s not easy to innovate from within. We believe large companies should take a balanced approach by also building a portfolio of venture profile investments on the outside. We empower external startups to work effectively with corporate partners to pursue the creation of truly scalable opportunities that couldn’t be imagined without either stakeholder being deeply committed,” says Ben Yoskovitz, Highline Beta’s Founding Partner and co-author of Lean Analytics.

Startups that go through corporate accelerators and commercialization programs powered by Highline Beta are driving the future of corporate growth. RBC, AB InBev’s 100+ Sustainability Accelerator and Safe x Connected Cities with Aviva Canada generate early entry-points to deal flow not accessible to traditional institutional investors.

“RBC is working with Highline Beta to take a startup-centric approach to tackle some of the most interesting opportunities to serve Canadians,” says Mike Dobbins, Chief Strategy & Corporate Development Officer, RBC.

“An investment in The Fund allows RBC to extend our commitment to the startup collaboration model championed by Highline Beta and provides a way for RBC to continue to support these newly-created companies to create differentiated value for our clients.”

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NCFA Jan 2018 resize - NOVACAP officially launches its new financial services fund The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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OSC makes doing business easier for market participants

OSC | Release | Nov 19, 2019

OSC burden reduction Nov 2019 - NOVACAP officially launches its new financial services fund

 

TORONTO, Nov. 19, 2019 /CNW/ - The Ontario Securities Commission (OSC) is moving forward with more than 100 specific actions to reduce burden for market participants doing business in Ontario's capital markets. As these changes are made, individuals and businesses regulated by the OSC can expect to see enhanced service levels, less duplication and a more tailored regulatory approach.

"The OSC has made major progress in reducing the burden for Ontario's market participants," says the Honourable Rod Phillips, Ontario Minister of Finance. "I want to commend Chair Maureen Jensen and her entire team for moving in short order to streamline regulations without compromising investor protection."

The changes will make it easier to start, fund and grow a business in Ontario, and make Ontario's markets more competitive. While these initiatives will benefit businesses of all sizes, the OSC has carefully considered opportunities to benefit small and medium-sized companies, which make up nearly 70 per cent of those regulated by the OSC, and smaller registrant firms, which make up nearly a third of Ontario registrants.

 


NCFA Advocacy on Burden Reduction:

March 1, 2019: NCFA Submission to the Ontario Securities Commission on Regulatory Burden

NCFA Letter to Ontario Economic Development on Burden (Jan 2019)


"We've taken a good look at our work to see how we can do things better," says Maureen Jensen, Chair and CEO of the OSC.

"Our progress in just under a year shows our commitment to working differently, and I would like to thank the Ministry of Finance for their support throughout this process."

Highlights include:

  • Small and medium-sized businesses that are registrants will see clear service standards for compliance reviews, and, in appropriate cases, be able to hire a Chief Compliance Officer (CCO) who acts in that role for other, unaffiliated firms. Companies will see more support for raising capital in the public markets, through a confidential prospectus review process prior to announcing an IPO or other financing.

  • Innovative businesses and startups will receive more flexibility in the OSC's approach to registration, resales in the secondary market, and other regulatory requirements. Individuals applying to be CCO of fintech firms will be assessed based on their qualifications and on their broader business experience, and how the experience aligns with the firm's business model. Startups seeking financing will see crowdfunding rules harmonized across the country.

  • Large businesses will see duplicative filing requirements eliminated in investment funds and registration rules; delivery of documents, like prospectuses, electronically; and measures to facilitate the registration of multiple CCOs for large registrants with multiple lines of business. Public companies will have the ability to conduct at-the-market offerings without obtaining prior exemptive relief.

The 107 initiatives outlined in the report address 34 underlying concerns identified by staff during the consultation process. The initiatives will address those concerns by clarifying regulatory expectations, improving technology, enhancing coordination with other regulators, and providing greater support during regulatory interactions.

Several burden reduction initiatives have already been implemented by the OSC in 2019, including;

  • removal of fees for delayed outside business activity filings in May,
  • pre-file program for mining issuers' technical disclosure in June,
  • removal of dated requirement for investment fund managers to apply to act as trustees in June, and
  • flexible fees certification process for market participants in September.

Initiatives that fall entirely within the OSC's purview will be implemented within a year. Other changes will be addressed over a longer time frame, as they require legislative amendments, harmonization with other regulators, or long-term investments in technology, systems or expertise.

"I would like to express my deep gratitude to our dedicated Burden Reduction Task Force team for working diligently to land on more than 100 tangible ways we can reduce burden for our market," added Chair Jensen.

In November 2018, the OSC established the Burden Reduction Task Force to identify ways to enhance competitiveness for Ontario businesses and to reduce regulatory burden. Led by the taskforce, the OSC conducted extensive stakeholder consultation to gather feedback on areas for improvement. The OSC received 69 comment letters and 199 suggestions from market participants and investors on possible reforms.  Each was carefully evaluated by staff on the basis of its impact, practicality and potential cost savings.

See:  ‘Underwhelming’ financial services sector contributes to lagging productivity: report

This burden reduction initiative is a central component of the Ontario government's five-point plan for creating confidence in our capital markets which was addressed in the Government of Ontario's Open for Business commitment in 2018.

As part of the ongoing modernization process, the OSC's new Office of Economic Growth and Innovation will support long-term burden reduction efforts and provide a platform for ongoing feedback and dialogue with market participants.

The Reducing Regulatory Burden in Ontario's Capital Markets report can be found on the OSC's website.

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Financial Post | Barbara Shecter | Nov 19, 2019

OSC's ‘burden reduction’ overhaul to save businesses millions

Maureen Jensen OSC chair - NOVACAP officially launches its new financial services fundBusinesses regulated in Ontario’s capital markets will save close to $8 million a year following implementation of a swath of new “burden reduction” reforms to be unveiled Tuesday by the Ontario Securities Commission.

The OSC overhaul is a central component of the Ontario government’s pledge to put an “open for business” stamp on the province. It consists of more than 100 specific actions, from simplified registration for large companies with multiple business lines, to the elimination of duplicative and arbitrary filings that don’t reflect the adoption of technology, to “tailored” rules for small firms.

The aim is “to make it easier to do business, but still be clear about the rules of the road,” OSC chair Maureen Jensen said in an interview.

The reduced costs have been calculated for only 21 of the 107 planned reforms so far, she said, adding that further savings could come from reduced fees if fewer regulatory services are required.

Jensen announced the creation of a burden-reduction task force last November, following the June election of Doug Ford’s Progressive Conservative government.

In its spring budget last year, the government laid out a five-point plan to “create confidence” in Ontario’s capital markets, which included the establishment of an Office of Economic Growth and Innovation at the OSC, and an emphasis on “economically focused rule making.”

The result is the OSC’s 108-page report to be released Tuesday, which lays out a plan to address 34 concerns gathered from industry players and investors, including making it easier to navigate the regulatory process and creating more tailored and flexible regulation for companies and investment firms of various sizes.

See:  Competition Bureau weighs in on fintech: urgent action required

In a statement, Ontario’s minister of finance, Rod Phillips, praised Jensen and the OSC for “moving in short order to streamline regulations without compromising investor protection.”


 

NCFA Advocacy for Regulatory Change Supporting Canadian Fintech Innovation

NCFA's Submission to Finance Canada March 2018:  Urgent need for regulatory change and government support

NCFA's Submission to Ontario Finance Minister Nov 4, 2017:  Urgent need for regulatory change

More Advocacy Initiatives undertaken by NCFA

 


Investor advocates have been skeptical about the Ford government’s strong public views on regulation of the financial markets, fearing that the pro-business stance would be detrimental to the OSC’s mandate of investor protection.

But Jensen countered that the investor protection mandate was a guiding force in determining what changes were made to lighten the regulatory burden for companies, with members of the task force required to ask themselves whether any change they were considering would diminish investor protection.

“If the answer was ‘yes,’ (the proposed change is) not in this report,” she said.

Overall, she said lower regulatory costs for businesses should be good news for those firms and for investors, who inevitably find the cost of doing business passed on to them.

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NCFA Jan 2018 resize - NOVACAP officially launches its new financial services fund The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Release: Canadian securities regulators sign Fintech co-operative agreement with the MAS

Canadian Securities Administrators | Nov 12, 2019

CSA enter - NOVACAP officially launches its new financial services fundMontreal and Singapore - Members of the Canadian Securities Administrators (CSA) have signed a fintech co-operation agreement with the Monetary Authority of Singapore (MAS). The members are the securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Québec and Saskatchewan.

The agreement extends the work of the CSA Regulatory Sandbox Initiative and the MAS Fintech and Innovation Group. Notably, it includes a referral mechanism for innovative businesses, and will enhance and clearly define information-sharing between these jurisdictions.

“This agreement with MAS will allow innovative businesses in Canada and Singapore access to new regulated markets,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Flexible regulatory environments with appropriate investor protection measures are best-placed to support the rapidly growing fintech industry.”

“Singapore and Canada are no strangers in fintech collaboration. MAS and Bank of Canada had collaborated on a project to explore cross-border payments transactions on blockchain. This co-operation agreement will strengthen our co-operation between the 2 countries, specifically in developing innovative solutions for the securities sector,” said Sopnendu Mohanty, Chief FinTech Officer, MAS.

The co-operation agreement exchange ceremony was held at the Canadian Pavilion at the Singapore FinTech Festival, which drew close to 50,000 people from around the world. The CSA was represented by Oumar Diallo, Director, Fintech and Innovation at the Autorité des marchés financiers, and H. Zach Masum, Manager, Legal Services at the British Columbia Securities Commission. MAS was represented by Jacqueline Loh, Deputy Managing Director (Markets & Development).

See: 

For certain CSA members, the agreement with MAS will come into effect once all governmental approvals have been obtained.

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NCFA Jan 2018 resize - NOVACAP officially launches its new financial services fund The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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