David Durand, Advisor, Innovation and Advocacy
September 9th, 2020
David Durand, LL.L., B.Sc. chem., – Founder and Managing Partner of Durand Lawyers – Lawyer (Québec)[...]
OSC unveils charter for office to promote innovation and reduce regulatory burden
Financial Post | Barbara Shecter | Oct 29, 2020
A charter unveiled Thursday by a newly created branch of the Ontario Securities Commission lays the groundwork for new forms of capital raising, more avenues for innovators and a reduced regulatory burden.
The document guiding the OSC’s new Office of Economic Growth and Innovation branch is in keeping with a broader push by the Ontario government to ensure the province is “open for business” and to lower business costs.
See: How regulatory collaboration transformed markets
“The OSC has a role to play in creating conditions that attract capital, talent and new ideas to Ontario’s capital markets,” said Grant Vingoe, acting chair and chief executive of the OSC.
Among the charter’s pledges is the implementation of a “regulatory sandbox” that will allow novel ideas and startups to be tested while free from the rules and regulations that apply to other businesses under the purview of the regulator.
See: NCFA Response to the Modernizing Ontario’s Capital Markets Consultation Taskforce
An existing regulatory testing ground for innovation, OSC Launchpad, will be broadened to test new forms of capital formation including crowdfunding and angel investment networks.
Continue to the full article --> here
Further information on OSC's Innovation Charter and Release --> here
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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