OSC LaunchPad has been made a permanent feature of the Ontario Securities Commission.
Pat Chaukos, OSC LaunchPad chief, made the announcement at an industry conference in Toronto on Thursday.
“This announcement is a commitment to innovation for the long term,” Chaukos said, “and we look forward to continuing our work with fintech businesses.”
Since OSC LaunchPad was created a year ago, several other regulators have set up similar initiatives. As well, the Canadian Securities Administrators has established a regulatory sandbox, which allows innovative companies to test novel products and services on a limited basis without fully meeting the existing regulatory requirements that may apply.
Earlier this week, the Ontario government announced the creation of a working group to develop a strategy to enhance the province’s fintech industry. The group includes venture capitalists, lawyers, entrepreneurs and policymakers, including Maureen Jensen, OSC chairwoman and CEO.