{"id":268194,"date":"2017-02-22T10:55:00","date_gmt":"2017-02-22T15:55:00","guid":{"rendered":"https:\/\/www.investmentexecutive.com\/uncategorized\/osc-fca-sign-fintech-agreement\/"},"modified":"2019-02-15T02:55:44","modified_gmt":"2019-02-15T07:55:44","slug":"osc-fca-sign-fintech-agreement","status":"publish","type":"post","link":"https:\/\/www.investmentexecutive.com\/news\/from-the-regulators\/osc-fca-sign-fintech-agreement\/","title":{"rendered":"OSC, FCA sign fintech agreement"},"content":{"rendered":"<\/p>\n
The Ontario Securities Commission (OSC) and the U.K.’s Financial Conduct Authority (FCA) signed deal this week that will see regulators refer innovative financial technology (fintech) firms to one another in a bid to ease their entry into their respective markets.<\/p>\n
Under the terms of the arrangement, fintech firms based in Ontario will be able to call on the OSC for support in expanding to the U.K. and vice versa.<\/p>\n
“Once referred by the regulator, and ahead of applying for authorization to operate in the new market, the business will have access to dedicated staff that will help them to understand the regulatory framework in the market they wish to join, and how it applies to them,” the regulators note in a statement.<\/p>\n
The arrangement is intended to help fintech firms get to market faster by reducing the regulatory uncertainty that may face a firm looking to enter a new market. It follows on the heels of a similar arrangement between the OSC and Australian regulators that was struck last year.<\/p>\n