British Columbia Securities Commission Releases Fintech Request For Comment

On February 14, 2018, the British Columbia Securities Commission (BCSC) published a notice and request for comment (the "Notice") on the securities law framework for Fintech regulation in the province. The Notice summarizes the results of consultations the BCSC has undertaken in the Fintech space and poses related questions to stakeholders. The Notice provides useful information—and an important opportunity to provide input—for businesses with an interest in how regulatory rules for Fintech may change in the future.

The BCSC has actively monitored Fintech developments over the past 18 months. In January 2017, the BCSC established a dedicated support group, the Tech Team, for the Fintech sector and conducted a survey of Fintech stakeholders. The continued dialogue between the BCSC and stakeholders in the Fintech sector has led the BCSC to request comments on Crowdfunding, Online Advising, Cryptocurrency Funds, and Initial Coin Offerings/Initial Token Offerings (ICOs).