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ARTICLE · 25 MAY 2017

Fintech: A Global Review Of Current Issues

Bennett Jones LLP
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Financial technology (FinTech) is changing how money changes hands, and FinTech is evolving faster than the law.

CanadaTechnology
Bennett Jones LLP
Bennett Jones LLP
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Financial technology (FinTech) is changing how money changes hands, and FinTech is evolving faster than the law. The rapid and recent advent of FinTech has left regulators around the world playing catch up, with the current rules being ineffectively imported from regulatory models fit for traditional banking and financial services.

The Canadian regulatory landscape

In October of last year, the Ontario Securities Commission launched a hub called LaunchPad, to assist FinTech companies with navigating and tailoring the regulatory framework to the needs of the individual business. This hub has been created with the recognition that some existing regulatory requirements do not make sense for this new business model.

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