Fintech innovators in seven Canadian jurisdictions will soon be
able to take advantage of a Co-operation Agreement that was
recently signed with the Financial Services Regulatory Authority of
Abu Dhabi ("the FSRA"). Under the agreement, the FSRA and
the securities regulators of Ontario, Quebec, Alberta,
Saskatchewan, Manitoba, New Brunswick and Nova Scotia ("the
Commissions") have agreed to:
- Share information on fintech issues
and trends; and
- Provide assistance to fintech
innovators from the other jurisdiction who wish to enter their
markets.
From a Canadian perspective, the Co-operation Agreement would
allow the Commissions to refer fintech businesses to the FSRA,
which would then assist them through the Abu Dhabi regulatory
process. FSRA staff with specific fintech expertise would continue
to be available to the Canadian companies post-authorization, as
needed. For their part, Abu Dhabi fintech innovators would enjoy
reciprocal treatment in the Canadian
