Canadian regulators sign agreement with the Financial Conduct Authority

Monday 22 April 2019 13:53 CET | News

The securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Québec and Saskatchewan have announced an agreement with the UK`s FCA.

The agreement extends the work of the CSA Regulatory Sandbox Initiative and the FCA Innovate project. These innovation functions provide a controlled environment for businesses to develop and test new solutions that promote efficiency and consumer choices in the financial sector.

CSA members have also signed agreements with the Abu Dhabi Global Market Financial Services Regulatory Authority, the Australian Securities and Investments Commission and the French Autorité des marchés financiers. Cooperation agreements are subject to the domestic laws and regulations of each authority and do not modify or supersede any applicable laws or regulatory requirements in force in, or applicable to, any such authoritys respective jurisdiction.

The CSA, the council of the securities regulators of Canadas provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.

The Financial Conduct Authority is the conduct regulator for 56,000 financial services companies and financial markets in the UK and the prudential regulator for over 18,000 of those companies.

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Keywords: regulators, agreement, Financial Conduct Authority, innovation, finance
Countries: World