Regulators Sign an Agreement With the Financial Conduct Authority

industryspread

The Industry Spread is a news and information site built for the global trading industry. The site provides industry news focusing on technology, global regulation, company news and the latest people moves .

fca

Regulators Sign an Agreement With the Financial Conduct Authority

April 21, 2019

British Columbia Securities Commission - Financial Conduct AuthorityMontreal – The securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Québec and Saskatchewan (participating jurisdictions) today announced a co-operation agreement with the United Kingdom Financial Conduct Authority (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 innovative solutions that promote efficiency and consumer choices in the financial sector.

Louis Morisset, Chair of the CSA
Louis Morisset, Chair of the CSA

“This co-operation agreement with the FCA is in addition to agreements we have reached with other regulatory organizations,” said Louis Morisset, CSA Chair and President and CEO of Québec’s Autorité des marchés financiers. “Since FinTech businesses are not constrained by national borders, it is in our best interest to share views and exchange information in connection with their activities so we can evaluate market trends and adapt our regulatory framework appropriately.”

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. Co-operation 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 authority’s respective jurisdiction.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

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

Login To MyTis Comment Or Register to MyTIS

Leave a Reply

avatar
  Subscribe  
Notify of

Newsletter

Register now to receive the latest news and information for global trading industry.

Latest Articles

OTC stocks BOE Publishes Results of FOREX and OTC Interest Rate Derivatives Markets Survey

US 10-Year Bond Yield Hits Record Low on CDC Warning, Soft Data

Summary: The benchmark US 10-Year Treasury yield hit an all-time low of 1.32% (1.37% yesterday) after the Washington Post published that the CDC (US Centre for Disease Control) warned of …