Canadian and Taiwanese regulators join forces on fintech

By James Langton | June 11, 2020 | Last updated on June 11, 2020
2 min read
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Canadian securities regulators are extending the international reach of their regulatory sandbox by entering a fintech co-operation agreement with Taiwanese regulators.

Various provincial regulators have signed a memorandum of understanding with the Financial Supervisory Commission (FSC) of Taiwan that will enable regulators to speed the entry of fintechs into one another’s markets, while also defining the information-sharing and supervisory arrangements between the jurisdictions.

“Canadian and Taiwanese innovative businesses will now have access to new regulated markets with this agreement between the CSA and the FSC,” said Louis Morisset, chair of the CSA, and president and CEO of the Autorité des marchés financiers.

“Investors and the fintech industry will benefit from our regulatory environments, which combine flexibility with appropriate investor protection measures,” he said.

The big four CSA members (Alberta, British Columbia, Ontario and Quebec) are all signatories to the agreement, along with the regulators from Manitoba, New Brunswick, Nova Scotia and Saskatchewan.

Dr. Tien-Mu Huang, chairperson of Taiwan’s FSC, said, “This co-operation agreement between Canada and Taiwan aims to promote financial innovation, enhance supervisory cooperation, and facilitate market access for fintech businesses on both sides.”

“Canada is a well-established financial innovation hub,” Huang said. “Taiwan is equipped with abundant technological talents, strong innovation capabilities and mature financial industry. This bilateral agreement is designed to create a mechanism for financial technology cooperation between Canada and Taiwan.”

CSA members already participate in the effort to create a global fintech sandbox, the Global Financial Innovation Network, which was launched in 2019. They’ve also entered similar bilateral deals with several foreign regulators, including authorities in France, Singapore and Abu Dhabi.

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James Langton

James is a senior reporter for and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.