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Canadian regulators sign fintech co-operation deal with FSC

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The Financial Services Commission of Mauritius (FSC) has signed a fintech co-operation agreement with members of the Canadian Securities Administrators (CSA) – they are the securities regulatory authorities in British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Québec and Saskatchewan.

The agreement reportedly includes a referral mechanism for innovative businesses, and enhances and clearly defines information-sharing between these jurisdictions, Yahoo! Finance reported.

“This agreement with FSC Mauritius will provide a solid framework for co-operation and referrals between our jurisdictions,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marches financiers. “As the fintech industry evolves rapidly, we must ensure that we put in place a regulatory framework that gives businesses the flexibility to grow while maintaining investor protection.”

“The FSC Mauritius is proud to partner with the CSA through this Fintech cooperation agreement and to work together to support current and future innovation in our respective financial jurisdictions,” FSC’s CEO Dhanesswurnath Thakoor was quoted as saying. “We have signed bilateral MOUs on Fintech with regulatory counterparts in several key jurisdictions including France and also joined the Global Financial Innovation Network (GFIN). These MOUs, together with this latest cooperation agreement with the CSA, will ease the ability of Fintech entrepreneurs and innovators to receive regulatory guidance and thrive in terms of cross-border innovation from Mauritius to other continents.”

Read full story on Yahoo!Finance

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