Ontario Securities Commission (OSC)
Toronto, Ontario, CanadaThe OSC regulates the securities industry in Ontario, Canada, including companies who issue securities, registered firms who trade in securities, and other market participants such as stock exchanges and clearing agencies.
OSC LaunchPad engages with fintech businesses, assists them in navigating the requirements and strives to keep regulation in step with digital innovation. In short, we help fintechs avoid costly regulatory surprises and accelerate time-to-market, all while fulfilling our mandate to provide protections to investors and promote confidence in our markets.
We also work with other securities regulators across Canada to facilitate harmonized pan-Canadian regulations and authorizations, where feasible.
Geographical Jurisdiction
Ontario, Canada- Reporting issuers (i.e. publicly listed companies).
- Firms and individuals:
o distributing securities, commodities futures products or derivatives,
o offering investment advice, or
o managing an investment fund
- Investment funds that are reporting issuers (e.g. conventional mutual funds, exchange-traded funds, alternative funds, non-redeemable investment funds, and scholarship plans, among others).
- Marketplaces (e.g. exchanges and alternative trading systems) that trade in products such as equities, debt, futures and listed and over-the-counter (OTC) derivatives, or engage in securities lending operations.
- Clearing agencies that provide clearing and settlement services for equities, debt and listed and OTC derivatives.
✓ Guidance on the application of laws and rules to innovative business models
✓ Support with authorisation to operate in our jurisdiction
✓ Live Sandbox testing environment
✓ Waivers or exemptions, for any entity meeting certain criteria
✓ Engagement with firms on regtech and suptech solutions
✓ Engagement with innovators and/or other third parties (e.g. academics, consultants and other organisations)
Focus Area
- Applicant has a new innovation or significantly different product, service or application from those currently available in the financial services sector.
- Applicant’s innovation or significantly different product, service or application will provide identifiable benefits to consumers, other businesses and/or regulators in the financial services industry/sector
- Applicant’s innovation or significantly different product, service or application is established, operational and has been tested.
- Applicant has discussed the innovation or significantly different product, service or application with its principal regulatory/supervisory authority.
- Applicant understands the risks that its innovative product, service or application entails and confirm that it has put in the necessary steps in place to mitigate these risks, including investor/consumer protection risks, if applicable.
- Applicant will be responsive in addressing questions and concerns from GFIN members and invest the necessary time and resources to participate in the cross-border testing.
- Applicant understands that, in addition to the GFIN application form, the applicant may be required to complete the applicable OSC application forms to obtain the necessary approvals or discretionary relief.
- Applicant is not in default of Ontario securities legislation
