snIP/ITs Insights on Canadian Technology and Intellectual Property Law

Monthly Archives: August 2017

Government of Ontario Issues Financial Services Report Following Red Tape Challenge: Implications for Fintechs

Posted in Fintech

On August 9, 2017, the Government of Ontario released its report on financial services following the Red Tape Challenge.  This report contains a number of recommendations and action items relating to Fintech:

  • New flexible, innovative provincial financial services regulator – As previously announced, the Government of Ontario is proceeding with its plans to establish a new financial services regulator, the Financial Services Regulatory Authority of Ontario (“FSRA”), which is intended to be a “new, flexible and innovative financial services and pension regulator”, and which will replace existing provincial financial services regulators, including the Financial Services Commission of Ontario
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Public Consultation on Reform of the Copyright Board of Canada Launched

Posted in Copyright, Intellectual Property

From August 9, 2017 to September 29, 2017, Innovation, Science and Economic Development Canada is holding a public consultation on proposed reforms to the Copyright Board of Canada.

Among its other regulatory functions, the Copyright Board of Canada establishes the amount of tariffs to be paid for copyrighted content in a variety of areas where a copyright collective is tasked with administering those rights. These areas include music streaming, the public performance of music, educational copying, and the retransmission of television signals.

The consultation comes after a lengthy history of stakeholder complaints concerning the decision-making processes of the Board, including … Continue Reading

Bank of Canada Releases Fintech Discussion Paper

Posted in Fintech

In July 2017, the Bank of Canada released a discussion paper outlining a framework for the assessment of risks and opportunities for central banks in connection with Fintech. This paper also more generally explores potential implications of Fintech for central banks, given their mandate over monetary policy, the design and distribution of currency and/or financial stability. … Continue Reading

De-Risking in Financial Services: Perspectives and Implications

Posted in Financial, Fintech

The context of de-risking

In the past decade, the financial services sector across the globe has experienced increased regulatory scrutiny, particularly in the areas of financial crimes, anti-money laundering (AML) and anti-terrorist financing (ATF) regulation.

Financial institutions have generally reacted to the new regulatory environment by bolstering their compliance and risk management divisions with increased budgets and headcounts.[i]  However, as the price and regulatory risk of banking increases, some financial institutions are assessing the cost-benefit analysis of certain activities and are opting, simply, to exit entire product lines or customer segments. This phenomenon is one aspect of what is … Continue Reading