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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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