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B.C. Securities Commission conducting consultation on fintech

Wednesday, March 07, 2018 @ 9:42 AM | By Ian Burns

The British Columbia Securities Commission (BCSC) is seeking input on measures to potentially clarify or modernize B.C. securities law for stakeholders in light of the changing environment surrounding financial technology, or fintech.

“We want members of the B.C. technology community to know that we value the input they've provided to date, and we're eager to work with them on new ways to support innovation in this sector,” said Mark Wang, director of capital markets regulation at the BCSC. “This notice asks targeted questions to help us understand industry developments and how potential future action could impact the industry and investors.”

The BCSC announced the consultation Feb. 14. It is seeking input in a number of areas, including crowdfunding and online lending, online cryptocurrency funds and initial coin offerings.

“British Columbia has a strong spirit of entrepreneurship and innovation. We see that through the number of startup companies in B.C. and through the amount of capital they raise,” said Wang. “The BCSC supports effective regulation that helps companies continue to grow and innovate and gives investors confidence in our markets.”

The consultation period ends April 3.