London Daily

Focus on the big picture.
Saturday, May 31, 2025

Hong Kong’s SFC and Canada’s CSA Sign Fintech Cooperation Agreement

Hong Kong’s SFC and Canada’s CSA Sign Fintech Cooperation Agreement

Eight members of the Canadian Securities Administrators are part of the fintech cooperation framework.

The Securities and Futures Commission (SFC) from Hong Kong and the Canadian Securities Administrators (CSA) had agreed to establish a financial technology, or Fintech, cooperation framework. According to the press release, eight members of the CSA are the participants of the deal arranged by both financial watchdog entities.

The CSA members include the Ontario Securities Commission, Autorité des marchés financiers (Québec), British Columbia Securities Commission, Alberta Securities Commission, Financial and Consumer Affairs Authorities of Saskatchewan, Manitoba Securities Commission, Financial and Consumer Services Commission (New Brunswick), and Nova Scotia Securities Commission. Per the announcement, the partnership seeks to share information regarding their innovation functions, which means “the dedicated function established by an authority to support innovation in financial services in their respective markets.”

“This agreement reflects the SFC’s continuing focus on strengthening regulatory cooperation with its counterparts and facilitating innovation in financial services. We look forward to working closely with these members of the CSA in sharing experiences and information with a view to supporting innovative firms’ communications with regulators globally,” Ashley Alder, the SFC’s Chief Executive Officer, commented on the matter.

CSA Reaction on the Announcement


Moreover, Louis Morisset, CSA Chair and President and Chief Executive Officer of the Autorité des marchés financiers, pointed out that registered firms based in their respective jurisdictions will have the opportunity to operate in growing regulated markets. “We are particularly proud to partner with the SFC, which plays a central role in the development of a fair, efficient, and transparent Fintech industry,” he added.

In March 2016, Hong Kong’s SFC launched Fintech Contact Point, while the CSA deployed a regulatory sandbox in February 2017. Last month, the SFC revealed on its annual report 2020-21 that it approved 188 collective investment schemes and 146 unlisted structured investment products for public offering during the mentioned period. As a result, SFC’s total number of licenses and registrants jumped to 47,178. The total number of licensed corporations spiked to 3,159.

Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
Labour MPs Urge Chancellor to Tax Wealthy Over Cutting Welfare
Publication of UK Child Poverty Strategy Delayed Until Autumn
France Detains UK Fishing Vessel Amid Post-Brexit Tensions
Calls Grow to Resume Syrian Asylum Claims in UK
Nigel Farage Pledges to Reinstate Winter Fuel Payments
Boris and Carrie Johnson Welcome Daughter Poppy
×