The Ontario Securities Commission (OSC) announced Jan. 31 that it is inviting eligible innovative Ontario businesses to apply to participate in a pilot project to test financial products, services and business models across international borders.
The project is an initiative of the Global Financial Innovation Network (GFIN), which is made up of 29 organizations, including the OSC.
Ongoing commitment to support novel firms
"Participating in this initiative reflects our ongoing commitment to support novel firms seeking to operate globally, and makes Ontario an attractive choice for foreign businesses looking to enter new markets," said Maureen Jensen, Chair and CEO of the OSC.
The pilot project will allow firms to simultaneously trial and scale their products or services in multiple jurisdictions, and gain real-time insights into how they might operate in these markets. Ontario firms interested in taking part in the pilot should review the list of participating regulators, and submit an application to the jurisdictions in which they would like to test by February 28, 2019.