Ontario’s new provincial financial regulator, the Financial Services Regulatory Authority of Ontario (FSRA), is the latest member of the global regulators’ sandbox launched earlier this year.
The FSRA announced that it has joined the Global Financial Innovations Network (GFIN), which now includes more than 50 global regulators, central banks and other organizations.
The GFIN aims to enable cooperation among global regulators, with the goal of supporting innovation in the financial sector and industry regulation.
Canada’s big four securities regulators — the Alberta Securities Commission, Autorité des marchés financiers, British Columbia Securities Commission and Ontario Securities Commission — already belong to the GFIN.
“In participating in the GFIN, FSRA is positioned to provide our unique voice and perspective, representing the needs and interests of the organizations we regulate and their customers,” the FSRA said.