For Immediate Release
November 2, 2017


Regulators sign an agreement with the Abu Dhabi Global Market
Financial Services Regulatory Authority

Montreal – The securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Québec and Saskatchewan (participating jurisdictions) today announced a co-operation agreement with the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). The agreement will allow the participating jurisdictions and the FSRA to refer to one another innovative businesses seeking to enter the others’ markets.

The agreement is an extension of the work of the CSA Regulatory Sandbox Initiative, which was launched in February 2017, and the ADGM Regulatory Laboratory, which has been in operation since November 2016. These innovation functions provide a controlled environment for businesses to develop and test innovative solutions that promote efficiency and consumer choices in the financial sector.

“This agreement with the FSRA is a positive step for the CSA, which has already taken steps with the Sandbox to help innovative businesses seeking to operate across Canada,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “The co-operation agreement further builds on the Sandbox by helping innovative businesses seeking to expand globally.”

The co-operation agreement is subject to the domestic laws of each authority and does not modify or supersede any applicable laws in force in, or applicable to, any such authority’s respective jurisdiction.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

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For more information:

Kristen Rose  
Ontario Securities Commission

Hilary McMeekin
Alberta Securities Commission

Alison Walker
British Columbia Securities Commission

Sylvain Théberge  
Autorité des marchés financiers

Jason (Jay) Booth
Manitoba Securities Commission

Erin King
Financial and Consumer Services
Commission, New Brunswick

David C. Harrison       
Nova Scotia Securities Commission

Shannon McMillan
Financial and Consumer Affairs
Authority of Saskatchewan