BC Securities Commission seeking input on modernizing securities laws

stocks

The BC Securities Commission (BCSC) released a notice summarizing the results of the BCSC’s FinTech outreach activities in 2017, and is currently seeking input on potential measures to BC securities laws.

The notice summarizes the BCSC’s consultation activities in five FinTech areas: crowdfunding and online lending, online advisers, cryptocurrency funds, initial coin offerings and cryptocurrencies, and FinTech regulation in the future. The notice includes specific questions with the goal of creating more discussion.

“Stakeholders have requested additional guidance on the factors we consider in determining whether an ICO is an offering of securities,” the notice reads on the topic of ICOs.

The notice also summarizes the BCSC’s 2017 FinTech activities, including holding online tech survey of industry stakeholders, the launch ofits Tech Team, and participation in the Canadian Securities Administrators’ Regulatory Sandbox.

“We want members of the BC 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.”

Comments should be submitted by April 3, 2018. Information on how to submit comments are on the official notice.

Photo via Unsplash