International: CSA and FSC Mauritius sign FinTech cooperation agreement
The Canadian Securities Administrators ('CSA') announced, on 23 June 2021, that they had signed a FinTech cooperation agreement with the Financial Services Commission, Mauritius ('FSC Mauritius'). In particular, the CSA noted that the agreement extends the work of the CSA Regulatory Sandbox Initiative and the efforts made by FSC Mauritius with innovative financial players. In addition, the CSA highlighted that the agreement includes a referral mechanism for innovative businesses, and enhances and clearly defines information-sharing between these jurisdictions. Moreover, the CSA Chair and President and CEO of the Autorité des marches financiers, Louis Morisset outlined that "This agreement with FSC Mauritius will provide a solid framework for co-operation and referrals between our jurisdictions... [a]s the fintech industry evolves rapidly, we must ensure that we put in place a regulatory framework that gives businesses the flexibility to grow while maintaining investor protection."
You can read the press release here.