The Ontario Securities Commission (OSC) has announced that innovative solutions put forward by seven businesses will be part of its new capital markets testing environment, OSC TestLab.
This initiative allows businesses to test solutions that can help Ontario registrants and contribute to better investor outcomes.
The following businesses will test solutions that include product comparison, client onboarding, portfolio analytics and assessment tools that leverage behavioural science, artificial intelligence and automation, among other approaches:
- Broadridge Investor Communications Corporation
- LockDocs Inc.
- Mako Fintech
- Morningstar Research Inc.
- Syntoniq, Inc.
- TMX Group
- Wealthscope
“We are pleased to see such a strong response to our first test, which harnesses the collaborative power of people, ideas and expertise,” said Pat Chaukos, Director of the Innovation Office. “OSC TestLab is a unique opportunity to effect change and support innovation in our capital markets.”
Participating firms will begin testing later this spring with testing expected to conclude in fall 2022. More details about the tests, including how to participate as a registrant or investor, is available at oscinnovation.ca/TestLab/spring2022
In November 2021, the OSC invited businesses to submit applications to test their innovative solutions to make product information more accessible, improve information sharing and enhance registrant-client interactions. From these applications, the OSC selected seven firms to participate in testing.
A first for Canada, OSC TestLab invites businesses to experiment with innovative solutions in Ontario’s capital markets as part of focused, group testing. Testing will provide opportunities for participants to learn through experimentation and gather feedback that can help to fine-tune and tailor solutions. At the same time, insights from testing can provide valuable input to inform the OSC’s efforts to modernize Ontario’s regulatory environment.
For more information on OSC TestLab or the Spring 2022 Test please visit the Innovation Office website at oscinnovation.ca/TestLabYou can also follow the Innovation Office on LinkedInand Twitter for updates on TestLab and other initiatives.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.ca.
Source: The Ontario Securities Commission
