Quebec’s financial regulator, the Autorité des Marchés Financiers, has created an internal think tank to explore applications of new technologies among the entities it regulates, including exchanges and clearinghouses, as well as potential applications to its own regulatory activities.
The AMF also said it intends to form partnerships with key players in the financial sector and academia, and announced the signing of a partnership agreement with R3, an innovation firm focused on building platforms and applications for the financial sector. R3 has established a consortium of financial institutions for developing and applying blockchain technology in the financial services industry.
The think tank, which the AMF is calling its “Fintech Lab,” will also serve as a talent incubator, drawing on university students in engineering and technology as interns under the supervision of members of AMF’s fintech working group.
The AMF said the lab will focus on four objectives: deepen and update the AMF’s knowledge of new technologies; explore how the AMF itself can better use new technologies to improve its business processes; provide advice and insight with respect to a review of the regulatory framework and to the regulatory sandbox initiatives implemented by the Canadian Securities Administrators; and anticipate the AMF’s needs regarding the latest expertise and computer systems.
