Regulatory Updates Articles

Toronto-based Ethoca to be acquired by Mastercard Mastercard has announced it will be acquiring Toronto-based fintech company Ethoca. Ethoca is a global provider of technology solutions which aids merchants and card issuers in identifying and dealing with fraud in digital commerce. Ethoca provides technology which identifies when a fraudulent transaction has occurred. When detected, information is sent to merchants... READ MORE
Canadian Securities Regulators Announce Platform to Identify Market Abuse The Canadian Securities Administrators (“CSA”) announced it has selected a market analytics platform designed to identify, assess, and assist potential market abuse cases. Kx, a division of First Derivatives plc, was platform chosen as a result of a public bidding process. Kx is a division of First Derivatives plc, a... READ MORE
In these heady days of cryptocurrency investment, the market can seem like a gold rush: offering promise, but at the expense of predictability. The taxation of cryptocurrencies is no different. In this article, a collaboration between the Fintech Team at EKB and Alexander Demner at Thorsteinssons LLP, we consider the tax implications for cryptocurrency investment in Canada. “In this... READ MORE
Canadian Securities Administrators Provide Additional Guidance on Securities Law Implications for Offerings of Tokens June 11, 2018: The Canadian Securities Administrators (“CSA”) published CSA Staff Notice 46-308 Securities Law Implications for Offerings of Tokens, which provides additional guidance on the applicability of securities laws to offerings of coins or tokens, including those that industry stakeholders commonly refer to as “utility... READ MORE
Revolutionary changes to complex systems often have humble beginnings. Double-entry-bookkeeping, for instance, grew from a minor section of a Franciscan monk’s mathematics encyclopedia in 15th-century Venice to the foundation of modern accounting. Now, blockchain, a system which allows connected computers to maintain a single updated ledger, seems poised to restructure stock exchanges, the core infrastructure of capital markets. Blockchain,... READ MORE
Applications of Existing Legislation/Securities Law to ICOs While some jurisdictions have taken a hostile approach to ICOs, such as the bans by Korea and China, discussed in Part 1 of our 2 part series on international regulation of ICOs, a more measured approach is more common. Many jurisdictions have taken the stance that ICOs can and should be regulated... READ MORE
Background, Bans, and ICO Outliers Over the past few weeks there have been a number of interesting developments in the regulation of Initial Coin Offerings (ICOs, sometimes referred to as Initial Token Offerings or ITOs), so we decided to take this opportunity to summarize the state of ICO regulation worldwide. (For an overview of ICOs, see our recent blog... READ MORE
The “Regtech” sector is transforming regulatory compliance and risk management by using new technology to automate and streamline previously costly processes. The current regulatory environment in many Canadian industries features increasingly complex regimes that produce substantial compliance costs for industry participants. In many larger organizations, this has necessitated entire departments dedicated to ensuring compliance. Regulation also creates substantial barriers... READ MORE
At the intersection of the financial services and technology sectors is an industry that has garnered much attention of late. With the rise of the ubiquitous smartphone and our “always online” culture, consumer behaviour has evolved to require financial services to be delivered through new technologies offering a seamless user experience at a cheaper cost than their traditional equivalents.... READ MORE
Entities that are designated as reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, such as money services businesses and designated financial institutions have certain obligations to fulfill under the Act and corresponding Regulations. One of these obligations is to verify the identity of their clients, also known as “KYC” requirements. The Regulations specify when... READ MORE
It might not sound sexy but it’s exciting nonetheless….Recent amendments to the British Columbia Disclosure of the Cost of Consumer Credit Regulation have opened the doors to real time digital consumer loan products. The Business Practices and Consumer Protection Act and the Regulation require credit grantors who extend credit in the ordinary course of carrying on their businesses to... READ MORE

About the Authors

KELLY SAMUELS
Kelly Samuels, partner, brings a knowledge of business law to the rapidly growing fintech sector.
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FRASER HARTLEY EKB Fintech Author

FRASER HARTLEY
Fraser Hartley, partner, is focused on financing + technology, and helping the businesses that bring the two together.
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riley lelonde ekb fintech author

RILEY LALONDE
Riley Lalonde, associate, assists clients with a variety of business law matters while keeping an eye on developments in the fintech sector.
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