Quebec's AMF launches Global Financial Innovation Network

Infrastructure
04.02.2019 05:25 am

The Autorité des marchés financiers (the AMF) is pleased to announce the official launch of the Global Financial Innovation Network (GFIN), an international network of financial regulators committed to supporting financial innovation that benefits consumers.

The GFIN currently consists of 29 organizations, including the AMF, and expects to welcome new members in the coming months.

As its first initiative, the GFIN today launched a pilot project for financial technology (fintech) firms and participating regulators. Fintech firms will benefit from the opportunity to test their products or services in international markets over a six-month period, and GFIN members will use the insights gained from the tests to coordinate their work in a way that better supports financial innovation in an international context.

To be eligible for the first cohort, interested firms must submit an application to each jurisdiction in which they would like to test before the February 28, 2019 deadline .