OSC Approves Canada’s First Peer Lending Platform

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Sep 28, 2016

On September 28, 2016, the Ontario Securities Commission (OSC) granted Vault Circle Inc. regulatory approval to participate in marketplace lending, which may signal a shift in the treatment of peer lending platforms throughout Canada.

In July 2016, the OSC published OSC Staff Notice 33-747 Annual Summary Report for Dealers, Advisers and Investment Fund Managers.  The report describes initiatives undertaken by the OSC’s Compliance and Registrant Regulation Branch in the 2015-2016 fiscal year, including registration and compliance activities, policy initiatives and new programs.

In recognition of increased interest in crowdfunding portals and peer-to-peer lending platforms, this year’s report specifically addresses the OSC’s expectations in these areas.

Review a summary and the Staff Notice.

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