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Australian, Canadian regulators sign fintech pact

The Australian Securities and Investments Commission signed a cooperation agreement with several securities regulatory authorities in Canadian provinces and territories to cooperate on financial technology development.

ASIC signed the agreement with regulators in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Québec and Saskatchewan, the Canadian Securities Administrators said in a Dec. 12 release.

The pact will allow the watchdogs to exchange information on fintech trends and development and refer innovative enterprises seeking to enter each other's markets.