The Ontario Securities Commission (OSC) announced that innovative solutions put forward by seven businesses will be part of its new capital markets testing environment, OSC TestLab. This initiative allows businesses to test solutions that can help Ontario registrants and contribute to better investor outcomes.
The following businesses will test solutions that include product comparison, client onboarding, portfolio analytics and assessment tools that leverage behavioral science, artificial intelligence and automation, among other approaches: Broadridge Investor Communications Corporation; LockDocs; Mako Fintech; Morningstar Research; Syntoniq; TMX Group; and Wealthscope.
“We are pleased to see such a strong response to our first test, which harnesses the collaborative power of people, ideas and expertise,” said Pat Chaukos, director of the Innovation Office, in a statement. “OSC TestLab is a unique opportunity to effect change and support innovation in our capital markets.”
In November 2021, the OSC invited businesses to submit applications to test their innovative solutions to make product information more accessible, improve information sharing and enhance registrant-client interactions. The selected firms will begin testing later this spring with testing expected to conclude in fall 2022.