, that is before the legislature calls for setting up what is known as a regulatory “sandbox.”
Companies would be allowed to temporarily break or ignore select financial rules and regulations under close government supervision to test new programs. Companies would also be able to get access to Albertans’ private information, but only within strict parameters and only with that person’s permission.Toews says the “sandbox” is being used in the United States, Australia and the United Kingdom to help create tech jobs and to keep those regions on the cutting edge of financial technology.
“In turn, it will further help diversify our economy and add to our growing reputation as a hub for world-class financial services.”
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