VANCOUVER, Nov. 16, 2017 /CNW/ - The British Columbia Securities Commission (BCSC) today announced its sponsorship of the first ever Regtech Hackathon held in British Columbia. The one-day Hackathon will challenge participants to create innovative solutions to help industry meet its regulatory requirements more efficiently and effectively, and improve regulatory quality and competitiveness.

"The BCSC is a strong supporter of industry-led innovations and solutions," said Mark Wang, Director, Capital Markets Regulation, BCSC. "We are excited to be a part of this event, because we believe it has the potential to generate some truly novel and exciting ideas to help advance regulatory technologies."

The Regtech Hackathon is part of the National Crowdfunding Association of Canada's (NCFA) VanFUNDING 2017 Conference on Tuesday, November 28. Teams of three to six people will select a problem statement to solve and work throughout the day on their pitch with help from experienced mentors, including some BCSC staff members.

The full problem statements are available on the VanFUNDING Conference's website, and address the following five areas of focus:

• Blockchain, Crowdfunding, and Smart Contracts
• Capital Markets Innovation
• Know Your Client (KYC)
• Investor Protection and Investment Literacy
• Registration and Compliance (Tracking)

"We are thankful to the BCSC and other industry partners for their support," said Craig Asano, NCFA Founder and CEO. "This collaborative approach is the basis for developing creative and innovative regtech solutions. We encourage entrepreneurs and regulatory experts, innovators, data analysts, designers, and developers to join us in helping discover and launch some amazing B.C. regtech-focused projects."

The winning team will have an opportunity to present their pitch to the VanFUNDING Conference, as well as a chance to win prizes valued at over $20,000. Submissions will be judged on innovation, user experience, pitch, and viability.

The Regtech Hackathon will take place at the Morris J. Wosk Centre for Dialogue located at 580 West Hastings Street, Vancouver, B.C. More information on the Hackathon, including how to register, can be found on the VanFUNDING Conference website.

About the British Columbia Securities Commission (www.bcsc.bc.ca)

The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:

• A securities market that is fair and warrants public confidence
• A dynamic and competitive securities industry that provides investment opportunities and access to capital

Learn how to protect yourself and become a more informed investor at www.investright.org

SOURCE British Columbia Securities Commission

For further information: Media Contact: Alison Walker, 604-899-6713; Public inquiries: 604-899-6854 or 1-800-373-6393 (toll free), inquiries@bcsc.bc.ca

Related Links

http://www.bcsc.bc.ca

The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada.  For more information, please visit:  ncfacanada.org