ASIC and fintech

If you’re an eligible fintech startup and need an Australian financial services licence, an Australian credit licence, or help with an existing licence, the Innovation Hub can help you by providing:

  • Twelve months of informal guidance on licensing and regulation
  • Use of the regulatory sandbox (a 12-month licensing exemption).

Fintech licensing and regulation

The Innovation Hub can offer you 12 months of informal guidance on licensing and regulation, and potential exemptions.

If your application is successful, you’ll be assigned a designated ASIC contact person who can help prepare your licensing applications and provide ongoing support that integrates with your business model. They can also help determine whether there are waivers and relief applicable to your startup or scaleup.

How your input helps ASIC

ASIC seeks to collaborate with innovative startups and scaleups across marketplace lending, crowd-funding, robo-advice, payments and blockchain. Your input will help ASIC understand the challenges that startups face with legal compliance, which may become impractical as the global tech industry continues to leap forward.

ASIC is committed to helping fintech companies navigate the regulatory system and will streamline the licensing process where possible to enable fintech innovation. But we are equally committed to maintaining the principles of that regulatory system by providing strong and fair protections for Australian consumers and investors.

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News

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Government's enhanced regulatory sandbox to commence 1 September 2020

1 July 20202

The Government’s Enhanced Regulatory Sandbox will be available from 1 September 2020. It will supersede the current ASIC Sandbox and offer eligible fintechs a wider suite of services and products for testing for a maximum duration of 24 months.

Find out more

Senate Select Committee on Financial Technology and Regulatory Technology

17 April 2020

The Senate Select Committee on Fintech and Regtech recently opened a second round of submissions requesting input on critical needs from industry in response to the COVID-19 pandemic. Follow the links below to read both of ASIC submissions to the Select Committee.

ASIC's first submission - 20 December 2019

ASIC's second submission - 17 April 2020

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Archive

Events

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Remote services and supervision webinar

14 July 2020

ASIC will host a webinar discussion forum between financial firms, professional service providers, regulators and guests highlighting regtech’s potential to support the provision and supervision of financial services whilst many staff work remotely.

Registrations to attend the webinar are now open.

Event details

Responsible lending demonstration webinar

20 August 2020

ASIC has released a synthetic dataset of consumer loan files for regtech providers to demonstrate how AI and machine learning could be used to support firms’ compliance with responsible lending obligations.

Registrations for the webinar, and to download the dataset, are now open.

Find out more


Archive

Last updated: 01/05/2019 04:51