Australia supports cross-jurisdiction fintech regulatory environment

Tuesday, April 12, 2016

Australia's fintech sector continues to grow with Australia's regulator ASIC promoting regulatory certainty.  

In March 2016 ASIC and the UK's FCA signed a world-first co-operation agreement between financial regulators to mutually assist innovating fintech companies, see ASIC's press release.

ASIC has now confirmed that it is seeking to replicate this agreement with a similar agreement with Singapore MAS, assisting fintech's with their sights on Asia, see story in smh.

The initiative of both ASIC and the FCA to have created innovation regulatory hubs should assist fintech's obtain regulatory clearance while promoting investor and consumer trust. More information on ASIC's fintech innovation hub can be found here.

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