ASIC

Feb
28

Labor to boost ASIC’s fintech capability in Perth

Labor will provide fintechs based in Perth with more regulatory support, pledging an increase in funding for the corporate regulator so it can extend its “innovation hub” to the city and help start-ups connect with the Asian region. Shadow minister for the digital economy Ed Husic and Clare O’Neil, shadow minister for financial services, will […]

By Reposted by Australian FinTech | FinTech
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Feb
20

BGL announces new support platform for CAS 360 and Simple Fund 360

BGL Corporate Solutions, Australia’s leading supplier of SMSF administration and ASIC corporate compliance solutions, is proud to announce the release of our new client support platform using Zendesk for CAS 360 and Simple Fund 360. “We have spent the past few months integrating CAS 360 and Simple Fund 360 with Zendesk to create a seamless […]

By Australian FinTech | FinTech
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Oct
19

Afterpay’s shares recover as the fintech backs greater regulation of buy-now-pay-later consumer lending

Payments fintech Afterpay, whose shares were hit hard after a Senate inquiry was formed to investigate consumer lenders not covered by the financial services royal commission, says it supports “appropriate regulation” and oversight by corporate regulator ASIC. The company says its buy-now-pay-later model is different to traditional credit, a fact recognised by the New Zealand […]

By Reposted by Australian FinTech | Borrowing . FinTech . Lending
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Oct
18

ASIC tightening regulation on ICOs is a positive move for the industry

ASIC recently announced that it has shut down several Initial Coin Offerings (ICOs) for misleading or deceptive statements in their marketing and operation of unlicensed managed investment schemes. This once again casts the spotlight on the unregulated nature of the Cryptocurrency industry and the need for investor protection. Cryptocurrencies and, by association with the larger category of […]

By Reposted by Australian FinTech | Currency . FinTech . Investing
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Oct
15

Afterpay, Zip await ASIC critique of buy now pay later

An in-depth investigation into the often controversial buy now pay later industry by the corporate regulator that will assess whether new laws are needed to protect consumers will be made public in December, as new criticism is levelled at the model of local giant Afterpay Touch Group. Sources told AFR Weekend the Australian Securities and […]

By Reposted by Australian FinTech | Borrowing . FinTech . Lending . Payments
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Oct
05

Luxembourg and Australia agree fintech pact

The Luxembourg Commission de Surveillance du Secteur Financier (‘CSSF’) and The Australian Securities and Investments Commission (‘ASIC’) today signed a Cooperation Agreement which provides a framework for cooperation to understand financial innovation in each jurisdiction. The Agreement provides a framework for information sharing between the two regulators on financial technology (fintech) and regulatory technology (regtech). […]

By Reposted by Australian FinTech | FinTech
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Sep
21

How is fintech regulated and have we got it right?

One of the big questions yet to be answered when it comes to fintech is: how do we effectively regulate the industry? Normally, banks, credit unions or any other company that lends money comes under Responsible Lending regulations, and any institution that accept deposits need to be on the government’s list of Authorised Deposit-taking Institutions […]

By Reposted by Australian FinTech | FinTech
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Sep
19

ASIC warns all fintech business lenders over contracts

The corporate regulator wants all online business lenders to remove unfair terms from their contracts just like Prospa has done, indicating start-ups that want to compete against banks will be held to similar regulatory standards as community expectations lift following the royal commission. In a letter sent last week to Brad Kitschke, CEO of industry […]

By Reposted by Australian FinTech | Borrowing . FinTech . Lending
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