ASIC

Jun
09

ASIC to build fintech start-ups a ‘regulatory sandbox’ to test ideas

The corporate regulator will allow fintech start-ups to test their ideas with real customers for a period of six months without having to hold a financial services licence, under a new “regulatory sandbox” proposed by Treasurer Scott Morrison in the May budget. In a consultation paper released on Wednesday morning, the Australian Securities and Investments […]

By Reposted by Australian FinTech | FinTech
DETAIL
Jun
06

Global regulators attuned to blockchain risks

The use of blockchain in financial services would need to be carefully regulated with access restricted to only approved participants and institutions may be required to use kill switches to stop computers automatically executing in times of stress. Greg Medcraft, who has just relinquished the chair of the International Organisation of Securities Commissions (IOSCO), told […]

By Reposted by Australian FinTech | Banking . Bitcoin . Blockchain . FinTech
DETAIL
May
19

Sydney Stock Exchange’s blockchain system targets venture capital funds, commodities

Two-year-old Sydney Stock Exchange is building a blockchain settlement system to avoid high ASX fees and build a market for venture capital funds to exit their investments and commodities markets. The distributed ledger will initially only be used to settle trades in private companies, but once regulatory approval is gained, it will settle trades in […]

By Australian FinTech | ASX . Bitcoin . Blockchain . FinTech . Venture Capital
DETAIL
May
05

Budget 2016: fintechs; MoneyPlace, OzForex hail recognition

The Turnbull government’s maiden budget may have lacked the necessary fireworks for the local innovation sector but fintech start-ups are not complaining. Melbourne-based peer-to-peer lender MoneyPlace’s founder and CEO Stuart Stoyan is pleased to see the Australian fintech ecosystem singled out in a budget that didn’t dole out many handouts to start-ups. “It’s an election […]

DETAIL
May
04

Budget 2016: Innovation surprises in budget papers

Entrepreneurs developing fintech companies will get a leg up from a new program in association with the Australian Securities and Investments Commission, which will allow ideas to be tested with a limited number of retail clients for up to six months. These road tests in a “regulatory sandbox” will have prescribed investment limits. Australia will […]

By Cameron Dart | Bitcoin . Blockchain . FinTech . Investing
DETAIL
May
02

Blockchain technology to impact financial services sector

Blockchain technology has the potential to improve client’s end-to-end experience but the legal profession must consider its regulation, according to Norton Rose Fulbright lawyers. Nick Abrahams, APAC head of technology and innovation, told those gathered at Norton Rose Fulbright’s Unlocking the Blockchain event last week that “Blockchain will radically impact the financial services sector”. Mr […]

By Cameron Dart | ASX . Banking . Blockchain . FinTech
DETAIL
Apr
19

Data sharing struggles between banks and fintechs

Fintech companies want your Internet banking logins. Banks don’t want you to give it to them. Find out why the answer isn’t as simple as security. The issue of data crops up time and time again in the fintech market. Whether it’s the banks not sharing their data, fintech companies not providing enough protection of […]

By Cameron Dart | Banking . FinTech
DETAIL
Apr
11

ASIC talking to Singapore on fintech deal

The Australian Securities and Investments Commission is talking to the Monetary Authority of Singapore about an agreement to ensure that regulation does not hinder the progress of fintech start-ups looking to operate across the countries’ borders. Fintech regulation has been a key agenda item at recent meetings of peak financial regulators across the globe and […]

By Cameron Dart | FinTech
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