ASIC

Jul
11

Row emerges over digital advice regulations

A row is developing in the financial planning sector with so-called robo-advisers claiming that regulatory measures proposed by the Financial Planning Association would make the provision of digital advice unworkable. In a submission to the Australian Securities and Investments Commission, which is in the midst of consulting industry on how digital advice should be regulated, […]

By Reposted by Australian FinTech | FinTech . Robo-Advice
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Jun
21

Fintech startup Clover becomes the first robo-advice platform in Australia to secure MDA licence

Clover, a fintech company reinventing investing for the digital generation, has become the first robo-advice platform in Australia to secure an Australian Financial Services licence (AFSL) with Managed Discretionary Account (MDA) capability. Set to launch shortly, Melbourne-based Clover is a uniquely goals-based automated investment service designed to help Australians achieve specific lifestyle goals, whether it’s […]

By Australian FinTech | FinTech . Investing . Robo-Advice
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Jun
20

ASIC enters fintech partnership with Singapore

ASIC has signed an Innovation Functions Co-operation Agreement with the Monetary Authority of Singapore (MAS) aimed at “helping innovative businesses in Singapore and Australia in their foray to the respective markets”. The agreement will enable fintech businesses in Australia and Singapore to “establish initial discussions in each other’s market faster and receive advice on required […]

By Reposted by Australian FinTech | Blockchain . FinTech
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Jun
16

Say no to IPO lockout for retail investors – OnMarket BookBuilds

Have you seen the recent articles in the media responding to proposed ASX listing rules changes reducing the requirement to just 100 shareholders for large IPOs? Currently, ASX rules require each IPO to have 300-400 shareholders. OnMarket BookBuilds believe that this is a major reason that retail investors get some (but in our view, not […]

By Australian FinTech | ASX . FinTech . Investing
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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
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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
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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
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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 […]

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