ASIC

Mar
15

Treasurer Scott Morrison tells big regulators to prepare for new fintech rules

Australia’s top financial regulators have been told by Treasurer Scott Morrison to prepare for a new system to regulate financial technology start-ups that will allow entrepreneurs to spend more time building business ideas and less time navigating complex financial services regulations. The federal government is expected to release next week policy changes to support the […]

By Cameron Dart | FinTech
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Mar
09

Greg Medcraft urges innovation on blockchain technology

Australian Securities & Investments Commission chairman Greg Medcraft has called on market regulators around the world to “start thinking about” the challenges of blockchain, the tech­nology behind cyber-currency bitcoin. Mr Medcraft, who is also ­chairman of the International ­Organisation of Securities Commissioners, urged regulators to consider the potential challenges of blockchain at a recent meeting […]

By Cameron Dart | Bitcoin . FinTech
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Nov
16

The rise of robo advisers

The notion of robots delivering financial advice is one of the hottest topics in financial planning circles. Even Australian Securities and Investments Commission chairman Greg Medcraft has weighed in, saying “robo advice” could slash investment costs and eliminate conflicts of interest. Judging by the number of new offerings coming on the market, this will be […]

By Australian FinTech | FinTech . Robo-Advice
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Nov
16

ASIC calls for ‘two-tier’ regulation of fintech sector

ASIC chairman Greg Medcraft has advocated a two-tier regulatory system that encourages innovation via ‘light-touch’ oversight of fintech start-ups. Speaking at a Finsia ‘Regulators Panel’ event in Sydney, Mr Medcraft pointed out that innovative business models often do not “fit” into existing regulatory frameworks. “It’s really important we rethink the way we regulate [financial services […]

By Australian FinTech | FinTech
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Nov
06

ASIC’s Greg Medcraft says ‘robo advice’ can reduce fees and conflicts

Australian Securities and Investments Commission chairman Greg Medcraft says computer-generated financial advice, or “robo advice” could slash investment costs and eliminate conflicts of interest in the maligned financial planning industry. ASIC has established a “robo-advice taskforce”, which is investigating the suitability of potential entrants, who use computer algorithms to match investors with suitable assets at […]

By Australian FinTech | FinTech . Robo-Advice
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Apr
28

ASIC set sights on growing fintech sector

The Australian Securities and Investments Commission is setting up a Digital Finance Advisory Committee manned by members of the fintech community, as the corporate regulator ramps up its attention on the technology sector and cyber risk.ASIC chairman Greg Medcraft said the regulator wanted to make it easier for start-ups and fintech businesses to navigate the […]

By Australian FinTech | FinTech . Investing
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