ASIC

Apr
10

Founded by the crowd: the new way to invest in Australian businesses

Equity crowdfunding is a relatively new way for Australians to invest. It’s a smart way to collect donations for a charity cause or raise capital for new products and with recent changes to Australian investment laws, crowdfunding platforms can now be used to raise equity capital for a business startup. This change opens a new […]

By Reposted by Australian FinTech | FinTech . Investing
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Apr
03

Bureaucracy fumbles Australia’s innovation vision

Australian corporate regulator ASIC’s commissioner, John Price, has called out “innovation” as a concept about which it is easy to wax lyrical, but “difficult to apply in practice”. Mr Price made the comments at the recent Senate Economics Legislation Committee meeting into the regulatory sandbox for fintechs when asked: “Is an innovation benchmark appropriate?” With […]

By Reposted by Australian FinTech | FinTech
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Mar
20

Xinja launches card and app, gets set to challenge Australia’s banking market

Xinja, which is building the first Australian, independent, 100% digital ‘neobank’, has launched its prepaid travel and everyday spending card and its app. The card is a prepaid, tap-and-go card, with no ATM fees here or overseas, and low international transaction/FX fees that make it a very competitive travel card. The app allows users to […]

By Australian FinTech | Banking . FinTech . Investing . Payments
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Jan
30

Best interests duty extends to cryptocurrencies

Financial advisers’ will need to be well versed in cryptocurrencies such as bitcoin and ethereum despite them not being considered financial products, a compliance consultant has warned. Speaking to ifa, Assured Support principal Sean Graham said the increasing popularity of cryptocurrencies poses a number of challenges for financial advisers. “The problem is that it’s mums […]

By Reposted by Australian FinTech | Bitcoin . FinTech . Investing
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Jan
25

The everyday Aussie is increasingly choosing a peer to peer personal loan

ASIC’s second marketplace lending survey revealed that $300 million worth of personal and business loans were written by peer to peer lenders during the last financial year – almost double the amount commissioned during the 2015/2016 financial year. Speaking about the data, ASIC Commissioner John Price said that the survey results indicated the continuing growth […]

By Reposted by Australian FinTech | Borrowing . FinTech . Investing . Lending . Peer-to-Peer
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Nov
27

Dubai and Australia sign fintech agreement

The Dubai Financial Services Authority (DFSA) and the Australian Securities and Investments Commission (ASIC) entered into an agreement that sets out a framework for cooperation on financial technology (FinTech) innovation. The agreement demonstrates a commitment by both Authorities to provide a regulatory framework that promotes innovation in financial services and regulatory compliance in their respective […]

By Reposted by Australian FinTech | FinTech
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Nov
08

Australia, China to co-operate on fintech

Regulatory body ASIC has entered into an agreement with the China Securities Regulatory Commission to “promote innovation” and share information on market trends and regulatory development in the financial services sector. According to a statement from ASIC, the agreement will provide a “framework for information sharing between the two regulators” and will allow them to […]

By Reposted by Australian FinTech | FinTech
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Oct
25

ASIC licensing crackdowns see uptick in robo-advice demand

While one automated advice provider says the demand for automated advice has been relatively steady since the removal of the accountant’s exemption, there have been some small spikes in demand following various compliance crackdowns by ASIC. Speaking to SMSF Adviser, Plenty Plus founder Greg Einfeld said while there has been continued interest in automated advice […]

By Reposted by Australian FinTech | FinTech . Investing . Robo-Advice
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