Archive: June 9, 2016

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Regulatory sandbox and innovative regulation

Regulatory sandbox and innovative regulation

By Daniel Knight

Australian FinTechs are closer to getting a regulatory “sandbox” after the Australian Securities and Investments Commission (ASIC) released its detailed consultation paper this week.  The paper details proposals for a testing ground for innovative robo-advice providers and other similar services.  It also highlights ASIC’s views about some regulatory options already open to FinTechs under the current law, as we discussed in a previous post.

In a sign of ASIC’s engagement with this nascent sector, ASIC launched its proposals at a fintech startup founders event in Melbourne.  ASIC emphasised it is seeking industry feedback and is open to making changes.

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