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The Australian government is preparing to make a number of reforms that accommodate FinTech initiatives to help stimulate innovations for its already sophisticated financial sectors that are underpinned by robust regulatory system. This is according to a nearly 35 page report titled ‘Backing Australian FinTech’ that accompanied a statement from one of its MPs this morning.
The announcement paralleled ASIC’s press release today with proposals and guidelines for robo-advisors, and as both the regulator and government aim to stay up to speed on the fast pace of changes to banking technology and financial markets products.
Through close collaboration, the government’s ... (read more)