ASIC Jumps Into Action with Fintech Regulation

[kreslik.news]

Starting last week and continuing this week, Australia is seeing a light into the new economy, now that the “resources boom is over” (have we heard this enough already?).

The Treasurer, Scott Morrison, has announced a new “regulatory sandpit” for fintech startups to play in.

On Monday, ASIC bounced back to life, issuing in quick succession long overdue guidance on the hot topics of robo-advice and peer-to-peer lending. ASIC’s long overdue guidance paralleled the government’s release of a 35-page report titled ‘Backing Australian FinTech’ that accompanied a statement from Treasurer, Scott Morrison.

For those of us working as advisors to get ... (read more)