Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

ASIC backs fintech industry with new committee

ASIC has boosted its commitment to the fintech industry by establishing a new advisory committee to help it engage with the sector.

The regulator's Innovation Hub, established in April this year, has been developed to help fintech companies navigate ASIC’s regulatory system and encourage further innovation.

As part of the hub, ASIC has established the Digital Finance Advisory Committee (DFAC) – an external committee that will guide the regulator’s efforts in the sector.

ASIC commissioner John Price said the regulator is committed to encouraging innovation, particularly where it can lead to better consumer and market outcomes.

“These perspectives provided by the committee members will help ASIC direct its efforts in the fintech sector," he said

Advertisement
Advertisement

PROMOTED FEATURES


Despite the relative success of the Innovation Hub – 32 external meetings with fintech businesses have been recorded since its establishment – ASIC still prioritises regulation.

“ASIC will not compromise the fundamental principles of financial services regulation.

“We continue to prioritise appropriate regulation to promote customer and investor trust and confidence,” Mr Price said.

The DFAC is comprised of: SocietyOne chief executive Matt Symons, Stone and Chalk chief executive Alex Scandurra, Sunsuper director Jenni Mack, Tyro Fintech Hub head Andrew Corbett-Jones, H2 Ventures managing director Toby Heap, 25fifteen general partner Kim Heras, and Fishburners general manager Murray Hurps.

Monash University professor of finance Deborah Ralston will serve as chair.

ASIC backs fintech industry with new committee
mortgagebusiness

Latest News

The federal government has unveiled a plan to overhaul responsible lending laws by shifting from a “lender beware” model to a “borrowe...

Housing affordability pressures have intensified for first home buyers in five of Australia’s major capitals, who now require more time to...

ASIC has directed fund managers to do more to remain “true to label” after finding that funds labelled as cash had assets other than cas...

FROM THE WEB
podcast

LATEST PODCAST: How lenders are viewing the property price outlook

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.