FinTech Australia’s chair Stuart Stoyan has supported proposed Australian Government legislation to expand Australia’s fintech regulatory sandbox, however called for further improvements to make the sandbox more robust and fintech-friendly.
Australia’s 2.1 million small to medium enterprises (SME) are the backbone of the nation’s economy, employing more than 7.3 million people (or about 68 per cent of Australia’s overall workforce).
Fintech lending and finance firms are increasing providing the capital that these businesses need to invest and grow.
It’s been an extraordinarily busy month for fintech policy in Australia during late September and across October, so we thought it might be best to bring it altogether in the one post.
The release of the Australian securities regulator’s guidance framework for initial coin offerings (ICOs) is an important step forward for startups looking to crowd-fund a project using digital currencies, and could help further worldwide regulatory discussions on the issue.
Regulatory technology companies that help monitor and manage financial advisor behaviour, potentially risky home loan portfolios and suspicious financial transactions were among those showcased at an event held by the Australian Securities and Investment Commission (ASIC) in Sydney.
As many FinTech Australia members would be aware, the Australian Government’s decision to severely restrict the use of skilled migration visas (previously the 457 Visa) in April caused an uproar in the tech community, particularly given the decision exacerbated existing skills shortages.
Since that time, we have been working closely with StartupAUS and TechSydney to lobby the government on behalf of the tech community. This culminated in the lodgement of a joint submission to the government on 21 June. Read more
The Australian Government’s changes to the skilled visa policy are a disaster for Australia’s startup community, stopping small innovative firms from overcoming yawning skills shortages, an industry group said today. Read more