FinTech Australia supports proposed sandbox expansion and calls for further improvements

FinTech Australias chair Stuart Stoyan has supported proposed Australian Government legislation to expand Australias fintech regulatory sandbox, however called for further improvements to make the sandbox more robust and fintech-friendly.

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Fintechs leading the way on transparency and small business funding

Australias 2.1 million small to medium enterprises (SME) are the backbone of the nations economy, employing more than 7.3 million people (or about 68 per cent of Australias overall workforce).

Fintech lending and finance firms are increasing providing the capital that these businesses need to invest and grow.

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Media comment on expanded fintech regulatory sandbox consultation

We have today given the following comment in response to several media inquiries seeking our view on the expanded fintech regulatory sandbox (on exhibition until 1 December). The media inquiries were sparked by a submission by several consumer advocacy groups.

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Policy update for October 2017

Its 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.

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ASIC’s ICO guidance a welcome signpost for Australia’s regulatory environment

The release of the Australian securities regulators 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.
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World-leading Regtech showcased at event held by Australia’s financial services regulator

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.

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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. (more…)

Government visa changes a disaster for innovation agenda and startup community

The Australian Governments changes to the skilled visa policy are a disaster for Australias startup community, stopping small innovative firms from overcoming yawning skills shortages, an industry group said today. (more…)

A briefing note from Grant Thornton on the ATO's recent R&D Tax Incentive Alert

FinTech Australia’s Accounting Partner Grant Thornton have provided the below commentary and guidance for our Members on the ATO’s recent ruling on what might be claimed as part of the R&D Tax Incentive. (more…)