Category: Policy Reform

Regulatory pathway for new banking entrants is welcome but could be improved: FinTech Australia

A proposed new regulatory pathway to allow the creation of Australian challenger banks is a welcome move but does require some improvements, according to the peak body for the nation’s fintech industry.

FinTech Australia has lodged a submission with the Australian Prudential Regulation Authority (APRA) in response to its discussion paper, entitled “A phased approach to authorising new entrants to the banking industry”.

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Updates to skilled migration visa occupation lists

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

FinTech Australia welcomes the introduction of bill to improve Crowd-sourced Equity Funding Legislation

Today a new bill has been introduced into parliament aimed at improving Australia’s recently created Crowd-sourced Equity Funding, or “Equity Crowdfunding” legislation. FinTech Australia welcomes the introduction of this bill, which represents a substantial step forward in making Australia internationally competitive in this vitally important area. Read more