Australia’s fintech industry today called for the speedy approval and implementation of private company equity crowdfunding legislation to help more Australian small-to-medium sized businesses to access the funds they need to grow.
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”.
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
Open financial data reforms, reduced barriers for banking licences, an expanded regulatory sandbox and digital currency tax cuts are among the major initiatives in the 2017-18 Australian budget welcomed by Australia’s fintech industry body. Read more
Australia’s fintech industry today threw its support behind proposals to increase banking competition by making it easier for new market entrants to get bank licences and access bank-held customer financial data. Read more
The peak body for Australia’s fintech industry today welcomed the approval of new equity crowd-sourcing laws and confirmed the changes would provide a major new avenue to allow companies to grow and create jobs. Read more
Greater consumer choice and a stronger Australian financial services industry will flow from proposed reforms to make it easier for customers to access their data, a major policy roundtable has heard. Read more
Australia’s fintech community today renewed its call for additional tax benefits for companies and research institutions that collaborate with startups to create growth and jobs, in the wake of the release of a major review into Australia’s innovation eco-system. Read more
National e-Invoicing Framework – RESTful specifications
The Digital Business Council, with the support of the Australian Taxation Office and the Federal Department of Industry Innovation and Science, has established a national e-invoicing framework with a view to improving productivity for Australian business. Read more
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