ASIC and fintech
If you’re an eligible fintech startup and need an Australian financial services licence, an Australian credit licence, or help with an existing licence, the Innovation Hub can help you by providing:
- Twelve months of informal guidance on licensing and regulation
- Access to the Government’s Enhanced?regulatory sandbox?(a 24-month licensing exemption).
Fintech licensing and regulation
The Innovation Hub can offer you 12 months of informal guidance on licensing and regulation, and potential exemptions.
If your application is successful, you’ll be assigned a designated ASIC contact person who can help prepare your licensing applications and provide ongoing support that integrates with your business model. They can also help determine whether there are waivers and relief applicable to your startup or scaleup.
How your input helps ASIC
ASIC seeks to collaborate with innovative startups and scaleups across marketplace lending, crowd-funding, robo-advice, payments and blockchain. Your input will help ASIC understand the challenges that startups face with legal compliance, which may become impractical as the global tech industry continues to leap forward.
ASIC is committed to helping fintech companies navigate the regulatory system and will streamline the licensing process where possible to enable fintech innovation. But we are equally committed?to maintaining the principles of that regulatory system by providing strong and fair protections for Australian consumers and investors.