Innovation Hub

Welcome to ASIC's Innovation Hub

ASIC has developed an online hub with tailored content for fintech businesses that are developing innovative financial products or services.

New technology is creating new opportunities, and new risks, in financial services and markets.

We are committed to encouraging innovation that has the potential to benefit consumers. We are equally committed to ensuring that the regulation of new products and services is appropriate, effective and promotes investor and consumer trust and confidence.

If you wish to subscribe to receive updates about our work in this area, or would like to contact us regarding the development of your new product or service, please email innovationhub@asic.gov.au.

ASIC explains regulatory sandbox

8 June 2016, 6.00pm

Melbourne FinTech Startups meetup

Join ASIC Commissioner John Price, and Senior Executive Leader Mark Adams as they take us through the ASIC consultation paper (CP) on the regulatory sandbox that will be published on 8 June. You will have an opportunity to ask how it might work in practice and how you can be involved in developing a submission to the CP.

More details on the meetup

Regulatory sandbox proposal

4 May 2016

In June, ASIC will issue a public consultation paper on a proposed regulatory sandbox licensing exemption and other measures. Important features of the proposals are set out in ASIC's recent media release but will be described in detail in the consultation paper.

Read the media release

FinTech Regulation 101

Sydney FinTech Startups meetup

On 14 April 2016 representatives from ASIC, Austrac, APRA, RBA, and OAIC shared their insights on how to navigate the FinTech regulatory landscape.

View the slides of the joint presentation

ASIC signs Innovation Hub agreement with UK Financial Conduct Authority (FCA)

23 March 2016

Under a new world-first agreement, innovative fintech companies in Australia and the United Kingdom will have more support from financial regulators as they attempt to enter the others’ market.

Read more about the agreement

Regulation of digital financial product advice

21 March 2016

ASIC has released a Consultation Paper 254 which attaches a draft Regulatory Guide on regulating digital financial product advice (also commonly known as robo-advice).

Consultation Paper 254 Regulating digital financial advice seeks feedback on issues that are unique to digital advice businesses, in particular: the organisational competence obligation that applies in a digital advice context; and the ways in which digital advice licensees should monitor and test their algorithms.

ASIC's draft Regulatory Guide 000 Providing digital financial product advice to retail clients brings together some of the issues that persons providing, or intending to provide, digital advice to retail clients need to consider when operating in Australia—from the licensing stage (i.e. obtaining an Australian financial services (AFS) licence) through to the actual provision of advice. ASIC will be taking submissions over an 8 week period.

Further details are set out in Consultation Paper 254

Guidance on marketplace lending

21 March 2016

ASIC has published an information sheet for issuers of marketplace lending products. The information sheet gives guidance on the regulatory requirements that apply to marketplace lending, including licensing, disclosure and advertising.

The information sheet also contains some good practice that ASIC suggests issuers can implement to help consumers better understand their products..

Read the information sheet

FAQs for fintech businesses

ASIC has published responses to frequently asked questions (FAQs). We have provided targeted answers to important questions about holding a licence from ASIC, acting as a representative of a licence holder and the assistance that ASIC can provide.

We will be releasing more FAQs in the coming weeks. 

Innovation Hub - Frequently asked questions

Related links

Robo-advice

Asic Logo Special Podcast 60X40

How does robo-advice sit alongside traditional financial advice?

Where does robo-advice cause the most disruption?

How does the current regulatory framework apply to robo-advice?

What are the issues that are unique to robo-advice?

Listen now or download for later

Last updated: 31/05/2016 11:46