Enhanced regulatory sandbox

The Australian Government has introduced the enhanced regulatory sandbox (ERS). The sandbox allows natural persons and businesses to test certain innovative financial services or credit activities without first obtaining an Australian financial services (AFS) licence or Australian credit licence (credit licence). The ERS aims to facilitate financial innovation in Australia from 1 September 2020.

The enhanced regulatory sandbox supersedes the previous regulatory sandbox administered by ASIC. It allows testing of a broader range of financial services and credit activities for a longer duration (up to 24 months). We have provided several resources providing information and guidance on the new framework:

If an entity intends to use the enhanced regulatory sandbox, it must first complete and lodge with ASIC a prescribed form for the financial service or credit activity that you plan to test:

If you require additional information or assistance with the ERS exemption, contact ASIC's Innovation Hub at innovationhub@asic.gov.au.

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News

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ASIC issues guidance for Government’s enhanced regulatory sandbox

25 August 2020

ASIC has released guidance to assist innovative financial businesses test their products and services under the Government’s enhanced regulatory sandbox (ERS), scheduled to commence on 1 September 2020.

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Events

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Enhanced regulatory sandbox: Overview Webinar

1 September 2020

ASIC hosted an overview webinar on the Government's Enhanced Sandbox (ERS). To watch the event recording and download a copy of the presentation, visit the ERS additional resources page.


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Last updated: 01/09/2020 08:57