October FinTech update: The new FinTech services and products to be trialled through the regulatory sandbox

October FinTech update: The new FinTech services and products to be trialled through the regulatory sandbox

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Several months ago, we discussed the Government’s announced expansion of the FinTech regulatory sandbox (https://compliancequarter.com.au/regulatory-changes/). It was proposed then to further reduce red-tape for businesses that wished to trial new financial technology (FinTech) or credit technology products. At that stage, the extent of that expansion was unknown. By Dr Drew Donnelly, Compliance Quarter. On 24 October 2017, the Government released draft legislation and regulations designed to implement that expanded regulatory sandbox. In today’s article we contrast the proposed new set of services and products with the set in the existing regulatory sandbox. This will be of interest to anyone considering trialling a new fintech or credit technology product. Note, this is a draft amendment bill and draft regulations and the Treasury seeks your feedback on them up until 3 November…
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