Share on LinkedInShare on LinkedIn

ARTICLE · 31 MAY 2017

Fintech regulatory sandbox update

Colin Biggers & Paisley
Explore more from Colin Biggers & Paisley

The Government plans to expand the scope of the regulatory sandbox to test a wide range of financial and credit services.

AustraliaTechnology
Matthew Bode
Matthew Bode
Melanie Williamson
Melanie Williamson
Harriette Watson
Harriette Watson

IN BRIEF - BUDGET 2017 INCLUDES SOME GOOD NEWS FOR FINTECHS

In our April article entitled " Regulatory sandbox: room for fintechs to play", we discussed how the changes to ASIC's regulatory sandbox framework would allow financial technology businesses (fintechs) to test the viability of their services without the usual barriers associated with providing financial services or engaging in credit activities. There have been some updates to this position as a result of the release of the Federal Government's 2017 Budget.

GOVERNMENT PLANS TO EXPAND SCOPE OF ELIGIBLE BUSINESSES AND EXTEND LICENSING EXEMPTION TIMEFRAME

In the Federal Government's 2017 Budget announcement on 9 May 2017, the Federal Government committed to legislating to expand the scope of businesses which qualify for the regulatory sandbox and to extend the timeframe of the licensing exemption from 12 months to 24 months.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

APRA v Bedingo And Adelaide Bank: A Wake-up Call For Directors And Officers

The Australian Prudential and Regulatory Authority has launched unprecedented civil penalty proceedings against Bendigo and Adelaide Bank following a 2023 cybersecurity breach that exposed critical weaknesses in the bank's risk management systems. This landmark case signals a fundamental shift in regulatory enforcement, extending accountability beyond corporate entities to individual directors and officers who fail to ensure adequate cybersecurity controls are functioning as intended.
AustraliaTechnology
Kennedys
Kennedys
Article

ASIC Demands Urgent Cyber Upgrades To Combat Frontier AI Security Threats

In an open letter published on 8 May 2026, ASIC, who are responsible for regulating Australia's corporate, financial services and insurance sectors, urged Australian financial services licence (AFSL) holders to act promptly against the risks posed by advanced AI systems. ASIC warned that malicious actors are increasingly using cutting-edge AI models to identify and exploit vulnerabilities at an unprecedented scale.
AustraliaTechnology
Kennedys
Kennedys
Article

South Australian Royal Commission Into Artificial Intelligence: What Businesses Need To Know Now

South Australia has announced a Royal Commission into Artificial Intelligence, set to commence in October 2026 and deliver findings by July 2027. The inquiry will examine AI's economic and social impacts across policy, education, public services, workforce transformation, and infrastructure. Businesses using or developing AI should prepare for potential regulatory reforms and consider engaging with the inquiry process.
AustraliaTechnology
Piper Alderman
Piper Alderman