ASIC has released Report 523 – ASIC’s Innovation Hub and our approach to regulatory technology for public comment.
REP 523 provides an update on the work of ASIC’s Innovation Hub and outlines its approach to financial technology, regulatory technology (regtech) and related areas, and proposes to implement the following new initiatives:
- establishing new regtech liaison group to enable networking, discussion of regtech developments and collaboration opportunities that promote positive applications of regtech;
- continued use of regtech technology trials in ASIC’s regulatory, supervisory and enforcement work; and
- holding a problem-solving event to catalyse thinking and approaches to deal with regulating problems commonly faced by the financial sector and to help identify potential challenges to solve.
For a full summary of the issues, email us a request at [email protected]
This document is designed to provide helpful general guidance on some key issues relevant to this topic. It should not be relied on as legal advice. It does not cover everything that may be relevant to you and does not take into account your particular circumstances. It is only current as at the date of release. You must ensure that you seek appropriate professional advice in relation to this topic as well as to the currency, accuracy and relevance of this material for you.
Liability limited by a scheme approved under Professional Standards Legislation. Legal practitioners of Radford Lawyers Pty Limited are members of the scheme.