Is my regtech company eligible for assistance?

Regtech companies are welcome to get in touch with ASIC via the Innovation Hub. The type of informal assistance we can provide depends on your business, but could include help with licensing and international referrals, or the opportunity to participate in regtech events and our quarterly Regtech Liaison Forums.

To be eligible for informal assistance, your regtech business should be a startup, scaleup or established business that is developing or providing regtech products or services. You should also demonstrate how:

  • Innovative regtech product or service can potentially promote a better outcome for investors, financial consumers and markets.
  • The extent to which a regtech product or service will align with and promote ASIC's regulatory objectives through improved risk management or compliance.
  • The extent to which regtech tools and systems promote the efficient and effective sharing of information with ASIC.

ASIC will consider all requests through the Innovation Hub and aims to help as many businesses as possible. The more developed your business model is, the more specific we can be on any guidance we provide.

Please note: ASIC does not endorse any regtech businesses it assists or otherwise.

How ASIC selects regtechs to help

The Innovation Hub will give preference tp innovative regtech businesses. ASIC considers ‘ground-breaking innovation’ to be new or significantly different products or services from those currently available.

Whether your regtech product or service can potentially provide a ‘better outcome’ for users is a factor we will also consider.

Two other factors will help determine whether your business is selected for assistance: the timing of your request within your business-planning process, and the level of detail you supply in your application. Both these issues will affect the quality of advice ASIC can provide.

When filling in your application for assistance form please describe:

  • what your business will be/is and the stage your innovation is at
  • who your customers are
  • product/services you’ll be providing and how
  • other businesses you will work with
  • the type of help you need from ASIC.

Regtechs: apply for assistance

 Regtech engagement form

Please fill out the Innovation Hub regtech startup assistance request form. Submit any questions, along with and your completed form (with any relevant attachments you wish to include) to Mark Adams at innovationhub@asic.gov.au.

The application process takes approximately one month, depending on the complexity of your application. You’ll hear back from ASIC within this timeframe as to whether or not your application has been successful.

For some businesses we may respond in writing; for others we may arrange a meeting to discuss their proposals. The more developed your business model is, the more specific we can be on any guidance we provide.

Regtech assistance checklist

  1. Is your startup or scaleup developing regtech products or services?
  2. Can you describe how your business works and who your customers are?
  3. Is your innovation potentially ‘ground-breaking’?
  4. Will your innovation provide a better outcome for users?

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News

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Archive

Last updated: 30/03/2021 09:26