Enhanced regulatory sandbox exemption users

Enhanced regulatory sandbox: current users

 

InvestorFX Pty Ltd

ABN | ACN | ARBN: 95 606 593 499

Authorisations/Services Approved:

Provide General Advice and Deal by Applying for or Acquiring the following classes of financial products – to wholesale clients only:

  • a non-cash payment facility made available by an ADI in the course of its banking business;
  • an interest in a simple managed investment scheme;
  • a debenture, stock or bond issued or proposed to be issued by the Commonwealth;
  • a security included in an official list of a prescribed Australian financial market;
  • a security included in an official list of a prescribed overseas financial market: New York Stock Exchange, NASDAQ, LSE, DAX and Euronext;
  • foreign exchange contracts;
  • basic and non-basic deposit products;
  • interests in managed investment schemes including IDPS; and
  • interests in managed investment schemes limited to MDA services

Deal by issuing, varying or disposing of a non-cash payment facility – to wholesale clients only.

Clients: Wholesale

Business Description: InvestorFX Pty. Ltd. proposes to provide, through its ‘IFX App’, a single hub for personal investment, saving, payments, budgeting / analytics, digital wallet, currency transfers and borrowing. 

Date ERS exemption commences: 28 March 2021

Date ERS exemption concludes: 27 March 2023  

AFCA membership number: 80942 

 

Xen Pay Pty Ltd

ABN | ACN | ARBN: 28 642 659 658

Authorisations/Services Approved: Dealing by issuing, varying or disposing of a non-cash payment facility.

Clients: Retail

Business Description: Xen Pay Pty Ltd proposes to provide a zero touch payments service between clients via a mobile app by one of two methods – either by scanning an assigned QR Code or nominating the mobile phone number registered to a payee (consumer or merchant).

Date ERS exemption commences: 19 February 2021

Date ERS exemption concludes: 18 February 2023  

AFCA membership number: 78306


Halalstocks.co Pty Ltd

ABN | ACN | ARBN: 77 639 348 593

Authorisations/Services Approved: General advice in securities included in an official list of a prescribed overseas financial market (NYSE and NASDAQ in the United States).

Clients: Retail

Business Description: Halalstocks.co Pty Ltd offers clients a menu of ethical and Shariah-compliant equity investment options (‘models’) on their website and app, and customers can select a model based on their preference.

Date ERS exemption commences: 5 January 2021

Date ERS exemption concludes: 4 January 2023  

AFCA membership number: 79890


Bano Pty Ltd

ABN | ACN | ARBN: 93 643 260 431

Authorisations/Services Approved

  • Provide general financial product advice for the following classes of financial products:
    • non-cash payment facility;
    • debentures, stocks and bonds;
    • securities (Australian and overseas financial markets);
    • interests in managed investment schemes;
  • Dealing by applying for or acquiring/arranging to issue, vary or dispose of the following:
    • debentures, stocks and bonds;
    • securities (Australian and overseas financial markets);
    • interests in managed investment schemes; and
  • Dealing by issuing, varying or disposing of a non-cash payment facility

Clients: Retail and wholesale

Business Description: Bano Pty Ltd offers a digital wallet that, in addition to payment services, also offers users options to avail of remittance services and to invest in simple managed investment schemes, domestic/international securities, and Commonwealth debentures/stocks/bonds.

Date ERS exemption commences: 19 December 2020

Date ERS exemption concludes: 19 December 2022

AFCA membership number: 78414

 

Fee Stream Pty Ltd

ABN | ACN | ARBN: 64 635 453 164

Authorisations/Services ApprovedDealing by issuing, varying or disposing of a non-cash payment facility.

Clients: Retail

Business Description: Fee Stream Pty Ltd operates a payments bridge business model using SaaS technology combined with behavioural analytics to produce better cashflow outcomes for both customers and merchants. It helps customers set up their own payment plan and make flexible payment towards bills, such as council rates.

Date ERS exemption commences: 1 October 2020

Date ERS exemption concludes: 30 September 2022

AFCA membership number: 77369

 

Enhanced regulatory sandbox: past users

No past users

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ASIC publishes REP 685 ASIC's Regtech Initiatives 2019-20

20 January 2021

ASIC’s Regtech Initiatives 2019-20 report covers observations and findings from the regtech initiatives we conducted throughout the year.  The report outlines that regtech is particularly useful for identifying and, in some cases, assessing indicators of concerning conduct or activities by financial businesses.

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GFIN invites firms to participate in cross-border testing

30 October 2020

The Global Financial Innovation Network (GFIN) is inviting applications from firms to test innovative financial products, services, business models or regulatory technology across more than one country or jurisdiction.

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Financial Innovation: Regulator meet-up, recording now available

1 December 2020

ASIC's regulator meet-ups bring together representatives from national bodies to outline their latest initiatives and news with financial innovation and technology. More information.

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11th ASIC regtech liaison forum

4 December 2020

The forum provides a regular chance for industry representatives and regulators to discuss the developments and opportunities within the regulatory technology (regtech) space. More information.

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Last updated: 29/03/2021 03:18