Enhanced regulatory sandbox regulations

The Australian Government has introduced the enhanced regulatory sandbox (ERS) that superseded ASIC’s previous regulatory sandbox as of 1 September 2020. It was introduced by legislative amendments made in February 2020, and subsequent regulations made on 28 May 2020. The relevant licensing exemptions are provided under the Corporations (FinTech Sandbox Australian Financial Services Licence Exemption) Regulations 2020 and/or the National Consumer Credit Protection (FinTech Sandbox Australian Credit Licence Exemption) Regulations 2020 (collectively, the ERS Regulations).

More information on the ERS regulations is available here:

• ERS Regulations – Explanatory statement
• Corporations (FinTech Sandbox Australian Financial Services Licence Exemption) Regulations. Ref. F2020L00632
• National Consumer Credit Protection (FinTech Sandbox Australian Credit Licence Exemption) Regulations 2020. Ref. F2020L00635