Past events

ASIC presents at a range of fintech meetups and events to discuss the Innovation Hub, our approach to new business models and address questions from the sector on regulation and compliance. 

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Past events

15th ASIC regtech liaison forum - Cancelled

The 15th ASIC Regtech Liaison Forum has been cancelled due to its proximity to other regtech events in April. 

Next meeting

The next ASIC Regtech Liaison Forum will be held on Friday 20th May 2022 from 10:30am to 12:00pm (AEST). Event registration details will be provided closer to the date.

Business Research and Innovation Initiative (BRII) project update

ASIC is working closely with the Department of Industry, Science, Energy, and Resources to support the five regtech firms selected to explore potential solutions in addressing the corporate disclosure challenge. The latest BRII round assesses the potential of these solutions by requiring the regtech entities to conduct a feasibility study for a period of three months. The feasibility study commenced a month ago with final presentations expected to take place in May. We look forward to updating you on further developments at the next forum.

You can refer to the media release here for more information on this initiative.

14th ASIC regtech liaison forum

The potential of regtech to support transformation while promoting regulatory compliance, market integrity, and positive consumer outcomes remain core tenents of ASIC's research into the sector.

The 14th ASIC Regtech Liaison Forum featured discussions surrounding developments and opportunities arising from the application of regulatory technology across Australia including:

  • ASIC updates on regtech engagements, international engagements and ASIC's Business Research and Innovation Initiative (BRII) Regtech Challenge 
  • Regtech industry updates from the RegTech Assocation, APEC Trade and Investment Section of the Department of Foreign Affairs and Trade and Verifier
  • Regtech industry discussion involving Deobrah Young (CEO, RegTech Association), Christine Schaeffer (Assistant Director, APEC Trade and Investment Section, Department of Foreign Affairs and Trade) and Lisa Schulz (Founder and CEO, Verifier)

Financial Innovation: Regulator Meet-up

ASIC's regulator meet-ups bring together representatives from national bodies to outline their latest initiatives and news with financial innovation and technology. Audience members have the opportunity to submit questions directly to regulators and agencies during this virtual meet-up.

This session began with an opening statement from ASIC Commissioner Cathie Armour, followed by presentations from:

  • ASIC updating the audience on the Innovation Hub, the Licensing process, the Enhanced Regulatory Sandbox, and crypto-assets
  • APRA covered its new approach to licensing new banks
  • ACCC outlined their technology solutions, recent developments, and plans for the future.

13th ASIC regtech liaison forum

ASIC's 13th Regtech Liaison Forum's agenda focused on the opportunities and challenges faced by regtechs to help meet design and distribution obligations (DDOs) commencing 5 October.

The session opened with an address from Commissioner Cathie Armour, followed by an Innovation Hub update. The presentations concluded with an outline of research and results conducted by the RegTech Association.

An industry panel then spoke of regtech's potential to support businesses meeting their design and distribution obligations. In order to comply with DDOs, industry will need to invest in data systems so as to properly monitor these attributes. Another vital aspect is concise consideration of information flow between issuers and distributors.

For more insights from consultancies and regtech leaders watch our recording of the forum below. A copy of the video can be found on ASIC's YouTube channel. You can also download a copy of the slide deck here.

12th ASIC regtech liaison forum

The potential of regtech to support transformation while promoting regulatory compliance, market integrity, and positive consumer outcomes remain core tenents of ASIC's research into the sector.

ASIC's 12th Regtech Liaion Forum commenced with an opening address from Commissioner Cathie Armour. ASIC then provided an overview of our latest regtech engagements, followed by an industry panel discussion with RegTech Association board members and AusTrade.

The ACCC the delivered an overview of the Consumer Data Right Conformance Test Suite.

To close, representatives from the Department of Industry, Science, Energy and Resources and ASIC outlined the current Regtech Round of the Business Research and Innovation Initiative (BRII).

If you missed the session you can find a recording of the entire forum below or on our YouTube channel. You can also download a copy of the slide deck here.

Financial Innovation: Regulator Meet-up

ASIC's regulator meet-ups bring together representatives from national bodies to outline their latest initiatives and news with financial innovation and technology. Audience members have the opportunity to submit questions directly to regulators and agencies during this virtual meet-up.

Our session, airing 2PM Friday 27 November, saw ASIC outline the latest from the Innovation Hub and its administration of the Government’s enhanced regulatory sandbox (ERS). APRA provided an overview of its work looking at stored-value facilities, followed by Austrade speaking on international, trade, and investment activities revolving around fintech. Finally, the OAIC and the ACCC covered the latest information on the Consumer Data Right (CDR).

For more information, download a copy of the agenda and presentation slides available at the relevant links or below.

Meet-up Agenda

Meet-up Presentation

During the webinar, we received several questions that our speakers didn’t have time to answer. Please find some brief responses below:

  • What is the threshold for regulation responsibility moving from ASIC to APRA? In the proposed future framework (for SVF providers that offer accounts with functionality that allows account holders to store a significant amount of value for a long period of time) the threshold for requiring APRA authorisation will be $50 million of customer funds held.

  • How are, or will be, BNPL considered by the SVF and PPF framework? Currently, BNPL as a standalone product does not meet the criteria to come under APRA authorisation as it is a short term credit facility rather than a facility that customers use to store value. The treatment of BNPL providers is still under consideration.

  • Is there a good awareness of the need to ensure that regulatory language appropriately supports technology agnosticism going forward, particularly as it relates to using DLT as an alternative to a database+API? APRA is technology and supplier neutral. Authorised entities must demonstrate an ability to manage the risks of its chosen IT framework, infrastructure and solutions as set out in the relevant prudential standards.

  • If an Australian SVF purchased with AUD pays has an at call facility that pays out the customer with a crypto asset, is that covered by these new regulations? The proposed new framework for SVF providers should be flexible enough to accommodate innovative business models and future developments.

Additional FY2019–20 regtech initiatives

ASIC has developed additional regtech initiatives for FY2019–20 with the nature and scale of these initiatives designed in light of the evolving situation surrounding the novel coronavirus (COVID-19).

The design of these initiatives have been informed by previous regtech projects undertaken during FY2018–19. ASIC’s upcoming initiatives include:

  • Remote services and supervision webinar (14 July 2020)
    A free webinar discussion forum between industry, regulators and guests highlighting regtech’s potential to support the provision and supervision of financial services whilst many staff work remotely. The panel will include representatives from financial firms and professional service providers. If you missed the live event, you can watch the recording below or by following the links provided.

  • Responsible lending demonstration webinar (20 August 2020)
    ASIC hosted a public problem-solving event with a curated synthetic data set in which selected regtech providers demonstrated how AI/ML can be used to support a firm’s compliance with responsible lending obligations. The regtech solutions were showcased at the public webinar followed by an industry panel discussion.

ASIC's 8th Regtech Liaison Forum

Friday 22 November, 2019

ASIC's quarterly Regtech Liaison Forum provides a space for the exchange of ideas, and establishing opportunities for future collaboration around the central topic of Australia's regtech ecosystem. The series provides businesses and individuals with an opportunity to meet directly with ASIC and other regulators to ask questions, network and speak to fellow industry leaders.

Voice Analytics Symposium

Tuesday 24 September 2019

ASIC's third Regtech Initiative - the Voice Analytics Symposium - shared the findings of a Voice Analytics and Voice-to-Text (VA&VT) trial.

Earlier this year, ASIC conducted a VA&VT trial examining issues identified in ASIC’s Report 587 The sale of direct life insurance. The report found that inappropriate sales practices led to poor consumer outcomes.

ASIC chose three trial demonstrators, Call Journey, Daisee and Deloitte, via a tender process. They were provided with a dataset of 1,700 life insurance sales calls and were asked to apply their regtech solutions to analyse and report on calls

Australia’s first fintech minister, Senator Jane Hume, opened proceedings by providing observations on the Government’s interest in the regtech and fintech sectors. ASIC Chair James Shipton also provided an introductory statement highlighting the state of innovation in Australia, his vision for what the technology is capable of, and what it means for Australia as a global leader in this industry.

A copy of the demonstration slides can be found below:

Watch the event: available below on livestream.

Financial Advice Files Symposium

Thursday 22 August 2019

The second event in ASIC’s Regtech Initiative series – the Financial Advice Files Symposium – saw six demonstrators analyse financial advice files to identify risk indicators around non-compliance. These new technologies have the potential to help advisers and entities meet their regulatory and professional requirements.

In his opening statement, Deputy Chair Daniel Crennan QC said the financial advice industry should include capacity to explore, test and implement ‘compliance-by-design’ regtech solutions into their business model. This message was reinforced by industry experts, sharing their observations of regtech trends and projections of what’s to come during the panel discussion and commentator observation sessions.

Watch the event: available below on livestream.

Monitoring Financial Promotions Symposium

Friday 2 August 2019

The first event in ASIC’s regtech initiative – Monitoring Financial Promotions Symposium – saw five demonstrators analyse financial promotional material (both traditional and non-traditional media) to extract key features and identify potential risk characteristics.

Commissioner Cathie Armour set the tone in her commencement address by announcing the regtech initiative is about keeping an open mind and providing better outcomes for consumers. This message was reinforced by industry experts, sharing their observations of regtech trends and projections of what’s to come.

Watch the event: the entire session is available below on livestream.

For any specific sessions from the event, follow the follow links:

ASIC’s 7th Regtech Liaison Forum

Friday 26 July 2019

This Forum facilitates discussions and networking around developments and opportunities that arise from the application of regtech. ASIC looks to establish stronger outcomes for consumers, whilst simultaneously encouraging efficiencies in market performance.

This session explored:

  • ASIC's upcoming Regtech Demonstration and Symposium events across Financial Promotions and Financial Advice;
  • The latest observation across recent developments;
  • Regulators’ update on use and interest in regtech;
  • Opportunity for Q&A.

The session was held at each of ASIC's major capital offices, connected via video link.

Each of these events are open to presentations from across the industry. If you have an interesting case study or experience you'd like to speak on, please feel free to contact regtech@asic.gov.au for a follow-up discussion.

ASIC's Regtech Liaison Forum - Meeting 06

12 April 2019

Hosted in ASIC's Sydney and Melbourne offices with sites in Perth, Brisbane, Canberra and Adelaide and Hobart connected via video conference.

 

 

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News

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Applications Close for Business Research and Innovation Initiative - Regulatory Technology Round

17 June 2021

The Australian Government is providing up to $10 million in grant funding to Australian startups and SMEs to help bring their big ideas to market. Applications for the Business Research and Innovation Initiative have now closed.

Find out more

ASIC joins the Business Research and Innovation Initiative - Regulatory Technology Round

15 April 2021

ASIC’s BRII challenge seeks to establish an innovative technology solution to analyse market announcements (and other corporate disclosures) by listed companies and entities to help identify and assess poor market disclosure. More information can be found in the challenge fact sheet.

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Events

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14th ASIC regtech liaison forum - registrations now open

10 December 2021

ASIC's 14th Regtech Liaison Forum will take place 10:30am Friday 10 December 2021. More information.

Register

Financial Innovation: Regulator meet-up - recording now available

21 September 2021

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.

Watch now


Archive

Last updated: 27/04/2022 04:32