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Herbert Smith Freehills partners Charlotte Henry, Peter Jones and Peter Dunne, along with consultant Tony Coburn have authored the Australian chapter of The Legal 500: Fintech Country Comparative Guide – a publication which provides a pragmatic overview of the law and practice of fintech law across a variety of jurisdictions. The chapter covers topics such as payments, … Read more
On 19th May 2021, the Senate Select Committee on Australia as a Technology and Financial Centre published their third issues paper. This issues paper talks to one of the revised terms of reference that were added to the Committee’s terms on 18th March 2021, namely opportunities and risks in the digital asset and cryptocurrency sector. … Read more
On 28 April 2021, the Senate Select Committee on Australia as a Technology & Financial Centre (previously known as the Select Committee on FinTech & RegTech) released its Second Interim Report. The Second Interim Report addresses digital assets and the need for a policy framework as well as regulatory issues concerning the consumer data right. … Read more
For most people, life and work have changed fundamentally since the Covid-19 crisis began – and there are concerns that the crisis could still worsen again. Most areas of the world’s economy have been profoundly affected too, and the Fintech sector is no exception. Fintech has been both an epicentre of the crisis – and … Read more
This article was originally posted on the HSF Tech Hub, available here. The Australian Senate’s Select Committee on Financial Technology and Regulatory Technology (the Committee), established in September 2019 to inquire into financial technology and regulatory technology (the Inquiry), released its Interim Report on 2 September 2020. The Inquiry’s remit, already broad in its focus on … Read more
With terminology such as mixers, cold storage, tumblers and Onions (Onion Routers) (TOR), one may be excused for overlooking the significance of money laundering the digital age. Read more
The RBA has recently set out its views that “Most of the regulation set for financial institutions is aimed at the stability of financial institutions….If some of these companies get big enough there will be systemic issues." This is moderately inconsistent with APRA’s latest move, expanding its policy to restricted ADI licences to foster innovation and competition in the banking industry. Australia needs clear guidance and regulatory support to avoid pushing away financial services innovation. Read more
