CP 260 Further measures to facilitate innovation in financial services
Released聽8 June 2016. Comments聽due聽22 July 2016
This paper seeks feedback from financial technology businesses, financial services providers, consumers and consumer representatives, and other parties on our proposed approach to facilitating innovation in financial services:
We are seeking feedback on:
- additional guidance about when we consider a responsible manager has appropriate knowledge and skills;聽
- modifying our policies to allow some small-scale, heavily automated businesses to rely, in part, on sign-off from an appropriately experienced third party in order to meet their organisational competence obligation; and聽
- a conditional, industry-wide exemption to allow new Australian businesses to test certain financial services for six months without holding an AFS licence.
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