SEARCH
ASIC pens fintech innovation deal with Abu Dhabi
ASIC pens fintech innovation deal with Abu Dhabi
The corporate regulator has entered into a cooperation agreement with the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) to support and understand financial innovation in each jurisdiction.
In a statement today, ASIC said the Middle East and North Africa (MENA) are currently poised for a fintech boom, with several cities taking steps to establish themselves as fintech hubs.
"This Agreement expands ASIC's fintech cooperation network to a dynamic region with enormous potential," ASIC said in the statement.
The deal means Australian fintech businesses wishing to operate in the Abu Dhabi Global Market will now have a simple pathway for engaging with the Financial Services Regulatory Authority, and vice versa.
Similar to the other fintech cooperation agreements ASIC has entered into, this agreement will enable the FSRA and ASIC to refer innovative fintech businesses to each other for advice and support via ASIC's Innovation Hub and its ADGM equivalent, the Regulatory Laboratory known as 'RegLab'.
The agreement also provides a framework for information sharing between the two regulators which will enable ASIC to keep abreast of regulatory and relevant economic or commercial developments in the ADGM and to use this to inform Australia's regulatory approach.
Signing the agreement, ASIC chairman Greg Medcraft said, 'Fintech developments are not confined by national borders. Each country and region has a different experience with fintech, and there is much we can learn from engaging with one another."
Subscribe to our Newsletter
We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians
Your email address will be shared with nestegg and subject to our Privacy Policy
latest articles
OUR PLATFORMS AND BRANDS
- Accountants Daily
- Accounting Times
- Adviser Innovation
- Australian Aviation
- Broker Daily
- Cyber Daily
- Defence Connect
- Fintech Business
- HR Leader
- Independent Financial Adviser
- Investment Centre
- Investor Daily
- Lawyers Weekly
- Money Management
- Nestegg
- Property Buzz
- Real Estate Business
- Smart Property Investment
- SMSF Adviser
- Space Connect
- Super Review
- The Adviser
- Wellness Daily
- World of Aviation
EVENTS AND SUMMITS
- Accountants Daily 30 Under 30 Awards
- Adviser Innovation Summit
- Australian Accounting Awards
- Australian Aviation Awards
- Australian Broking Awards
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Space Awards
- Australian Space Summit
- Better Business Summit & Awards
- Broker Daily Business Awards
- Corporate Counsel Summit & Awards
- Cyber Security Summit & Awards
- Defence Connect Budget Lunch
- Defence Connect DSR Summit
- Fund Manager of the Year Awards
- ifa Excellence Awards
- ifa Future Forum
- Investor Daily ESG Summit
- Lawyers Weekly 30 Under 30 Awards
- Lawyers Weekly Women in Law Forum
- New Broker Academy
- Partner of the Year Awards
- REB Awards
- Reinnovate
- SME Broker Bootcamp
- SMSF Adviser Technical Day
- Super Fund of the Year Awards
- Women in Finance Awards
- Women in Law Awards
- Accountants Daily Podcast Network
- Australian Aviation Podcast Network
- Broker Daily Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- REB Podcast Network
- Relative Return
- Space Connect Podcast
- The Adviser Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- The Smart Property Investment Show
PODCASTS
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
LINKS
STAY CONNECTED
Subscribe to the Adviser Innovation eNewsletter.
