Although fintech is a relatively new approach, Sophie Grace has been assisting financial services and credit businesses to better understand the rules and regulations that may affect their businesses and the best way to manage them since 2006.
Sophie Grace is equipped to help businesses establish where they fit within the regulatory network and deal with the relevant regulators.
ASIC’s Innovation Hub is an initiative for fintech business that are developing innovative financial products or services. Eligible businesses may receive informal guidance from ASIC through the Innovation Hub. The guidance provided is intended to help start-ups and scaleups navigate Australia’s regulatory system. For example, ASIC will assist businesses in understanding their obligations under the financial services and credit regulatory frameworks, how they administer this framework and ASIC’s thoughts on regulatory issues you should consider when establishing your business. Eligibility for the Innovation Hub will depend on whether your business meets certain criteria as set by ASIC.
The Australian Government’s Enhanced Regulatory Sandbox allows eligible fintech companies to test new products and financial services for up to 24 months without financial services or credit licensing requirements being imposed. The sandbox was created to encourage Australian innovation in the fintech sphere and minimise the regulatory barriers to entry in the fintech industry. There are three broad options for testing a new product or service without a licence. The options are:
Eligibility for the Regulatory Sandbox will depend on whether your business meets certain criteria as set by ASIC. You can learn about the Regulatory Sandbox here.
Please contact us for more information on how we can assist you
Sophie Grace can provide you with an AML/CTF Program and can assist you to tailor it to your business’ needs. We have three different options available to suit your business and finance needs.
You can purchase template documents from our online shop. The template is an instant download and includes prompts to help you tailor the document yourself. We have template documents for:
Sign up to the Compliance Portal and receive the template AML/CTF Program Package, and obtain access to updated documents in light of any updates we make as new guidance or amended legislation is released. Choose between:
Sophie Grace can assist you to prepare the AML/CTF Program package based on your business’ specific requirements. Contact us to discuss further.
Find everything you need in relation to the AML/CTF Reforms
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