The Gateway to Algorithmic and Automated Trading

Japan and Australia co-operate on Fintech

First Published 23rd June 2017

The Japan Financial Services Agency (JFSA) and Australian Securities and Investments Commission (ASIC) complete framework to promote innovation in financial services in Japan and Australia.

This Co-operation Framework will enable the JFSA and ASIC to share information and support the entry of innovative fintech businesses into each other's markets.

In recent years, the JFSA has been actively involved in encouraging fintech through a range of measures including the modification of the legal system to enable financial groups to invest in finance-related IT companies more easily and establishing a legal framework for virtual currency and Open API. This Framework will encourage Japanese fintech start-ups to engage with innovative financial businesses globally.

The Co-operation Framework will enable the JFSA and ASIC to refer innovative fintech businesses to each other for advice and support via ASIC's Innovation Hub and the JFSA's FinTech Support Desk.

It also provides a framework for information sharing between the two regulators. This will enable the JFSA and ASIC to keep abreast of regulatory and relevant economic or commercial developments in each other's jurisdictions, and help to inform domestic regulatory approaches in the context of a rapidly changing global financial environment.

  • Copyright © Automated Trader Ltd 2017 - Strategies | Compliance | Technology

click here to return to the top of the page