From: RegTech Analyst
Having published an interim report of its findings in September, the Senate Select Committee on Financial Technology and Regulatory Technology will conduct further consultations with the industry.
The Australian Committee has said that it will seek further insights before delivering its final report in April 2021.
The September interim report proposed 32 recommendations to the government on how to ensure that the FinTech and the RegTech industries could thrive, ZDNet reported.
“The committee looks forward to receiving a formal government response to the recommendations in due course,” the committee wrote. “However, it notes that a number of recommendations are already being implemented through measures announced as part of the 2020-2021 budget.
“As foreshadowed in its interim report, the committee will turn its attention to the investigation of longer term issues. The committee still considers that the broad areas of tax, regulation, capital, culture and skills, as well as impacts and opportunities in responding to Covid-19, are key to maintaining Australia’s competitive position.”
The senate committee was launched last year and was welcomed by the FinTech and the RegTech industries, believing it would enable strengthen the sectors’ position in Australia.
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