Tag archives: AFSL

Time to play? What the enhanced regulatory sandbox means for InsurTechs?

The Australian Government has revamped its FinTech regulatory sandbox providing a broader exemption to the requirement to hold an Australian Financial Services Licence (AFSL) under the Corporations Act 2001 (Cth).  Under the new regulations, which will take effect on 1 September 2020,[1] companies can test new financial services relating to certain financial products for up … Continue reading

Insurance claims handling soon to be a financial service

Following the release of the Royal Commission final report earlier this year, the Treasury has now released draft legislation that will make insurance claims handling a financial service under the Corporations Act 2001 (Cth). This will give the Australian Securities and Investments Commission (ASIC) greater supervisory responsibility over claims handling and require that these activities … Continue reading
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