The Senate Select Committee on Financial Technology and Regulatory Technology has published its Interim Report.

Its 32 recommendations include that the Australian Government establish a market basis for determining the success of Australia’s financial regulators in supporting a pro-innovation and pro-competition culture in financial services.

The Report discusses issues such as the regulation of buy now, pay later services and screen-scraping but does not make any specific recommendations about them.

The Report deals with:

  • COVID-19 recovery measures
  • Tax issues
  • Regulation issues
  • refining and expanding the Consumer Data Right
  • Access to Capital
  • Culture
  • Skills and training.

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Author: David Jacobson

Principal, Bright Corporate Law

Email: djacobson@brightlaw.com.au

About David Jacobson

The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.

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