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November 8, 2017updated 10 Nov 2017 10:35am

Australia and China regulators sign fintech pact

The Australian Securities and Investments Commission (ASIC) has signed an agreement with China Securities Regulatory Commission (CSRC) to bolster fintech ties between the two countries.

Under the agreement, the regulators will exchange information on emerging fintech trends in each other’s markets and help to inform local regulatory approaches.

The two watchdogs will also share information on regulatory technology trials.

Commenting on the agreement, ASIC chairman Greg Medcraft said: “This Agreement represents an exciting opportunity for us to learn more about the Chinese fintech sector, which is renowned for its success and dynamism. We also look forward to sharing our insights and experiences on regtech with the CSRC.”

CSRC chairman Shiyu Liu added: “The Agreement between CSRC and ASIC will provide an effective channel for timely exchange of information on fintech developments and regulatory issues, and enhance regulatory cooperation between the two authorities.”

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