Australia and Swiss regulators sign fintech cooperation agreement

Australia and Swiss regulators sign fintech cooperation agreement

Australia and Swiss regulators sign fintech cooperation agreement

The Australian Securities and Investments Commission (ASIC) and the Swiss Financial Markets Authority (FINMA) have inked an agreement to foster cross-border fintech innovation.

Under the agreement, the two regulators will refer innovative businesses in each other’s markets and will offer support before and during the authorisation process.

The watchdogs will also share information on regulatory issues related to fintech, such as market trends and developments in fintech.

ASIC chairman Greg Medcraft said: “This expands our innovation cooperation network into continental Europe, and with Switzerland, opens up another key financial centre for Australian fintech expansion.

“This agreement cements an already strong relationship with FINMA, and we look forward to ongoing collaboration in the fast-paced fintech environment in both countries.”