INTERNATIONAL: Innovation Functions Co-operation Agreement Signed Between MAS Singapore and ASIC Australian&nbsp

Thursday June 16 2016

The Monetary Authority of Singapore (MAS) and the Australian Securities and Investments Commission (ASIC) have signed an Innovation Functions Co-operation Agreement which aims to help innovative businesses in Singapore and Australia entry into their respective markets.

The agreement will enable innovative FinTech companies in Singapore and Australia to establish initial discussions in each other’s market faster and receive advice on required licences, in order to reduce regulatory uncertainty and time to market.

To qualify for the support offered by the agreement, businesses will be required to meet the eligibility criteria of their home regulator. Once referred by the regulator, and ahead of applying for licence to operate in the new market, a dedicated team or contact person will help them to understand the regulatory framework in the market they wish to join, and how it applies to them.

Click on the link above for further details