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Japan’s Financial Services Agency (JFSA) and the Australian Securities and Investments Commission (ASIC) have completed a framework aimed at promoting fintech services in both countries, according to a statement from the Australian watchdog.
The framework will help to open up an important market for Australia’s fintech industry, the statement said. In line with other bilateral fintech agreements, the framework also aims to “enable the JFSA and ASIC to refer innovative fintech businesses to each other for advice and support via ASIC’s Innovation Hub and the JFSA’s fintech support desk”.
“Japan has been a world leader in technology for a long time,” said ASIC commissioner John Price. “As we move into a new era of financial regulation, we look forward to sharing experiences and insights with our colleagues at the JFSA.”
Earlier this month, Australia inked a similar agreement with Hong Kong’s Securities and Futures Commission (SFC).
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