On 11 September 2019, the Senate resolved to establish a Select Committee on Financial Technology and Regulatory Technology. The committee will inquire and report on the following matters:

1. the size and scope of the opportunity for Australian consumers and business arising from financial technology (FinTech) and regulatory technology (RegTech);
2. barriers to the uptake of new technologies in the financial sector;
3. the progress of FinTech facilitation reform and the benchmarking of comparable global regimes;
4. current RegTech practices and the opportunities for the RegTech industry to strengthen compliance but also reduce costs;
5. the effectiveness of current initiatives in promoting a positive environment for FinTech and RegTech start-ups; and
6. any related matters.

The committee is to present its final report on or before the first sitting day in October 2020.

On 24 April 2020, the reporting date was extended from the first sitting day in October 2020 to 16 April 2021.

The resolution establishing the Committee is available in the Journals of the Senate No. 14 – Wednesday, 11 September 2019

Making a submission

The committee has published an issues paper to guide submitters. The paper is not intended to be prescriptive. Your submission may go beyond the issues raised in the discussion paper if it is relevant to the terms of reference. 

Second Issues Paper

The committee has published a second issues paper to guide submitters. The paper is not intended to be prescriptive. Your submission may go beyond the issues raised in the discussion paper if it is relevant to the terms of reference.

Submissions should be emailed to: fintech.sen@aph.gov.au