Industry

Global regulators may propose rules to prevent “fintech” innovations from destabilising the broader financial system, the G20’s Financial Stability Board (FSB) said on Saturday.

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Financial-technology companies are supposed to fundamentally disrupt the business of banking. Unfortunately for investors, their shares have lately traded a lot like old-fashioned banks.

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Over the past year, the fintech industry has transformed from a hypothetical hotspot to an actual hotspot.

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The fintech sector has taken aim at the government's proposed legislation on equity crowdfunding, with particular ire focused on the requirement for crowdfunders to become unlisted public companies.

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Fintech start-up eSMSF Advice has developed a platform that it says will help accountants meet the requirements of the new licensing regime.

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