In remarks published by the Australian Securities & Investments Commission, Chair Joe Longo said ASIC wants a more helpful regulatory sandbox that gives firms a clearer path from innovation to licensing. Speaking at a Tech Council of Australia panel on innovation in financial markets, he said the model could involve closer work with the Reserve Bank of Australia and other regulators and, if resources allowed, a dedicated ASIC contact to stay with a startup through its regulatory journey. Longo presented this as an ambition rather than an announced reform. He said rapid advances in areas such as artificial intelligence, payments and digital assets are forcing regulators to invest more time and capability in understanding new technologies, while still applying existing law and keeping products safe and trusted. He argued that innovators should not have to navigate ASIC, the Reserve Bank of Australia and Treasury separately, and said ASIC has also spent the past five years addressing its own technology debt and increasing its use of AI-related tools.
Australian Securities & Investments Commission2026-05-27
Australian Securities & Investments Commission outlines a more hands on sandbox model for financial startups
ASIC Chair Joe Longo signalled an ambition to make ASIC’s regulatory sandbox more supportive, including a clearer path from innovation to licensing and closer coordination with the Reserve Bank of Australia and other regulators. He said rapid advances in artificial intelligence, payments and digital assets require regulators to deepen their technology capabilities while applying existing law, and noted ASIC has been addressing its technology debt and expanding its use of AI tools.