Australia's Department of the Treasury has launched a consultation to gather views for an independent review of the Enhanced Regulatory Sandbox (ERS), with responses intended to inform the review’s final report to government. The consultation seeks feedback on the sources of, and barriers to, financial innovation in Australia; how effective the ERS is; and how the ERS could better support financial innovation. The consultation opened on 17 December 2025 and closes on 6 February 2026.