Text of Australian Securities and Investments Commission (ASIC) Regulatory Guide 257 which explains the options FinTech businesses have for testing products and services without a license, the basis for which is sometimes referred to as Australia's FinTech Regulatory Sandbox.
"This is a guide for financial technology (fintech) businesses seeking to test products and services before they obtain an Australian financial services (AFS) licence or Australian credit licence (credit licence). We explain the options available for testing without a licence. This can occur where: there are existing statutory exemptions or flexibility in the Corporations Act 2001 (Corporations Act) and National Consumer Credit Protection Act 2009 (National Credit Act); the business can rely on ASIC’s relief under ASIC Corporations (Concept Validation Licensing Exemption) Instrument 2016/1175 or ASIC Credit (Concept Validation Licensing Exemption) Instrument 2016/1176 for testing certain specified products and services; or for other services, ASIC grants individual relief. All of these measures collectively form Australia’s ‘regulatory sandbox’ framework."