The Australian Securities and Investments Commission (ASIC) will work with five regtech startups on technology that can recognize poor market disclosure by listed companies. These startups will receive up to $100,000 in government funding.
This funding is to be put towards a three-month feasibility study. From this, "two of these regtechs may receive further grants of up to $1 million each to develop and test a proof of concept over a further 15 months," ASIC said in a statement.
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