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Enhanced regulatory sandbox

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The Australian Government's enhanced regulatory sandbox (ERS) allows individuals and businesses to test innovative financial services and credit activities.

ERS participants do not need an Australian financial services (AFS) licence or an Australian credit licence while they are testing their product or service. You can check the public register to see if a person or business is using the ERS exemption.

If you get financial services or buy a financial product from an ERS participant, they must give you the relevant disclosure documents. A Statement of Advice (SOA) or a product disclosure statement (PDS), for example. Responsible lending obligations also apply.