MNI INTERVIEW: Brexit Openings For Aussie Financial Firms-Hume

--Australian Minister Sees Opportunities For Funds, Fintech

By Lachlan Colquhoun

     SYDNEY (MNI) - Already-strong links between the UK and Australian financial

sectors could be improved by "more regulatory alignment" to enable products such

as managed funds to be sold across jurisdictions, Australia's Assistant Minister

for Superannuation Jane Hume told MNI, adding that Brexit will present "enormous

opportunities" for Australia's financial services sector.

     Ongoing Australia-UK Free Trade Agreement talks could see the 2019

UK-Australia Fintech Bridge replicated in other areas of financial services,

enabling cross-border marketing and transactions, Senator Hume said in an

interview.

     Australia is participating in the Asia Region Funds Passport with four

neighbouring countries, and Hume said she would welcome discussions towards a

potential similar arrangement with the UK.

     "Obviously I can't speak now for the Trade Minister, but I would support

discussions around some of these ideas," Hume told MNI.

     She said the government supported the further development of Australian

financial services into "a truly global export" both to the UK and Asia.

--MNI London Bureau; +44 203 865 3829; email: jason.webb@marketnews.com

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