Menu

Search

  |   Fintech

Menu

  |   Fintech

Search

Monetary Authority of Singapore publishes ‘regulatory sandbox’ guidelines for fintech

The Monetary Authority of Singapore (MAS) has issued its ‘regulatory sandbox’ guidelines for fintech, in order to encourage and allow experimentation of solutions that utilize technology innovatively to deliver financial products or services.

The regulatory sandbox guidelines is framed by incorporating feedbacks from the public consultation as well as learning points from actual sandbox applications. It aims to enhance the clarity, flexibility, and transparency of the regulatory sandbox, the official release mentioned.

“Emerging financial products or services that utilise FinTech are becoming more sophisticated. The guidelines reflect MAS’ commitment to building a smart financial centre where innovation is pervasive and technology is used widely. The regulatory sandbox provides a conducive environment where regulatory requirements will be relaxed to enable firms to experiment with promising innovations within boundaries,” Jacqueline Loh, Deputy Managing Director of MAS, said.

The guidelines provide improved clarity by including examples and elaborations to illustrate MAS’ expectations on the sandbox, like the evaluation criteria for entry into the sandbox. It will also allow greater flexibility for firms looking to enter a sandbox, and allowing room for adjustments during experimentation as firms learn from market responses.

The fintech regulatory sandbox guidelines will demonstrate increased transparency by working closely with sandbox applicants in the evaluation and experimentation process. MAS will soon be publishing the relevant information of approved sandbox applications.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

2019-07-02 15:32:08
0m
2019-07-02 15:32:02
0m
2019-07-02 15:30:39
0m
2019-07-02 15:30:27
0m

July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 764679764679m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 764679764679m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 776499776499m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 764679764679m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 776499776499m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 764679764679m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 764679764679m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 764679764679m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.