FinTech
Regulatory Sandbox

A regulatory environment where FinTech operators may test their innovation for a specified period of time within the financial services sector under certain prescribed conditions.
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FinTech Regulatory Sandbox

Overview
The MFSA FinTech Regulatory Sandbox (‘the Sandbox’) will provide a regulatory environment for FinTech operators to test their innovation for a specified period of time within the financial services markets, under certain prescribed conditions.
This initiative aims to encourage innovation in a sustainable manner whilst offering true value and protection to consumers of financial services. It will also act as an enabler to enhance legal certainty within the market and encourage knowledge sharing through collaboration and open dialogue.
Scope and Eligibility
The Regulatory Sandbox welcomes start-ups, technology firms and established financial services providers which endorse technologically-enabled financial innovation in their business models, applications or products.
Proposed solutions should be innovative and technologically-enabled, demonstrating a genuine need for testing within a controlled environment so that any inherent regulatory gaps and risks are identified.
Additionally, the solution must have identifiable benefits to consumers and be ready for testing with adequate resources to operate for a minimum of one year.
A valuable tool for both established financial services providers and new entrants

Regulatory Sandbox
General Overview

The Sandbox is a regulatory environment, where FinTech operators may test their innovation for a specified period of time within the financial services sectors. The aim is to support sustainable financial innovation, ensure regulatory certainty and promote knowledge sharing. These are the objectives of the Regulatory Sandbox.
Innovation
The Sandbox will provide a regulatory environment allowing technologically enabled financial innovation – new business models, applications, processes or products – to operate within the financial services market.
Sustainability
Through close dialogue, the MFSA will be monitoring Participants to observe whether their innovations truly offer value to the consumer and the wider financial services sector, whilst ensuring consumer/investor protection, market integrity and financial soundness.
Certainty
The Sandbox will enhance legal certainty within the financial services market as it provides both the Participants and the MFSA with the space to determine the appropriate requirements under the applicable regulatory frameworks.
Knowledge
Through collaboration with Participants, the MFSA will have the opportunity to enhance its capacity in assessing the regulatory implications and gaps of such solutions, and identify the appropriate response as necessary.
For a detailed understanding of the Regulatory Sandbox..
Regulatory Sandbox
Scope and Eligibility Criteria

The Sandbox is open to all persons wishing to explore technology-enabled financial innovative solutions which could result in new business models, applications, processes or products with an associated material effect on financial markets and the provision of financial services subject to the fulfilment of four (4) eligibility criteria. Such persons may be Regulated or Unregulated FinTech Service Provider, or Technology Providers.
Regulatory Sandbox
Online Proposal Form

The Applicant shall submit its Proposal to the Authority through the online proposal form which will be considered by the Authority during Selection Stage in order to determine whether the Applicant falls within the scope and whether the Applicant and its Solution meet the requirements and eligibility criteria
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Publications
Sandbox Rule 3
FAQs
FAQs
Here you will find frequently asked questions, intended to provide answers to your potential questions regarding the Regulatory Sandbox.
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