On 16 November 2016, the Monetary Authority of Singapore
("MAS") issued new Fintech Regulatory
Sandbox Guidelines (the "Guidelines"),
along with a set of Frequently Asked Questions on the same
("FAQs"). These set out the objectives
and principles behind a regulatory sandbox approach
("Sandbox") for the development and
implementation of financial technology
("FinTech") solutions, and are meant to
provide guidance to interested parties (the
"Applicant") on the application process.
On approval, the Applicant will be responsible for deploying and
operating the Sandbox, with MAS providing the appropriate
regulatory support.
This was first proposed by MAS in a consultation paper published
on 6 June 2016 (the "Consultation
Paper"), which we had reported on earlier in June
2016. After considering feedback received on the Consultation
Paper, MAS has now finalised its policy posture on the FinTech
regulatory sandbox approach, and issued the new Guidelines and FAQs
in
