MAS Issued Consultation Paper on Proposed Guidelines for Regulatory Sandbox
The Monetary Authority of Singapore (MAS) has issued a consultation paper on proposed guidelines for regulatory sandbox today. The regulatory sandbox will provide a safer environment for allow Fintech companies to test their new financial services in a more relaxed regulatory environment but within a well-defined space and duration. There may be circumstances where it is less clear whether the FinTech offering complies with regulatory requirements or poses unacceptable risks, with the regulatory sandbox, FinTech services can then be assessed on criteria such as innovativeness, and whether they are beneficial to consumers and the industry.
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