Tagged: sandbox

Australia Introduces Legislation Designed to Boost Fintech

The Australian Government has introduced a legislative framework for an “enhanced regulatory sandbox” to enable new Fintech products and services to be tested in Australia. The proposal is designed to extend the scope of activities beyond that of the regulatory sandbox launched by ASIC in… Read More

Arizona AG Mark Brnovich Calls for Creation of Fintech Sandbox

Arizona Attorney General Mark Brnovich has publicly requested the creation of a Fintech Sandbox in his state. Brnovich published his belief in an OpEd for American Banker. Brnovich is of the opinion that Arizona should be the first state to create a Sandbox as it… Read More

Innovation Friendly: Lithuania Seeks to Become Fintech Center as Bank of Lithuania Looks to Launch Regulatory Sandbox

  Lithuania is the latest country joining the Fintech revolution by recognizing the importance of fostering a regulatory environment that is conducive to change and challenges established norms. The Bank of Lithuania is out with a statement regarding the launch of a sponsored Fintech Sandbox…. Read More

US Commodity Futures Trading Commission Launches Major Fintech Initiative: LabCFTC

The US Commodity Futures Trading Commission (CFTC) will embark on a “major Fintech initiative” with the creation of LabCFTC. The venture was launched to promote responsible Fintech innovation and to encourage competition in the markets the CFTC oversees. “Simply put, LabCFTC is intended to help… Read More

Singapore on Regulating Fintech: “Financial Regulators Should not be Afraid to Work Collaboratively”

This is a special time of the year in Washington, DC. It is the annual Spring Meetings of the IMF and World Bank meaning a diverse group of policymakers and regulators descend upon the US Capitol clogging restaurants and over-booking hotels. This also means there… Read More

FCA: It is Our Job to Provide the Conditions that Simplify Regulatory Complexities & Give Space for Firms to Innovate

Christopher Woolard, Executive Director of Strategy and Competition at the FCA, delivered a Keynote address today at the Innovative Finance Global Summit 2017. Woolard, the FCA’s champion for competition and thus a champion for consumers, delivered an important message regarding their regulatory mission: “It is… Read More

Innovate Finance Shares Findings from UK Fintech Sandbox

Innovate Finance has published a “Sandbox Consultation Finding Preview in concert with the Financial Conduct Authority (FCA). The release took place as Innovate Finance opened its Global Summit 2017. The FCA invited Innovate Finance , a public-private partnership seeking to boost Fintech innovation, to chair an… Read More

Canadian Securities Administrators Launch Fintech Sandbox

The Canadian Securities Administrators (CSA) has launched a bespoke Fintech regulatory sandbox. The CSA described the Sandbox as an initiative that supports businesses seeking to offer innovative products, services, and applications. “The objective of this initiative is to facilitate the ability of those businesses to… Read More

China: WeiyangX Fintech Review

Hong Kong Securities & Futures Commission Joins R3 Blockchain Consortium The Hong Kong Securities and Futures Commission (SFC) announced it had joined the R3 blockchain consortium. Through this partnership, SFC will test applications of blockchain on record and settlement of securities and futures trading with the… Read More

Singapore Has Just Published a Document on their Next Phase of Growth & Fintech /Alternative Finance Plays a Big Role

Singapore’s Committee on Future Economy (CFE) has identified seven strategies for Singapore’s next stage of growth in its report. Singapore has experienced an enviable period of economic growth and prosperity. The island city-state tmaintains one of the highest standards of living in the world. The… Read More

OCC Fintech Charter: We Need a Government that Embraces Financial Innovation

The Office of Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was created by the National Currency Act of 1863 (154 years ago, 20 years before the automobile was invented by Karl Benz from Germany)…. Read More

Will the UK Retain the Fintech Crown? Gillian Roche Saunders Provides Unique Update on Regulatory Review & UK Fintech Ecosystem

The United Kingdom has dominated the Fintech sector globally.  Starting with innovations in capital formation from crowdfunding and peer to peer lending platforms, the UK has fostered an impressive ecosystem of Fintech entrepreneurs. While a culture of innovation and risk-taking has been vital to this… Read More

SEC Commissioner Piwowar: “The Great Potential of Fintech Should Not Be Hindered by Our Current Regulatory Structure”

As a growing number of nations around the globe embrace the potential of Fintech to provide superior services to consumers, businesses and the under-banked, one country stands out as lacking in leadership in the evolution of finance. The US has been the epicenter of financial… Read More

Here is the MAS Response to Feedback for the Fintech Sandbox Guidelines

While the UK has been the trailblazer in the creation of the concept of a regulatory Sandbox for innovative financial firms, the rest of the world has seen the light and moving forward with their own Fintech Sandbox structures. The UK understood that rule written… Read More

Monetary Authority of Singapore Issues Fintech Sandbox Guidelines

The Monetary Authority of Singapore (MAS) has published its Fintech “regulatory sandbox” guidelines. The intent is to encourage and enable experimentation of solutions that leverages technology innovatively to deliver improved financial products and services to both consumers and businesses. The Sandbox guidelines have incorporated feedback… Read More

First Class: FCA Reveals 24 Fintech Firms Accepted into Regulatory Sandbox

  The Financial Conduct Authority (FCA) has revealed the first group of Fintech firms accepted into their innovative regulatory Sandbox initiative.  The FCA said that 69 Fintech firms applied for the opportunity to participate but 24 firms were deemed acceptable. Most of these companies will… Read More

InvestHK Creates Dedicated Team to Help Fintech Startups Come to Hong Kong

2016 is the Year of Fintech in Hong Kong Hong Kong is on the growing list of countries that see Fintech as strategically important for their regional economy and global competitiveness. This past week, in a speech delivered in New York City, Hong Kong Financial… Read More

Status Quo is Not an Option: OSC Chair Acknowledges Fintech Requires New Approach, Announces OSC Launchpad

Speaking at the Toronto Region Board of Trade this week, Maureen Jensen, Ontario Securities Commission (OSC) Chair and CEO, delivered a wide-ranging keynote address that tackled the topic of Fintech, regulations and announced a forthcoming regulatory Sandbox for entrepreneurs. Jensen acknowledged the rise of Fintech… Read More

Everybody’s Doing It: Bank Indonesia to Launch Fintech Regulatory Sandbox

Bank Indonesia (BI) recently announced 5 new initiatives regarding the payment system – a hot sector of financial services. Within these five strategic objects was Financial Technology or Fintech. Bank Indonesia, the central banking authority of the 4th most populous country in the world stated;… Read More

Competition Counts & the UK FCA Leads the Way in Regulatory Innovation

The United Kingdom has been at the forefront of Fintech innovation. While there are many reasons for the UK playing a lead role in new forms of finance several variables may be distilled from the list. First, the country is very supportive of an entrepreneurial/market-based… Read More