Regulatory Alerts2023-03-13
Added · Updated
Publication of the Revised MFSA FinTech Regulatory Sandbox Framework
The revised MFSA FinTech Regulatory Sandbox Framework, published on 13 March 2023, restructures the lifecycle into four stages: Proposal, Application, Testing, and Exit. It introduces a simplified testing period limited to six months with a single six-month extension option, replaces the Evaluation Stage with an Evaluation Assessment, and disappplies the discontinuation exit strategy for Technology Providers and Unregulated FinTech Service Providers. The framework updates definitions to include Technology Providers and Unregulated FinTech Service Providers, mandates integrity self-declarations for the latter, and reduces the Proposal Fee to EUR 200 while setting participation fees at EUR 500 per six months for unregulated applicants.
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