|European Union Electricity Market Glossary|
Regulatory sandboxes provide a scheme to enable firms to test, pursuant to a specific testing plan agreed and monitored by a dedicated function of the competent authority, innovative financial products, financial services or business models.
Sandboxes may also imply the use of legally provided discretions by the relevant supervisor (with use depending on the relevant applicable EU and national law) but sandboxes do not entail the disapplication of regulatory requirements that must be applied as a result of EU law (Report, FinTech: Regulatory sandboxes and innovation hubs, ESMA, EBA, EIOPA, JC 2018 74, p. 5).
The list of European regulatory sandboxes (and links to the relevant websites) is contained in the Annex A to the Report on FinTech: Regulatory sandboxes and innovation hubs (ESMA, EBA, EIOPA, JC 2018 74, p. 40, 41).
|Last Updated on Wednesday, 31 July 2019 09:59|