null Exposure Draft on Financial Technology Regulatory Sandbox Framework
Exposure Draft on Financial Technology Regulatory Sandbox Framework
30 Mar 2023 | Thursday Source: Bank Negara Malaysia
This exposure draft sets out the Bank Negara Malaysia’s (the Bank) proposal to issue a new Financial Technology Regulatory Sandbox Framework (Framework) policy document, which contains enhancements to the policy document of the same name issued on 18 October 2016 [BNM/RH/PD 030-1]. The enhancements are focused at ensuring proportionate regulatory facilitation and improving operational efficiency of the existing sandbox procedures through:
- simplifying the sandbox’s Stage 1 (eligibility) assessment; and
- introducing an Innovation Green Lane, which aims to provide a risk-proportionate and accelerated pathway for innovative solutions by financial institutions with strong risk management capabilities.
Bank Negara Malaysia invites written feedback on the proposals in this exposure draft, including suggestions on areas to be clarified and alternative proposals that the Bank should consider. The written feedback should be supported with clear rationale, accompanying evidence or appropriate illustrations to facilitate an effective review of this exposure draft.