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RSB objectives

Globally, an increasing number of regulatory agencies have launched sandboxes. It is important to clarify the objectives of a regulatory sandbox and to distinguish them from private sector innovation facilitation initiatives such as incubators. The objective of the RSB is to provide regulatory clarity to industry and insight to innovation for regulators, to effect policy and regulatory change – where appropriate. The RSB is not intended to promote individual firms nor provide them with business support services such as guidance on business plans. This means that, with limited capacity, the RSB will focus on applications which are most likely to provide insight into innovation and regulatory clarity, and which addresses regulatory or policy focus areas.

Benefits of participating in the RSB

Potential benefits from the RSB include:

• enabling both regulators and financial sector innovators to better understand the potential risks and benefits associated with innovative financial products and services;
• enabling testing the regulatory treatment of innovative business model that does not neatly fit within, or are absent from, existing regulatory frameworks;
• live testing on real customers within a controlled environment, that is, under the watchful eye of regulators and with agreed restrictions, such as approving only a small number of customers per test;
• informing the development of policies and regulations that enable responsible and beneficial innovation in the market;
• facilitating increased innovation in the financial sector to deliver benefits to customers, increase competition and efficiency in the market, and improve access and financial inclusion; and​
• improving regulatory compliance through greater engagement with industry and clarification of regulatory grey areas

​If you are interested in applying to the RSB, please go here or to view firms which are, or have been​ in the RSB, you may do so here​.