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Regulatory Sandbox
Application Form

Application Form

REGULATORY SANDBOX APPLICATION

Fill in all fields to go to the next step

Contact
Profile
Proposition
Relief
Test Plan
Submit

Contact Information

Step 1 - 6

Name of organisation Address Name of authorised organisational representative Title of organisational representative Contact number Alternative contact number Email Business website URL

Organisational Profile

Step 2 - 6

Organisation registration number

Country of incorporation

Year of incorporation

Organisational maturity

Organisational size

Name of the CEO

Names, titles and organisational affiliations of Directors of Board (if applicable)

Name	Title	Organisational affiliations	Action

Primary country of business operations

Primary financial sector activity of the organisation

What is the primary sector activity for the sandbox application

Provide a brief description of your organisation's core activities

Provide information of the organisation's authorised regulatory status (in South Africa or internationally)

Have you previously participated in a Regulatory Sandbox in a different jurisdiction?

Please provide the details of your previous Sandbox participation:

Have you previously participated or are you currently participating in an incubator or accelerator programme?

Please provide the details of your incubator or accelerator programme participation:

How did you hear about the IFWG's Regulatory Sandbox?

Please specify how you heard about us

If from the IFWG's Regulatory Guidance Unit, please provide the reference number used in your interaction

Have you previously communicated with any South African regulators concerning your proposition?

Please provide a summary of the communications

Proposition

Step 3 - 6

Provide a description of the proposed financial product or service to be tested in the Sandbox, including:

Type of innovation being tested
Current stage of development
What makes your proposition different from other products or services in the market

A business plan and/or pitch deck may be submitted with your application to provide additional information.

Please note that you may upload of up to 20 MB size limit
Should you require to provide files of more than that limit, please email them to us. After submitting you will be provided with a reference number and an email address that you can use for this purpose.

Explain the expected benefits of the proposition to consumers or the broader market

Provide a summary of the risks associated with the proposition and how you propose to mitigate those risks within the Sandbox testing environment

Provide an assessment of the suitability of the proposed financial product or service for the South African market

Is there any partners that are required to complete the proposed testing?

Please provide the names and contact information of any partners required to complete the proposed testing, as well as a description of their role in the proposed testing and existing or required contractual agreements

Full Name	Role	Contact Info	Contractual Agreements	Action

Indicate how the proposition addresses the regulatory objectives or focus areas as listed on the Sandbox website or as confirmed through discussion with the relevant regulators (who may be approached, for instance, through the Regulatory Guidance Unit)

Required Regulatory Relief

Step 4 - 6

Is your business currently regulated by any authorities?

Please list the regulated activities, applicable regulatory authority and related legislation

Activity	Regulatory Authority	Legislation	Action

Does anything in the current regulatory framework prohibit operations of the proposition?

Please elaborate on the framework prohibiting operations of the proposition

Does the proposition require a regulatory authority to provide specific regulatory relief (e.g exemption) for testing in the Sandbox?

Please provide a description of the required regulatory relief, including:

Citation of the legislation
Relevant regulatory authority

Relief Description	Regulatory Authority	Citation of legislation	Action

Have you previously sought legal advice on the proposition?

Please provide a summary of the legal opinion received from a qualified legal practitioner

Test Plan

Step 5 - 6

What is being proposed for testing in the Sandbox?

What is the objective of the testing?

What is the proposed timeline and associated milestones for the 6-month Sandbox testing period?

What type of customers will participate in the test?

How will these customers be identified?

What is your plan to notify these customers of the nature of testing in the Sandbox?

How will you measure success of testing in the Sandbox?

In the event that the testing proves successful, please elaborate on the next steps

In the event that the testing proves unsuccessful, or the proposition proves unviable in the market, please elaborate on your proposed exit plan including notification of and, if required, compensation to customers.

Submit

Step 6 - 6

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