FinTech Regulatory Sandboxes Capacity Building Summary Report

Cover_221_EC_FinTech Regulatory Sandboxes Capacity Building Summary Report
Click image to preview

FinTech Regulatory Sandboxes Capacity Building Summary Report

Publication Number

APEC#221-EC-01.2

Published Date

March 2021

Type of Publication

Reports

Publications Under

Economic Committee(EC)

Accessed

791

Pages

44

Download publication

Download

Description

This summary report is aimed at providing an overview from both regulators and the market on (1) the principles of functioning of the APEC FinTech regulatory sandboxes and (2) the impact of sandboxes’ piloting on the market. The study was conducted using two separate questionnaires: one for regulators and one for market participants. The financial regulators and market participants from Chile; Chinese Taipei; Hong Kong, China; Indonesia; Japan; Korea; Malaysia; Mexico; the Philippines; Russia; Singapore; and Thailand took part in the survey.

The report consists of five sections: Section I summarizes the information received from financial regulators on the main characteristics of the sandboxes’ functioning and, based on the APEC economies experience, provides possible steps an economy could refer to in order to set up a fully functional FinTech Sandbox. Section II presents market participants comments on the principles and impact of participating in the piloting. Section III describes the challenges of piloting process. Section IV covers the issue of international cooperation on sandboxes. Section V provides the main conclusions of the study.