SEC's fintech regulatory sandbox

OUR Securities and Exchange Commission is now open to developing the financial technology industry and adopting the latest innovations in this industry in the Philippines. In April this year, the SEC, through its newly established PhiliFintech Innovation Office , issued one of its pioneering regulatory issuances: Memorandum Circular 9, Series of 2024, establishing a regulatory sandbox framework for financial products and services.

Importantly, upon graduation from the regulatory sandbox, the SEC will provide mechanisms to allow graduate companies to seamlessly offer their products or services from the sandbox to the public.Interested companies must submit documentary requirements, including the application form, the company profile, and the proposed testing plan, and pitch their proposed fintech business models in a 'Present Me Anything' session with the PIO.

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