Support and Benefits

The sandbox provides a suite of regulatory tools tailored to the specific needs of participants, enabling effective testing while ensuring compliance and consumer protection. The regulators provide regulatory support on a case by case basis after an assessment, depending on the support the participants require to undertake the tests.

Testing Approval Letters (TALs)  are issued to participants at the beginning of the testing phase, outlining the scope, conditions, and duration of the test. TALs provide formal acknowledgement from ECMA that the firm is allowed to conduct tests under specified conditions.
Sandbox participants receive tailored advice on navigating regulatory frameworks, compliance obligations, and risk management, ensuring that they understand and adhere to regulatory expectations throughout the testing process. Ongoing informal interactions with sandbox regulators provide firms with quick and practical insights into regulatory considerations, enhancing their ability to adjust their operations and strategies in real-time.

The ECMA will collaborate with admitted firms to offer regulatory support, facilitating the seamless testing of innovations. The Sandbox will accommodate innovations that may not fully align with current licensing frameworks. Where existing regulatory requirements might hinder innovative testing, the Sandbox will provide flexibility, allowing firms to test innovative solutions without the full burden of regulatory compliance.