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Parliamentary questions
PDF 186kWORD 19k
8 May 2018
E-002532-18
Question for written answer E-002532-18
to the Commission
Rule 130
Sorin Moisă (PPE)

 Subject:  Size and structure of regulatory sandboxes
 Answer in writing 

In March this year, the Commission launched the FinTech Action plan(1) and announced its intention to present a best practice guide on regulatory sandboxes, based on guidance from European supervisory authorities.

A sandbox is defined by the Commission as ‘a safe and controlled space where companies can test innovations in the market, with or without regulatory relief’(2). The UK, Hong Kong, Canada, Australia, Malaysia and Singapore are among the early adopters of the idea, and have all structured their regulatory sandbox environments in line with their specific needs. The UK’s latest ambition, for example, is to create a regulatory sandbox with a global reach(3).

1. Is the Commission considering lessening the requirements linked to major European legislation?

2. Can it offer examples?

3. Is the Commission considering any quantitative limitations for regulatory sandboxes in the EU, such as on the size of companies, and the maximum number of clients or participants?

(1)https://ec.europa.eu/info/publications/180308-action-plan-fintech_en
(2)http://europa.eu/rapid/press-release_MEMO-18-1406_en.htm
(3)https://www.fca.org.uk/firms/regulatory-sandbox/global-sandbox

Last updated: 23 May 2018Legal notice