BCB Establishes Committee to Oversee Regulatory Sandbox Operations

BCB published Resolution No. 77 to establish a Strategic Management Committee for the Regulatory Sandbox. The Committee comprises seven members and will make decisions on the projects submitted to the regulatory sandbox. The Committee will select and classify the projects that are candidates for participation in the regulatory sandbox and authorize their participation, following the parameters established in the regulations in force. The Committee will also request and receive, at any time, complementary information on projects that enroll in the regulatory sandbox, either at the selection and classification stages or in the operation of the project in the regulatory sandbox. It will decide on the cancellation of projects and the need to adopt or change technical, operational, or business requirements for the selected projects as well as the organizational requirements of the participants. It will also communicate to the BC Collegiate Board of Directors about the performance of the ongoing projects.