Dubai FSA Invites Applications for Regulatory Sandbox Winter Cohort

By Regulatory News

October 09, 2019

Dubai FSA is inviting applications from local and international firms to apply to join the 2020 regulatory sandbox Winter cohort. Firms must provide a clear explanation of their planned business model and the proposed innovative product or service. Firms can apply between November 01, 2019 and November 30, 2019. Firms accepted into the Winter Cohort will be announced on December 16, after which they are required to submit an Innovation Testing License (ITL) application by January 17, 2020.

The ITL Program enables firms to test innovative solutions in and from the Dubai International Financial Center or DIFC. Since the inception of the ITL Program in 2017, Dubai FSA has accepted 20 companies into the cohort process, representing diverse business models from across the world. Such diverse business models included digital Sukuk issuances using smart contracts, tokenized securities and debt offerings, tokenized crowdfunding, and the use of artificial intelligence in credit analysis. The program provides firms with temporary flexibility to test and develop concepts within a test environment without being subject to the full suite of regulatory requirements that normally apply to regulated firms.

Related Link: Press Release

Keywords: Middle East and Africa, Dubai, Banking, Artificial Intelligence, Fintech, Regulatory Sandbox, Regtech, Dubai FSA

Bank of Finland Publishes Validation Checks for AnaCredit Reporting

CPMI-IOSCO and FSB on Governance Arrangements for OTC Derivatives


News EU Amends IFRS 9 Rule, Changes Concern Interest Rate Benchmark Reforms EU published Regulation 2020/34 regarding the International Accounting Standard (IAS) 39 and International Financial Reporting Standards (IFRS) 7 and 9. January 16, 2020 WebPage Regulatory News
News FDIC and OCC Issue Statement on Heightened Cyber Security Risk In response to the heightened cyber-security risk facing the financial services industry and other critical business sectors, FDIC and OCC issued an interagency statement on heightened cyber-security risk. January 16, 2020 WebPage Regulatory News
News BCRA Updates Regulation on Capital Requirements and Information Regime BCRA updated the rules on minimum capital requirements for financial entities and on certain aspects of the information transparency regime for quarterly and annual supervision. January 16, 2020 WebPage Regulatory News
News BoE and FCA Outline Next Steps for LIBOR Transition in 2020 BoE, FCA, and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) have published a set of documents that outline the LIBOR transition priorities and milestones for 2020. January 16, 2020 WebPage Regulatory News
News BIS to Expand Central Bank Membership BIS is to expand its central bank membership base and to increase collaboration in its work as a forum for international cooperation and as a hub for central banks and other financial authorities. January 14, 2020 WebPage Regulatory News
News EIOPA Issues Technical Specifications for Market and Credit Risk Study EIOPA published the technical specifications, including instructions, for the market and credit risk modeling comparative study for year-end 2019. January 13, 2020 WebPage Regulatory News
News FED Publishes FAQs on Tailoring Rules for Banks FED released a letter announcing the publication of an initial set of frequently asked questions (FAQs) in response to questions from institutions. January 13, 2020 WebPage Regulatory News
News IA of Hong Kong Publishes Stress Testing Scenarios in Relation to ORSA IA of Hong Kong published the prescribed scenarios for stress and scenario testing to be used by the authorized insurers conducting general insurance business. January 13, 2020 WebPage Regulatory News
News FDIC Letter on Submission of Call Reports by End of January 2020 FDIC, in a letter to financial institutions, announced that the Consolidated Reports of Condition and Income (Call Reports) for the December 31, 2019 report date must be submitted to the Central Data Repository of the relevant US agencies by January 30, 2020. January 13, 2020 WebPage Regulatory News
News EBA Consults on Calculation of Own Funds Requirements for Market Risk EBA is consulting on the draft regulatory technical standards for calculation of the own funds requirements for market risk, under the standardized and internal model approaches of the Fundamental Review of the Trading Book (FRTB) framework. January 13, 2020 WebPage Regulatory News

RESULTS 1 - 10 OF 4490