ITA Consob Fintech Sandbox Update

Published on: Apr 7, 2025

On Apr. 1, ITA Consob announced MEF's public consultation on it.

  • ITA Consob announced MEF public consultation is now underway and aims to simplify access to sandbox and promote responsible innovation in digital finance.
  • Follows ITA GVT, ITA CB, Consob Jul. 2021 said sandbox decree in force, see #111375.
  • Overview
  • Consultation now open on new draft MEF Regulation aimed at simplifying the selection process and access to Fintech experimentation (so-called regulatory sandbox), with the aim of promoting responsible innovation in digital finance.
  • Text drafted within Fintech Committee, after technical discussion with supervisory authorities of financial system (ITA CB, ITA Consob and ITA INS).
  • To replace MEF decree 100 of Apr. 2021, implementing art 36 LD 34/2019, converted.
  • The new scheme introduces 3 types of experimentation (in real, predefined, simulated environments), modulating applicable discipline and documentary burden required of participants following a logic of proportionality.
  • Effectiveness
  • The consultation, managed by the Treasury Department, closes on May 16, 2025.
Regulators
ITA Consob; ITA GVT
Entity Types
B/D; Bank; Corp; Ins; Inv Co
Reference
CP, PR, 4/1/2025; Decree 100/2021
Functions
Compliance; Financial; Legal; Operations; Product Design; Registration/Licensing; Technology
Countries
Italy
Category
State
N/A
Products
Banking; Corporate; Fund Mgt; Insurance; Securities
Rule Type
Proposed
Regions
EMEA
Rule Date
Apr 1, 2025
Effective Date
May 16, 2025
Rule ID
249496
Linked to
Rule :111375
Reg. Last Update
Apr 1, 2025
Report Section
EU