The Securities and Exchange Commission of Pakistan (SECP) Friday granted approval to various innovative solutions for commencement of live testing and experimentation under its technology driven initiative – Regulatory Sandbox.
The first cohort under the Regulatory Sandbox Guidelines was announced in February 2020, which received immense response from wide range of innovators including well-established entities, foreign companies and start-ups.
Applicants submitted their proposed solutions and business models in regulated sectors of Securities and Exchange Commission of Pakistan i.e. Insurance Sector, Non-Banking Finance Sector, and Capital Markets.
The products and business models approved by the Commission for live testing include digital insurance, digital platform for mutual funds, Roboadvisory and crowdfunding.
Approved applicants will be allowed to operate in a controlled environment for a period of up to six months, in accordance with the conditions and limitations imposed on applicants.