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Regulatory Sandbox – CySEC

What is CySEC and what does it do?

The Cyprus Securities and Exchange Commission (CySEC) serves as the autonomous public authority, tasked with overseeing the investment services industry, the collective investment and asset management sector, and cryptocurrency-related activities both within and outside the Republic of Cyprus. CySEC aims to transform the Cyprus securities market into one of the world’s most secure, dependable, and appealing investment hubs. 

What is the Regulatory Sandbox? 

The Regulatory Sandbox is a proactive regulatory approach, continuing and transforming the Innovation Hub established in 2018. The Sandbox provides a controlled temporary test environment for fintech start-ups and other entities allowing them to test their products or services in real conditions under the regulator’s supervision. With the Regulatory Sandbox, CySEC’s vision is to create an environment where innovation can thrive, and investor protection is ensured, while fostering the healthy growth of the market. 

Why participate in the Regulatory Sandbox? 

  • Great opportunity for prospective participants to receive constructive feedback and valuable guidance regarding their innovative services or products. 
  • CySEC as the regulator, will closely monitor participants that grant access rights to CySEC. 
  • Investor protection. 
  • It is non-thematic and is open to all types of innovations. 
  • No application or participation fee. 
  • Both authorized and unauthorized entities can apply, considering that the required eligibility criteria are satisfied. 

How many stages does the Regulatory Sandbox entail? 

From an operational perspective, the Sandbox has four phases:  

  • Application Phase,  
  • Preparation phase,  
  • Testing phase, and  
  • Evaluation/Exit phase

How can SALVUS support your Regulatory Sandbox application? 

The SALVUS Regulatory Compliance team is comprised of industry-leading professionals engaged with the application and adherence of varying fintech projects.  

We lead your introduction to the regulator and work in coordination with your team in gathering and completing all the necessary documentation for the submission of a complete and comprehensive application. We further assist you with the fulfilment of all the requirements provided by CySEC. 

Please contact us at info@salvusfunds.com if you wish to learn more about the CySEC Regulatory Sandbox or require support with the completion of the application form.