The Dutch Central Bank (DNB) and the Netherlands Authority for the Financial Markets (the AFM) have published a paper describing the next steps in facilitating an adequate supervisory approach towards innovative financial services and activities. One of these steps is the creation of a Dutch regulatory sandbox – an environment in which tailor-made solutions are created in order to safely test innovative products and business models. Furthermore, the DNB and the AFM will facilitate innovative businesses by offering the possibility of partial authorisations and by further exploring the existing options for them to issue authorisations with requirements and to provide businesses with an opt-in banking authorisation. This Legal Alert outlines the core features of the regulatory sandbox and the partial authorisations.
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