1. 1. Introduction
This Guidance is issued under section 15(2) of the Financial Services and Markets Regulations 2015 ("FSMR"). It should be read in conjunction with the FSMR and the relevant FSRA Rulebooks where applicable.
The Guidance is applicable to the following Persons:(a) an applicant for a Financial Services Permission to carry on the Regulated Activity of Developing Financial Technology Services within the RegLab in or from ADGM; and/or(b) a FinTech Participant.
This Guidance sets out the Financial Services Regulatory Authority's ("FSRA's" or the "Regulator's") approach to the Regulatory Laboratory ("RegLab") framework. In particular, this Guidance includes the eligibility and authorisation criteria applicants must satisfy to be authorised as FinTech Participants, the authorisation process, the types of restrictions that the Regulator may impose on the FinTech Participants' conduct, as well as the information that FinTech Participants may be required to produce to the Regulator.
This Guidance is not an exhaustive source of the Regulator's policy on the exercise of its statutory powers and discretions. In the discharge of its regulatory mandate, the Regulator may impose other parameters to address any specific risks posed by the proposed activities of the applicant to carry on the Regulated Activity of Developing Financial Technology Services within the RegLab.
The Regulator is not bound by the requirements set out in this Guidance and may waive or modify these requirements at its discretion where appropriate.
Unless otherwise defined or the context otherwise requires, the terms contained in this Guidance have the same meaning as defined in the FSMR and the GLO Rulebook.