Page 40 - 期貨和衍生品行業監管動態（2025年10月）
P. 40
期貨和衍生品行業監管動態
Question
To ask the Prime Minister and Minister for Finance (a) since 2016, how many
entities have joined one of MAS' regulatory sandboxes, broken down by the three
sandbox categories; (b) what is the median processing time for applications; (c) how
many entities obtained a relevant licence after graduation; and (d) how many have
ceased operations in Singapore at the end of September.
Answer by Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade
and Industry, and Chairman of MAS:
The breakdown across each of the three categories is as follows:
Sandbox Type Approvals
Regulatory Sandbox 13
Sandbox Express 6
Sandbox Plus 0
Some applicants were not accepted into the Sandbox as existing regulatory
frameworks already allowed for their business models to operate. For Sandbox Plus,
there were no approvals so far as most applications received were based on
technologies and solutions that already exist in Singapore.
The median processing time for Sandbox applications, from submission to
outcome notification, is around 3 months. This includes the time taken for applicants
to respond to MAS’ clarifications. Of the 19 firms accepted into the Sandbox, 15
firms have successfully graduated from the Sandbox and obtained relevant licences to
operate as fully regulated financial services providers in Singapore. One firm that had
graduated from the Sandbox ceased operations.
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