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Clifford Chance

Clifford Chance


The New Italian Fintech Sandbox Opens

5 October 2022

The Italian securities exchange regulator, Consob; central bank, Banca d'Italia; and insurance regulator IVASS, on 1 October 2021 announced the term during which applications can be filed for admission to the regulatory "sandbox" governed by Ministerial Decree 100/2021, which came into force in July 2021 (the "Sandbox Decree"). The regulatory sandbox is a controlled space that allows financial intermediaries and operators in the fintech sector to experiment with high-technology innovation in the banking, financial and insurance sectors, benefiting from a temporarily simplified legislative framework.

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