Wednesday , June 23 2021

Sebi revises objective, eligibility criteria of innovation sandbox

In order to encourage innovation and boost participation, markets regulator Sebi on Tuesday revised the objective and eligibility criteria of its innovation sandbox with graded entry norms.
In addition, a steering committee comprising representatives from the enabling organisations has been formed to drive the innovation sandbox, the Securities and Exchange Board of India (Sebi) said in a circular.
The committee would supervise the operations of the innovation sandbox. Also, it would process the applications submitted by sandbox applicants and approve or reject applications and assign lead enabling organisations.
Such lead enabling organisations would be responsible for onboarding the applicant post approval of the application and monitoring the applicant throughout the lifecycle of the sandboxing, the regulator noted.
Innovation sandbox facilitates access to an environment (testing facilities and test data) provided by enabling organisations like stock exchanges, depositories andIn order to encourage innovation and boost participation, markets regulator Sebi on Tuesday revised the objective and eligibility criteria of its innovation sandbox with graded entry norms.
In addition, a steering committee comprising representatives from the enabling organisations has been formed to drive the innovation sandbox, the Securities and Exchange Board of India (Sebi) said in a circular.
The committee would supervise the operations of the innovation sandbox. Also, it would process the applications submitted by sandbox applicants and approve or reject applications and assign lead enabling organisations.
Such lead enabling organisations would be responsible for onboarding the applicant post approval of the application and monitoring the applicant throughout the lifecycle of the sandboxing, the regulator noted.
Innovation sandbox facilitates access to an environment (testing facilities and test data) provided by enabling organisations like stock exchanges, depositories andRead MoreMarkets

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