1. This chapter sets out the DFSA's approach to dealing with businesses that wish to test innovative financial technology (Fintech) in or from the DIFC. In particular, it sets out how the DFSA will consider using its powers to waive or modify Rules for businesses that are testing innovative Fintech.
2. In this way the DFSA may create a simplified regulatory framework tailored to the specific Fintech business proposal. This will allow the business operator (the Fintech Operator) to test innovative products, services and business models without having to comply with Rules that may be inappropriate or disproportionate given the innovative nature of the business and that it is only at a testing stage.
3. The DFSA would however expect a Fintech business, once it is fully operational, to be able to comply with all relevant Rules applicable to the type of activities it carries on.
Derived from DFSA GMI11/2017 (Made 24th May 2017) [VER39/05-17]