69V-559.200. Operation of the Financial Technology Sandbox

In accordance with Section 559.952(6)(c), F.S., the Office may enter into an agreement with a state, federal, or foreign regulatory agency to allow licensees under the Financial Technology Sandbox to make their products or services available in other jurisdictions. The agreement shall be in the form of a mutually agreed Memorandum of Understanding which includes at a minimum: (1) The terms by which a licensee may offer its products or services in such jurisdiction so long as it holds an active sandbox license in this state; (2) Any restrictions imposed on the licensee by the state, federal, or foreign regulatory agency; (3) The effective date and expiration date of the agreement; (4) Identification of the licensee’s information maintained by the Office that may be shared with the state, federal, or foreign regulatory authority; (5) A statement that the state, federal, or foreign regulatory authority has sufficient public records exemptions to protect the licensee’s information consistent with Section 559.952(5)(h)1., F.S.; and (6) The name, address, telephone number, and email address of contact person for both parties for questions related to the agreement.