RHTLaw Taylor Wessing advised Kristal Advisors on its sandbox testing period with the Monetary Authority of Singapore

RHTLaw Taylor Wessing advised Kristal Advisors on its sandbox testing period with the Monetary Authority of Singapore

RHTLaw Taylor Wessing advised Kristal Advisors (SG) Pte Ltd (Kristal Advisors), a wealth management company that specialises in providing Artificial Intelligence (AI) based advisory solutions, in its sandbox with the Monetary Authority of Singapore (MAS).

Kristal Advisors received approval from the MAS to experiment in a sandbox on 10 August 2017. RHTLaw Taylor Wessing advised Kristal Advisors on its sandbox testing period, providing assistance with the regulatory process, documentation, and advocating in front of the MAS.

Only two companies have been granted a sandbox period from MAS till date, and RHTLaw Taylor Wessing has advised both on their sandbox testing period. Singapore-based digital insurance broker PolicyPal is the only other company that has entered the MAS’ fintech regulatory sandbox.

Kristal Advisors will have a sandbox period of nine months until 10 May 2018, during which it will be testing the provision of its digital advisory services. It can service both accredited and retail clients within its sandbox period.

Head of Regulatory Practice Nizam Ismail and Corporate Partner (Foreign Lawyer) Mark Jacobsen led this transaction.