Fintech Sandbox Application

  •  

Instructions:

To be considered for admission to the Sandbox, Applicants must complete the application form in full and pay the $500 application fee.  To submit, either upload the completed application along with any other documentation on this webpage or mail the documents to the address listed below: 

 

                        Fintech Sandbox

                        c/o Civil Litigation Division

                        2005 N Central Ave.

                        Phoenix, AZ 85004

 

If there is not enough room to answer a question on the form, please provide the answer in a Supporting Document.  Each Product or Service sought to be Tested requires a separate application, irrespective of whether the Applicant has submitted other applications.      

 

Once the application is received, the Applicant will receive an email with an application number and instructions for paying the application fee.  The $500 application fee can be paid either by phone with a Visa/MasterCard or by check (cashier’s check required for Applicants located outside the United States).

 

The Attorney General’s Office will review Sandbox applications on a rolling, as-received basis and will notify Applicants of a decision regarding entry into the Sandbox within 90 days of receiving a complete application and payment of the application fee.  This 90-day period may be extended if the Applicant and Attorney General’s Office mutually agree.  Additionally, the Attorney General’s Office may request supplementary information after reviewing the initial application submission.

 

Pursuant to Arizona Revised Statutes § 41-5610, information and records submitted with this application are not public records and will be disclosed by the Attorney General’s Office only with the Applicant’s permission or as authorized by § 41-5610.

 

FAQs are available on our website at https://www.azag.gov/fintech.  Any questions about the application, or the Sandbox more generally, should be sent to the Attorney General’s Office at sandbox@azag.gov.

Definitions:

“Active Manager” means any individual or entity, paid or unpaid, that:  (i) is primarily responsible for Testing the Product or Service; (ii) has direct supervisory authority over the staff Testing the Product or Service; or (iii) serves as an officer or director of the business or business unit that is Testing the Product or Service.

 

“Applicant” means the individual or entity seeking admittance to the Sandbox through this application.

 

“Innovative” means using or incorporating new or emerging technology or reimagining uses for existing technology to address a problem, provide a benefit or otherwise offer a product, service, business model, or delivery mechanism that is not known by the Attorney General to have a comparable widespread offering in Arizona.

 

“Key Personnel” means all individuals and entities that:  meet the definition of an Active Manager; or own, directly or indirectly, 15% or more of the Applicant.

 

“Product or Service” means the specific financial product or service the Applicant seeks to Test in the Sandbox.

 

“Required Records, Documents, and Data” means all records, documents, data, memos, reports, and any other recordable piece of information, whether in physical or digital form, relating to the Product or Service, dating from the time this application is submitted to the time of the Applicant’s exit from the Sandbox.

 

“Sandbox” means the Regulatory Sandbox Program established by Chapter 55 of Title 41 of the Arizona Revised Statutes.

 

“Supporting Document” means any document, record, or other piece of information, whether in physical or digital form, that may aid in providing the information sought in this application.

 

 “Test” or “Testing” means to provide a Product or Service in the Sandbox as allowed by Chapter 55 of Title 41 of the Arizona Revised Statutes.

 

“You” or “Your” means the Applicant.


Application:

Final Application PDF


Application Submission Form

 

Contact Info
Upload requirements