To the Sandbox managed by Consob - in coordination with the FinTech Committee, the Bank of Italy and IVASS (which activate the Sandbox for the areas of respective competence) - can participate projects concerning:
- activities subject to authorization or entry in a record, list or register kept by Consob (e.g. provision of investment services and management of crowdfunding portals);
- activities that would be subject to authorization or registration in a record, list or register held by Consob, but which fall within a case of exclusion provided for by law, including cases in which the activity is not carried out towards the public or is carried out in relation to a limited public pursuant to the law;
- activities affecting regulated areas carried out by outsourcers in favor of subjects supervised or regulated by Consob;
- activities affecting regulated areas carried out by a subject supervised or regulated by Consob (e.g. an Italian Investment Firm-SIM, a bank for the areas relating to the provision of investment services supervised by Consob, a manager of crowdfunding portals, a listed issuer, a manager of UCITS, a manager of regulated markets, etc.).