FinTech Regulatory Sandbox

FinTech Regulatory Sandbox program allows participants to temporarily test innovative financial products or services on a limited basis without otherwise being licensed or authorized to act under Utah State law. The State of Utah’s Department of Commerce is responsible for applications and provides administrative oversight of the Regulatory Sandbox program.

For further information, please contact:
Bryan Cowley (801) 530-6452 or email


Consideration for admission into the Regulatory Sandbox requires completion of this form in its entirety along with a $500 application fee.

To apply:

  • Download the Application Form save it to your device.
  • Complete the application electronically or print out and complete.
  • E-mail the completed application, along with any other documentation to
    Although electronic applications are preferred, you may mail the documents to:
            Regulatory Sandbox
            c/o Securities Division
            160 East 300 South
            2nd Floor P.O Box 146760
            Salt Lake City, UT 84111

If the form does not allow space to thoroughly answer a question, please provide the answer in a Supporting Document. Each Product or Service sought to be tested requires a separate application, regardless of whether Applicant has submitted other applications.

Once the application is received, the Applicant will receive an email with an application number. The $500 application fee can be paid with a Visa/MasterCard.

The Department of Commerce will review Regulatory Sandbox applications on a rolling, as-received basis and will notify Applicants of a decision regarding entry into the Sandbox within 90 days of receipt of complete application and complete payment of the application fee. This 90-day period may be extended if the Applicant and Department of Commerce mutually agree. Further, the Department of Commerce may request supplementary information after reviewing the initial application submission.

Important notice regarding business confidentiality claims pursuant to the Government Records Access and Management Act: If you wish to make a claim of business confidentiality with respect to any information in this application or with respect to records you provide to the Department, please be aware of the following law: "Any person who provides to a governmental entity a record that the person believes should be protected under 63G-2-305(1) [trade secrets] or (2) [commercial information or nonindividual financial information] or both Subsections 63G-2-305(1) and (2) shall provide with the record: (A) a written claim of business confidentiality; and (B) a concise statement of reasons supporting the claim of business confidentiality."

Questions about the application, or the Regulatory Sandbox should be sent to the Department of Commerce at


Applicant – an individual or entity that is applying to participate in the regulatory sandbox.

Innovation — The use or incorporation of a new or emerging technology or a new use of existing technology, including blockchain 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 department to have a comparable widespread offering in the state.

Participating Personnel — All individuals and entities paid or unpaid that participate directly or indirectly with any aspect related to the regulatory sandbox.  Participating personnel are

  1. primarily responsible for Testing the Product or Service; or
  2. have direct supervisory authority over the staff Testing the Product or Service; or
  3. serves as an officer or director of the business or business unit that is Testing the Product or Service; or
  4. owns directly or indirectly, 15% or more of the Applicant.

Required Records, Documents and Data — Records, documents, data, reports and other recordable pieces of information whether in physical or digital form that is produced in the ordinary course of business and required to be retained by applicant and reported to and made available for inspection by the department.

Regulatory Sandbox — The Regulatory Sandbox Program created by Utah Code Ann. § 13-55-103, which allows a person to temporarily test an innovative product or service on a limited basis without otherwise being licensed or authorized to act under the laws of the state.

Supporting Document — 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 — To provide a product or service in the Regulatory Sandbox in accordance with Utah Code Ann. §13-55-102.

Complete this form truthfully.  False statements or omissions may result in the denial of your application.

Reporting & Notice of Change

As part of the record keeping and reporting requirements of Utah Code Ann. §13-55-108 the Department of Commerce is authorized to establish periodic reporting requirements for Sandbox participants.After admittance, participants will be notified regarding the specific reporting requirements.

If there are substantive changes to information submitted on the original application or a change in ownership or active managers, Participant must complete Notice of Change Form and submit it to the Department of Commerce at

Sandbox Participants

There are currently no sandbox participants.

Laws and Rules

Frequently Asked Questions

Legal Disclaimer: The following FAQs are for informational purposes and not intended to convey legal opinions or advice. Consequently, information contained herein should not be construed as or relied upon as legal advice and does not replace the need for competent legal counsel’s advice specific to your legal matter. FAQs are subject to change without notice.