Because the Express route comprised standard disclosures and pre-determined rules, it would be more suitable for trials where risks were low and well understood by the market, MAS said. These product tests also should be "reasonably managed" within pre-defined parameters, it added. The new Express option initially would be available only to insurance brokers, recognised market operators, and remittance businesses, with each sandbox running within pre-defined boundaries, regulatory reliefs, and expectations. Approved applicants must adhere to all stated conditions, including providing "clear and proper disclosure" to customers and submitting progress reports to MAS every two months from the start of the approved period.

https://www.zdnet.com/article/singapore-eases-approval-process-for-fintech-trials-unveils-cybersecurity-rules/