Chapter III, Article 12 · Commission Implementing Regulation (EU) 2025/1420

Contents

Article 12Risk management#

1.Regulatory sandbox coordinators shall establish the risk management process for the interoperability regulatory sandbox covering the risk management process referred to in Article 12(3), point (d), of Regulation (EU) 2024/903. Regulatory sandbox coordinators shall define, implement, and monitor overarching risk management objectives for the interoperability regulatory sandbox, including specific risk management standards applicable to all projects therein, with due consideration of any mandatory risk management requirements pursuant to other applicable law. Regulatory sandbox coordinators shall ensure effective communication on risk management between participants, competent authorities, and other stakeholders.

2.Regulatory sandbox coordinators shall develop a specific risk management plan for each project that follows the risk management process referred to in paragraph 1.

3.Regulatory sandbox coordinators shall appoint one among them as risk manager for each project. The risk manager shall ensure that the project complies with the specific risk management plan referred to in paragraph 2 of this Article. Where risks are identified, the risk manager shall ensure that appropriate mitigation measures are taken.

4.In the case where appropriate risk mitigation is not feasible, the risk manager may temporarily suspend any project or participant’s involvement within the interoperability regulatory sandbox as an immediate safeguard. The risk manager shall promptly inform the regulatory sandbox coordinators and the relevant authorities. The single point of contact shall report this temporary suspension to the Commission.

5.The risk manager shall maintain records of risk management activities for the respective projects and make those records available for review by all regulatory sandbox coordinators and the Commission.