This section details the spectrum of regulatory permissions within the Compliance space
| Permission type | Description |
|---|---|
| Registration | Entity is registered with the relevant authority for AML supervision or tax purposes. |
| License | Entity is licensed by the relevant authority to conduct specific activity within a country. |
| Regulation | Entity is authorised by relevant authority to conduct a regulated activity within a country. These entities are typically supervised from conduct and prudential perspective and subject to more stringent rules. |
| Temporary Exemption | Entity was granted a temporary exemption from obtaining an authorisation to conduct a specific activity. It usually is granted for specific period of time. |
| Sandbox | Entity is operating within a regulatory sandbox, experimenting with new technology in collaboration with authorities. |
| Agent Capacity | Entity is not regulated itself but acts in an agent capacity on behalf of a principal entity. Activities are often limited. |
| Temporary Permission | Entity is temporarily permitted to continue its operations when awaiting in-principal approval. |
| Pre-Approval | Entity has applied for the authorisation which is currently pending approval from relevant authority |
| Member | Entity is a member of a self regulatory organisation |