North Carolina Innovation Council Elects New Leadership And Will Hire Executive Director To Manage Regulatory Sandbox Operations

North Carolina Innovation Council elects new leadership and plans search for Executive Director to manage regulatory sandbox operations.

CHARLOTTE, N.C., May 13, 2024 /PRNewswire-PRWeb/ — The North Carolina Innovation Council has elected Doug Hague of UNC Charlotte to serve as Chair and Agnes Gambill West of Appalachian State University to serve as Vice Chair. The incoming leadership will succeed Chair Katherine Bosken, North Carolina Commissioner of Banks, and Vice Chair Lawrence Baxter, Duke University David T. Zhang Professor Emeritus of the Practice of Law.

The North Carolina Innovation Council will also hire an Executive Director to facilitate the operations of the Council and manage the regulatory sandbox application process. Applications for the position will be accepted until May 22, 2024. The job posting can be found here.

The North Carolina Innovation Council and the North Carolina Regulatory Sandbox were established by SESSION LAW 2021-166 on October 15, 2021. The purpose of the regulatory sandbox program is to provide a short-term testing ground for innovative financial and insurance products or services that are otherwise encumbered by legal and regulatory frameworks. The regulatory sandbox program supports new business opportunities and the development, testing, and experimentation of innovative and transformational products and services by granting temporary regulatory relief.

Applications to the sandbox program will be available at innovation.nc.gov in Fall 2024. Admitted applicants will have access to the sandbox program for 24 months.

About North Carolina Innovation Council: North Carolina Innovation Council was established in 2021 to support innovation, investment, and job creation within North Carolina by encouraging participation in the financial and insurance regulatory sandbox. The Council is composed of 11 members, including the Commissioner of Banks, the Commissioner of Insurance, the Secretary of State, the Attorney General, and seven public members. The Council is responsible for admissions to the regulatory sandbox program and may explore or recommend blockchain initiatives and enter into reciprocity agreements with other sandboxes and jurisdictions.

Media Contact

Agnes Gambill West, NC Innovation Council, 1 (828) 262-2825, [email protected], https://www.innovation.nc.gov/ 

SOURCE NC Innovation Council

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