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FCA opens regulatory sandbox for year-round applications


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The Financial Conduct Authority has opened its regulatory sandbox for applications throughout the year.
It was previously operated on a cohort basis and firms could only apply during specific dates in the year.
The regulatory sandbox provides firms with access to regulatory expertise and a set of tools to facilitate pre-launch testing.
Firms could test products and services in a controlled environment while reducing time-to-market at potentially lower cost.
It supports in identifying appropriate consumer protection safeguards to build into new products and services and better access to finance.
The FCA said: “While the cohort approach was appropriate for a testing environment, which served as a blueprint for regulators all over the world, the sandbox required changes to reflect its maturity and the lessons learned since its inception in 2016. ....

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