FCA opens Regulatory Sandbox

2092

On 9 May the UK FCA announced the opening of its ‘regulatory sandbox’ to firms. If you have an innovative idea then subject to meeting the conditions (here), then you should apply to join the first cohort before 8 July 2016.

The range of options for eligible firms are:

“a tailored authorisation process (restricted authorisation) for new firms in the testing phase; individual guidance for firms testing ideas that do not easily fit into the existing regulatory framework and in some cases waivers or no enforcement action letters”