The regulator will open its long-awaited innovation space for firms wanting to test new ideas immune from a regulatory backlash, this spring. Here is what it is looking for…
The regulatory sandbox will allow firms to test their ideas on consumers without fear the regulator could later pursue them if they have caused consumer detriment. The safe haven forms part of the Financial Conduct Authority's (FCA) project innovate - a hub for firms wishing to explore new products under guidance from the FCA. Participants in the sandbox will be able to test new products, services, business models and delivery systems, the FCA said in its business plan in April. Unauthorised firms will benefit from restricted authorisation for testing purposes, and all eligible fir...
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