The Financial Conduct Authority's (FCA) safe space for firms wanting to try out new concepts - the so called regulatory sandbox - has opened for applications.
The regulator plans to take on two groups of firms in the coming the year and will accept applications for the first phase before 8 July and for the second between November and mid-January 2017. The regulatory sandbox aims to create a ‘safe space' in which businesses can test innovative products, services, business models and delivery mechanisms without fear of immediate regulatory consequences should things go wrong. The safe haven forms part of the FCA's Project Innovate - a hub for firms wishing to explore new products under guidance from the FCA. It is intended to offer firms a wa...
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