FCA opens up regulatory sandbox

The sandbox had previously operated on a cohort basis, meaning firms could only apply during specific windows. "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," the watchdog said. "The Kalifa Review of UK FinTech recommended that the sandbox be enhanced to provide more value to firms. This included a specific recommendation that the sandbox be made available on a rolling basis, rather than through ...