FCA has updated information on its regulatory sandbox. It says the sandbox’s popularity is increasing and larger numbers of firms both applied for and were accepted for testing in cohort 2. FCA has named the 24 firms that are ready to begin testing shortly and describes the services they are testing. A wide range of firms and services are in the sandbox for this stage. Firms that tested in cohort one are now submitting final reports, and FCA expects most of the firms will take their propositions to market.
Applications are now open for cohort 3. The application period closes at the end of July and FCA would expect firms to be ready to begin testing in November.