On 20 October 2017, the FCA published a report on lessons learned from its regulatory sandbox.
As a reminder, the regulatory sandbox allows firms to test innovative products, services and business models in a live market environment, while ensuring that appropriate safeguards are in place.
The report contains the FCA’s reflections on how the sandbox has met its objectives over the first year of its operation and includes:
- an overview of year one;
- an overview of participants;
- the impact on the market;
- limitations of testing; and
- next steps.
The FCA states that it will use the insights outlined in the report to inform any future sandbox developments and will continue to feed them into their broader regulatory work, including policymaking and supervisory activities.