The FCA has announced on its webpage that it has identified the firms that have succeeded in their application to begin testing in the first cohort of its regulatory sandbox. The FCA expects the firms to begin testing shortly with tests being conducted on a short-term and small-scale basis. The FCA has also worked with the firms to agree testing parameters, building in consumer safeguards.
The FCA has also confirmed details of the application window for the second cohort. Firms can apply to be part of the second cohort of the regulatory sandbox from 21 November 2016 until 19 January 2017. The test design period for the second cohort will take approximately 10 weeks and the FCA would expect all accepted firms to be ready to begin testing in May 2017.
View FCA announces successful regulatory sandbox participants and second cohort application window, 7 November 2016