On 10 June 2021, the FCA published a new webpage ‘Regulatory sandbox – cohort 7’.
The FCA reports that 13 firms have been accepted into cohort 7 of the regulatory sandbox to test innovative products and services.
The FCA also reports that the regulatory sandbox is currently run on a cohort basis, with periodic application windows opened throughout the year. However, the FCA’s intention is to move to ‘Always Open’ later in 2021, making the regulatory sandbox available throughout the year. In doing so it will also expand and clarify the scope of qualifying propositions to ensure it supports firms and sandbox tests which will lead to tangible benefits for consumers and markets. The FCA will make further announcements when the regulatory sandbox will be opening for new applications.