The Regulatory Sandbox allows firms to test innovative products, services or business models in a live market environment, while ensuring that appropriate protections are in place. It is part of 'Innovate', an initiative kicked off in 2014 to promote competition in the interest of consumers. Since its inception, 'Innovate' has had over 1,200 applications and has supported more than 500 firms. The Sandbox was a first for regulators worldwide, underlining the FCA's commitment to innovation in financial services.
Click here to read more