UK’s FCA claims success after first year of ‘sandbox’
Regulatory ‘sandbox’ has had high success rate, but there have been some issues, says regulator
After a year in operation, the UK’s regulatory ‘sandbox’ has achieved many of the goals set out by regulators, the Financial Conduct Authority says in a ‘lessons learned’ report published today (October 20).
The sandbox has reduced the time and cost of getting innovative ideas to market, with 75% of participants successfully completing testing, and 90% of these continuing on to a “wider market launch”. Firms in the sandbox found it easier to access funding and to test new products, while the
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