Regulatory Sandbox

This refers to regulatory sandboxes that global regulators have set up around the world. In the UK the FCA has set up a sandbox that is open to authorised firms, unauthorised firms that require authorisation and also technology businesses. The sandbox seeks to provide firms with the ability to test products and services in a controlled environment, reduce the time-to-market, support in identifying appropriate consumer protection safeguards and better access to finance. The sandbox also offers tools such as restricted authorisation, individual guidance, informal steers, waivers and no enforcement action letters.