Lessons Learned: UK FCA Shares Insight into Fintech Sandbox Operation After First Year

Lessons Learned: UK FCA Shares Insight into Fintech Sandbox Operation After First Year

Following the first full year of operations of the Fintech Sandbox, the UK Financial Conduct Authority (FCA) has published a report outlining lessons learned. The UK has been the trailblazer in the concept of creating a regulatory sandbox to allow innovative financial firms to work closely with regulators on business models prior to being released live into the wild. The sandbox was effectively established to support the FCA’s objective of promoting effective competition in the interests of consumers but also allows the regulators to grow and learn. Since financial services are a highly regulated industry it can be difficult […]