The FCA has published the following documents relating to the regulatory sandbox: (i) sandbox eligibility criteria against which the FCA will make decisions regarding applicants for testing in the sandbox; and (ii) default standards for sandbox testing parameter, covering duration, number of customers, customer selection and safeguards, disclosure, data and testing plans. Christopher Woolard, FCA Director of Strategy and Competition, has confirmed that the FCA will be open to applications for authorisation by sandbox firms on 9 May 2016. As the FCA will use a cohort approach and will select firms with the "most doable" tests for the first cohorts, there will be a competitive element to motivate firms to submit well developed testing plans. The FCA unveiled its plans for a regulatory sandbox in November 2015.