The FCA has published its plan for implementing a ‘regulatory sandbox’, which, according to the FCA, is a safe place in which businesses can test new, innovative financial products, services or business models without immediately incurring all the normal regulatory consequences of engaging in those activities. The plan makes reference to the following: (i) the benefits of introducing a sandbox; (ii) a description of how the sandbox could be implemented; (iii) recommendations for the industry to consider; and (iv) options for legislative change for the government to consider. The FCA is hosting an event in December 2015 to discuss its plans for implementing the sandbox. It intends to open the sandbox unit for testing proposals in spring 2016