Two years ago the Financial Conduct Authority (FCA) published a plan to develop a “regulatory sandbox” and it has now published a report on lessons learned from this exercise which highlights the new uses participants make of technology, including online platforms, distributed ledger technology and biometrics. It also highlights changes made to firms’ business models as a result of participating in the sandbox and also the problems firms with certain business models have had meeting the initial regulatory requirements to become authorised.

Read the report »