The UK Financial Conduct Authority issued a report identifying a number of successes of its innovation program adopted in 2014, including participating firms becoming authorized 40 percent faster than traditional firms; beneficial offerings coming to market; and participating firms obtaining “significant levels of investment.” This program, which includes adoption of a regulatory sandbox in 2016, has supported 686 firms since inception. Among the key objectives of FCA’s innovation program is to provide firms with increased regulatory certainty. FCA believes that by encouraging innovative firms to bring “improved offerings to the market, incumbents are pressured to enhance their offerings.”