The Financial Conduct Authority (FCA) has released the names of 18 of the 24 firms accepted into its regulatory sandbox, which allows firms to test their ideas on consumers in a safe haven environment.
The 18-strong list, which includes household names such as Citizens Advice, HSBC and Lloyds, has been whittled down from 69 applications submitted by a wide-range of firms. The regulator has named the firms it expects to begin testing shortly, with the identity of half a dozen firms remaining unknown. These six will begin testing with the second cohort of sandbox firms. The regulator assessed applications from both authorised and unauthorised firms, as well as technology businesses wanting to provide services to FCA-regulated firms. FCA executive director of strategy and competitio...
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