FCA Announces List of Firms for Third Cohort of Regulatory Sandbox
FCA announced the list of firms that were successful in their applications to begin testing in the third cohort of the regulatory sandbox. FCA is also accepting applications from firms to be part of its fourth sandbox phase, the deadline for which is January 31, 2018.
Out of the 61 submissions received for the third phase of the regulatory sandbox, 18 applications met the sandbox eligibility criteria and were accepted to develop toward testing. Accepted propositions cover a range of areas, including blockchain-based payment services, regtech propositions, general insurance, Anti-Money Laundering controls, and biometric digital ID and Know Your Customer (KYC) verification. The sandbox permits firms to test innovative products, services, or business models in a live market environment with real consumers, while ensuring that appropriate protections are in place. It is part of Innovate, an initiative that kicked off in 2014 to promote competition in the interest of consumers.
Related Links
Keywords: Europe, UK, Banking, Insurance, Securities, Regulatory Sandbox, Regtech, Fintech, FCA
Previous Article
EIOPA Releases Editable Template for IPIDRelated Articles
|
News
EC Amends Regulation Supplementing Solvency II DirectiveEC published the Delegated Regulation (EU) 2019/981 that amends the Regulation (EU) 2015/35, which supplements Solvency II Directive (2009/138/EC) on the taking-up and pursuit of the business of insurance and reinsurance.
June 18, 2019
WebPage
Regulatory News
|
|
News
IOSCO Report Examines Application of International Cyber StandardsIOSCO published a final report that examines the application of the three internationally recognized cyber standards and frameworks by IOSCO member jurisdictions.
June 18, 2019
WebPage
Regulatory News
|
|
News
PRA Launches 2019 Stress Test Exercise for Life and General InsurersPRA has launched the biennial insurance stress test and is asking the largest regulated life and general insurers to provide information about the impact of a range of stress tests on their business.
June 18, 2019
WebPage
Regulatory News
|
|
News
PRA Finalizes Reporting Amendments to Pillar 2 Liquidity FrameworkPRA published the final Policy Statement PS13/19 on regulatory reporting amendments and clarifications to the Pillar 2 liquidity framework for banks in UK.
June 17, 2019
WebPage
Regulatory News
|
|
News
FSB Assesses Implementation of Compensation Standards and PrinciplesFSB published the sixth progress report on the implementation of its principles and standards for sound compensation practices in financial institutions.
June 17, 2019
WebPage
Regulatory News
|
|
News
IMF Publishes Reports on 2019 Article IV Consultation with IrelandIMF published its staff report and selected issues report under the 2019 Article IV consultation with Ireland.
June 17, 2019
WebPage
Regulatory News
|
|
News
EBA Updates Data on Deposit Guarantee Schemes in EUEBA published the 2018 data on two key concepts in the Deposit Guarantee Schemes Directive (DGSD)—namely, available financial means and covered deposits.
June 17, 2019
WebPage
Regulatory News
|
|
News
SNB Updates Form for Reporting Solvency Risk of CounterpartiesSNB published the survey (Form Release 5.01) and related documentation for reporting solvency risk of counterparties in the interbank sector (ARIS).
June 17, 2019
WebPage
Regulatory News
|
|
News
ISDA Studies Variation in Global Implementation of Margin RequirementsISDA published a paper that highlights the main areas of difference in the implementation of margin requirements for non-cleared derivatives across jurisdictions and makes recommendations on how to resolve these variations.
June 17, 2019
WebPage
Regulatory News
|
|
News
US Agencies Finalize Rule to Streamline Reporting for Small BanksUS Agencies (FDIC, FED, and OCC) adopted a final rule to streamline the regulatory reporting requirements for small institutions.
June 17, 2019
WebPage
Regulatory News
|
