Find out how to apply to test in the Regulatory Sandbox and what happens after you submit your application.
Preparing your application
When applying you will be asked a series of questions about your proposal, how it meets our eligibility criteria and the details of your testing plan. You will need to meet all the criteria to be accepted for support.
Read the draft application form to help you prepare. This includes a copy of questions you’ll be asked, as well as some guidance to help you answer the questions.
Key points for your application
To maximise your chances of making a successful application, ensure your case includes these points. We’re less likely to support applications which don’t include these.
- Application is of sufficient quality to assess effectively. Provide comprehensive information and responses – avoiding any gaps – and comprehensive supporting materials and research.
- Proposition is within our remit or aligned with our services. Provide a clear link to regulated activities and explain why regulatory engagement or sandbox support is needed, particularly where the proposition is in a more established or conventional product area, with the clear need for regulatory engagement or sandbox support. Avoid applications seeking endorsement rather than regulatory engagement.
- Proposition is genuinely innovative. Avoid reflecting existing, conventional market offerings or well-established business models such as fractional or tokenised asset models eg real estate, traditional digital personal finance tools, payments and remittance models, Buy Now Pay Later (BNPL), peer-to-peer lending, credit alternatives, and escrow, compliance or operational tools, without clear differentiation, consumer benefit, or a credible testing rationale. See our Innovation insight report for further examples.
- Consumer benefits are clear and well evidenced. Include clear outcomes for retail consumers or business users. Avoid including only marginal improvements on existing services.
Expand the 'Show more+' link for more key points to support your application.
Application form and process
Fill in the application form and find out what happens after submitting your application
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Apply online
Please fill in our online application form:
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Initial assessment and phase 1 outcome
After you submit a complete application, the Sandbox team will review whether it can progress to full assessment. We aim to provide this outcome within 2 to 3 weeks. We’ll tell you if it doesn’t meet the eligibility criteria for Regulatory Sandbox support at this stage, and will close the application. We’re unable to provide detailed feedback on applications that don’t progress. We don’t operate an appeal process.
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Full assessment, panel review and phase 2 decision
Your application will be considered by an FCA panel of senior decision makers and likely contact you for additional information. We aim to complete this stage within 8 to 12 weeks, subject to the complexity of the application and the information provided. We’ll then tell you whether your application has been accepted or rejected.
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Preparation for the Sandbox
If accepted, we’ll work with your firm to prepare for testing and agree the appropriate regulatory tool, such as restricted authorisation, where required.
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Seeking restricted authorisation (if required)
To carry out regulated activities in the UK, firms must be authorised or registered with us, unless certain exemptions apply. If your firm is accepted to the Sandbox, you'll need to apply for the relevant authorisation or registration to test. We have a tailored authorisation process for firms accepted to the Sandbox and will provide support with the authorisation process.
Any authorisation or registration will be restricted. This means that you’ll only be able to test your innovative product or service as agreed.
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Testing
Firms normally test in the Sandbox for around 6 months, in line with an agreed testing plan and safeguards. Where restricted authorisation is required, firms should typically be ready to start testing within 3 months of receiving it.
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Exit the Sandbox and submit a final testing report
At the end of testing, firms exit the Sandbox and submit a final report setting out the results and key learnings. Firms should submit this within 3 months of completing their test.
Firms operating under restricted authorisation will be required to submit a Variation of Permission (VOP) application via Connect. A VOP would remove any restrictions placed on a firm during the Sandbox test period.
Testing in the Regulatory Sandbox
If your application to test in the Sandbox is accepted, you’ll be assigned a dedicated case officer who will be your main point of contact during the test.
You will have around 4 weeks to work with your case officer to prepare test activities based on your testing plan and seek the regulatory tool you need to begin testing.
If you need restricted authorisation, you'll need to make a separate application to Authorisations. The length of the application process will depend on the quality of your application, but your case officer will give you more information about this.
Firms normally test in the Sandbox for around 6 month. This is in line with an agreed testing plan and appropriate safeguards, although timelines may vary depending on the nature and complexity of the use case.
At the end of the testing period, you will need to complete a final testing report, detailing the aim of the test and its results. If your test has been successful, you can apply to remove the restrictions on your permissions to become a fully authorised firm.
Your privacy
We’ll keep your proposal confidential. We may share information within the FCA to make sure that the relevant experts can answer your questions, but we’ll never share information externally without your consent, unless compelled to by law.
More information and help with firm questions
To help you during the application process.
