Regulatory sandbox application form (user testing only)

This form is for user testing

Getting started

The regulatory sandbox allows businesses to test innovative propositions in a live environment. We assess regulatory sandbox applications against our eligibility criteria[1].

Please note that we will only accept completed applications via the web form. Please note that if you are using the web form any progress will not automatically be saved. We would advise you to complete your application form offline and input your answers on the web form once completed. For a pdf copy of the application questions please visit (tbc).

About Your Firm

Name of Organisation

Companies House no.

Address of Registered Head Office

Type of organisation

Firm type (please check one of the boxes below):

FCA Authorised firm

FCA Registered firm (please specify the type of registration)

Temporary permissions regime (this is for previously EEA authorised firms who can no longer passporting now and yet get full authorisation)

Non-regulated firm already involved in financial services

Non-regulated firm not yet involved in financial services (please specify in which sector you already operate)

Respondent full name

Position in the organisation

Respondent Contact Number

Respondent Email

About Your Innovation

Provide a summary of your proposition and its stage of development. If you already have a business plan, deck, or other material please attach it as part of your application. Please refer to the “Applying to the regulatory sandbox” webpage for more guidance.

Please provide an indication of the main technology that is used to enable your innovation, please select multiple if they apply and provide a short explanation in the free text box if possible.

DLT/Blockchain

Artificial intelligence/machine learning

Predictive analytics

API

Cloud

Big Data

Quantum Computing

Biometrics

Further details/non-technology driven innovation/other tech (please specify below):

Meeting our eligibility criteria

In scope

Explain how your idea is a regulated activity or supports regulated business in the UK financial services market. Your response should consider where you believe your idea fits within the regulatory perimeter. If you believe your idea falls outside of the perimeter, please explain your relationship with a business in the FCA’s regulatory perimeter[2]. You may wish to look at the Perimeter Guidance Manual (PERG) section 2.7[3] in the FCA Handbook for guidance on regulated activities.

Genuine innovation

Explain how your idea is new or a significantly different offering in the marketplace. Please include reference to any competitors in the market you are targeting.

Your Testing Plan

Describe the test you are proposing to carry out in the regulatory sandbox, including the regulatory tool(s) required (e.g. restricted authorisation).

Describe the timeline and key milestones of your proposed test. The regulatory sandbox supports tests of up to 6 months.

Diversity & Inclusion

The FCA believes that diversity and inclusion are regulatory issues[4], and this extends to the support we offer in the sandbox. Diversity of experience, thought, and participation at senior levels leads to well-rounded decision-making, enabling firms to better meet the needs of all consumers. We consider diversity important to the health of the FinTech ecosystem, and we welcome applications from underrepresented groups (including female and minority-led firms).

We have an interest in understanding the extent to which sandbox applicants have implemented working practices aimed to promote diversity and inclusion. We encourage applicants to share details of any policy documents outlining their approach to these topics.

To gauge the balance of representation in senior leadership, we are taking a holistic approach by requesting data covering the protected characteristics[5] of gender, race, sexuality, religion, age and disability, whilst also seeking insight into the social backgrounds of senior leaders in FinTech.

We understand that some firms may not already capture all (or part) of the requested information, so please answer the questions to the extent that you are able. An applicant’s inability to provide this information, or preference not to share, will not adversely impact any element of the decision to be made regarding the application.

How many individuals make up your senior leadership team?

We define a “senior leadership team” as salaried employees of the applicant firm e.g. Founders, Chief Executive, any individuals with Senior Management Functions[6].

What best describes the gender identity of your senior leadership team?

If you have selected prefer to self describe use the below free text to outline how the relevant individual(s) identify.

By submitting this form, you consent to us sending you emails on your application to the regulatory sandbox. We process personal data in line with the requirements of the General Data Protection Regulation (EU) 2016/679 and the Data Protection Act 2018. See our privacy notice for more information about the way we use the personal data collected in this form.