Market experts have welcomed the British regulators’ new initiative as an encouraging development
The Financial Conduct
Authority’s new sandbox initiative development
could be a key development in preparations for Mifid II, market
experts have said, with the scheme flagged as an revolutionary
move that global bodies could emulate to help the industry
tackle the evolving regulatory landscape.
"The regulatory sandbox is a forward
thinking move by the FCA," Morgan Trinkaus and Jay Biondo,
directors for surveillance products design at surveillance tech
firm Neurensic, told FOW. "It is refreshing to see a regulatory
agency taking a progressive approach to oversight that is based
on collaboration as opposed to fear. Moreover, is an
unambiguous signal that they are serious about fostering
industry innovation while simultaneously maintaining nearly all
the existing market safeguards."
The regulator has this week detailed plans
for its regulatory sandbox, described as a safe space in which
businesses can: "test innovative products, services, business
models and delivery mechanisms without immediately incurring
all the normal regulatory consequences of pilot
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