Global Regulatory 'Sandbox' Accepts First 8 Firms

Law360, London (April 29, 2019, 1:31 PM BST) -- A cross-border regulatory testing ground for companies experimenting with new financial projects has taken on its first eight firms, a senior figure at the Financial Conduct Authority said Monday, 12 months after the program was announced.

Chris Woolard, the FCA's executive director of strategy and competition, told an audience in London that the Global Financial Innovation Network, known as GFIN, has recruited eight businesses for an initial cross-border trial of the service. Four of the companies are testing with the FCA alongside regulators from other jurisdictions, Woolard added.

The FCA, which chairs the innovation network, announced plans in March 2018 to...

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