Regulatory Sandbox

Application assessment

Once your complete application has been submitted, a member of the Sandbox team will review it and you will be notified about your application’s eligibility

Panel review

If your application is eligible, your application will be presented to a panel of senior FRA decision-makers for further evaluation.

Outcome

Following the panel discussion, you’ll be informed whether your application has been accepted or declined. If accepted, the Sandbox team will assist you in obtaining the resources and tools you need for testing.

If your application to join the Sandbox is approved, you’ll be assigned a dedicated case officer who will serve as your primary contact throughout the testing process. You will then work with your case officer to prepare your testing activities, following your established plan and obtaining any necessary regulatory tools to begin testing.

Once testing is complete, you must submit a final report outlining the objectives and outcomes of your test. If the test is successful, you may apply to remove any restrictions on your permissions, allowing you to become a fully authorized firm.