Unless an application to extend the two-year validity period is made at least three months before its expiry, or at such time as is otherwise agreed by the Regulator4, the FinTech Participant will have to exit the RegLab and choose to either:

(a) migrate to the full authorisation and supervisory regime under the FSMR and deploy its FinTech solution on a broader scale; or
(b) employ an exit strategy.

4 Please refer to paragraphs 8.5–8.6 of this Guidance.