[en] This chapter explores the evolution of regulatory sandboxes and innovation hubs. It highlights that the Financial Conduct Authority (FCA) introduced the first financial regulatory sandbox under Project Innovate in the UK in 2016. At its simplest, a regulatory sandbox refers to a safe space that enables FinTech start-ups and other innovative firms to develop and test their innovations without being subject to the full scope of financial regulation. In addition to regulatory sandboxes, jurisdictions develop innovation hubs to support innovation in financial services. Though the popularity of regulatory sandboxes ensures that they retain an important role in advertising a jurisdiction as pro-innovation, the real work of promoting and facilitating innovation tends to be done by innovation hubs.
Research center :
NCER-FT - FinTech National Centre of Excellence in Research
Disciplines :
Economic & commercial law
Author, co-author :
Arner, Douglas; Hong Kong University > Faculty of Law
Buckley, Ross P; UNSW Sydney > Department of law and justice
VEIDT, Robin ; University of Luxembourg > Faculty of Law, Economics and Finance > Department of Law > Research and Development unit
ZETZSCHE, Dirk Andreas ; University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Law (DL)
