Rethinking the regulatory sandbox for financial innovation: An assessment of the UK and Singapore

After the UK launched the first regulatory sandbox regime in 2016, the approach was quickly transplanted to numerous other countries as a means of promoting innovation, improving competition and enhancing financial inclusion. However, it remains unclear whether the approach can effectively achieve t...

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Main Author: CHEN, Christopher
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2020
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Online Access:https://ink.library.smu.edu.sg/sol_research/3273
https://search.library.smu.edu.sg/discovery/fulldisplay?docid=alma99562659102601&context=L&vid=65SMU_INST:SMU_NUI&lang=en&search_scope=Everything&adaptor=Local%20Search%20Engine&tab=Everything&query=any,contains,Regulating%20FinTech%20in%20Asia:%20Global%20context,%20local%20perspectives&offset=0
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spelling sg-smu-ink.sol_research-52312021-06-10T01:30:17Z Rethinking the regulatory sandbox for financial innovation: An assessment of the UK and Singapore CHEN, Christopher After the UK launched the first regulatory sandbox regime in 2016, the approach was quickly transplanted to numerous other countries as a means of promoting innovation, improving competition and enhancing financial inclusion. However, it remains unclear whether the approach can effectively achieve the relevant policy goals and thus justify the differential regulatory treatment. This chapter provides a broad overview of the regulatory sandbox regime and examines its potential benefits and problems. The chapter then provides some empirical evidence by analyzing the sandboxes awarded in the UK and Singapore between 2016 and 2018 with the aim of identifying what the businesses awarded the sandboxes are doing, the services they provide and their current regulatory status against the backdrop of the financial technology revolution. These cases provide a basis on which to assess the effectiveness of the regulatory sandbox approach in its infancy stage and provide some reflections for regulators. 2020-01-01T08:00:00Z text application/pdf https://ink.library.smu.edu.sg/sol_research/3273 info:doi/10.1007/978-981-15-5819-1_2 https://search.library.smu.edu.sg/discovery/fulldisplay?docid=alma99562659102601&context=L&vid=65SMU_INST:SMU_NUI&lang=en&search_scope=Everything&adaptor=Local%20Search%20Engine&tab=Everything&query=any,contains,Regulating%20FinTech%20in%20Asia:%20Global%20context,%20local%20perspectives&offset=0 http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection Yong Pung How School Of Law eng Institutional Knowledge at Singapore Management University Financial technology fintech regulatory sandbox innovation regulation Business Organizations Law Finance and Financial Management International Trade Law Technology and Innovation
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Financial technology
fintech
regulatory sandbox
innovation
regulation
Business Organizations Law
Finance and Financial Management
International Trade Law
Technology and Innovation
spellingShingle Financial technology
fintech
regulatory sandbox
innovation
regulation
Business Organizations Law
Finance and Financial Management
International Trade Law
Technology and Innovation
CHEN, Christopher
Rethinking the regulatory sandbox for financial innovation: An assessment of the UK and Singapore
description After the UK launched the first regulatory sandbox regime in 2016, the approach was quickly transplanted to numerous other countries as a means of promoting innovation, improving competition and enhancing financial inclusion. However, it remains unclear whether the approach can effectively achieve the relevant policy goals and thus justify the differential regulatory treatment. This chapter provides a broad overview of the regulatory sandbox regime and examines its potential benefits and problems. The chapter then provides some empirical evidence by analyzing the sandboxes awarded in the UK and Singapore between 2016 and 2018 with the aim of identifying what the businesses awarded the sandboxes are doing, the services they provide and their current regulatory status against the backdrop of the financial technology revolution. These cases provide a basis on which to assess the effectiveness of the regulatory sandbox approach in its infancy stage and provide some reflections for regulators.
format text
author CHEN, Christopher
author_facet CHEN, Christopher
author_sort CHEN, Christopher
title Rethinking the regulatory sandbox for financial innovation: An assessment of the UK and Singapore
title_short Rethinking the regulatory sandbox for financial innovation: An assessment of the UK and Singapore
title_full Rethinking the regulatory sandbox for financial innovation: An assessment of the UK and Singapore
title_fullStr Rethinking the regulatory sandbox for financial innovation: An assessment of the UK and Singapore
title_full_unstemmed Rethinking the regulatory sandbox for financial innovation: An assessment of the UK and Singapore
title_sort rethinking the regulatory sandbox for financial innovation: an assessment of the uk and singapore
publisher Institutional Knowledge at Singapore Management University
publishDate 2020
url https://ink.library.smu.edu.sg/sol_research/3273
https://search.library.smu.edu.sg/discovery/fulldisplay?docid=alma99562659102601&context=L&vid=65SMU_INST:SMU_NUI&lang=en&search_scope=Everything&adaptor=Local%20Search%20Engine&tab=Everything&query=any,contains,Regulating%20FinTech%20in%20Asia:%20Global%20context,%20local%20perspectives&offset=0
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