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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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 |
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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 |
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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 |
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Institutional Knowledge at Singapore Management University |
publishDate |
2020 |
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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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