HDIW | Regulatory sandboxes and innovation hubs

Описание: In this HDIW video, Valentina Mejdahl, Risk Analysis Officer at ESMA, provides an overview of regulatory sandboxes and innovation hubs, their development since 2018, and their key challenges and benefits. These initiatives are crucial in fostering innovation in the financial sector while ensuring regulatory compliance and consumer protection.

Regulatory Sandboxes
These are controlled environments where firms can test new products and services under regulatory supervision, promoting innovation with flexibility within EU laws.

Innovation Hubs
These hubs serve as contact points for firms navigating fintech regulations, offering guidance on compliance and aligning innovations with regulatory frameworks.

Interest in these tools has surged, with Europe having 41 innovation hubs and 17 sandboxes as of October 2023, up from 21 and 5 in 2018.

These tools help regulators stay informed on new technologies and provide firms with regulatory access and feedback. Challenges include consumer protection, managing expectations, regulatory capacity, and cross-border cooperation.

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