Keeping up with Innovation: Designing a European Sandbox for Fintech

Wolf-Georg Ringe and Christopher Ruof

ECMI Papers from Centre for European Policy Studies

Abstract: In the aftermath of the 2007-09 global financial crisis, regulators in all major jurisdictions introduced significant new requirements for financial firms. Certainly justified in purpose, these regulations have increased market barriers, both directly through specific obligations, and indirectly through the sheer magnitude and complexity they involve. Regulators primarily focused on bolstering financial stability and consumer protection, while frequently disregarding their objective of promoting financial innovation. Ten years after the crisis, it is time to reconsider the appropriate balance between those objectives. In this commentary, the authors show how EU financial regulation may stifle the innovation of financial services. Using the example of automated investment advice, so-called ‘robo-advisors’, they show how a proper balance between regulatory objectives could be achieved through establishing a ‘guided’ regulatory sandbox.

Pages: 6 pages
Date: 2019-01
New Economics Papers: this item is included in nep-cba, nep-ino and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.ceps.eu/system/files/Keeping%20up%20wi ... _ECMI_commentary.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eps:ecmiwp:14029

Access Statistics for this paper

More papers in ECMI Papers from Centre for European Policy Studies Contact information at EDIRC.
Bibliographic data for series maintained by Margarita Minkova ().