Abstract
When supervising emerging technologies, regulators are more effective when they collaborate with business. Yet, innovative businesses are often small, inexperienced, and mistrustful. How can regulators motivate them to collaborate? This study examines this question by applying responsive regulation theory to a case study of the United Kingdom's regulatory sandbox for financial technology. This study illustrates how frontline regulatory interactions foster regulator–innovator collaboration, in ways that differ from how these interactions foster collaboration between regulators and the mature industries upon whose study responsive regulation is based. As one of the first academic studies to collect data from sandbox participants, this article offers unique insights into “what works” about the United Kingdom's much-imitated model.
| Original language | English |
|---|---|
| Pages (from-to) | 162-184 |
| Number of pages | 23 |
| Journal | Law & Policy |
| Volume | 44 |
| Issue number | 2 |
| Early online date | 16 Mar 2022 |
| DOIs | |
| Publication status | Published - Apr 2022 |
Bibliographical note
Funding Information:This study was funded by the European Research Council under the European Union's 2020 research and innovation program. It is part of the Successful Public Governance project (grant agreement no. 694266).
Funding Information:
This study was funded by the European Research Council under the European Union's 2020 research and innovation program. It is part of the Successful Public Governance project (grant agreement no. 694266). 1
Publisher Copyright:
© 2022 The Author. Law & Policy published by University of Denver and Wiley Periodicals LLC.
Keywords
- Enforcement styles
- Governance
- Law
- Responsive regulation
- Securities