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Md Delwar Hossain
May 12, 2022
In Business Forum
In fact, there have been many rumors about the regulatory sandbox recently. In the past few years, the efficiency improvement brought by Internet financial innovation Special Database has been praised, and the hidden risks behind the innovation are also alarming. After centralized governance, the chaos in the industry has gradually subsided, innovation and development have been put on the agenda again, and how to avoid risks in innovation and Special Database development has also been put on the agenda. As a result, people began to bring up the "regulatory sandbox" again, hoping that this "exotic product" could balance efficiency and risk. In this article, we talk about the regulatory sandbox. Faced with the classic problem of "to be or not to be", does the regulatory sandbox really have a magical effect? 1. What Special Database is a regulatory sandbox? Regulatory Sandbox is an imported term. Literally, it refers to the implementation of supervision in a controllable environment, so that new products/models can be iteratively verified in the real market environment, and the fakes are preserved; users can access new products under the premise of protection, and Special Database enjoy the efficiency of the new model without being risked Injured (pre-agreed risk compensation mechanism). The regulatory sandbox was pioneered by the UK’s FCA (Financial Conduct Authority) and quickly became popular internationally, and is regarded as an innovation in the Special Database financial technology regulatory model. Considering that FCA takes the protection of consumer rights as its primary responsibility (Weaim to make financial markets work well so that consumers get a fair deal.), the FCA version of the regulatory sandbox is not so much for the better development of financial technology as it is better To protect the rights and interests Special Database of financial consumers—not only let consumers enjoy the efficiency improvement brought by innovation, but also avoid the potential risks of innovation as much as possible.
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Md Delwar Hossain

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