Financial Innovations in Czechia: Considerations for Establishment of Regulatory Sandbox

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68407700%3A21630%2F24%3A00375231" target="_blank" >RIV/68407700:21630/24:00375231 - isvavai.cz</a>

Výsledek na webu

<a href="https://doi.org/10.14712/23366478.2024.20" target="_blank" >https://doi.org/10.14712/23366478.2024.20</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.14712/23366478.2024.20" target="_blank" >10.14712/23366478.2024.20</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Financial Innovations in Czechia: Considerations for Establishment of Regulatory Sandbox

Popis výsledku v původním jazyce

The regulatory sandbox has been established in many EU Member States as well as developer non-EU countries as a tool for fostering financial innovation. On the contrary, the Czech Republic has not yet prepared a sandbox. The article introduces the topic, discusses the sandbox in the European and international context, and briefly explains the history and current status of financial innovations in the Czech Republic. The authors also discuss the OECD report on recommendations for the design of the FinTech Sandbox. Recommendations of which they find to be unsuitable for implementation due to the fundamental flaws of the report and the omission of an analysis of the Czech legal system. Finally, the authors of this article elaborate on the various options and parameters for the Czech sandbox. The authors recommend implementing a legal definition of a sandbox in the Czech legal system. Also, the authors call for the establishment of a sandbox that could support the development of financial innovation as Czech consumers show a particularly supportive stance towards new technologies.

Název v anglickém jazyce

Financial Innovations in Czechia: Considerations for Establishment of Regulatory Sandbox

Popis výsledku anglicky

The regulatory sandbox has been established in many EU Member States as well as developer non-EU countries as a tool for fostering financial innovation. On the contrary, the Czech Republic has not yet prepared a sandbox. The article introduces the topic, discusses the sandbox in the European and international context, and briefly explains the history and current status of financial innovations in the Czech Republic. The authors also discuss the OECD report on recommendations for the design of the FinTech Sandbox. Recommendations of which they find to be unsuitable for implementation due to the fundamental flaws of the report and the omission of an analysis of the Czech legal system. Finally, the authors of this article elaborate on the various options and parameters for the Czech sandbox. The authors recommend implementing a legal definition of a sandbox in the Czech legal system. Also, the authors call for the establishment of a sandbox that could support the development of financial innovation as Czech consumers show a particularly supportive stance towards new technologies.

Druh

J_SC - Článek v periodiku v databázi SCOPUS

CEP obor

—

OECD FORD obor

50501 - Law

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2024

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Acta Universitatis Carolinae Iuridica

ISSN

0323-0619

e-ISSN

2336-6478

Svazek periodika

70

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

11

Strana od-do

23-33

Kód UT WoS článku

—

EID výsledku v databázi Scopus

2-s2.0-85194429041