监管沙盒:兼容金融科技与金融监管的长效机制

Regulatory Sandbox:Financial Technology is Compatible with Financial Regulation in the Long-Term Mechanism

金融科技驱动金融创新,当金融创新与现有的一般规则相抵触时,如果从严监管,则真正有价值的金融创新也会面临被阻遏的风险;反之,却会造成无法控制潜在风险的后果。首创于英国的监管沙盒机制将金融科技与金融创新置于安全空间,使之不会就其活动立刻产生违反一般法规的后果。即提供稳定与可预测的监管环境,使金融科技与金融创新在不受现有一般规则阻碍的同时,得到了实践经验作为其逐步完善的支撑,进而兼容金融监管与金融科技的发展,形成系统长效的监管机制。

Financial technology promote the development of financial innovation. When financial innovation contradicts the existing laws,the financial innovation of great significance may be blocked under the governmental control. On the contrary,weakening the regulation may also encounter the potential risks. Regulatory sandbox was firstly established in UK,it is a ‘safe space＇ in which it can test financial technology and financial innovation without immediately incurring the normal regulatory consequences of engaging in the activity in question. Under the stable and predictable regulatory environment,financial technology and financial innovation without impediment for existing laws,more importantly,it gains practical experience to support the further improvement. The regulatory sandbox can continue to maintain a regulatory mechanism that is effective and systematic enough to include the safe coexistence of financial regulation and financial technology.