Driving Innovation with Regulatory Learning. Suggestions on the Formulation of the Legislation for Regulatory Sandboxes

Ground-breaking innovations rewrite the rules of established markets or create entirely new markets. Regulatory sandboxes are a key tool used in innovation policy to generate new markets. They tap transformation potential with their legal flexibility and regulatory learning: the economies that are the quickest at pro-actively adapting to this dynamic – including in the regulatory sense – will stand the best chances of getting established early in markets and areas of application emerging around new key technologies and also of shaping these markets and areas of application as they see fit.

The paper “Driving innovation with regulatory learning: suggestions on the formulation of the legislation for regulatory sandboxes,” sets out guidelines for the drafting of the federal government’s proposed legislation for regulatory sandboxes.