Palabras clave
política regulatoria
Colombia
reforma regulatoria
innovación
mercado regulado
investigación comparada
competencia
América Latina
regulatory sandbox
Cómo citar
Resumen
La llegada de la transformación digital y las nuevas tecnologías ha planteado nuevos retos a los reguladores. La necesidad de nuevas herramientas regulatorias surge de la necesidad de conciliar los objetivos regulatorios con las innovaciones en productos, servicios, modelos de negocio e incluso estrategias regulatorias. En este contexto, Colombia, al igual que otros países, ha optado por implementar sandboxes regulatorios como medio para abordar estos retos. Este artículo presenta una revisión de la literatura actual sobre el surgimiento y adopción de sandboxes regulatorios en diferentes jurisdicciones. La segunda parte del artículo evalúa la regulación sandbox existente en Colombia, utilizando las principales características identificadas en la revisión de la literatura. Finalmente, el artículo identifica una serie de retos para mejorar la regulación sandbox en Colombia. Se argumenta que la evaluación de la respuesta a estos retos a través de modificaciones al régimen existente conducirá a mayores beneficios para la innovación y los mercados regulados
Citas
Alaassar, A., Mention, A. L., & Aas, T. H. (2020). Exploring how social interactions influence regulators and innovators: The case of regulatory sandboxes. Technological Forecasting and Social Change, 160. https://doi.org/10.1016/j.techfore.2020.120257
Alaassar, A., Mention, A. L., & Aas, T. H. (2021). Exploring a new incubation model for FinTechs: Regulatory sandboxes. Technovation. https://doi.org/10.1016/j.technovation.2021.102237
Allen, H. J. (2019). Regulatory sandboxes. George Washington Law Review, 87(3), 579–645. https://doi.org/10.4337/9781788979023.00028
Arner, D. W., Barberis, J. N., & Buckley, R. P. (2017). FinTech and RegTech in a Nutshell, and the Future in a Sandbox (Nos. 3–4; Research Foundation Briefs, pp. 1–20). CFA Institute Research Foundation. http://vanfunding.com/wp-content/uploads/2017/10/1_CFA_ResearchFoundation_FinTechRegTech_Nutshell_Jul2017.pdf
Ashford, N. A., Ayers, C., & Stone, R. F. (1985). Using regulation to change the market for innovation. Harvard Environmental Law Review, 9(2), 419–466.
Attrey, A., Lesher, M., & Lomax, C. (2020). The Role of sandboxes in promoting flexibility and innovation in the digital age (Going Digital Toolkit Policy Note). OECD.
BMWi. (2019). Making space for innovation The handbook for regulatory sandboxes. Federal Ministry for Economic Affairs and Energy (BMWi). https://www.bmwi.de/Redaktion/EN/Publikationen/Digitale-Welt/handbook-regulatory-sandboxes.pdf?__blob=publicationFile&v=2
Bromberg, L., Godwin, A., & Ramsay, I. (2017). Fintech sandboxes: Achieving a balance between regulation and innovation. Journal of Banking and Finance Law and Practice, 28(4), 314–336.
Chen, C. (2020). Rethinking the Regulatory Sandbox for Financial Innovation: An Assessment of the UK and Singapore. En M. Fenwick, S. Van Uytsel, & B. Ying (Eds.), Regulating FinTech in Asia (pp. 11–30). Springer Singapore. https://doi.org/10.1007/978-981-15-5819-1_2
Cornelli, G., Doerr, S., Gambacorta, L., & Merrouche, O. (2020). Inside the regulatory sandbox: Effects on fintech funding (No. 901; BIS Working Papers). Bank for International Settlements. https://www.bis.org/publ/work901.htm
Cullet, P. (2017). Innovation and Trends in Water Law (K. Conca & E. Weinthal, Eds.; Vol. 1). Oxford University Press. https://doi.org/10.1093/oxfordhb/9780199335084.013.33
ESA. (2019). Fintech: Regulatory sandboxes and innovation hubs. European Supervisory Authorities.
Fáykiss, P., Papp, D., Sajtos, P., & Tőrös, Á. (2018). Regulatory Tools to Encourage FinTech Innovations: The Innovation Hub and Regulatory Sandbox in International Practice. Hitelintézeti Szemle, 2017(2), 43–67. https://doi.org/10.25201/FER.17.2.4367
FCA. (2017). Regulatory sandbox lessons learned report. Financial Conduct Authority. https://www.fca.org.uk/publications/research/regulatory-sandbox-lessons-learned-report
FCA. (2022, marzo 27). Regulatory Sandbox. https://www.fca.org.uk/firms/innovation/regulatory-sandbox
Garvey, K., Li, W., Shenglin, B., Zhang, B. Z., Rowan, P., Rauchs, M., Rau, P. R., Ziegler, T., & Rui, H. (2018). Guide to Promoting Financial & Regulatory Innovation: Insights from the UK. Cambridge Centre for Alternative Finance. https://www.ssrn.com/abstract=3621277
Goo, J. J., & Heo, J. Y. (2020). The impact of the regulatory sandbox on the fintech industry, with a discussion on the relation between regulatory sandboxes and open innovation. Journal of Open Innovation: Technology, Market, and Complexity, 6(2), 43. https://doi.org/10.3390/JOITMC6020043
Gromova, E., & Ivanc, T. (2020). Regulatory sandboxes (Experimental legal regimes) for digital innovations in BRICS. BRICS Law Journal, 7(2), 10–36. https://doi.org/10.21684/2412-2343-2020-7-2-10-36
Herrera, D., & Vadillo, S. (2018). Sandbox Regulatorio en América Latina y el Caribe para el ecosistema FinTech y el sistema financiero. En Inter-American Development Bank (Número March). Banco Interamericano de Desarrollo.
Holburn, G. L. F. (2012). Assessing and managing regulatory risk in renewable energy: Contrasts between Canada and the United States. Energy Policy, 45, 654–665. https://doi.org/10.1016/j.enpol.2012.03.017
Jenik, I., & Lauer, K. (2017). Regulatory Sandboxes and Financial Inclusion (p. 22) [Working Paper]. CGAP.
Knight, B. R., & Mitchell, T. E. (2020). The Sandbox Paradox: Balancing the Need to Facilitate Innovation with the Risk of Regulatory Privilege. Mercatus Center at George Mason University. https://www.mercatus.org/publications/financial-markets/sandbox-paradox-balancing-need-facilitate-innovation-risk-regulatory
López Murcia, J. D. (2022). Inteligencia regulatoria: Algunas herramientas para diseñar y analizar regulación. Legis.
López-Murcia, J. D. (2022). Recentralisation in Colombia. Springer International Publishing. https://doi.org/10.1007/978-3-030-81674-2
Mader, L. (2001). Evaluating the Effects: A Contribution to the Quality of Legislation. Statute Law Review, 22(2), 119–131. https://doi.org/10.1093/slr/22.2.119
Makarov, V. O., & Davydova, M. L. (2020). On the concept of regulatory sandboxes. En E. G. Popkova & B. S. Sergi, “Smart Technologies” for Society, State and Economy. (Vol. 155). Springer.
Marcos, F., & Santaló, J. (2010). Regulation, Innovation and Productivity (Nos. WP10-04; IE Business School Working Papers). IE Business School. http://www.ssrn.com/abstract=1645936
OECD (Ed.). (2019). Going Digital: Shaping Policies, Improving Lives. OECD Publishing. https://doi.org/10.1787/9789264312012-en
Ofgem. (2017). Guidance on technical derogation requests. Office of Gas and Electricity Markets (Ofgem). https://www.ofgem.gov.uk/sites/default/files/docs/2017/11/derogations_guidance_post-con.pdf
Ofgem. (2018). Insights from running the regulatory sandbox. Office of Gas and Electricity Markets (Ofgem). https://www.ofgem.gov.uk/publications-and-updates/insights-running-regulatory-sandbox
Padgett, S. (1992). The Politics of Nuclear Regulation. En K. Dyson, The Politics of German Regulation. Darthmouth Publishing Co Ltd.
Porter, M. E., & Linde, C. van der. (1995). Toward a New Conception of the Environment-Competitiveness Relationship. Journal of Economic Perspectives, 9(4), 97–118. https://doi.org/10.1257/jep.9.4.97
Ringe, W. G., & Ruof, C. (2020). Regulating fintech in the EU: The case for a guided sandbox. European Journal of Risk Regulation, 11(3), 604–629. https://doi.org/10.1017/err.2020.8
Rosemberg, C., Potau, X., Leistner, S., Dijkstal, F., Vinnink, A., Tiriduzzi, C., Daved, A., & Blind, K. (2020). Regulatory Sandboxes and Innovation Testebeds: A look at international experience and lessons for Latin America and the Caribbean. Banco Interamericano de Desarrollo. https://publications.iadb.org/publications/english/document/Regulatory-Sandboxes-and-Innovation-Testbeds-A-Look-at-International-Experience-in-Latin-America-and-the-Caribbean.pdf
SFC. (s/f-a). Convocatorias. laArenera. https://www.superfinanciera.gov.co/publicaciones/10114253/innovasfclaarenerasandbox-del-supervisor-10114253/
SFC. (s/f-b). Sandbox del Supervisor. laArenera. https://www.superfinanciera.gov.co/publicaciones/10114253/innovasfclaarenerasandbox-del-supervisor-10114253/
SFC. (2020). Manual de Funcionamiento de laArenera. Superintendencia Financiera de Colombia.
UNSGSA FinTech Working Group and CCAF. (2019). Early Lessons on Regulatory Innovation to Enable Inclusive FinTech: Innovation Offices, Regulatory Sandboxes and RegTech. Office of the UNSGSA and CCAF. https://doi.org/10.2139/ssrn.3621258
WBG. (2020). Global Experiences from Regulatory Sandboxes (No. 8; Fintech Note). World Bank Group.
Wechsler, M., Perlman, L., & Gurung, N. (2018). The State of Regulatory Sandboxes in Developing Countries. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3285938
Yefremov, A. (2019). Regulatory Sandboxes and Experimental Legislation as the Main Instruments of Regulation in the Digital Transformation. Communications in Computer and Information Science, 1038 CCIS, 82–91. https://doi.org/10.1007/978-3-030-37858-5_7
Zetzsche, D. A., Buckley, R. P., Arner, D. W., & Barberis, J. N. (2017). Regulating a Revolution: From Regulatory Sandboxes to Smart Regulation. En EBI Working Paper (Working Paper No. 11; European Banking Institute (EBI) Research Paper Series). European Banking Institute. https://doi.org/10.2139/ssrn.3018534
Esta obra está bajo una licencia internacional Creative Commons Atribución-NoComercial-CompartirIgual 4.0.
Derechos de autor 2024 Morales para el autor y los de publicación y los demás para el autor