Caught in quicksand? Compliance and legitimacy challenges in using regulatory sandboxes to manage emerging technologies
| dc.contributor.author | Johnson, Walter | |
| dc.date.accessioned | 2025-05-15T00:22:49Z | |
| dc.date.available | 2025-05-15T00:22:49Z | |
| dc.date.issued | 2022 | |
| dc.date.updated | 2023-11-26T07:16:28Z | |
| dc.description.abstract | Regulatory sandboxes have become the latest development in regulatory reform, starting first in financial regulation and now expanding to other sectors. While sandboxes offer notable potential benefits for managing emerging technologies, achieving desirable policy outcomes with this novel regulatory instrument also comes with technical and political challenges. This article offers a framework to characterize regulatory sandboxes in any sector, involving a blend of (1) approval regulation with broad-based standards, (2) restricted discretion by the regulator for specific norms, (3) process-oriented regulation, (4) an outcomes-orientation, and (5) structured regulator–regulatee information sharing or dialogue. Using this model, the article outlines issues in compliance and legitimacy, including in trust and accountability, responsive enforcement, the politics of participation, and post-sandbox oversight. The article concludes by calling for greater scrutiny when considering implementing a sandbox instrument, with attention to sector-specific concerns, and offering directions for empirical evaluation of regulatory sandboxes. | |
| dc.description.sponsorship | This work was supported by the Australian National University under the Australian Government Research Training Program Scholarship. | |
| dc.format.mimetype | application/pdf | en_AU |
| dc.identifier.issn | 1748-5991 | |
| dc.identifier.uri | https://hdl.handle.net/1885/733750377 | |
| dc.language.iso | en_AU | en_AU |
| dc.provenance | This is an open access article under the terms of the Creative Commons Attribution-NonCommercial License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited and is not used for commercial purposes. | |
| dc.publisher | John Wiley & Sons Inc | |
| dc.rights | ©2022 The authors | |
| dc.rights.license | Creative Commons Attribution licence | |
| dc.rights.uri | https://creativecommons.org/licenses/by-nc/4.0/ | |
| dc.source | Regulation and Governance | |
| dc.subject | compliance | |
| dc.subject | emerging technologies | |
| dc.subject | fintech | |
| dc.subject | flexible regulation | |
| dc.subject | regulatory sandbox | |
| dc.title | Caught in quicksand? Compliance and legitimacy challenges in using regulatory sandboxes to manage emerging technologies | |
| dc.type | Journal article | |
| dcterms.accessRights | Open Access | |
| local.bibliographicCitation.issue | 3 | |
| local.bibliographicCitation.lastpage | 725 | |
| local.bibliographicCitation.startpage | 709 | |
| local.contributor.affiliation | Johnson, Walter, College of Asia and the Pacific, ANU | |
| local.contributor.authoruid | Johnson, Walter, u7164635 | |
| local.description.notes | Imported from ARIES | |
| local.identifier.absfor | 440799 - Policy and administration not elsewhere classified | |
| local.identifier.absseo | 230204 - Public services policy advice and analysis | |
| local.identifier.ariespublication | U5603422xPUB88 | |
| local.identifier.citationvolume | 2023 | |
| local.identifier.doi | 10.1111/rego.12487 | |
| local.publisher.url | https://onlinelibrary.wiley.com/ | |
| local.type.status | Published Version | |
| publicationvolume.volumeNumber | 17 |
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