Europejski Urząd Nadzoru Bankowego, Europejski Urząd Nadzoru Giełd i Papierów Wartościowych (European Securities and Markets Authority - ESMA), Europejski Urząd Nadzoru Ubezpieczeń i Pracowniczych Programów Emerytalnych (European Insurance and Occupational Pensions Authority - EIOPA), Raport na temat funkcjonowania podmiotów ułatwiających wprowadzanie innowacji - centrów innowacji i piaskownic regulacyjnych

ESA 2023 27

11 December 2023

Report

Update on the functioning of innovation facilitators – innovation hubs and regulatory sandboxes

Executive summary

Following the 2019 Report of the European Supervisory Authorities (ESAs) on innovation hubs and regulatory sandboxes (herein referred to as innovation facilitators) , this report provides an updated overview of the design and operation of innovation facilitators, observed practices, challenges and limitations faced by competent authorities. The report sets out a series of considerations and recommendations for further enhancing the role of innovation facilitators and their effectiveness.

The outcome of the ESAs’ analysis suggests that innovation hubs and regulatory sandboxes continue to be the main types of solutions preferred by the regulators and supervisors to facilitate innovation in the financial sector across the EEA. As of October 2023, there were 41 innovation hubs, with at least one in all 30 EEA countries, and 14 regulatory sandboxes...