Ouarda Merrouche

Digging for gold: How regulatory sandboxes help fintechs raise funding Giulio Cornelli, Sebastian Doerr, Leonardo Gambacorta, Ouarda Merrouche 02 February 2021 The rapid growth of innovative companies that use new technology has the potential to transform the financial sector fundamentally. This column shows that regulatory sandboxes – a prominent and widely adopted regulatory tool to spur innovation in the financial sector while staying alert to new risks – help these fintechs raise capital.

Summary Focus The rise of fintechs promises to spur competition in the financial sector. This could lead to sizeable efficiency gains, more choice for consumers, and enhanced financial inclusion. However, the potentially disruptive growth of firms offering novel products and services poses new challenges for financial stability and consumer protection.

Regulatory arbitrage and the G20’s global derivatives market reform Pauline Gandré, Mike Mariathasan, Ouarda Merrouche, Steven Ongena 30 June 2020 Managing global financial risks requires coordinated policies and a firm commitment by national actors. In the absence of such commitment, risks are reallocated and concentrate where they are least effectively addressed.