XXI Majsko savetovanje (2025) SAVREMENO PRAVO U ERI DIGITALIZACIJE I ODRŽIVOG RAZVOJA (635-653 str.)
AUTOR(I) / AUTHOR(S): Tatjana Jovanić 
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DOI: 10.46793/XXIMajsko.635J
SAŽETAK / ABSTRACT:
Digitization and the growing duty to comply with various sustainability requirements change the face of modern business. In such an environment, the role of the legal norm is not only to introduce specific requirements for products, services, and business models but also to avoid hindering technological innovation, on the one hand, and, on the other hand, precisely to set sustainability standards for business innovations that would prevent their negative effects on the environment and society.
Contemporary regulatory systems include various mechanisms that precede a specific regulatory regime’s formal ‘legalisation’. One of those instruments is the so- called regulatory sandbox. The sandbox represents not a novel legal institution but an innovation in the regulatory process. It is a kind of regulatory conversation within a space where businesses and their interactions are temporarily monitored by the supervisor, who aims to bridge the regulatory gaps and mitigate risks to public interest goals.
This Paper provided a brief review of the regulatory sandbox concept and offered two examples: one referring to digitization in financial services and the other to the importance of this mechanism in achieving sustainable business conduct through the prism of Competition law.
KLJUČNE REČI / KEYWORDS:
Regulatory sandbox, Sustainability, Regulatory experimentation, Competition policy, Financial Innovation
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