Policing The Markets

Author: James W. Williams
Publisher: Routledge
ISBN: 1136482989
Size: 42.54 MB
Format: PDF, ePub, Docs
View: 5079
Download Read Online
Set against the backdrop of the recurring waves of financial scandal and crisis to hit Canada, the US, the UK, and Europe over the last decade, this book examines the struggles of securities enforcement agencies to police the financial markets. While allegations of regulatory failure in this realm are commonplace and are well documented in policy and legal scholarship, James Williams seeks to move beyond these conventional accounts arguing that they are based on a limited view of the regulatory process and overlook the actual practices and dilemmas of enforcement work. Informed by interviews with police, regulators, lawyers, accountants, and investor advocates, along with a wealth of documentary materials, the book is rooted in a uniquely interdisciplinary social science perspective. Peering inside the black box of enforcement, it examines the organizational, professional, geographical, technological, and legal influences that shape securities enforcement as a distinctly knowledge-based enterprise. The result of these influences, Williams argues, is the production of a very particular vision of financial disorder which captures certain forms of misconduct while overlooking others, a reflection not of incompetence or capture but of the unique demands and constraints of the regulatory craft. Providing a very different, and much needed, account of the challenges faced by regulators and enforcement agencies, this book will be of enormous interest to current research on enforcement, regulation, and governance both within and beyond the financial realm.

The Origins Of Modern Financial Crime

Author: Sarah Wilson
Publisher: Routledge
ISBN: 1136237739
Size: 62.56 MB
Format: PDF, Kindle
View: 7236
Download Read Online
The recent global financial crisis has been characterised as a turning point in the way we respond to financial crime. Focusing on this change and ‘crime in the commercial sphere’, this text considers the legal and economic dimensions of financial crime and its significance in societal consciousness in twenty-first century Britain. Considering how strongly criminal enforcement specifically features in identifying the post-crisis years as a ‘turning point’, it argues that nineteenth-century encounters with financial crime were transformative for contemporary British societal perceptions of ‘crime’ and its perpetrators, and have lasting resonance for legal responses and societal reactions today. The analysis in this text focuses primarily on how Victorian society perceived and responded to crime and its perpetrators, with its reactions to financial crime specifically couched within this. It is proposed that examining how financial misconduct became recognised as crime during Victorian times makes this an important contribution to nineteenth-century history. Beyond this, the analysis underlines that a historical perspective is essential for comprehending current issues raised by the ‘fight’ against financial crime, represented and analysed in law and criminology as matters of enormous intellectual and practical significance, even helping to illuminate the benefits and potential pitfalls which can be encountered in current moves for extending the reach of criminal liability for financial misconduct. Sarah Wilson’s text on this highly topical issue will be essential reading for criminologists, legal scholars and historians alike. It will also be of great interest to the general reader. The Origins of Modern Financial Crime was short-listed for the Wadsworth Prize 2015.

Municipal Corporate Security In International Context

Author: Kevin Walby
Publisher: Routledge
ISBN: 1317907191
Size: 55.40 MB
Format: PDF, ePub, Docs
View: 7276
Download Read Online
Corporate security is a form of regulation that involves centralized management of access control, physical security, personnel security, and information security inside an organization. For all the research on public policing, national security, and private contract security in sociology, criminology, and related disciplines, little scholarly attention has been paid to corporate security. Increasingly, corporate security is playing an important role in municipal and other government organizations as well as its traditional private, corporate domain. This book is the first social scientific contribution on corporate security to draw together the sociologies of security and policing, legal and social theory, and debates about municipal government. In this book, Walby and Lippert conceptualize various types of corporate security, including its public and private forms, and analyze a range of practices, such as asset protection and physical security provision. The authors explore a number of heretofore neglected themes, including use of legal knowledge, professionalization, legitimation work, and corporate security links with other security agencies and public police. The book provides empirical analyses of developments in several countries, but especially Canada and the US, where corporate security - including its entry into municipal government - is particularly advanced. Because corporate security cuts across security, policing, law, and government, as well as issues of professionalization, public space and democracy, the readership for Municipal Corporate Security in International Context spans disciplinary and national boundaries. It is essential reading for academics and students engaged in studying security, urban governance, politics and legal regulation. It will be of great interest to corporate security professionals and government policymakers too.

Corporate Security In The 21st Century

Author: Kevin Walby
Publisher: Springer
ISBN: 1137346078
Size: 21.60 MB
Format: PDF, ePub
View: 7177
Download Read Online
This interdisciplinary collection places corporate security in a theoretical and international context. Arguing that corporate security is becoming the primary form of security in the twenty-first century, it explores a range of issues including regulation, accountability, militarization, strategies of securitization and practitioner techniques.

Punished

Author: Victor M. Rios
Publisher: NYU Press
ISBN: 081477637X
Size: 48.15 MB
Format: PDF, ePub
View: 2381
Download Read Online
The author discusses his background as a former gang member and juvenile delinquent in Oakland, California, during the 1980s and 1990s, details his efforts to study the lives of young men from his neighborhood after earning a PhD in sociology at Berkeley, and emphasizes the importance of understanding in order to develop solutions for young men who live in a culture of punishment.

The Black Box Society

Author: Frank Pasquale
Publisher: Harvard University Press
ISBN: 0674967100
Size: 74.85 MB
Format: PDF, ePub, Mobi
View: 3944
Download Read Online
Every day, corporations are connecting the dots about our personal behavior—silently scrutinizing clues left behind by our work habits and Internet use. But who connects the dots about what firms are doing with all this information? Frank Pasquale exposes how powerful interests abuse secrecy for profit and explains ways to rein them in.

Black Edge

Author: Sheelah Kolhatkar
Publisher: Random House
ISBN: 0812995813
Size: 64.71 MB
Format: PDF, ePub, Mobi
View: 6592
Download Read Online
NEW YORK TIMES BESTSELLER • The story of the billionaire trader Steven A. Cohen, the rise and fall of his hedge fund, SAC Capital, and the largest insider trading investigation in history—for readers of The Big Short, Den of Thieves, and Dark Money and fans of Showtime’s Billions. NAMED ONE OF THE TEN BOOKS OF THE YEAR BY JENNIFER SENIOR, NEW YORK TIMES • Longlisted for the Andrew Carnegie Medals for Excellence and FT & McKinsey Business Book of the Year 2017 The rise over the last two decades of a powerful new class of billionaire financiers marks a singular shift in the American economic and political landscape. Their vast reserves of concentrated wealth have allowed a small group of big winners to write their own rules of capitalism and public policy. How did we get here? Through meticulous reporting and powerful storytelling, New Yorker staff writer Sheelah Kolhatkar shows how Steve Cohen became one of the richest and most influential figures in finance—and what happened when the Justice Department put him in its crosshairs. Cohen and his fellow pioneers of the hedge fund industry didn’t lay railroads, build factories, or invent new technologies. Rather, they made their billions through speculation, by placing bets in the market that turned out to be right more often than wrong—and for this they have gained not only extreme personal wealth but formidable influence throughout society. Hedge funds now manage nearly $3 trillion in assets, and competition between them is so fierce that traders will do whatever they can to get an edge. Cohen was one of the industry’s greatest success stories. He mastered poker in high school, went off to Wharton, and in 1992 launched SAC Capital, which he built into a $15 billion empire, almost entirely on the basis of his wizardlike stock trading. He cultivated an air of mystery, reclusiveness, and extreme excess, building a 35,000 square foot mansion in Greenwich, Connecticut, and amassing one of the largest private art collections in the world. On Wall Street, Cohen was revered as a genius. That image was shattered when SAC became the target of a sprawling, seven-year government investigation. Labeled by prosecutors as a “magnet for market cheaters” whose culture encouraged the relentless hunt for “edge”—and even “black edge,” or inside information—SAC was ultimately indicted in connection with a vast insider trading scheme, even as Cohen himself was never charged. Black Edge offers a revelatory look at the gray zone in which so much of Wall Street functions, and a window into the transformation of the U.S. economy. It’s a riveting, true-life legal thriller that takes readers inside the government’s pursuit of Cohen and his employees, and raises urgent questions about the power and wealth of those who sit at the pinnacle of modern Wall Street.

Housing Finance Policy In Emerging Markets

Author: Loic Chiquier
Publisher: World Bank Publications
ISBN: 0821377515
Size: 37.55 MB
Format: PDF, ePub, Mobi
View: 5273
Download Read Online
Housing finance markets have been changing dramatically in both emerging and developed economies. On the one hand, housing finance markets are expanding and represent a powerful engine for economic growth in many emerging economies. However, the unfolding sub-prime mortgage crisis highlights the risks and potential turbulence that this sector can introduce into the financial system when expanding without proper infrastructure and regulation. As housing finance keeps growing in emerging economies to match a rising demand for housing, new risk management approaches, business models, funding tools, and policy instruments can help. Yet many questions remain about the right balance between innovation and regulation, the extent of risks to the financial system, the appropriate role of the state to promote affordable housing, and the effects of the sub-prime crisis. This book provides a guide for policymakers dealing with housing finance in emerging markets. It highlights the prerequisites for an effective housing finance system; it lays out several policy alternatives and models of housing finance; and it explores the role of governments in expanding access to housing finance for lower-income households. There is no "best" model set out in this book. The aim is to provide a developmental roadmap that can be tailored and sequenced to each country's situation and timing.

Going Public

Author: Norm Champ
Publisher: McGraw Hill Professional
ISBN: 125986121X
Size: 12.96 MB
Format: PDF, ePub
View: 2671
Download Read Online
An insider’s look at the SEC and the changes needed to strengthen the U.S. financial system In 2008, Americans were reeling from the devastating financial crisis that caused the Great Recession. There were searing questions about how the crisis was allowed to happen and calls for immediate reform from Capital Hill, the news media, and the general public. Multiple scandals sent real fear through the investing community and brought unprecedented heat on the Securities and Exchange Commission (SEC). There was little doubt that the SEC had to fix rules that permitted bad behavior, shake off decades of complacency and enforce existing laws. Wall Street lawyer Norm Champ spent nearly 20 years dealing with the SEC on behalf of his clients and as an industry representative working to educate the agency about hedge funds. Believing he could help reform the deeply-flawed agency, Champ left his career in the private sector and joined the SEC. As Director of the Division of Investment Management, he became a key player in stabilizing trillions of dollars of investor capital while reenergizing the SEC’s culture and management. In Going Public, Champ presents a rare, insider’s look at how the SEC operates and explains exactly how the agency impacts the overall economic health of the country. He examines the inner workings of hedge funds, economic policy and politics, investing, and inefficient and frustrating federal agencies. Engrossing and important, this book offers critical recommendations for policy changes that will create healthy, free-functioning markets and help Americans better prepare for the inevitable next crisis.

Building Resilience

Author: Daniel P. Aldrich
Publisher: University of Chicago Press
ISBN: 0226012891
Size: 28.45 MB
Format: PDF, ePub
View: 6299
Download Read Online
Each year, natural disasters threaten the strength and stability of communities worldwide. Yet responses to the challenges of recovery vary greatly and in ways that aren’t explained by the magnitude of the catastrophe or the amount of aid provided by national governments or the international community. The difference between resilience and disrepair, as Daniel P. Aldrich shows, lies in the depth of communities’ social capital. Building Resilience highlights the critical role of social capital in the ability of a community to withstand disaster and rebuild both the infrastructure and the ties that are at the foundation of any community. Aldrich examines the post-disaster responses of four distinct communities—Tokyo following the 1923 earthquake, Kobe after the 1995 earthquake, Tamil Nadu after the 2004 Indian Ocean Tsunami, and New Orleans post-Katrina—and finds that those with robust social networks were better able to coordinate recovery. In addition to quickly disseminating information and financial and physical assistance, communities with an abundance of social capital were able to minimize the migration of people and valuable resources out of the area. With governments increasingly overstretched and natural disasters likely to increase in frequency and intensity, a thorough understanding of what contributes to efficient reconstruction is more important than ever. Building Resilience underscores a critical component of an effective response.