[PDF] Regulating Fraud Across Borders eBook

Author : Edgardo Rotman
Publisher : Bloomsbury Publishing
Page : 240 pages
File Size : 38,64 MB
Release : 2021-02-25
Category : Law
ISBN : 1509943218

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At a time when financial crime routinely crosses international boundaries, this book provides a novel understanding of its spread and criminalisation. It traces the international convergence of financial crime regulation with a uniquely comparative approach that examines key institutional and state actors including the European Union, the International Organization of Securities Commissions, as well as the United States, the United Kingdom, Switzerland, France, Italy and Germany, all countries that harbour some of the most influential stock exchanges in the Western world. The book describes and documents the phenomenon of internationalisation of securities frauds – such as insider trading and market manipulation – and the laws criminalising those acts, most notably those responding to recent dramatic transformations in securities markets, high frequency trading, and benchmark manipulation. At the European level, it shows the progressive uniformisation of laws culminating in the 2014 European Union Market Abuse Regulation. The book argues that criminal prohibitions against internationalised market abuse must be understood as an economic and legal imperative to protect financial markets against activities that imperil its integrity, compromising the confidence of investors and thus affecting the economy as a whole. The book is supported by an extensive review of the most significant scholarship in each country.

Author : Edgardo Rotman
Publisher : Bloomsbury Publishing
Page : 349 pages
File Size : 42,67 MB
Release : 2021-02-25
Category : Law
ISBN : 150994320X

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This book provides a uniquely comparative approach to the examination of financial crime regulation. At a time when financial crime routinely crosses international boundaries, this book provides a novel understanding of its spread and criminalisation. It traces the international convergence of financial crime regulation with a uniquely comparative approach that examines key institutional and state actors including the European Union, the International Organization of Securities Commissions, as well as the United States, the United Kingdom, Switzerland, France, Italy and Germany, all countries that harbour some of the most influential stock exchanges in the Western world. The book describes and documents the phenomenon of internationalisation of securities frauds – such as insider trading and market manipulation – and the laws criminalising those acts, most notably those responding to recent dramatic transformations in securities markets, high frequency trading, and benchmark manipulation. At the European level, it shows the progressive uniformisation of laws culminating in the 2014 European Union Market Abuse Regulation. The book argues that criminal prohibitions against internationalised market abuse must be understood as an economic and legal imperative to protect financial markets against activities that imperil its integrity, compromising the confidence of investors and thus affecting the economy as a whole. The book is supported by an extensive review of the most significant scholarship in each country.

Author : Devesh Raval
Publisher :
Page : 0 pages
File Size : 20,72 MB
Release : 2022
Category :
ISBN :

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We build a theoretical framework for cross-border fraud in which fraud complaints follow a gravity model. Using several large databases of consumer complaints, we show empirically that complaints do exhibit gravity; compared to trade volumes, cultural distance is more important and physical distance less important for complaints. We then use the gravity model estimates to estimate country-level fraud rates and identify clusters of countries with high fraud rates. Finally, in line with our model predictions, high fraud rates are negatively correlated with per-capita GDP and measures of strong regulatory institutions.

Author : Richard H. Girgenti
Publisher : McGraw-Hill Education
Page : 336 pages
File Size : 15,88 MB
Release : 2016-05-04
Category : Business & Economics
ISBN : 9781259584596

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Mitigate risk and achieve high-level business performance in today’s regulatory and enforcement environment The outset of the 21st century has seen a relentless flow of events from the 9/11 terrorist attack to the 2008 financial recession that have given birth to a new regulatory and enforcement landscape. In today’s global and digital world, this increasingly complex landscape has created unprecedented challenges and risks for businesses in all industries. The New Era of Regulatory Enforcement provides an overview of the challenges companies face in conducting business in this new environment. It discusses the government policies, strategies and tactics driving enforcement activity and outlines the most effective approaches for preventing, detecting, and responding to the risks presented. Authors Rich Girgenti and Tim Hedley--two highly experienced professionals at KPMG who daily work with organizations around the globe to help them understand and manage these challenges--draw upon their years of experience in both the private and public sector to provide an overview of the new regulatory and enforcement landscape and a framework for compliance. Assisted by a team of subject matter professionals, the book covers a broad range of topics including: · bribery and corruption · money laundering and trade sanctions · market manipulation · financial reporting fraud · off-shore tax evasion · unfair and abusive consumer finance practices, and · fraud and misconduct in the Healthcare and Life Sciences industries Prudent and diligent organizations must take the necessary steps to preserve the hard-earned value of their companies. In doing so, they will not only help improve their chances for sustainable business success, but also create benefit for their employees, shareholders, customers, and the public at large.

Author : World Bank
Publisher : World Bank Publications
Page : 241 pages
File Size : 24,12 MB
Release : 2019-11-21
Category : Business & Economics
ISBN : 1464814414

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Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.

Author : Mahmood Bagheri
Publisher : Kluwer Law International B.V.
Page : 314 pages
File Size : 48,32 MB
Release : 2000-12-06
Category : Business & Economics
ISBN : 9041198105

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The growth of national economic regulation and the process of globalisation increasingly expose international transactions to an array of regulations from different jurisdictions. These developments often contribute to widespread international contractual failures when parties claim the incompatibility of their contractual obligations with regulatory laws. The author challenges conventional means of dispute resolution and argues for an interdisciplinary approach whereby disciplines such as international economic law, conflict of laws, contract law and economic regulations are functionally united to resolve international and multifaceted regulatory disputes. He identifies the normative foundation of contract law as an important determinant in this process, contending that contract law is essentially neutral and underpinned by the concept of corrective justice, while economic regulations are mainly prompted by distributive justice. Applying this corrective/distributive justice dichotomy to international contracts, the author critically assesses major conflict of laws approaches such as `proper law', `the Rome Convention' and `governmental interest analysis', which could disregard either public interest or private rights. The author, taking these theories into account, proposes an alternative two-dimensional interest analysis approach. He tests the viability of this approach with reference to arbitral awards and court decisions in various jurisdictions and concludes that it uniquely fits into the structure of international commercial arbitration. In adopting this approach arbitrators would take into account both corrective and distributive justice, and to the extent that corrective justice prevails, would be able to avert a total failure of the contract.

Author : Christian Twigg-Flesner
Publisher : Springer Science & Business Media
Page : 91 pages
File Size : 31,35 MB
Release : 2011-11-16
Category : Law
ISBN : 1461420474

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For almost three decades, the European Union (EU) has adopted measures to regulate consumer transactions within the internal market created by the EU Treaties. Existing legislation is largely based on directives harmonizing aspects of national consumer laws. This Brief argues that a more appropriate approach for EU consumer law would be legislation in the form of a regulation which is applicable to cross-border transactions only. The author considers the constitutional constraints of the EU Treaties, before examining the case for a cross-border-only measure. He argues that the cross-border approach is preferable, because it would provide clearer benefits for consumers seeking to buy goods and services across borders, while not upsetting domestic law unnecessarily—in particular in the context of e-commerce, with implications for industry, policymaking, and regional development. The Brief concludes by suggesting that a successful EU measure on cross-border consumer transactions could create a template for global initiatives for transnational consumer law.

Author : Roberts, M.T., Viinikainen, T., Bullon, C.
Publisher : Food & Agriculture Org.
Page : 68 pages
File Size : 36,92 MB
Release : 2022-04-05
Category : Political Science
ISBN : 9251359040

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Food fraud has beset governments for centuries, and the legal responses to it have been uniquely suited to the sensibilities of the time. This publication follows the concept of food fraud described to occur when a fraudster intentionally deceives a customer about the quality and/or contents of the foods they wish to purchase, and such act is done to obtain an undue advantage, most often economic, for the fraudster. The vastness and complexity of food fraud, and the versatility in regulatory approaches can challenge national governments in their attempts to develop a coherent, focused approach to food fraud. To respond to this challenge, this paper introduces the available international regulatory guidance and the potential legal strategies at the national and regional level. It identifies and analyses some of the regulatory approaches to food fraud that countries have chosen and pays attention to the role of the private sector in food fraud regulation.

Author : Eilís Ferran
Publisher : Cambridge University Press
Page : 433 pages
File Size : 35,61 MB
Release : 2012-11-15
Category : Law
ISBN : 1139851780

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The EU and the US responded to the global financial crisis by changing the rules for the functioning of financial services and markets and by establishing new oversight bodies. With the US Dodd–Frank Act and numerous EU regulations and directives now in place, this book provides a timely and thoughtful explanation of the key elements of the new regimes in both regions, of the political processes which shaped their content and of their practical impact. Insights from areas such as economics, political science and financial history elucidate the significance of the reforms. Australia's resilience during the financial crisis, which contrasted sharply with the severe problems that were experienced in the EU and the US, is also examined. The comparison between the performances of these major economies in a period of such extreme stress tells us much about the complex regulatory and economic ecosystems of which financial markets are a part.