Regulatory technologies, risky subjects, and financial boundaries: Governing ‘fraud’ in the financial markets

Among the myriad changes to have impacted the regulation of financial markets in recent years, one of the most significant yet least recognized is the growing role of technology in the regulatory process where it is used to detect emerging problems in the marketplace and guide the enforcement proces...

Full description

Saved in:
Bibliographic Details
Published in:Accounting, organizations and society Vol. 38; no. 6-7; pp. 544 - 558
Main Author: Williams, James W.
Format: Journal Article
Language:English
Published: Oxford Elsevier Ltd 01.08.2013
Pergamon Press
Pergamon Press Inc
Subjects:
Bankenregulierung
Boundaries
Corporate governance
Data Mining
Enforcement
Finanzmarktregulierung
Fraud
Governance
Information technology
Informationssystem
Markets
Profiles
Regulation
Regulation of financial institutions
Securities markets
Studies
Surveillance
Technology
Transactions
Typicality
Visualization
ISSN:0361-3682, 1873-6289
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Among the myriad changes to have impacted the regulation of financial markets in recent years, one of the most significant yet least recognized is the growing role of technology in the regulatory process where it is used to detect emerging problems in the marketplace and guide the enforcement process. Current applications range from surveillance technologies, to datamining and risk profiling tools, to data visualization and graphing programs. Using the term ‘regulatory technologies’, this paper examines in detail two such technologies and assesses not only their benefits and limitations, but also their more subtle role in shaping the very criteria through which financial transactions and market actors are represented, framed, and assessed for their regulatory merit. To the extent that this process hinges on the ability to make distinctions on the grounds of risk, typicality, and appropriateness, these technologies play a critical role in shaping the boundaries of enforcement and thus the scope and depth of the regulatory vision. This is revealed to have significant implications for our understanding of the place of technology in regulation and for the types of questions that must be addressed in discussions of financial governance.
Bibliography:SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 14
ISSN:0361-3682
1873-6289
DOI:10.1016/j.aos.2012.08.001