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...

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Vydáno v:Accounting, organizations and society Ročník 38; číslo 6-7; s. 544 - 558
Hlavní autor: Williams, James W.
Médium: Journal Article
Jazyk:angličtina
Vydáno: Oxford Elsevier Ltd 01.08.2013
Pergamon Press
Pergamon Press Inc
Témata:
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
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Shrnutí: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.
Bibliografie:SourceType-Scholarly Journals-1
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ISSN:0361-3682
1873-6289
DOI:10.1016/j.aos.2012.08.001