This book offers a commentary on the responses to white collar crime since the financial crisis. The book brings together experts from academia and practice to analyse the legal and policy responses that have been put in place following the 2008 financial crisis. The book looks at a range of topics including: the low priority and resources allocated to fraud; EU regulatory efforts to fight financial crime; protecting whistleblowers in the financial industry; the criminality of the rogue trader; the evolution of financial crime in cryptocurrencies; and the levying of financial penalties against banks and corporations by the US Department of Justice and Securities and Exchange Commission.
1. Introduction, Nicholas Ryder, Umut Turksen and Jon Tucker 2. The 2008 Financial Crisis and Fraud: Examining the Causes and the Response through the Concepts of Deviancy Attenuation, Delabelling and Immoral Phlegmatism Mark Button and Martin Tunley 3. The importance of whistleblowers in uncovering financial misconduct in Potemkin villages Alison Lui 4. Rogues in the City Paul Keenan 5. The Systemic Role of Technology in financial instability Dionysios Demetis 6. The finance industry perspective Jon Tucker 7. Market Abuse Regime as a Mechanism of Regulatory Reform Andrew H Baker 8. A new challenge for the FCA: Establishing ‘appropriate’ consumer protection in the consumer credit market in light of the 2008 financial crisis Daniel Jasinski 9. Legislation and regulation in response to financial crime - Pursuing ghosts? Andrew Haynes 10. Independence and protection of accountants and auditors in the EU AML Framework Rhian Dow and Umut Turksen 11. Post-crisis regulation and prosecutions in financial crime: progress or paradox? Gauri Sinha 12. The financial crisis and its relationship with white collar crime in the United States of America: time for the Feds to fight back? Axel Palmer 13. The National Crime Agency: A Critical Analysis of its Potential Impact on the UK’s Financial Crime Policy Christopher Recker 14. Financial Crises and Financial Crime: ‘Conscious coupling’ and "transformative understandings" of crime past, present and future Sarah Wilson
While a growing number of high profile financial crime cases have hit the headlines recently the topic of financial crime is also generating much attention amongst academics and practitioners. This series will be the first to be dedicated to the law of financial, or economic, crime and offers a platform for important and original research in this area.
Books in the series will cover traditional subjects of financial crime including money laundering, terrorist financing, fraud, market abuse, insider dealing, market manipulation, tax evasion, bribery and corruption. But broader legal and regulatory issues will also be covered as well as emerging areas of concern such as the risks to stability of the financial system posed by financial crime. Emphasis will be placed on comparative approaches to the subject considering legislation across a number of jurisdictions as well as international regulations where appropriate, giving the series a truly global outlook.
The titles in the series are primarily aimed at an audience of researchers, scholars and practitioners in the area but should also be of interest to policy makers, law enforcement agencies, financial regulatory agencies, as well as people employed within the financial services sector.