This book provides an original theoretically and empirically grounded
analysis of regulatory enforcement activism in post-crisis periods and
the ensuing regulatory interactions. It critically addresses the
‘more regulation’ enforcement agenda relating to financial
misconduct in the aftermath of the 2008 financial crisis, showing how
misconduct was constructed through the enforcement policies and
practices of the powerful UK financial conduct regulator and its
interactions with the subjects of enforcement proceedings and their
legal representatives during a tumultuous time in the financial
markets. Drawing from interviews with regulators, professional
intermediaries, and markets participants; documentary analysis of
enforcement decisions and speeches; and observations, the volume
adopts an interdisciplinary approach grounded in social constructivist
perspectives on compliance and deviance, regulation theory, and
socio-legal research. Through a multi-dimensional analytical framework
of regulatory enforcement activism that links shifts in regulatory
policymaking; experimentations with legal powers in
information-gathering, legal and extra-legal penalties, and individual
accountability; and the use of enforcement tools in micro-level
interactions, the book documents a more interventionist and punitive
post-crisis enforcement agenda. The findings challenge current
thinking in the 'scandal and reform' literature. The work argues that
despite the increased focus on enforcement, it is not necessarily the
case that the power has tilted more towards the regulator. This
fine-grained socio-legal enquiry makes innovative and timely
theoretical contributions to our understanding of the limitations of
regulatory activism and regulatory control, regulatory relationships,
the governance of financial markets, and broader thinking on
regulating corporations and the individuals within them. It will
appeal to academics, researchers, regulators, and policymakers working
in regulation across law, criminology, sociology, and politics.
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Enforcement and Adaptation
Produktdetaljer
ISBN
9781351069304
Publisert
2024
Utgave
1. utgave
Utgiver
Vendor
Routledge
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter