Legal Norms in the Internationalization of Securities Markets: Financial Criminality under Scrutiny
Type de matériel :
TexteLangue : français Détails de publication : 2009.
Sujet(s) : Ressources en ligne : Abrégé : Technological change has resulted in the internationalization of the securities industry. Insider trading is emblematic of the difficulty in regulating the system. Firstly, the behavior of public authorities is often ambiguous because they are anxious to encourage the activity of the stock market. Secondly, new instruments of communication are waywardly used by operators, especially through the introduction of “off shore” locations into the global system of securities. Thirdly, despite the wide circulation of the American model of transparency, opacity remains the rule on account of the diversity of legal norms, the variety of accounting rules, and the anonymity of transactions.
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Technological change has resulted in the internationalization of the securities industry. Insider trading is emblematic of the difficulty in regulating the system. Firstly, the behavior of public authorities is often ambiguous because they are anxious to encourage the activity of the stock market. Secondly, new instruments of communication are waywardly used by operators, especially through the introduction of “off shore” locations into the global system of securities. Thirdly, despite the wide circulation of the American model of transparency, opacity remains the rule on account of the diversity of legal norms, the variety of accounting rules, and the anonymity of transactions.
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