skip navigation


Register for Latest Research

Stay Informed
Register with NCJRS to receive NCJRS's biweekly e-newsletter JUSTINFO and additional periodic emails from NCJRS and the NCJRS federal sponsors that highlight the latest research published or sponsored by the Office of Justice Programs.

NCJRS Abstract

The document referenced below is part of the NCJRS Virtual Library collection. To conduct further searches of the collection, visit the Virtual Library. See the Obtain Documents page for direction on how to access resources online, via mail, through interlibrary loans, or in a local library.


NCJ Number: 229830 Find in a Library
Title: Governence of Securities: Ponzi Finance, Regulatory Convergence, Credit Crunch
Journal: British Journal of Criminology  Volume:50  Issue:1  Dated:January 2010  Pages:23-45
Author(s): Nicholas Dorn
Date Published: January 2010
Page Count: 23
Format: Article
Language: English
Country: United Kingdom
Annotation: This paper discusses the international market crisis.
Abstract: The unfolding market crisis reveals evasions of regulatory controls and frauds that were less visible in buoyant markets. International networking of regulators and those they regulated resulted in convergence of regulatory standards - and creation of common 'blind spots' - corresponding to private-sector assumptions, 'models', data, and mood. Moving forward, this paper suggests that the literature on security governance can be used to reframe market regulation. Going against calls for a tightening of convergence between regulatory regimes, the paper argues for regulatory diversity as a means for reducing market 'herding' and the consequent systemic risks. Regulatory diversity would correspond to a political strategy of democratic steering of regulatory agencies, diluting, if not displacing, the currently dominant notion of financial market regulation as a purely 'technical' discourse. In concrete terms, this implies shifting systemic regulatory oversight responsibilities away from 'independent' agencies to government bodies and/or departments that are held accountable to their parliaments and electorates. References (Published Abstract)
Main Term(s): Criminology
Index Term(s): Banking and Finance Infrastructure Protection; Financial institutions; Regulations; Regulatory agencies; Securities fraud
To cite this abstract, use the following link:

*A link to the full-text document is provided whenever possible. For documents not available online, a link to the publisher's website is provided. Tell us how you use the NCJRS Library and Abstracts Database - send us your feedback.