Criminology Seminar Series - Taming the Markets: Policing Misconduct in Financial Services
When:
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Venue:
Birkbeck Main Building, Malet Street
No booking required
Taming the Markets: Policing Misconduct in Financial Services
Speaker: Dr. Aleksandra Jordanoska (Dickson Poon School of Law, King’s College London)
Abstract:
Financial services are a complex industry in which the intermediation of capital is inherently underpinned by the promotion of innovation, risk-taking and the use of technological advancements in trading strategies. Financial markets are of particular significance to many national economies, yet large-scale market failures such as the turmoil of the 2008 financial crisis and the wide-spread manipulation of trading benchmarks by global investment banks, most immediately reveal the extensive harmful consequences of misconduct and corporate crime in finance. The markets’ complex nature is equally reflected in the special challenges regulators and prosecutors alike face in detecting, investigating and sanctioning non-compliance and crime within them. This paper uses theoretical and analytical tools from critical criminology and regulation theory scholarship to examine the policing of misconduct and corporate crime in finance through regulatory and criminal justice approaches. It adopts a social constructivist perspective to make sense of how public agencies carve out their remit with respect to the oversight and control of misconduct in financial markets; and how policy considerations and cyclicality shape enforcement priorities, targets and perceptions of what is to be enforced within the financial crime context. These issues are considered in the context of three recent case studies of social control responses to: the manipulation of the LIBOR trading benchmarks, insider dealing, and bribery and corruption in the UK financial markets. The purposes of this paper are two-fold: to identify the complex role of social control agencies and their institutional priorities upon controlling misconduct in the financial markets; and to reconceptualise our understanding of the contemporary system of controlling business misconduct in general to encompass a broader network of public and private organisations concerned with risk priorities in different sectors.
About the Speaker
Dr Aleksandra Jordanoska is Lecturer at the Dickson Poon School of Law, King’s College London. Her research broadly engages with modes of governance in financial markets, the control of financial crime and corporate crime, and the regulation of financial technologies. She has published papers on the mechanics of market manipulation offences; complex fraud; and the control of financial crime, and is co-author, together with David Friedrichs and Isabel Schultz, of Key Thinkers in Criminology: Edwin Sutherland (Routledge, 2017). Aleksandra has recently been Visiting Scholar at the Centre for the Study of Law & Society, University of California, Berkeley, and is the co-chair of the Collaborative Research Network in Regulatory Governance of the American Law and Society Association.
About the Criminology Seminar Series
In line with the School of Law, Birkbeck's research and teaching ethos, the Criminology Seminar Series aims to provide a platform for critical and interdisciplinary research, showcasing prominent and path-breaking research on crime, criminal justice and related themes by scholars from within and beyond Birkbeck. The series is convened by Dr Sappho Xenakis, School of Law, Birkbeck.
Attendance to the events is free but registration is required. Talks from the 2018/19 series will be available for download via the website. Find out more about the series here. The hashtag for the event is #BBKCrimSeries.
This event is free however booking is required via this page.
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