Securities fraud |
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| Authors: | Norvald Instefjord,Patricia Jackson,& William Perraudin |
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| Affiliation: | Birkbeck College;Bank of England;Birkbeck College, Bank of England and CEPR |
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| Abstract: | Recent frauds in investment banks and securities houses have revealed how vulnerable modern financial institutions are to criminal activity by their employees. In this paper, we examine how regulators may limit the incidence of securities fraud by encouraging firms to provide managers and dealers with appropriate incentives and by imposing ex post penalties once a fraud has been discovered |
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