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The sleeping watch dog: aka the Securities and Exchange Commission

The sleeping watch dog: aka the Securities and Exchange Commission Purpose – The purpose of this paper is to expose inefficient regulatory policies and organizational weaknesses at the Securities and Exchange Commission (SEC) that have contributed to a series of regulatory oversights that have produced some of the largest fraud schemes perpetrated on investors. Design/methodology/approach – Sources of information consisted of scholarly articles and articles retrieved from the web. Findings – Findings suggest that although weaknesses that have been exposed at the SEC may not account for any one securities fraud oversight, cumulatively, the weaknesses create negative synergy that increases the probability that a regulatory oversight will occur. Originality/value – This paper serves as a useful guide to alert and educate securities regulators and enforcement, regardless of the country they may operate in, to examine their own regulatory policies and organizational structures for weakness that may be similar to the SEC. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Regulation and Compliance Emerald Publishing

The sleeping watch dog: aka the Securities and Exchange Commission

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Publisher
Emerald Publishing
Copyright
Copyright © 2011 Emerald Group Publishing Limited. All rights reserved.
ISSN
1358-1988
DOI
10.1108/13581981111147856
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to expose inefficient regulatory policies and organizational weaknesses at the Securities and Exchange Commission (SEC) that have contributed to a series of regulatory oversights that have produced some of the largest fraud schemes perpetrated on investors. Design/methodology/approach – Sources of information consisted of scholarly articles and articles retrieved from the web. Findings – Findings suggest that although weaknesses that have been exposed at the SEC may not account for any one securities fraud oversight, cumulatively, the weaknesses create negative synergy that increases the probability that a regulatory oversight will occur. Originality/value – This paper serves as a useful guide to alert and educate securities regulators and enforcement, regardless of the country they may operate in, to examine their own regulatory policies and organizational structures for weakness that may be similar to the SEC.

Journal

Journal of Financial Regulation and ComplianceEmerald Publishing

Published: Jul 26, 2011

Keywords: Securities and Exchange Commission; Fraud; Ponzi schemes; Securities

References