Regulating Against White Collar Crime in the Financial Services Sector

As globalization gather pace, national economies are becoming more internationalized and inter-dependent, and the power of individual nation states is being diminished in relative terms. Increasingly individual countries are less able to control their national economies. One consequence of these developments is that regulatory structures and processes are becoming more internationalized and a variety of modes of global governance are emerging. Although there is a trend towards growing regulatory harmonization, different national and cultural influences impact upon national systems of regulation, and in international contexts these values may conflict. Given these developments it is becoming increasingly important to understand how regulatory structures and standards function in different countries. Two elements that are constant in nearly all jurisdictions are the acknowledgement of public interests concerns in regulatory systems and the need for compliance with regulatory standards. This paper considers the issue of regulating against white collar crime in the financial services sector in the contexts of promoting regulatory compliance and the representation of notions of the public interest