Investor confidence in financial markets depends in large part on the existence of an accurate disclosure and reporting regime that provides transparency in the beneficial ownership and control structures of publicly listed companies. Today, a common post-financial crisis regulatory reform theme...

This article discusses a trend towards increased empiricism in enforcement reporting by financial regulators that emphasises greater use of numerical indicators. The article examines how the Australian Securities and Investments Commission (ASIC), the UK Financial Conduct Authority (FCA) and the...

Economic theory suggests that sometimes the enforcement of insider trading laws may be more important than the existence of these laws. Is that true? I find that at the end of 2022: (1) Insider trading laws exist in most countries; they are not enforced in many countries; (2) firms in countries...

The international response to corruption raises many important questions: How did corruption become a matter of concern for international law? Was it the result of globalization? Was it the result of a renewed sense of morality around the world? Is this part of a global outcry against the abuse...

This paper shows that judicial enforcement has substantial effects on firms' decisions with regard to their employment policies. To establish causality, I exploit a reorganization of the court districts in Italy involving judicial district mergers as a shock to court productivity. I find that an...

The article provides a high-level overview and comparison of the US and Canadian whistleblower programs. Whereas the US experience has resulted in the recovery of significant unreported tax dollars and successful tax prosecutions, the Canadian whistleblower program has, to date, had limited...