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In the second of an international series of four major workshops, scholars, practitioners, and regulators explore the divergent enforcement agendas followed in the aftermath of the financial benchmark and broader currency manipulation scandals. The workshop builds on the pioneering work of lab on institutional corruption and the Centre for Law, Markets, and Regulation at UNSW on the dynamics of regulatory policy. It assesses the trajectories of the investigative and enforcement process across multiple markets and fuses detailed empirical analysis with recommendations for policy reform linked to a core normative agenda: how to enhance market integrity.
The timing of the workshop is critical. The Governor of the Bank of England, Mark Carney, has stated that the currency manipulation scandal, which involved collusion among traders using electronic chat-rooms with names such as 'The Pirates' and 'The Cartel,' could be even more significant than that into the corruption of the initial London Inter-bank Offered Rate (Libor). It is rendered more so because of the role that agencies such as the Bank of England play as both participants in and overseers of the multi-trillion dollar FX market. The management of those conflicts of interest is critical to the re-building of trust in the capital markets. Has enforcement and regulatory reform gone too far or not far enough? Can securities regulation ever protect against systemic risk? What lessons can be learned from attempts to deal with other manifestations of institutional corruption across the capital markets and other regulatory domains.
Video of this event can be found here.
 | iccm_agenda.pdf | 723 KB |