Corruption and Fraud in Financial Markets: Malpractice, Misconduct and Manipulation

ISBN-10: 1119421772
ISBN-13: 9781119421771
Category: Business & Economics
Pages: 624
Language: English
Published: 2020-05-26
Publisher: John Wiley & Sons
Authors: Carol Alexander, Douglas Cumming

Description

Identifying malpractice and misconduct should be top priority for financial risk managers today Corruption and Fraud in Financial Markets identifies potential issues surrounding all types of fraud, misconduct, price/volume manipulation and other forms of malpractice. Chapters cover detection, prevention and regulation of corruption and fraud within different financial markets. Written by experts at the forefront of finance and risk management, this book details the many practices that bring potentially devastating consequences, including insider trading, bribery, false disclosure, frontrunning, options backdating, and improper execution or broker-agency relationships. Informed but corrupt traders manipulate prices in dark pools run by investment banks, using anonymous deals to move prices in their own favour, extracting value from ordinary investors time and time again. Strategies such as wash, ladder and spoofing trades are rife, even on regulated exchanges – and in unregulated cryptocurrency exchanges one can even see these manipulative quotes happening real-time in the limit order book. More generally, financial market misconduct and fraud affects about 15 percent of publicly listed companies each year and the resulting fines can devastate an organisation’s budget and initiate a tailspin from which it may never recover. This book gives you a deeper understanding of all these issues to help prevent you and your company from falling victim to unethical practices. Learn about the different types of corruption and fraud and where they may be hiding in your organisation Identify improper relationships and conflicts of interest before they become a problem Understand the regulations surrounding market misconduct, and how they affect your firm Prevent budget-breaking fines and other potentially catastrophic consequences Since the LIBOR scandal, many major banks have been fined billions of dollars for manipulation of prices, exchange rates and interest rates. Headline cases aside, misconduct and fraud is uncomfortably prevalent in a large number of financial firms; it can exist in a wide variety of forms, with practices in multiple departments, making self-governance complex. Corruption and Fraud in Financial Markets is a comprehensive guide to identifying and stopping potential problems before they reach the level of finable misconduct.

Get the book

Other editions

Corruption and Fraud in Financial Markets: Malpractice, Misconduct and Manipulation
- 2022-12-13
- 624 pages
- Ebook
- John Wiley & Sons

Similar books

Corporate Fraud and Corruption: A Holistic Approach to Preventing Financial Crises
By M. Krambia-Kapardis
“Victims of Fraud: Comparing Victims of White Collar and Violent Crime.” Bulletin of the American Academy of Psychiatry and the Law 18, no. 1 (1990): 55–62. Gay, Grant, and Simnett, Roger. Auditing and Assurance Services in Australia ...
Fraud in the Markets: Why It Happens and How to Fight It
By Peter Goldmann
Praise for Fraud Markets "Peter Goldmann has written a fascinating book on the financial markets and the devastating impact of fraud and ethical erosion. His historical commentary is reason enough to read this book.
Fraud in Financial Statements
By Julie E. Margret, Geoffrey Peck
But what constitutes quality in financial statements? This book examines financial statement fraud, a topical and increasingly challenging area for financial accounting, business, and the law.
Accounting Fraud, Second Edition: Maneuvering and Manipulation, Past and Present
By Gary Giroux
Scorpions: The battles and triumphs of FDR's great Supreme Court justices. New York, NY: Twelve (Hachette Book Group). Ferguson, E.J. (1971). The American Revolution: A general history, 1763—1790. Homewood, OK: The Dorsey Press.
Contemporary Issues in the Post-Crisis Regulatory Landscape
By Imad A Moosa
The book deals with contemporary issues in financial regulation, given the post-crisis regulatory landscape.
Financial Crime in China: Developments, Sanctions, and the Systemic Spread of Corruption
By Hongming Cheng
Cheng presents an authentic picture of financial crime in China by identifying the latest manifestations, analyzing empirical data and case studies, and drawing conclusions about the origin, characteristics, dynamics, and developmental ...
Theft of a Nation: Wall Street Looting and Federal Regulatory Colluding
By Gregg Barak
Through the lenses of white collar crime and victimology, the book presents a critical assessment of the economic and political elites who were responsible, shows how Americans were victimized, and assesses the resulting regulation.
The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry
By William K. Black
His book is a wake-up call for everyone who believes that market forces alone will keep companies and their owners honest. “Bill Black has detailed an alarming story about financial and political corruption.” —Paul Volcker “Persons ...
Financial Crimes: A Threat to Global Security
By Peter C. Kratcoski, Michael Theil, Maximillian Edelbacher
The book examines the diverse models of preventing security threats that have grown from that idea as well as the gradual expansion of the role of the security council of the United Nations.
Accounting Fraud: Maneuvering and Manipulation, Past and Present
By Gary Giroux
This book brings to light the importance of incenÂtive structures of key players, consideration of economic and psychological perspectives on behavior, and the need for increasingly efÂfective regulation, which become more obvious by ...