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Dialectic tensions in the financial markets: a longitudinal study of pre- and post-crisis regulatory technology

Currie, W. L., Gozman, D. P. and Seddon, J. J. M. (2018) Dialectic tensions in the financial markets: a longitudinal study of pre- and post-crisis regulatory technology. Journal of Information Technology, 33 (4). pp. 304-325. ISSN 0268-3962

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To link to this item DOI: 10.1057/s41265-017-0047-5


This article presents the findings from a longitudinal research study on regulatory technology in the UK financial services industry. The financial crisis with serious corporate and mutual fund scandals raised the profile of compliance as governmental bodies, institutional and private investors introduced a ‘tsunami’ of financial regulations. Adopting a multi-level analysis, this study examines how regulatory technology was used by financial firms to meet their compliance obligations, pre- and post-crisis. Empirical data collected over 12 years examine the deployment of an investment management system in eight financial firms. Interviews with public regulatory bodies, financial institutions and technology providers reveal a culture of compliance with increased transparency, surveillance and accountability. Findings show that dialectic tensions arise as the pursuit of transparency, surveillance and accountability in compliance mandates is simultaneously rationalized, facilitated and obscured by regulatory technology. Responding to these challenges, regulatory bodies continue to impose revised compliance mandates on financial firms to force them to adapt their financial technologies in an ever-changing multi-jurisdictional regulatory landscape.

Item Type:Article
Divisions:Henley Business School > Business Informatics, Systems and Accounting
ID Code:73644
Publisher:Palgrave Macmillan


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