Fraudulent Corporate Transactions: Reworking Regulating Silos

Dr. Paramjyot Singh
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Abstract

Recent times are witness to corporate frauds of various kinds and dimensions. They effect companies and financial entities of all size, sector and region and have taken for surprise the law enforcement agencies of the very advanced and developed economies as well as the developing or the developed ones, with high growth rate. Stringent penal provisions in the capitalist west was unable to contain the malaise of fraud. Post liberalization of the economy, the occurrence of corporate fraud has increased manifold in India. The regulations introduced often lagged behind the pace of corporate development. In fact, the system of regulating financial institutions in India was always highly fragmented, outdated and ineffective. It managed regulations with the help of multitude of agencies, self-regulatory organizations and state authorities who share oversight of the financial system under a sort of adhocism, often symptomatic of a framework uncomfortably saddled with gaps in regulatory silos, legal complexities and institutional inefficiencies.
欺诈性公司交易:重新制定监管竖井
近年来,各种形式和规模的企业欺诈屡见不实。它们影响到各种规模、行业和地区的公司和金融实体,并使非常先进和发达经济体的执法机构以及发展中国家或发达国家的执法机构感到惊讶,其增长率很高。在资本主义的西方,严厉的刑罚规定无法遏制欺诈的弊病。经济自由化后,企业欺诈的发生在印度增加了很多。出台的法规往往落后于企业发展的步伐。事实上,印度监管金融机构的体系一直高度分散、过时且效率低下。它在众多机构、自我监管组织和国家当局的帮助下管理监管,这些机构在一种依附主义下共同监管金融体系,这往往是一个框架的症状,令人不安地背负着监管孤岛、法律复杂性和机构效率低下的漏洞。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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