The Dark Side of Finance: Policing Corruption through Regulatory Means

This chapter addresses the important but understudied topic of the policing of bribery and corruption through the supervisory and enforcement techniques of financial regulators. The specific focus is on the UK financial markets and the regulatory regime of the conduct of business financial regulator, the Financial Conduct Authority (FCA). The chapter is an initial attempt to use theoretical and analytical tools from regulation theory scholarship to make sense of how public agencies carve out their supervisory remit with respect to the oversight of bribery and corruption in industries; what are the role and resources employed by the regulatees in this process, as well as to chart developing trends and new modes of governance within the regulatory state in general.