Samantha Hatt and Richard Burger
The purpose of this paper is to consider the outcome of the Financial Services Authority (FSA)'s first ever contested criminal prosecution of company directors accused of making…
Abstract
Purpose
The purpose of this paper is to consider the outcome of the Financial Services Authority (FSA)'s first ever contested criminal prosecution of company directors accused of making misleading statements to the market.
Design/methodology/approach
The paper reviews the trial and the comments of the trial judge and court of appeal on sentence and confiscation.
Findings
This case shows the FSA's willingness to prosecute significant cases of market misconduct and how seriously the courts consider such behaviour.
Originality/value
This paper will be of interest to the directors and officers of listed companies, their professional advisers and regulatory lawyers.
Details
Keywords
Richard Burger and Samantha Hatt
The FSA Financial Crime Sector Leader, Philip Robinson, outlined the FSA's new policy on fraud within the regulated sector in his October 2004 speech. The FSA subsequently…
Abstract
Purpose
The FSA Financial Crime Sector Leader, Philip Robinson, outlined the FSA's new policy on fraud within the regulated sector in his October 2004 speech. The FSA subsequently undertook a review of 16 regulated firms and how to prevent and detect fraud. This paper considers the findings of the FSA's Firm's High‐Level Management of Fraud Risk Report and the reference to financial crime in the FSA's recent Financial Risk Outlook 2006 and Business Plan 2005/2006.
Design/methodology/approach
The topic has been approached to consider the development of the FSA's policy on fraud with reference to speeches and policy documents.
Findings
That financial crime is a significant threat to the financial services sector. Firms have taken proactive steps to tackie fraud, but more can be done. The 2006 may see greater focus by the FSA on firms' anti‐fraud measures.
Originality/value
In examining the FSA's policy on anti‐fraud management this papers seek identify what the FSA requires from firms in terms of anti‐fraud measures. This paper should be of interest to compliance officers, MLRO Officers, fraud investigators and regulatory lawyers.
Details
Keywords
Robert Gandy, Peter Wolstencroft, Katherine Geer and Leanne de Main
The recruitment of undergraduate students within English universities is of vital importance to both the academic success and the financial stability of the organisation. Despite…
Abstract
Purpose
The recruitment of undergraduate students within English universities is of vital importance to both the academic success and the financial stability of the organisation. Despite the primacy of the task, there has been a dearth of research looking at related performance and how to ensure that the process is optimised. The purpose of this study was to investigate the degree of variation both within a university and between different universities. The reliance that individual programmes and/or universities place on the Clearing process is key; given its uncertainty, resource demands and timing shortly before students take up their places.
Design/methodology/approach
The Nomogramma di Gandy diagrammatical approach utilises readily available data to analyse universities’ performance in recruiting students to different programmes, and the degree to which they each rely of the Clearing process. Inter-university performance was investigated on a whole-student intake basis for a sample of English universities, representative of type and region.
Findings
The study found that there were disparate patterns for the many programmes within the pilot university and also disparate patterns between different types of universities across England. Accordingly, universities should internally benchmark their programmes to inform both strategic and tactical decision-making. Similarly, Universities and Colleges Admissions Service benchmarking inter-university patterns could inform the overall sector.
Originality/value
The approach and findings provide lessons for analysing student recruitment which could be critical to universities’ academic and financial health, in an increasingly competitive environment.