Search results
1 – 2 of 2Matthew Rossi, Greg Deis, Jerome Roche and Kathleen Przywara
– To alert high frequency trading firms to the increased regulation and prosecution of manipulative trading practices during 2014 and early 2015.
Abstract
Purpose
To alert high frequency trading firms to the increased regulation and prosecution of manipulative trading practices during 2014 and early 2015.
Design/methodology/approach
Reviews four significant proceedings against high frequency trading firms (and/or individuals employed by such firms) and other developments from the relevant government agencies as a possible preview of the enforcement and prosecution of high frequency trading practices in 2015. Provides advice to high frequency trading firms on how to decrease the risk of regulatory or criminal actions against them in this changing environment.
Findings
Although the focus on high frequency trading has only recently begun to intensify, firms should be aware of the increased enforcement activity of the past year. These actions, both regulatory and criminal, have already resulted in large penalties and have helped initiate a strengthening of rules and regulations regarding manipulative trading practices, of which firms need to be aware and stay current.
Practical implications
High frequency trading firms should be aware of the recent regulatory and criminal actions in order to better evaluate their own practices and controls, to ensure that their trading patterns do not resemble manipulative practices, and to avoid similar actions.
Originality/value
Practical guidance from experienced litigators and securities regulatory lawyers, including a former SEC Assistant Chief Litigation Counsel and a former federal prosecutor, that consolidates and describes several recent actions and developments in one piece.
Details
Keywords
Michael Kleinaltenkamp, Daniela Corsaro and Roberta Sebastiani
The purpose of this paper is to examine the role of proto-institutions that are new institutional subsystems that subsequently affect the current institutional arrangements in the…
Abstract
Purpose
The purpose of this paper is to examine the role of proto-institutions that are new institutional subsystems that subsequently affect the current institutional arrangements in the evolution of service ecosystems.
Design/methodology/approach
To shed light on the mode of action of proto-institutions, the authors investigate the changes of three service ecosystems in Italy: the health care ecosystem, the food-supply ecosystem and the urban mobility ecosystem.
Findings
First, the paper elucidates how changes of service ecosystems are triggered by megatrends that are external to specific service ecosystems. Second, the study empirically shows how service ecosystems and their institutional settings change through the establishment of proto-institutions.
Originality/value
Responding to recent calls to investigate in more detail how actors challenge dominant social patterns and to conduct research to better understand how changes at the level of individual actors may lead to shifts within overall service ecosystems, this paper is one of the first to empirically study the relationships between phenomena that are external to service ecosystems, the emergence of proto-institutions and the resulting changes of institutional arrangements.
Details