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Regulatory Disclosure of Offending Companies in the Dutch Financial Market: Consumer Protection or Enforcement Publicity?

2010; Wiley; Volume: 32; Issue: 4 Linguagem: Inglês

10.1111/j.1467-9930.2010.00326.x

1467-9930

Judith van Erp,

Criminal Law and Evidence

Law & PolicyVolume 32, Issue 4 p. 407-433 Regulatory Disclosure of Offending Companies in the Dutch Financial Market: Consumer Protection or Enforcement Publicity? JUDITH VAN ERP, Corresponding Author JUDITH VAN ERP Erasmus University Rotterdam, the NetherlandsJudith van Erp, Sectie Criminologie, Faculteit Rechtsgeleerdheid, Erasmus Universiteit Rotterdam, Department of Criminology, Erasmus School of Law, Kamer L7-17, Postbus 1738, 3000 DR Rotterdam, the Netherlands, 010 4081755. Telephone: 31 10 4081755; E-mail: [email protected].Search for more papers by this author JUDITH VAN ERP, Corresponding Author JUDITH VAN ERP Erasmus University Rotterdam, the NetherlandsJudith van Erp, Sectie Criminologie, Faculteit Rechtsgeleerdheid, Erasmus Universiteit Rotterdam, Department of Criminology, Erasmus School of Law, Kamer L7-17, Postbus 1738, 3000 DR Rotterdam, the Netherlands, 010 4081755. Telephone: 31 10 4081755; E-mail: [email protected].Search for more papers by this author First published: 31 August 2010 https://doi.org/10.1111/j.1467-9930.2010.00326.xCitations: 16 This article is based on a research project that was funded by the Netherlands Organization of Scientific Research (NWO). It was written during a visiting scholarship at the Center for the Study of Law and Society, University of California, Berkeley. The author wishes to thank members of the department of criminology of the Erasmus School of Law; Ashley Rubin at CSLS; the editor and anonymous reviewers of this article for valuable contributions to earlier versions; and her colleagues Henk van de Bunt and Karin van Wingerde for comments on an earlier version. Marinke te Pest provided excellent research assistance. Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat Abstract Regulatory disclosure of names of offending companies is increasingly popular as an alternative to traditional command and control regulation. The goals and intended effects of disclosure are not always clear, however. Do regulators wish to increase their transparency, or do they intend to name and shame? This article aims to contribute to a better understanding of the underlying working mechanism of regulatory disclosure of offenders' names through a case study of the Dutch Authority for Financial Markets' disclosure policy. It distinguishes two types of disclosure strategies: consumer oriented and firm oriented. The case study shows that although informing consumers was the primary purpose of disclosure as intended by the Dutch legislature, the purpose in practice has shifted to informing companies about the regulators' enforcement policy. The nature of the disclosed information makes it unlikely that disclosure adequately prevents financial risk taking by consumers. Instead of empowering consumers, disclosure has been incorporated in a traditional deterrence logic, turning out not to be an example of new governance but instead a modern version of command and control enforcement publicity. REFERENCES Atkinson, Adele, Stephen McKay, Elaine Kempson, and Sharon Collard. 2006. 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