Financial Market Surveillance Decision Support: An Explanatory Design Theory

In this paper, an explanatory design theory for Financial Market Surveillance Systems is presented, which addresses both user requirements and regulatory demands. The identified general requirements and generated general components of the proposed design theory provides a theoretical foundation for design of implementation of highly flexible and real-time surveillance systems for capital markets

Dialectic tensions in the financial markets: a longitudinal study of pre- and post-crisis regulatory technology

This article presents the findings from a longitudinal research study on regulatory technology in the UK financial services industry. The financial crisis with serious corporate and mutual fund scandals raised the profile of compliance as governmental bodies, institutional and private investors introduced a ‘tsunami’ of financial regulations. Adopting a multi-level analysis, this study examines how regulatory technology was used by financial firms to meet their compliance obligations, pre- and post-crisis. Empirical data collected over 12 years examine the deployment of an investment management system in eight financial firms. Interviews with public regulatory bodies, financial institutions and technology providers reveal a culture of compliance with increased transparency, surveillance and accountability. Findings show that dialectic tensions arise as the pursuit of transparency, surveillance and accountability in compliance mandates is simultaneously rationalized, facilitated and obscured by regulatory technology. Responding to these challenges, regulatory bodies continue to impose revised compliance mandates on financial firms to force them to adapt their financial technologies in an ever-changing multi-jurisdictional regulatory landscape

Pervasively Distributed Copyright Enforcement

In an effort to control flows of unauthorized information, the major copyright industries are pursuing a range of strategies designed to distribute copyright enforcement functions across a wide range of actors and to embed these functions within communications networks, protocols, and devices. Some of these strategies have received considerable academic and public scrutiny, but much less attention has been paid to the ways in which all of them overlap and intersect with one another. This article offers a framework for theorizing this process. The distributed extension of intellectual property enforcement into private spaces and throughout communications networks can be understood as a new, hybrid species of disciplinary regime that locates the justification for its pervasive reach in a permanent state of crisis. This hybrid regime derives its force neither primarily from centralized authority nor primarily from decentralized, internalized norms, but instead from a set of coordinated processes for authorizing flows of information. Although the success of this project is not yet assured, its odds of success are by no means remote as skeptics have suggested. Power to implement crisis management in the decentralized marketplace for digital content arises from a confluence of private and public interests and is amplified by the dynamics of technical standards processes. The emergent regime of pervasively distributed copyright enforcement has profound implications for the production of the networked information society

A qualitative study of stakeholders' perspectives on the social network service environment

Over two billion people are using the Internet at present, assisted by the mediating activities of software agents which deal with the diversity and complexity of information. There are, however, ethical issues due to the monitoring-and-surveillance, data mining and autonomous nature of software agents. Considering the context, this study aims to comprehend stakeholders' perspectives on the social network service environment in order to identify the main considerations for the design of software agents in social network services in the near future. Twenty-one stakeholders, belonging to three key stakeholder groups, were recruited using a purposive sampling strategy for unstandardised semi-structured e-mail interviews. The interview data were analysed using a qualitative content analysis method. It was possible to identify three main considerations for the design of software agents in social network services, which were classified into the following categories: comprehensive understanding of users' perception of privacy, user type recognition algorithms for software agent development and existing software agents enhancement

I'm sorry to say, but your understanding of image processing fundamentals is absolutely wrong

The ongoing discussion whether modern vision systems have to be viewed as visually-enabled cognitive systems or cognitively-enabled vision systems is groundless, because perceptual and cognitive faculties of vision are separate components of human (and consequently, artificial) information processing system modeling.Comment: To be published as chapter 5 in "Frontiers in Brain, Vision and AI", I-TECH Publisher, Viena, 200

Internal Controls After Sarbanes-Oxley: Revisiting Corporate Law\u27s Duty of Care as Responsibility for Systems

Revisiting section 3.4.2 of Clark\u27s Corporate Law (\u27Duty of Care as Responsibility for Systems ) reminds us, however, that the internal controls story actually goes back many decades, and that many of the strategic issues that are at the heart of section 404 have long been contentious. My Article will briefly update Clark\u27s account through the late 1980s and 1990s before returning to Sarbanes-Oxley and rulemaking thereunder by the SEC and the newly created Public Company Accounting Oversight Board ( PCAOB ). My main point builds on one of Clark\u27s but digs deeper. Internal controls requirements, whether federal or state, are incoherent unless and until one articulates clearly for whose benefit they exist, and to what end. There are, in fact, a number of competing articulations. The failure to identify a single and coherent rationale creates significant uncertainty, which has been exploited by players in the legal, accounting, consulting, and information technology fields. Companies are probably spending more time and resources on 404 compliance than a reasonable reading of the legislation and the rules necessarily requires, heavily influenced by those who gain from issuer over-compliance. This rent-seeking compromises the political viability and substantive quality of what is at the heart a beneficial statutory reform

Digital Architecture as Crime Control

This paper explains how theories of realspace architecture inform the prevention of computer crime. Despite the prevalence of the metaphor, architects in realspace and cyberspace have not talked to one another. There is a dearth of literature about digital architecture and crime altogether, and the realspace architectural literature on crime prevention is often far too soft for many software engineers. This paper will suggest the broad brushstrokes of potential design solutions to cybercrime, and in the course of so doing, will pose severe criticisms of the White House\u27s recent proposals on cybersecurity. The paper begins by introducing four concepts of realspace crime prevention through architecture. Design should: (1) create opportunities for natural surveillance, meaning its visibility and susceptibility to monitoring by residents, neighbors, and bystanders; (2) instill a sense of territoriality so that residents develop proprietary attitudes and outsiders feel deterred from entering a private space; (3) build communities and avoid social isolation; and (4) protect targets of crime. There are digital analogues to each goal. Natural-surveillance principles suggest new virtues of open-source platforms, such as Linux, and territoriality outlines a strong case for moving away from digital anonymity towards psuedonymity. The goal of building communities will similarly expose some new advantages for the original, and now eroding, end-to-end design of the Internet. An understanding of architecture and target prevention will illuminate why firewalls at end points will more effectively guarantee security than will attempts to bundle security into the architecture of the Net. And, in total, these architectural lessons will help us chart an alternative course to the federal government\u27s tepid approach to computer crime. By leaving the bulk of crime prevention to market forces, the government will encourage private barricades to develop - the equivalent of digital gated communities - with terrible consequences for the Net in general and interconnectivity in particular

Self-tracking modes: reflexive self-monitoring and data practices

The concept of ‘self-tracking’ (also referred to as life-logging, the quantified self, personal analytics and personal informatics) has recently begun to emerge in discussions of ways in which people can voluntarily monitor and record specific features of their lives, often using digital technologies. There is evidence that the personal data that are derived from individuals engaging in such reflexive self-monitoring are now beginning to be used by actors, agencies and organisations beyond the personal and privatised realm. Self-tracking rationales and sites are proliferating as part of a ‘function creep’ of the technology and ethos of self-tracking. The detail offered by these data on individuals and the growing commodification and commercial value of digital data have led government, managerial and commercial enterprises to explore ways of appropriating self-tracking for their own purposes. In some contexts people are encouraged, ‘nudged’, obliged or coerced into using digital devices to produce personal data which are then used by others. This paper examines these issues, outlining five modes of self-tracking that have emerged: private, communal, pushed, imposed and exploited. The analysis draws upon theoretical perspectives on concepts of selfhood, citizenship, biopolitics and data practices and assemblages in discussing the wider sociocultural implications of the emergence and development of these modes of self-tracking

Foucault in Cyberspace: Surveillance, Sovereignty, and Hardwired Censors

This is an essay about law in cyberspace. I focus on three interdependent phenomena: a set of political and legal assumptions that I call the jurisprudence of digital libertarianism, a separate but related set of beliefs about the state\u27s supposed inability to regulate the Internet, and a preference for technological solutions to hard legal issues on-line. I make the familiar criticism that digital libertarianism is inadequate because of its blindness towards the effects of private power, and the less familiar claim that digital libertarianism is also surprisingly blind to the state\u27s own power in cyberspace. In fact, I argue that the conceptual structure and jurisprudential assumptions of digital libertarianism lead its practitioners to ignore the ways in which the state can often use privatized enforcement and state-backed technologies to evade some of the supposed practical (and constitutional) restraints on the exercise of legal power over the Net. Finally, I argue that technological solutions which provide the keys to the first two phenomena are neither as neutral nor as benign as they are currently perceived to be. Some of my illustrations will come from the current Administration proposals for Internet copyright regulation, others from the Communications Decency Act and the cryptography debate. In the process, I make opportunistic and unsystematic use of the late Michel Foucault\u27s work to criticise some the jurisprudential orthodoxy of the Net