TY - JOUR
T1 - Curbing Consumer Financial Losses: The Economics of Regulatory Enforcement
AU - Faure, M.G.
AU - Ogus, A.I.
AU - Philipsen, N.J.
PY - 2009/1/1
Y1 - 2009/1/1
N2 - This article deals with the question of how a high level of compliance with consumer protection legislation designed to prevent financial losses can be secured. We use a theoretical framework based on economic analysis of law to address some of the key policy options, such as proactive and reactive monitoring, providing officials with postdetection enforcement discretion, administrative, civil, and criminal sanctions, and facilitating actions by victims and third parties. On the basis of our theoretical framework and a classiffication of jurisdictions into different groups (models of enforcement policy), we identify some key elements of an enforcement regime and indicate in what circumstances a particular solution can be expected to be more or less cost effective.
AB - This article deals with the question of how a high level of compliance with consumer protection legislation designed to prevent financial losses can be secured. We use a theoretical framework based on economic analysis of law to address some of the key policy options, such as proactive and reactive monitoring, providing officials with postdetection enforcement discretion, administrative, civil, and criminal sanctions, and facilitating actions by victims and third parties. On the basis of our theoretical framework and a classiffication of jurisdictions into different groups (models of enforcement policy), we identify some key elements of an enforcement regime and indicate in what circumstances a particular solution can be expected to be more or less cost effective.
U2 - 10.1111/j.1467-9930.2009.00299.x
DO - 10.1111/j.1467-9930.2009.00299.x
M3 - Article
SN - 0205-8240
VL - 31
SP - 161
EP - 191
JO - Law and Policy
JF - Law and Policy
IS - 2
ER -