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The role of Investment Management Systems in regulatory compliance: a Post-Financial Crisis study of displacement mechanisms

Author

Listed:
  • Daniel Gozman

    (LSE - London School of Economics and Political Science)

  • Wendy Currie

    (Audencia Recherche - Audencia Business School)

Abstract

The financial crisis of 2007-2009 and the resultant pressures exerted on policymakers to prevent future crises have precipitated coordinated regulatory responses globally. A key focus of the new wave of regulation is to ensure the removal of practices now deemed problematic with new controls for conducting transactions and maintaining holdings. There is increasing pressure on organizations to retire manual processes and adopt core systems, such as Investment Management Systems (IMS). These systems facilitate trading and ensure transactions are compliant by transcribing regulatory requirements into automated rules and applying them to trades. The motivation of this study is to explore the extent to which such systems may enable the alteration of previously embedded practices. We researched implementations of an IMS at eight global financial organizations and found that overall the IMS encourages responsible trading through surveillance, monitoring and the automation of regulatory rules and that such systems are likely to become further embedded within financial organizations. We found evidence that some older practices persisted. Our study suggests that the institutionalization of technology-induced compliant behaviour is still uncertain.

Suggested Citation

  • Daniel Gozman & Wendy Currie, 2014. "The role of Investment Management Systems in regulatory compliance: a Post-Financial Crisis study of displacement mechanisms," Post-Print hal-00962188, HAL.
    • Handle: RePEc:hal:journl:hal-00962188
    DOI: 10.1057/jit.2013.16
    as

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    Cited by:

    1. Khalid Alzadjali & Amany Elbanna, 0. "Smart Institutional Intervention in the Adoption of Digital Infrastructure: The Case of Government Cloud Computing in Oman," Information Systems Frontiers, Springer, vol. 0, pages 1-16.
    2. Gozman, Daniel & Willcocks, Leslie, 2019. "The emerging Cloud Dilemma: Balancing innovation with cross-border privacy and outsourcing regulations," Journal of Business Research, Elsevier, vol. 97(C), pages 235-256.
    3. Gozman, Daniel & Liebenau, Jonathan & Mangan, Jonathan, 2018. "Innovation mechanisms of fintech start-ups: insights from SWIFT Innotribe competition," LSE Research Online Documents on Economics 86495, London School of Economics and Political Science, LSE Library.
    4. Khalid Alzadjali & Amany Elbanna, 2020. "Smart Institutional Intervention in the Adoption of Digital Infrastructure: The Case of Government Cloud Computing in Oman," Information Systems Frontiers, Springer, vol. 22(2), pages 365-380, April.
    5. Luo, Sumei & Sun, Yongkun & Yang, Fan & Zhou, Guangyou, 2022. "Does fintech innovation promote enterprise transformation? Evidence from China," Technology in Society, Elsevier, vol. 68(C).

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