White Collar Crime's Gray Area: The Anomaly of Criminalizing Conduct Not Civilly Actionable

Abstract:     
This article demonstrates that criminal liability is more expansive than civil liability in the context of securities fraud, analyzes the impact of this anomaly on the current scheme of securities regulation, analyzes whether the rationales underlying the leading theories of the civil-criminal divide explain this liability configuration, and concludes that Congress should consider closing the gap between criminal and civil liability in this unique context.

Number of Pages in PDF File: 55

Keywords: white collar crime, civil-criminal divide, securities regulation

Accepted Paper Series