Intelligence Design: An Analysis of the SEC's New Office of Market Intelligence and its Goal of Using Big Data to Improve Securities Enforcement

26 Pages Posted: 30 Jul 2014

Date Written: July 29, 2014

Abstract

This contribution to the University of Cincinnati's spring 2013 symposium on “Addressing the Challenges of Protecting the Public: Enforcement Practices and Policies in the Post-Financial Crisis Era,” discusses the SEC's creation of a new Office of Market Intelligence in January, 2010. OMI was created in the aftermath of the Madoff scandal and charged with using advanced techniques to detect securities fraud and to process tips and complaints, including those arising from the Dodd-Frank whistleblower bounty reward program. While it may be too soon to judge the success of the new Office, useful comparisons to other federal intelligence activities (such as in the national security context) and to the business tool of "Market Intelligence" can be drawn.

Keywords: big data, intelligence, market intelligence, SEC, securities enforcement, fraud, Madoff, whistleblowers, bounties, Dodd-Frank

Suggested Citation

Rapp, Geoffrey Christopher, Intelligence Design: An Analysis of the SEC's New Office of Market Intelligence and its Goal of Using Big Data to Improve Securities Enforcement (July 29, 2014). University of Cincinnati Law Review, Vol. 82, p. 415, 2013, University of Toledo Legal Studies Research Paper No. 2014-14, Available at SSRN: https://ssrn.com/abstract=2473576

Geoffrey Christopher Rapp (Contact Author)

University of Toledo College of Law ( email )

2801 W. Bancroft Street
Toledo, OH 43606
United States

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