This paper puts into perspective enforcement as conducted by the French Financial Market Authority since its creation … markets also contribute to challenge enforcement. The ultimate goal of this survey is to fuel regulatory debates on how to …

We develop a model in which two countries choose their enforcement levels non-cooperatively, in order to deter native … back. We show that, when extradition is not too costly, countries overinvest in enforcement compared to the cooperative … sufficiently costly, a large enforcement may induce criminals to flee the country in which they have perpetrated a crime …