![Rustam Mirrakhimov](https://profiles-cardiff.imgix.net/attachments/8664?w=200&h=200&auto=format&crop=faces&fit=crop&q=90")
Dr Rustam Mirrakhimov
- Available for postgraduate supervision
Teams and roles for Rustam Mirrakhimov
Lecturer
Overview
I am a legal scholar whose research straddles law and economics, with a focus on financial crime and market regulation. I examine how enforcement systems respond to uncertainty, delay, and mismeasurement factors that often make effective deterrence impossible. Using innovative non-linear methods, I analyse how penalties are designed, applied, and recalibrated in insider dealing and related offences.
My goal is to rethink how sanctions can be made fairer, more effective, and more resilient in financial markets. My work ranges from empirical studies of UK enforcement cases to theoretical models of sanction design, combining doctrinal analysis with interdisciplinary tools drawn from economics and mathematics.
Publication
2024
- Mirrakhimov, R. 2024. On the effectiveness of the civil regime's penalty-setting framework against insider dealing in the UK. Journal of Economic Criminology 6, article number: 100095. (10.1016/j.jeconc.2024.100095)
Articles
- Mirrakhimov, R. 2024. On the effectiveness of the civil regime's penalty-setting framework against insider dealing in the UK. Journal of Economic Criminology 6, article number: 100095. (10.1016/j.jeconc.2024.100095)
Research
Current Research Projects
Enforcement Duration and Severity: Exploring the temporal dimension of insider dealing enforcement, examining whether the passage of time dilutes or reshapes the relationship between offence and sanction.
Decomposition of Sanctions: Unpicking the architecture of financial penalties to trace how illicit gains, transactional dynamics, and negotiated reductions converge into a final figure.
Discounts and Uncertainty: Constructing a non-linear framework to capture how regulatory concessions and indeterminacy interact, not as simple sums but as forces that bend the trajectory of sanctions.
Enforcement Impossibility: Advancing a theory that deterrence falters not through failure of will, but because systemic blind spots and evidentiary opacity render perfect enforcement an unreachable horizon.
Teaching
Biography
I am Lecturer in Law at Cardiff University, where I teach across financial crime and EU law. My research focuses on financial crime and market regulation, with particular emphasis on the limits of deterrence, the role of uncertainty in enforcement, and the recalibration of financial sanctions.
Alongside my academic work, I have professional experience as a corporate legal adviser, giving me practical insight that continues to inform both my teaching and research.
Supervisions
Areas of supervision
- Financial crime and market abuse (including insider dealing and market manipulation)
-
Law and economics approaches to regulation
-
Enforcement, sanctions, and deterrence theory