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Legal accountability in financial markets: Advancing SDG 16 through strong institutions and the rule of law
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Salahaldin Abdulkader Jebarah 
, Mammed Hassan Jammaa , Mohammed Al Makhmari , Mounir Snoussi , Said Ali Al Mamari , Abu Zafar Md Rashed Osman , Maisoon Abdul Wahab Al-Masri , Yasein Hassan Mohammad Osman , Omar Mohammed Khamis Al Mazroui
This work is licensed under a Creative Commons Attribution 4.0 International License.
Abstract
Lawfulness is one of the fundamentals in facilitating transparency, trustworthiness, and stability of financial markets. The latest research conducted emphasizes the overlapping connection between market integrity, sustainability, and governance (Radzi et al., 2025; Johannsdottir et al., 2025). This paper investigates the essence of law systems and institutional strength in the establishment of corporate accountability across the global financial systems, also addressing Sustainable Development Goal 16 (SDG) and the associated objectives. Based on the case studies in the developed and emerging economies, the researchers will discuss the role of regulatory enforcement, corporate governance standards, and the anti-corruption systems in developing market integrity and ensuring the sustainable development of the economy. The paper presents that strong legal infrastructures not only discourage misconduct and systemic risk but also lead to increased investor confidence and inclusive improvement. In light of recent reforms and enduring challenges, this study suggests policy recommendations that can help reinforce legal accountability frameworks in a bid to facilitate the achievement of SDG 16 and resilient, just, and accountable financial systems around the globe.
Keywords: Financial Markets, Rule of Law, Accountability, SDG 16, Good Institutions, Financial Regulation
Authors’ individual contribution: Conceptualization — S.A.J.; Methodology — S.A.J.; Data Curation — S.A.J.; Writing — Original Draft — S.A.J.; Writing — Review & Editing — M.H.J., A.Z.M.R.O., M.S., Y.H.M.O., M.A.M., M.A.W.A.-M., and S.A.A.M.; Supervision — O.M.K.A.M.
Declaration of conflicting interests: The Authors declare that there is no conflict of interest.
JEL Classification: G28, K22, K42, O16
Received: 17.07.2025
Revised: 20.11.2025; 10.12.2025
Accepted: 15.12.2025
Published online: 17.12.2025
How to cite this paper: Abdulkader Jebarah, S., Hassan Jammaa, M., Al Makhmari, M., Snoussi, M., Al Mamari, S. A., Osman, A.Z.M.R., Al-Masri, M. A. W., Osman, Y. H. M., & Al Mazroui, O. M. K. (2025). Legal accountability in financial markets: Advancing SDG 16 through strong institutions and the rule of law. Corporate Law & Governance Review, 7(4), 67–77. https://doi.org/10.22495/clgrv7i4p7
