The Securities And Exchange Commission

The Securities and Exchange Commission
Morgan Bennett Mr. Harris History Honors– Per 5 April 2001 The Securities and Exchange
Commission In 1934 the Securities Exchange Act created the SEC (Securities and Exchange
Commission) in response to the stock market crash of 1929 and the Great Depression of the 1930s.
It was created to protect U.S. investors against malpractice in securities and financial markets. The
purpose of the SEC was and still is to carry out the mandates of the Securities Act of 1933: To
protect investors and maintain the integrity of the securities market by amending the current laws,
creating new laws and seeing to it that those laws are enforced. During the 1920s, approximately 20
million Americans took advantage of post–war prosperity by purchasing ... Show more content on
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There are six main laws that govern the Securities Industry, but only four that are relevant to the
majority of people. The first law is the Securities Act of 1933, which is often referred to as the "truth
in securities". The Security Act of 1933 has two basic objectives: to require investors to receive
significant information concerning securities being offered for public sale; and to prohibit deceit,
misrepresentation, and other fraud in the sale of securities. These two objectives are accomplished
primarily by registration which discloses important financial information. While the SEC requires
this information to be accurate, there is no guarantee that it will be. However, if investors purchase
securities and suffer losses due to the fact that the information given was incomplete or inaccurate
they have recovery rights. The registration process requires corporations to supply the essential facts
while minimizing the burden and expense of complying with the law. These requirements include a
description of the company's properties and the security to be offered for sale, information about the
management of the company and financial statements certified by independent accountants. If U.S.
domestic companies file this information, the statements are available on
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Securities Exchange Commission Corey Turner Summary
Corey Turner's article describes how a fairly new Securities and Exchange Commission rule puts
minority business owners at a disadvantage. The rule, which makes paying for finder's services
against the law, puts minority and small business owners at a disadvantage by preventing the use of
finders to connect to investors, partners, and new customer groups. Finders are middle men in
business transactions that help to facilitate and connect businesses and their operations. Finders are
known to be an important impetus for businesses, especially small businesses and start–ups, who
lack the resources and connections to find investors and assets for the business. However, finders do
not work for free. Many of which are businessmen and businesswomen themselves, finders get
compensated for their help by collecting fees, what we all know as finder's fees. Thus, the SEC
making finder's fees ... Show more content on Helpwriting.net ...
Since its enabling act, the Securities Exchange Act of 1934, the SEC has passed numerous rules and
regulations that impact business. Many of these have been very beneficial in protecting consumers,
business owners, and organizations. The SEC's stance may seem to be counterproductive to helping
businesses, but they are doing so to keep them protected. The SEC takes issue with finders and
finders fees because some finders may charge extremely high fees and also use their connections to
leverage the businesses that are in need of help. The SEC does allow some finder services to be
provided, but only by licensed broker–dealers. Broker–dealers however must go through a lengthy
licensing process in addition to paying yearly brokerage fees. The SEC has to walk this fine–line
between hindering finders with too much red–tape or loosening their stance and exposing business
owner's to corrupt practices that can easily be adopted by

Essay on Ethics and Compliance
Ethics and Compliance – Hewlett Packard Introduction How a company conducts business is
important. The U.S. Security and Exchange commission has established guidelines for publicly
traded companies so investors and creditors have easy access to the information they need to
evaluate the risk to invest or extend credit to a company (Kimmel, Weygandt, & Kieso, 2007). In
this paper Hewlett Packard's ethics policy, U.S. Security and Exchange compliance, financial ratios
reported in their 2006 and 2007 annual reports, and filing with the U.S. Security and Exchange
Commission are examined. HO Ethical Behavior According to Mark Hurd, Chairman and CEO of
Hewlett–Packard the company wants to be known for ethical leadership ... Show more content on
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Section II offers information about market for registrant's common equity and related stockholders
matters, financial data, management analysis of financial condition and results of operations,
quantity and quality disclosures regarding market risk, financial statements, and outcome of changes
due to disagreements with accountants regarding accounting and financial disclosures and Hewlett–
Packard's control and procedures (Hewlett, 2007). Section III discloses a list of Hewlett Packard's
directors, executive officers and corporate governance of the registrant, company's executive
compensation, stockholders matters and security ownership of beneficial owners and management,
relationship and related transactions, director independence, and principal accountant fees and
services (Hewlett, 2007). Section IV Exhibits a list of all the attachments included in the report and
the financial statement schedules. The report is certified to be true and accurate by the Hewlett
Packard's chief executive officer and chief financial officer (Hewlett, 2007). Financial Ratios In
order to evaluate and analyze the financial performance of a company, the first thing to be done is to
obtain a copy of the company's annual report and Security and Exchange Commission filings. With
these reports in hand and a fair understanding of their function, the evaluation Hewlett Packard's
financial performance for 2006 and 2007 fiscal

Essay on Examining a Business Failure
Examining a Business Failure: Tyco International Ltd. ®
LDR 531
August 23, 2010
Examining a Business Failure: Tyco International Ltd. ® Many have heard the proverb, "A chain is
only as strong as its weakest link." This can be directly applied to business organizations through
analysis of the three strongest and/or weakest links: managers, leaders and the organizational
structure. These three areas provide the central core to any organization and are often linked to
dramatic failures and consequences when weaknesses arise. In this paper, the student will discuss
the 2002 failure of Tyco International Ltd. ® (Tyco) in which the Securities and Exchange
Commission (SEC) filed a lawsuit claiming fraud, reporting violations, ... Show more content on
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While this was only one of many claims held by the SEC, it shows the fraudulent nature of the
accusations. Additionally, the SEC pursued harsh consequences for the crimes as a means to offer
restitution to all investors damaged by the executive's actions (U.S. Securities and Exchange
Commission, 2010).
Managers and Leaders While it is difficult to offer a specific definition of a manager and leader, the
type of control used to manage/persuade employees can offer a clear distinction. A manager often
uses a bureaucratic, authoritative style, and a leader most often relies on charisma and influence to
achieve goals. Neither style is better than the other; however, one may achieve greater results
dependent upon the situation. According to Yuki, within the management atmosphere, many
"decision processes are disorderly and political" (2006, p. 26). In the case with Tyco, many actions
completed by the accounting department were highly political, being based upon information
directly from the CEO. During the legal investigation, the SEC found that no employees (with the
exception of those specifically named in the lawsuit) were found in violation of any law. The SEC
concluded that

The Securities And Exchange Commission 's Rationale For...
This paper will address the Securities and Exchange Commission's rationale for charging Cardillo
executives with the violations outlined in the case study and identify who was in violation or
compliance with the AICPA's Code of Professional Conduct and the reasons they were or were not
complying. This paper will also analyze the actions taken by Cardillo's outside auditors, evaluate the
level of efficiency of the audit risk management, determine whether or not the five components of
internal controls were being properly followed and argue for or against whether auditors have a
responsibility to assess the judgment of the decisions made by Cardillo's management. Cardillo
Travel Systems, Inc. was acquired in 1956 by Arnold Walter Rognlien who at the time was an
established auto parts salesman. The company quickly became the fourth largest company in the
travel agency industry and the first to be listed on a national stock exchange (Rittenberg, Johnstone,
Gramling & Knapp, 2012). In 1986, the company experienced financial hardship due to liquidation
problems and a civil lawsuit requiring them to pay $685,000. To make matters worse that same year
the company was at the center of a financial reporting scandal when the SEC investigated claims
that it received a payment from United Airlines for $203,000 and did not disclose the specifics of the
transaction to auditors, shareholders or the public. The SEC filed a complaint in 1987 with the Los
Angeles Federal Court citing

Case Analysis : Us Securities And Exchange Commissions
Chao–Wei Chang
Enterprise IT Integration
October 22, 2015
MACPA Case Analysis
Executive Summary The US Securities and Exchange Commissions required many large public
companies to submit financial reports in XBRL format, but organizations often concern about the
cost and time that associate to transform all their financial data to XBRL. The Maryland Association
of Certified Public Accountants, a privately held nonprofit company, recognized the value of XBRL
to reduce transactional costs and improve operational efficiency. They believed converting their
accounting data to XBRL format would deliver more benefits than the costs. With Altova MapForce
and FlowForce Server, MACPA was able to transform all data from different systems to XBRL and
automate data collection and extraction processes. Not only has the project driven operational
efficiencies and increase data accessibility, but also potentially enabled MACPA to submit
information to SEC in XBRL.
Main Analysis
Solution 1: Altova MapForace and FlowForce MACPA implemented Altova MapForce software to
transform their financial data from Microsoft Dynamics and AM.net to XBRL, and help them to
automate the process of generating XBRL instance file as request which significantly increase the
efficiency of collecting and compiling data. Using MapForce, business data is collected from
various sources to the target by simply connecting lines between data source, such as SQL server, to
the target. MACPA took advantage of MapForce

Koss Case
ISSN 1940–204X Koss Corporation Corporate Governance, Internal Controls, and Ethics: What
Went Wrong? Melanie O. Anderson Slippery Rock University INTRODUCTION THE
ACCOUNTING FUNCTION Koss Corporation is a Milwaukee company whose principal business
is the design, manufacture, and sale of stereo headphones and related accessories. Michael Koss is
the CEO; his father, John Koss, founded the company in 1958. The company has trademarks and
patents for its products to differentiate itself from the competition. Koss Corp. has a six–man Board
of Directors, including Michael and his father. John is 81 years old and serves as chairman of the
Board. Michael is 57 years old and serves as vice chairman, president, CEO, COO, and ... Show
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Sue served on several charity boards, organized lavish parties for their events that cost millions of
dollars, and purchased all items that did not sell at the charity auctions she organized.6 Sue also had
a reputation as a demanding boss: Her assistants were required to help her with the charity events,
and Sue took them out to lunch almost daily. Julie and Tracy also went to Sue's house to help her
unpack and store the many expensive items she purchased. Sue loved designer clothing, shoes, and
accessories and purchased over 20,000 items in a five–year period from 2004 to 2009. She
purchased so many items that they did not fit in her house. So, she rented a storage unit and a two–
office suite to store her unused purchases. In addition, Sue made some purchases that she never
picked up from the retailers.7 Table 1: Financial Data from 2008 and 2009 June 30, 2009 Net Sales
Net Income June 30, 2008 $ 38,184,150 $ 46,943,293 1,976,668 4,494,289 Basic Earnings per
Common Share: Basic: 0.54 1.22 Diluted: 0.54 1.22 $ 28,470,352 $ 29,977,077 Total Assets Cash
Dividends per Common Share $ 0.52 $ 1.52 IM A ED U C ATIO NA L C A S E JOURNAL 1 VOL.
6, N O. 1, ART. 3, MARCH 2013 PAYMENTS BY CHECK OR WIRE TRANSFER Sue could
not pay for all of these purchases with her $200,000 salary or her physician husband's $600,000
salary.8

Case Study Of The Securities And Exchange Commission
Case Study Examination and Ethical Questions The Securities and Exchange Commission (SEC)
imposes regulations on individuals and companies to ensure compliance with federal laws. Among
the laws imposed by the SEC is the Foreign Corrupt Practices Act (FCPA), which prohibits bribes to
foreign officials for the purpose of gaining or retaining business (SEC, 2016). While Con–Way, Inc.
did not directly violate this act, it failed to ensure its subsidiary complied. Furthermore, it failed to
implement internal controls over said subsidiary which prevented the detection of the FCPA
violations. Case Study: Con–Way Inc. Con–Way, Inc. is an international freight forwarding
organization incorporated in Delaware, and headquartered in San Mateo, California. Among its
subsidiaries from 1989 through 2004 were Menlo Forwarding and Emery Transnational. While
Menlo Forwarding was headquartered in Redwood City, California, Emery Transnational was a
Philippines based subsidiary (Mintz & Morris, 2014). The violations of the FCPA by Con–way, Inc.
occurred within Emery. Con–Way's failure to implement proper internal accounting controls resulted
in the violations going undiscovered until 2003 when steps were finally taken to improve internal
reporting requirements. As the FCPA distinguishes between facilitating payments and the more
serious issues such as bribery, any subsequent penalties for violating the act make perfect sense from
an ethics standpoint. Bribery in and of itself is an

Globalization And Convergence Of Us.gaap Ifrs Standard As...
There is a clear roadmap to social globalization and convergence of US.GAAP – IFRS Standard as
prescribed by the Security and Exchange Commission (SEC) for users that set up financial
statements in accordance with IFRS as issued by IASB. This followed would lead to a worldwide
adoption of IFRS over the next few years. In his work, Barry (2009, p.26–27) states, "The advantage
of a single set of financial reporting standards are manifest, particularly as internationalization of
business activities became the norm. In particular, having uniform, high quality standards has been
extolled as fostering international business relationships, with the goal being the facilitation of cross
border capital flows and lowering the cost of capital _ the expected results of the anticipated
reduction of perceived accounting risk". It has been argued that uniform financial reporting
standards will result in lowered cost of capital, where investors will be willing to accept lower
returns interest from their investment in corporate securities. This will be achieved when the
riskiness of their investment is reduced to the acceptable level. To improve an investors' confidence,
the SEC provides domestic registration of foreign entities and reconciliation to U.S. GAAP from
respective national GAAP. This means that IFRS has gained a much broader acceptance even in the
European Union especially when the EU imposed the IFRS–based reporting an all publicly held
EU–based companies (for consolidated

Bernard Madoff Fraud
Abstract
This report allows the facts to be known concerning the still mysterious case of Bernard L. Madoff
and his longtime investment securities activities, which eventually turned into an enormous fraud of
incomparable size. In this report, you will begin to understand how Bernard Madoff was able to
execute such an elaborate fraud. The illegal business behavior found in this case is too numerous to
count however, quite a few will be identified. In addition, the roles of the perpetrators, accomplices,
and their involvement in this scheme will be made known. This fraud had such an enormous impact
on the victims, we will examine several implementations that the private investors could have
implemented to protect themselves. An ... Show more content on Helpwriting.net ...
Clients were promised that Bernard Lawrence Madoff Investment Securities (BLMIS) would invest
their funds in a basket of approximately 35–50 common stocks within the Standard & Poor's
100 Index (the "S&P l00"), a collection of the 100 largest publicly traded companies in terms
of their market capitalization. MADOFF claimed that he would select a basket of stocks that would
closely mimic the price movements of the S&P 100. MADOFF further claimed that he would
opportunistically time those purchases, and would be "out of the market intermittently, investing
clients' funds in these periods in United States Government issued securities such as United States
Treasury bills. MADOFF also claimed that he would hedge the investments that he made in the
basket of common stocks by using investor funds to buy and sell option contracts related to those
stocks, thereby limiting potential losses caused by unpredictable changes in stock prices. ("United
states of," 2009)
Madoff's Illegal Business Behaviors Exposure Federal prosecutors filed a total of eleven charges
against Bernard Madoff. The first of those charges was for securities fraud. The crime of securities
fraud involves false claims of investment security holdings, and misinformation regarding stocks
and brokerage advice. Sensational insider information is also considered a component of this
criminal activity. Another major charge involved three counts of money

Theu.s Security And Exchange Commission
Ralph Lauren Corporation has been in operation for more than 47 years (Ralph Lauren, n.d.). The
company offers the general public variety of high–quality apparels, fashion accessories, eau de
toilettes and household products (Ralph Lauren, n.d.). In 1960, the company started creating their
brand by selling men's apparel but it was not until 1970 that the company started selling women's t–
shirts (Ralph Lauren, n.d.). During this time, the company was only marketing its products in the
United States. However, in 1981 the company expanded its door internationally in London (Ralph
Lauren, n.d.). Years later, Ralph Lauren Collections started marketing their brand by creating
designed t–shirts to support a cause such as cancer, men and women's sportswear, and even home
paint. "In 1997, Ralph Lauren became a publicly traded company (Ralph Lauren, n.d.)." The U.S
Security and Exchange Commission (SEC) requires publicly traded companies to disclose their
financial reports for external users to view. Disclosures are an important section of a company's
annual report. Every statement within the report is likely to have information that will help readers
understand the data. The 2015 annual report of Ralph Lauren Corporation contains various
disclosures that explain how the financial figures were determined. The disclosures help explain
what the company has done over the past year and what they plan to do in the future. Understanding
the disclosures related to cash, cash

The Competitive Forces Of Apple
Apple, Google, and Microsoft each develop, design, and market a variety of software, services, and
devices. In this technology market, these firms face aggressive competition in serving single
customers and various small, medium, large companies. Within this segment, the competitive forces
exert pressure, which influences strategy development and execution and a competitive advantage.
As such, the competitive forces are the power of suppliers, power of buyers, threats of substitutes,
threats of new entrants, and existing rivalries (Rothaermel, 2017). Concerning suppliers, Apple
single–sourced outsourcing to supply hardware, Google used third–party supply sourcing, and
Microsoft used a mixture of single–source and third–party (U.S. ... Show more content on
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A global technology firms, the CPM revealed 12 critical success factors (CSF) in exploring the
strengths and weaknesses of Apple, Google, and Microsoft. The CSFs are identified as financial
position, profit margin, market competitiveness, brand reputation, brand awareness, product
diversity, complementary products, research and development spending, innovative culture, service
quality, customer loyalty, and e–commerce. The subjective measure CPM analysis produced the
following average weighted scores: Apple 3.93, Google 3.91, and Microsoft 3.56. Extracted from
10k reports, Apple retained $20 billion in cash in 2016, whereas Google held $12.9 billion and
Microsoft $6.5 billion (U.S. Securities and Exchange Commission, 2017A; U.S. Securities and
Exchange Commission, 2017B; U.S. Securities and Exchange Commission, 2017C). In comparison,
Apple's large cash reserve suggested it had a more favorable financial position than Google and
Microsoft. However, analysis of gross profit margins suggested Apple earned 33 cents per dollar of
sales, while Google and Microsoft outperformed Apple, with each retaining 61 percent of sales.
Nevertheless, all three firms received high marks regarding market competitiveness and brand
awareness as each competitor is well funded, experienced, and established in technology markets.
The comparative analysis suggested Apple and Google had superior performance regarding brand
reputation; however,

The Case Of The Securities And Exchange Commission Essay
Senators Tammy Baldwin (D–WI) and Jeff Merkley (D–OR) introduced Bill S.2720 on March 17,
2016, which if enacted and implemented into law would be called the Brokaw Act. Currently, the
Securities and Exchange Commission (SEC) requires beneficial owners to file for ownership and
disclose their ownership interests if he/she owns more than 5% of a registered class of security
equity within 10 days. However, the Brokaw Act would reduce this disclosure period from 10 to 2
business days and require short interests disclosures pertaining to the security. Further, the Act
would amend the SEC's current definition of beneficial ownership from just ownership over
securities with voting rights to an individual who has monetary or indirect monetary interest in the
equity. The Act also broadens the definition of security ownership from an individual owner to
include individuals acting as managers of transactions of the security, who have influence over
management and who assist the individual 'beneficial owner'. Finally, the proposed act has received
strong opposition from Activist Investors while Issuers, Shareholders, Pro–Business Conservatives
and Corporate Board Members equally propose it.
PURPOSE
The Brokaw Act was named after a small town in Wisconsin that filed for bankruptcy when New
York based Fund Company closed a paper mill that was responsible for most of the town's job
market. The purpose of the Act was to force the Securities and Exchange Commission to amend
certain

The Security Exchange Commission Filed Charges Against...
Background The security exchange commission filed charges against Rite Aid's senior executives on
June 21, 2002. ("SEC Announces Fraud Charges Against Former Rite Aid Senior Management")
These charges were on the basis of accounting fraud and were filed against senior leadership ranging
from the former CEO to a former Vice Chairman, specifically Martin Grass the chief executive
officer, Frank Bergonzi the chief financial officer, and Franklin Brown a former vice chairman.
Security and exchange commission alleged that "Rite Aid overstated its income and every quarter
from May 1997 to May 1999." ("SEC Announces Fraud Charges Against Former Rite Aid Senior
Management") they also alleged that there were related party transactions that were never reported
as well as finance committee meetings had had the minutes fabricated by Grass. The Securities and
Exchange Commission is looking to have several punishments placed on the executives. "The
commission is seeking this disgorgement of annual bonuses and imposition of civil penalties against
Grass, Bergonzi, and Brown." ("SEC Announces Fraud Charges Against Former Rite Aid Senior
Management"). Disgorgement of annual bonuses as required by section 304 of Sarbanes–Oxley act
of 2002. This essentially requires that the executives forfeit any bonuses or income that they had
earned during the 12 month period following the start of the fraud. "Any bonuses or other incentives
or equity–based compensation that they received during the 12

Competitive Forces Analysis Of Amazon
Competitive Forces Analysis. Amazon, Google, and Apple each have competitive advantages in
various markets; however, one specific market proved difficult for Amazon to cultivate a
competitive advantage. Shaping competition, the five forces, known as threats of new entrants,
power of suppliers, power of buyers, threats of substitutes, and existing rivalry, determine industry
profitability and influence the ability to gain competitive advantage (Rothaermel, 2017). Notably,
failing to understand the forces can results in negative gains. Within the U.S. technology industry,
the smartphone market has strong competitive forces, yet profit potential. In particular, the
smartphone market has established firms, such as Google and Apple, each with large market shares,
which lessens profitability potential for new entrants. Nevertheless, Amazon, pursuing a
differentiation strategy, attempted to develop and market the Fire smartphone in 2014 to diversify
business activities (Rothaemel & McKay, 2015). One force Amazon encountered was the presence
of entry barriers. Established firms, Google and Apple, had proven brand recognition, economies of
scale, and loyal consumer base in the smartphone industry, and an entering firm, such as Amazon,
faced risk. From Amazon's view, entering into the smartphone market required significant capital
investment, with unpredictable effects, to develop a differentiated, price competitive product.
Furthermore, the threat of substitutes was high

Theu.s. Securities And Exchange Commission ( Sec )
GAAP is known as Generally Accepted Accounting Principle, and it is an accounting standard used
in the US approved by the U.S. Securities and Exchange Commission (SEC). On the other hand,
IFRS is an International Financial Reporting Standards. It is an accounting standard that is
commonly used in many parts of the world such as the European Union, Asia, and South America,
and some of the U.S companies slowly adopt IFRS(Diffen). The purpose of IFRS to create a
universal accounting rule or common language for businesses to understand especially for a foreign
investor to understand international accounting standard or the same accounting language. It is
considered to be opened an opportunity for new capitalist countries, for instance, China. ... Show
as a result, gross profit is $71,047. The net income for the year is $9,129 which mean that Ruckman
makes a profit.
Table 2 is a balance sheet of Ruckman. It displays the information about the company's financial.
Balance Sheet consisted of Assets, Liabilities, and Shareholder's Equity the Balance sheet has to
always be balanced. the formula is Assets = Liabilities + Shareholder's Equity. therefore, Liability
and owner's Equity has to be equal to Assets. Assets are the value that owns by Ruckman, Inc
company own which has total assets of $235,897. the total of current liability is $84,419 is the
amount that Ruckman, Inc owes to other people. Total equity is $151,478 . This number is the
amount of the contribution that shareholder, owner, and partner contributed to business in order to
direct investment or reinvest in the business by leaving profit inside the company. Hence, the total
liability and shareholder's equity are $235,897. since the total liability and shareholder's equity and
total Assets are equal, indicate that the Balance sheet is balance because the amount of Assets is
equal to liabilities plus Shareholders' Equity.
Table 3 is s Statement of Cash flows. Based Ruckman company 's Statement of cash flows, it is
considered to be an indirect method , as the Statement of cash flows shows the activity of net
income first and will make adjustments later in order to reconcile cash flow from the operating
activities. This

U.s. Securities And Exchange Commission
In today's world, debates over wages and compensation have been a growing topic of concern.
Many people feel that they are entitled to earn more than they currently are. The comparison of
executive wages and worker wages has created a backlash from the American public due to the
extreme differences in pay. The U.S. Securities and Exchange Commission adopted the mandate by
the Dodd–Frank Wall Street Reform and Consumer Protection Act that requires public companies to
release their chief executive officers pay in relationship to the median compensation of its
employees (U.S. Securities and Exchange Commission). Although this regulation does not take
effect until the 2017 fiscal year, many companies have previously made this data free ... Show more
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In my analysis, I will draw conclusions from scholarly sources and news articles, as well as look at
both sides of the matter from different philosopher's points of view. I will conclude by
recommending what I think should happen and look to the future of both scenarios. In order to
examine the effects of excessive CEO pay on the company's stakeholders, one must define the two
terms. Russell S. Whelton, a former graduate student at Saginaw Valley State University, defines
excessive pay as, "compensation that is 20% or greater than the national average CEO salary"
(Whelton 15). Therefore, excessive pay would constitute compensation over $13.8 million per year
(Chamberlain). A stakeholder is anyone who is directly affected by the performance of an
organization and thereby, holds a stake in that company (Schermerhorn 73). Some examples of
stakeholders are directors, shareholders, executive officers, and all employees. It is important to
understand why executive officers are compensated at the high levels they are today to determine
the benefits and disadvantages of the argument. The purpose of compensation at any higher level is
to "attempt to ensure that management actions result in successful performance for the firm"
(Ashley and Yang 369). Possible excessive compensation can be a result

United States Department Of Justice And The Securities And...
The United States Department of Justice and the Securities and Exchange Commission rarely
enforced the Foreign Corrupt Practices Act, enacted in 1977, until 2010– over a decade since its
modern reform in 1998. This surge in penalization of unethical acts such as bribery and other
methods used to ensure foreign business ventures has been called a "new era of FCPA enforcement"
by the DOJ, resulting in $1.8 billion in payments accrued from domestic firms and their foreign
partners, compared to $300,000 in 2000 (Kohler). Because of ambiguity within the legislation,
especially the undefined terms "foreign official" and "obtain or retain business," the U.S.
government is able to manipulate the FCPA for monetary gain, as well as shape foreign economies
based upon their own values. The FCPA was composed with good intentions: to end corrupt trade
and to create a more even playing field for American businesses. With that goal in mind, the Act is
seemingly viewed as a normative standard to promote fairness, asserting that transparency and
accountability are essential to building an honest and open global society. However the unclear
articulation of the texts have developed inconsistencies in the way the FPCA is enforced, allowing
organizations such as the SEC to utilize its broadness to target businesses, namely through the
agencies' interpretation of who a foreign official is and what it means to obtain or retain business.
Firstly, according to the SEC, a foreign official is anyone

U.s. Securities And Exchange Commission
This program evaluation contains the overall progress of the 529 plans and the benefits. The
objective of the 529 plans by the Government of United States of America is to provide advantages
to the college savers in availing the tax rebates and tax reductions. The educational system is
benefiting from these plans and the document provides the analysis of the factors that play their part
in the providing the benefit to the sector and the overall economy.
According to the U.S. Securities and Exchange Commission (2014), the educational system of the
United States is world–renowned and is well established. In the United States of America, the US
Department of Education controls different plans relating to the educational affairs in the country.
The previous Department of Education was developed in 1867 and was recreated in 1979. The
primary functions of this department are establishing the policy for administering support for the
education and conduct data collection from the schools and it enforces the rules and regulations
pertaining to the educational law. However, this department does not establish the schools in any
area of the United States. The below diagram explains the states that have the incentivized 529 plans
U.S. Securities and Exchange Commission (2014). Source:
http://cfed.org/blog/inclusiveeconomy/west_virginia_launches_new_college_savings_initiative/
In this evaluating, I am considering evaluating the 529 plan, which is introduced by the US
government to

Eli Lilly: The Securities And Exchange Commission Form 10-Q
Eli Lilly prepares their financial statements in accordance with the requirements of The Securities
and Exchange Commission Form 10–Q. It it's worth noting that the corporation in the For 10–Q
does not include information and/or footnotes necessary for a fair presentation of financial position,
results of operations, and cash flows in conformity with Generally accepted accounting principles
(GAAP). The company makes estimates and assumptions that affect the reported amounts of assets,
liabilities, revenues, expenses, and related disclosures at the date of the financial statements and
during the reporting period. Johnson and Johnson in the other hand, one of the company's top
competitors include adjustments consisting of normal recurring adjustments

The US Securities And Exchange Commission (SEC)
The U.S. Securities and Exchange Commission that was established in 1934 by the United States
Congress as an independent, quasi–judicial regulatory agency following the Crash of 1929. The SEC
is a federal agency that serves the purpose of administrating and enforcing when necessary federal
securities laws that were put in place to protect investors. A further look at what the SEC is and how
it is structured will be explained in this paper. Also a look at the federal laws that the SEC
administers and enforces will be divulged to further emphasize what the SEC is as well as what it
does. The distinctive reason the SEC was created was to "regulate the stock market and prevent
corporate abuses relating to the offering and sale of securities ... Show more content on
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The first of the major laws is the Securities Act of 1933 of which there are two objectives; it
"requires that investors receive financial and other significant information concerning securities
being offered for public sale and prohibits deceit, misrepresentations, and other fraud in the sale of
securities" (U.S., 2013). The second is the Securities and Exchange Act of 1934 this act gives the
SEC broad authority over the securities aspects including the regulation, overseeing and registering
of clearing agents, transfer agents and brokerage firms of which this may include SROs or self–
regulatory organizations. The third is the Public Utility Holding Company Act of 1935 which
regulates retail distribution of natural or manufactured gas and electric utility. The fourth is the Trust
Indenture Act of 1939 which applies to when notes, bonds or debentures are offered for public sale
this act applies to those debt securities. The fifth act is the Investment Company Act of 1940
"regulates the organization of companies, including mutual funds, that engage primarily in
investing, reinvesting, and trading in securities, and whose own securities are offered to the
investing public" (U.S., 2013). The final law is the Investment Advisors Act of 1940 "requires that
firms or sole practitioners compensated for advising others about securities investments must
register

Full Disclosure: US Securities And Exchange Commission (SEC)
According to Investopedia, full disclosure is the U.S. Securities and Exchange Commission's (SEC)
requirement that publicly traded companies release and provide for the free exchange of all material
facts that are relevant to their ongoing business operations. Full disclosure also refers to the general
need in business transactions for both parties to tell the whole truth about any material issue
pertaining to the transaction. (Investopedia 2016).
Full disclosure is crucial in how markets recognize financial reporting. Investors and users of
financial reporting rely on companies to provide complete, truthful, and transparent financial
reporting without misleading information. The full disclosure principle is essential for an
organization to ... Show more content on Helpwriting.net ...
For example, a post–balance sheet of subsequent events must be noted in financial statements
explaining full disclosure of qualitative transactions. Another example is readers of financial
statements must be told if the corporation sold property, acquired a subsidiary, experienced
extraordinary losses, settled litigations, or any other events within the post–balance sheet period.
The SEC has appointed auditors and accountants as agents to have the authority to monitor and
control these issues of financial reporting. However, an accountant of a company may make an
unintentional mistake when reporting financial statements, the important step to take is correct the
error as soon as it is discovery.
In conclusion, the Securities Exchange Commission, Financial Standards Board, and
Sarbanes–Oxley Act of 2002 has modified how corporations report full disclosure in financial
statements. The corporate scandals of corporations such as Enron is the reason for these strict laws
and requirements of financial reporting brought upon corporations today. These provisions of laws
and requirements ensure reporting full disclosure to protect external investment parties from
corporate

Audit Report
Introduction: Statement of problem: AppolloIspat Complex Limited incorporated the incorrect
financial statements for the year ended on June 30, 2011 with the Prospectus, which do not give a
true and fair view of the state of the company's affairs. For this unfair practice AppolloIspat
Complex Limited and ICB Capital Management Limited have been punished. Objectives of study:
This report is based on study purpose and the objective of the report is to gather knowledge about
law and punishment procedures regarding financial misstatement and auditing scandal maintained in
Bangladesh. Analyzing AppolloIspat Complex Limited's financial misstatement and the punishment
procedures we are trying to find out the auditors ... Show more content on Helpwriting.net ...
Disobedience of securities related laws by Appollo Ispat Complex Limited: Appollo Ispat Complex
Limited incorporated the incorrect financial statements for the year ended on June 30, 2011 with the
Prospectus, which do not give a true and fair view of the state of the company's affairs as of June 30,
2011 as the company has included 1.5415 acres of lands in the financial statements which do not
belong to the company, value of such lands overstated the company's assets as of June 30, 2011.
Even that, no disclosure has been made in the above–mentioned financial statements as well as draft
prospectus with regard to incorporation of such land in the financial statements. Incorporation of
such incorrect financial statements to the Prospectus (i.e., in the public offering document) is equal
to giving of false/incorrect information to the general investors/public. Submission of such
false/incorrect information/Prospectus incorporating in correct financial statements for the year
ended on June 30, 2011 is a violation of section 18 of the Securities and Exchange Ordinance, 1969.
Disobedience of securities related laws by ICB Capital Management Limited: ICB Capital
Management Limited–

Insider Trading: SEC v. Mark D. Begelman Essay
Overview of the Case: The Securities and Exchange Commission claims Mark D. Begelman
misused proprietary information regarding the merger of Bluegreen Corporation with BFC Financial
Corporation. Mr. Begelman allegedly learned of the acquisition through a network of professional
connections known as the World Presidents' Organization (Maglich). Members of this organization
freely share non–public business information with other members in confidence; however, Mr.
Begelman allegedly did not abide by the organization's mandate of secrecy and leveraged private
information into a lucrative security transaction. As stated in the summary of the case by the SEC,
"Mark D. Begelman, a member of the World Presidents' Organization ("WPO"), abused ... Show
Analysis: The facts of the case are circumstantial yet lay out a pattern of wrongdoing by the
defendant. Specifically that Begelman willfully used non–public information to his financial
advantage. The following timeline is indeed suspicious but no "smoking gun" or direct evidence of
wrongdoing. 1. Begelman attends a conference with the WPO. 2. The WPO includes members privy
to non–public information surrounding the merger. 3. Begelman maintains a close relationship with
said members. 4. Days before the merger is made public, Begelman initiates a trade for 25K shares
of Bluegreen stock 5. Begelman holds the stock for 15 days. 6. Begelman sells his position in
Bluegreen the day the merger is announced for a $14K realized gain. How strong is the case? It is
not definitive given the information available but in reality the truth does not matter. Mounting a
defense against the SEC makes little sense for Begelman. Being a civil case, criminal charges are
not a consideration. The state is seeking a civil penalty and a repayment of the gains (Securities and
Exchange Commission). If Begelman surrenders his profits and pays a penalty of $15K he is able to
avoid any admission of wrongdoing (Gehrke–White). Thus, it is pragmatic and financially beneficial
(avoid prolonged legal fees) for Begelman to settle and move on regardless of his actual guilt or
innocence. The only winner in the case is the State. The SEC effectively extorts $30K from the
defendant by

The U.S. Securities and Exchange Commission
The U.S. Securities and Exchange Commission In economic society, most people like to invest their
fortunes in the capital market and security market. As more and more investors join in the investing
market which is very complex and fascinating, and it can be successful. Unlike the deposits are
hypothecated by the federal government, stocks, bonds and other securities can lose value in capital
market because their no surety. So the security and exchange commission play an important role in
the capital market, and the important thing is the security and exchange commission demands the
public companies should be disclose the meaningful financial and other information to the public.
This provides an equitable environment and common knowledge ... Show more content on
Helpwriting.net ...
registrants of International Financial Reporting Standards (IFRS), issued by the International
Accounting Standards Board. (c) The Role of the Division of Trading and Marketing The role of the
Division of Trading and Marketing is that assists the Commission implement its responsibility for
maintaining fair, orderly, and efficient markets. The Division's staff provides monitor major
participants of the securities market, such as the securities exchanges; securities firms; self–
regulatory organizations (SROs) including the Financial Industry Regulatory Authority (FInRA), the
Municipal Securities Rulemaking Board (MSRB), clearing agencies that help facilitate trade
settlement; transfer agents (parties that maintain records of securities owners); securities information
processors; and credit rating agencies. The Division also monitors Securities Investor Protection
Corporation (SIPC) that makes sure securities and cash in the customer accounts of the failed
member brokerage firms. The additional responsibilities of Division include enforce financial
integrity program for broker–dealers of the Commission, reviewing recommended new rules and
change to existing rules submit by the SROs, assist the Commission to establish rules and publish
interpretations on matters affecting the operation of the securities markets, and monitor the markets.
(d) The Role of the Division of Investment Management The role of the Division of Investment
Management is that

Nextcard, Inc.
Assignment 1 – Nextcard, Inc.
ACC: Advanced Auditing
"Outside auditors play a crucial role in our nation's financial system. As the watchdogs of corporate
accounting, they are supposed to protect investors" (Hilzenrath, 2010). The question is how effective
are these outside auditors in protecting investors? When you think about the failures that have
occurred: Enron, WorldCom, Adelphia, Tyco, and Global crossing to name a few, one would really
question the effectiveness of these outside auditors. As a result of these failures, Congress pass the
Sarbanes Oxley Act of 2002. This act in turn created the Public Company Accounting Oversight
Board (PCAOB) to police the outside auditors and ensures they are protecting the investors. ... Show
There were multiple risk factors present in the Nextcard Inc. case. Thomas Trauger, auditor, had
authorized an unqualified opinion on Nextcard's 2000 financial statements although the evidence did
not justify an unqualified opinion. Nextcard had huge operating losses and had been reporting much
smaller allowances for bad debts than they had been observing. Their management regularly made
material understatements of the company's allowance for credit losses. Also most of the financial
decisions rested solely in the hands of Jeremy Lent, Chief Financial Officer. Another risk factor was
the fact that the executives had large amounts of stock and immediately sold them after the lock
down from the initial public offering was made. Events from 2000 that were notable include the
following: * During 2000, more than $1 billion of credit was issued to customers but it did not
translate to immediate profits and this fact was downplayed to the media and ignored in public
disclosures. * In February 2000 Nextcard announced they continued to beat aggressive growth
targets and boasted an average of $2000 per account. They omitted the fact that in 1999 they had a
loss of $77.2 million. * Insider trading – Lent and other colleagues sold large amounts of stock after
the lock–up period had passed. They took the company public knowing about the large losses.
Ernst & Young's motivation to

The Security And Exchange Commission
The Security and Exchange Commission Introduction The U.S. Securities and Exchange
Commission's essential obligation is to ensure protection for investors and keep up the quality of the
securities markets. The laws and standards that administer the securities business in the United
States get a basic idea: all investors, whether vast organizations or private people, have to have
admitted to certain essential facts around a venture before getting it. The Security and Exchange
Commission requires open organizations to unveil significant money related and other data to
people in general. The Security and Exchange Commission likewise regulates stock trades, brokers,
financial advisors, shared assets, and open utility holding organizations. Their essential worry here
is promoting exposure of sensitive data, authorizing the securities laws, and ensuring financial
specialists. The viability of the Security and Exchange Commission pivots upon its implementation
power. Every year the SEC brings between 400–500 common authorization activities against people
and organizations that infringe upon the securities laws. A portion of the common infractions
incorporates insider exchanging, bookkeeping misrepresentation, and giving false or misdirecting
data about securities and the organizations that issue them. Creation They set up the Security and
Exchange Commission in 1934. Its motivation was to apply the recently passed securities laws, to
advance dependability in the business sectors

The US Securities and Exchange Commission (SEC) Essay
Introduction The US Securities and Exchange Commission (SEC) is the US federal agency that
holds the primary mandate to enforce federal securities laws and regulations to control the securities
industry and the country's stock exchange and regulation of all activities and organizations including
the US electronic securities market. The SEC is committed to promoting a market environment that
yields public trust characterized by integrity to attain its mission of protecting investors through
maintenance of fair and efficient markets through facilitation of capital information (Basagne,
2010). The SEC financing is a major area of focus since there has been major concern regarding the
SEC agency financing and whether they utilize the ... Show more content on Helpwriting.net ...
Salaries and expenses collections are dedicated to implement SEC mission, functions and day–to–
day operation in accordance with the congress established limits. Law categorizes excess collections
in salaries and expenses categorized as non–budgetary fund managed by the treasury. Another
budget resource in the form of funds from dedicated collections is the investor protection Fund. The
fund is a dedicated collection that offers funding for whistleblower awards. This fund is financed by
part of the monetary sanctions accrued by SEC in administrative and administrative actions by the
SEC. The Reserved Fund On the other hand, the Reserved Fund is a portion of the registration fee
SEC collects which amounts to over $50 Million in each Fiscal year and is deposited in the reserve
fund. The balance for the reserve fund cannot exceed $50 million (Becker, 2012). The fund
incorporates dedicated collections that SEC obligates up to $100 million in each fiscal year with the
agency determining the use for which the fund is applied. The Miscellaneous Receipts Accounts
Another budget resource for the SEC is the Miscellaneous Receipts Accounts. This account holds
non–entity accounts and receipts sought from the custodial activities of the SEC that the agency
couldn't make deposits into the funds it has jurisdiction over. These forms of account include money
accrued from registration fees in excess amounts that is deposited into

Sec ( Securities And Exchange Commission
A. The Nature, Structure and Objective of Each of These Institutions SEC (Securities and Exchange
Commission): The SEC is created in the 1934 Act by Congress, primarily to enforce the newly–
passed security laws, to promote overall market stability and to protect investors. Currently, the
general mission of SEC is to protect investors, to facilitate capital formation, and to maintain the
fair, orderly and efficient markets. SEC has the authority to set accounting and reporting standards
for companies, who public trade their securities. It requires all the public companies to disclose
financial and other information to the public, so that ensure all the investors have access to basic
facts related to the investment before and after buying the investment. SEC oversees and regulated
the U.S. security market as well as works closely with many other institutions, including federal
departments, self–regulatory organization, state securities regulator and private sector organizations.
SEC has five main divisions, which includes corporation finance, investment finance, enforcement,
trading and marketing and economic and risk analysis. The corporation finance division regulates
and ensures the public companies to offer their basic financial information to all the investors. The
division also provides assistance and recommendations to the public companies related to the new
and exiting rules. The division of investment management provides guidance, disclosure,
rulemaking and risk

Overview of the Securities and Exchange Commission
The Securities and Exchange Commission has the mission of protecting investors by maintaining
fair, orderly and efficient markets. The SEC does this in a number of ways, and firms need to pay
attention to these ways in order to ensure SEC compliance. The SEC has enforcement authority over
a number of areas related to the nation's capital markets, including insider trading, accounting fraud,
and providing false information. The SEC's jurisdiction extends to all securities that are traded
publicly. Privately–held companies do not need to register with the SEC (SEC.gov, 2012).
Any firms seeking to sell securities to the public needs to undergo the registration process, which
includes among other things providing a description of the company's properties and businesses, a
description of the security to be offered for sale, information about the management of the company
and financial statements that have been certified by independent accountants (SEC.gov, 2012).
There are a number of different reporting requirements that are needed to comply with the SEC.
These include the provision of financial statements on a quarterly basis (10–Q) along with an annual
report (10–K). These statements must adhere to a specific format that governs how financial
statements are prepared, and how the information is presented. There are many sections to these
forms that must be included. Moreover, the information must be accurate, and prepared to guidelines
laid out in the Generally Accepted

The Case Of The Ontario Securities Commission And...
Background
Incorporated in 1984, Research in Motion, Canada's most successful and influential tech firm, used
to be a market leader in mobile phone industry. However, the company seems to be overtaken by a
series of deep–rooted dysfunction. RIM during the past years had grown unwieldy and unorganized.
Conflicting opinions and a lack of clear direction worsened an already difficult situation. All of the
evidence is showing that the management of RIM has failed: a number of high–level people left; the
market shares keep falling; product delayed; investors became angry; and an internal chaos
remained at this BlackBerry maker.
The 2006 governance reform at Rim seems not work well. There was not only the non–compliance
with regulations or accounting errors, but also drastic fall of company's shares due to strategic and
operational issues. The probe of the Ontario Securities Commission and Securities Stock Exchange
Commission, along with the concern of institutional investors, especially Northwest and Ethical
investment, forced RIM to look at its leadership and reform its board structure in 2011. This paper
will assess RIM's board structure in 2011 and present some recommendations to improve RIM's
governance and board structure.
RIM's Board Structure
The board structure of Research in Motion in 2007 was not stable (Ended March 3, 2007). There
were 2 directors, 2 co–CEOs – James L. Balsillie and Michael Lazaridis. And one of them, Balsillie
served as Chair of the board at the

The And Exchange Commission 's Mission Essay
The Securities and Exchange Commission's mission is to "protect investors, maintain fair, orderly,
and efficient markets, and facilitate capital formation." The purpose of this paper is to examine three
recent federal security laws to see if they uphold all parts of the SEC's mission. The three laws to
examine are Sarbanes Oxley Act (2002); Emergency Economic Recovery Stabilization Act (2008);
and Dodd Frank Wall Street Reform and Consumer Protection Act (2010). The Sarbanes Oxley Act
(2002) passed after the Enron fiasco of the early 21st century. Enron was able to trick investors by
using Special Purpose Entities which was allowed through GAAP standards, but nonetheless failed
to reveal the potential risks to the investors looking at its financial records. "Enron 's executives had
in fact fraudulently reported profits, but not debts, inflating its stock value and enabling it to obtain
some capital from ignorant financial institutions and other investors." (Kaal, 2016) Therefore, the
passing of the SOX Act provided two main points, the Public Company Accounting Oversight
Board and Title IV. PCAOB holds public accounting firms accountable. PCAOB works in
conduction with other CPA organizations, but it holds the ultimate authority over CPA organizations.
Title IV requires the full disclosure for any Special Purpose Entities and the impact that they might
have. Also pro forma calculations, figures based on future events that might occur, and personal
loans to

Literature Review : The Securities And Exchange Commission
Literature review:
Green (1994) said that there are many ways to supervise an enterprise and an audit committee is an
important proportion of this supervision. The Securities and Exchange Commission (SEC) in the
United States first provided a theory that every public enterprise should establish its own audit
committees in 1940 (SEC, 1940). After 1970, the SEC has passed the theory as practice (SEC,
1972), and the New York Stock Exchange (NYSE) suggested its members who listed in NYSE that
the audit committees made up of outside directors, which is non–executive directors (NYSE, 1978).
After a decade development of this suggestion, the Teadway Commission reinforced it, which
suggested that all public companies should be stipulated through ... Show more content on
Helpwriting.net ...
Similarly, there were relative requirements of independent audit committees in Canada (Toronto
Stock Exchange Committee, 1994). In recent 30 years, there were majority empirical researches
about the audit committees have been addressed in various areas in the range of world. For example,
DeZoort (1997) has completed the issues of audit committees' constitution and duties. What's more,
Beasley (1996) paid attention on the impacts of audit committees in organizational effectiveness,
which was the similar for McMullen D. A. (1996), who focused on the performance of audit
committees. The Securities and Exchange Board of India (SEBI, 2004) has illustrated the
regulations of audit committees for listed companies, which were all listed companies should have
an audit committee, and the committee must has more than three directors as members, what's more,
two–thirds of the members in the audit committees must be independent directors (non–executive
directors), and every member in the audit committees should be financially literate and at least one
of them has accounting or relative financial management expertise. SEBI also highlighted the
Chairman of the Audit Committee should be an independent directors (non–executive directors).
There are many researchers focused on the main point of effectiveness of audit committees

The Child Of Polish Immigrants
Born on April 29, 1938 in Queens New York Bernie Madoff was the child of Polish immigrants.
Madoff showed little interest in his early years for finance. He went on to graduate from Hofstra
University and married soon after. Madoff used a modest $5,000 he had saved and $50,000
borrowed from his father0in–law to begin his investment firm in the 1960s. On December 11, 2008
it all came to an end. Madoff would go on to plead guilty to 11 felony counts including but not
limited to securities fraud, mail fraud, wire fraud, money laundering, and perjury. Prosecutors would
claim that over $170 billion was moved through Madoffs firm over the years, just prior to his arrest
65 billion dollars was being shown on the financial statements. Bernie Madoff ran what is by
extreme measures the largest Ponzi scheme in world history. His investment company was
multinational and at its height handled more than five percent of the total trading volume on the
New York Stock Exchange. Ponzi schemes are operations in which the operator pays investor
returns from new capital paid to the operator by new investors rather than from profit earned. Ponzi
schemes often begin as legitimate investment businesses until the legitimate investment business
fails. Much is still debated as to when Bernie Madoffs operation become a Ponzi scheme. Bernie
Madoffs operation was dependent on feeder funds to bring in additional money to help the scheme
along. Going back to the earliest days of the Madoff fund two

Foreign Corrupt Practices Act :
Shivangi Patel
LAW 110 – MO1
Vincent Petraro
Foreign Corrupt Practices Act
Foreign Corrupt Practices Act was introduced in 1977.It was made effective from December
19, 1977. Foreign Corrupt Practices Act applies to all citizen of United State and certain foreign
issuers of security and foreign companies. The Minor changes were made in the year 1988 and in
1998.Foreign Corrupt Practices Act has two main Provision (a)Accounting Transparency under
Securities Exchange Commission, 1934. (b)Bribery of Foreign Officials.
Department of Justice (DOJ)and Securities Exchange Commission(SEC) are responsible for
enforcement of Foreign Corrupt Practices Act. Powerful influence of both Department of
Justice and Securities Exchange Commission ... Show more content on Helpwriting.net ...
However, due to enforcement of Foreign Corrupt Practices Act, the US exports decreased which
also resulted in decrease of Foreign Direct Investment because
Foreign Corrupt Practices Act discourages firms from investing in foreign markets. Companies
engaging in mergers and acquisition in emerging markets face uniquely increased level of regulatory
and corruption risk.
This is mainly due to three reasons:
1) In many foreign countries, informal payments substitute for formal economic institutions familiar
to enforcement officials in developed countries, implying that on formal payments reduce US
companies access to foreign economic institutions.
2) Foreign Corrupt Practices Act enforcement imposes direct cost on international investment
through fines. Profit disgorgement, and reputational degradation that occurs when companies are
targeted by Department of Justice and Securities Exchange Commission. Also, agencies possess
enormous scope while deciding which payments are to be classified as bribes.
3) The lack of clarity of informal payments which triggers increase in legal defense, and due
diligence spending by US multinational it raises the cost of investing in the foreign markets. To
compete in global markets US firms were trying to subvert anti–bribery legislation. They can
substitute financial contribution for hiring additional labors. Thus, they would reduce capital– to–
labor–ratio. American firms

Elaborate and Explain the Organizational Structure, Powers...
Introduction Aside from the Companies Act 1965, the primary laws governing the regulation of
securities and futures in Malaysia are the Securities Industry Act 1983, the Securities Commission
Act 1993 and the Futures Industry Act 1993. The term 'securities laws' is defined in the Securities
Commission Act as meaning these Acts as well as the Securities Industry (Central Depositories) Act
1991: section 2. References to these laws also include references to any regulations, rules, orders,
notifications and other subsidiary legislation made under them: section 2A, Securities Commission
Act. The Securities Industry Act , which is formed on the provisions and structure of the Australian
Corporations Law and the Hong Kong Securities and ... Show more content on Helpwriting.net ...
The Securities Industry Development Corporation is linked and reports directly to the Chairman.
Other than that, there are four other departments directly linked to the Chairman as well, which are:
a) Office of the Chairman; b) General Counsel; c) Corporate and International Affairs; and d)
Investor Affairs and Complaints. As stated in the organization chart from its website , the Deputy
Chief Executive is also directly under the Chairman, with two Managing Directors reporting to it.
Under these two Managing Directors are branches of five departments which are: a) Strategy and
Development; b) Issues and Investments; c) Market Supervision; d) Enforcement; and e) Corporate
Resources. By virtue of section 5 of the SCA, no member of the Securities Commission shall hold
full time office in any public listed company. In an effort to dispel even the remotest appearance of
lack of impartiality or risk of conflict of interests, a member of the Securities Commission or any
committee who has or acquires a direct or indirect interest in relation to any matter under discussion
by the Securities Commission or any committee is required to disclose the existence of his interest
and the nature hereof. Failure to disclose may render the affected member guilty of an offence and
shall on conviction be liable to a fine not exceeding RM250,000 or imprisonment not exceeding five
years or both. Functions of the Securities Commission

The Role of Securities Exchange Commission
Part I. The system by which American companies compiled and present their financial accounting
standards is the generally accepted accounting principles (GAAP). This system is "a common set of
principles, procedures and standards" to ensure that there is a high level of consistency in
accounting statements in the country (Investopedia, 2013). The IFRS (international financial
reporting standards) is a similar set of standards that is widely used internationally, in over 100
countries including most of continental Europe.
The role that the Securities Exchange Commission (SEC) plays in financial statements is as one of
the primary enforcement bodies. The SEC mandates, for example, that publicly–traded firms must
produce financial accounting statements to GAAP standards four times per year, and the SEC has
enforcement mechanisms to ensure that these statements accurately reflect the financial condition of
the company (SEC.gov, 2007). Within the SEC is another body, the public company accounting
oversight board (PCAOB), which is charged with overseeing the activities of the auditors of public
company accounting statements. The financial statements that are compiled are presented, along
with extensive notes explaining the figures, in the 10–K and 10–Q forms. An annual report is an
optional document that a company has no legal obligation to produce, nor is there any guidance for
its production. The annual report, however, will almost always be accompanied by the 10–K, which
is

The Securities And Exchange Commission: Principal Federal...
The Securities and Exchange Commission (SEC) is an important factor to the principal federal
regulatory agency. it is an agency that regulates the securities industry. The main goal of the
Securities and Exchange Commission is to protect investors and maintain the integrity of the
securities markets. Numerous individuals rely on upon the SEC for regulating government securities
laws that ensure speculators. The SEC additionally guarantees that securities markets are reasonable
and fair and, if fundamental, authorizes securities laws through the proper approvals. Essentially, the
SEC directs the exercises of all members in the securities markets–including freely held enterprises,
open utilities, venture organizations and consultants, and securities ... Show more content on
Helpwriting.net ...
is the headquarters. The SEC divisions include Corporation Finance, Trading, and Markets,
investment Management, enforcement, Economic and Risk Analysis. The Corporation Finance
regulates the exposure made by open organizations, and the enrollment of exchanges, for example,
mergers, made by organizations. The division is additionally in charge of working EDGAR. The
Trading and Markets helps the Commission in executing its obligation regarding looking after
reasonable, organized, and proficient markets. Some of their obligations are completing the
Commission's budgetary respectability program for representative merchants, exploring proposed
new standards and proposed changes to existing guidelines documented by the SROs, helping the
Commission in setting up tenets and issuing translations on matters influencing the operation of the
securities advertises and surveilling the business sectors. The Division of Investment Management
offers the Commission in executing its commitment some assistance with regarding financial
specialists protection and for propelling capital course of action through oversight and regulation of
America's $26 trillion hypothesis organization industry. The Division of Enforcement helps the
Commission in prescribing to execute its law necessity limit the start of examinations of securities
law encroachment, by proposing that the Commission get normal exercises government court and

The Securities And Exchange Commission

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