Bernard Madoff Case Essay
Before you start to do this paper, one of the first things you should note is that, it is always advisable to read and understand what is required of you; so that when conducting your research you will know what to look for. I have provided you with a list of references at the end of this solution for which you can read through them before your start your analysis. After reading through articles/journals etc. you should then next proceed to create an outline of your analysis. By forming an outline you will be better able to attack each issue in an orderly manner. I have provided a suggested outline for you below (followed by a more detailed approach): * Introduction (which may include a brief overview of the life of …show more content…
This research paper will reflect on a number of questions, including how this fraud was executed; who were the perpetrators, accomplices and victims; how was the fraud discovered; what were some of the possible red flags; and what role did the SEC play in discovering the fraud. In addition to this, mention will be made of how the case was resolved and what are some of the measures that could have deterred or prevented the fraud from occurring in the first place. Since the introduction of Sarbanes Oxley’s Act and the harsh economic times which we live in, all efforts have to be made to enforce strict rules and regulations within financial institutions, so that investors and other stakeholders’ interests are protected. Had closer attention been given by the Securities Exchange Commission and other regulators to the ‘Red Flags’ associated with Madoff and his firm, it would have prevented the financial scam and many would not have lost billions.
Bernard Madoff Investment Securities (BMIS) Madoff, Bernard Madoff Investment Securities (BMIS) was described as a broker-dealer firm that engaged in three principal types of business,