Australian Securities Exchange

issuing securities. An investment bank may also assist companies with mergers and acquisitions that may provide support services in trading of various securities. There are significate procedures put in place to help investment bankers regulate businesses practices like registration, loan syndication to raise large amounts of capital, and market making for profits. Registration, Under the Securities Act of 1933 was put in place to ensure investor received significant information about…

QUESTION 2 Start the question by defining a Ponzi and a Pyramid scheme; A Ponzi Scheme: "A con artist offers obligations that promise very high returns at seemingly very low risk from a business that does in fact exist or a secret idea that does not work out. The con artist helps himself to the investors' money, and pays a promised high returns to earlier investors from the money handed over by these and later investors. The scheme ends when there is no more money from the new investors"(Frankel…

For years, Madoff was an admired figure on Wall Street and a seemingly very savvy investor and successful business man, but the ostensibly large returns he was generating and the growing balances shown on clients’ account statements were all illusions. Bernard Madoff was actually running a Ponzi scheme, using money from some of his investors to make payouts to others. During the stock market meltdown of 2008 and client desires to retract their investments, Madoff exposed his now failed scheme…

White-collar crime, according to Merriam-Webster, refers to, “a crime that typically involves stealing money from a company and that is done by the people who have important positions in the company”. In modern society, white-collar crime may not be as obvious as violent crime, but its consequences leave major impacts on the world, particularly financially. Beginning in 2002, Wells Fargo began transforming into one of the largest criminal enterprises in history. Over the past 15 years, this…

Charles Ponzi was a person who was notorious for his Ponzi scheme in the 1920s, and several others have committed fraudulent acts since then. Fraudulent acts are obtaining something through deception. A lot of fraudulent acts are committed by business students, possibly containing a lack of morals, and science students are also often accused of containing a lack of morals. This paper aims to analyze the connection between low morals, business students, and science students claimed by an…

regulated NYMEX (New York Mercantile Exchange), which is a commodity exchange and ICE (Inter-continental exchange) which is a unregulated OTC (Over-the-counter) market. They had huge trading positions in Natural gas futures, options and swaps, but primarily they were into contract futures trading…

I believe that the auditors in this case, Ernst & Whinney, should have great blame in not having the sufficient information and knowledge to fall into the pressure of the bribes committed by Minkow and analyze the fraud that was occurring. The upper management in ZZZZ Best made the financial information seem perfectly fine, therefore the auditors were unable to identify any miscalculations that would then lead to fraud. Minkow and his company for years kept on staling the fact that his insurance…

Jack Abramoff was the top lobbyist in D.C. from 1994 to 2001 and was involved in arguably one of the largest scandals in American history. This scandal involved many other people and some main players were Michael Scanlon, Adam Kidan, Ralph Reed, Tom Delay, and Bob Ney. All of these people either received bribes, gave out bribes, or were involved in some other type of illegal activity. Abramoff’s scandal was based mainly around his lobbying work with the Mississippi Band of Choctaw Indians and…

INTRODUCTION Bernard Madoff was a former chairman of NASDAQ stock exchange. He started his investment advisory firm on his own. He has be guilty for the defrauding of the investors of amount $50 billion which he was running the biggest Ponzi scheme for around two decades. In 2008 December when there were economic disturbances and meltdown in the United States Madoff couldn't carry his functions and satisfy his Investors requests of cash. He decided to come clean and accept the fraud he has…

Section 12 of the Securities Exchange Act of 1934 (Title 15, United States Code, Section 781) and is required to file periodic financial reports under Section 13(a) of the Securities Exchange Act of 1934 (Title 15, United States Code, Sections 78m(a) and 78o(d)). In preparing its income statement, HealthSouth deducted the contractual adjustment from its gross revenues to get net revenues, which were reported in the periodic financial reports and filed with the U.S. Securities and Exchange…