Securities Exchange Act of 1934

In December 2008, Bernard "Bernie" L. Madoff owner of Bernard L. Madoff Investment Securities LLC wasarrested for committing a $50 billion investment fraud, which later was found to be $65 billion (Bernard L. Madoff. February 9, 2009).Bernard Madoff 's business was an investing firm that pulled off a massive fraud. His firm took money from several people, rich or poor, it did not matter. His victims were Jewish philanthropists from the Upper East Side of New York, almost half the members of the…

BHP Billiton: Case Study Overview BHP Billiton, formed 2001, is a multi-billion dollar single business entity established by parent companies BHP Billiton Ltd and BHP Billiton Plc, and is currently among the worlds’ top producers in major commodities such as iron-ore and copper. BHP’s main product, iron-ore, is primarily extracted within Australia and Brazil (Worlds’ Top Exports, 2017). Nonetheless, it attracts a largely diversified market, with the main purchasers being Asian nations such as…

The crash had immediate effects on the New York Stock Exchange, being as it may that there was a staggering amount of sell orders in the previous week causing a few clerical errors that they needed to fix (Brennan 66). They had to make sure that everything was right and that they did not do anything wrong. The…

Depression, the Securities Act of 1933 was enacted with the purpose regulating the offer and sale of securities (SEC, n.d.). The Securities and Exchange Commission (known hereafter as the SEC) was then created from The Securities Exchange Act of 1934 and given the responsibility of overseeing the securities industry and regulating conduct in various exchanges (SEC, n.d.). Under these Acts, firms were held accountable for informing investors of information necessary for the purchase of…

Overview of BHP Billiton BHP Billiton (BHP) is a combined group consisting of BHP Billiton Limited and BHP Billiton Plc with Global Headquarters and BHP Billiton Limited company located in Melbourne, and BHP Billiton Plc located in London. The company operates as one entity with a unified management team and the same board of directors. BHP operates in the diversified resources industry with mines extracting copper, iron ore, coal, nickel, zinc, and petroleum amongst others across the globe with…

fiduciary duty to the corporation whose securities the defendant traded. Essentially, the duty to disclose requirement of Texas Gulf Sulphur was found to be met if the defendant owed a fiduciary duty to a third-party, and breached that duty by making use of the inside information for his personal benefit. The theory of liability was therefore based on “a fiduciary’s undisclosed, self-serving use of a principal’s information to purchase and sell securities, in breach of a duty of loyalty and…

place. The Sarbanes-Oxley Act of 2002 was created to enforce financial reporting regulations and the punishments for non-cooperation. Before 2002, the regulations for financial reporting were less severe than they are presently. Companies weren't as worried about being under the radar if they decided to engage in fraudulent financial practices. There has been many impacts of the Sarbanes-Oxley Act on corporate financial reporting. The Sarbanes-Oxley Act The Sarbanes-Oxley Act introduced the…

FirstBank is fortunate because the top four banks in its market are not local community banks. This gives the Bank an advantage in local relationship-based banking and customer loyalty for being a local business. The same customer base also relies on a local bank to provide quality products and services like the big national banks. FirstBank stays on the leading edge of technology which helps portray a big bank environment and provides all the products and services offered by the big banks.…

SWOT Analysis The SWOT Analysis is an integral part of the situational analysis of an organization. In evaluating the strengths, weaknesses, opportunities, and threats of a business, valuable information can be obtained concerning critical issues which may have the potential to positively or negatively affect the future success of the organization. The SWOT Analysis begins with an internal assessment of the firm’s strengths, and weaknesses, and then looks at the external opportunities and…

Following the pervasive financial losses which occurred as a result of the great depression, the U.S. Securities and Exchange Commission (SEC) was established with the guiding principle to instil confidence in current and potential holders of stocks and bonds that publicly traded companies are managing funds efficiently and appropriately, which is to be achieved through “full disclosure” of the organizations’ financial performance in the form of quarterly and annual financial statements…