U.S. Securities and Exchange Commission

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  • The Pros And Cons Of Insider Trading

    information is made public. For example “David Carpenter, Kenneth P. Felis, and R. Foster Winans, Petitioners vs. United States”. In this case R. Foster Winans was sentenced in 1985 for informing two stockbrokers about stocks and columns that have high predictable value on the market. R. Foster Winans disclosed this information to the stock brokers before the company made the information available to the public. The crime that was committed in this case is referred to as insider trading. Insider trading is when employees inside of a company have access to profitable information that has not been made available to public in regards to the stock market. In addition, insider trading is unethical because insider trading violates the U.S. Securities and Commission guidelines,…

    Words: 763 - Pages: 4
  • Dallas Gold & Silver Exchange: A Case Study

    Dallas Gold & Silver Exchange, a jewelry company, created and filed with the Commission materially inaccurate financial statements since 2009. I. John Benson, the Chief Financial Officer of DGSE, was found to manipulate the amounts of inventory for 2009 and 2010 by inflating millions of dollars (Jacobson, 2012). He exploited the inappropriate controls of DGSE and made some fraudulent accounting entries; He concealed them with false inventory details and management representation letter. Mr.…

    Words: 1671 - Pages: 7
  • Case Study Of Bernie Madoff

    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…

    Words: 1793 - Pages: 8
  • The FASB And The IASB (IFRS)

    Today’s global business landscape is one of constant change. The accounting industry like all others, is experiencing the effects of globalization and as the U.S. accounting industry continues to press forward with replacement of rules-based accounting standards under the U.S. Generally Accepted Principles, with principles-based accounting standards under International Financial Reporting Standards, adoption of IFRS is inevitable. Leading the push for a single set of high-quality International…

    Words: 1043 - Pages: 5
  • Jordan Belfort Case Study

    After being charged with securities fraud, stock manipulation, money laundering, and other organized crime tactics (NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC), Belfort was sentenced to 4 years in prison and a $110.4 million dollar fine. However, after pleading guilty to fraud and money laundering along with testifying against his fellow associates, Belfort was given a reduced sentence of 22 months in Taft Correctional Center where he later wrote his biography. Daniel Porush was also…

    Words: 1096 - Pages: 5
  • Business Ethics: Tyco Scandal

    Tyco also is said to have artificially inflated stock and benefitted abundantly (U.S. Securities and Exchange Commission 2002). Another ethical issue includes Tyco’s auditing firm, PricewaterhouseCoopers, who failed to recognise the corrupt accounting, which led to continuous unethical behaviour, as they grew confident nobody could stop them. Top executives’ depletion of Tyco’s funds not only is illegal as it is stealing but also is considered corruption and manipulation of loopholes. The…

    Words: 938 - Pages: 4
  • Financial Reporting Fraud

    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 (Callahan, n.d.a, p. 1). Nevertheless, since the inception of the SEC, there have been…

    Words: 707 - Pages: 3
  • Case Analysis: School Versus Work

    employment with is not registered properly as required under the Securities Act of 1933, the first thing I would do if find out why. According to the SE website, there are exemptions allowed for certain securities, including “private offerings to a limited number of persons or institutions, offerings of limited size, intrastate offerings, and securities of municipal, state, and federal governments” (U.S. Securities and Exchange Commission, 2011, para. 3). It is also of importance that these…

    Words: 1704 - Pages: 7
  • Madoff Securities Fraud Case

    Madoff Securities Madoff securities, is a company created by Bernard l. Madoff Investment Securities LLC was founded in the year 1960 by Bernard Lawrence Madoff, who happened to be also be senior executive of the company. Bernard Lawrence started the company using accumulated funds of $ 5,000 from his business that involved the installation of sprinkler systems for wealthy New Yorkers. In his five years as executive, the company accumulated a fortune estimated at more than one billion dollars. …

    Words: 1363 - Pages: 6
  • The Ethics Of Insider Trading

    Investors rely on financial statements and information as it is very important to the decisions they make. When this information is leaked or used prior to its release to the general public, it can cause substantial changes in the pricing of a company’s stock. “Insider trading” is a term that is commonly known to investors, but what is insider trading? This term in most cases is references to illegal actions. However, the term speaks to both legal and illegal actions. According to the U.S.…

    Words: 984 - Pages: 4
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