U.S. Securities and Exchange Commission

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    conduct in a trustworthy and respectable manner so clients are treated fairly. However, with the desire and the possible underlying goal to maximizing profits, corporations often are faced with ethical dilemmas, such as Bernard L. Madoff Investment Securities, LLC, which was run by Bernard “Bernie” Madoff. Madoff orchestrated a ponzi scheme for nearly 18 years by attracting investors, falsifying statements, and through the use of feeder funds. Bernie Madoff was a well…

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    amount of material and nonpublic information is contained in daily trade, it common that interest-motivated insiders may make use of it to conduct insider trading. Insider trading is defined as trading of securities in possession of relevant material, nonpublic information, in breach of fiduciary duty (U.S. SEC, 2013). In 2013, Hong Kong was struck with an astonishing insider trading case committed by Du Jun, the former Morgan Stanley managing director, who…

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    The Madoff Ponzi Scheme

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    suffered a bad month, even when the market was down and he confessed later that he achieved this by creating a pyramid scheme in which the existing clients’ returns were topped up, as needed, with money from new investors (The Economist). According to the U.S. Attorney's office in the southern district of New York, Madoff admitted to defrauding clients for up to $50 billion in a massive Ponzi scheme that was committed over a number of years (Gandel). Madoff used a Ponzi scheme, which lured in…

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    financier. Bernie Madoff was a well-known and a well-liked man on Wall Street. Madoff had a perfect reputation, not only in the investment market, but socially. He ran an elaborate Ponzi scheme at his investment company, Bernard Madoff Investment Securities. Madoff was born on April 29, 1938, in Queens, New York, to parents Ralph and Sylvia Madoff. Ralph, the child of Polish immigrants, worked for many years as a plumber. His wife, Sylvia, was a housewife and the daughter of Romanian and…

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    In 2009 in America, Bernard Madoff, one of the most famous business men in the United States and a part-builder of the largest financial pyramid in American history, was convicted. It was one of the most known and big investment scandals in the history of Wall Street. Bernard Madoff, the founder of the Financial Pyramid, which attracted a huge sum around $50 billion, threw the USA in shock. Since the mid-60s of the last century, the name Madoff was synonymous with scrupulous honesty and…

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    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…

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    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.…

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    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…

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    be held liable for issuing an incorrect opinion on Cardozo & Co.’s financial statements. Investors who purchased shares at the IPO and those who purchased shares in anticipation of the merger can sue me, the auditor, since under section 11 of the Securities Act of 1933 I am an expert who issued an opinion on Cardozo & Co.’s financial statements and they relied on that information to invest on the firm. Just the fact that the investor suffered a loss because of my work, is enough for me to be…

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    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…

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