The merge of Suncor, Petro-Canada resulted Suncor Corporation, Suncor article of organization indicates that the company resulted from an amalgamation, under section 185 of the Canada Business Corporations Act. The minimum number of directors are 8 and the maximum are 15. Suncor energy Inc is licensed to issue unlimited number of preferred shares in series designated as Senior and junior, also it authorized to issue unlimited number of common shares, This means that there is no limit as to how many common shares can be issued. (By doing so the corporation can issue shares as many times as it wishes without amending the articles of incorporation 3.1 Ethical business conduct. WHAT IS BUSINESS ETHICS? Ethics is a philosophical term derived …show more content…
Suncor's business leaders and managers, workers in general they represent all act according to high ethical and moral standards. The most significant commitments of Suncor are integrity and ethical issues, and Suncor considers them the foundation for business conduct. The code demands firm compliance with legal requirements and design standards for the ethical conduct of Suncor’s business, allowing Suncor to keep the confidence of its customers, colleagues, shareholders, vendors and the governments and communities where Suncor does business …show more content…
In addition to above restrictions Suncor implemented appropriate practices, standards and procedures with respect to the disclosure of material information, one of these regulations is about Persons who have knowledge of undisclosed material information relating to public companies are prohibited from trading in shares and other securities under several securities and criminal laws. Suncor will response with the requirements of Securities Laws respecting disclosure of material information, and All Suncor Personnel will comply with the requirements of applicable law relating to trading in shares and other securities. Any reference of conduct include violations of Securities Laws, will be instantly and totally investigated. Suncor Personnel who trade or inform in contravention of Suncor’s prohibitions in trading securities are subject to criminal, civil and statutory penalties including fines, and subject to disciplinary action, which may include immediate dismissal. 3.2 Social
While the widely exposed and discussed trials of WorldCom's and Tyco's top executives were all over the media, one of the most interesting cases of securities fraud was happening without any public acknowledgement.
By proactively addressing ethical issues with a code of conduct, Raiders Inc. can set the standard regarding how they want employees to behave. Employee can be trained on the company code of ethics so they understand how their company expects them to respond. They can also train them on the biases of decision making, to make sure they are aware of the pitfalls that exist. (Robbins & Coulter, 2012)
Jeffery Archer is accused of insider trading with the shares of Anglia TV. Jeffery bought shares for the “inside information” of the companies dealing account, the day after the last board meeting but before the bid was announced. He should have known that even if he found out insider information from his wife the law makes it clear that he cannot deal or trade with that stock. It would be considered unfair to the rest of the shareholders, because other shareholders would not have the same information like Jeffery. As we know the buying and selling of shares must be based on public information
The ethical code of an organization illustrates the importance of being honest, acting with integrity, and showing fairness in decision making (Bethel, 2015). Ultimately, “laws regulating business conduct are passed because some stakeholders believe they cannot be trusted to do what is right” (Ferrell, Fraedrich, & Ferrell, 2015, p. 95). In the last couple of years, culture has become the initiator for compliance, which means from the top down there has to be a commitment to act in a way that represents the company’s core values (Verschoor, 2015).
What is NAEYC Code of Ethical Conduction and Statement of Commitment, well to understand what it does and how it works, you may need to get a little background information. For starts, the Code of Ethics was created for professions sense of identity. The primary focus was to have a day to day relationship with children and their families. They then created Ideals and Principles, they were given each a job for the code to work, Ideals was to reflect and Principles was to have a guide and something that can assist to get a resolving a dilemma.
I will be analyzing EMCOR Group’s code of ethics. Their code of ethics is not lacking in corporate social responsibility. They clearly define what is expected in their code of ethics when dealing with customers, suppliers, competitors and employees. For example, they clearly define that when dealing with these parties employees must deal in a fair manner. EMCOR group (2013) states “EMCOR companies should not take an unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or any other unfair-dealing practice”.
Insider trading, just like with any other company, is a big rule in the stock market business. This means that if someone has information that is not public, they should not use that to their advantage in the market. Even a transaction that seems improper must be avoided. Trades are monitored very closely and Cisco cooperates with government agencies for investigations. Cisco employees are also not allowed to pass on information they know to their family or friends to avoid a loss or make a profit. This would be a breach of corporate confidentiality. Employee should avoid talking about work in public places so information isn’t slipped
Sunbeam committed the following two fraud schemes while Al Dunlap was the company’s Chief Executive Officer (CEO): (1) Improper Timing of Revenue Recognition via Bill Hold Sales, Consignment Sales, and Other Contingency Sales and (2) Overstating Earnings via Improper Use of Restructuring Reserves. A series of detection methods were utilized in each fraud scheme to determine the indicators that proved that Sunbeam was involved in manipulating its financial data. The most utilized method for detecting Sunbeam’s fraud was Financial Statement Analysis. Utilization of Annual Reports and Disclosures were utilized just as much as Corporate Research and Media while Business Plan Analysis was ranked as being the fourth most used. Finally; leadership
These laws allow prosecution of people who manage other people’s money, they are the Investment Advisors Act of 1940 and the Investment Company Act of 1940. These two laws monitor and regulate the activities of investment advisors and regulates and impacts the operations of hedge funds, mutual funds, private equity funds and the holding companies. Some people have speculated that the SEC is overworked and underfunded, while others think there is corruption or that the SEC is ineffective, inefficient and just missed all the “Red Flags”. While a conclusion will not be drawn here, many of these ideas can apply as the information is laid out within the time line of investigations.
Shell, Richard G. "When Is It Legal To Trade on Inside Information." MIT Sloan Management Review Fall 2001: 89-90.
The Pinellas County Student Code of Conduct is presented to all students and families to help make sure everyone stays safe and understands the expectations that are required while working and learning in the school system. But, conflicts do occur for some students that may make it hard for them to follow these rules. For students with a different background, culture, religion, physical or mental ability their beliefs may interfere with the rules stated in the Student Code of Conduct, which can be sometimes challenging for the students. How do we help make this small percentage of students feel comfortable while helping them follow the rules of the school system?
1. Legal, ethical and professional principle frameworks underpin all fields of nursing, and it is a requirement for all Registered Nurses to be competent and knowledgeable, act with integrity and maintain professional standards set out by Nursing and Midwifery Council (NMC, 2015). Working with multidisciplinary teams within our profession, it is important to acknowledge and recognise the way in which all the professionals are guided by law and their independent regulatory bodies. The needs of the individual patient is to be considered by doctors and nurses alike, who share professional values and are set out in the respective codes of practice, The Code (NMC, 2015) and GMC (2013).
When it comes to business, ethical conduct and transparency, “an environment of openness in which all participants in a conversation or organization activity receive access to the information needed” (Baak, 2012), are the standards at the helm of what determines and drives the success and sustainability of a company. Chairman and CEO of Aflac Insurance Dan Amos, has learned the necessities of exercising ethical principles and has gained national recognition for his ethical business practices amongst his employees and the millions of customers that are a part of the successful company. Aflacs employee satisfaction business principles have contributed to Aflac being named as Forbes 100 Best Companies to Work for in America (Grillo, 2010).
Additionally, Samsung has established an Ethical Management (Anti-Corruption) System which allows “… employees and other stakeholders to confidentially and anonymously report violations of (their) ethical standards” (People 31). It has successfully aided in resolving over 1,820 cases in the past three years (People 28-33). This system is a risk-free way for any stakeholder to bring up issues they may see in the company. This also provides feedback to the managers and helps to prevent ethical dilemmas from occurring in the
A code of conduct applies to all staff including employees, vendors and board members and international staff. The code will help guide the ethical conduct within this company. Furthermore, the code reflects the integrity of this company and protects the reputation of this company. It is the duties of all staff members to follow these guidelines in the course of their work within this company. These guidelines reflect the ideas of the Americans with Disabilities Act, Equal Employment Opportunity Commission and all Civil Rights laws. Employees and staff alike that do not follow the Code of Conduct will be documented and proper discipline leading up and to termination will follow.