Exchange Commission Essays

  • The Securities And Exchange Commission

    537 Words  | 2 Pages

    The Securities and Exchange Commission In 1934 the Securities Exchange Act created the SEC (Securities and Exchange Commission) in response to the stock market crash of 1929 and the Great Depression of the 1930s. It was created to protect U.S. investors against malpractice in securities and financial markets. The purpose of the SEC was and still is to carry out the mandates of the Securities Act of 1933: To protect investors and maintain the integrity of the securities market by amending the current

  • Securities And Exchange Commission Vs. Richard Hawkins

    1331 Words  | 3 Pages

    Securities and Exchange Commission vs. Richard H. Hawkins 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. Richard Hawkins, ex-CFO of a health service industry giant McKesson, was accused and later brought to court for inflating revenue at McKessonHBOC. The acquisition of HBOC, a medical software company, happened long after Hawkins

  • Sam Rayburn Achievements

    526 Words  | 2 Pages

    the House floor. His legislative accomplishments include authorship of the Truth in Securities Act of 1933 and the Railroad Holding Company Bill. A year after those he authored bills that created the Securities and Exchange Commission and the Federal Communications Commission. In 1935, he co-authored the Rural Electrification Act, which helped to bring electricity to most rural homes in America. As Democratic majority leader, Sam Rayburn guided President Franklin Roosevelt's New Deal programs

  • Changing the Security and Exchange Commission Regulations

    2417 Words  | 5 Pages

    I would like to propose the following changes and/or additions to the Security and Exchange Commission’s regulations. These changes are in regards to the last ten years of corporate fraud in the financial world involving such companies as Enron, WorldCom, Tyco, and Xerox. The primary changes include the addition of a Reserve Bond and an adjustment in the Bounty Payment program. Secondary changes include a Board of Directors mix-up program for securities companies, and SEC involvement in external

  • Insurance Fraud

    595 Words  | 2 Pages

    businessman named Douglas Maxwell to join him in etablishing the Frankel Fund. The Frankel Fund was an investment partnership in which the limited partners had to invest at least $50,000 each. In 1991 the Frankel Fund failed and the Securities and Exchange Commission banned him from dealing with securities business for life. After that he using false names he set up the Creative Partners Fund LP. This fund was another scam like the Frankel Fund but the minimum investment was only $10,000 and it spread through

  • Charles H. Keating

    1584 Words  | 4 Pages

    Charles H. Keating Jr. has been the focus of criminal investigations by the Federal Bureau of Investigation, the Internal Revenue Service, the Justice Department, The Securities and Exchange Commission, and the House Banking Committee for a six-year shadow of the nation’s biggest savings-and loan debacle. The federal government proclaims that he fraudulently managed California’s Lincoln Savings into its closure, and in the process profited for himself and his family an estimated thirty-four million

  • Internet Fraud

    2975 Words  | 6 Pages

    become very widespread in recent years. Internet fraud was first monitored by the Internet Fraud Watch organization in 1996. The Fraud Watch has stated that each year after its inception internet fraud has increased. In 1998, the Securities and Exchange Commission established the Office of Internet Enforcement to fight online securities fraud which was another sign of how large the problem is becoming (Clausing). Despite the SEC¡¦s efforts this problem has not been alleviated, but instead continues to

  • Sarbanes Oxley Act of 2004

    1715 Words  | 4 Pages

    Sarbanes-Oxley consisted of 11 different titles or sections. Title I is Public Company Accounting Oversight Board. It created a five member panel known as the Public Company Accounting Oversight Board, overseen and appointed by the Securities and Exchange Commission (Sarbanes-Oxley). The Board is to consist of two CPAs and three people that are not CPAs, but the chairman must be a CPA. The Board is to provide oversight of auditing of public companies while establishing auditing, quality control, independence

  • Healthsouth: The Rise and Fall

    1926 Words  | 4 Pages

    Executive Officer (CEO) of the corporation for more than 20 years. A Biographical Sketch: Richard Scrushy and HealthSouth. Retrieved March 22, 2005, from the World Wide Web: http://www.richardscrushy.com/biography.aspx. The U.S. Securities and Exchange Commission charged HealthSouth Corporation and CEO Richard Scrushy with fraud, alleging the earnings of HealthSouth have been extremely overstated since approximately 1999. Bassing, T. (2003, March 19). SEC charges Scrushy; 41.4B civil fraud alleged. Birmingham

  • Insider trading

    614 Words  | 2 Pages

    on the basis of materials unpublished, price-sensitive information possessed as a result of one’s employment.(Insider Trading)” Ivan Boesky pleaded guilty to the biggest insider-trading scheme discovered by the United States Securities and Exchange Commission (SEC). He made 200 million dollars by profiting from stock-price volatility on corporate mergers. What he actually did was cheat by using illegally obtained secret information about impending mergers to buy and sell stock before mergers became

  • Accounting

    2347 Words  | 5 Pages

    Accounting On September 28, 1998, Chairman of the U.S. Securities and Exchange Commission Arthur Levitt sounded the call to arms in the financial community. Levitt asked for, "immediate and coordinated action… to assure credibility and transparency" of financial reporting. Levitt’s speech emphasized the importance of clear financial reporting to those gathered at New York University. Reporting which has bowed to the pressures and tricks of earnings management. Levitt specifically addresses five

  • Accounting Regulatory Bodies Paper

    721 Words  | 2 Pages

    structured as agencies, associations, commissions, and boards. Without companies like the Security and Exchange Commission (SEC), The Financial Accounting Standards Board (FASB), the Governmental Accounting Standards Board (GASB), Internal Accounting Standards Board (IASB), Internal Revenue Service (IRS), and other regulatory bodies a company could not make well informed decisions. In this paper the author will look at only four of them. Security and Exchange Commission (SEC) The first one of the organizations

  • Financial Regulation in the UK and Ireland

    2163 Words  | 5 Pages

    regulation of their conduct of business; Investigation, enforcement and discipline; Regulation of investment exchanges and clearing houses; Regulation of collective investment schemes. The change has been a move away from largely self-regulation to a combination of self-regulation and government interventionist regulation. Before 1997 the UK relied ‘primarily on private regulation (by the stock exchange and, to an increasing extent, by the institutes of chartered accountants).’ (Benston, 1985). The regulation

  • The History of Auditing

    3399 Words  | 7 Pages

    The History of Auditing Abstract The evolution of auditing is a complicated history that has always been changing through historical events. Auditing always changed to meet the needs of the business environment of that day. Auditing has been around since the beginning of human civilization, focusing mainly, at first, on finding efraud. As the United States grew, the business world grew, and auditing began to play more important roles. In the late 1800’s and early 1900’s, people began to invest

  • Insider Trading: SEC v. Mark D. Begelman

    624 Words  | 2 Pages

    Overview of the Case: The Securities and Exchange Commission claims Mark D. Begelman misused proprietary information regarding the merger of Bluegreen Corporation with BFC Financial Corporation. Mr. Begelman allegedly learned of the acquisition through a network of professional connections known as the World Presidents’ Organization (Maglich). Members of this organization freely share non-public business information with other members in confidence; however, Mr. Begelman allegedly did not abide

  • The Consolidated Supervised Entity (CSE)

    1332 Words  | 3 Pages

    The SEC’s mandate “The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.” (U.S. Securities and Exchange Commission: What We Do, 2016). When we consider the Enron and Madoff scandals and the stunning collapse of several large U.S. investment banks in 2008, one has to conclude that the SEC failed in fulfilling its basic mission. From one perspective, the effects of the Enron and Madoff scandals

  • Bernie Madoff Theory

    709 Words  | 2 Pages

    The Story of Bernie Madoff and the Securities and Exchange Commission Ponzi schemes are a continuing problem in the investment world and can only be stopped if the Securities and Exchange Commission does better safe guarding investors’ money. This paper will address Bernie Madoff’s Ponzi scheme and how he was able to steal billions of dollars from investors. The reasons why the SEC responded so slowly to Bernie Madoff’s Ponzi scheme, and what can be done in the future to make sure another

  • Dracca's Senior Vice President Of Sales

    1138 Words  | 3 Pages

    Marley and his sales representative Bill Farian committed insider trading, which under the Securities and Exchange Act of 1934 is listed as a security fraud (U.S. Securities and Exchange Commission, n.d.). Insider trading involves trading of a public company’s stock or related securities by individuals with access to non- public information about the company (U.S. Securities and Exchange Commission, n.d.). There are two types of insider trading: the first involves the trading of a company’s stock or

  • Essay On Financial Accounting Principles And Analysis

    1311 Words  | 3 Pages

    EPS of $5.11. Retrieved May 19, 2014, from http://news.walmart.com/news-archive/investors/2014/02/20/walmart-reports-q4-underlying1-eps-of-160-fiscal-2014-underlying1-eps-of-511 Wal-Mart Stores, Inc. Form 10-K (2014, March 21). NYSE, New York Stock Exchange > Listings > Listings Directory Wal-Mart Stores, Inc.. Retrieved May 18, 2014, from http://secfilings.nyse.com/filing.php?doc=1&attach=ON&ipage=9482653&rid=23 Wild, John J. (2012): Financial Accounting: Information for Decisions

  • Effects of Regulation with the Sarbanes-Oxley Act

    1322 Words  | 3 Pages

    Sarbanes Oxley and Why Does It Change Everything? Retrieved from Ask Dave Taylor.com: http://www.askdavetaylor.com/what_is_sarbanes_oxley_and_why_does_it_change_everything/ The Sarbanes-Oxley Act of 2002 . (n.d.). Retrieved from Security and Exchange Commission: https://www.sec.gov/about/laws/soa2002.pdf Velasquez, M., Andre, C., Shanks, T., S.J., & Meyer, M. J. (2010). What is Ethics? Retrieved from Santa Clara University: https://www.scu.edu/ethics/practicing/decision/whatisethics.html