Considering the recent criminal conduct of Bernard Madoff in the world of finance, indicating whether the Securities and Exchange Commission (SEC) is an effective regulatory agency.
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A:
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Considering the recent criminal conduct of Bernard Madoff in the world of finance, indicating whether the Securities and Exchange Commission (SEC) is an effective regulatory agency.
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- Describe the Sarbanes Oxley Act and its impact on internal controls and financial reporting.Why is there a need for regulation of the financial system? What are the objectives of the FMA and of RBNZ Prudential regulation, as set down in legislation? What are current challenges facing the FMA and RBNZ as financial regulators?Define the functions of the Over-The-Counter’s financial market that treasury staff must be aware of when funding their exposures with securities
- Define the Prudential regulation of corporate/commercial Banking for CDD and anti-money laundering (M) and operations (O).Which of the following regulatory events in the 20th century potentially influenced the financial sector? Passing of the Glass-Steagall Act Establishment of the Securities and Exchange Commission (SEC) Establishment of the Federal Reserve Banking System Repeal of the Glass-Steagall Act Securities Investor Protection Act passedIf an investment bank offers both underwriting/distribution functions and investment advisory or management functions, which situation would be acceptable under U.S. Securities and Exchange regulations and ethics guidelines with regard to material non-public information (MNPI)?
- What committee deals with the judiciary functions of banks?the Anti Money Laundering Council existence is to protect the integrity of the Financial and Non Financial Institutions. In your opinion, will there be any implication if we do not have any Money Laundering related laws or regulation?Which of the following is a provision of the Sarbanes-Oxley Act? a. Lessens penalties for corporate fraud b.Developed the Consumer Financial Protection Bureau c. Recommends codes of ethics for financial reporting in corporations d. Makes fraudulent financial reporting a civil offense e.Requires greater transparency in financial reporting
- What is the role of the Core Principles of Effective Bank Supervision as it relates to operational risks, in the effective management of financial institutions?The Securities and Exchange Commission’s mission is to regulate the securities markets by requiring full disclosure of information and preventing fraudulent activities. However, it does not regulate registration and reporting for every type of financial security. Required a. Briefly describe the markets and securities that are regulated by the SEC. b. Provide two examples of securities that are not subject to the SEC’s registration and reporting rulesPrudential regulation is generally seen to deal with: a. Systematic risks in the financial sector. b. The inherent risks of the profit seeking motive of a Financial Institution. c. Prudential breaches by the Financial Institution. d. The systemic risks that a Financial Institution can pose if its failure can easily lead to the failure of other financial institutions.