...Mary Schapiro In her role at the SEC, Mary Schapiro was known as one of the world's most powerful female regulators. She was named chair in the midst of the worst financial crisis since the Great Depression. As chairman, she helped strengthen and revitalize the agency by overseeing a more rigorous enforcement program and shaping new rules for Wall Street. During her tenure, the agency's work force brought about a record number of enforcement actions and achieved significant regulatory reform to protect investors. Schapiro leaves behind an agency that has regained its footing, stature, and morale following desultory leadership under its previous two chairmen and its embarrassing lack of action preceding the financial crisis. Under Schapiro, the SEC, which is usually thought to be the most prominent and important financial regulatory body in the country, brought a huge number of enforcement actions against financial institutions. Her job was to assess what went wrong and to ensure it didn’t happen again. During four years as SEC chairman, Schapiro presided over one of the busiest rule-making agendas in the SEC's history, during which the agency also brought a record number of enforcement actions, and executed a comprehensive restructuring program to improve protections for investors. Upon her departure, President Obama praised her leadership, saying the SEC became stronger and the financial system "safer and better able to serve the American people-thanks in large part to Schapiro's...
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...Mary Schapiro and SEC Management and leadership SEC • Criticism for failing to predict, control or even contain the GFC • Under its watch Bernard Madoff, managed to operate the largest Ponzi scheme and Lehman brothers collapsed, bringing down business confidence and reputations • Regulators and traders were investing in schemes they did not understand and whose behaviour they could not predict • The SEC was exposed as ill-equipped to deal with the chaos after the GFC • US govt handed the financial sector a multi-billion dollar bailout • In 2010, it SEC reached it largest ever settlement when Goldman Sachs was fined $550 million for committing fraud by misleading investors about mortgage securities • Lack of attention to detail to every level of an enterprise Mary Schapiro • Career regulator • She was appointed by the president to assess what went wrong and to ensure it did not happen again • 29th chairman of the SEC and this first female chair • Restoring the agency’s vigour and credibility within the financial regulatory community • A high functioning, agile and intelligent agency, that is committed to investor protection and market integrity is necessary to ensure the success of the economy • Time pressed • Main priorities 1. Assessing what needs to be done within the organisation 2. Shifting the agency’s focus back to protecting the investor 3. Acknowledging its mistakes • Resigned from the SEC to join Promontory financial as a consultant • On...
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...investor protection and market integrity. Mission: Restoring SEC’s vigour and credibility within the financial regulatory Community. Value: vigor, credibility, high functioning, agile, intelligent, commitment, integrity. Goal: Financial Customer Internal process Learning and growth Mary set up three strategic themes/priorities to pursue • Operational levers, • People, • and organization levers that assisted in achieving those options. Three priorities a) Assessing what needed to be done within the organization (internal assessment) [ First get the right people and then lead the strategy ] 1. Schapiro recruited analysts and people who understood trading, market structure, corporate governance and a whole range of skill sets that would be important for the future. 2. She recruited people from Wall Street to restructure the SEC’s largest division – enforcement and examination - “to make this regulator more responsive, more agile and clever and capable of seeing around corner to figure out where the next problems were before they hit us in the face”. 3. Schapiro leveraged the SEC talent by bringing in new invigorating leadership. 4. Talented staffs on its books were sent to qualify as certified fraud examiners; a whole layer of management was removed and was reassigned to the front line 5. Specialized units was set up to focus on areas of concern such as corrupt foreign practices, insider trading, market manipulations...
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...Mary Schapiro's job was to fix the SEC. She didn't stop there. Meet the tenacious regulator who had a remarkable four-year run THE STRATEGIST02 SEP 2013 By LYNDA DUGDALE Mary Schapiro was appointed the 29th chairman of THE SEC and its first female chair | Photo: Andrew Goldie The US Securities and Exchange Commission (SEC) was reeling in the wake of harsh but justified criticism for failing to predict, control or even contain the global financial crisis. Under its watch, fraudster Bernard Madoff managed to operate the largest Ponzi scheme in history and Wall Street stalwart Lehman Brothers collapsed, taking billions of dollars, business confidence and reputations down with it. It was a heady time with traders investing in schemes they, let alone the regulators, didn’t understand and whose behaviour they couldn’t predict. Related: SEC skirmishes over standards The SEC, along with many of the world’s financial regulators, was starkly exposed as ill-equipped to deal with the chaos erupting across the globe. The US Government snapped into crisis mode and took the extraordinary move of handing the financial sector a multibillion-dollar bailout. But still the economy shook. Enter Mary Schapiro, a career regulator, to rescue a languishing SEC. Her job was to assess what went wrong and to ensure it didn’t happen again. Schapiro was appointed by US President Barak Obama as the 29th chairman of the SEC and its first female chair – though that fact, she says, got lost...
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...heady time with traders investing in schemes they, let alone the regulators, didn’t understand and whose behaviour they couldn’t predict. Related: SEC skirmishes over standards The SEC, along with many of the world’s financial regulators, was starkly exposed as ill-equipped to deal with the chaos erupting across the globe. The US Government snapped into crisis mode and took the extraordinary move of handing the ¬financial sector a multibillion-dollar bailout. But still the economy shook. Enter Mary Schapiro, a career regulator, to rescue a languishing SEC. Her job was to assess what went wrong and to ensure it didn’t happen again. ¬ Schapiro was appointed by US President Barak Obama as the 29th chairman of the SEC and its first female chair – though that fact, she says, got lost in the enormity of the task assigned to her. “When I joined in June 2009, my thought was of restoring the agency’s vigour and credibility within the financial regulatory community,” Schapiro told INTHEBLACK during a visit to Sydney recently. “I understood how really critical it was to the success of our economy to have an agency that was high functioning, agile and intelligent, and committed to investor protection and market integrity. “I think I had about a day as opposed to 100 days,” she says of the much-touted first 100 days used by many executives tasked with turning a flailing company around. So how does an executive go about picking up the pieces and...
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...Mary Schapiro’s job was to fix the SEC. She didn’t stop there. 1. Kotter’s eight steps As already noted, the SEC was starkly exposed as ill-equipped to deal with the chaos erupting across the globe. It was under strong criticism for the serious fraud of Bernard Madoff and the collapse of Wall Street stalwart Lehman Brothers. Accordingly, Mary Schapiro, a career regulator, was appointed the 29th chairman of SEC to save a languishing SEC. She changed the way they were doing things at the SEC including creating new structures, procedures, and programs to better address the modern financial markets as an urgent need to restore the credibility and public confidence in the SEC. This analysis is based on Kotter’s (1995) eight-step process for leading successful change. a. Establishing a sense of urgency The chairwoman argues that urgency is critical. Schapiro developed a change program with three priorities comprising internal assessment, investor protection focus and mistakes acknowledgement. The mission was to turn the SEC to be a high functioning, agile and intelligent, and committed to investor protection and market integrity. b. Creating a guiding coalition In order to able to manage the change process, she brought in new leadership and new senior team. The new leadership team set about retraining, skilling up and motivating the SEC’s talent staff. In addition, the investor –focused agenda was putting in place. The board and senior management and then all levels of decision...
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...Mary Schapiro is a level 5 leader. The level 5 leader displays qualities of personal humility and fierce resolve. Level 5 leaders are often underestimated or overlooked, and are quiet often shy, quiet and give the impression of being timid. However, this is often accompanied by fearless and ferocious resolve. The fundamental qualities of a level 5 leader are a combination of personal humility and deep professional dedication. Level 5 leader are courageous and disciplined. Fierce resolve requires making tough and possibly unpopular decisions, and following them through in the face of adversity. Selecting the right people for the right job and removing unsuitable people is a fundamental for success. Transformational Leadership They provide individualized consideration and intellectual stimulation, and possess charisma. People need to be encouraged, refreshed, empowered, and nurtured. The leader adds vigor, life and energy to them. She can reflect the image of her vision and her values that inspire people to work. This leadership style is built on top of the transactional style, in which leaders guide and motivate their followers in the direction of established goals by clarifying role and task requirements. SEC was in need of complete transformation and overhaul. Phase 1 of transformation restoring the agency’s vigour and creditability within the financial regulatory community. Detailed analysis of external and internal environment reveals considerable...
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...玛丽•夏皮罗的工作是解决美国证券交易委员会。她并没有就此停止。 满足了顽强的监管谁了显着的四年运行 兵家2013年9月2日 由LYNDA DUGDALE 玛丽•夏皮罗被任命为第29届会长 美国证券交易委员会和它的第一位女性主席|图片:安德鲁•戈尔迪 美国证券交易委员会(SEC )的缫丝的苛刻,但合理的批评之后未能预测,控制,甚至包含了全球金融危机。 根据其手表,骗子马多夫管理,以¬操作上最大的庞氏骗局在历史上和华尔街伟岸雷曼兄弟倒闭,取数十亿美元,商业信心和声誉下跌。 这是一个令人兴奋的时间与交易商投资于他们的计划,更遑论监管,不理解,其行为他们无法预测。 相关阅读:美国证券交易委员会的小规模战斗过的标准 美国证券交易委员会,以及许多世界各地的金融监管机构,被赤裸裸地暴露为没有能力处理全球各地的混乱爆发。 美国政府啪陷入危机模式,并交给了该¬金融部门数十亿美元的救市的非凡之举。但仍然是经济震动。 进入玛丽•夏皮罗,职业监管,抢救一个含情脉脉的美国证券交易委员会。她的工作是评估什么地方出了错,并确保它没有再次发生。 ¬ 夏皮罗被任命为美国总统巴拉克奥巴马作为美国证券交易委员会的第29届主席和第一位女性主席 - 虽然这个事实,她说,迷失在分配给她的任务有多么艰巨。 “当我加入了2009年6月,我的想法是恢复金融监管社区内机构的活力和公信力, ”夏皮罗说INTHEBLACK访问期间,悉尼最近。 “我的理解它是如何真正的关键是我们经济的成功有一个机构,这是高功能,灵活和智能,并致力于保护投资者和市场的完整性。 “我认为我对,而不是100天一天,”她说,备受吹捧的头100天里使用的许多高管负责周围转动挥舞公司。 那么,如何执行去收拾残局和最大的金融灾难在现代历史上的一个后制定的4000员工一个联邦监管机构恢复计划? 夏皮罗说,她有三个重点:评估什么需要在组织内进行;换档机构的焦点回到保护投资者;并承认自己的错误。 新主席需要一个新的高管团队。 “我需要招募新人才,新技能,该机构并没有传统上 - 它一直很律师为中心,我的观点是,我们需要¬分析师和人民谁知道交易,市场结构,公司治理和整体那将是重要的未来的技能范围, “她说。 她也需要人来重整美国证券交易委员会最大的部门 - 执法检查 - “使该稳压器反应更灵敏,更敏捷和聪明,能够看到周围的角落,以找出其中的下一个问题是,他们打我们的脸前。有很多伟大的人谁愿意离开华尔街,坐在桌子的另一边,我们注意到了充分利用。 “ 但夏皮罗,谁该机构从1988年专员至1994年曾表示,美国证券交易委员会也有优秀的员工在其书,谁需要更多的“振兴领导”员工的职业生涯。新的领导团队开始再培训,提高技能和激励员工。 借力是一个字夏皮罗使用了很多,当她谈到战略和她说,她通过引进新的领导利用了美国证券交易委员会的天赋。 “它结束了是非常有建设性的, ”她说。 夏皮罗会见美国总统奥巴马 和财政部盖特纳部长 工作人员被送往资格成为注册舞弊审核。辗转管理的一整层和那些员工被调往前线。 另外万多员工被分为专业单位,以重点关注的领域,如腐败国外的做法,内幕交易,市场操纵及结构性产品 - 这个以前从未在SEC进行。 该战略的工作和SEC看到两个记录年执行。所有这些都是对新技术的平台来实现。夏皮罗说,证交会已经“技术饿死” 。 她的第二优先是把设备到位,以保证“麦道夫”可能不会再发生该机构。她把它称为投资者为重点的议程,她的领导下的一个标志。 有关于她的办公室门上的牌子,上面写着:“它是如何帮助投资者”她预期,大家从工作人员到银行到交易所的成员来解决这个问题在与她讨论。...
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...Case Scenario 1: Impact of online shopping on shopping centres in Australia Industry The industry in question is the Australian Shopping Centre industry. Value Chain Value chain is not really relevant as the shopping centre spaces are simply rented out. Industry Life Cycle The industry is currently in the Maturity stage of its life cycle however could be entering into the shake-out stage in as little as 5 years. The figures provided by Mary Meekers suggest that online shopping will account for 12% of all retailing in the US by 2019 with online retailing in 2011 accounting for 4% and currently an estimated 8%. The figures in Australia are expected to be even greater. This presents a steady trend of traditional retailers becoming less necessary. The demand for retail space will therefore reduce together with shopping centres growth and profitability. However if retailers were to adapt to the new style of shopping and added value to their in store retailing together with an integrated online sales platform, traditional brick and mortar stores may continue to operate effectively. PESTEL – Remote Environment Analysis Political – Public perception of lost jobs may force local governments to attempt to keep retail outlets from closing their doors. (Positive) Economic – Retailing is highly dependent on the strength of the local economy. Sales figures are expected to rise by 0.3% in the next 5 years. This can be partially explained by the expected increase in strength...
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...Managerial Analysis General Electric Company (GE) . Principles of Management (MGT 1120) Name: Caleb M Bruce Date:11/30/2015 Company Background 1. General Electric Company (GE) international headquarters is located in Fairfield, Connecticut 06828 at 3135 Easton Turnpike. Being among the largest multinational corporations, it conducts business internationally in Angola, Australia, Brazil, Canada, China, Indonesia, Korea, and the United States of America as well as in six of the seven continents and in over 170 countries worldwide. 2. General Electric Company offers many products and services. GE provides financing to and for other growing organizations. This organization is key to the infrastructure of the global economy by providing billions of dollars to funding of other organizations. This organization also builds and produces appliances such as clothes washers, and dryers, dish washers, refrigerators and much more on an everyday consumer level to a corporate consumer level. They also are a big influence in lighting from how the electricity is transferred, to the bulb itself. They also produce power systems so large or home facilities can operate. Mainly with electric providing power generator support. Ge makes extensions into their aviation and automotive fields by building engines for the forms of transportation. 3. One of the original founders of GE is Thomas Edison in the year 1890. Entrepreneur Thomas Edison brought multiple of his companies together...
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...Notice of 2013 ANNuAl MeetiNg ANd Proxy stAteMeNt April 24, 2013 New orleans, louisiana Notice of 2013 ANNuAl MeetiNg of sHAreoWNers Time and Date: 10:00 a.m. central time, April 24, 2013 Location: ernest N. Morial convention center, 900 convention center Blvd., New orleans, lA 70130 March 13, 2013 Dear Shareowners: You are invited to attend General Electric Company’s 2013 Annual Meeting of Shareowners to be held at the Ernest N. Morial Convention Center, 900 Convention Center Blvd., New Orleans, LA 70130, on April 24, 2013, at 10:00 a.m. Central Time. Following a report on GE’s business operations, shareowners will vote: • to elect the directors named in the proxy statement for the coming year; • to approve our named executives’ compensation in an advisory vote; • to ratify the selection of our independent registered public accounting firm for 2013; and • on the shareowner proposals set forth on pages 44 through 49, if properly presented at the meeting. Shareowners also will transact any other business that may properly come before the meeting. You are eligible to vote if you were a shareowner of record at the close of business on February 25, 2013. Please ensure that your shares are represented at the meeting by promptly voting and submitting your proxy by telephone or the Internet, or by completing, signing, dating and returning your proxy form in the enclosed envelope. If you plan to attend the meeting, please follow the advance registration instructions under...
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...Citation: 18 Duke J. Comp. & Int'l L. 151 2007-2008 Content downloaded/printed from HeinOnline (http://heinonline.org) Thu Oct 17 14:15:18 2013 -- Your use of this HeinOnline PDF indicates your acceptance of HeinOnline's Terms and Conditions of the license agreement available at http://heinonline.org/HOL/License -- The search text of this PDF is generated from uncorrected OCR text. -- To obtain permission to use this article beyond the scope of your HeinOnline license, please use: https://www.copyright.com/ccc/basicSearch.do? &operation=go&searchType=0 &lastSearch=simple&all=on&titleOrStdNo=1053-6736 EXCHANGE CONSOLIDATION AND MODELS OF INTERNATIONAL SECURITIES REGULATION Bo HARVEY* INTRODUCTION In recent years, globalization and a growing demand for capital have increased competition within the capital markets for the business of issuers and investors.! This has led stock and derivatives exchanges to change their business models from mutual business entities, run for the benefit of their members, to demutualized corporations, run for the benefit of shareholders Consequently, as for-profit corporations, exchanges have looked to position themselves more competitively in an internationalized securities market. Part of such positioning has included increasing exchange alliances and acquisitions on a global scale. This is highlighted by the recent merger between the New York Stock Exchange (NYSE) and Euronext (the new entity to be known as NYSE-Euronext). With financial markets...
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...e eBook Collection This is a Protected PDF document. Please enter your user name and password to unlock the text. User Name: Password: Unlock Remember my user name and password. If you are experiencing problems unlocking this document or you have questions regarding Protectedpdf files please contact a Technical Support representative: In the United States: 1-877-832-4867 In Canada: 1-800-859-3682 Outside the U.S. and Canada: 1-602-387-2222 Email: technicalsupport@apollogrp.edu. This document is published by:Apollo Group, Inc. ISBN 1-256-49231-0 joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka jokaGlossary joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka joka ...
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...62118 0/nm 1/n1 2/nm 3/nm 4/nm 5/nm 6/nm 7/nm 8/nm 9/nm 1990s 0th/pt 1st/p 1th/tc 2nd/p 2th/tc 3rd/p 3th/tc 4th/pt 5th/pt 6th/pt 7th/pt 8th/pt 9th/pt 0s/pt a A AA AAA Aachen/M aardvark/SM Aaren/M Aarhus/M Aarika/M Aaron/M AB aback abacus/SM abaft Abagael/M Abagail/M abalone/SM abandoner/M abandon/LGDRS abandonment/SM abase/LGDSR abasement/S abaser/M abashed/UY abashment/MS abash/SDLG abate/DSRLG abated/U abatement/MS abater/M abattoir/SM Abba/M Abbe/M abbé/S abbess/SM Abbey/M abbey/MS Abbie/M Abbi/M Abbot/M abbot/MS Abbott/M abbr abbrev abbreviated/UA abbreviates/A abbreviate/XDSNG abbreviating/A abbreviation/M Abbye/M Abby/M ABC/M Abdel/M abdicate/NGDSX abdication/M abdomen/SM abdominal/YS abduct/DGS abduction/SM abductor/SM Abdul/M ab/DY abeam Abelard/M Abel/M Abelson/M Abe/M Aberdeen/M Abernathy/M aberrant/YS aberrational aberration/SM abet/S abetted abetting abettor/SM Abeu/M abeyance/MS abeyant Abey/M abhorred abhorrence/MS abhorrent/Y abhorrer/M abhorring abhor/S abidance/MS abide/JGSR abider/M abiding/Y Abidjan/M Abie/M Abigael/M Abigail/M Abigale/M Abilene/M ability/IMES abjection/MS abjectness/SM abject/SGPDY abjuration/SM abjuratory abjurer/M abjure/ZGSRD ablate/VGNSDX ablation/M ablative/SY ablaze abler/E ables/E ablest able/U abloom ablution/MS Ab/M ABM/S abnegate/NGSDX abnegation/M Abner/M abnormality/SM abnormal/SY aboard ...
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