...SEC Regulations In today’s society where there seems to be an increase in attention toward unethical behavior organizations must adhere to the laws set forth by the SEC. It is now more critical than every that organizations establish policies and processes to ensure that it is complying with the rules and regulations put in place by the Securities and Exchange Commission. Barnes and Noble Inc., meet’s the SEC’s reporting requirements through the use of technology, internal disclosure controls, internal controls over financial reporting, and independent accounting auditors who verify that these controls are in place and working as intended. The SEC requires that Barnes & Noble posts all Interactive Data Files required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months. After studying the proxy statement for Barnes & Noble, Inc., the filings show that historical SEC filings are listed by category for a variety of required reports, including forms 8-K, 10-Q, 10-K, and proxy statements. Barnes & Noble requires that SEC filings are signed by a senior management member like. In Barnes & Nobles case the 8-k SEC filing was signed by the Chief Financial Officer. This helps ensure that the filings are correct, comply with SEC reporting requirements, and are properly communicate to stakeholders in the management of Barnes & Noble, Inc. The organization uses internal auditing committee called the “Audit Committee “. The Audit Committee...
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...MGMT 520- Legal, Political, and Ethical Dimensions of Business Keller Graduate School of Management May 15, 2014 I choose “Federal Employees Health Benefits Program Coverage for Certain Intermittent Employees”. The Office of Personnel Management controls this proposed regulation. I am pursuing my MBA with a concentration in accounting, but my second choice would have been HealthCare management so by choosing this regulation I will have a better understanding of the type of regulations currently in place or being proposed. At this time the regulation proposed does not have a direct impact on myself, nor the business I am in. I have attached a copy of the proposed regulation at then end of this assignment. The Office of Personnel Management is proposing to temporary adjust the Federal Employee Health Benefits Program regulations to make sure employees who work sporadic schedules are eligible to be enrolled in a health benefits under the Federal Employees Health Benefits Program (FEHBP). The Office of Personnel Management intentions on proposing this regulation is to allow agencies such as the Federal Emergency Management Agency also known as FEMA to apply to OPM for “authorization to offer FEHBP coverage to intermittent employees engaged in emergency response functions.” The Office of Personnel Management is proposing to provide health coverage to those who work as temps/part time in emergency response functions. This proposal should...
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...Research Study Capital-Market Effects of Corporate Disclosures and Disclosure Regulation Christian Leuz Peter Wysocki June 26, 2006 Commissioned by the Task Force to Modernize Securities Legislation in Canada Christian Leuz Christian Leuz is currently the Professor of Accounting at the University of Chicago, Graduate School of Business. He is also the David G. Booth Faculty Fellow. Prior to this position, Professor Leuz was the Harold Stott Term Assistant Professor in Accounting at the Wharton School of the University of Pennsylvania and Fellow at Wharton’s Financial Institution Center. His research interests include transparency and corporate governance, financial disclosure and securities regulation, and the links between the institutions of market economies. Professor Leuz earned his doctoral degree and “Habilitation” at the Goethe University Frankfurt in Germany. His most recent publications have appeared in the Journal of Financial Economics, the Journal of Accounting and Economics and the Journal of Accounting Research. He is an Associate Editor of the Journal of Accounting and Economics and serves currently on the Editorial Board of The Accounting Review, the Journal of Accounting Research, the Journal of Business, Finance and Accounting, and the International Journal of Accounting. He has received several grants and honors, of which the Geewax Terker Prize is the latest. Peter Wysocki Professor Peter Wysocki is an associate professor of management at...
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...and Enron incidents, Sarbanes Oxley Act was established to regulate auditors and public company. After Late 2000’s mortgage crisis and others, Dodd-Frank and JOBS Act was established to regulate financial industry under federal government. Federal regulation seems like always came after a big crisis or downfalls to fix the issue and hopefully prevent future reoccurrence. However, federal government looked like a little bit too reactive because the regulations were always enacted after something bad happened. To make the matter worse, there is no way to proactively prevent any or all frauds or misconducts from happening due to their variety of types. In order to discuss should Sarbanes Oxley, Dodd Frank and JOBS Act be repealed, let’s look into each Act individually and in a more detail sense, In Sarbanes Oxley, some of the important aspects that SOX 2002 deals with are auditor independence and enhanced financial disclosures. It also established Public Company Accounting Oversight Broad (PCAOB) to monitor and oversee public firm’s financial activities. Because there was lack of Audit regulations, it later leaded to the big Enron fraud. Therefore it was clear that something has to be done in order to provide a more sound regulation for auditors to comply with. If we look at since 2002, there are not many significant fraud discoveries, means SOX has been somewhat efficient, if not at all. For Dodd Frank, according to Search Financial Security, the legislation aims to prevent...
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...Throughout the HR processes a main priority is the examination of the employment laws and the effects of how they are used. Divisions that house the employment laws such as the US Department of Labor (USDOL), the Equal Employment Opportunity Commission (EEOC), Department of Homeland Security (DHS), etc. are important divisions that all HR departments must maintain up-to-date information from to ensure that the processes are staying in line with the regulatory requirements such as the Americans for Disability Act of 1990 (ADA). All of these laws, acts, divisions, regulations, and requirements are what led to litigation between employees, clients served, and the organization. These types of litigations bring to mind whether or not common sense and compassion in the workplace has been reduced by this type of litigation. Effects of Legal, Safety, and Regulatory Requirements on HR Processes Laws, acts, and regulations have been placed for organizations to follow throughout history. These laws, referred to as HR laws are the main reason that there are HR and legal departments. “Understanding and complying with HR law is important for three reasons. It helps you do the right thing, realize the limitations of your firm’s HR and legal departments, and minimize your firm’s potential liability” (Gomez-Mejia, et al. p.88). Understanding these HR laws will also enable an organization to determine the effects that the laws can have on...
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...Introduction Government regulation is around us everywhere. The government needs to make sure that the public’s interests are maintained and preserved. Being an accounting student, I have heard and read about regulation in the accounting industry numerous times. There have been many major accounting scandals in history that have lead to many different kinds of government regulation. The government regulations in accounting are mostly enacted to protect investors. From 2000 to 2002 there was an abundant number of large corporate accounting frauds, which led to the Sarbanes-Oxley Act of 2002. Previous regulations were efficient to a certain extent, but scandals still happened and more regulation seemed to always be needed. Even though the new SOX regulation seems powerful and efficient, I believe that there will always be a need for additional regulation in order to prevent future scandals. Securities Acts of 1933 and 1934 Summary of Regulation The stock market crash of 1929 resulted in the Securities Act of 1933. This act required that before a company an offer or sell securities in a public offering, they must register the securities with the Securities and Exchange Commission (SEC). The registration statement is used to notify the SEC that a sale of securities is pending and that the information needs to be disclosed to prospective buyers. This statement includes information about the issuer and its business, a description of the stock, the proposed use of the proceeds...
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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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...Restoring American Financial Stability Act of 2010 on March 15th 2010. This bill includes the revisions to the bill Dobb presented to the Senate in November of 2009. Some of the bill was improvements to The “Schumer Bill”, The Shareholder Bill of Rights, which was proposed by Senator Charles Schumer. Some things that The Shareholder Bill of Rights highlights is that the bill would put executive compensation into effect, shareholders will have the opportunity to reelect every single board member at the table, instilling independent directors to oversee each company's risk management practices are just some of the highlights. One of the differences is that the Dodd Bill leaves out things that should be left to state regulation rather than United States Regulation. The American Financial Stability Act of 2010 will create a new agency just for financial products and services, it will transform the derivatives markets that will make our economy come out of the crisis and more stable for the years to come. Some thought that the reason why Dodd released the bill when he did was to cause a debate with the Republicans in the Senate. Dodd, who is a Democrat, which caused many Republications, opposed the new bill. As of April 18, 2010, every single Republican is planning on filibuster the bill. This means that the Republicans are going to have to either redo the bill or open an amendment progress. Republicans also think that the bill will just encourage taxpayer bailout of big...
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...Assignment SEC 575 Vandit Patel Assignment SEC 575 Vandit Patel...
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...you’re working! A water cooler is a must in this situation because it’s going to be hot out and hydration is key to survival! There will also be no running on the job site. Hurry to quickly can cause more accidents than any amount of production you’re getting for running that thirty foot. Only work on the parts of the job that you know, if someone ask for help go ahead and give them a hand but if you’re a plumber then just let the electrician handle his own job. Back to PPE for a sec a back brace would be a good idea to wear also. Once you have a back injury it will be a problem for the rest of your life in most cases. In case of an emergency call 911 immediately, have someone notify the foreman and try to assist if you have any sort of training in first aid. If there is a fire move to the designated area away from all the equipment and other building, again call 911 and wait for help to arrive! If this where a regulated paper then I would include all of the state and government laws and regulations that apply to this job...
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...Chapter 3: The Regulation of financial accounting Why examine theories of regulation? Better placed to understand why some accounting prescriptions become part of legislation while others do not. Accounting standard – setting is a very political process While some proposed requirements may be technically sound and logical, they may not be mandated due to political ‘power’ or influence of some affected parties What is regulation? The Oxford Dictionary defines regulation in terms of a “prescribed rule” Macquarie Dictionary defined regulation as “a rule of order, as for conduct, prescribed by authority; a governing direction or law”. On the basis of these definitions can say that regulation is designed to control or govern conduct Hence, when we are discussing regulations relating to financial accounting, we are discussing rules that have been developed by an independent authoritative body that has been given the power to govern how we are to prepare financial statements, and the actions of the authoritative body will have the effect of restricting the accounting options that would otherwise be to an organisation. ‘Free Market’ perspective Accounting information should be treated like other goods, with demand and supply forces allowed to operate to generate an optimal supply. Arguments supporting ‘free – market’ perspective Private economic – based incentives ‘Market for managers’ ‘Market for corporate takeovers’ ‘Market for lemons’ Private economic – based...
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...many of the problems from growing out of control and threatening the stability of our financial system. Gaps and weaknesses in the management and regulation of financial firms presented challenges to our government’s ability to monitor, prevent, or address risks as they built up in the system, which caused the enormous bailouts or the massive financial collapses of financial institutions. The previous approaches to bank holding company regulation focused on protecting the subsidiary bank, not on the comprehensive regulation of the whole firm. In June, the President, proposed a new financial regulatory plan for the financial system. The new reform, as mentioned by the President, would protect consumers, impose new restraints on financial institutions and guard against the dismal practices that caused the market crisis. The new reform would generally be adopted by regulators since it mostly affects them. Timothy Geithner who is the secretary of the Treasury and Lawrence Summers who is the director of the National Economic Council wrote that “the goal is to create a more stable regulatory regime that is flexible and effective; that is able to secure the benefits of financial innovation while guarding the system against its own excess.” The proposed reform had five main objectives. They were: to promote strong supervision and regulation of financial firms, to establish a...
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...the purchase of assets and expansion. Looking at the long term investment decisions will help determine the productivity6 level, cost, and future cash flow. The plan is to expand the low-calorie frozen, microwavable food company which is currently facing increased cost for the major ingredients of the product. This paper will outline a plan that managers in this company could follow in anticipation of raising prices when selecting pricing strategies for making the products response to a change in price less elastic. Next, this paper will examine the major effects that government policies have on production and employment, predict the potential effects that government policies could have on the company, determine whether or not government regulation is needed to ensure fairness along with identifying the major reasons for government involvement in a market economy, provide two examples of government involvement, examine the major complexities that would arise under expansion via capital projects and propose key actions that the company could take in order to prevent or address these complications. Lastly, this paper will suggest the substantive manner in which the company could create a convergence between the interest of stockholders and managers and indicate the most likely impact to profitability of such a convergence. Outline a plan that managers in the low-calorie, frozen microwaveable food company could follow in anticipation of raising prices when selecting pricing strategies...
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...Legal Environment of Business II Chapter 19 Review Questions 19-1 Why did Congress create administrative agencies? The administrative agencies were created by Congress because they felt that the anticompetitive conduct of railroads and other corporations could best be controlled by separate administrative agencies with defined statutory mandates. Also during 1929 because of the stock market crash and the beginning of the Great Depression Congress felt the need of additional agencies to assist free-market economy and to act in the public interest, convenience, and necessity. 19-2 What are the two major functions of administrative agencies? The first function is rulemaking, where agencies are authorized to create new regulations by virtue of their enabling statutes; if they are not agencies, they need to follow the three ruled making models which are formal, informal, and hybrid outlined in the APA (Administrative Procedure Act). The Second Major Function is the Adjudication of individual cases brought before administrative law judges by agency staff, this function is done in individual cases as oppose to rulemaking for whole industries, and administrative agency usually pursues a four step process. 19-3 Explain the distinction between executive administrative agencies and Independent administrative agency is an agency which appointed heads and members serve for fix terms and cannot be removed by the president except for reasons defined by Congress. Executive...
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...Volcker Comment Letters Title VII Complexity Graph Tasks for Swap Dealers and Major Swap Participants Regulator Meetings with Outside Participants Over Time Dodd-Frank Rulemaking Progress by Agency Title VII Progress on Required Rulemakings Dodd-Frank Rulemaking Progress on Passed Deadlines Dodd-Frank Rulemaking Progress in Select Categories Dodd-Frank Rulemaking Progress by Due Date Dodd-Frank Statutory Deadlines for Required Rulemakings Dodd-Frank Study Progress by Due Date Dodd-Frank Statutory Deadlines for Required Studies 4 5 6 7 8 9 10 11 12 13 14 15 16 3 Infographic: Dodd-Frank at the Two-Year Mark The two years since Dodd-Frank’s passage have seen 848 pages of statutory text expand to 8,843 pages of regulations. Already at almost a 1:10 page ratio, this staggering number represents only 30% of required rulemaking contained within Dodd-Frank, affecting every area of the financial markets and involving over a dozen Federal agencies. In this...
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