Passed in 2002, the SOX requires publicly traded companies to submit accurate and reliable financial reporting. This law does not require securing private information, but it does require security controls to protect the confidentiality and integrity of the reporting itself. Gramm-Leach-Bliley Act (GLBA) – Passed in 1999, the GLBA requires all types of financial institutions to protect customers’ private financial information. Health Insurance Portability and Accountability Act (HIPAA) – Passed in 1996
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principles (like the OECD Code), and the rule-based approach, where the duties and responsibilities are detailed out (perhaps like the Sarbanes-Oxley Act of United States). * Organization for Economic Co-operation and Development (OECD)-promote policies that will improve the economic and social well-being of people around the world. OECD provides a forum in which governments can work together to share experiences and seek solutions to common problems. We work with governments to understand what
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important of our industries. Most adult Americans deal with banks, often on a fairly regular basis. Nonetheless, banks and banking seem rather mysterious. What do banks do? Why have they for so long been an integral part of our economy? Why, as in the financial crisis that commenced in 2007, do banks every so often get into trouble and create serious problems for the country? Banks have two important economic functions. First, they operate a payments system, and a modern economy cannot function well without
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throughout all forms of institutions. It is estimated that approximately fifty percent of students leave higher education without being in receipt of an earned degree (Anderson, 1997). Education has an effect on both the individual and society as attaining educational credentials provides the individual with greater job security. As funding for higher education continues to decline, institutions of higher education must maintain students in order to prevent financial struggles. In order
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Contents Problems with AIG and Credit Default Swaps 1 Financial Crisis 1 Why study AIG case 1 Define what a CDS is and history of AIG 2 AIG background 2 What are Credit default swaps? 3 What happened at AIG? 5 Why is the AIG case so special? 7 Government Reactions 8 Expert Opinion 10 Causes, How it can be Solved, Possible Ways it Can be Prevented 11 Works Cited 14 “Financial derivative products were financial weapons of mass destruction, carrying dangers that, while
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glitz and glamour, though a startling truth was starting to emerge. The economic growth of the past decade was partially a façade created by an abundance of newly printed money. (Scaliger). Inexperience combined with arrogance had led members of the Federal Reserve to drop interest rates to all time lows (Scaliger). This led to a frenzy of financing and “easy credit” and artificially increased measures of economic growth as well as unparalleled growth of stocks. During the 1920s, many stocks rose to
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Abstract This study compares Islamic banking operations currently practiced in Pakistan and Malaysia. Both countries started Islamic banking in early 1980’s but employed entirely different approaches. Pakistan attempted to convert the entire financial system in accordance with Islamic law at once at national level. Malaysia adopted the gradual application approach. It allowed Islamic and conventional banking systems to operate and to compete for deposits on parallel basis. This study examines
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FIN 331 Financial Institutions and Markets FINAL TERM PROJECT Spring Quarter Group 5 Shad Boots Alejandro Carral Antonio Fernandez Johnny Pham June 11, 2014 CALIFORNIA STATE UNIVERSITY OF LOS ANGELES CONTENTS Introduction ...................................................................................................................................................................2 Financial Markets .......................................................................
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paper explores issues in emerging market countries to make inflation targeting work for them. It starts by outlining why emerging market economies are so different from advanced economies and then discuss why developing strong fiscal, financial and monetary institutions is so critical to the success of inflation targeting in emerging market countries. Then it discusses two emerging market countries which illustrate what it takes to make inflation targeting work well, Chile and Brazil. It then addresses
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Software License Agreement for Quicken Software and Services Thank you for selecting Quicken software. This Software License Agreement (the “Agreement”) gives you certain rights and responsibilities depending on the software product license you purchased as more fully described below (“Software”). Before using the Software, you must read and accept the terms and conditions contained in this Agreement. If you do not accept this Agreement, you will not be able to use the Software. If you are not
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