Fraud Case Of Jpmorgan Chase
JPMorgan Chase
Leg 100
26th of August, 2013
JPMorgan Chase & Co. is the largest bank in the United States. In the world it ranks the second largest with a total of $2.509 trillion assets. This ultimately makes JPMorgan Chase one of the most trusted banks in America. However, JPMorgan Chase announced a major trading loss of $5.8 billion in 2012. Consequently, administrative agencies like the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) should take action in order to prevent high-risk gambles in securities, banking, a foundation of the economy.
The mission of the U.S. Securities and Exchange Commission is to protect stockholders and preserve fair market trade. The SEC takes an expressive …show more content…
Its objectives consist of promoting viable and effective future markets and protecting investors against abusive trade practices and fraud. Both these agencies play a role in inspecting the trade losses in the case of JPMorgan Chase. While SEC is entitled to investigate the suitability and entirety of JPMorgan Chase financial, Chairman Mary Schapiro states that this agency 's investigation is limited. Unfortunate to this case, the faulty trade happened in divisions of the banking that aren 't subject to SEC regulation.
To create a valid contract, there must be a lawful offer by one party and lawful acceptance of the same by another party. Lawful Consideration is the compensation element given by the party contracting to another. The parties to an agreement must be competent and if either of the parties doesn’t have the aptitude to contract, the contract is not valid. There must also be free consent. This means the parties must agree upon the same topic/issue in the same sense. In a banking context such as JPMorgan, this means that the bank could call a loan, refuse funding’s, loans, and setting off …show more content…
Intentional torts are resolute acts that do harm to another and negligence is “failing to act to rectify a problem that can cause harm to an individual(s)”. Thus, for a claim to be qualified as a negligent act certain components have to be stated as proof. Including acts like assault, battery, defamation, intentional infliction of physical or emotional distress and even false imprisonment. Negligent tort actions hold citizens accountable for their careless action. The difference between both is found in how an intentional tort falls into a category of torts that requires the defendant having possessed the intent to do the act that caused the plaintiffs
Leg 100
26th of August, 2013
JPMorgan Chase & Co. is the largest bank in the United States. In the world it ranks the second largest with a total of $2.509 trillion assets. This ultimately makes JPMorgan Chase one of the most trusted banks in America. However, JPMorgan Chase announced a major trading loss of $5.8 billion in 2012. Consequently, administrative agencies like the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) should take action in order to prevent high-risk gambles in securities, banking, a foundation of the economy.
The mission of the U.S. Securities and Exchange Commission is to protect stockholders and preserve fair market trade. The SEC takes an expressive …show more content…
Its objectives consist of promoting viable and effective future markets and protecting investors against abusive trade practices and fraud. Both these agencies play a role in inspecting the trade losses in the case of JPMorgan Chase. While SEC is entitled to investigate the suitability and entirety of JPMorgan Chase financial, Chairman Mary Schapiro states that this agency 's investigation is limited. Unfortunate to this case, the faulty trade happened in divisions of the banking that aren 't subject to SEC regulation.
To create a valid contract, there must be a lawful offer by one party and lawful acceptance of the same by another party. Lawful Consideration is the compensation element given by the party contracting to another. The parties to an agreement must be competent and if either of the parties doesn’t have the aptitude to contract, the contract is not valid. There must also be free consent. This means the parties must agree upon the same topic/issue in the same sense. In a banking context such as JPMorgan, this means that the bank could call a loan, refuse funding’s, loans, and setting off …show more content…
Intentional torts are resolute acts that do harm to another and negligence is “failing to act to rectify a problem that can cause harm to an individual(s)”. Thus, for a claim to be qualified as a negligent act certain components have to be stated as proof. Including acts like assault, battery, defamation, intentional infliction of physical or emotional distress and even false imprisonment. Negligent tort actions hold citizens accountable for their careless action. The difference between both is found in how an intentional tort falls into a category of torts that requires the defendant having possessed the intent to do the act that caused the plaintiffs