1.Discuss how administrative agencies like the Securities and Exchange Commission (SEC) or the Commodities Futures Trading Commission (CFTC) take action in order to be effective in preventing high-risk gambles in securities / banking, a foundation of the economy.
2. Determine the elements of a valid contract, and discuss how consumers and banks each have a duty of good faith and fair dealing in the banking relationship.
3. Compare and contrast the differences between intentional and negligent tort actions
4. Discuss the tort action of “Interference with Contractual Relations and Participating in a Breach of Fiduciary duty” and, if the bank you’ve chosen were to behave as JP Morgan did, would you be able to prevail in such a tort action.
5. With the advent of mobile banking, discuss how banks have protected the software that allows for online transaction to occur through automation.
1. The Securities and Exchange Commission (SEC) functions as a sort of watchdog over Wall Street, responsible for protecting investors, maintaining fair, orderly and efficient markets, and facilitating capital formation. The SEC does this by requiring public companies to disclose “meaningful financial and other information to the public,” so that investors can make informed decisions about whether to buy, sell or hold a particular security. The SEC oversees the key participants in the securities world, including securities exchanges, securities brokers and dealers, investment advisers, and mutual funds. The commission also brings civil enforcement actions against individuals and companies for violating the securities laws, including insider trading, accounting fraud, and providing false or misleading information about securities and companies issuing securities. Two acts enforced by the SEC that directly involve the banking and security industries are Securities Act of 1933 and 1934. Often referred to as the
References: Bagley, (2013) Managers and the Legal Environment https://www.bankofamerica.com/privacy/online-mobile-banking-privacy/online-banking-security.go http://tort.laws.com/negligence-standard-of-conduct/negligence-tort http://wps.prenhall.com/ca_ph_blair_law_1/6/1550/396913.cw/index.html http://www.allgov.com/departments/independent-agencies/securities-and-exchange-commission-sec?agencyid=7357 http://www.sec.gov/about/laws.shtml http://www.smallbusiness.wa.gov.au/four-essential-elements-of-a-contract/#top