Code of Ethics and Standards of Professional Conduct CHARTERED INSTITUTE OF STOCKBROKERS Chartered By Act 105 of 1992 May 13‚ 2010 Code of Ethics and Standards of Professional Conduct for Stockbrokers These CIS Code of Ethics and Standards of Professional Conduct for Stockbrokers have been prepared by the Chartered Institute of Stockbrokers (CIS). CIS Code of Ethics and Standards of Professional Conduct shall apply‚ in its entirety‚ to all members except where a member is practising outside Nigeria
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❖ S 9: “Officer” includes directors‚ secretaries‚ receivers‚ administrators‚ liquidators‚ administrating trustees. ❖ S 9: “Director” includes shadow & de facto directors. enforcement of directors’ duties enforcement of statutory duties Civil penalties Who may apply for a Declaration or Order? ❖ S 1317J(1): ASIC may apply for a declaration of contravention‚ a pecuniary penalty order or a compensation order. ❖ S 1317J(2): The company may apply for a compensation order. ❖
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Summary The flexibility in accounting allows companies to adopt creative accounting and fraud techniques to bolster profits. Such techniques has seriously eroded the currency of accounting so as to hinder the development of economy. This essay introduces various parties involved in creative accounting and illustrates how they are being affected. After that‚ another cause induced by the economic environment will also be listed following by recommendations on reducing the likelihood of creative accounting
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Why is Marriott ’s CFO proposing Project Chariot? 2. Is the proposed restructuring consistent with management ’s responsibility? 3. The case describes two conceptions of managers ’ fiduciary duty (p. 9). Which do you favor: the shareholder conception or the corporate conception? Does your stance make a difference in this case? 4. Should Mr. Marriott recommend the proposed restructuring to the board? Marriott Corporation (A) 1. Why is Marriott ’s chief financial officer proposing Project Chariot
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Introduction In the beginning years of the new century a series of huge corporate frauds predominated the business sections and front pages of dominant newspapers‚ shaking public confidence in the integrity of corporate America. Those scandals also raise serious questions about the integrity‚ acuity and prudence of business leaders and accountants who structure and document business transactions‚ approve required financial disclosures‚ and‚ in the case of accountants‚ certify the accuracy of required
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com/what-is-a-majority-shareholder.htm 4. Majority Shareholder.(n.d.).Retrieved March 3‚ 2011 from http://www.answers.com/topic/majority-shareholder#ixzz1GPM9cC6j 5. Robert‚ C. (April 1‚ 2003). Shareholder rights and remedies in close corporations: Oppression‚ fiduciary duties‚ and reasonable expectations (Paragraph-1).Published by Journal of Corporation Law. Retrieved March 3‚ 2011 from http://www.allbusiness.com/legal/laws/1058708-1.html 6. Benjamin‚ M. (October 15‚ 2008). A Voice-Based Framework for Evaluating
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PART A (a) Promoters & Pre-registration contract A promoter is a person who is involved‚ actively or passively‚ in forming a company‚ raising its capital and establishing its business at any period prior to the company obtaining a certificate of complete registration: Twycross v Grant.[1] Part 2B.3 of Corporations Act 2001 (Cth) purports to overcome the common law difficulties of earlier cases based on the law of agency[2] and provides an exclusive set of rules to determine primary and secondary
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the stock issuance. The board met to discuss the purchase‚ and even after discovering Abdo’s involvement with BFC‚ still approved the transaction. Aoki filed the action against the Benihana directors arguing that the directors had breached their fiduciary duties by allowing Abdo to negotiate the deal from both sides‚ and Benihana was not allowed to issue the stock with preemptive rights that would be self dealing which was a breach of the duty of loyalty. Aoki also filed suit against BFC‚ claiming
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which stakeholders can currently be considered to be part of the “the company” for the purpose of the director’s duty to act in the best interests of the corporation? Company is a form of corporation and regulated by the Corporations Act. The legal significance of being as a company is it exists as a separate legal entity and dependent upon human beings to make decisions on their behalf. The person who makes or participates in making decisions that affect the whole or a substantial part of the
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What allegations did Bruce Lien assert his complaint in the civil action that he brought against the corporation and the other members of the board of directors in April 2000? Bruce Lien alleged minority shareholder oppression‚ breach of fiduciary duty and tortuous interference with prospective business relations or expectancy. G. Under what South Dakota statute did the trial court find that there was a shareholder deadlock in failing to elect directors? (example: (SDCL __-__-__)
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