Business case or incident in which a financial or consumer breach/crime occurred

 

 

The financial industry is highly regulated. Banks, lending institutions, and financial investment firms or advisors must adhere to stringent legal requirements to transact business. All these requirements are intended to protect the customers or investors from fraudulent schemes and provide them with all the relevant information to be able to make informed decisions.

Two of the main laws that still regulate securities are the Securities Act of 1933 and the Securities Exchange Act of 1934.

The Securities Act of 1933 is often referred to as the “truth in securities” law, and it has two basic objectives:

require that investors receive financial and other significant information concerning securities being offered for public sale; and
prohibit deceit, misrepresentations, and other fraud in the sale of securities.
The Securities Exchange Act of 1934 allowed Congress to create the Securities and Exchange Commission. The Act empowers the SEC with broad authority over all aspects of the securities industry. This includes the power to register, regulate, and oversee brokerage firms, transfer agents, and clearing agencies as well as the nation’s securities self-regulatory organizations (SROs). The Act also identifies and prohibits certain types of conduct in the markets and provides the Commission with disciplinary powers over regulated entities and persons associated with them. It also empowers the SEC to require periodic reporting of information by companies with publicly traded securities.

There have been enhancements to these Act that have been enacted since then Trust Indenture Act of 1939 or Investment Company Act and Invest Advisor Act, both enacted in 1940.

In addition to the regulation of the financial side of the business, there is heightened regulation relating to consumer privacy. Consumer privacy involves the handling and protection of the sensitive personal information provided by customers during everyday transactions. The internet has evolved into a medium of commerce, making consumer data privacy a growing concern.

This form of information privacy surrounds the privacy and protection of a consumers personal data when collected by businesses. Businesses must implement standards for consumer privacy to conform to local laws and to increase consumer trust, as many consumers care about the privacy of their personal information.

Some of the more common concerns in reason years would include the Do Not Call list, access to medical information, opt out options for personal information to be sold to business partners, and breaches in technology. Regulations enacted in recent years attempt to address these issues and many more facing consumers.

Watch these short videos for an introduction to financial and consumer regulations.

Financial Regulations

 

Consumer Regulations and Community Development

 

Research a recent business case or incident in which a financial or consumer breach/crime occurred; you might look on the Internet or daily news. You might even find a case on the television news! Please be sure to cite your source in APA format.

In your original post, answer the following:

Describe the financial or consumer breach/crime that occurred.
Confirm and explain the breach/crime that was committed.
What could the company have done to minimize their exposure to such a crime?
Confirm the outcome of the case.
If the case has not been decided, tell us what you think will happen and why.
What sort of punishment or compensation is there or should there be?

 

QUALITY: 100% ORIGINAL – NO PLAGIARISM

(USA, AUS, UK & CA PhD. Writers)

CLICK HERE TO GET A PROFESSIONAL WRITER TO WORK ON THIS PAPER AND OTHER SIMILAR PAPERS

The Best Custom Essay Writing Service

About Our Service

We are an online academic writing company that connects talented freelance writers with students in need of their services. Unlike other writing companies, our team is made up of native English speakers from countries such as the USA, UK, Canada, Australia, Ireland, and New Zealand.

Qualified Writers

  • At ClassicWritersBay.com, most of our writers are degree-holding native speakers of English who are familiar with various writing styles. Our writers are proficient in many fields, including Economics, Business, Accounting, Finance, Medicine, Chemistry, Literature, Mathematics, Statistics, and many others.
  • Making our customers happy is an important part of our service. So do not be surprised if you get your paper well before the deadline!
  • We pay a lot of attention to ensuring that you get excellent customer service. You can contact our Customer Support Representatives 24/7. When you order from us, you can even track the progress of your paper as it is being written!
  • We are attentive to the needs of our customers. Therefore, we follow all your instructions carefully so that you can get the best paper possible.
  • It matters to us who writes for you, and we are serious about selecting the best candidates.
  • Our writers are always learning something new, so they are familiar with the latest developments in the scientific world and can write papers with updated information and the latest findings.

Our Guarantees:

  • Quality original papers that follow your instructions carefully.
  • On time delivery – you get the paper before the specified deadline.
  • Attentive Customer Support Representatives available 24/7.
  • Complete confidentiality – we do not share you details or papers with anybody else.
CLICK TO SUBMIT YOUR ORDER