JPMorgan Chase
In the summer of 2012, JPMorgan Chase, the biggest U.S. bank, announced trading losses from investment decisions made by its Chief Investment Office (CIO) of $5.8 billion. The Securities and Exchange Commission (SEC) was provided falsified first quarter reports that concealed this massive loss.
Use the Internet research a different bank of your choosing.
Write a three to four (3-4) page paper in which you:
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.
6. Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources.
Your assignment must follow these formatting requirements:
· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA format.
· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
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Research a different bank of your choosing
The use of the banks is to hold money. They also enable investors to increase their investment. An example of a bank is the Forex Bank. The bank lost more than $1 billion dollars. This was as a result of trading in the financial derivatives that resulted to the loss in dollars amount mentioned above (North & Caes, 2012).
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
The focus is on the economy of United States. The growing economy need to be protected from market failures. Market failures include high risk gambles in the securities and banking sectors of the economy. The mission and vision of the United States…
APA
1054 words
