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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.
Securities and Exchange Commission ha s the role of looking after United States investors against possible loss of profits. This is by keeping a reasonable and organized practice that promotes resources markets. The commission necessitates businesses to reveal important information regarding securities that they put up for sale in order for investors to make well-versed decisions. Securities and Exchange Commission forbids purchases of stock without enough finances to pay for them. The commission controls registration and supervision of the securities markets and agents. The commission makes up rules and regulations for solicitation of alternatives. It also provides advice to courts in economic failure matters (Chatain, 2009).

Proper management is the only way that can assist in avoiding threats and gambling matters. All organizations need to posses tools that will help in assessment of threats posed because of activities that take place in that organization. In order for an organization to become successful, activities about information on security issues need to be clear.

Securities and Exchange Commission has the role of enforcing major economic rules that control the economic industry. They include, the securities act which aims at achieving two main goals. The first one is the provision of economic information and any other information about financial goods to the shareholders. The other goal of the securities act is making it illegal to cover up, disfigure and other ways of fraud in the transactions that involve financial goods such as stocks, and bonds.

There is also the Securities Exchange Act gives the Securities and Exchange Commission the mandate over the economic industry in matters that of control and supervision. This act allows specific conduct in the market and gives the Securities and Exchange Commission the authority powers to the individuals and people linked to it. The act does also provide the right to timely reporting by organizations in matters of public interest.

Investment company act controls the administration of companies that do invest in the fairly and have their transactions revealed to the public. This act requires investment goals, organization and activities, target investors of a company revealed.

Another law that applies to the Securities and Exchange Commission is investment adviser act. It controls the line of work of the investment consultants.

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.
One of the elements of a contract is offer and acceptance. This means that it requires both parties of the contract to agree on the terms. There is usually a legal offer by one party and the other party has to accept the contract legally by signing the contract.
Another element is consent that involves agreeing to the contact ones will without being forced. Understanding of what is required about the contract is another necessity of what each of the parties is required to do. There are issues that can affect consent including mistake, false declarations, threats and unwarranted influence.

There is the aim of creating legally binding agreements so that there is evidence to show that there was an agreement between the two parties involved in the contract. There is also an element of legal ability by both parties to be able to continue with the contract. The following people need not to consider in any sort of a contract. These are the youth, mentally ill people, people who are representing a particular company, those who are bankrupt and prisoners. Consideration is another element of a contract that involves the fee required in a particular contract by a given party.

Each contract has a duty of good faith and fair dealing inflicted in every party to assist in presentation and implementation. They both require that no party that should be removed from getting the benefits of the contract. The main aim of good faith is need for honesty and performance of realistic commercial standards of fair dealing do business.

The convention of good faith and fair dealing when the loan documents give the borrower a distinction, the lender has to show sensible distinction and not randomly and impulsively. Failure of good faith to be recognized if the borrower of a loan acts in a way that is recognized by the loan credentials and when the situations show the borrower’s deeds and the means, in which such actions are obtained.

The responsibility of good faith and fair dealing is usually the fiduciary role obligation involving all those who are in a special association with the contract in the case of the bank. This is usually the responsibility of one party to a different one.

The range and application of good faith and fair dealing stay vague and distinct. The most significant progress about the duty of the good faith and fair dealing is in the implementation of the Uniform Commercial Code and the distribution of the Restatement of the agreements.

Compare and contrast the differences between intentional and negligent tort actions

Both the intentional and negligent tort is reimbursed easily. One can bring a reason of action for both intentional torts and negligent torts.

Intentional tort is under the group of tort that needs defendant to have acquired the aim to carry out the act that caused the applicants damages unlike negligent tort.

Negligent torts do not need intent as in the case of intentional torts.

Intentional torts take place when the defendant targets at causing damage to the applicant while negligent tort are assigned with an aim but are done when someone does not succeed in using a realistic concern and causes damage to another person.

Insurance companies do exclude coverage in the intentional tort claim rules for their destructions, the only policies covered by intentional torts are trademark violation, unjust competition, copyright violation, false custody, employment unfairness, and mistaken termination unlike negligent tort claims which do have insurances that one can gather damages.

Discuss the tort action of “Interference with Contractual Relations and Participating in a Breach of Fiduciary duty” and, if the bank you have chosen were to behave as JP Morgan did, would you be able to prevail in such a tort action.
The law that applies in the interference of contractual relation is limitation of someone will not go further than in matters regarding to the business interaction of the other person. This is erroneous because there is infringement of rights of the parties in satisfying the needs of the contract and making sure needs of the contract are satisfied. The interference imposes all those involved in the responsibility of meeting the requirements of the agreement so that it can be a legal contract commitment.
Breach of fiduciary of duty is a trade tort that takes place when there is a situation at which there is confidence between a person and the association. This is act of one party in the concern party of another party.
It is any corporate director, officer or employees who are of high rank make use of the assets of a company or prospects for their own use then they cause infringement of the fiduciary responsibility. Breach of fiduciary responsibility does not need to have an evidence of illegal intention. It is not easy to show up evidence on an illegal intention in a court of law.
Fiduciary normally has a responsibility of taking actions for the concern of the recipient in regards to the issues that are within the range of the fiduciary association.
With the advent of mobile banking, how banks have protected the software that allows online transaction to occur through automation.
Banks protects all the information that a person might have provided to the bank by coming up with security regulations and procedures which will keep the monetary information of a person secure and not to be disclosed. Some of the ways that banks use in protecting someone account information from disclosure are encryption, use of firewalls, limiting time used to log in into a certain account through internet use. There is also use of anti-virus software to protect the accounts from virus and use of a well-protected login procedure (Fitch, 2006).
One of the ways of keeping online banking safe is by use of Bit defender mobile security that is anti-virus software for Android. It protects people from threats that are cause by internet by use of security traits like malware checker, application scrutinizer, security assessment and website protection.
Banks usually discourage use of mobile banking whilst attached to a wireless internet link because these connections normally create a high risk of data robbery. It is encouraged to use devices that do have local data link for instance, a wireless system that someone can access at any place without any inconveniences.
People are encouraged not to share passwords of their bank accounts with any person. After of use of a bank account online, a person is required to log off immediately to avoid disclosure of the bank information to anyone who might peep into your account.

References

Chatain, P.-L. (2009). Preventing money laundering and terrorist financing: A practical guide for bank supervisors. Washington DC: World Bank.

Fitch, T. P. (2006). Dictionary of banking terms. Hauppauge, NY: Barron's.

Schneider, S. (2008). The Everything Guide to Being a Paralegal: Winning Secrets to a Successful Career!. Avon: Adams Media.

Securities and Exchange commission. (2000). SEC: What it is and what it does. Garki, Abuja: Securities and Exchange commission.

Shelly, G. B., Cashman, T. J., & Vermaat, M. (2010). Introduction to computers. Mason, Ohio: South-Western.

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