...interoffice memorandum to: Tyson Gay, MAnager from: Chandler Blakely subject: current sec investigation date: [ 8/6/2012 ] cc: Mark Durand, facilatator Current SEC Investigation This memo has been written in order for the company to discuss the current U.S. Securities and Exchange Commission’s (SEC) investigation into University of Phoenix Accounting Firm accounting practices. It is highly important that during this investigation that the company know everything it is required to do from a legal aspect as well as know the best route to take in dealing with the public opinion of such an investigation. The company must also prepare to deal with arising issues that may occur with external stakeholders while keeping our reputation as a top accounting firm. From a legal aspect the law and the SEC requires that we take certain action ensure fair trading amongst the public, these requirements include but are not limited to the following: * Any information that may affect or stock market price be released immediately * Any information reported is accurate and will not mislead investors * Any information will be widely disseminated We should be fast and efficient in all these necessary actions to prevent legal ramifications. Also the company has to show the public we or fully cooperative with the ongoing investigation and we have nothing to hide. Public communication in this situation is vital to our company. We have to communicate a genuine belief in......
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...In today’s society where there seems to be an increase in attention toward unethical behavior organizations must adhere to the laws set forth by the SEC. It is now more critical than every that organizations establish policies and processes to ensure that it is complying with the rules and regulations put in place by the Securities and Exchange Commission. Barnes and Noble Inc., meet’s the SEC’s reporting requirements through the use of technology, internal disclosure controls, internal controls over financial reporting, and independent accounting auditors who verify that these controls are in place and working as intended. The SEC requires that Barnes & Noble posts all Interactive Data Files required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months. After studying the proxy statement for Barnes & Noble, Inc., the filings show that historical SEC filings are listed by category for a variety of required reports, including forms 8-K, 10-Q, 10-K, and proxy statements. Barnes & Noble requires that SEC filings are signed by a senior management member like. In Barnes & Nobles case the 8-k SEC filing was signed by the Chief Financial Officer. This helps ensure that the filings are correct, comply with SEC reporting requirements, and are properly communicate to stakeholders in the management of Barnes & Noble, Inc. The organization uses internal auditing committee called the “Audit Committee “. The Audit Committee reviews the company’s......
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...------------------------------------------------- About SEC The Securities and Exchange Commission (SEC) was established on 8th June, 1993 under the Securities and Exchange Commission Act, 1993. The Chairman and Members of the Commission are appointed by the government and have overall responsibility to formulate securities legislation and administer as well. The Commission is a statutory body and attached to the Ministry of Finance. Mission of the SEC is to: * Protect the interests of securities investors. * Develop and maintain fair, transparent and efficient securities markets. * Ensure proper issuance of securities and compliance with securities laws. The Commission's main functions are: * Regulating the business of the Stock Exchanges or any other securities market. * Registering and regulating the business of stock-brokers, sub-brokers, share transfer agents, merchant bankers and managers of issues, trustee of trust deeds, registrar of an issue, underwriters, portfolio managers, investment advisers and other intermediaries in the securities market * Registering, monitoring and regulating of collective investment scheme including all forms of mutual funds. * Monitoring and regulating all authorized self-regulatory organizations in the securities market. * Prohibiting fraudulent and unfair trade practices relating to securities trading in any securities market. * Promoting investors’ education and providing training for......
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...Perimeter Security Applications Robinson Paulino DeVry College of New York Sec- 330 Professor: Gerard Beatty Perimeter Security Applications Outline Introduction 2 Intruder Detection Accuracy 3 Security Cameras 4 1. Using Size Filters for Video Analytics Accuracy 4 2. Geo-Registration and Perimeter Security Detection Accuracy 5 3. Clarity against a moving background 5 Perimeter Security Best Practices 6 Auto Tracking PTZ Camera 6 Long Range Thermal Camera 6 Covering Perimeter Camera Blind Spots 7 Determine a Perimeter Camera’s Range 7 Perimeter Fence . 8 Chain-Link Fences Protection 8 Electric and Infrared Fences 8 Fiber Optic Intrusion Detection Systems 9 In-Ground Intrusion Detection Systems 10 References 11 Perimeter Security Applications Introduction Physical security is the protection offered for property, these may be buildings or any other form of asset, against intruders (Arata, 2006). . The idea therefore, is to keep off unwanted persons or objects from ones premises. One’s premise is defined by a boundary which separates private property from the rest of the land. This boundary is referred to as the perimeter. The perimeter could be physical or logical. Physical security is intended to keep intruders from land and grounds around such property. Logical perimeters on the other hand, are for protection against computer sabotage or any other remote malicious activities (Fennelly, 2012). In a nutshell, perimeter security...
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...Activities of SEC regarding secondary market: Mutual Fund: Bangladesh security and exchange commission is concern about activities of Mutual fund. According to the Securities and Exchange Commission (Mutual Fund) Rules, 2001 SEC can registers mutual fund. Later on 16 March 2009 SCE established Mutual Fund and SPV department. At present one mutual fund is listed in the private sector. There are two types of mutual funds 1. Open- Ended Mutual fund 2. Closed-Ended Mutual Fund The list of mutual funds in Bangladesh is given below Closed end mutual fund SL Name of the Mutual Fund Year of Floatation Face Value Fund Size (TK in Crore) 01 1st ICB 1980 100 Tk 0.75 02 2nd ICB 1984 100 Tk 0.50 03 3rd ICB 1985 100 Tk 1.00 04 4th ICB 1986 100 Tk 1.00 05 5th ICB 1987 100 Tk 1.50 06 6th ICB 1988 100 Tk 5.00 07 7th ICB 1995 100 Tk 3.00 08 8th ICB 1996 100 Tk 5.00 09 1st BSRS 1997 100 Tk 5.00 10 ICB AMCL 1st 2003 100 Tk 10.00 11 ICB AMCL Islamic 2005 100 Tk 10.00 12 ICB AMCL 1st NRB 2007 100 Tk 10.00 SL Name of the Mutual Fund Year of Floatation Face Value Fund Size (TK in Crore) 13 ICB AMCL 2nd NRB 2008 100 Tk 100.00 14 AIMS 1st Guaranteed 2000 1 Tk 16.80 15 Grameen Mutual Fund One 2005 10 Tk 17.00 16 Grameen Mutual Fund Two 2008 10 Tk 125.00 17 Prime Finance 1st 2009 10 Tk 20.00 18 EBL 1st 2009 10 Tk 100.00 19 ICB AMCL 2nd 2009 100 Tk 50.00 20 ICB Employees Mutual Fund One:Scheme One 2010 10 TK.75.00 21 Trust......
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...Physical Security SEC/410 August 12, 2013 Physical Security It is important for all organizations to have physical security. Physical security protects the organization in every way. Every individual needs to be aware of the importance of physical security. Not only is important for the individual to be aware of the importance physical security has in an organization but to be able to understand how physical security works within the organization. In this paper the writer will be describing the core concepts of physical security. Additionally the writer would be writing about the security assessments. Last the writing would be writing about the basic physical controls. The physical security is when security involves themselves in detection and the prevention of any unauthorized intrusion. The main idea of physical security is to protect every individual and organization at all times. Physical security needs to protect the organization from any threats. Some of the threats an organization could have is man-made threat, natural made threats and also terrorist threats. Physical security needs to be well train in any situation; in case of the fires the security needs to know each and every step he or she needs to done in others to protect the organization and the individual within the organization. Also in case of a intruder physical security knows how to handle it the right way and fast before he or she can’t commit any harm to the organization or the individual. It...
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...For several years, the SEC has been considering the option to adopt IFRS for all U.S. Issuers as a means to have central reporting standards for U.S. to International Company offerings. While the FASB and IASB work on key projects such as revenue recognition, leasing standards, and financial instruments, the SEC continues to analyze this progress and weigh the benefits and concerns with adopting IFRS for U.S. companies. This paper will focus on the concerns of SEC in fully implementing IFRS, what steps some companies are taking to prepare for the adjustment to IFRS, and the outlook of the possibility of a convergence to IFRS in the future. Two major concerns for the SEC in adopting IFRS are the costliness for U.S. companies along with the timeliness of the process. Some of the costs include funding the IASB, maintenance of IFRS, application and enforcement, and tax implications. Meanwhile, companies are preparing for a convergence with IFRS in advance because of some of the complex changes and significant impact to financial reporting for revenue recognition and leasing standards. Also, some companies, such as Ford Motor Company, are adopting IFRS before an official convergence to save time and money. While some standards would be easy to converge with IFRS, others would require many companies to change accounting systems, controls, and procedures, costing companies time and significant costs. Although no official decision has been made on the convergence of U.S...
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...Exchange Commission Laws: Securities and Exchange Ordinance 1969;[2] and the Securities and Exchange Commission Act 1993. Bangladesh’s securities market dates back to the Pre-Independence era. It has, however, yet to make any remarkable progress. Lack of proper regulatory role of the Securities and Exchange Commission, there are some amount of erosion of confidence amongst the investing people. The SEO provides for a number of rules relating to the dealing in securities fairly, including rules relating to issue of capital,[3] public issues,[4] and so on, in order to increase the confidence of the public in the market.[5] E.g., the Ordinance provides for the disclosure of certain compulsory information (price sensitive).A bye-law [The SEC (prohibition of Insider Trading) Rules 1995][6] prohibits insider trading: penal[7] and civil consequences are there: see. Article 5 of this Regulation. According to this and others laws, companies need to disclose price-sensitive information to the public,[8] in order that no insider trading takes place. Yet, insider trading is a major factor ailing the Bangladeshi companies. Citing Sobhan and Werner who wrote in 2003, Kutubi writes:[9] There are several examples of directors themselves being engaged actively in underhand dealings and insider trading for personals gains in both corporate and banking sectors in Bangladesh. Also, s. 14 of the Ordinance provides that if a any director or officer of an issuer of a listed......
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...lent such amount partially in the form of money and partially in the form of stock certificates numbered 3204 and 3205, each for 400 shares with a par value of P10.00 per share, or for P4,000.00 each, for a total of P8,000.00. Said stock certificates were in the name of private respondent Adalia F. Robes and Carlos F. Robes, who subsequently, however, endorsed his shares in favor of Adalia F. Robes. Said certificates of stock bear the following terms and conditions: "The Preferred Stock shall have the following rights, preferences, qualifications and limitations, to wit: 1. Of the right to receive a quarterly dividend of One Per Centum (1%), cumulative and participating. xxx 2. That such preferred shares may be redeemed, by the system of drawing lots, at any time after two (2) years from the date of issue at the option of the Corporation. x x x." On January 31, 1979, private respondents proceeded against petitioner and filed a Complaint anchored on private respondents' alleged rights to collect dividends under the preferred shares in question and to have petitioner redeem the same under the terms and conditions of the stock certificates. Private respondents attached to their complaint, a letter-demand dated January 5, 1979 which, significantly, was not formally offered in evidence. Petitioner filed a Motion to Dismiss private respondents' Complaint on the following grounds: (1) that the trial court had no jurisdiction over the subject-matter of the action; (2) that...
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...terms and concepts related to Security Exchange Commission. METHODS: This assignment has been prepared on the basis of experience gathered during the period of FIN 335 course. For preparing this assignment, we have also got information from various websites and Security Exchange office at Motijheel ‘ Jibon Bima Bhaban ‘which may provide successful results considering this report. 1.3 LIMITATIONS ✓ Some websites had no direct reference. ✓ Unable to collect enough information from due to their official restrictions. ✓ Data collection process was irregular. ✓ Due to other courses and exams, we did not get enough time to give 100% time. ✓ Due to excess load shedding, it was difficult to work. Background SEC was established on 8 June, 1993 under the Securities and Exchange Commission Act, 1993. The Chairman and Members of the Commission are appointed by the government and have overall responsibility to administer securities legislation. The Commission, at present has three full time members, excluding the Chairman. The Commission is a statutory body and attached to the Ministry of Finance. Mission ➢ Protect the interests of securities investors ➢ Develop and maintain fair, transparent and efficient securities markets ➢ Ensure proper issuance of securities and compliance with securities laws Functions ➢ Regulating the business of the Stock Exchanges or any other securities market. ➢ Registering and......
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...Lab 1.2 – Install IIS Web/FTP Service NAME : Hannah deau Class/Sec : _cis 283_________________________ Perform the following steps to complete the lab. Write down all commands and command options that you used. Be sure to answer all questions and fill in all blanks. IIS HTTP and FTP Server : 1. Start your Windows 7 laptop and login. Before attempting this lab, be sure to stop the Apache web service. Since the Apache web server also runs on port 80, we cannot run both simultaneously. 2. IIS manager, web (HTTP), and FTP services may already be installed, but the following steps will help verify. 3. Navigate to the Control Panel / Programs and Features / Turn Windows Features On or Off / Internet Information Services. Select the proper selection for FTP service, IIS management console, world wide web services. 4. After installation, verify that you have the Internet Information Services (IIS) Manager under Administrative Tools. The web and FTP services can be managed from here. It may be necessary to add FTP publishing to enable the FTP service. (This is done in the below steps). [pic] 5. Also verify that the web and FTP server are running. Open a command prompt and type netstat -ban. You should see that the IIS web server is listening under TCP port __80________ and the FTP server is listening under TCP port _21_________. NOTE: You may not see the FTP service running yet. It may not be set up. We will complete that task below. 6....
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...Overview of the SEC Primitive economies are basically barter economies (goods and services traded for other goods and services), while in other mature economies, businesses are organized into proprietorships, partnerships, and joint venture. These types of closely held businesses, in which owners manage their own business, do not need external reporting of the results of operations. However, external reports have become essential with the increase in the size and number of business enterprises, along with the increased amount of people investing capital resources in these businesses. The corporate form of business also increases the need for objective verification of data and creates a need for disclosure of more and better information to owners and potential investors. Furthermore, the increase in value, size and activity of capital exchange in security market also increases the opening of taking advantage in lax conditions and to profit by misrepresentation and manipulation. Hence, the main reason for establishing the securities legislation was because large security market requires operating procedures that would protect investors from fraud and guarantee an adequate supply of capital for economic growth. Background of the SEC The Securities and Exchange Commission (“SEC”) is one of several public and private sector rule-making organizations that have an effect on financial reporting for businesses. It plays a crucial role in the development...
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...professional services including, integrated audit of Carnival Corporation & plc’s Consolidated Financial Statements, systems of internal control of financial statements, audits of IFRS financial statements, statutory audit of various international subsidiaries, consents, registration statements, and other agreed-upon procedures. The Audit-Related Fees for 2013 for services performed on pension plans and 2014 was used for the review of our sustainability report. Tax Fees for 2014 and 2013 were for International Tax Research. All other Fees for 2014 and 2013 were for consulting services and digital advertising due to PricewaterhouseCoppers LLP’s acquisition of an existing service provider, all services were approved by the Audit Committees, so the Audit Committees didn’t rely on the “de minimis” exception, Rule 2-01(c)(7)(i)(C) under Regulation S-X (Proxy statement PG. 79) | 2014 | 2013 | Audit Fees | $5.3 | $5.6 | Audit-Related Fees | 0.0* | 0.0* | Tax Fees | 0.0* | 0.0* | All other Fees | 2.3 | 0.1 | Total | $7.9 | $5.7 | (*) Less than $50,000 4c Since 2003, the Audit Committees Adopted Key Policies and Procedures. With pre-approval of audit and permissible non-audit services must be provided by independent registered certified public accounting firm. Once the Audit Committee conclude that the services requested are in agreement with the rules of the SEC on auditor independence. (pg. 79 Proxy statement) 5c PWC’s issued an Unqualified Opinion on the......
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...SEC Regulations In today’s society where there seems to be an increase in attention toward unethical behavior organizations must adhere to the laws set forth by the SEC. It is now more critical than every that organizations establish policies and processes to ensure that it is complying with the rules and regulations put in place by the Securities and Exchange Commission. Barnes and Noble Inc., meet’s the SEC’s reporting requirements through the use of technology, internal disclosure controls, internal controls over financial reporting, and independent accounting auditors who verify that these controls are in place and working as intended. The SEC requires that Barnes & Noble posts all Interactive Data Files required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months. After studying the proxy statement for Barnes & Noble, Inc., the filings show that historical SEC filings are listed by category for a variety of required reports, including forms 8-K, 10-Q, 10-K, and proxy statements. Barnes & Noble requires that SEC filings are signed by a senior management member like. In Barnes & Nobles case the 8-k SEC filing was signed by the Chief Financial Officer. This helps ensure that the filings are correct, comply with SEC reporting requirements, and are properly communicate to stakeholders in the management of Barnes & Noble, Inc. The organization uses internal auditing committee called the “Audit Committee “. The Audit Committee...
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...SEC 意见信与财务造假 — — — 基于中概股危机的实证分析 张 然 陈 思 （ 北京大学光华管理学院 雷 * 羽 100871） 【摘要】2010 ～ 2011 年，美国卖空机构相继发布研究报告，质疑绿诺科技等在美上市的中概股公司涉嫌财务造 假。其质疑随后被证实，多家中概股公司股价暴跌，最终停牌或退市。据 Bloomberg 报道，此次做空机构识别财 务造假的重要信息来源竟然是此前未曾引起投资者关注的美国证监会 （ SEC） 公开披露的公司公告意见信。本 文以中概股危机为背景，研究 SEC 意见信对于财务造假的预测作用。研究发现： 相较于没有收到 SEC 意见信的 企业，收到意见信的企业更有可能成为问题公司。SEC 意见信提出的问题数量越多，解决难度越大，企业越有 可能成为问题公司。本文的研究对于帮助投资者理解如何解读 SEC 意见信，识别财务造假有重要意义，也为 SEC 制定合理的意见信披露制度提供政策性建议。 【关键词】 SEC 意见信 财务披露 财务造假 反向并购 一、引言 要监管机构。为了保证上市公司向投资者提供的信息真实 ” 自 2010 年起，美国的 “浑水 “香橼” 等做空机构相 继对在美 上 市 的 中 国 公 司 发 起 攻 击，质 疑 “绿 诺 科 技” 有用，符合证券法等法律法规，SEC 会审核上市公司提交 的文件 （ 如季报，年报，证券注册申请等） ，对其信息披 “东南融通” 等公司涉嫌财务造假，被做空的公司股价暴 露的恰当性，完整性以及合规性予以评估，并通过意见信 （ comment letter） 将发现的问题向公司进行反馈。意见信中 跌，市值缩 水。美 国 证 券 交 易 委 员 会 （ Securities and Exchange Commission，简称 SEC） 随之介入调查。至 2011 年， 针对财务造假公司的大部分质疑被证实，40 余家在美上市 的中国公司被长期停牌或退市。而据 Bloomberg 报道，此次 的意见涵盖基本信息错漏，重要事项披露不完善，违背会 计准则等多个方面。公司依据问题的具体情况向 SEC 予以 回应。通常，SEC 与公司间会经过多轮交流，直到 SEC 提 做空机构识别财务造假的重要信息来源竟然是一直未被公 众注意的 SEC 公开披露的公司公告意见信。报道中提到： 出的问题被全部解决，审核过程宣告结束。在全部审核过 程完成以后的 45 天 （ 2012 年后改为 20 天） ，SEC 会将意 “美国做空机构浑水公司的分析师报告引发了中概股 见信及回复公开披露在其网站上，供投资者查看。SEC 希 近 70 亿美元的损失，而在其进行研究发现做空机会时用到 望通过意见信，帮助公司及时发现财务披露上的不足，提 的一项秘密武器正是美国证券交易委员会的公开网站。浑 水公司的高管表示，网站上所披露的 SEC 向公司高管发出 高信息披露质量； 同时为投资者评估企业价值，制定合理 的投资决策提供参考。 的意见信，包含了企业信息披露准确性和合规性的重要信 然而，无论是在实务界还是在学术界，意见信都尚未 息。然而由于意见信并非即时公布，其尚未引起投资者的 ” 足够关注。 （ Bloomberg，2013） ① 得到足够的关注。在学术界，虽然对于企业信息披露的研 ...
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