Compliance, Ethics, Corporate Governance

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Course: Compliance, Ethics and Corporate Governance
Date: October 7, 2013

Case Study

Re: The unintermitted wave of financial scandals and whether regulators are repeatedly slow to respond by bringing compulsion actions against corporate wrong doers and in such a manner preventing widespread negative effects. Discuss the key reasons why this would occur and act recommendations to reduce the impact.
Waves of in~d shenanigans continue to shadow the pecuniary sectors despite the near cataclysmic break-down of the global financial system in 2008-09. While it has been dubbed the greatest in quantity disastrous financial event since the 1929 Great Depression, the act of asking arise whether the concerns of widespread negative personal estate justified and the relentless pressure up~ the body Regulators to do more to change into the impact of financial disasters? The Icelandic monetary crisis of 2008–2011 suggests that the solicitousness is necessary. Iceland’s economy collapsed and its lineage market lost 90% of its precise signification when its three major commercial banks failed following a bank continued course on one bank that spread to the others! Closer home, the January 2009 bankruptcy of Colonial Life Insurance Company (CLICO) of Trinidad and Tobago, the largest insurance provider then, represented a major monetary shock to the Caribbean. CLICO’s break-down impacted all CARICOM states except on this account that Jamaica and Haiti. In the bring to life again of banks and Insurance failures, investors were more remote confronted with the demise of a redundancy of ponzi schemes that also stretched athwart national boundaries - Bernard Madoff (USA); Allen Stanford (USA and Antigua); and Cash Plus, Olint and World Wise, the three largest schemes in Jamaica, to indicate a few. The speed and exactness of these financial let downs - global, regional and or general - show how interconnected the financial regularity is and the wide effects common failure can have. The possibility of widespread financial disasters has placed regulatory regimes less than intense scrutiny.

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