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Impact Of Insider Trading On Business Ethics In The Union Bank Of Switzerland

3048 words - 12 pages

Table of Contents3Memo Executive summary 45CHAPTER 1 - INTRODUCTION 5Background 5Statement of Purpose 6Scope 6Limitations 6Methods of Research 7Chapter 2 - Finding 7Issue at Hand 8Impact on Regulation 13Chapter 3 - Conclusion 13Final Recommendations: 14References Here is the report you assigned in partial fulfillment of the requirements for BUS 305.Union Bank of Switzerland has been around since the mid 1800's; in its time it has acquired many other banks, through straight buy outs or by assimilation of other banks. Currently a multinational company having offices all over the world, it is a global leader in the banking industry.This report analyzes the business ethics of insider trading and the consequences that Union Bank of Switzerland had encountered a few months ago. The company was involved with financial fraud, which included rogue trading in there London, based office. The amount was nothing to shy away from with an amount of $2.3 Billion; it received extensive media attention because of its unethical business behavior. After the 2008 financial collapse, media was all over major banks for their unethical and greedy behavior and in 2011 the same type of unethical issues came to lime light again.Currently in the United States, amendments have been put in place to counteract any unethical behavior that may be done in the banking industry. From the Federal Reserve Act of 1913, to the Dodd-Frank bill of 2010, it appears that the length of these documents have been getting greater and greater, because the amount of information that is needed to keep people from doing unethical business activities.We allocated portions of the report to different group members. We met as a group a few times before this report was due, to make sure that we were on track with the requirements.We look forward to hearing your feedback and hope that we have met your expectations for the report.Executive summaryThis report analyzes the Union Bank of Switzerland, established in 1854, and around 1872 it became a joint-stock company. UBS is one of the largest commercial banks in Switzerland. UBS is a global financial services company, with branches overseas. UBS headquarters are in Basel and Zurich, Switzerland. Mergers of two regional banks created UBS. This report is going to focus on the UBS Company.The findings were based on the UBS and its ethics surrounding it. With the company rapidly growing in 40 countries and employing close to 65-thousand people, as of today UBS is one of largest commercial banks in the world. UBS and Swiss Bank Corporation formed together in 1998. The union bank of Switzerland was created in 1912. UBS specialty is in investment banking. In 1945, UBS was moved its offices to Zurich. UBS expanded worldwide around the 1960s. In November 2000, UBS AG merged with Paine Webber Corporation, which was a full f services and securities firm located in New York, and established in 1879. As of 1997, the UBS network totaled to 357 branches.On September 15,...

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