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Regulatory Measures
Events that led to implementation of various regulatory measures
The implementation of the 1984 Sentencing Reform Act called for the establishment of Federal Sentencing Guidelines for Organizations (FSGO). The United States Sentencing Commission decided to come up with these guidelines targeted at individuals and firms. The key aim was crime prevention and decreasing disparities in sentencing. (Mercer, 2003). At first, in the year 1991, the idea of organizational punishment mitigation was introduced, for cooperation and effective adherence to the program.
The 2002 federal regulation, SOX (Sarbanes-Oxley Act), put extensive financial and auditing related regulations in place for publicly-traded organizations. The chief goal was regulation of corporate practices like financial reporting at such corporations.
The Consumer Financial Protection Bureau (CFPB), instituted as part of the 2010 Consumer Protection Act and the Dodd-Frank Wall Street Reform, is responsible for the oversight of federal financial regulations expressly protecting consumers (i.e., individuals who store the money they own in credit unions and banks, use credit cards for purchasing services and goods, and purchase homes on loan) (Mercer, 2003).
The 1977 FCPA (Foreign Corrupt Practices Act) was implemented to forbid specific classes of individuals and groups from paying foreign governmental authorities to facilitate business acquisition or retention (Martin, Aaron Klein, & Justin Schardin, 2017).
The impact of these laws on business ethics
The FSGO, SOX, FCPA and CFPB have all had a range of impacts when it comes to business ethics, such as:
a) Establishment...
It also encompasses a routine risk evaluation, followed by making changes to the ethics and conformity initiative, as required.
Summary of an article
Mercer, W. (2003). Assessing Compliance with the U.S. Sentencing Guidelines: The Significance of Improved Data Collection and Reporting. Federal Sentencing Reporter, 16(1), 43-51.
According to this article, following years of…
Federal Bureau of Prisons While most people seem to agree that prisoners should have access to basic healthcare while incarcerated, there is tremendous variation about what type of healthcare constitutes basic care. The reality is that many prison inmates receive a better quality of healthcare than non-incarcerated working-class individuals, but many inmates also suffer consequences because of significant medical neglect. For the federal prison system, the Federal Bureau of Prisons
finance and financial entrepreneurship. The basis of the article is on a discussion that was held on this subject among four leading lights of financial entrepreneurship in the United States - Michael Milken, Lewis Ranieri, Richard Sandor and Myron Scholes. These people are famous in their own right and have had a sizeable role in financial entrepreneurship in the U.S. over the last 20 years. We have first discussed
Catholic church and public policy have remarked that the members of American clergy in general, without even excepting those who do not admit religious liberty, are all in favour of civil freedom; but they do not support any particular political system. They keep aloof from parties, and from public affairs. In the United States religion exercises but little influence upon laws, and upon the details of public opinion; but it
Importantly, he builds his case on the sociological theories of those who preceded him. To this extent, he remarks at one juncture, "as Giddens (1984) states, 'institutions by definition are the more enduring features of social life... giving solidity to social systems across time and space.' Institutions exhibit these properties because of the process set in motion by regulative , normative, and cultural cognitive elements." (Scott, 1) In other words, the implications of the institution are
" Then there are the "...5 million employees of the federal bureaucracy and the military" at his disposal. Also, the president runs the executive branch of government; Cummings writes that he is "chief of state" - the "ceremonial and symbolic head of state as well as head of government" (391) - as well as being "chief executive" of the government. He has the power to "grant reprieves and pardons for offenses