Case Study Of An Independent Broker-Dealers

The US Securities and Exchange Commission (SEC) is the US federal agency that holds the primary mandate to enforce federal securities laws and regulations to control the securities industry and the country’s stock exchange and regulation of all activities and organizations including the US electronic securities market. The SEC is committed to promoting a market environment that yields public trust characterized by integrity to attain its mission of protecting investors through maintenance of fair and efficient markets through facilitation of capital information (Basagne, 2010). The SEC financing is a major area of focus since there has been major concern regarding the SEC agency financing and whether they utilize the

The Securities and Exchange Commission has the mission of protecting investors by maintaining fair, orderly and efficient markets. The SEC does this in a number of ways, and firms need to pay attention to these ways in order to ensure SEC compliance. The SEC has enforcement authority over a number of areas related to the nation's capital markets, including insider trading, accounting fraud, and providing false information. The SEC's jurisdiction extends to all securities that are traded publicly. Privately-held companies do not need to register with the SEC (SEC.gov, 2012).

Service innovation. Customers are open to increasingly outsourcing supply chain and logistics activities to third parties. Flexible and innovative solutions are highly important to gain and retain profitable market share.

While faced with competitive markets and globalization, companies are always looking for ways to improve their overall cost and pricing structure. It is becoming increasingly more difficult to maintain quality levels of service while providing good and services at rates where companies can remain profitable.

The Securities and Exchange Commission (SEC) establishes and improves standards of financial accounting and reporting for the guidance and education of the public.

The effects of the economic market crash of 1929 appeared in how the public sustained severe losses at the hands of securities traders and corporations. With the unmistakable need to restore financial specialist trust in the securities market President Roosevelt pushed for a huge securities regulation and the creation of the Securities Act of 1933 sprouted along with the approval of Congress. Then in a year later in 1934 Congress observed the need to make modifications to the 1933 Act by establishing an independent governmental regulatory body the Securities and Exchange Commission (SEC). The SEC main responsibility came to be to ensure and protect the public against malpractices in the securities and financial markets. As the years passed businesses and technology advances developed and the economic market expanded. With the economy market positive rise many companies needed to keep up and acted upon fraudulent acts in order to stay in the business competition. Companies acted fraudulent by “cooking the books” in recording

FINRA's next role in the industry is to assist in disciplining those who break the laws. According to the FINRA (2014) website they have the authority to “fine, suspend, or bar” in severe cases. One of the most notable cases was that of a Florida broker who ripped of thirty or so NFL players. The investors all lost a great deal of money, but with the help of FINRA (2014) the individual was brought to justice and barred from the industry. Finra (2014) also aided in getting 1.6 million dollars in restitution from an individual who conned the elderly and even got a million dollar fine for their wrongdoing. These cases both show the reach of their enforcement and their abilities. For more severe violations FINRA (2014) will look to the SEC to assist in the prosecution of those violators. The SEC focuses usually on the markets and companies more then the actual individuals where associations like FINRA and others enforce the sellers of the products.

They created one of the first CTI (Computer Telephony Integration) solutions which enabled business call center agents to focus on resolving customer issues. Genesys was able to offer Overstock.com a cloud-based Contact center solution that would remove the majority of cost associated with maintaining in-house infrastructure dedicated to the contact center. The cloud-based system would also be flexible with the increase in demand during seasonal times as well as utilize less staff to manage. After having 45 days to analyze, formulate a recommendation to implement a new solution that would meet all the requirements that Overstock.com had as well as include more advanced “future-proof” technologies and industry leading Service Level Agreements, and get that recommendation approved by Overstock.com executives and IT support and the existing Contact Center, the implementation of the new system was completed within 90 days. The new system was completely virtualized and included features such as advanced routing, single-view reporting and administration, and integrated call monitoring and quality

This letter serves to confirm that Pro-Sure Brokers will no longer forward confirmation of cover on behalf of ZAV TRADING ENTERPRICES CC, to your offices.

The number of seats has remained constant, at 1,366, since 1953. Institutional investors are corporations that invest on behalf of individuals and companies. Institutions include pension funds, mutual funds, insurance companies and banks Buy and sell orders meet directly on the trading floor, and prices are determined by the interplay of supply and demand. In contrast, in the over-the-counter market and the price is determined by a dealer who buys and sells out of inventory. At the NYSE, each listed stock is assigned to a single post where the specialist manages the auction process. NYSE members bring all orders for NYSE-listed stocks to the Exchange floor either electronically or by a floor broker. A broker acts as an agent, representing customer orders to buy or sell stock. There are two main types of floor brokers: commission brokers and independent brokers. Commission Brokers. Commission brokers are employed by brokerage houses, which are members of the NYSE. A commission broker executes the orders of his firm's customers. Independent Brokers. Independent brokers work for themselves. Although they are not affiliated with any brokerage house, they handle orders for brokerage houses that do not have full-time brokers, whose brokers are off the floor, or are too busy to handle a specific order. Independent brokers were once referred to as "$2 brokers," a term coined when they received $2 for every 100 shares they traded. Their fee, paid by commissioned

The majority of NYSE members are registed as commission brokers. Comisiion brokers are to execute costumer orders to buy and sell their stocks. Their primary responsibility to customers is to get the best price possible for the order they have directed the commission broker. The second largest group of members in the NYSE are the specialist who are assigned dealers for a set of securities. Specialist or market makers are obligated to maintain a fair, orderly market for the securities assigned to them. They keep watch and post bids and ask prices for the securities that are in their care. They make a market by standing ready to buy at bid prices and sell at asked prices when there is a temporary disparity between the flow of buy orders and that of sell orders for a security. The third group of members in the exchange are floor brokers. They are used by the commission brokers to handle the trades when they are busy handling the larger picture. Some commission brokers will

“Value is the customer’s assessments of the benefits of the service weighted against all the cost involved.” (Johnston and Clark, 2008, pg. 44). In a service organisation, operations determine the balance between minimising organisational cost and maximising customer’s value. The service value of BA includes the following:

I order for a company such as First State Bank to improve its banking accuracy and speed in order to enhance customer experience. The company needs to first collect customer feedback via the survey on the company web portal or questionnaire at the local branches. After collecting data from the customer survey management and the IT department will apply the customer feedback in their process to enhance the company database. By configuring their database into a crossbreed of centralized and decentralized processing and improves the banking experience. Allowing customer’s the ability to bank at any of the 11 local branches; monitoring transaction and central processing the customers’ data while updating the database. All cash, checks and payment of customer’s bills can be recorded via remote computers (ATM’s and local branch computers). Once the customer transactions are recorded by the computer or ATM the data is then sent to the data warehouse a few times a day updating customers banking statement. For example, local business payroll account can be stored and processed via electronically since most transactions is done electronically or manual cash deposits. The data warehouse that located in the main branch can process more efficiently if a highly experienced data processor is used to alleviate the database of data communication processes. Using a secure carrier network is the best method for good communication, while processing data between servers and the data warehouse. A

One chief risk of the acquisition of a broker is the effect this will have on both on the liquidity of the insurer and the lack of funds for other opportunities. Let us first look at the risks presented through the diminishing of capital reserves and the effect this will have on the liquidity of the business.

This report will discuss my proposal for a project of implementing an online registration and event management system. Specifically, GoSignMeUp (GSMU). Essentially, this will separate the Retail Sales order process and the Registration order process. This will eliminate the need for a custom module in our existing ERP system.