The Case Of Standard Chartered Bank And Ors Essay

The aim of this project is to make a concrete emphasis on the internet banking services of Erste Bank, Hungary. Taking into consideration its customer services, which will assist me in answering the thesis question. The e-banking of Erste Bank will be analyzed using SWOT, the SWOT analyses will give us the summary of the strengths, weaknesses, opportunities, and threats in the

Managing a Bank crisis is one of the most difficult tasks of a regulator. Banks and financial institutions had to take counter measures in order to survive and remain competitive. Efficient regulatory framework identifies the benefits of a sustainable financial system. It helps the organizations to work efficiently, objectively and the country will have transparent markets. Regulatory system is open minded to the needs of investors when implementing directions to curtail regulations for certain types investment related products and services. It also maintains accountability with respect to market participants and policy makers.

This essay will explain the concepts of separate personality and limited liability and their significance in company law. The principle of separate personality is defined in the Companies Act 2006(CA) ; “subscribers to the memorandum, together with such other persons as may from time to time become members of the company are a body corporate by the name contained in memorandum.” This essentially means that a company is a separate legal personality to its members and therefore can itself be sued and enter into contracts. This theory was birthed into company law through the case of Salomon v Salomon and Co LTD 1872. This case involved a company entering liquidation and the unsecured creditors not being able to claim assets to compensate them. The issue in this case was whether Mr Salomon owed the money or the company did. In the end, the House of Lords held that the company was not an agent of Mr Salomon and so the debts were that of the company thus creating the “corporate Veil” .

Section 184 of the Corporate Act, imposes criminal liabilities on directors, which covers situations where directors are reckless, intentionally dishonest and cause detriment to the company. Directors have a responsibility to their company and shareholders, which is to honestly believe that they are acting in the best interest of the company and for a proper purpose at all time. In s 184(1) of the Corporations Act, directors must always act in good faith and for the best interests of the company. The good faith and interest provisions are civil obligations as well under s 181 of the Act. However, a director or officer will be committing a criminal offence if he or

The financial crisis in 2008 brought about drastic changes in customer behavior all over the world and encouraged customers to take a shifted action towards their needs and wants (Mansoor and Jalal 2011). In the age of globalisation, as no nation can keep itself aloof from the world economic volatility, India too, was affected significantly in economical as well as social dimensions. The economic turmoil had a profound impact on consumers (Flatters and Willmott 2009) and most of the firms including ones in financial sector faced serious challenges in satisfying the customers as they have became more skeptic and cautious. Even though, the Indian banking sector has performed extremely well over the last few years and has shown substantial resilience during the global financial crisis (Das et al 2011), new challenges are seen emerging from customers. The challenges posed are mainly due to changes in customer demands and diffusion in loyalty intentions due to low switching costs. The parameters critical in the imparting customer satisfaction in the banking context, thus demands re-definition and analysis for formulating strategies aimed at competitive advantage. Empirical evidences from studies conducted in various contexts underlines the causal linkage among variables such as perceived service quality and customer satisfaction on loyalty intentions of the customer. However, consumer behavior being complex in nature influenced by environmental changes,

This is an economic strategic record, which is divided into three components. Section A describes and introduced Commonwealth Bank and Nab Bank concerning the mission, current price methods and the market definition of the Commonwealth Bank and Nab Bank. These banks are the top four biggest banks in Australia, which is delivering monetary offerings. To be trained identifies countless strategic variables, which greatly influence the efficiency and the profitability of the bank. Section B, describes the primary strategic variables that form the part of interior analysis like: interest rates, financial rates, financial ratios, performance, activity ratio, assets, Capabilities, Core expertise. Macroeconomic developments in the same way are used to examine the ability of macroeconomic variables to explain movements in individual banks risk and banks credit risk. Resources kind the essential detail for any organization and hence availability of sufficient resources determines the success of the group. Section C, demonstrates the appropriate idea about the equity markets, credit markets, and management of economic condition of two banks.

The Centro director’s penalty case took place in the early months of 2007 after Centro Properties Group and Centro Retail Group closed its financial books owing to the end of a fiscal year (Kershaw, 2012). Their 2007 annual reports concealed the whereabouts of 1.5 billion dollars in short-term liabilities while asserting that they were non-current liabilities. The company also did not reveal guarantees of short-term liabilities of an associated company in the range of 1.75 billion dollars. The company did not also reveal the whereabouts of another 500 million US dollars that it categorized as non-current.

The concept of systemic risk sprung to the foreground of the public’s consciousness during the financial crisis of 2007-8 as the Too Big To Fail (TBTF) banks were bailed out by the various US Federal Government agencies e.g., US Treasury via the Troubled Asset Relief Program (TARP) and the US Federal Reserve via Quantitative Easing (QE). However, as it turns out, the concept of systemic risk is not so easy to define in legal terms—as illustrated by the difficulty in nailing down the definition by US Congress via the Dodd-Frank legislation or by the US Treasury and the Federal Deposit Insurance Corporation (FDIC) via regulation (Horton,

FinancialStar has many competitors in the financial services industry. We have three major com-petitors in the credit union industry and are in the top five list of credit unions in the United States. We also compete with Bank of America, BB&T and Wells Fargo since membership with FinancialStar is open to all legal residents of United States. In Canada, we are the only credit union cooperation, but compete with the Royal Bank of Canada and TD Bank.

Recent debate has centred on the issue of strengthening companies’ liabilities for their illegal conduct. To prevent hiding tax, banks and foreign dodgers meet ‘strict liability’ criminal penalties (Wintour 2015). Treanor (2014) reports that if banks fail, new criminal responsibilities are held by bankers. According to the Curzon and Richards (2007), corporate liability is “the extension of liability for the commission of offences to companies”. Gooch and Williams (2015) define the corporate crime as “the acts or omissions of a company that are punishable in criminal courts.” According to the Convention (1999), legislative and other preventive actions are accepted to guarantee that legal entities may be responsible for perpetrating bribery and actions for personal gain, if the failure of control or management by an individual makes the probability of lawless violations for the benefit of the legal entity (Wyngaert et al. 2000, p. 690). Bowcott (2016) has argued that it is not necessary to strengthen corporate criminal liability of companies. However, it is clear that having a dominant position in the organisation, owners and managers in some occasions break the law to benefit the firm and private interests. Bowers (2013) emphasises target to reinforce corporate criminal liability of companies for their actions will aid contribute the best corporate culture in the UK. This essay will argue that it is necessary to reinforce corporate criminal law in order to

Other shareholders in a company likewise have limited liability, therefore no risk of personal loss so in the event of company failure, company law limits their personal liabilities so even though this benefits the shareholders the ordinary people see the result is an economy is run by shareholders of companies whose management have negligible direct personal accountability or loss if those companies should fail. Consequently, the ethics of that economy become questionable if the protagonists do not face the risk of unrestricted personal loss. The Salomon decision allowed, with full agreement to the companies act, sole traders and shareholders to have limited liability. The establishment of one-man companies under the Companies Act was solidified by this case. It now became of no relevance if shareholders are independent of one another, interdependent, dummy shareholders or nominees for the controlling shareholders; that is to say, the company was not an agent for its shareholders.

BNP Paribas bank is the 5th privet bank around the world with the investment solutions core business, its offering product and services with high added value and its design to meet the emptions on individual client. BNP Paribas is French bank and it has many branch around the world and in different 30 countries like in the middle east, United Arab Emirates ,Kuwait , Qatar , Saudi Arabia , South Africa and Bahrain and around 6300 employees round the world. It was established in Qatar through a subsidiary in 1956, and became a full commercial branch in 1973.Total employees (including subsidiaries): around 40 which different nationality Indian, Bahrainis, Frenches, Egyptians, Lebanese and Qatari. In Qatar branch the majority of workers are Bahrainis and Indian and only three Qatari working here. The main branch in the Middle East is in Bahrain so, any work do in Qatar it must request by Bahrain even the employee’s salary. In BNP Paribas the Customers segments are the Corporates and High Net worth Individuals and the Main competitors are Qatar National Bank, Commercial Bank of Qatar, Doha Bank, HSBC and Standard Chartered Bank.

How did a trader in Singapore directly cause the collapse of the 230-year-old merchant bank in England? Nick Leeson was the head of Barings Futures Singapore (BFS) which is one of the subsidiary companies of Barings Group. In 1995, His unauthorized trading activities made Barings completely went bankrupt. This is the biggest financial scandal of last century. By interpreting the Barings case and the COSO framework which contains five components of internal control system, we would have an idea of why Barings became insolvent and how to improve in designing, performing and evaluating internal control for the company.

Michael Sandberg, chairman of HSBC in Hong Kong, was considering the alternatives for expanding in the US market.

Provisions such as limited liability on part of auditors, increased interest for shareholders, etc. are part of the Companies Act of 2006 in the UK. This Act includes limited liability by contract with regard to such an amount which is deemed reasonable and fair in all circumstances (Coffee, 2007). In the last few years, changes have been brought in terms of the legal regime in the UK’s governance system. For instance, since 1989, firms in the UK have been able to incorporate, in that the firms can form limited liability partnerships, wherein they can protect all the partners from any kind of personal bankruptcy unless the partners were responsible personally in any kind of faulty opinion in terms of audit. Nonetheless, firms in the UK have continued to choose abandoning the joint responsibility option for lucrative limited liability regime (Hicks, 2008). The firms in the UK have used the case of Arthur Anderson LLP to modify and reform joint and several liability based on two arguments and these were – collapse of a major firm under the pressure of aforementioned liability may leave the market concentrated; and liability risk can be considered as a barrier in terms of smaller firms who attempt to enter a concentrated market. Within the context of limited liability, there are more unique kinds of liabilities which are deemed to be missing from the Act