Digital Commons Network^™

Special Considerations In Auditing Financial Instruments, September 1, 2014; Audit Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

The Deterrence Effects Of Vicarious Punishments On Corporate Financial Fraud, Daphne W. Yiu, Yuehua Xu, William P. Wan

Research Collection Lee Kong Chian School Of Business

This study extends the research on corporate financial fraud by developing a new perspective on the deterrence effects of vicarious punishments premised on social learning theory. We posit that firms vicariously learn about punishments from their peers by picking up modeling cues, environmental cues, and social cues in the inhibitive learning process, thus being deterred from committing future fraudulence. Using a matched sample of 604 observations of Chinese listed firms between 2002 and 2008, our findings show that an observing firm is deterred from committing fraud if the peers in its industry are caught and punished. We further find that …

The Protection Of Deposits And Depositors: A Limited Interpretation Of 12 U.S.C. § 1833a, Alyssa King

Catholic University Law Review

No abstract provided.

Medicare Fraud In The United States: Can It Ever Be Stopped?, Chelsea Hill, Alex Hunter, Leslie Johnson, Alberto Coustasse

Management Faculty Research

The majority of the United States health care fraud has been focused on the major public program, Medicare. The yearly financial loss from Medicare fraud has been estimated at about $54 billion. The purpose of this research study was to explore the current state of Medicare fraud in the United States, identify current policies and laws that foster Medicare fraud, and determine the financial impact of Medicare fraud. The methodology for this study was a literature review. Research was conducted using a scholarly online database search and government Web sites. The number of individuals charged with criminal fraud increased from …

Negotiating Bribery: Toward Increased Transparency, Consistency, And Fairness In Pretrial Bargaining Under The Foreign Corrupt Practices Act, Peter Reilly

Faculty Scholarship

This article will explore the factors that contribute to less-than-optimal transparency, consistency, and fairness in pre-trial bargaining under the Foreign Corrupt Practices Act. The article will conclude with recommendations to strengthen the current system and make it more fair.

The article is divided into four Parts: Part I will discuss the extent of the bribery problem worldwide; the history of the FCPA; and the reasons behind the recent dramatic increase in FCPA enforcement.

Part II will discuss the elements that make up FCPA ‘jurisprudence’ given that so few cases are litigated in court; the history of using DPAs and NPAs …

Negotiating Bribery: Toward Increased Transparency, Consistency, And Fairness In Pretrial Bargaining Under The Foreign Corrupt Practices Act, Peter Reilly

UC Law Business Journal

From business to individual, almost anyone can be the subject to investigation for possible violations of the U.S. Foreign Corrupt Practices Act. If a party is indicted, the case may be resolved through an ADR vehicle currently being employed by the DOJ: The Deferred Prosecution Agreement (“DPA”) or the Non-Prosecution Agreement (“NPA”).

The use of such agreements is not guaranteed as an alternative to trial; rather they are awarded to defendants through negotiations with the DOJ. But here is the problem: This negotiation between prosecutor and accused can sometimes be unfair to the point where any “bargaining” taking place is …

Monitor’S Final Consumer Relief Report Regarding Defendant Bank Of America, N.A., United States Of America, Et Al. V. Bank Of America Corp., Et Al.

National Mortgage Settlements Digital Archive

No abstract provided.

Compensating Victims Of Crime, Douglas N. Evans

Publications and Research

Victims of violent crime are often unable to access financial compensation to offset the costs of victimization (e.g., medical, lost wages, funeral expenses) despite the massive amounts of money set aside for just that purpose. Currently, there is about $11 billion in the federal Crime Victims Fund (CVF). Less than 10 percent of this amount is allocated to state victim compensation programs. This report explores the funding mechanisms used by federal and state governments to compensate victims of crime, and it describes the administrative and policy problems in these systems. The report offers several recommendations for improvement. States have their …

Bureaupathology And Organizational Fraud Prevention: Case Studies Of Fraud Hotlines, Chelsea Ann Binns

Dissertations, Theses, and Capstone Projects

This dissertation examined the effect of organizational bureaucracy on fraud hotline performance. Fraud hotlines are used to receive anonymous fraud tips from employees in all sectors to prevent and detect fraud. This work contributes to the research on fraud hotlines, which today is very light. This work also examined individual hotline performance against organization theory, which is absent in the literature. The literature also doesn't include studies using social media data to determine organizational climate. This work contributes to that literature by providing a collective case study examination of the fraud hotlines in six organizations. Their hotline performance was examined …

Revisiting The "Merger Problem" In Money Laundering Prosecutions Post-Santos And The Fraud Enforcement And Recovery Act Of 2009, Leslie A. Dickinson

Notre Dame Journal of Law, Ethics & Public Policy

No abstract provided.

Dude, Where's My Car Title?: The Law, Behavior, And Economics Of Title Lending Markets, Paige Marta Skiba, Kathryn Fritzdixon, Jim Hawkins

Vanderbilt Law School Faculty Publications

Millions of credit-constrained borrowers turn to title loans to meet their liquidity needs. Legislatures and regulators have debated how to best regulate these transactions, but surprisingly, we still know very little about the customers who use title loans. This Article reports findings from the first large-scale academic study of title lending customers. We surveyed over 400 title lending customers across three states and obtained information about customers’ demographic and behavioral characteristics.

Based on the results of our survey and guided by insights from behavioral economics, this Article seeks to reframe the title lending debate. Instead of focusing on the risks …

When Moral Reasoning And Ethics Training Fail: Reducing White Collar Crime Through The Control Of Opportunities For Deviance, Cynthia A. Koller, Laura A. Patterson, Elizabeth B. Scalf

Notre Dame Journal of Law, Ethics & Public Policy

No abstract provided.

The “Too Big To Jail” Effect And The Impact On The Justice Department’S Corporate Charging Policy, Court E. Golumbic, Albert D. Lichy

UC Law Journal

In the wake of the 2008 financial crisis, the failure of the Department of Justice (“Justice Department” or “DOJ”) to bring criminal charges against any financial institutions prompted critics to question whether the DOJ maintained a policy that certain corporations are “too big to jail.” The criticism piqued after the DOJ announced that it had entered into a deferred prosecution agreement (“DPA”) with HSBC to resolve a massive money laundering and government sanctions investigation. This wave of criticism is the backdrop for what the Authors call the “too big to jail” effect—two related developments, each of which has the potential …

Deafdigest: Blue Edition, May 18, 2014, Barry Strassler

DeafDigest Blue 2014

No abstract provided.

Monitor’S Report Regarding Compliance By Defendant J.P. Morgan Chase Bank, N.A. For The Measurement Periods Ended September 30, 2013 And December 31, 2013, United States Of America, Et Al. V. Bank Of America Corp., Et Al.

National Mortgage Settlements Digital Archive

No abstract provided.

Monitor’S Report Regarding Compliance By Ocwen Loan Servicing, Llc As Successor By Assignment From Defendants Residential Capital Llc, Gmac Mortgage Llc, And Ally Financial Inc. For The Measurement Periods Ended September 30, 2013 And December 31, 2013, United States Of America, Et Al. V. Bank Of America Corp., Et Al.

National Mortgage Settlements Digital Archive

No abstract provided.

Monitor’S Report Regarding Compliance By Defendants Wells Fargo & Company And Wells Fargo Bank, N.A. For The Measurement Periods Ended September 30, 2013 And December 31, 2013, United States Of America, Et Al. V. Bank Of America Corp., Et Al.

National Mortgage Settlements Digital Archive

No abstract provided.

Monitor’S Final Consumer Relief Report Regarding Defendant Wells Fargo & Company’S Compliance With Its Agreement With The Attorney General Of The State Of Florida, United States Of America, Et Al. V. Bank Of America Corp., Et Al.

National Mortgage Settlements Digital Archive

No abstract provided.

Monitor’S Final Consumer Relief Report Regarding Defendant Bank Of America Corporation’S Compliance With Its Agreement With The Attorney General Of The State Of California, United States Of America, Et Al. V. Bank Of America Corp., Et Al.

National Mortgage Settlements Digital Archive

No abstract provided.

Monitor’S Final Consumer Relief Report Regarding Defendant Wells Fargo & Company’S Compliance With Its Agreement With The Attorney General Of The State Of California, United States Of America, Et Al. V. Bank Of America Corp., Et Al.

National Mortgage Settlements Digital Archive

No abstract provided.

Monitor’S Final Consumer Relief Report Regarding Defendant Bank Of America Corporation’S Compliance With Its Agreement With The Attorney General Of The State Of Florida, United States Of America, Et Al. V. Bank Of America Corp., Et Al.

National Mortgage Settlements Digital Archive

No abstract provided.

Monitor’S Final Consumer Relief Report Regarding Defendant J.P. Morgan Chase & Co.’S Compliance With Its Agreement With The Attorney General Of The State Of Florida, United States Of America, Et Al. V. Bank Of America Corp., Et Al.

National Mortgage Settlements Digital Archive

No abstract provided.

Monitor’S Final Consumer Relief Report Regarding Defendant J.P. Morgan Chase & Co.’S Compliance With Its Agreement With The Attorney General Of The State Of California, United States Of America, Et Al. V. Bank Of America Corp., Et Al.

National Mortgage Settlements Digital Archive

No abstract provided.

Monitor’S Final Consumer Relief Report Regarding Defendant Bank Of America Corporation’S Compliance With Its Agreement With The State Of Nevada, United States Of America, Et Al. V. Bank Of America Corp., Et Al.

National Mortgage Settlements Digital Archive

No abstract provided.

Criminal Accountability And Wall Street Executives: Why The Criminal Provisions Of The Dodd-Frank Act Fall Short, Jennifer G. Chawla

Student Works

No abstract provided.

Foreword: The Profession’S Monopoly And Its Core Values, W. Bradley Wendel

Fordham Law Review

No abstract provided.

Choosing Which Rule To Break First: An In-House Attorney Whistleblower’S Choices After Discovering A Possible Federal Securities Law Violation, Naseem Faqihi

Fordham Law Review

    The early twenty-first century has seen several instances of large-scale federal securities law violations—such as Enron, WorldCom, and the Bernie Madoff scandal—that have garnered widespread attention and heavily impacted the global economy. In each of these cases, whistleblowers tried to expose the underlying fraud. These and other scandals led to the enactment of new laws to protect whistleblowers who seek to expose these kinds of violations.

    In-house attorneys are in a special position to discover, understand, and expose their organization’s federal securities violations. However, should in-house attorneys discover misconduct, and when deciding whether or not to take action, they must …

Preying On The Graying: A Statutory Presumption To Prosecute Elder Financial Exploitation, Andrew Jay Mcclurg

UC Law Journal

With seventy-eight million baby boomers in or nearing retirement, elder financial exploitation has been labeled the “Crime of the 21st Century,” yet little has been done to address the problem. While states and the federal government have passed hundreds of laws protecting children based on the assumption they are vulnerable and unable to protect themselves, older at-risk adults have been comparatively ignored despite extensive research showing they too are vulnerable. A substantial roadblock to prosecuting elder financial predators is the inability to prove that the financial transfers at issue were the result of exploitation rather than legitimate transactions. Many victims …

Essays On Mergers And Acquisitions, Marcin Krolikowski

USF Tampa Graduate Theses and Dissertations

This dissertation includes two essays that examine mergers and acquisitions. In the first essay we examine how pay-for-performance influences the quality of merger decisions before and after Sarbanes-Oxley (SOX). Pay-for performance has a significant positive effect on acquirer returns of 0.9% pre-SOX and 1.1% post-SOX around the three day event window. Bidders with high pay-for-performance pay a 23.3% lower merger premium in listed target acquisitions. The positive effect of pay-for-performance is more important for public target acquisitions overall, for small acquirers pre-SOX, and for large acquirers post-SOX. In the long-run, bidders with high pre-merger pay-for-performance experience 27.6% higher returns after …

Killing Conscience: The Unintended Behavioral Consequences Of "Pay For Performance", Lynn A. Stout

Cornell Law Faculty Publications

Contemporary lawmakers and reformers often argue that ex ante incentive contracts providing for large material rewards are the best and possibly only way to motivate corporate executives and other employees to serve their firms' interests. This Article offers a critique of the "pay for performance" approach. In particular, it explores why, for a variety of mutually reinforcing reasons, workplaces that rely on ex ante incentive contracts suppress unselfish prosocial behavior (conscience) and promote selfishness and opportunism. The end result may not be more efficient, but more uncooperative, unethical, and illegal employee behavior.