CH45-52 - CHAI’TER 45 m Securities Reguiaticn Securities...

Info iconThis preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 6
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 8
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: CHAI’TER 45 m Securities Reguiaticn Securities : evidence ofmmcrshipfindebzcéncss Securities Act of 1933 — requires registration of securities offerings Securities Exchange Act 0f I934 urequires disclosures of material information SEC (Securities and Exchange Commission) m administers 1933 and 1934 Acts CHAPTER 47 — Administrative Agencies Administrative agencies created by legislative branch Adminisiration Procedure Act v standardize federal agency procedures Federal Government Executive agencies - heads serve at pleasure of president Independent agencies w usuaiiy headed by board or commission whose members are appointed by president with advice and consent of Senate m removed only for cause w appointed for fixed terms. Investigative Power —subpoena; etc. Ruiemaking Power u procedurai rules « interpretive rules ~ iegisiative ruies Adjadicatory Power — ALI m administrative iaw judge Control over Administrative Agencies 0 President 2 appoints agency heads, members, etc. o Congress 2 creates and can thus dissolve administrative agencies / Senate approves some presidential appointments - Judiciai Review m the power of the Courts to review actions of administrative agencies io ensure such actions are iegai Freedom of Information Act - enahies citizens to obtain access to documents in governments possession Government in the Sunshine Act of 1976 ~ requires government meeiings be opened to public (with Some limited exceptions} i’rivaey Aei of 1974 w aiiows individnais {o inapeer files the: agencies mainiain on their: CHAPTER #8 The Federal Trade Commission Act and Consumer Protection Laws Federal Trace Commission gFTC; — independent agency ~ 5 commissioners/ appointed by President and confirmed by Senate! staggered 7 year termsf President designates Chairman u mission 3 to keep economy free (free market") and fair ~ section 5 allOWS Commission to prevent unfair competition and unfairfdecoptivc acts - also enforces other federal acts u can facilitate voluntary compliance ~ can issue trade regulation rules - can commence adg’udicativc proceedings CONSUMER PROTECTION LAWS Telemarketing Act ~ must disclose to customer before payment (total costz’refund procedures) - cannot misrepresant information ~ cannot engage in abusive procedures ~harassment wcall only between 8am w 5 pm Magnuson — Moss Warranty Act -» most label mitten warranties full or limited ~ must provide copy of warranty Truth in Lending Act » Requires disclosures regarding credit l} {loco-end credit initial Statement periodic statements 2) Closedmencl credit see list pg. ll}??? 3'} Credit cant applécatioegfsolicitations max iiobilitv unauthorizecl me of credit cm‘é : $58 Fair Credit Regorting Act - cannot use obsolete information (greater than ’7 yearsf greater than 10 years if bankruptcy) - user of credit report must disclose if it rejects an applicant or charges a higher rate because of information in credit report 0 individual can dispute information on credit report 0 inaccuratefunverifiabie infomation must be deleted 0 individual can also file statement explainingi'comesting item on credit report and this siatemcni‘ is {‘0 be included on fiiture reports Egual Credit 0;}. Qor’mnim Act ~ prohibits credit discrimination on base of sex: marital status, age, race, color, nafiorial origin, religion, and obtaining income from public assistance - not limited to consumer credit - businessfcommerciai loans also covered Fair Debt Collection Practices Act » regulates debt collectors - mandatory disclosures musi be given to consumers when attempting to collect debt ~ forbids certain o'ractices ~ can only coil debtor between 8 am and 9 pm - may communicate only with debiors attorney when debtor represented by counsel Ex) CHAPTER 49 ~ The Sherman Act Sherman Act w outlaws monopolization and agreements in restraint of trade 0 passed utilizing the commerce clause o Fatima} govermnent (Department of Justice) may initiate civil litigation and/or criminal prosecutions - Criminal prosecutions ~— government must prove anticompetitive effect m criminal intent - private individuals may recover trebie- damages and attorney fees — must have standing (direct antitrust injury) § 1 w Restraints of Trade - concerted action (ioth action) ex, Horizontal price fixing Vertical price fixing (manufacturers controliing resale price w suggested retail price ok) Tying Agreements — seiler refuses to seli a buyer a certain product (tying product) untess buyer also agrees to purchase a different product (tied product) from seiler 1. must be 2 separate/’distinct items 2. tying product cannot be purchased without tied product 3. seller has sufficient economic power in market for tying product to restrain competition in tied product 4. “not insubstantial” amount of commerce in tied product is affected by seiier’s tying agreements § 2 w Monopoiization — prohibits monopolization (not monopolies) - must show intent to monopoiize CHAPTER 5t) Ciavton Act « Federal iaw § 3 « cannot leasefseil commodities or fix priCe for commociities on condition that iesseeflauyer will not use commodities of competition if effect Wili be to substantiain iimit competition or create a monopoly - targets tying agreements and exciusive decing agreements § 7 -— prohibits one party in commerce from acquiring assets/stock of another such party if effect is to substantially iessen competition of tend to create a monopoiy must determine line of commerce and section of country horizontai mergers (competing firms) receive rnost scrutiny look at market share of resuiting firm § 8 — prohibits individual from serving as director of 2 or more competitors if either has capitalfsurplus/profit greater than $10 million Robinson» Patman Act - prohibits local/territorial price discrimination by sellers (primary level price discrimination) ~ prohibits secondary level price discrimination — selling to competitors at different prices CHAPTER 51 m Empioyment Law Emplovment at Wiil w the employer f employee relationship exists at the agreement of the parties m can be terminated at any time for any reason indiana is an empioyment at will state Worker’s Compensation m state ans that compensate employees for injuries sustained on the job FEDERAL EMPLOYMENT LAWS FLSA m Fair Labor Standards Act a establishes minimum wage and overtime provisions FMLA —— Family and Medical Leave Act an guarantees employees up to 12 weeks of unpaid leave per year for the foliowing: 0 Serious illness of the employee 0 Serious iilriess of the spouse, parent or ehiid ofthe employee a Birth or adeption of a child by the employee ADA w Americans with Disabilities Act w prohibits discrimination in the workplace against those with disahiiities ADEA — Age Discrimination in Employment Act - prohibits discrimination in the workpiece against those age 40 or over Title VII —» Civil Rights Act « prohibits discrimination in. the workpiaee against an individuai on the. basis of race, eoior, religion, sex or national. origin CHAPTER 52 w Environmental Regulation EPA 3 Environmental Protection Agency ~ created in E9170 $33? US Congress u Independent Agency National Environmental Policy Act (1979) - requires environmental impact statement for federal action Clean Air Act - sets air quality standards now deals with acid raém’toxic air pollutantsfurban smog problems 1.990 Amendments allow companies to sell their allowances to others who cannot meet standards Clean Water Act States have primary responsibility for preventing/redueing/eliminating water pollution requires permits for activity in wetlands connected to waters of US EPA regulates hazardous wastefunderground storage tanksisolid wastefchemicals RCRA -~ Resource Conservation and Recovery Act (1976) amended in 1984 allows federal govemment and states to regulate facilities that generate, treat, store, or dispose of hazardous waste CERCLA w Comprehensive Environmental Response, Compensatiom and Liability Act (i980) (Superfund) allows EPA to clean up or order clean up otidentified sites ...
View Full Document

This note was uploaded on 02/23/2010 for the course BUS L303 taught by Professor Rabe during the Spring '10 term at Indiana East.

Page1 / 8

CH45-52 - CHAI’TER 45 m Securities Reguiaticn Securities...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online