Assignment

Anonymous

Question Description

Business Ethics CS link:https://www.scu.edu/ethics/focus-areas/business-ethics/resources/raiding-customer-assets-at-mf-global/

Questions:

Did Corzine act appropriately? How would you characterize his behavior legally, ethically, and managerially? What other choices did he have?

Did Ms. O'Brien behave appropriately? Realistically, what other choices did she have?

Should the actions of either Corzine or O'Brien (or both or neither) be considered criminally negligent? Unethical? Bad judgment? Other?

What role should (or might have) the firm's Ethics and Compliance Officer played in this drama?

Tutor Answer

Kishnewt2017
School: University of Maryland

Attached.

Running head: BUSINESS ETHICS

1

Business Ethics
Name
Institution
Date

BUSINESS ETHICS

2
Introduction

Customer funds go missing at MF Global. Those in charge of the firm cannot say where
the money has disappeared to. Before the firm declares itself bankrupt, a sum of $ 175 million
from the customers’ money is used to pay a debt owed to JP Morgan, which is very wrong and
unethical. It is the responsibility of financial institutions or firms to always ensure that they do
not mix their funds with customer money. It is also wrong for financial institutions to use
customer funds to run their internal operations or even to pay their debts. Tampering with
customer money is a criminal offense according to the 1936 Commodity exchange Act
(Moloney, Lawrence III, & Hamarich, 2010). Instead of abiding by this directive, MF Global
under the watch of Corzine breaks this important requirement. Customer funds should always be
separated from company funds and invested on behalf of the customers. MF Global goes against
all these legal requirements and as a result, it ends up declaring itself bankrupt when it becomes
evident that it can no longer sustain its operations.
Question 1: Managerial, Ethical and Legal...

flag Report DMCA
Review

Anonymous
Good stuff. Would use again.

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors