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Assignment 2 JPMorgan Chase In the summer of 2012, JPMorgan Chase, the biggest U.S. bank, announced

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Assignment 2 JPMorgan Chase
Assignment 2: JPMorgan Chase
In the summer of 2012, JPMorgan Chase, the biggest U.S. bank, announced trading losses from investment
decisions made by its Chief Investment Office (CIO) of $5.8 billion. The Securities and Exchange Commission (SEC)
was provided falsified first quarter reports that concealed this massive loss.
Use the Internet or Strayer databases to research a different bank of your choosing.
Write a three to four (3-4) page paper in which you:
Discuss how administrative agencies like the Securities and Exchange Commission (SEC) or the Commodities
Futures Trading Commission (CFTC) take action in order to be effective in preventing high-risk gambles in securities /
banking, a foundation of the economy.
Determine the elements of a valid contract, and discuss how consumers and banks each have a duty of good faith
and fair dealing in the banking relationship.
Compare and contrast the differences between intentional and negligent tort actions
Discuss the tort action of “Interference with Contractual Relations and Participating in a Breach of Fiduciary duty”
and, if the bank you’ve chosen were to behave as JP Morgan did, would you be able to prevail in such a tort action.
With the advent of mobile banking, discuss how banks have protected the software that allows for online transaction
to occur through automation.
Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and
references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course
title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
Describe the legal environment of business, the sources of American law, and the basis of authority for government
to regulate business.
Describe the elements of a contract and explain the basic provisions of contract law relative to offer, acceptance,
capacity, legality, fraud, third-party rights, performance, and breach of contract.
Explain the components of the Uniform Commercial Code (UCC) relative to sales and lease contracts and the basic
provisions of the UCC addressing sales / lease contracts, title, risk, insurable interests, and the performance and
breach of contracts.
Use technology and information resources to research issues in business law.
Write clearly and concisely about business law using proper writing mechanics.
Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and
writing skills, using the following rubric.
The bank that I have selected for similar activity that has happened in J P Morgan Chase is
“Baring Bank” and it was Nick Leeson who was trader in the Singapore Office of the “Baring
Bank” and made close to $1.40 Billion of Loss for the company and finally the bank had to
close down.
Discuss how administrative agencies like the Securities and Exchange Commission (SEC)
or the Commodities Futures Trading Commission (CFTC) take action in order to be
effective in preventing high-risk gambles in securities / banking, a foundation of the
economy.
Ans: JP Morgan Chases losing $5.8 Billion was so unfortunate and it was because of the mere
decision of the Chief Investing Officer and it also happened that, in the quarter of 2012, the
financial inputs given was manipulated. It was mentioned by the CEO of JP Morgan that, instead

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