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Usb Ethical Considerations.fin

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USB Ethical Considerations
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USB Ethical Considerations
1. This MiniCase details several ethics scandals that occurred at UBS in recent
years. What does that tell you about UBS? (25 Points)
Based on USB’s past ethical issues, we can conclude that the top management
personnel lack integrity and honesty. The management was greedy about increasing
their clientele, and in the process, they assisted the US businesses and prominent
persons to invade taxes. In this case, USB used its privacy policy to hide the identity of
its clients from the IRS, which later resulted in hefty fines. Furthermore, Tom Hayes
manipulated LIBOR to benefit USB, which the management knew and tolerated.
Additionally, Adoboli breached USB’s set daily trading limits, and his seniors were
okay with it. All these deeds led to hefty fines on the company, jailing some of its
employees, bad reputation, and reduced clients and profits. These acts show a lack of
openness and integrity among the USB’s management.
2. Given repeated ethics failures at UBS, who is to blame? The CEO? The board of
directors? The supervising managers? The individuals directly involved? Who
should be held accountable? Is it sufficient just to fine the bank? (75 Points)
CEOs, managers, board of directors, and individual persons are all to blame for
ethical failures at USB. Even though the CEO was not aware of the activities happening
in each department, he was aware of some of the clients in the company from the US and
their facilitated tax evasions. Furthermore, the company’s individuals sent to the US to
find clienteles did not follow the proper procedures put forward by the US governments,
thus responsible for ethics failures.

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1 USB Ethical Considerations Name Institutional Affiliations Course Instructor Date of Submission 2 USB Ethical Considerations 1. This MiniCase details several ethics scandals that occurred at UBS in recent years. What does that tell you about UBS? (25 Points) Based on USB’s past ethical issues, we can conclude that the top management personnel lack integrity and honesty. The management was greedy about increasing their clientele, and in the process, they assisted the US businesses and prominent persons to invade taxes. In this case, USB used its privacy policy to hide the identity of its clients from the IRS, which later resulted in hefty fines. Furthermore, Tom Hayes manipulated LIBOR to benefit USB, which the management knew and tolerated. Additionally, Adoboli breached USB’s set daily trading limits, and his seniors were okay with it. All these deeds led to hefty fines on the company, jailing some of its employees, bad reputation, and reduced clients and profits. These acts show a lack of openness and integrity among the USB’s management. 2. Given repeated ethics failures at UBS, who is to blame? The CEO? The board of directors? The supervising managers? The individuals directly involved? Who should be held accountable? Is it sufficient just to fine the bank? (75 Points) CEOs, managers, board of directors, and individual persons are all to blame for ethical failures at USB. Even though the CEO was not aware of the activities happening in each department, h ...
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