Writing Topics For A Position Essay

Writing Topics For A Position EssayHaving found the right topic for a position essay, it is necessary to write carefully and with exacting attention to detail. And it is worth noting that each topic for a position essay can be quite distinct in its own way, so there are many different variations within a given topic to consider.It may be that your current profession is currently in danger of being dissolved. It could also be that you have been on the job market for some time and have therefore taken you for granted. Maybe you have had to change positions before and want to apply again. Whatever the reason for writing an essay in this manner, the theme should be one that is realistic and reflects your attitude and character.The first thing you need to do is to gather together all your best information about the company or position you are applying for. This includes things like the job description and the job functions. You will need to know the duties and the compensation as well as any career goals you may have.You will also need to develop facts about the position that you are applying for. It might be that you have been interested in the position for several years and now think it is about to be axed or closed down. So you will need to note down your resume for as long as you were interested in the job and then look up information about the company. Try and include anything relating to the job functions as well as the company that you worked for in the past. If you have a family, these facts will also need to be included.The next point that you will need to consider when preparing a resume is the typical job application document. You will need to consider how you want your resume to appear as well as how your application will present your position within the company. You will need to look at other job applications as well. Do notgo too detailed in your essay; this will confuse employers and you may end up with no offers.When writing the essay for the job int erview, you will also need to take into account any prior experiences you may have. This is especially important if you have moved jobs before. For example, if you have been working in a small company for some time, you may be expected to talk about the job for which you have been transferred. It is important to ensure that your employment history reflects well upon your suitability for the position. If you have a good work history but have moved companies, you will need to highlight this fact.Finally, a job interview is just that - an interview. You will need to build your essay around these considerations. The essay can be designed around an employer's request for a proposal or business plan. Writing a good essay is about much more than accuracy and precise wording.

On The Beach Essays - Radiobiology, English-language Films

On The Beach On The Beach In the big city of Melbourne, Australia, material goods have become scarce. There are no cars, and very little of the luxuries that there once were. It takes hours to get simple necessities such as milk. All this is because of the nuclear war in the Northern Hemisphere. This nuclear war has wiped out every living thing, including all humans, throughout countries like China, Europe, and even the United States. It all began with a fight between Russia and China, who wanted to destroy each others land. They managed this with nuclear bombs, and without realizing the consequences, killed off their own people along with everybody else due to the radiation that was left behind. The radiation has killed all forms of life in the Northern Hemisphere so far, and is now steadily approaching the Southern Hemisphere; the only place left on the planet with life. Lieutenant Commander Peter Holmes lives in Melbourne with his wife, Mary and their infant, Jennifer. They, along with everyone else in Australia, have heard and known that the radiation is slowly coming and scientist have predicted that they only have until September before it spreads throughout Australia, killing them all with a slow sickness. This sickness includes symptoms such as nausea, diarrhoea, and trembling. It could take anywhere from three days to three weeks to die, depending on ones resistance in their body. Peter is aware of the short time he has left to live out his life, yet his wife Mary fails to realize that there will be no next year, or next spring. She continues to plan ahead as if she will still be alive years or even months from then. Peter helps to comfort her by allowing her to think this way and buying her things such as flowers for the garden that will not bloom until the next year. Peter is called on assignment in the beginning of the book to go on a cruise aboard the U.S.S. Scorpion, the only submarine left. The goal of this cruise is to see if there is any form of life in the northern cities of Cairns, Port Moresby and Darwin. Any form of life would include birds, plants, animals or vegetation. On this cruise, the crew in unsuccessful in finding any forms of life except one dog roaming around. They go back to the port in Melbourne and are docked for some time. While docked, Peter invites the Commander Dwight Towers to stay with him and his wife for the weekend to go sailing and swimming. Mary decides she wants this to be an adventure for Dwight, and therefore invites her friend Moira Davidson. Moira seems to be different then most girls; very forward and drinks too much, and strong in her beliefs. Yet her and Dwight manage to establish a friendship, which they maintain throughout the book. A few weeks later, another cruise is assigned, both involving Commander Dwight Towers and Peter Holmes. This cruise will be much more difficult and more strenuous. They plan to go up to the United States and around the west coast of Canada to see if they can find the radio signals they have been receiving from where they think is Seattle. The navel officers believe that there must be someone up there running the radio stations to be getting signals. The cruise is planned to take two months, while being submerged underwater for twenty-seven days of those two months. Before Peter leaves for his cruise he wants to make sure that his wife and daughter are taken care of if the radiation were to come quicker then expected and he was not there to help her or be with her. He goes to a nearby chemist for information on what happens to a person when hit with radiation sickness and what to do when it happens. The chemist tells him of all the symptoms and gives him some pills that no one else has been able to get yet. These pills are designed to kill a person peacefully in their sleep, and are meant to be taken when a person knows that they dont want to go on with living through

Relief From Tax Penalties and Interest

Relief From Tax Penalties and Interest The best way to not have to pay tax penalties or interest to the Canada Revenue Agency (CRA) is to file your income tax return on time and to pay your taxes when they are due. However, if exceptional circumstances beyond your control have made it extremely difficult or impossible for you to do that, you can submit a written request to the CRA asking that penalties or interest (not taxes) be canceled or waived. Taxpayer relief provisions in Canadian income tax legislation make a provision for the Minister of National Revenue to grant full or partial relief from penalty or interest payments at his/her discretion, although it is by no means handed out easily. Even if you cant pay your taxes in full, file your income tax return anyway. Before the CRA will even look at an application for relief from penalties or interest, all of your tax returns need to be filed. Deadline for Requesting Taxpayer Penalty or Interest Relief In order to be considered for relief, a request must be made within 10 years from the end of the calendar year in which the tax year or fiscal period at issue ended. Reasons Tax Penalties or Interest May Be Cancelled or Waived The CRA considers four different types of situation when considering relief from tax penalties or interest. Extraordinary Circumstances: These can include disasters, such as a flood or fire which destroyed your tax records; civil disturbances or disruption in services, such as a riot or postal strike; a serious accident or illness; or serious emotional or mental distress such as a death in the family. The circumstances of some divorces could fall into this category also.Actions by the CRA: This category is for delays that were caused primarily by the CRA. Examples are if a taxpayer was not informed within a reasonable time that an amount was owing; if a taxpayer was given incorrect information; and unreasonable and extended delays in the resolution of an objection or an appeal, or in the completion of an audit.Inability to Pay for Financial Hardship: In these situations, financial hardship means that penalties or interest are causing such hardship that the taxpayer cant provide for basic necessities such as food, rent or medical assistance. Another situation might be if tax interest or pen alties are preventing the taxpayer from ever paying taxes owing. This category requires full financial disclosure and extensive and detailed supporting documentation. Taxpayers are expected to borrow money and to sell assets if possible to meet their tax obligations. Other Circumstances: For unique situations not covered by the other categories. How to Submit a Request for Taxpayer Relief The best way to submit your request is to use the form provided by the CRA: RC4288, Request for Taxpayer Relief Be sure to read Information to Assist in Completing this Form on the last page of the form for definitions and guidance. Examples of the supporting documents that are required to support your request are also given in that section. You can also write a letter and send it to the correct address. Clearly, mark TAXPAYER RELIEF on the envelope and on your correspondence. Whether you use the form or write a letter, make sure to include a complete description of the circumstances and your tax information. Make your case in as straightforward, factual and complete a manner as possible. The CRA provides a list of information to include with your request. More on Taxpayer Relief on Penalties and Interest For detailed information on Taxpayer Relief Provisions see the CRA Guide Information Circular: Taxpayer Relief Provisions IC07-1. See Also: Penalties for Filing Your Canadian Income Taxes LateWays to Pay Your Canadian Personal Income Taxes

What has been the impact of World Bank upon development in the south Essay

What has been the impact of World Bank upon development in the south - Essay Example According to the neo-classical economic theory, the financially weak countries should borrow money abroad to finance their investments and requirement. According to CIA (2009), United States has got the highest level of outstanding external debt, which is approximately $13,450 million. United Kingdom being the second and there are few other countries too. So it can be understood that neither the developing nor the developed countries are immune to the finance deficit problems. This context can be better explained through the dual-gap model, which highlights the aspect of motivation for introducing debt in growth model. This model states that there are two gaps, mainly foreign exchange gaps and saving gaps. These two factors might be scarce to support the growth of the developing countries (Daud, and Podivinsky, 2011, p. 2-4). High levels of debt could also adversely affect the economic growth of any country. It can be also related to the debt-overhang theory. According to debt-overhang theory, the expected return of external debt is inadequate compared to the contractual value of debt. The heavy burden of debt on the developing countries drains their investments too and returns get taxed away. Apart from this high debt also negatively affect the investment rates and growth of the country because of huge cash flow and has effects of moral hazards. However, on the opposite side, if external debt is considered at the level of foreign borrowings, then it could have a positive impact on growth and investment of the country. The Laffer curve represents the relation between the investment and the face value of the debt. The expected amount for repayment falls when the level of outstanding debt increases beyond the specified mark. So according to the Laffer curve, the expected payment would reduce with the increa se in the face value of debt (Zawalinska, 2004, p. 5-6). Since the past decades, policymakers and also academicians have taken keen interest in studying, and investigating theories to develop a link between debt and the economic growth of the global economy, but we would consider a few empirical studies to understand the concepts in this study. Abdelmawla-Mohammed (2005) supports the fact that external debt has a negative effect on the economic growth and development. Studies in about 61 developing countries have been conducted and results reveal that high debt can also create negative effects on the physical capital and productivity growth of the country. This study aims at focusing on the Structural Adjustment Programs (SAPs) of the World Bank and the impact of such strategies on the south. We would follow a well-defined framework to evaluate each dimension of external debt, its effects on economic growth, and effect of SAPs on the economic condition of the developing countries. A lso a critical analysis of the negative aspect of SAP of World Bank would be done in this study. World Bank and its Initiative towards Poverty Reduction Richard Peet in his "Unholy

HISTORY OF THE CLAY BRICK Essay Example | Topics and Well Written Essays - 500 words

HISTORY OF THE CLAY BRICK - Essay Example Clay bricks have been in use as building material even before the Roman periods. However  its use  increased in the first four centuries during the Roman rule. This is a one of the outstanding structures of a beehive made out of bricks. Characteristics of bricks Bricks as a building material boast of being versatile due to its very good climatic uniqueness. For most people, it remains the material that is most preferred for constructing most residential houses. In addition, bricks have an excellent fire rating as well as being able weatherproof against extreme weather changes. It also has good auditory properties since it can hold sound within a desired area. Moreover, besides all that it is cheap because it’s worth amounts to about 10 percent of the total charges of a classic residential structure. This low cost and durability of brick buildings make it to be more valued (Kanti, 2008). Brick making in the old days As Harrison (1998) observes, bricks are usually modeled fr om sticky soil known as clay which is  derived from weathered and composed silicates. In early times, brick making was undertaken by small groups of people particularly men who prepared brick by combining water and soil. After casting out bricks from the brick moulds, it was then allowed to loose moisture. Bricks were thereafter placed in a fire furnace that would burn out water content at very high temperatures of between 400 to 1770 degrees Celsius.

Importance Of Organisational Behaviour Business Essay

Importance Of Organisational Behaviour Business Essay Introduction In the current context there are more competitive for the business. Many companies are producing same items to the market with different trademark. They are running their business with a vision. For successful vision achievement they have to achieve their goals. So they are in a position to run their organization better than their competitors. So for the successful organisational environment, they have to satisfy their employees. In the present context, when you are working in the organisation, you may think is this the right organisation for you? In my point the many answers will be No. The main reason for this answer Managers have lack of knowledge about how to manage organisational behaviour. Due to this less knowledge, managers straggling to handle employees problems in a proper way and they are not guiding the employees in a line to achieving organisations goal. Because of this many qualified employees are trying to find a job in other organization where having a high-quality management. If qualified employees leave the organisation, organisations goal achievement result will be negative. So the managers should have jam-packed knowledge about organisational behaviour. In this point you will think what is organisational behaviour? There are many definitions for this but simply can say, for a act getting different responds from different people and the way of reaction between two people in the office situation. So good manager will observe this and he could identify that who is proficient and who wants to get more knowledge. If the employee satisfied with his job, they will be more productive and their respond also will be satisfied. For example, if manager employed who is a young, shy and softly spoken girl, manager cannot put her in the role of marketing. Instead, manager can place her in a low stress position that would suit her nature. So the organisational behaviour is not just about keeping employees happy. It is about placing staff in a position that suits their personality and experience as well as helping employees to nurture in a way that they become more of an asset to the business. Literature revive Organisational behaviour is an inevitable process in the organisations. The organisations goals are achieving by their managers, so they should run the organisation effectively. Here we are analysing some important organisational behaviours which knowledge helps to managers. In the organisational environment, all behaviours are interconnected. Manager has to identify the employees behaviour and he has to make the link with other behaviours to effectively run the organisation. For an example if a person who is working efficiently in the marketing field with an extraversion personality, we need to motivate him as well as we have to make a job satisfaction for him. So here personality, motivation and job satisfaction behaviours are interconnected. Here I am analysing some important organisational behaviour about what is behaviour? How these behaviours will help to the managers for decision making? What are the theories has to consider when decision making? Etc. So this will helps to the managers who are having lack of knowledge about organisational behaviour. Organisational Behaviour importance of todays context Personality What is personality? Until now there is no any agreement on the exact meaning of personality. But there are many ways to describe the personality (i.e strong, weak or polite). My description about personality is The kind of ability which people having. All people they are not having equal mentality, person to person it will differ. So when manager while working with them, he/she can identify their personality and he/she can categorize them with Big Five personality traits. If manager assign a job to a person in inside the office who is having more extraversion, his all talents are shrinking inside the office and he/she wont get effective result from him. But if manager assign him as a marketing person, he/she will get more effective and efficient result from him. 3.2 Motivation Motivation is the process to encourage the employee to work effectively to achieve the organisational goal. Manager has to identify the system to motivate his/her employees. Without an appropriate technique manager cannot satisfy each and every employee. So initially manager has to identify the needs and based on that needs he/she can motivate the employee by provide incentives. There are many theories from many researchers to identify the needs. But Maslows hierarchy of need theory and Herzbergs two factor theories are mostly consider by decision makers. Motivational system can be identified by categorize the employees needs under these theories. For an example if an employee has a need for job security, manager can motivate him by giving long term contract, job related training programme etc. 3.3 Job Satisfaction What is job satisfaction? How manager can satisfy the employee? Simply can say that getting positive result from the one employees job appraisal or job experience, job satisfaction is one of the important attitude. In the job satisfaction many internal factors will influence like the work itself, Payment, Promotion opportunities, Supervision and Co-workers, but in the meanwhile some external factors also influencing. For an example one person is working in the developed area with all internal external facilities. But suddenly management has transferred him to the remote area with same job, where is no external facilities like his previous worked area (travelling facilities, good food etc). When they observed his performance after transfer, it was lesser than previous. So manager has to take action to enhance satisfaction for an example Make jobs more fun, have fair pay, design jobs to make them satisfying and providing office transportation or allowance. Leadership As we discussed earlier, the different personalities are working in organization. There should have monitoring and controlling between staff, so they need a proper leadership. How manager can find correct leadership? What kind of characteristics he/she should have? This type of questions will arise before assign the leader. There are many definitions for leadership. According to Useem, leadership is a matter of making a difference. It entails changing an organisation and making active choices among plausible alternatives, and depends on the development of others and mobilising them to get the job done. Manager can ask a question why managers cant be a leader? As per Watsons 7-S organizational framework he suggests that whereas managers tend towards reliance on strategy, structure, and systems, leaders have an inherent inclination for utilisation of the soft Ss of style, staff, skills, and shared goals. Also manager can see the different characteristic between Manager and Leader as fo llows. Manager Leader Administers Innovates A copy An original Maintains Develops Focus on systems and structure Focuses on people Relies on control Inspires trust Short-range view Long-range perspective Asks how and when Asks what and why Eye on the bottom line Eye on the horizon Imitates Originates Accepts the status quo Challenges the status quo Classic good soldier Own person Does things right Does the right things When manager intend to recruit or position a leader, he/she should identify above characteristic from that employee. Leadership style There are different styles are following by leaders among their group. Autocratic This style is dominating the staff by his decision. Democratic This style is making decision among consult with others. Laissez-Faire This style is following the systems as it is. It will helps to the managers to identify the correct leader style to the appropriate group. Group Behaviour Group behaviour is two or more individuals, interrelating and co-dependent, who have come together to achieve particular goals. Group behaviour starts from the beginnings that contribute to the groups efficiencies. So manager should know why group behaviour is important? How groups are working? How to develop the groups? What are the characteristics groups should have? While working in the group, employee can reduce the insecurity of standing alone, recognition and status will be provided by others to the group members, possibilities are in the group for achievement which could not achieve as an individual, goal achievement period will be less. Group development Forming : characterized by uncertainly. Storming : characterized by intergroup Norming : characterized by close relationships and cohesiveness Performing : when is fully functional Adjourning : This presents the end of the group, characterized by concern with wrapping up activities rather than task performance. Based on above structure if manager form the group, the behaviour of the group will be efficacy for organisations goal achievement. Training Development Manager is the responsible person to get more work from employees. From the above examples he/she can come across that someone capable someone incapable to handle specific job. So manager has to make everyone as capable workers. What is training programme? How can do this? What are the better ways to conducting training programmes to staff? This type of questions will arise from manager. There are many definitions for training. Steinmez said Training is a short-term process utilizing a systematic and organized procedure by which non-managerial personnel learn technical knowledge and skill and David de Cenzo and S.P. Robbins said Training involves changing of skills, knowledge, attitude or social behaviour (Nirmal Singh, HRM, p404). Before go for a training, manager has to identify the lacking part of employee. There are certain steps to discover the training needs Analysing Jobs and Men: if the men are less capable to perform the particular jobs they can be given training to increase their skills. Collecting Employees and Managerial Opinions: The training section may either by interviews or questionnaires obtain views of different people regarding necessary and desirable training programmes. Anticipating Requirements of Different Jobs: As a manager, you can forecast earlier the manpower requirement on the basis of long-term plans such as business expansion, new technology etc. Training may be given to the existing employees to enable them to meet the requirements of new jobs in the future. Once manager identify the needs, he/she has to plan the training methods. The training programmes should conducted by well trained trainers. Development is the process of transition of an employee from a lower level of ability, skill and knowledge to that of higher level. This transition is influenced by education, training, work experience and environment. Developments are mostly considered for the managerial level staff. Change Management In every organisation change is inevitable and unavoidable. The organisation which fails to change is sure to fail, because change is required to maintain stability to some extent in the functioning of organisation. The managers always keen on these changes. There are two main forces will involve in changes. Internal forces: These forces may either be derived from the change in external environment or may be because of management induced forces. Internal forces mainly include the following: Top management and its philosophy and corporate policy. Retirement, promotion, resignation and transfer of key functionaries of the organisation. Change is the perception, attitude, feelings, beliefs and expectations of the employees working in the organisation. Change is internal environment of the organisation. External forces: These forces include all factors of external environment which directly or indirectly affect the functioning of an organisation. Some of them are as under. Socio Culture: Education, population dynamics, rate of urbanisation, social traditions and customs will force the organisation for changes. Economic: It will includes the demand, competition, price mechanism, buying capacity, distribution of income, cost and quality and availability of various resources. Political and Legal: In the political level major opposition party, political stability, morality and values will force the organisation. Technology: In the technology level new techniques of production, innovation of new process etc. Will force the organisation. Work environment: in this environment customer loyalty, supplier regularity, community attitude and recognition of society will force the organisation Once manager identified the factors for changes, he/she should plan to make changes. There are few steps to be followed to make changes. Step 1 Preparing for change  (Preparation, assessment and strategy development) Step 2 Managing change  (Detailed planning and change management implementation) Reinforcing change Collect and analyze feedback Diagnose gaps and manage resistance Implement corrective actions and celebrate successes Preparing for change Identify change management Strategy Arrange change management Team Develop sponsorship model Managing change Develop change management plan Implement plansStep 3 Reinforcing change  (Data gathering, corrective action and recognition) Conclusion. Above organisational behaviour analysis exposed that how organisational behaviours knowledge is very important to manage the organisation. Each and every behaviours are important because they are inter-connected with each one. If group behaviours are not satisfied, they can go for a training programme. As well as if Leadership style changed, we can identify the lacking part for change and based on that can be motivated or making job satisfaction. Like this all behaviours are linked with other. So when organisation is planned to place a manager, they need to test their behaviour knowledge. So I hope that above my analysis will help to the managers, who are having poor knowledge about organisational behaviour. 5. References http://www.flatworldknowledge.com/node/34687#web-34687 http://www.pateo.com/article6.html http://cgda.nic.in/rt/rtcblr/website/Training%20Material/H%20R%20D/Motivation.htm http://www.coaching-for-new-women-managers.com/job-satisfaction.html Group Behaviour Model  (PIC) http://www.management-hub.com/change-management.html http://www.change-management.com/tutorial-change-process-detailed.htm http://www.ehow.com/how_2076444_identify-employee-training-needs.html#ixzz1BXP7leoM

Ethics and Laws governing insider trading Essay

Insider trading remains a controversial issue in the American public domain. Most individuals perceive the practice as being illegal. However, insider trading can both be legal and illegal practice. The provisions of the American law dictate that any form of insider trading should be reported to the U. S. Securities and Exchange Commission (SEC) to make it legal (Miller & Jentz, 2009). This has the implication that the transaction is not kept a secret for access by the general public. On the other hand, insider trading is termed illegal if the transaction is based on information that is not accessible to public. Indeed, it is not only illegal to trade one’s company in the stock market based on non-public information but even to give another person the information enabling them to trade their stock (Miller & Jentz, 2009). This paper seeks to identify the ethical and legal aspects of insider trading practices in the business world. In particular, the author gives an argument is support of the claim that imposing measures to control insider trading is crucial in protecting the economic interest of public investors. Definition of insider trading Insider trading is defined as the act of trading the securities (stock or bonds) of a corporation by members with reliable access to non-public information on the given organization (Miller & Jentz, 2009). Such individual might include but not limited to employees, directors, and major shareholders in the company as well as other officers. The practice of insider trading is termed as non-illegal if the transactions are not executed based on the individual’s knowledge to non-public information about the company (Miller & Jentz, 2009). Nevertheless, the term commonly refers to actions in which the parties involve engage in breach of trust and confidentiality of non-public information. As an example, insider trading can involve trading of stock based on information such as profit results or takeover of an organization before such information is made public (Miller & Jentz, 2009). Another example is were an individual, having prior information of a large order in the stock, trades on such before the order is executed leading to a potential price impact. Ethics governing insider trading There are numerous ethical implications associated with insider trading. First, insider trading practices are perceived as a potential distortion of stock markets. Investor confidence and trust is one of the most crucial elements in determining the long-term sustainability of any economy (Brenkert & Beauchamp, 2009). This is because to ensures the continuous flow of investment capital by members of the community. On the contrary, insider trading serves the ultimate purpose of compromising the confidence of the investors by risking risk price impacts on their stock. Based on this reasoning, insider is a contradiction to the policies protecting small scale investments through securities in our nation. It is worth noting that insiders and any other third parties involved are usually influential members to the company or in the community, leaving small scale investors vulnerable. Another ethical issue of concern in insider trading is the question of unfair competition (Brenkert & Beauchamp, 2009). Insider trading involves individuals taking advantage of non-public information of a company to execute stock trading practices. According to its definition, the practice does not only involve corporation officials, employees, and large stakeholders but even third party members with access of such information. This has the implication that other investors with stocks on the corporation suffer the disadvantage of transacting their stocks and bonds long after insiders have made them. Such is ethically wrong as it deprives investors of their right to equal opportunity in the stock exchange market. Insider trading has the ultimate potential of leading to the collapsing of an investment. Insider trading has witnessed the downfall of many strong public corporations in the United States. Good examples of this are the 2002 collapsing of Enron and WorldCom corporations due to irregular trading of their stocks in the securities exchange. According available evidence linked with the collapsing of Enron and WorldCom corporations, it is quite evident that the companies engaged in financial scandals involving misrepresentation of their financial statements to influence their stand at the stock market. This misappropriation of information as is the case with insiders thus risks falling of organizations. In addition, insider trading is a source of liability to the parties involved. The principles of ethical business practices dictate for mitigation of liabilities by members of an organization. On the other hand, the underlying laws of our nation seek to prosecute perpetuators of unethical practices in the investment world (Brenkert & Beauchamp, 2009). This is in purpose aimed at safeguarding capital investments and protecting investor confidence. In line with this, insider trading risk tarnishing the reputation of an organization as well as its employees. This ethical issue can be emphasized by the legal case costs and other liabilities that have been incurred by former top officials of the WorldCom and Enron Corporations. Laws governing insider trading Insider trading practices can both be legal and illegal depending on the provisions of the existing laws in the American nation. According to the available laws, legal insider trading should be qualified through SEC fillings which serve to make the proceedings public. There are three legal provisions governing insider trading in America namely: 1) common law; 2) SEC regulations; and 3) US Supreme Court decisions. †¢ Common law Insider trading conducted without disclosure in inside information to the SEC is legally regarded as fraud under the American common law. The 1933 Securities Act prohibits fraud in the sale of securities under its provision in section 17 (Miller & Jentz, 2009). These provisions are further strengthened by the Securities Exchange Act of 1934. Under section 16(b) of this act, it is a crime for company officials, directors, employees, and stockholders owning more than 10% of the company shares to enjoy short-swing profits through transactions in the SEC within a period of six months (Miller & Jentz, 2009). In addition, fraud activities during securities trading are prohibited under section 10(b) of the Securities Exchange Act of 1934. Other common law governing insider trading are the Insider Trading Sanctions Act of 1984 and the Insider Trading and Securities Fraud Enforcement Act of 1988 (Miller & Jentz, 2009). These two acts are instrumental in mitigating illegal insider trading activities in the stock exchange market. The laws impose penalties of up to three times any profits gained through illegal insider trading. Just to be appreciated is the fact that such amount of fine is equally applicable for any losses that were avoided through illegal trading (Miller & Jentz, 2009). Moreover, the laws also provides for potential banning of companies involved in illegal trading depending on the level of such activities. The collapsing of major American public corporations such as Enron, WorldCom, and squeaky clean Martha Stewart prompted the enactment of the Sarbanes-Oxley Act of 2002. The act seeks to establish a streamlined framework for mitigating financial scandals both by auditing firms as well as in the proceedings of the SEC (Miller & Jentz, 2009). By dictating for the formation of Public Company Accounting Oversight Board (PCAOB) which dictates qualification of auditors; such are no doubt crucial in ensuring sanity in the accounting profession. In addition, this act makes it mandatory for the SEC to qualify financial statements from corporations enlisted in the stock market. †¢ SEC regulations Insider trading is governed by a number of provisions of the SEC rules and regulation. In its fair disclosure requirements, the SEC dictates that a company is bound by the law to disclosure non-public information to the public in the event it happens to do so intentionally to an individual (Macey, 1991). If such disclosures were not intentional, the organization should communicate the same to the general public. Another important rule on insider trading is defined in SEC Rule 10b5-1. According to this rule, prohibition against insider trading should not only be based on whether non-public information was used during the trade, but even mere possession of such information amounts to a violation of the rule. The provisions of Williams Act of 1968 on takeovers and tender offers also give the SEC powers to regulate insider trading. By definition, the Williams Act is an amendment to the 1934 Securities and Exchange Act. The Act dictates for mandatory full and fair disclosure of information involving tender offers (Macey, 1991). According to its provisions, if a company seeks to acquire or control another through securities, such intentions should be communicated to SEC through fillings and in written to the company to be acquired. The aim of this law is to ensure fair benefiting of the stakeholders as well as allowing the management equal opportunity to make any defense case in a fair manner. In addition, the Williams Act requires that an individual wishing to offer cash tender of 15 to 20 percent of the current market price to acquire a corporation must registered under federal law to disclose to the federal Securities and Exchange Commission (SEC). Such disclosures include; source of the money to be used in the offer, existing contractual agreements with the corporation to be purchased, intention of the purchase, and the plans to be implemented upon the successful completion of the tender offer (Miller & Jentz, 2009). Moreover, disclosures with SEC by an individual wishing to purchase 5 percent of a given corporation should be copied to all national securities exchanges were such stocks are traded to make sure that the information is accessible to investors. Under this law, SEC enjoys legal authority to take legal action against persons acting in violation of the provisions. This includes the use of falsified and misleading statements to gain unfair competition in tender offers. †¢ Court decisions The US Supreme Court has made numerous landmark case decisions regarding insider trading. During the 1909 case of Strong v. Repide, the court ruled that directors are not bound by the law to provide their knowledge to stakeholders about their actions in buying shares from the company (Macey, 1991). However, in the 1984 case of Dirks v. SEC, the Supreme Court found that third party insiders should be held liable for engaging in illegal insider trading provided it is established that they had reasonable belief that the provider of the information had breached a fiduciary duty in the process (Macey, 1991). Such are also applicable if the tipper is found to have gained personal benefits from the receiver upon disclosure the confidential company information. Further, the ruling in the Dirks v. SEC case led to the establishment of the concept of constructive insiders. According to the court, constructive insiders include members who gain access to non-public information from a corporation while providing it with services. Such include; lawyers and bankers among other. The court held that constructive insiders are liable of violations of insider trading since their duties dictate against disclosure of their client’s confidential information. Another landmark case regarding insider trading is the United States v. Carpenter case of 1986 in which the Supreme Court upheld the concept of misappropriation of information as an insider trading violation (Miller & Jentz, 2009). From the facts of the case, the defendant was conviction for insider trading violations after acquiring non-public information from a journalist. This court argued that acquisition of information through a confidential relationship with another individual amount to a breach of fiduciary and the individual must account for any benefits gained from the information. The theory of misappropriation was further applied by the Supreme Court in the 1997 United States v. O’Hagan case. During this case, O’Hagan was convicted with violation of insider trading provisions. Working at in a law firm representing Grand Metropolitan O’Hagan gained confidential information about the company’s plan offer a tender to Pillsbury Co. he used this information to buy call options on Pillsbury stock, an act that brought him a profit of $4 million. O’Hagan was convicted with fraud. The court argued that O’Hagan had committed fraud for using confidential information to benefit him in the securities trade, a move that breached the duty owed to the information source (Miller & Jentz, 2009). Conclusion It is established that insider trading has numerous ethical implications. The practice is a major source of unfair competition in the securities trading business. This is because it gives competitive advantage to influential members of the corporation in terms of profitable stock trading through access of non-public information about the company. On the other hand, insider trading can be a source of liability for the perpetuators. Such can be evident from the provisions of the Insider Trading Sanctions Act of 1984 and the Insider Trading and Securities Fraud Enforcement Act of 1988 which dictates for penalties of up to three times any benefits gained from illegal insider trading. Still established during the research is that insider trading in the American nation is governed by common laws, SEC rules, and numerous court statutes. Under the common law is the provision of the Securities Exchange Act of 1934, it is a crime for company officials, directors, employees, and stockholders owning more than 10% of the company shares to enjoy short-swing profits through transactions in the SEC within a period of six months. This law also prohibits fraud. The Williams act on the other side gives the SEC authority to prosecute individuals and companies for insider trading violations. All in all, given that insider trading potentially distorts the stock market, imposing measures to control insider trading is crucial in protecting the economic interest of public investors. References Miller, R. L. & Jentz, G. A. (2009). Fundamentals of Business Law: Summarized Cases. 8th Ed. Chicago: Cengage Learning. Macey, R. J. (1991). Insider trading: economics, politics, and policy. Washington, D. C. : American Enterprise Institute. Brenkert, G. G. & Beauchamp, T. L. (2009). The Oxford Handbook of Business Ethics. New York: Oxford University Press US.