The Daiwa Bank Scandal
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The Daiwa Bank Scandal
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Author : Kristina Bodil de Vere Stevens
language : en
Publisher:
Release Date : 1996
The Daiwa Bank Scandal written by Kristina Bodil de Vere Stevens and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Banking law categories.
Shareholders Action And Director S Responsibility In Japan
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Author : Mitsuru Misawa
language : en
Publisher:
Release Date : 2008
Shareholders Action And Director S Responsibility In Japan written by Mitsuru Misawa and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
The New York Daiwa Bank scandal in 1995, which involved Daiwa Bank's concealment of the $ 1.1 billion in losses from the illegal funding of U.S. Treasury bonds, resulted in the most severe economic penalties ever imposed by the United States on Japan. In that sense, the fact that, while the particular New York branch had been audited by an auditing company, inspected by both the Japanese and U.S. banking supervisory authorities, and had been subjected to internal auditing by the bank's internal American auditor, it was never demonstrated that there was any deficiency in the method of storage balance confirmation. Furthermore, the Bank and its directors may have been responsible for the disclosure of important information under the Securities and Exchange Law of Japan, as Daiwa Bank's stock was traded on Japan's stock market.The minority rule states that the insider (officers, directors, and majority shareholders owning more than 10% of the stocks) of a company is construed to have a fiduciary relation with a stockholder in a stock trading so that the former has to make a complete disclosure on all important matters. While numerous investors, in addition to Asahi Seimei, must have brought Daiwa Bank's stock prior to the disclosure of the incident and incurred damage due to the price drop of the stocks, there is no legal remedy based on the Securities and Exchange Law of Japan.
The Daiwa Bank Problems
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Author : Dick K Nanto
language : en
Publisher:
Release Date : 1995
The Daiwa Bank Problems written by Dick K Nanto and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with categories.
On November 2, 1995, U.S. banking authorities ordered the Daiwa Bank to close its banking operations in the United States, and a 24-count criminal indictment was issued against it. These actions stem from the bank's admission that Toshihide Iguchi, a rogue trader at its New York branch office, had incurred $1.1 billion in losses over eleven years from trading U.S. Treasury securities and that Daiwa managers had "directed that those losses be concealed" from U.S. regulators.
Investigation And Oversight Of Daiwa Bank And Daiwa Trust Company
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Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
language : en
Publisher:
Release Date : 1996
Investigation And Oversight Of Daiwa Bank And Daiwa Trust Company written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
Foreign Bank Supervision And The Daiwa Bank
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Author : United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Financial Institutions and Consumer Credit
language : en
Publisher:
Release Date : 1996
Foreign Bank Supervision And The Daiwa Bank written by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Financial Institutions and Consumer Credit and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
The Daiwa Bank Fruad
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Author : Abu Hurairah
language : en
Publisher:
Release Date : 1995
The Daiwa Bank Fruad written by Abu Hurairah and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Banks and banking categories.
Investigation And Oversight Of Daiwa Bank And Daiwa Trust Company
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Author : United States. Congress. Senate Affairs
language : en
Publisher: Hardpress Publishing
Release Date : 2013-12
Investigation And Oversight Of Daiwa Bank And Daiwa Trust Company written by United States. Congress. Senate Affairs and has been published by Hardpress Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12 with categories.
Unlike some other reproductions of classic texts (1) We have not used OCR(Optical Character Recognition), as this leads to bad quality books with introduced typos. (2) In books where there are images such as portraits, maps, sketches etc We have endeavoured to keep the quality of these images, so they represent accurately the original artefact. Although occasionally there may be certain imperfections with these old texts, we feel they deserve to be made available for future generations to enjoy.
Foreign Bank Supervision And The Daiwa Bank
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Author : United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Financial Institutions and Consumer Credit
language : en
Publisher:
Release Date : 1996
Foreign Bank Supervision And The Daiwa Bank written by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Financial Institutions and Consumer Credit and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
Reconsidering The Importance Of Law In Japanese Corporate Governance
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Author : Bruce E. Aronson
language : en
Publisher:
Release Date : 2008
Reconsidering The Importance Of Law In Japanese Corporate Governance written by Bruce E. Aronson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
This article contributes to a reassessment of the role of law in Japanese corporate governance by focusing on the landmark Daiwa Bank shareholder derivative case. In September 2000 the Osaka district court ordered 11 current and former directors of Daiwa Bank to pay a record $775 million in damages in two cases related to the bank's well-known trading loss scandal of 1995. The court's ruling dismissed the bank's informal consultations with the government and emphasized the legal fiduciary duties of board members. The resulting "Daiwa shock" had a far-reaching effect in Japan similar to the combined impact in the U.S. of the leading Delaware cases of Van Gorkom and Caremark. The aftermath includes important substantive legal doctrine, a seemingly more activist role for courts, the increased importance of preventive legal advice, a breakdown in the market for directors' liability insurance and new legislation to limit directors' liability and address issues of corporate governance. Despite the attention-grabbing drama of the Daiwa case, this study finds important antecedents to the Daiwa decision and its aftermath. It views the court's decision as accelerating and expanding a poorly recognized underlying trend in the 1990's which saw a gradually increasing role for the formal legal system in Japanese corporate governance. It also suggests that the literature on convergence theory, with its utilization of simplified, static models of corporate governance, may be of less value in understanding the process of change in Japan than traditional notions of legal borrowing. It concludes that the popular model of Japanese corporate governance, with its assumption of a strong Japanese preference for informality over law, must be reconsidered in order to account for the increasing importance of the role of law in Japanese corporate governance.
Encyclopedia Of White Collar Corporate Crime
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Author : Lawrence M. Salinger
language : en
Publisher: SAGE
Release Date : 2005
Encyclopedia Of White Collar Corporate Crime written by Lawrence M. Salinger and has been published by SAGE this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
In a thorough reappraisal of the white-collar and corporate crime scene, this Second Edition builds on the first edition to complete the criminal narrative in an outstanding reference resource.