FINANCIAL REGULATION AND SUPERVISION PROFESSIONAL ENGLISH IN USE FOR FINANCE

 

PROFESSIONAL ENGLISH IN USE FOR FINANCE 42. FINANCIAL REGULATION AND SUPERVISION

 

A Government regulation Mei Lee is the compliance officer at a large US bank with subsidiaries in major financial centres; she has to make sure that everybody obeys government regulations and follows internal procedures. B Internal controls ‘I have to make sure no one here does any consider trading or dealing – buying or selling securities when they have confidential or secret information about them. For example our mergers and acquisitions department often has advance information about takeovers. C Sarbanes-Oxley ‘Because of lots of serious conflicts of interest in banks, the US government passed the Sarbanes-Oxley Act in 2002. This requires research analysts to disclose whether they hold any securities in a company they write a research report about, and whether they have been paid by the company. EXERCISES 42.1 Match the words in the box with the definitions below. Look at A, B and C opposite to help you. compliance disclosure fraudulent insider dealing money laundering price-sensitive oversee   1 adjective meaning able to influence or change a price 2 behaving according to regulations, rules, policies, procedures, etc. 3 buying or selling stocks when you have confidential information about a company 42.2 Match the two parts of the sentences. Look at B and C to help you 1 Criminal organizations try to hide the origin of illegally received money. 2 People with privileged, confidential information about a stock could make money. 3 Some banks might try to get business from companies, e.g. issuing stocks and bonds. 42.3 Complete the newspaper headlines with words from the box. Look at A, B and C opposite to help you Chinese walls compliance officer conflicts of interest deregulation insider traders laundering money 1 FSA warns that criminal gangs are still ________through bureaux de change. 2 Sarbanes-Oxley has greatly reduced ________ for auditing firms, report says. 3 Senator says even the smallest financial company needs a ________.

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