Академический Документы
Профессиональный Документы
Культура Документы
http://en.wikipedia.org/wiki/Insider_trading
http://www1.nyse.com/pdfs/bhattacharya.pdf
3
Thompson, J. 2014, A Global Comparison of Insider Trading Regulations. International Journal of Accounting
and Financial Reporting. ISSN 2162-3082, 2013, Vol. 3, No. 1
http://www.macrothink.org/journal/index.php/ijafr/article/viewFile/3269/2976
4
See: http://www.abc.net.au/news/2015-03-17/pair-sentenced-over-abs-insider-trading/6324526 and the
links at the bottom of the page. Also, see
http://www.smh.com.au/business/banking-and-finance/insider-trading-masterminds-lukas-kamaychristopher-hill-jailed-after-block-bid-20150317-1m0tzu.html
5
Australian Bankers Code: http://www.bankers.asn.au/industry-standards/ABAs-code-of-banking-practice
Commonwealth
Bank
Code:
https://www.commbank.com.au/about-us/customercommitment/practices/codes-of-conduct.html
6
See: http://www.fidelisinstitute.org/article.php?se=13&ca=22
2
the financing and support of totalitarian regimes or unscrupulous firms, or firms that leave a large
ecological footprint.
Discussion Questions:
1. Explain what actually happened with Kamay and Hill and why it was insider trading.
2. Do you think that Kamay and Hill should have been sent to jail? What would have been a
reasonable punishment for their crimes?
3. Yes, they committed a crime under law, but was it just their fault? The firms they worked
for should have taken greater responsibility to prevent these crimes being committed in the
first place. After all, this type of trading behaviour is actually encouraged in banks. The only
difference is these two tried to make money for themselves not their institutions! Had they
just made money for their institutions no one would have said anything. Do you agree?
What should the firms they worked for have done or done better?
4. We will be discussing industry and firm codes of conduct later, but in the case of Kamay and
Hill do you think that these existing codes and rules in their respective organisations were
sufficient? What more should be said (written down as specific codes) and what action
should be taken at a corporate level to prevent individuals acting against law, or firm
policies?
5. The Fidelis International Institute discussion suggests that banks intrinsically face many
ethical dilemmas. They also ask the question whether better banking is possible. Do you
think that it is possible for banks to be better corporate citizens despite the culture they
actively encourage?