Best ACT Math Practice Tests How to Find and Use Them

Best ACT Math Practice Tests How to Find and Use Them SAT / ACT Prep Online Guides and Tips Whatever your ACT Math prep plan, whether you’re doing self-study, a class, or working with a tutor, you need to be working with real ACT Math practice materials. The ACT Math test will be unlike any other Math test you’ve taken. You need to work with the real material to get used to the pacing and style of this unique test. In this short guide, I’ll let you know where to find free and paid official ACT Math practice tests. Best ACT Math Practice - Free and Official These tests are totally free. We've gathered together all of them in one place for your convenience. ACT Math Free Online Sample Test This test format can be a little clunky to use, but it's convenient and online. Answer all choices on the page. Then, click answer at the bottom to see the answers to the question. Once you’ve checked your answers, you’ll be able to move on to the next page.There are 12 questions per page with five pages for a total of 60 questions (just like the real ACT Math section which has 60 questions). To keep the timing realistic, I recommend that you give yourself 12 minutes per page (which is 1 minute per question) since you get 60 minutes for 60 questions on the actual ACT Math section. Take as much time as you need to check your answers on the given page. Then, move on to the next page and give yourself another 12 minutes. PDFs: ACT Practice Test 2015-2016 (Form 72CPRE):Math Section Pages 24-31, Answers Page 57 ACT Practice Test 2014-15 (Form 67C):Math Section Pages 24-31, Answers Page 56 ACT Practice Test 20-12 (Form 64E):Math Section Pages 26-33, Answers Page 61 ACT Practice Test 2008-09 (Form 61C):Math Section Pages 26-33, Answers Page 61 ACT Practice Test 2005-06 (Form 59F):Math Section Pages 26-33, Answers Page 61 You might notice a few years are missing, and that's because the ACT duplicates the same test in different years. For example, the 2013-14 test is identical to the 2014-15 test. We've included the Form ID with each test so that you can check this for yourself (you can see the Form ID in the bottom left of each page on the test). Best ACT Math Practice - Paid and Official While studying for the ACT Math section, you’ll want more than six official ACT practice tests.I highly recommend The Real ACT 3rd Edition. The book only costs about $20, and it’s got five official Math practice tests. The book is written by the makers of the ACT, so it’s the real deal.Don't both buying Kaplan or Princeton Review for practice tests - their quality is far inferior to the tests put out by the ACT. If you want to get in a couple more practice ACT Math tests, I also recommend the ACT Online Program, though it’s less cost effective at $25 for two extra practice tests.It also includes an online prep program, but it’s not good. If you make the purchase, just do it the practice tests, if you need it. The ACT Math practice possibilities are (near) endless! Other ACT Math Materials In general, I recommend against using any ACT Math practice tests that were not written by the ACT as theywon’t providerealistic practice.You want to use real practice materials so that you ensure you’re taking tests that reflect the actual content and difficulty of the real ACT. If you take practices tests made by other companies, they may be more or less difficult and may not include all of the content on the real ACT.However,unofficial tests can be a great way to practicemath skills if not trying to practiceACT-style questions. ACTMath, more than any other section, is based on knowing the math content, so having plenty of materials to practice the different math skills required is important and bad formatting doesn't matter as much. Check out our massive collection of ACTstudy material for some official and unofficial tests. If you still want more ACT study material, check out our guide to the best ACT prep books. How to Use These ACT Math Practice Tests in Your Prep Even if you purchase all of the real ACT Math practice tests, you will only have 13, and each one of these tests will take you an hour, so you want to make sure you get the most out of each one. Here are my top three tips to best use your ACT Math practice tests: Tip #1:Take Math Practice Tests Under Realistic Conditions Take the math section in one sitting with accurate timing. Use a watch to time the one-hour math section. Sit for the full hour! It’s not that long! You need to sit for the full test so that you get used to the timing and learn to pace yourself. You only get 60 minutes for 60 questions. The questions progress from easy to hard.You’ll need to work on spending less thana minute per question on the first part of the ACT Math section so that you have a little more than a minute per question to answer the harder questions at the end of the Math section. Do not give yourself any extra time.This can allow you to do extra questions and improve your score. We want to use these practice tests as reliable indicators of your real score so stick to the real timing. NOTE: realistic practice means obeying all of the rules of the test. You're only allowed to have your calculator for the math section. You should not have your phone out. You should be using a pencil. Read our full guide to realistic practice. Tip #2: Review Your Mistakes When you finish your Math practice tests, score your Math test.Look at every mistake you made and try to figure out where you went wrong.If you skip this step, you're not going to learn from your mistakes, and you'll continue making them over and over again. I recommend spending at least 30 minutes to an hour reviewing your ACT math test.It may seem like a lot of time, but it’s necessary to take this time so that you learn from your mistakes.It’s better for you to take three ACT Math practice tests with detailed review than six with no review. Think quality over quantity! Tip #3: Supplement With Skill Work There are some students who can see improvement in ACT math by just taking practice tests and familiarizing themselves with the pace and style, but that is rare. The majority ofstudents need to do a more in-depth review of math skillsthat they might have forgotten, never learned, or never quite mastered. If you find you're not improving on your practice tests, I recommend that you look atour individual Math content guides. These articles tacklespecific math subject areas (i.e. Linear Equations, Trigonometry, etc.) that you need to know to succeed on the ACT Math section. When you review your first practice test, figure out the reason you got each math question wrong:was it due to misreading a question? Or not knowing the content?If you didn't know the content necessary tosolve the question, then you need to review that content! Tip #4: Get Additional Help If You Need It! If you’re not improving your score, you should supplement the practice tests with extra prep work, either a tutor, class, book (such as the ones linked to above) or a program.While some students may be able to learn from their mistakes on practice tests, the majority need additional guidance to point out their weaknesses and to help them improve. However, a good prep program should be personalized to your needs, focusing on your area of weakness while not wasting your time covering topics that you’ve already mastered. What’s Next? Now that you know where to find ACT Math practice tests, you might want to take a look at our ACT math guides to help you study any individual ACT math topic from ratios to rotations, points to probabilities;we've got you covered. Stuck on an ACT math problem? Whether you're stuck on a study guide, a practice test, or you're worried about getting stuck on test day, don't sweat it. We'll show you how to figure out when you're really stuck and what to do about it. Need more help with ACT Math? We've compiled the best ACT Math guides into one ultimate ACT math study guide. No more searching for ACT math tips and resources- they're available here. Want to improve your ACT score by 4 points? Check out our best-in-class online ACT prep program. We guarantee your money back if you don't improve your ACT score by 4 points or more. Our program is entirely online, and it customizes what you study to your strengths and weaknesses. If you liked this Math lesson, you'll love our program.Along with more detailed lessons, you'll get thousands ofpractice problems organized by individual skills so you learn most effectively. We'll also give you a step-by-step program to follow so you'll never be confused about what to study next. Check out our 5-day free trial:

Free Essays on Taxes In America

The subject of taxes in America has been a big pill to swallow for many Americans, especially the working class. It is true that many good things come out of certain taxes, but is that the whole story? Do all of our tax dollars go to the right things? Is our government even using our tax dollars for good purposes? I read a book over the summer by Bill O’Reilly, the famous TV correspondent who has his own television show called The O’Reilly Factor. In his book he discussed the heavy topic of America’s taxing system under the Clinton administration. Did you know that our government couldn’t compensate for forty-eight billion dollars? It does not know where it is, so they say, and the politicians will not show us, American citizens who pay the taxes, the record books on how they spend our tax money (O’Reilly 112). Do you, as an American taxpayer, have the right to know how your tax dollars are spent? The government sure doesn’t think so. In the last years of the Clinton administration, 26,000 very special Americans received $8.5 million in food stamps. The reason that these Americans were special is that they were dead at the time the food stamps arrived. During that same period of time, the General Accounting Office estimates that more than $100 billion was erroneously sent to Medicare recipients (O’Reilly 110). Of course it is we the taxpayers who fund all Fletcher 2 this waste. As of January 2001, when President Bush took office, U.S. taxes were at their highest level since World War II, a time of grave national crisis and an unquestionable need for spending for national survival (Robertson 26). I don’t get it. Have you looked at your paycheck lately? Or have you just given up? Perhaps we’re just numb and don’t recognize that America is a functioning â€Å"tax culture.† Almost every action we take in our daily lives, from the necessities to the frivolous, activates a tax consequence. And it’s not just... Free Essays on Taxes In America Free Essays on Taxes In America The subject of taxes in America has been a big pill to swallow for many Americans, especially the working class. It is true that many good things come out of certain taxes, but is that the whole story? Do all of our tax dollars go to the right things? Is our government even using our tax dollars for good purposes? I read a book over the summer by Bill O’Reilly, the famous TV correspondent who has his own television show called The O’Reilly Factor. In his book he discussed the heavy topic of America’s taxing system under the Clinton administration. Did you know that our government couldn’t compensate for forty-eight billion dollars? It does not know where it is, so they say, and the politicians will not show us, American citizens who pay the taxes, the record books on how they spend our tax money (O’Reilly 112). Do you, as an American taxpayer, have the right to know how your tax dollars are spent? The government sure doesn’t think so. In the last years of the Clinton administration, 26,000 very special Americans received $8.5 million in food stamps. The reason that these Americans were special is that they were dead at the time the food stamps arrived. During that same period of time, the General Accounting Office estimates that more than $100 billion was erroneously sent to Medicare recipients (O’Reilly 110). Of course it is we the taxpayers who fund all Fletcher 2 this waste. As of January 2001, when President Bush took office, U.S. taxes were at their highest level since World War II, a time of grave national crisis and an unquestionable need for spending for national survival (Robertson 26). I don’t get it. Have you looked at your paycheck lately? Or have you just given up? Perhaps we’re just numb and don’t recognize that America is a functioning â€Å"tax culture.† Almost every action we take in our daily lives, from the necessities to the frivolous, activates a tax consequence. And it’s not just...

Impact of Data Warehousing and OLAP Models on Management Accounting Dissertation

Impact of Data Warehousing and OLAP Models on Management Accounting - Dissertation Example The questions were categorised into seven sections that cover the aspects of familiarity of the organisation with these tools, historical data for planning the implementation, changes and compatibility of people in various departments, contribution of OLAP to management accountant and other departments. The data collected were analysed in Excel and by SWOT analyses. The strengths, weaknesses, opportunities and threats in implementing OLAP and data warehouses for the organisation and the management accountant have been analysed. It has been identified that the strengths are more and the threats are less. Hence the impact of the OLAP and data warehouses on management accountant is positive and their overall benefits it that the data analysis and reporting is easy and efficient. Table of Contents Chapter 1 - Introduction 1.1. Research scenario 1.2. Identification of research problem 1.3. Main research question and Assumptions 1.4. Aim and Objectives of the Research 1.5. Methodology of r esearch 1.6. Structure of the research Chapter 2 – Literature Review 2.1. The Traditional Accountant 2.2. Challenges faced by The Traditional Accountant 2.3. Transition of role 2.4. The Data Marts 2.5. Introduction to OLAP 2.6. OLAP models 2.6.1. Data analysis in OLAP 2.6.2. OLAP components 2.7. The role of OLAP 2.8. Mapping the BI 2.9. Database Design 2.10. Warehouse Management 2.11. Challenges and implications of BI tools Chapter 3 - Methodology of Research 3.1. Research Methodologies 3.2. Qualitative survey method 3.3. Data collecting instrument 3.4. Sample space and sample size 3.5. Validity, Originality and Limitation of the research Chapter 4 – Data Presentation and Analysis 4.1. Qualitative Data representation 4.1.1. Section I Questions – Data Representation 4.1.2. Section II Questions – Data Representation 4.2. Preliminary data analysis in EXCEL 4.2.1. Analysis of section I questions 4.2.2. Analysis of section II questions 4.2.3. Analysis of secti on III questions 4.2.4. Analysis of section IV questions 4.2.5. Analysis of section V questions 4.2.6. Analysis of section VI questions 4.2.7. Analysis of section VII questions 4.3. SWOT analysis method 4.4. SWOT analysis of research data Chapter 5 – Research Recommendations 5.1. Strengths 5.2. Weaknesses 5.3. Opportunities 5.4. Threats 5.5. Research Recommendations Chapter 6 – Research Conclusion References Appendices Appendix A – Questionnaire Appendix B – Data Collected from First Participant Appendix C – Data Collected from Second Participant List of Figures Fig.2.1. The cube architecture of OLAP system. Fig.2.2. Database segregation in Business Intelligence using OLAP. Fig.4.1. Analysis of first question in section I. Fig.4.2. Analysis of second question in section I. Fig.4.3. Analysis of third question in section I. Fig.4.3. Analysis of third question in section I. Fig.4.5. Analysis of fifth question in section I. Fig.4.6. Analysis of sixth q uestion in section I. Fig.4.7. Analysis of seventh question in section I. Fig.4.8. Analysis of eighth question in section I. Fig.4.9. Analysis of first question in section II. Fig.4.10. Analysis of second question in section II Fig.4.11. Analysis of third question in section II Fig.4.12. Analysis of fourth question in section II Fig.4.13. Analysis of fifth question in section II. Fig.4.14. Analysis of sixt

Economic Development Project (EDP) Research Paper

Economic Development Project (EDP) - Research Paper Example Due to lack of a single definition of economic development that incorporates all its aspects, it is basically defined in terms of its objectives. As a process, it is understood as an influence on growth with the aim of enhancing the community’s economic good (Ezeala-Harrison, 1996) . Development in the economy incorporates three major areas in any community or country namely; policies that the government undertakes to meet the economy objectives which may include inflation control, employment and having sustainable growth. It also includes programs and policies that are put in place to offer services such as building roads, recreational facilities and provision of medical facilities to the disadvantaged groups in the society. It also takes into account policies and programs that are directed towards improving the business community climate through the right efforts of finance, marketing, business retention, technology transfer and real estate development (Nafziger, 2006). Addi tionally, economic development is often associated with a number of measures which include: an increase in real GNP is an important measure as it indicates the growth development of a country and may be achieved through rapid industrialization. Increase in real per capita income is also an important measure of and usually is indicated by improved standards of living in a particular country. A rise in the general well being of citizens in a particular country is also an important measure of economic development. An increase in the well being of people in normally reflected through an increase in production and consumption of goods and services. Other diverse indicators of economic development in a particular economy may include :increase in income from agricultural activities ,increase in per capital consumption of energy ,increased degree of urbanization and population levels and infant mortality that are not too high (Arndt, 2009). Generally, the main goal of economic development i s therefore the improvement of the economic well being of a community through efforts by the government that maximize on job creation and job retention, taxation structures that favor the quality of life and government incentives to support marginalized groups in the society. Additionally, communities differ in terms of their geographic and the political strengths and weakness thus posing a major difference in their economic development. Each country therefore has a different level of economic development policies, level of economic development and the strengths and weaknesses. In this project I will look at the economic development in Eritrea and Guyana which are develpimg economies (Galbraith, 2004). Relevant characteristics It is an Eastern African country which lies on the Red Sea coastline. Eritrea is bordered by Sudan in West, Ethiopia in South and Djibouti on its South East. Eritrea as a country shares maritime borders with Saudi Arabia and Yemen. The Asmara city is found in the North Western side of the Eritrea highlands. Other major cities are Assab, Kerren, Massawa, Afabet, Tessenie, Mendefera , dekemahre and Barentu. Eritrea has a population of six million persons consisting of Tigrinya -55%, Tigre -30% with the remaining being composed of small ethnic groups. Its Afro-Asiatic population is also divided in

Designing Public Policy Essay Example | Topics and Well Written Essays - 2500 words

Designing Public Policy - Essay Example 1 Toward a Gender-Neutral Policy: Protecting the Rights of Men Executive Summary Overview of Problem - Domestic violence rates in the U.K. have remained high despite laws aimed at criminalizing domestic violence and increasing the reporting of violent offenses to the police. Domestic violence is the cause of as much as 25 percent of all reported violent crime (British Crime Survey report, 2007-08). Surveys from the Home Office and a British Crime Survey have revealed that men were the victims in more than 40 percent of domestic violence incidents reported between 2004 and 2009. Yet cultural biases and gender pressures prohibit men from reporting acts of violence against them from women. â€Å"Domestic violence is often seen as a female victim/male perpetrator problem, but the evidence demonstrates that this is a false picture,† said a 2010 report from the charity group Parity. Outline of the Problem Introduction - This paper proceeds from the understanding that domestic violen ce as a whole – and violence against men in particular - represents a far more pervasive problem than is reflected in current government policy. This perspective provides the basis for a discussion of constraints, and of opportunities, to strengthen the rights of male domestic violence victims in the U.K. Recent proposals and subsequent inhibiting factors will be discussed, followed by the presentation of a targeted policy initiative. 2 Context: Summary and Identification of Impacted Group - The intent of this paper is to recommend a program for adopting a more equitable policy stance vis a vis improved victim advocacy for men. The outcome of a more enlightened approach would be heightened awareness of a far more troublesome issue than has generally been understood. As the government moves ahead with a test program intended to better protect domestic violence victims, policy should reflect a more balanced approach to gender –based violence. Otherwise, men will be vulne rable to what may well amount to cursory justice. Cause of the Problem: Impact of Current Conditions - In 2009, the Labour Party announced its intention to give police unprecedented authority in domestic violence situations. Their proposal included Domestic Violence Protection Orders, also known as Go orders, which would require violent offenders to leave their homes immediately for up to two weeks, giving victims a respite during which they could reflect on their situation in safety and determine a course of action. Offenders who violate the terms of a Go order would be in contempt of court, subject to further criminal charges and could be incarcerated. Previously, only offenders placed under arrest could be removed from the premises. A Go order would give police extensive discretionary power to act on behalf of a victim believed to be in imminent danger. Despite its non-gender-specific language, the scheme has been criticized for giving police too much leeway to act based on confl icting information and 3 possibly spurious claims made at the scene of the crime. This is troubling in light of the fact that police, in general, have too little training to accurately assess and react to often confusing circumstances surrounding a domestic violence event. Men continue to be responsible for domestic violence incidents by a considerable amount, however, the 2009 study revealed that violence against men rose considerably between 2004 and 2008. Nearly 3,000

Overview of Insider Trading

Overview of Insider Trading Insider trading is the trading of a corporation’s stock or other securities (e.g. stock options or bonds) by individuals related to the company with potential access to non-public information about the company which is not disclosed to general public generally. In most countries trading by corporate insiders such as directors officers key employees and large shareholders may be legal, if this trading is done in a way that does not take advantage of non-public information which ultimately harm the investors confidence. However insider trading to refer to a practice in which an insider or a related party generally member of the company trades based on material non-public information obtained during the performance of the insider’s duties at the corporation, or otherwise in breach of a fiduciary or other relationship of trust and confidence or where the non-public information was misappropriated from the company. The illegal kind of Insider Trading is the trading in a secu rity (selling or buying a stock) based on material information that is not available to the general public. It is prohibited by the US Securities and Exchange Commission (SEC) because it is unfair and would destroy securities markets by destroying investor confidence. DEFINITION OF â€Å"INSIDER† Insider means any person who is or was connected with the company or is deemed to have been connected with the company and is reasonably expected to have access, by virtue of such connection, to unpublished price sensitive information in respect of securities of the company , or who has received or has had access to such unpublished price sensitive information. Unpublished price sensitive information means any information which relates to the following matter or is of concern , directly or indirectly , to a company, and is not generally known or published by such company for general information , but which is published or known , is likely to materially affect the price of securities of that company in the market. The following unpublished information can be considered as price sensitive: 1) Financial results of the company 2) Intended declaration of dividend 3) Issue of hares by way of public rights, bonus, etc 4) Any major expansion plans or execution of new projects 5) Amalgamation , mergers and takeovers 6) Disposal of the whole or substantially the whole of the undertaking 7) Such other information as may affect the earning of the company 8) Any changes in policies , plans or operations of the company Connected persons include the following 1) Director of the company 2) Person deemed to be director of the company 3) Person occupying the position as an officer or an employees of the company 4) Person holding a position involving a professional or business relationship between himself and the company and who may reasonably be expected to have an access to unpublished price sensitive information relating to that company Therefore a company insider is someone who has access to the important information about a company that affects its stock price or might influence investors decisions. This is called material information. A public company, if it is smart, limits the number of people who have access to material information and, therefore, are considered insiders. This is done for a couple of reasons. First, they want to limit the likelihood that anyone will â€Å"leak† the information. Second, being an insider means being subject to severe limits on when you can trade in the company stock, usually only the middle month of each quarter. The company’s senior management are insiders. So are some of the financial analysts. The top sales people usually also are insiders, although a regional sales manager who only sees his or her own region’s results may not be one. The individuals in Investor Relations and/or Public Relations who prepare the public announcements also are insiders. If t he company is developing a new product that could be a big seller, the key people in the Research Development team would also be considered insiders, provided the information they have is material. Other individuals who are not employees, but with whom the company needs to share material information, are also insiders. This list could include brokers, bankers, lawyers, etc. WHY INSIDER TRADING Insider trading may be attempted to 1) Benefit the company through unethical purchase and sale of the companys shares by withholding price sensitive information , and 2) Benefit the individuals indulging in this unethical practice CATEGORIES OF INSIDERS These are persons connected with the company having access to price sensitive information. Broadly then can be a) Primary insider e.g. directors, stock exchange, merchant bankers, registrars, brokers of the company, top executives, auditors, bank etc b) Secondary insider i.e dealer, agents and other employes etc c) Others having acess to price sensitive information due to their proximity with the company WHY CONTROL INSIDER TRADING Basic objective of controlling insider trading is to protect investors . other related objective are protecting the interest and reputation of the company, maintaining confidence in stock exchange operations, maintaining public confidence in the financial system as a whole. SIGNIFICANT PENALITIES Sections 10(b) and 14(e) of the Securities Exchange Act of 1934 give the SEC the authority to seek a court order requiring violators to give back their trading profits. The SEC can also ask the court to impose a penalty of up to three times the profit the violators realized from their insider trading. In addition to the financial penalties, there are criminal penalties. Many now feel those penalties are not strong enough and are working to increase them substantially. A bill in the US Senate, for instance, seeks to make defrauding shareholders a felony punishable by up to 10 years in prison.A penalty up to Rs 5 lakh can be imposed on an insider who indulge in dealing, communicating or counseling on matters relating to insider trading. PROHIBITION ON DEALING, COMMUNICATING OR COUNSELLING ON MATTERS RELATING TO INSIDER TRADING It has been laid down that no insider shall 1) Either on his own behalf or on behalf of nay other person, deal in securities of a company listed on any stock exchange on the basis of any unpublished price sensitive information; or 2) Communicate any unpublished price sensitive information to any person, with or without his request for such information, expect as required in the ordinary course of business or under any law; or 3) Counsel or procure any other person to deal in securities of any company on the basis of unpublished price sensitive information. INVESTIGATION INTO THE AFFAIR OF INSIDERS In case SEBI, on the basis of written information in its possession, is of the opinion that it is necessary to investigate and inspect the books of accounts, other records and documents of an insider, it may appoint an investigating authority a) To investigate into the complaints received from investors, intermediaries or any other person on any matter having a bearing on the allegations of insider trading; and b) To investigate knowledge or information in its possession to protect the interest of investors in securities against breach of these regulations SECURITY ANALYSIS AND INSIDER TRADING The analysts of security gather and compile information and they talk to corporate officers and other insiders and issue recommendations to traders. Thus their activities might easily cross legal lines if they are not careful about it . The CFA Institute has quoted in its code of ethics that analysts should make every effort to make all reports available to all the broker’s clients on a timely basis. Analysts should never report material nonpublic information, except in an effort to make that information available to the general public. Moreover analysts’ reports may contain a variety of information that is collected without violating insider trading laws. EFFECTS OF INSIDER TRADING THE EFFECT OF STOCK MARKET INSIDER TRADING A distinction has to be made between trading by insiders and trading by insiders on the basis of nonpublic information. As Insiders are legally allowed to buy and sell stocks. The Securities and Exchange Commission (SEC) requires insiders to disclose their trades, and the financial newspapers report such trading. Investors find this information a source of valuable clues about companies. Insider trading puts a bad effect on stock market as people who earlier are willing to invest will now hesitate to invest as they will fear about the market fluctuation as market becomes more risky so as a result they would prefer not to invest. MARKET AND PRICES Stock prices too are generated by supply and demand. But supply and demand for stocks are not disembodied concepts. They are generated, obviously enough, by suppliers and demanders people with preferences, objectives, expectations, knowledge, and, therefore, plans. Part of what goes into an intention to buy or sell shares in a company is expectations about its future based on knowledge about its management, organization, and so on. These expectations are incorporated into the share price, and changes in expectations bring about changes in price. The more knowledgeable the participants, the more fully do prices perform their communications work. Nothing would undermine confidence in markets more than the belief that prices are out of date. CIVIL PENALITIES FOR INSIDER TRADING A. AUTHORITY TON IMPOSE CIVIL PENALITIES 1. JUDIIAL ACTIONS BY COMMISSION AUTHORIZED According to judicial actions by commission authority whenever it will come to the notice of commission that any person has violated any provision and regulations there under by purchasing or selling a security or security-based swap agreement while in possession of material, nonpublic information in, or has violated any such provision by communicating such information through the facilities of a national securities exchange through a broker or dealer, and which is not part of a public offering by an issuer of securities. A. This section bring an action in a United States court to seek and the court shall impose a civil penalty to be paid by a person who directly or indirectly controlled the person who committed such violation. B. may bring an action in a United States court to seek and the court shall have jurisdiction to impose a civil penalty to be paid by the person who committed such violation 2. AMOUNT OF PENALTY FOR PERSON WHO COMMITS VIOLATION The amount of the penalty which might be imposed on person who commits such violation shall be evaluated by the court in accordance of the facts and circumstances and will not exceed three times the profit gained or loss incurred as a result of such unlawful sale, purchase or communication. B. AMOUNT OF PENALTY FOR CONTROLLING PERSON The amount of penalty which might be imposed on the person who directly or indirectly control the person who commits such violation will be evaluated by the court in accordance of the facts and circumstances and will not exceed three times the amount of the profit gained or loss incurred as a result of such controlled person’s violation. C. LIMITATION ON LIABILITY 1. LIABILITY OF CONTROLLING PERSONS No controlling person shall be subject to a penalty under section (a)(1)(B) unless the Commission finds that. A. the controlling person knew the fact that such controlled person was likely to engage in the act constituting the violation and failed to take required steps to prevent such act before they occurred. B. such controlling person knowingly or unknowingly failed to establish or maintain any procedure required under the act of the Investment Advisers Act of 1940 and such failure substantially lead to the occurrence of the act constituting the violation. 2. ADDITIONAL RESTRICTIONS ON LIABILITY No person shall be subject to penalty under subsection (a) of section solely by reason of employing another person who is subject to penalty under subsection unless such employing person is liable as controlling person (1) of this subsection. shall not apply to actions subsection (a) of this section. D. AUTHORITY OF COMMISSION The Commission by such rules regulations as it considers necessary in the public interest and primarily for the protection of investors may exempt in whole or some part unconditionally or for specific terms and conditions, any person from this section. E. PROCEDURE FOR COLLECTION 1. PAYMENT OF PENALTY TO TREASURY A penalty imposed under this section shall be payable into the Treasury of the United States except as otherwise provided in section 308 2. Collection of penalties A person on whom such penalty is imposed shall fail to pay such penalty within the time prescribed in the court’s order then the Commission may refer the matter to the major Attorney General who will recover such penalty by action in the appropriate court. 3. REMEDY NOT EXCLUSIVE The actions authorized by section might be brought in addition to some other actions that the Commission are entitled to bring. 4. JURISDICTION AND VENUE For purposes of section 27 under this section shall be actions to enforce a liability or might be a duty created by this title. 5. STATUTE OF LIMITATIONS No action will be included under this section for more than 5 years after the date of the sale or purchase. This section shall not be construed to bar limit in any manner action by the Commission or under any other provision of this title nor shall it in any manner any action to recover penalties, or to seek any other order regarding penalties, imposed in any action commenced between 5 years of such transaction. F. Authority to award bounties to informants Notwithstanding the provisions of this section there shall be paid from amounts imposed as a penalty under this section and recovered by the Commission or the Attorney General and not to exceed 10 percent of such amounts as the Commission deems appropriate to the person who provide information leading to the imposition of such penalty.Any determinations under this section including in what amount to make payments shall be in the solely decided of the Commission except that no such payment shall be made to any member or officer or employee of any appropriate regulatory agency. ARTICLES Insider Trading by David D. Haddock Since the depths of the Great Depression the Securities and Exchange Commission has always tried to prevent insider trading to become that common in U.S. securities markets. Insiders that can be a firm’s principal owners or directors, and management as well as its lawyers accountants that routinely possess information that is unavailable to the general public. This is Because some of that information can affect the prices of firm’s securities as soon as it becomes public and because of this insiders can profit by buying or selling in advance. Even before the thirties insiders were held liable under the common law if they fraudulently or intentionally misled traders who were uninformed into accepting inappropriate prices. But the Securities Exchange Act of 1934 also forbid insiders from even profiting from superior information. One of the most famous instances of insider trading was of Charles F. Fogarty’s who purchased Texas Gulf Sulphur shares during 1963-1964. Fogarty, who was an executive vice president of Texas Gulf already knew that the company had discovered a rich mineral lode in Ontario and that it will not be publicize before concluding leases for mineral rights. So In the meantime Fogarty decided to purchase 3,100 Texas Gulf shares and earned $125,000 -150,000. The basic argument that is against insider trading is that the insiders should not be permitted or allowed to earn such profits at the expense of uninformed traders. Yet in all other markets where information is important for insider trading is well established and very widely accepted. For example to explain it quite well mineral leases are normally and routinely bought by those better able as Texas Gulf Sulphur’s behavior exemplified than the sellers to evaluate a site’s potential and the Cattle buyers rely on superior estimates of what packers will pay when they will negotiate. And so it goes in markets for art or for real estate or for professional athletes who are indeed in practically every market with substantial variations in the prices. In all those markets a few buyers routinely profit from knowledge that most sellers do not possess, and a few sellers profit from knowledge that most buyers do not possess. One reason frequently cited by policymakers and commentators is that insider trading undermines public confidence in the securities markets.If people fear that insiders will regularly profit at their expense, they will not be as willing to invest and frequent opportunities to trade at observable prices. Efficient securities market it is argued a require a to avoid frightening away speculators who wish to contribute to securities market liquidity and those investors who could invest their savings in markets and with less risk of insider predation. Related to this argument is very important thing that is the harm that insider trading can cause to the specialists. A specialist is the one who the stock exchange appoints to ensure that a any buyer of a particular security that is listed by the exchange can find a seller. These specialists must sell or buy to any trader whose order cannot be discharged against any other orders arriving side by side. For example if a buyer wants a hundred shares of IBM but no one wants to sell at that point of moment then the IBM specialist will sells from his inventory of IBM stock. The specialist charges a bid-ask spread to cover that cost. A bid-ask spread implies that a bit higher price is asked from someone who wishes to purchase a security than will be offered to someone who wishes to sell. An inside trader can however can sell securities to the that specialist who is the one when only he knows that the securities will soon be worth less and will be of no use. After the price had fallen the insider is very well free to repurchase the securities again from that specialist for the lower price than the intrinsic value. If it happens the specialist bears loss. If insider trading reoccurs then the security’s specialist cannot continue without recouping the funds that have been lost to informed traders. If in insider trading increased the spread and it would decrease a security’s attractiveness relative to certificates of deposit and government bonds and other assets. Raising new capital would definitely will be more costly for a firm whose securities are subjected to repeated insider trading. Therefore everything being equal insider trading makes it harder for a firm to raise money when opportunities to undertake new projects arise. Of course insiders can also profit by borrowing and selling securities when the price is apt to fall. Some argue that insider trading more likely to harm companies because damage is easier to inflict. That argument turn has been countered major actions by a company require teams not individuals. A number of financial economists and law professors take the position that insider trading ought to be legal. They put their case on the basic proposition that insider trading makes the stock market more efficient. the insider will have no incentive to trade on the information .If insider trading was legal insiders will bid the prices of stocks up or down in advance of the information being released. The result is that the price would more reflect all information both public and confidential about a company at any given time. Besides specialists the other group systematically injured by insider trading are price-function traders those who trade securities because they believe the present price is inappropriate. If an insider secretly buys securities the result is increase in price. some price function traders believe that security is now overpriced they sell but soon regret their action. Few people have the expertise to realize trading profits repeatedly. CASES SIX PEOPLE CHARGES IN INDISER TRADING CASE BILLIONAIRE RAJ RAJARATNAM, FIVE OTHERS CHARGED IN CASE updated 7:40 p.m. ET Oct. 16, 2009 One of America’s wealthiest men was among six hedge fund managers and corporate executives arrested Friday in a hedge fund insider trading case that authorities say generated more than $25 million in illegal profits and was a wake-up call for Wall Street. Raj Rajaratnam, a portfolio manager for Galleon Group, a hedge fund with up to $7 billion in assets under management, was accused of conspiring with others to use insider information to trade securities in several publicly traded companies, including Google Inc. U.S. Attorney Preet Bharara told a news conference it was the largest hedge fund case ever prosecuted and marked the first use of court-authorized wiretaps to capture conversations by suspects in an insider trading case. He said the case should cause financial professionals considering insider trades in the future to wonder whether law enforcement is listening. Joseph Demarest Jr the head of the New York FBI office, said it was clear that â€Å"the 20 million dollars in illicit profits come at the expense of the average public investor. The Securities and Exchange Commission, which brought separate civil charges, said the scheme generated more than $25 million in illegal profits. Robert Khuzami, director of enforcement at the SEC said the charges show Rajaratnam’s secret of success was not genius trading strategies. Galleon Group LLP said in a statement it was shocked to learn of Rajaratnam’s arrest at his apartment. We had no knowledge of the investigation before it was made public and we intend to cooperate fully with the relevant authorities. Rajaratnam, 52, was ranked No. 559 by Forbes magazine this year among the world’s wealthiest billionaires, with a $1.3 billion net worth. According to the Federal Election Commission. he is a generous contributor to Democratic candidates and causes. The FEC said he made over $87,000 in contributions to President Barack Obama’s campaign, the Democratic National Committee and various campaigns on behalf of Hillary Rodham Clinton, U.S. Sen. Charles Schumer and New Jersey U.S. Sen. Robert Menendez in the past five years. The Center for Responsive Politics, a watchdog group, said he has given a total of $118,000 since 2004 all but one contribution, for $5,000, to Democrats. The Associated Press has learned that even before his arrest, Rajaratnam was under scrutiny for helping bankroll Sri Lankan militants notorious for suicide bombings. Papers filed in U.S.District Court in Brooklyn allege that Rajaratnam worked closely with a phony charity that channeled funds to the Tamil Tiger terrorist organization. Those papers refer to him only as Individual B. But U.S. law enforcement and government officials familiar with the case have confirmed that the individual is Rajaratnam. At an initial court appearance in U.S. District Court in Manhattan, Assistant U.S. Attorney Josh Klein sought detention for Rajaratnam, saying there was â€Å"a grave concern about flight risk† given Rajaratnam’s wealth and his frequent travels around the world. His lawyer, Jim Walden, called his client a â€Å"citizen of the world,† who has made more than $20 million in charitable donations in the last five years and had risen from humble beginnings in the finance profession to oversee hedge funds responsible for nearly $8 billion. Walden promised â€Å"there’s a lot more to this case† and his client was ready to prepare for it from home. Rajaratnam lives in a $10 million condominium with his wife of 20 years, their three children and two elderly parents. Walden noted that many of his employees were in court ready to sign a bail package on his behalf. NOMURA CAUGHT IN INSIDER TRADING SCANDAL By Emi Emoto and Aiko Hayashi TOKYO Nomura Holdings, Japan’s largest brokerage house, said on Tuesday that it had fired an employee at the centre of an insider trading ring and warned the fallout could harm its business. The insider trading scandal, the broker’s second in five years, comes on top of falling profits and $1.4 billion in subprime losses, after which the firm replaced its CEO. Recently appointed CEO Kenichi Watanabe bowed in apology for the scandal, which drew harsh comments from government officials and sent the firm’s share price down 3.9 percent. It also led to a drop-off in business at the firm on Tuesday as some institutional investors stopped placing orders due to compliance concerns, a source on the Nomura trading floor said. Watanabe said the employee at the centre of the probe had been dismissed for violating company rules and warned the case would have an unspecified impact on earnings. It was significant that we were involved in something that hurt the brokerage industry he said, adding he saw the case as an individual matter, rather than a sign of wider problems at his firm. The employee at the centre of the scandal worked in the MA advisory department where he repeatedly used insider information about merger and acquisition deals, a source with direct knowledge of the matter said. The 30-year old, from Nomura’s Hong Kong unit, was suspected of giving information on merger deals to two acquaintances who then profited on stock trades, Kyodo News agency said. N.J MAN ADMITS INSIDER TRADING By Carrie Johnson Washington Post Staff Writer Thursday, June 17, 2004; Page E03 In this case a new jersey insurance broker committed that he is guilty to insider trading using that information that he had received from the husband of a secretary who took care of mergers and acquisition at a new York law firm. Ronald A. Manzo, 60, also lied to regulators at the Securities and Exchange Commission who were investigating purchases of seven stocks in 1998 and 1999, federal prosecutors in New York said.He earned more than $980,000 through the scheme, they said. Manzo could be sentenced to 40 years in prison and be fined millions of dollars. Prosecutors unsealed a related guilty plea by Fiore J. Gallucci, who allegedly passed information about pending deals from his wife, an assistant at Skadden, Arps, Slate, Meagher Flom LLP, to Manzo to curry favor with him. Gallucci, 62, received some money from Manzo but did not trade in the stocks himself. His wife, who no longer works at Skadden. did not know he was improperly sharing the information and was not charged with breaking the law. Separately, the SEC sued Gallucci, Manzo and Gary B. Taffet, a former chief of staff to New Jersey Gov. James E. McGreevey (D), for insider trades that resulted in $3 million in profit. The SEC said that Manzo tipped off Taffet using the information he had acquired from Gallucci. Gallucci and Manzo are in negotiations to settle the civil charges but Taffet, who was not charged with a crime, is fighting the allegations. â€Å"We are disturbed at the SEC’s decision to bring charges against Mr. Taffet, whose stock trading was not based on illegally obtained information.The reality is that Mr. Taffet did not know or deal with any insider at the companies he traded, nor did he knowingly disclose nonpublic information to any third party. Managers at Skadden, one of the most prominent dealmaking law firms in the world, said they cooperated with the investigation. Regulators said the practice of insider traders using information gathered from law firm employees is not uncommon. The crux of this case is that people who are in possession of material nonpublic information for legitimate reasons need to carefully consider to whom they can entrust this information.

The doom of apple :: essays research papers

The Ethics of War   Ã‚  Ã‚  Ã‚  Ã‚  Unrestricted submarine warfare is often considered a shady practice in a time of war. Unrestricted submarine warfare is when one country sets up an area that is declared a war-zone, any ships that enter this zone, military or civilian, will be fired upon without warning. Is this right? In my essay, I will weigh the pros and cons of this tactic used by the German’s in WWI.   Ã‚  Ã‚  Ã‚  Ã‚  The practice of unrestricted warfare cost the lives of many innocent people. No warning is given so there is no chance to surrender or abandon ship! And foremost, unrestricted submarine warfare violates the so-called rules of war. In the case of the Lucitania, it was believed to be carrying supplies (this was true) and the ship could have later become a threat to Germany if converted into a war or transport ship. But, at the time, the ship or its 2000 passengers were not a threat to U-20, yet the Lucitiana was sunk without warning and with massive losses.   Ã‚  Ã‚  Ã‚  Ã‚  Unrestricted submarine warfare is a very shady, but effective tactic, nonetheless. When implemented, little to no supplies reach your enemies, this gives a tactical strangle hold on a war. Why is no warring given on civilian ships? To a U-boat stealth and surprise are its only defenses. Once a U-boat reveals itself, it is open to ramming and attack thus endangering the crew. In most cases, keeping your troops safe comes above keeping the enemies safe. Why would someone need to attack a civilian ship anyway? Because they may be carrying supplies. To say unrestricted submarine warfare violates the â€Å"rules† of war then why is the opposition violating the â€Å"rules† by putting troops and supplies on a civilian ship making it a target of submarines? Using the lives of innocent people as a shield to protect supplies is just as bad as firing on an unarmed ship without warning.   Ã‚  Ã‚  Ã‚  Ã‚  Is unrestricted submarine warfare right? In my opinion a submarine must give civilian ships a chance to abandon ship. A submarine does not need to expose itself to send a warning, send a radio ultimatum, and then a warning shot. How much of a treat could a passenger ship pose anyway?