Hello, I am looking for someone to write an essay on JPMorgan Chase. It needs to be at least 750 words.
1. Discussion on How Administrative Agencies Like The Securities And Exchange Commission (SEC) Or The Commodities Futures Trading Commission (CFTC) Take Action In Order To Be effective in preventing high-risk gambles in securities / banking, a foundation of the economy
In the modern day context, financial sector forms a major part in the economic system of any country, irrespective of its global positioning. The fact can also be observed evidently even in the case of the US, which faced massive turmoil due to the downfall of JPMorgan Chase, a large financial services firm supposedly considered to a pillar of the US economy. In order to maintain legitimacy in these firms, the US government has been making attempts to regulate the financial dealings and the transparency of these organizations through the imposition of various policy measures. Correspondingly, many governmental bodies have been set-up, which are solely responsible to monitor the activities of the US financial system. For instance, the administrate agency, Commodities Futures Trading Commission (CFTC) helps in regulating the trading of options and futures as well as the banking sector. The CFTC, in order to prevent the high risks in securities or banking sectors, has been involved in implementing effective programs to trace and take actions against unethical behavior in the business process. Therefore, it protects the economy from many types of frauds related to commodity market, foreign currency trading, commodity pool participants and brokers activities (U.S. Commodity Futures Trading Commission, n.d).
The important elements, which are required to form a valid contract, usually involve an offer with a legal purpose by the offeror, free consent of the offeree, acceptance, consideration, competent parties, mutuality of obligation (Texas.gov, n.d.). Today, in the US, the customers are considered as a valuable asset for the banks