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Essay / Research Paper Abstract
This 9-page report examines the prevalence of fraud within the “penny stock” and “micro cap” markets. In addition, corruption within the private sector is discussed. Accounts of flagrant stock price manipulation by brokers and other professional analysts have become fairly commonplace, while the SEC strives to stem the tide by implementing more stringent regulations. Bibliography lists 16 sources.
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9 pages (~225 words per page)
File: D0_SNEthics.doc
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tide by implementing more stringent regulations. Bibliography lists 16 sources. SNEthics.wps Corporate Ethics - A Cursory Look At Responsibilities & Penalties Written for
, Inc. by Susan A. Nelson - March, 2001 For More Information On This Paper Please Introduction
In listening to a newscast on any given day, one has to wonder whether or not there is an actual increase in the number of homicides, incidents of theft or
other forms of assault in our communities. Or perhaps it is just that "high-adrenalin" reports make for better broadcast ratings. However, when looking at the corporate world today
and relevant business practices, there is solid evidence to support the fact that the rate of fraud is actually increasing - particularly in the "micro cap" and "penny stock" markets.
"Penny" stocks are generally classified as those priced at less than $5 per share, and are not trading on Nasdaq or listed on any stock exchange. "Micro
cap" stocks are not classified by the share price, but delineated by the companys comparatively low capitalization - regardless of its price or where it is publicly traded
(Government Accounting Office Report, 1998). During a 1997 Senate Congressional Hearing applicable to "micro-cap" fraud, testimony was given by Arthur Levitt, Chairman of
the U.S. Securities and Exchange Commission (SEC), concerning what he deemed to be a growing problem for the government regulatory agencies. According to Levitt, fraud in these two markets
"follows a fairly predictable pattern." Often a companys stock brokers, promoters or issuers illegally manipulate the stock price, thereby misleading investors into believing that the stock has increased in
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