Trusted Criminals Week 4

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Week 4 Assignment Trusted Criminals p308 q4 4. Identify three federal regulatory agencies with specific responsibilities relating to white collar crime; describe the jurisdictions of these agencies. Which agencies appear to be most effective, and which agencies appear to be least effective—or even counterproductive—and why? What factors specifically influence how agencies operate? • SEC-Securities and Exchange Commission: The SEC’s purpose is to “serve as a repository and examiner for registration statements filed by companies planning to sell stock to the general public; providing information on securities to investors; advising on some bankruptcy reorganizations; and investigating and initiating action when federal securities laws are violated and frauds are committed.” The SEC’s job is to protect investors by regulating a policing the securities market. Friedrichs, David O. Trusted Criminals: White Collar Crime In Contemporary Society, 4th Edition. Cengage Learning, 06/2009. VitalBook file. • EPA-Environmental Protection Agency: The EPA’s jurisdiction is our water, land and air. Their purpose is to create policies to protect our environment from pollution and from the depletion of our resources. • FDA-Food and Drug Administration: The FDA has jurisdiction to regulate, inspect, monitor, test, and develop guidelines for food, drugs, cosmetics, and medical devices. I think the agency that is the least effective is the FTC, Federal Trade Commission. For the middle class family, the FTC has probably never touched out lives. The purpose of the FTC is to regulate deceptive business practices, unfair advertising, fraud, and I believe they also cover monopolies. As consumers, we experience unfair business practices (i.e. overpricing from monopolies) every day and nothing is done about it. I think the factor that primarily influences how each agency

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