He mentioned Makaveli Records a few times before his death. This was supposed to be a music label for up-and-coming artists that Shakur had an interest in developing or potentially signing, and his own future projects would have been published through it as well. He made his first film appearance in Nothing but Troubleas part of a cameo by the Digital Underground. His first starring role was in the film Juice.
All of these trials were settled out of court. The investigation then turned to whether AIG had manipulated its own financial statementswhich brought to light the shady accounting of the reinsurance transaction, as well as several off shore entities practically owned by AIG. In the court proceedings, General Re executives admitted they knew ahead of time that AIG would plan to use a reinsurance transaction to increase its loss reserves, as AIG had been under scrutiny by analysts because of the low balance in their reserves.
Many AIG executives admitted the transaction should have been classified as a loan, not as insurance.
A crucial grey area here, which the Sarbanes-Oxley Act does not truly address, is how reinsurance should be categorized. As reinsurance is usually a loan, should it be classified as debt?
Insurance companies such as AIG traditionally use reinsurance to protect themselves from risk. Reinsurance involves one company, AIG, ordering insurance from another company, Gen Re, to cover an insurance policy they wrote to a customer [insurance for insurance].
In particular AIG has been criticized for wrongly categorizing the finite insurance they purchased from Gen Re. Finite insurance, in essence, distributes the cost of a large insurance policy over several years. In the event that AIG is forced to pay a claim to its customer during the first few years of the policy being in effect, they would file a claim with Gen Re.
During this short time period AIG is paying Gen Re a large premium, in effect paying the cost of the insurance policy it granted to its customer over several years. Accounting standards in this area are open to interpretation, …there is a question about the accounting for finite policies.
To what extent is this not insurance? The grey area here is that for this cash movement to be considered insurance, some risk has to be transferred between the insuree and insurer. The intent of the Sarbanes-Oxley Act is to prevent companies from hiding losses or reporting unearned revenue, in this aspect AIG adhered to the Sarbanes-Oxley Act perfectly, Early in January, auditors reported that they had finished a yearlong effort analyzing A.
In Februarythe SEC filed an enforcement action against four Gen Re former employees and one AIG employee, finding that they violated anti fraud and other federal securities laws. Sarbanes-Oxley Act of Potential Effects The Sarbanes-Oxley Act ofhad it been in place at the time of the and fraudulent events by AIG and Gen Re, may have helped prevent it from happening in the first place.
In a Washington Post article, the effects of the Sarbanes-Oxley Act on responsibility was emphasized. Auditors also would not have been surprised to see that descriptive language changed after the passage of the Sarbanes-Oxley Act in Under the Act, the penalties—both monetary and in terms of jail time—are much harsher than they once were for executives who knowingly commit fraud by misstating financial statements.
In the SEC investigation of the Gen Re and AIG executives who concocted the plan, the fraud was treated lightly, and even joked about on recorded phone lines, as if there were to be no consequences.
Had the Sarbanes-Oxley Act been in place, the risk on consequences for committing fraud may have been no joking matter. AIG intended to commit fraud, planned how to cover the fraud, committed the fraud, and then put into action their cover up plan.
No act, no matter how strict, can force someone to tell the truth and to play the game fairly.Nov 05, · The music industry has developed in a series of technological advances, from the development of vinyl to the digitization of music and the creation of formats such as compact disc (CD), digital audiotape, and minidisk (Leyshon ).
[Content warning: Discussion of social justice, discussion of violence, spoilers for Jacqueline Carey books.] [Edit 10/ This post was inspired by a debate with a friend of a friend on Facebook who has since become somewhat famous. Following an investigation into essay mills last year, universities minister Jo Johnson asked the QAA to work on measures to combat so-called ‘contract cheating’, where students pay a company or individual to produce work they then pass off as their own.
Music publishing connects to many other areas of the music industry. A good example of this is with (PRS). Performance Rights Society because keeping track of every single time a song is played on the radio or in a public place. The Changing Nature of the Music Industry Essay.
Pages:3 Words This is just a sample. To get a unique essay. We will write a custom essay sample on The Changing Nature of the Music Industry specifically for you for only $ $/page. Investigation into Roles and Contracts of . I have decided to research into music within Politics and how they might affect each other, and have done throughout time.
This subject interested me because as a typical consumer you would not assume that the two would interlink at any point, but I believe that there could be a deeper understanding of the benefits and hindrances of political expression through song.