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A Rogue Trader at Daiwa Bank (B): The Board Meeting on September 25th 1995 in Japan    
 
Product Ref: 05/269C Company: Daiwa Bank

Product Type: Case Industry: Banks & Diversified Financials

Related Product(s): Teaching Note
Authors: Mitsuru Misawa   
This case raises many basic legal and economic issues regarding directors' responsibilities for their mismanagement, which were not discussed in the main case, "A Rogue Trader at Daiwa Bank: Management Responsibility under Different Jurisprudential Systems, Practices and Cultures". Based on a board meeting held in Japan, the case looks at management responsibility from different angles. Must senior management be held responsible for those responsibilities they have delegated to others? What about the bank's responsibility as an institution? Challenging questions raised by Daiwa's directors in the board meeting were: Was there any non-feasance regarding duties in establishing an internal control system? Can directors claim principle of trusting right? Is Daiwa bank also responsible under the principle of respondeat superior?
Functional Area : Accounting & Control
Finance & Investments
Strategy & General Management

Issues: Japan, Bank, Compliance, Trader, International Law, Internal Control Systems, Conflict of Laws, Management Responsibility, Shareholders' Suit, Daiwa
Length: Text: 4 pages
Exhibits: 0 pages
Country: Japan

Pub. Year: 2005 Level of Difficulty: 3
         
This product type is available in the following language(s):      English   Simplified Chinese
         
Related Information: This add-on case contains a broad range of complex issues, encompassing the government and business circles of both the US and Japan. It teaches that the ˇ§autonomous responsibility principleˇ¨ and the ˇ§free market doctrineˇ¨ are necessary to further international business in the international market. This case is also a good example of how multinational corporations are managed, showing that Japanese companies were allowed to be loosely run because supervising authorities and the legal system failed to rigorously pursue this laxity of risk management and the concealment of responsibilities. Ref: 05/268C - A Rogue Trader At Daiwa Bank (A): Management Responsibility Under Different Jurisprudential Systems, Practices And Cultures
 
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