This website uses cookies to ensure you have the best experience. Learn more

Responsibility Essay

750 words - 3 pages

In this case, Hamlin has a fiduciary responsibility to Atlanta Park.

First, it is obvious that Hamlin and Atlanta Park are trustee and client respectively in this case. Meanwhile, Hamlin failed to fulfill the primary objective written in the agreement.

In September of 1991, Atlanta Park signed a discretionary account agreement, a contract giving Hamlin complete discretion to invest the money as it saw fit, which means that there was a fiduciary contract that regulars Hamlin and Atlanta Park actions and behaviors.

A discretionary account gives a broker the right to make significant investment decisions without permission from or even consultation with the account's owner. However, ...view middle of the document...

However, in the case, Hamlin was the trustee of Atlanta Park, as well as the controlling company of the HDSG fund. Undeniably, there existed mutually opposed interest between them. Assume Hamlin

In fact, Hamlin spared no effort to save its fund value, but not consider his clients’ interest.

2 To disclose conflicts
Managers must make full and fair disclosure of all matters that could reasonably be expected to impair their independence and objectivity or interfere with respective duties to their clients. They should ensure that such disclosures are prominent, are delivered in plain language, and communicate the relevant information effectively [3]

However, neither in the fund’s sales materials nor HDSG’s prospectus warns of the risk of such volatile derivatives. Hamlin informed Atlanta Park that the HDSG was a very safe bond fund. It also explained that the HDSG fund was structured so as to minimize volatility and price risk, while seeking a high level of income.

Last but not the least; the Hamlin Dewey must act with reasonable care and exercise prudent judgment. This duty illustrates that Hamlin Dewey must apply the following rules into the investment.
1 To establish the investment objectives of the client

Trustee should make a reasonable inquiry into a client’s investment...

Other Papers Like Responsibility

Responsibility Essay

1432 words - 6 pages Responsibility, It Is Personal Gen/200 July 1, 2013 Lisa Hailey Responsibility, It Is Personal The term Personal responsibility can be defined in many ways, yet there is no one definite definition. To be personally responsible, one would first have to have the ability to be accountable for ones actions. Everyone is raised in their own unique atmosphere, and the levels of responsibility introduced during that upbringing will vary largely

Responsibility Essay

1074 words - 5 pages My Personal Responsibility Gen/200 September 30, 2012 Tim Ferrara My Personal Responsibility There are many definitions to personal responsibility out in the world. In this paper we are saying what it means to our self. Personal Responsibility to me means working, going to school, paying bills, caring for the family and being held accountable for all my actions. My personal responsibility branches out many different ways


649 words - 3 pages What is a responsibility? A responsibility is something that is your job to do something about, or to think about. It is something that affects our lives and other people's lives. Some of our responsibilities • to follow the rules at home, at school and in the community - after all they are there for our safety and to protect our rights and the rights of others  • to stand up for our rights and the rights of others as much as we can

Personal Responsibility

594 words - 3 pages Personal Responsibility Shawn LeRoy University of Phoenix GEN/200: Foundations for General Education and Professional Success Group Number: MU11GEN10 Daniel Marlin, MS ChE Due: November 5, 2011 Personal Responsibility Personal responsibility is a trait required for completing tasks and meeting goals. Without

Personal Responsibility

996 words - 4 pages Personal Responsibility Robert Hartwick GEN/200 February 19, 2011 Renita Hobbs Personal Responsibility When we think about personal responsibility we tend to only think about what this means in our personal life. The foundations of our personal responsibilities are a mixture of our upbringing and personal experiences throughout our lives. We often seem to take our personal responsibilities for granted as though they are written in stone

Personal Responsibility

1114 words - 5 pages Personal Responsibility Courtney Cerniglia GEN/200 December 02, 2013 Lisa Foster Personal Responsibility Imagine your life if you did not take any responsibility. You never turn anything in on time, you don’t feed your cat, and you do not wash your socks. You would fail your class, your cat would be hungry, and you would stink. That life would be a chaotic one, so while it may seem difficult to learn personal responsibility, it is

Personal Responsibility - 1117 words

1117 words - 5 pages Personal Responsibility September 27, 2012 Personal Responsibility Even though many people are just naturally unable to take responsibility. I find that personal responsibility is reaching for excellence because personal responsibility achieves goals and personal responsibility continues your success. And the purpose of this paper is to discuss the reward of college success through personal responsibility What personal

Personal Responsibility - 633 words

633 words - 3 pages Personal Responsibility Marassa Crawford GEN/200 Foundations for General Education and Professional Success Missie Usry Taking Personal Responsibility Should it no longer be my personal responsibility to complete a task, once an obstacle or challenge has prevented it from happening? Should I not take personal responsibility for my decisions and actions, or blame someone else and make excuses for something I did not complete? Once I have

Personal Responsibility - 862 words

862 words - 4 pages Personal Responsibility Barbara Poe Gen 200 06-23-2014 Melanie Eggers Personal Responsibility In my opinion, personal responsibility means that you are responsibility for the choices you life good or bad. Being able to accept responsibility for our own actions is mandatory for our personal and academic success. "Taking personal responsibility means realizing that you can't control certain things, so stop trying." (Stack

Personal Responsibility - 554 words

554 words - 3 pages Personal Responsibility Title of Paper Responsibility is something we are taught as we grow up, it may be as small as parents letting their children get the mail from the mail box, or as big as babysitting two young children wile their parents are at work. Personal responsibility is the duty to accept the rewards and the consequences of each individuals own personal actions. Personal responsibility goes deeper than just admitting

Personal Responsibility - 839 words

839 words - 4 pages Personal Responsibility Lee A. Cruz Gen 200 James Bailey September 13th, 2012 As the great Eleanor Roosevelt once stated, “In the long run, we shape our lives, and we shape ourselves. The process never ends until we die. And the choices we make are ultimately our own responsibility.” Personal responsibility consists of knowing oneself, maintaining psychological and physical health, and knowing the choices we make today

Related Essays

Responsibility Essay 1014 Words

1014 words - 5 pages PERSONAL RESPONSIBILITY Camp Leatherneck the most grueling memory one can experience. The year was 2011; I had a pregnant wife and daughter sitting at home waiting for my safe return. At that moment in time, I knew what was important and with this I had an obligation to my family who needed me. I was not going to take care of my family on this career alone. There is more to life, and if I was going to accomplish this, something else had to

Responsibility Essay 861 Words

861 words - 4 pages Being responsible is choosing our own actions, we are responsible for everything that we do and say. I know that all of the things that have happened in my life for the most part is because i have been irresponsible in many aspects of my life. Responsibility is not just for ourselves but also as a normal part of society. You must be responsible in all aspects of your life including work, school, social life, or whatever it may be. We have

Responsibility Essay 284 Words

284 words - 2 pages Responsibility is being able to acknowledge and recognize that an outcome happened because of a choice. Responsibility is also accepting accountability for a particular choice. Once a person learns self-control, and can take blame rather than place blame, he or she can become a happy and successful person. Usually, everyone is capable of being responsible for his or her choices. As much as we might often see responsibility as a burden, it is

Responsibility Essay 1008 Words

1008 words - 5 pages RESPONSIBLITY Responsibility may be defined as a duty or obligation to satisfactorily perform or complete a task, which is entrusted to us or created by our own promise. Responsibility also means committing ourselves – to lead, to create, and to solve problems and then following it through till the end. It involves taking risks and working hard. Responsibility should be instilled from a young age at home, in school, at the work place