Ugb364 Corporate Governance & Ethics

UGB364 Corporate Governance & Ethics
Name and Student Identity – Babaev Anvarbek. ID: b1903470 Group No:411
Sample of short report submission to Module Leader

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  Company name : Wells Fargo
  

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  Country of Incorporation: Wells Fargo Company is an American multinational financial services company headquartered in San Francisco, California, United States.
  

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  Stock Exchange Listings: Wells Fargo Company is listed on the New York Stock Exchange (NYSE) under the ticker symbol "WFC".
  

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  Industry sector: Financial Services
  

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  Corporate Governance Failure Reason/s: Ethical standards problems in the corporation
  

The creation of millions of unauthorized accounts by Wells Fargo staff was the primary cause of the failure, which led to customers being charged for services they had neither requested nor required.
At the board and management levels, there were governance failures. There were problems with the company's risk management and compliance systems, which did not recognize or address the dangers associated with the unauthorized accounts, and the board failed to give effective monitoring and control of the company's management.
The Wells Fargo crisis served as a prime illustration of how poor corporate governance may result from unethical leadership, bad judgement, and insufficient oversight and control systems.

28.04.2023