Andrew Blake, Robert Robinson, Alex Rovira and Charles Sommers
To alert financial market participants to rules jointly proposed by the US Securities and Exchange Commission (SEC) and US Federal Deposit Insurance Corporation (FDIC) regarding…
Abstract
Purpose
To alert financial market participants to rules jointly proposed by the US Securities and Exchange Commission (SEC) and US Federal Deposit Insurance Corporation (FDIC) regarding orderly liquidation of certain large broker-dealers as mandated in Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank).
Design/methodology/approach
Explains how typical broker-dealer liquidations are generally effected, the alternative of determining a broker-dealer to be a “covered broker-dealer” to be liquidated through an orderly liquidation proceeding under Title II of Dodd-Frank, the appointment of the FDIC as receiver and Securities Investor Protection Corporation (SIPC) as trustee, the requirement for the SIPC to file a protective decree with a federal district court, the possible use of “bridge broker-dealers” to facilitate an orderly liquidation, the FDIC’s procedures for settling claims of customers and other creditors against covered broker-dealers, and additional proposed provisions for administrative expenses and unsecured claims.
Findings
Counterparties of broker-dealers that could be subject to an orderly liquidation proceeding should evaluate the proposal and consider whether, if adopted, the rules would require any changes to credit risk or other internal procedures. Large broker-dealers that could be the subject of such an orderly liquidation proceeding should do the same. Although the formal comment period has closed regarding the proposal, market participants that did not submit comments but who still wish to influence final rule making should still consider submitting written comments to the SEC and FDIC or otherwise advocating before them.
Originality/value
Practical guidance from experienced securities and financial services lawyers.
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Valerie Naquin, Spero Manson, Charles Curie, Shannon Sommer, Ray Daw, Carole Maraku, Nemu Lallu, Dale Meller, Cristy Willer and Edward Deaux
The demand for evidence‐based health practices has created a cultural challenge for Indigenous people around the world. This paper reports on the history and evolution of…
Abstract
The demand for evidence‐based health practices has created a cultural challenge for Indigenous people around the world. This paper reports on the history and evolution of evidence‐based care into its mainstream status within the behavioural health field. Through the leadership of an Alaska Native tribal organisation, an international forum was convened to address the challenges of evidence‐based practice for Indigenous people. Forum participants developed a model for gathering evidence that integrates rigorous research with Indigenous knowledge and values. The model facilitates development of practices and programmes that are culturally congruent for Indigenous people, accepted and validated by the research community, and deemed supportable by private and governmental sponsors.
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Nancy Hanson-Rasmussen and Brent S. Opall
The motivation and practices of business network members are explored with the purpose of determining what leads businesses to fully share and learn sustainable practice from each…
Abstract
Purpose
The motivation and practices of business network members are explored with the purpose of determining what leads businesses to fully share and learn sustainable practice from each other and how chambers contribute to an urgent need.
Design/methodology/approach
In this exploratory case study using in-depth interviews, SMEs belonging to a chamber of commerce green initiative address their unconventional thoughts regarding their participation and willingness to share their own sustainable practices.
Findings
The expectancy theory of motivation explains why members of a green business network participate in conventional and unconventional sustainable practices and the role networks play in recognizing but not increasing sustainable business practice.
Originality/value
This study is unique in that it explores the motivation and reticence of chamber of commerce business members to fully participate in a green initiative. Filling a literature gap, this study provides optimism that a chamber's green initiative may contribute to providing support for promising sustainable practice.
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Yayun Yan and Sampan Nettayanun
Our study explores friction costs in terms of competition and market structure, considering factors such as market share, industry leverage levels, industry hedging levels, number…
Abstract
Our study explores friction costs in terms of competition and market structure, considering factors such as market share, industry leverage levels, industry hedging levels, number of peers, and the geographic concentration that influences reinsurance purchase in the Property and Casualty insurance industry in China. Financial factors that influence the hedging level are also included. The data are hand collected from 2008 to 2015 from the Chinese Insurance Yearbook. Using panel data analysis techniques, the results are interesting. The capital structure shows a significant negative relationship with the hedging level. Group has a negative relationship with reinsurance purchases. Assets exhibit a negative relationship with hedging levels. The hedging level has a negative relation with the individual hedging level. Insurers have less incentive to hedge because it provides less resource than leverage. The study also robustly investigates the strategic risk management separately by the financial crises.
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Dirk Spennemann, David Cornforth and John Atkinson
This paper seeks to examine the spatial patterns of student use of machines in each laboratory to whether there are underlying commonalities.
Abstract
Purpose
This paper seeks to examine the spatial patterns of student use of machines in each laboratory to whether there are underlying commonalities.
Design/methodology/approach
The research was carried out by assessing the user behaviour in 16 computer laboratories at a regional university in Australia.
Findings
The study found that computers within easy access to doors are disproportionately more used than computer that are further away, irrespective of other “incentive” such as windows, wall anchoring or security camera positioning.
Practical implications
This paper has implications for any division within a university environment responsible for the spatial positioning of computer in a student laboratory.
Originality/value
Previous research of the use of computer laboratories in schools and universities has focussed on educational issues. None of the studies so far have considered matters of situational territoriality and spatial patterning that govern human behaviour.
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Christian Imdorf, Kristinn Hegna, Verena Eberhard and Pierre Doray
How do institutional settings and their embedded policy principles affect gender-typed enrolment in educational programmes? Based on gender-sensitive theories on career choice, we…
Abstract
How do institutional settings and their embedded policy principles affect gender-typed enrolment in educational programmes? Based on gender-sensitive theories on career choice, we hypothesised that gender segregation in education is higher with a wider range of offers of vocational programmes. By analysing youth survey and panel data, we tested this assumption for Germany, Norway and Canada, three countries whose educational systems represent a different mix of academic, vocational and universalistic education principles. We found that vocational programmes are considerably more gender-segregated than are academic (e.g. university) programmes. Men, more so than women, can avoid gender-typed programmes by passing on to a university education. This in turn means that as long as their secondary school achievement does not allow for a higher education career, they have a higher likelihood of being allocated to male-typed programmes in the vocational education and training (VET) system. In addition, social background and the age at which students have to choose educational offers impact on the transition to gendered educational programmes. Overall, gender segregation in education is highest in Germany and the lowest in Canada. We interpret the differences between these countries with respect to the constellations of educational principles and policies in the respective countries.
The Foreign Corrupt Practices Act (FCPA) of 1977 and its amendment – the Trade and Competitive Act of 1988 – are unique not only in the history of the accounting and auditing…
Abstract
The Foreign Corrupt Practices Act (FCPA) of 1977 and its amendment – the Trade and Competitive Act of 1988 – are unique not only in the history of the accounting and auditing profession, but also in international law. The Acts raised awareness of the need for efficient and adequate internal control systems to prevent illegal acts such as the bribery of foreign officials, political parties and governments to secure or maintain contracts overseas. Its uniqueness is also due to the fact that the USA is the first country to pioneer such a legislation that impacted foreign trade, international law and codes of ethics. The research traces the history of the FCPA before and after its enactment, the role played by the various branches of the United States Government – Congress, Department of Justice, Securities Exchange commission (SEC), Central Intelligence Agency (CIA) and the Internal Revenue Service (IRS); the contributions made by professional associations such as the American Institute of Certified Public Accountants (AICFA), the Institute of Internal Auditors (IIA), the American Bar Association (ABA); and, finally, the role played by various international organizations such as the United Nations (UN), the Organization for Economic Cooperation and Development (OECD), the World Trade Organization (WTO) and the International Federation of Accountants (IFAC). A cultural, ethical and legalistic background will give a better understanding of the FCPA as wll as the rationale for its controversy.
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Partnerships with parents are an essential strategy for promoting children's healthy development. Partnerships, themselves, also comprise a context for promoting and sustaining…
Abstract
Partnerships with parents are an essential strategy for promoting children's healthy development. Partnerships, themselves, also comprise a context for promoting and sustaining mental health among adults and communities at large. We must foster parents' own development in order to support their role as fully participating partners in mental health promotion; such development guides their abilities and propensity to create and sustain growth‐enhancing environments. The Listening Partners Program is an example of a program that pursued such a goal.
This paper examines the role of professional associations, governmental agencies, and international accounting and auditing bodies in promulgating standards to deter and detect…
Abstract
This paper examines the role of professional associations, governmental agencies, and international accounting and auditing bodies in promulgating standards to deter and detect fraud, domestically and abroad. Specifically, it focuses on the role played by the US Securities and Exchange Commission (SEC), the American Institute of Certified Public Accountants (AICPA), the Institute of Internal Auditors (IIA), the Institute of Management Accountants (IMA), the Association of Certified Fraud Examiners (ACFE), the US Government Accounting Office (GAO), and other national and foreign professional associations, in promulgating auditing standards and procedures to prevent fraud in financial statements and other white‐collar crimes. It also examines several fraud cases and the impact of management and employee fraud on the various business sectors such as insurance, banking, health care, and manufacturing, as well as the role of management, the boards of directors, the audit committees, auditors, and fraud examiners and their liability in the fraud prevention and investigation.
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Although typologies of violence have become more common, relatively little attention has been given to Donald Black’s (1983) distinction between moralistic and predatory violence…
Abstract
Although typologies of violence have become more common, relatively little attention has been given to Donald Black’s (1983) distinction between moralistic and predatory violence. Moralistic violence is rooted in conflict; predatory violence is rooted in exploitation. We elaborate Black’s typology and show how it is similar to, but distinct from, other typologies of violence. We also address the criteria by which typologies of any kind might be judged. Borrowing from the literatures on typologies and on standards of scientific theory, we argue that explanatory typologies should be evaluated according to four criteria: the degree to which they are powerful, theoretical, general, and parsimonious. Applying the criteria to Black’s typology, we argue that the distinction between moralistic and predatory violence is an important contribution to the arsenal of the student of violence.