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The purpose of this paper is to explain and interpret the Securities and Exchange Commission's (SEC's) recently announced charges against 23 firms for violation of short selling restrictions set out in Rule 105 under Regulation M of the Securities Exchange Act of 1934.

The paper explains the requirements of and exceptions to Rule 105; shows how an increasing number of enforcement cases have had their origins in SEC staff inspections; and recommends internal training and policies and procedures to ensure that firms comply with the rule.

Rule 105 in general prohibits short selling a security within a specified period of time prior to the purchase of that security in a follow-on or secondary firm commitment offering.

Vigilance over internal compliance programs is increasingly important to avoid violating applicable legal requirements such as those set out in Rule 105 and, more importantly, a potential enforcement action over witting or unwitting compliance violations.

The paper provides practical guidance from experienced securities lawyers.

Purpose: One of the objectives of this research was to identify whether “mad”, “bad” and “sad” frames, identified in modern news reporting in other Western nations, are also evident in historical newspapers in New Zealand, a nation geographically distant. Methodology/approach: Qualitative content analysis was used to analyze reporting of multiple-child murders in New Zealand between 1870 and 1930. Content was sourced from a digitized newspaper database and identified media frames were analyzed under the categories of “mad”, “bad” and “sad”. Findings: Historical New Zealand media constructed “mad,” “bad,” and “sad” frames for the killers, however, instead of being classified with a single frame many killers were portrayed using a combination of two or even three. In some cases, media ignored facts which could have provided an alternative portrayal of the killers. In other cases, no obvious frames were employed. Research limitations: This research does not include analysis of media frame building in modern news reporting. Originality/value: Media construction of frames for multiple-child killers in historical New Zealand news reporting has not been explored before.

This article describes the Records and Information Management Training Course run for the first time at the University of Glasgow in autumn 1996. Developed as a joint initiative between The Royal Bank of Scotland and the University of Glasgow. It was aimed at those working in the field without formal qualifications. In the article the author describes the background to the project, gives an overview of the course itself, summarises the feedback and evaluation and outlines the future for the course and its delegates.