Search results

1 – 10 of 24
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Article
Publication date: 5 September 2016

Paul M. Architzel, Dan M. Berkovitz, Gail Bernstein, Seth Davis and Ted Serafini

To analyze the differences between the SEC’s newly adopted final business conduct rules for security-based swap dealers and major security-based swap participants under Section…

64

Abstract

Purpose

To analyze the differences between the SEC’s newly adopted final business conduct rules for security-based swap dealers and major security-based swap participants under Section 15F(h) of the Securities Exchange Act of 1934 and the parallel rules promulgated under the Commodity Exchange Act by the CFTC with respect to swap dealers and major swap participants.

Design/methodology/approach

This article discusses select rules under each regulatory regime and highlights the major differences and potential effects of each.

Findings

This article concludes that while the SEC’s intent was to harmonize its final rules with the parallel CFTC rules, there are substantive differences between the two sets of rules that firms should consider when deciding how to structure their security-based swap dealer activities.

Originality/value

This article contains insightful analysis of the newly adopted SEC Business Conduct Rules and highlights some of the ways firms will likely be affected moving forward.

Details

Journal of Investment Compliance, vol. 17 no. 3
Type: Research Article
ISSN: 1528-5812

Keywords

Access Restricted. View access options
Article
Publication date: 25 November 2013

Paul M. Architzel, Gail C. Bernstein and Mahlet Ayalew

The Dodd-Frank Act added a number of prohibited trading practices on futures markets and swap execution facilities. In May 2013, the CFTC issued guidance on how it intends to…

3104

Abstract

Purpose

The Dodd-Frank Act added a number of prohibited trading practices on futures markets and swap execution facilities. In May 2013, the CFTC issued guidance on how it intends to interpret these prohibitions. Persons trading on these facilities should understand the guidance and how it affects their trading activities. This article aims to focus on the issues.

Design/methodology/approach

The article analyzes the prohibitions and the CFTC's related guidance using a question and answer format to make it accessible to affected market participants.

Findings

The new trading prohibitions include spoofing, violating bids and offers, and recklessly disregarding an orderly close. Different standards of scienter (state of mind) apply to each. Intent is required to violate the anti “spoofing” provision; recklessness is required to violate the disregarding the orderly close provision, but no finding of intent is required for violating bids or offers. The CFTC will evaluate the facts and circumstances at the time of the conduct and look at the available information and what the person knew or should have known.

Practical implications

The Guidance is applicable to all persons who trade on futures markets or on the coming swap execution facilities (SEFs). In particular, persons trading on these facilities should be aware that certain trading practice prohibitions may be violated without a finding of intent.

Originality/value

The antidisruptive prohibitions and guidance are new. Market participants will need to understand and take care to ensure that their trading conduct does not run afoul of these new provisions of the Act and the Commission's interpretive guidance thereunder.

Details

Journal of Investment Compliance, vol. 14 no. 4
Type: Research Article
ISSN: 1528-5812

Keywords

Access Restricted. View access options
Article
Publication date: 6 April 2012

Douglas J. Davison, Thomas W. White, Gail C. Bernstein, Michael R. Dube and Arian M. June

The purpose of this paper is to point out similarities and differences between the CFTC's and the SEC's final whistleblower incentive and protection rules, both recently adopted…

122

Abstract

Purpose

The purpose of this paper is to point out similarities and differences between the CFTC's and the SEC's final whistleblower incentive and protection rules, both recently adopted as mandated by the Dodd‐Frank Act.

Design/methodology/approach

The paper explains the purpose of the rules, a dissenting CFTC vote concerning internal reporting, and a few notable differences between the CFTC's and the SEC's rules, and recommends compliance measures that companies should take.

Findings

Given the incentives that both agencies' programs give to whistleblowers to report violations directly to the regulators, a company subject to either program would be well advised to enhance its culture of compliance, bolster its internal reporting processes, and encourage employees to utilize internal reporting mechanisms.

Originality/value

The paper provides expert guidance from experienced financial services lawyers.

Details

Journal of Investment Compliance, vol. 13 no. 1
Type: Research Article
ISSN: 1528-5812

Keywords

Available. Content available
Article
Publication date: 6 April 2012

Henry A. Davis

188

Abstract

Details

Journal of Investment Compliance, vol. 13 no. 1
Type: Research Article
ISSN: 1528-5812

Available. Content available
Article
Publication date: 25 November 2013

Henry A Davis

168

Abstract

Details

Journal of Investment Compliance, vol. 14 no. 4
Type: Research Article
ISSN: 1528-5812

Access Restricted. View access options
Book part
Publication date: 11 July 2007

E. Michael Schauerte

Samezō Kuruma's career as a Marxist economist spans a period of roughly six decades, stretching from the beginning of the 1920s, when Marxism was quickly taking root in Japan, up…

Abstract

Samezō Kuruma's career as a Marxist economist spans a period of roughly six decades, stretching from the beginning of the 1920s, when Marxism was quickly taking root in Japan, up to the early 1980s, when the nearly hegemonic influence Marxist scholars had enjoyed in the postwar period was on the wane.1 Kuruma was born in 1893 in Okayama prefecture, west of Osaka. As the eldest son of a prosperous paper merchant, Kuruma was expected to take over the business one day, which did not interest him. Although not eager to become a capitalist, the study of capitalism attracted Kuruma early on, spurred by reading The Wealth of Nations at the age of seventeen. In 1914, Kuruma entered prestigious Tokyo Imperial University (now Tokyo University), where he had intended to study economics but switched to political science after finding the economics courses uninteresting.2 Graduating in the spring of 1918, he found a job working for Sumitomo Bank in Osaka. Kuruma had been assured that the job would afford him an opportunity to pursue economic research, perhaps related to China, but his duties turned out to be far more mundane. He soon realized that he was not at all suited to a career in banking.

Details

Transitions in Latin America and in Poland and Syria
Type: Book
ISBN: 978-1-84950-469-0

Available. Content available
Book part
Publication date: 8 June 2020

Rupert Ward

Free Access. Free Access

Abstract

Details

Personalised Learning for the Learning Person
Type: Book
ISBN: 978-1-78973-147-7

Access Restricted. View access options
Article
Publication date: 10 February 2012

Gail Thornburg and W. Michael Oskins

Describing musical pieces, whether sound recordings, scores, librettos, videos, has always involved cataloger interpretation and judgment. There is considerable variation in…

829

Abstract

Purpose

Describing musical pieces, whether sound recordings, scores, librettos, videos, has always involved cataloger interpretation and judgment. There is considerable variation in records created for exactly the same item. And there is never “proof” that two records which seem to describe the same item actually do. This paper aims to address this issue.

Design/methodology/approach

This paper describes some of the challenges encountered in developing software for matching music records, and some approaches to making the software reliable.

Findings

The paper finds that matching can be used successfully to create GLIMIR clusters in the WorldCat database. Work is needed in several areas to complete the implementation, but intermediate results are promising.

Originality/value

This implementation will allow end‐user applications to collocate resources, to improve discovery and delivery in a complex bibliographic universe

Details

OCLC Systems & Services: International digital library perspectives, vol. 28 no. 1
Type: Research Article
ISSN: 1065-075X

Keywords

Access Restricted. View access options
Book part
Publication date: 8 April 2015

Michele Alacevich, Pier Francesco Asso and Sebastiano Nerozzi

This paper discusses the American debate over price controls and economic stabilization after World War II, when the transition from a war economy to a peace economy was…

Abstract

This paper discusses the American debate over price controls and economic stabilization after World War II, when the transition from a war economy to a peace economy was characterized by bottlenecks in the productive system and shortages of food and other basic consumer goods, directly affecting the living standard of the population, the public opinion, and political discourse. Specifically, we will focus on the economist Franco Modigliani and his proposal for a “Plan to meet the problem of rising meat and other food prices without bureaucratic controls.” The plan prepared by Modigliani in October 1947 was based on a system of taxes and subsidies to foster a proper distribution of disposable income and warrant a minimum meat consumption for each individual without encroaching market mechanisms and consumers’ freedom. We will discuss the contents of the plan and its further refinements, and the reactions it prompted from fellow economists, the public opinion, and the political world. Although the Plan was not eventually implemented, it was an important initiative for several reasons: first, it showed the increasing importance of fiscal policy among postwar government tools of intervention in the economic sphere; second, it showed a third way between direct government intervention and full-fledged laissez faire, in tune with the postwar political climate; third, it proposed a Keynesian macroeconomic approach to price and income stabilization, strongly based on econometric and microeconomic foundations. The Meat Plan was thus a fundamental step in Modigliani’s effort to build the “neoclassical synthesis” between Keynesian and Neoclassical economics, which would deeply influence his own career and the evolution of academic studies and government practices in the United States.

Access Restricted. View access options
Article
Publication date: 1 January 2004

Michael S. Minor, Tillmann Wagner, F.J. Brewerton and Angela Hausman

Local and regional entertainers typically perform without a star performer or national recognition. These performers are often an incidental backdrop for the festivities. Is…

5634

Abstract

Local and regional entertainers typically perform without a star performer or national recognition. These performers are often an incidental backdrop for the festivities. Is audience satisfaction with the group more than a summation of the satisfaction with individual performers; do factors surrounding the performance aid in determining audience satisfaction? Answers to these questions may allow event planners to engage performers likely to increase event success. This paper develops a model of audience satisfaction with live performances, which began using a theory developed by Grove et al. in 1992. This theory was modified as a result of further conceptualization, qualitative data analysis, and survey results. Results suggest consumers judge performances as the sum of several components, including both elements of the performance and the setting.

Details

Journal of Services Marketing, vol. 18 no. 1
Type: Research Article
ISSN: 0887-6045

Keywords

1 – 10 of 24
Per page
102050