John J. Sikora Jr., Stephen P. Wink, Douglas K. Yatter and Naim Culhaci
To analyze the settled order of the US Securities and Exchange Commission (SEC) against TokenLot LLC (TokenLot), which was the SEC’s first action charging a seller of digital…
Abstract
Purpose
To analyze the settled order of the US Securities and Exchange Commission (SEC) against TokenLot LLC (TokenLot), which was the SEC’s first action charging a seller of digital tokens as an unregistered broker-dealer.
Design/methodology/approach
Analyzes the SEC’s order within the context of other recent actions by the SEC on cryptocurrencies and digital tokens and discusses future implications of the order in this area.
Findings
The SEC’s order against TokenLot as an unregistered broker-dealer was a logical next step in its enforcement activity in the cryptocurrency and digital token space.The order demonstrates that the SEC expects firms in the cryptocurrency space to use the well-established constructs of federal securities laws to evaluate their business activities to ensure those activities are legally compliant.
Originality/value
Practical guidance from experienced securities and financial services lawyers analyzing recent developments in a nascent area of SEC enforcement.
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Keywords
Stephen Wink, Anna Rienhardt, Brett M. Ackerman and Sean Miller
To analyze the Municipal Securities Rulemaking Board’s new rule outlining the standards of conduct and fiduciary duties applicable to municipal advisors.
Abstract
Purpose
To analyze the Municipal Securities Rulemaking Board’s new rule outlining the standards of conduct and fiduciary duties applicable to municipal advisors.
Design/methodology/approach
This article contains a summary of new MSRB Rule G-42 and identifies key areas where the final version of MSRB Rule G-42 differs from the initial proposal.
Findings
New MSRB Rule G-42 represents another significant milestone in the MSRB’s development of a comprehensive regulatory framework for municipal advisors mandated under the Dodd-Frank Wall Street Reform and Consumer Protection Act and imposes significant requirements on municipal advisors.
Originality/value
Practical guidance from experienced securities and financial services lawyers.
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Stephen Wink, Christopher Clark, Stefan Paulovic and Kathleen Whipple
To highlight recent enforcement actions by the SEC demonstrating the agency's increased focus on violations of Rule 105 of Regulation M and to provide guidance on how to avoid…
Abstract
Purpose
To highlight recent enforcement actions by the SEC demonstrating the agency's increased focus on violations of Rule 105 of Regulation M and to provide guidance on how to avoid becoming the target of such an SEC action.
Design/methodology/approach
Describes the SEC's 23 recent enforcement actions against firms for violations of Rule 105, explains the conduct prohibited by Rule 105 as well as the exceptions to the Rule, and provides advice on how firms can avoid a Rule 105 related SEC enforcement action.
Findings
In light of the SEC's recently announced zero-tolerance policy and the fact that Rule 105 does not require intent on the part of the short seller to engage in a prohibited transaction, firms should provide training to their employees regarding Rule 105, develop and implement policies and procedures to ensure compliance with Rule 105, and enforce those policies and procedures.
Originality/value
Practical explanation and guidance by experienced financial services lawyers.
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WHEN The Crock of Gold was first published in London in 1912, this extraordinary prose‐fantasy, described by a reviewer in The Times as ‘an inspired medley of topsy‐turvydom’, was…
Abstract
WHEN The Crock of Gold was first published in London in 1912, this extraordinary prose‐fantasy, described by a reviewer in The Times as ‘an inspired medley of topsy‐turvydom’, was hailed as a veritable masterpiece from the hands of a new poet of the same school with Yeats and Synge. That poet was, of course, James Stephens, the poet whom Sean O'Casey would later refer to as ‘the jesting poet with a radiant star in's coxcomb’, and to whom he dedicated, in 1949, his favourite play, Cock‐a‐Doodle Dandy. The reviewer in Punch at the time likened The Crock of Gold to ‘a fairy fantasy, elvish, grotesque, realistic, allegorical, humorous, satirical, idealistic, and poetical by turns … and very beautiful’.
The management of children′s literature is a search for value andsuitability. Effective policies in library and educational work arebased firmly on knowledge of materials, and on…
Abstract
The management of children′s literature is a search for value and suitability. Effective policies in library and educational work are based firmly on knowledge of materials, and on the bibliographical and critical frame within which the materials appear and might best be selected. Boundaries, like those between quality and popular books, and between children′s and adult materials, present important challenges for selection, and implicit in this process are professional acumen and judgement. Yet also there are attitudes and systems of values, which can powerfully influence selection on grounds of morality and good taste. To guard against undue subjectivity, the knowledge frame should acknowledge the relevance of social and experiential context for all reading materials, how readers think as well as how they read, and what explicit and implicit agendas the authors have. The good professional takes all these factors on board.
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Defining and describing research methodologies is difficult. Methodologies have similarities and resonances, and overlapping characteristics. Familiar labels of case study, action…
Abstract
Purpose
Defining and describing research methodologies is difficult. Methodologies have similarities and resonances, and overlapping characteristics. Familiar labels of case study, action research and ethnography may not be adequate to describe new and creative approaches to qualitative research. If we simply transfer old ways to new contexts, we risk limiting our understanding of the complexities of real life settings. The call to set aside old dualisms and devise new methodological approaches has been sounded. Accordingly, this article sets out to describe a fledgling new methodological approach, and how it was operationalized in a small‐scale study of digitally‐mediated classroom learning.
Design/methodology/approach
The methodology combines elements of action research and case study with an ethnographic approach. It was devised for a study of the use of Facebook as an educational resource by five dyslexic students at a sixth form college in north‐west England. Its flexibility and attention to detail enabled multiple data collection methods. This range of methods enabled meticulous analysis of many of the group's online and offline interactions with each other and with Facebook as they co‐constructed their group Facebook page.
Findings
Reflexively combining elements of case study, action research and ethnography thus helped capture the “connected complexities” (Davies) of this contemporary classroom setting. This is necessary if researchers are to obtain any meaningful understanding of how learning happens in such contexts.
Originality/value
The author hopes to contribute to the discourse on qualitative methodology and invites other researchers studying similar contexts to consider a similar approach.