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1 – 7 of 7Bradley J. Bondi, Charles A. Gilman, Kimberly C. Petillo-Décossard, John J. Schuster and Sara Ortiz
To explain a recent US Securities and Exchange Commission (SEC) administrative proceeding targeting a broker-dealer as part of the Commission’s continuing efforts to enforce…
Abstract
Purpose
To explain a recent US Securities and Exchange Commission (SEC) administrative proceeding targeting a broker-dealer as part of the Commission’s continuing efforts to enforce anti-money laundering (AML) regulations and reporting.
Design/methodology/approach
This article explores the factual and legal contours of a specific SEC administrative proceeding to better understand the affirmative steps the Commission expects of financial service providers as it relates to AML activities and reporting.
Findings
Given the SEC’s current enforcement focus, it is critical that financial institutions conduct their activities with a clear understanding of the AML regulations, investigatory expectations and related reporting requirements associated with the provision of brokerage and advisory services to US clients and customers.
Originality/value
This article highlights the SEC’s continuing interest in broker-dealer AML policies and compliance and provides analysis from experienced lawyers with expertise in financial services, securities and white collar crime.
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Helene R. Banks, Bradley J. Bondi, Charles A. Gilman, Elai Katz, Geoffrey E. Liebmann, Ross Sturman and Nicholas S. Millington
To explain the rule changes in Nasdaq’s new Listing Rule IM-5315-1, approved by the US Securities and Exchange Commission (SEC) on February 15, 2019, that permit direct listings…
Abstract
Purpose
To explain the rule changes in Nasdaq’s new Listing Rule IM-5315-1, approved by the US Securities and Exchange Commission (SEC) on February 15, 2019, that permit direct listings on Nasdaq without an initial public offering, similar to the New York Stock Exchange (NYSE) rule changes approved in 2018.
Design/methodology/approach
Explains the legislative and regulatory background, historic limitations on direct Nasdaq listings, and de-tailed provisions of Nasdaq’s new Listing Rule IM-5315-1.
Findings
The direct listing alternative to an IPO may appeal to cash-rich companies that do not need the publicity or new capital associated with a traditional IPO.
Originality/value
Expert analysis from experienced securities litigation and corporate governance lawyers.
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Bradley J. Bondi, David Slovick and Michael Wheatley
To provide an overview of the Commodity Futures Trading Commission’s (CFTC’s) new self-reporting and cooperation program.
Abstract
Purpose
To provide an overview of the Commodity Futures Trading Commission’s (CFTC’s) new self-reporting and cooperation program.
Design/methodology/approach
Summarizes the key features of the CFTC’s new cooperation program and the CFTC’s statement of its purpose in enacting the program; provides the authors’ views on the likely implications of the program for CFTC enforcement actions.
Findings
Whether the CFTC’s self-reporting and cooperation program will be a useful tool for deterring misconduct remains to be seen as the CFTC begins to implement it, but there are indications that it may encourage cooperation. If properly implemented, the program has the potential to benefit the CFTC and regulated parties significantly.
Originality/value
Practical insights on a new CFTC policy from experienced civil enforcement lawyers.
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Oliver James Bradley and Gloria Oforiwaa Botchway
The purpose of this paper is to identify the sustainability indicators disclosed by ten British Coffee Association corporate members in their sustainability reporting and examine…
Abstract
Purpose
The purpose of this paper is to identify the sustainability indicators disclosed by ten British Coffee Association corporate members in their sustainability reporting and examine whether the indicators correspond to the sustainability challenges faced by the coffee industry, as identified in the literature.
Design/methodology/approach
A normative account of sustainability challenges was developed based on a review of extant literature. A content analysis of the sustainability reports and/or Webpages of the companies was conducted to identify quantitative and qualitative sustainability indicators. Frequency and thematic analysis enabled the subsequent examination.
Findings
A total of 94 sustainability indicators (44 environmental, 30 social and 20 economic) were identified in company reporting. The indicators correspond to the sustainability challenges identified in the literature. In addition to broad challenges, indicators are used to communicate specific issues. A significant number (47) of single-use indicators were identified, communicating less frequently reported challenges. Some companies account for sustainability from bean to cup, attributed to crucial differences in organisational characteristics (degree of vertical integration). Furthermore, the findings highlight the discretionary nature of sustainability reporting, finding considerable variance in indicators disclosed.
Research limitations/implications
As this paper relies on self-reported corporate disclosures, it critically examines the reporting practices of organisations, as opposed to verifying the activities associated with their claims. The authors minimised subjectivity by reducing the interpretation of what constituted “an indicator” using a clearly agreed definition and multiple rounds of coding.
Practical implications
This paper examines the reporting practices of organisations, providing a useful insight and a competitor benchmark. By comprehensively examining the sustainability challenges faced by the coffee industry, it offers “sustainability context” that can be used by organisations to improve their accounting and reporting practices.
Social implications
This paper acknowledges and addresses social initiatives that call for the systematic development of practical and appropriate sustainability indicators that can become embedded in policy and decision-making, affecting the measurement of progress and responses to important sustainability challenges.
Originality/value
This paper presents the first systematic review of sustainability indicator disclosure in an industry that faces significant sustainability challenges.
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Melanie Randle and Nadia Zainuddin
Governments are increasingly marketising human services in developed countries, with the aim of giving individuals more choice and control over the support they receive…
Abstract
Purpose
Governments are increasingly marketising human services in developed countries, with the aim of giving individuals more choice and control over the support they receive. Marketisation effectively transforms “clients” into “consumers” who are exposed to competitive market conditions and the marketing strategies of service organisations. However, the heterogeneity amongst citizens leaves some segments of populations more vulnerable within marketised systems. The purpose of this study is to examine the impact of the marketisation of human services on the value delivered to consumers of disability services. Given that the nature of disabilities can vary greatly, the study also examines the impact of the degree of disability on value creation and destruction for disability service consumers.
Design/methodology/approach
Qualitative, individual-depth interviews were conducted with 35 participants: 17 were consumers of disability services (either because they have a disability or care for someone who does) and 18 were disability service providers (for example, managers of disability programmes).
Findings
Factors that influence value creation and destruction include quality and turnover of staff, organisation and communication of service providers, ability to advocate effectively, level of funding and accessibility of services. Heterogeneity amongst consumers is also identified as a key factor affecting the creation and destruction of value.
Originality/value
To the best of the authors’ knowledge, this is the first study to apply marketing techniques, such as market segmentation, to identify heterogeneity in relation to value creation and value destruction in the context of human services. It also considers the notion of consumer vulnerability, stemming from disability, as an important lens through which the outcomes of marketised human service systems can be evaluated.
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Huge gap exists between demand and supply of seeking health care leads to remain high maternal mortality in rural areas of Uttar Pradesh, India. The purpose of this paper is to…
Abstract
Purpose
Huge gap exists between demand and supply of seeking health care leads to remain high maternal mortality in rural areas of Uttar Pradesh, India. The purpose of this paper is to make an effort in this direction.
Design/methodology/approach
This paper draws on Three Delays Model to understand the reasons behind poor maternal health outcomes among 964 currently married women aged 15–34, given birth in last two years preceding the survey including six case studies in poor settings of Northern India.
Findings
Receiving minimum four antenatal care and identifying the severity of obstetric complications during pregnancy was quite low (7 and 34 per cent, respectively). Major delay in seeking care in district was decision delay (average four days) followed by arranging transportation (average 4 hours) and start treatment within an hour after reaching health facility. Health services and trained human resources are mainly concentrated at towns and poor supply of drugs and equipment in labour room is always in demand at primary level in the district in area. Delays in decision making, travel and treatment compounded by ignorance of obstetric complications and poor healthcare infrastructure are the major contributing factors of maternal deaths in the district in area.
Originality/value
Interventions to improve timely seeking of medical care for obstetric complications may need to more effectively target husbands and family members rather than women. Strengthening of primary and secondary level facilities and timely referral to tertiary level care can play a crucial role in improving obstetric care in the district in rural areas.
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Deepak M.D. and Gangadhar Mahesh
Harnessing the power of knowledge management is important for minimizing accidents occurring at construction projects. Yet, knowledge management is a neglected dimension when…
Abstract
Purpose
Harnessing the power of knowledge management is important for minimizing accidents occurring at construction projects. Yet, knowledge management is a neglected dimension when developing safety culture in the construction industry. Therefore, the purpose of this paper is to develop a knowledge-based safety culture questionnaire and examine its validity and reliability in the Indian context.
Design/methodology/approach
A questionnaire survey was formulated after identifying 69 influencing factors from a thorough literature review. In total, 210 valid responses were obtained from key stakeholders operating in Indian construction industry. Reliability and validity of the measurement scale were examined by factor analysis and inter-item correlation test. Comparison of knowledge-based safety culture scores across several demographic profiles of the respondents was utilized for testing discriminant validity.
Findings
Results suggest that the new instrument appears to be a reliable, valid and sensitive instrument that will contribute in examining the effect of key factors that influence the importance of the knowledge dimension toward developing safety culture in the construction industry.
Originality/value
The measurement tool developed in this study focuses on considering the importance of knowledge management in enhancing safety culture of the construction industry. This instrument can be utilized to compare the level of safety culture among key stakeholders of construction projects. This paper can contribute to the promotion of safety theory in Indian construction industry and provide practical implications for construction enterprises when they engage in improving safety conditions in their organizations.
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