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To describe the steps taken by the SEC to shorten the standard settlement cycle for most broker-dealer transactions from three business days to two business days after the trade date.

Provides insight into a recent area of focus for SEC regulators and describe the SEC’s efforts to improve the efficiency of and reduce risks associated with the US national clearance and settlement system.

Industry participants must continue to work toward an migration date from T+3 to T+2 on September 5, 2017. In addition, numerous corresponding rule changes have been made or are expected across other regulatory regimes, including other federal regulators and self-regulatory organizations. Industry participants should monitor communications from these organizations closely for guidance about regulatory updates related to T+2.

Practical regulatory guidance regarding SEC operational requirements for the US national clearance and settlement system and the impact on related SEC regulations from experienced securities lawyers.

This paper aims to study the drug launch strategies and their effects on new drug performance in an intensely competitive emerging pharmaceutical market such as the one in China.

Data on market share, sales, related firm size and annual profit were obtained for the period, 2004-2008. Profile deviation and cluster analysis approaches were applied in this study.

There is a significant effect of an optimal launch strategy on new drug performance given the respective resource availability and the market environment situations.

The study suggests that multi-national corporations may prove resilient in the emerging economies through both innovative and cost-driven offerings in different therapeutic categories.

This research is unique in studying the drug launch strategies across both foreign firms and local firms in a competitive emerging pharmaceutical market.

ABERDEEN, the “Granite City,” the “Silver City by the Sea,” the great headquarters of the grey granite trade, and one of the busiest and most influential mercantile cities in Scotland, has a name which is known throughout the civilized world, and a fame which has penetrated to nearly every quarter of the habitable globe. The writing of all that might legitimately be written concerning this remarkable, and in many cases unique, community of “ hard‐headed Aberdonians ” (as they are usually styled), would fill many large volumes, and as we have neither the time nor the space for the compilation of such a work of history and description as this would imply, our readers must be content with an unpretentious historical survey of what is of more immediate interest to them, viz. : the chief libraries belonging to the city of Aberdeen. These are two in number—the Library of the University and the Public Library.

MR. JOHN BURNS, President of the Local Government Board, speaking on the Housing of the Working Classes Bill before the Standing Committee of the House of Commons, on 13th May, is reported to have said that “he believed the time had come when men were tired of drenching the country with Public Libraries, and were beginning to realise that small gardens, parks and open spaces were infinitely better for the people.” We do not contend for one moment that more parks and open spaces are not wanted for the use of the people, but that these should be provided in place of Public Libraries is certainly another matter. If more open spaces be necessary for the physical well‐being of the race, surely libraries are quite as much a necessity for the intellectual equipment of the people. And Public Libraries, if used in an intelligent manner, will certainly help those who use the parks to appreciate their beauties all the more. We can, perhaps, forgive Lord Rosebery for his recent criticisms on libraries, because by reason of his position, and having the great advantage of owning a fine library, he has not really experienced the need for the help a Public Library affords. It is, therefore, an easy matter to criticise from his point of view. But such criticism from John Burns, the self‐made man, and essentially a man from the ranks of the people, is another matter. He is the man who must have found Public Libraries useful to him in his earlier days; indeed, one seems to remember reading somewhere, a short time ago, that Mr. Burns gave an address in which he publicly stated that he owed much to Public Libraries for the help he had received through their agency. We earnestly hope that Mr. Burns did not intend to make so sweeping an assertion as his present words imply. From the point of view of librarianship such drastic criticism as this from such an one as Mr. Burns appears to us to be of serious import, especially as there seems to be a half‐veiled sting in his words which is unduly emphasised by the inclusion of the word “infinitely”—that “open spaces were infinitely better for the people” than Public Libraries. It is tantamount to saying that our work as librarians is of little value or that we have failed in our mission, either of which is very wide of the mark.

OUR readers will, we trust, appreciate our double souvenir number issued in connection with the Library Association Conference at Glasgow. Special features are the articles on the Mitchell Library, Glasgow, 1874–1924, by a member of the staff, Mr. J. Dunlop, and one on the Burns Country, by Mr. J. M. Leighton, of Greenock Public Library. We printed the provisional programme in our July issue and as we go to press have little to add to the particulars there given, except to compliment the Library Association and the Local Reception Committee on the excellent programme arranged for the occasion, from both the professional and social point of view.

HIS holidays over, before the individual and strenuous winter work of his library begins, the wise librarian concentrates for a few weeks on the Annual Meeting of the Library Association. This year the event is of unusual character and of great interest. Fifty years of public service on the part of devoted workers are to be commemorated, and there could be no more fitting place for the commemoration than Edinburgh. It is a special meeting, too, in that for the first time for many years the Library Association gathering will take a really international complexion. If some too exacting critics are forward to say that we have invited a very large number of foreign guests to come to hear themselves talk, we may reply that we want to hear them. There is a higher significance in the occasion than may appear on the surface—for an effort is to be made in the direction of international co‐operation. In spite of the excellent work of the various international schools, we are still insular. Now that the seas are open and a trip to America costs little more than one to (say) Italy, we hope that the way grows clearer to an almost universal co‐working amongst libraries. It is overdue. May our overseas guests find a real atmosphere of welcome, hospitality and friendship amongst us this memorable September!

MR. ALLAN BARNS‐GRAHAM, of Craigallian, Milngavie, has sent us a copy of a letter, addressed by him to the Secretary of the Scottish Agricultural Organisation Society and printed in pamphlet form, which contains a number of points of considerable importance. MR. BARNS‐GRAHAM observes that Bran and “Thirds” play a most important part in the rearing and feeding of cattle, pigs, and poultry, and in the production of milk; that these two products ought to be used to a much greater extent than they are now; that large quantities are annually exported from this country; and that the supplies ought to be jealously guarded. He expresses the hope that the Agricultural Organisation Societies of Great Britain and Ireland will in no way encourage the manufacture of condensed milk—on the ground that it is not in the interest of the public health, nor in the interest of agriculture to encourage the manufacture of any article of food which can be made to keep indefinitely by artificial means. This appears to us to be a somewhat strange position to take up, unless the author's intention is to condemn the practice of keeping food products by means of chemical preservatives—in which case we agree with him. But the proper preservation of many food products by legitimate and harmless methods, not involving the use of chemicals or of other objectionable devices, is surely permissible and valuable to the community. Properly prepared and sterilised condensed milk is a very useful commodity if it is what it purports to be. In this connection we may say, however, that condensed milk containing large quantities of added sugar ought not to be sold as “condensed milk,” but as “condensed sweetened milk,” or “condensed milk and sugar”—the proportion of added sugar being prominently disclosed; while, in our view, the sale of “condensed sweetened; ‘separated,’ or ‘machine‐skimmed’ milk” ought to be prohibited altogether.

The use of boron compounds or other preservatives of the nature of drugs in cream is alleged to be necessary mainly for two reasons, namely, long distance transit leading to a considerable lapse of time between despatch and consumption, and the uncertainty attaching to the disposal of consignments of perishable and valuable material in a fresh or apparently fresh condition.

To optimise protection from fire afforded to the head, an investigation into layering of firefighters' hoods was undertaken. Hoods made from 1 to 4 layers of Kermel/FR Viscose (50 per cent blend) were flame challenged for up to 10 seconds (53 kW m⁻² to 85 kW m⁻²) on a manikin head. Protection was increased with more layers. After four seconds of flame it was predicted that 74 per cent of the head suffered 2° or 3° burns with a 1‐ply hood. This fell to 59 per cent and 45 per cent respectively, when a breathing apparatus mask and helmet were also worn. For a 4‐ply hood corresponding predicted burns fell to 13 per cent, 8 per cent and & 8 per cent. Between 50 per cent to 67 per cent of these reductions occurred using a 2‐ply hood, and 80 per cent with 3‐ply. In conclusion, the most appropriate benefit was gained by adopting a 2‐ply hood. Three or more layers interfered with helmet fitting and communications, and offered little increased benefit.