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During 2003, compensation practices for the retail sale of mutual funds came under fire. Recent revelations about failures in the processing of mutual fund breakpoints had triggered a more in‐depth investigation into mutual fund marketing and compensation practice by securities regulators, Congress, and the states. This article focuses on the regulation of sales compensation practices primarily as it affects a broker‐dealer selling mutual funds in the retail market. It addresses the regulatory framework for three key compensation practices: (1) the use of non‐cash compensation in connection with mutual fund sales; (2) marketing and compensation arrangements providing enhanced compensation to a selling firm as well as to its sales representatives for the promotion of certain fund securities over others, such as proprietary funds over non‐proprietary funds, preferred funds over non‐preferred funds, and Class B shares over Class A shares; and (3) the use of commissions for mutual fund portfolio trades as an additional source of selling compensation for selling firms, a practice sometimes referred to as ”directed brokerage.“

Every employer, unless he or she has no pool of applicants or potential applicants to choose from, engages in hiring choices. While the hiring process may vary, both from one employer to another and from one job to another, some form of screening occurs. In recent years, students of management have noted the proliferation of screening practices in the hiring process, especially in bringing new technologies such as medical and drug testing procedures. Testing and other screening practices, while wide‐ranging both with respect to their ends and means, have raised consistent patterns of concern among job‐seekers, public policy makers and managers themselves. In this monograph a variety of methods of screening and issues of public policy raised by screening procedures are discussed. An overview of United States law regulating the screening process is provided, together with future directions in the area of screening in the US.

The purpose of this paper is to offer a novel perspective on resale pricing in franchising, i.e. from a franchisee perspective, by combining legal and managerial considerations in the European context. The objective is to assess franchisee perceptions regarding resale pricing in their chains.

The authors adopt a qualitative approach and use 46 in-depth interviews with franchisees covering retail and service industries in the French market.

Many of the interviewed franchisees believe that joining a franchise chain involves respecting the recommended resale prices. For some of the franchisees, in link with the chain uniformity, imposing uniform resale prices throughout the chain represents a strength, because customers who visit different stores within the franchise chain expect to find consistent pricing. Moreover, many franchisees consider that their franchisors have some know-how that they use to set correct resale prices, taking into account the profit margin.

This research contributes to the literature on resale pricing in franchising, as well as the franchising literature in general, by combining legal and managerial considerations, adopting a franchisee perspective, covering retail and service industries and focusing on French and European markets.

This research can be viewed by franchise experts, franchisors, franchisees and franchisee candidates as a synthesis of resale price-related legal aspects, adopted practices and potential conflicts in franchise chains in the French market. It also highlights price-related practices to be avoided to prevent potential conflicts.

The subject of resale pricing in franchise chains is a hot topic, because of its link with customer attraction, chain uniformity, franchisor know-how, franchisee autonomy and the legal dimension.

To alert high frequency trading firms to the increased regulation and prosecution of manipulative trading practices during 2014 and early 2015.

Reviews four significant proceedings against high frequency trading firms (and/or individuals employed by such firms) and other developments from the relevant government agencies as a possible preview of the enforcement and prosecution of high frequency trading practices in 2015. Provides advice to high frequency trading firms on how to decrease the risk of regulatory or criminal actions against them in this changing environment.

Although the focus on high frequency trading has only recently begun to intensify, firms should be aware of the increased enforcement activity of the past year. These actions, both regulatory and criminal, have already resulted in large penalties and have helped initiate a strengthening of rules and regulations regarding manipulative trading practices, of which firms need to be aware and stay current.

High frequency trading firms should be aware of the recent regulatory and criminal actions in order to better evaluate their own practices and controls, to ensure that their trading patterns do not resemble manipulative practices, and to avoid similar actions.

Practical guidance from experienced litigators and securities regulatory lawyers, including a former SEC Assistant Chief Litigation Counsel and a former federal prosecutor, that consolidates and describes several recent actions and developments in one piece.

This paper aims to investigate by what means and to what ends waste, its materiality and its symbolic meanings are legally regulated in built environments.

The authors investigate the entanglement of law and the built environment through an analysis of waste-related legal case studies in the Canadian context. They investigate a notable Supreme Court case and three examples of Canadian cities’ by-laws and municipal regulations (particularly regarding informal recycling practices). They mobilize what Valverde calls the work of jurisdiction in their analysis.

The authors argue that the regulation of waste and wasting behaviours is meant to discipline relationships between citizens and governments in the built environment (e.g. mitigating nuisance, facilitating service provision and public health, making individuals more visible and legible in the eyes of the law and controlling and capturing material flows). They find that jurisdiction is used as a flexible and malleable legal medium in the interactions between law and the built environment. Thus, the material treatment of waste may invoke notions of constraint, freedom, citizenship, governance and cognate concepts and practices as they are performed in and through built environments. Waste storage containers appear to operate as black holes in that they evacuate property rights from the spaces that waste regularly occupies.

There is scant scholarly attention paid to legal orderings of waste in built environments. This analysis reveals the particular ways that legal interventions serve to construct notions of the public good and the public sphere through orderings of waste (an inherently indeterminate object).

The purpose of this study is to compare the impact of religion on the financial performance of conventional and Islamic banks in the framework of stakeholders’ theory.

Few studies have focused on studying the impact of religion on banking performance. Although religion represents an external governance mechanism for financial institutions, by using the generalized method of moments (GMM), this topic constitutes a research opportunity. The already modeled variables are collected from 76 countries located on 5 continents. The data were collected from DATASTREAM, banks’ annual reports, WIKIPEDIA and World Bank. It concerns 210 banks of each type during the period (2010–2020).

The author retained that religion negatively affects the financial performance of both conventional and Islamic banks. More specifically, results showed that religion affected the liquidity and solvency of two bank types. It also affected conventional banks’ profitability and efficiency.

I summarized the theoretical contribution in the integration of a new original governance category to enhance its presence with impacts directly affecting the banks’ financial performance. Empirically, the study can be seen as a compass for all stakeholders to consider environmental, behavioral and doctrinal factors in studying the financial performance evolution and to become more competitive in the banking market.

Although conventional banks located in developed countries are different from those existing in emerging countries and Islamic banks located in developed countries are different from those existing in emerging countries, I carried out a diversified study in the global context. Referring to the comparative literature review between conventional and Islamic banks, the study was the first conditional research that compared the impacts of religion on the financial performance of conventional and Islamic banks.

Should the polygraph test be used in industry? The considerations involved are presented and assessed against practical examples.

The Howard Shuttering Contractors case throws considerable light on the importance which the tribunals attach to warnings before dismissing an employee. In this case the tribunal took great pains to interpret the intention of the parties to the different site agreements, and it came to the conclusion that the agreed procedure was not followed. One other matter, which must be particularly noted by employers, is that where a final warning is required, this final warning must be “a warning”, and not the actual dismissal. So that where, for example, three warnings are to be given, the third must be a “warning”. It is after the employee has misconducted himself thereafter that the employer may dismiss.

The purpose of this paper is to identify the characteristics of environmental awards and analyze their relevance to the environmental commitment of organizations.

Extensive desk research, using secondary data and multiple documental sources on the environmental awards offered in Brazil.

Concerning their characteristics, awards are voluntary, do not have a standard set of guiding principles or regulations, can be offered by any desiring entity (accredited or not) and usually have qualitative evaluation methods. Regarding the contributions to social responsibility, organizations have been using awards to increase the visibility of their environmental efforts, reinforce their environmental image and disseminate environmental values and behaviors, especially within specific groups or communities. Consequently, it is argued why awards’ promotion or winning can be considered additional evidence of environmental commitment but should not be taken as a definite measure of environmental performance.

This paper provides a new perspective about awards, understanding them as types of recognition, and therefore, comparable to certification and labeling. Another contribution is gathering of awards’ characteristics, which can help analyze awards across several other fields, such as social responsibility, quality, innovation and public services.

This paper aims to analyse sanctions regimes of multilateral development banks and to examine some of the topical issues surrounding sanctioning practices of these institutions. Under the Agreement for Mutual Enforcement of Debarment Decisions (the “Mutual Enforcement Agreement”), sanctions covering the sanctionable practices that are imposed and made publicly available by any participating MDB may be enforced by other participating MDBs. This dramatically amplifies the impact of debarment decisions taken by any one of the participating MDBs, while affirming the MDBs’ commitment to combating the sanctionable practices. Consequently, companies will need to invigorate their procedures with a view to managing their risks not only in relation to national legislation, but also in relation to the MDBs’ sanctioning frameworks, which have much broader geographic scope than that of national legislation. This paper first provides an overview of the tenets established by the Mutual Enforcement Agreement. Further, as all MDBs maintain their own sanctions mechanisms, the paper analyses individual sanctions regimes of the WBG, EBRD and ADB. The paper then describes the types of sanctions that may be imposed by MDBs and examines some of the challenging issues surrounding the banks’ sanctions practices.

This paper draws on the experience of senior lawyers who were intimately involved in the set-up of the sanctions regimes at the World Bank, the International Finance Corporation, the EBRD and the ADB and are currently involved in the work of sanctions boards at their respective institutions.

Companies and individuals dealing with MDBs should be aware of the fact that, as a result of the Mutual Enforcement Agreement, the profile of MDBs’ fraud and corruption cases has been raised significantly and could result in global sanctions for prohibited practices in a single country. Consequently, a company engaging in a prohibited practice in its business dealings with one MDB might find itself unable to obtain financing from the four other MDBs participating in the Mutual Enforcement Agreement, and furthermore its debarment would be published by all five participating MDBs (subject to the above-described limitations of ADB’s publication regime). As MDBs continue to develop their sanctions regimes, greater harmonisation among sanctions processes is to be expected and companies doing business with MDBs should, at the very minimum, ensure that their compliance and ethics programmes are up to date, both as a preventative measure or, if wrongful actions have already taken place, as a means of mitigating the severity of possible sanctions.

A lot has been written about the consequences of criminal convictions for bribery and other corrupt practices. However, much less attention has been paid to the evolution of anti-corruption policies and procedures which have been developed by a group of leading MDBs. In fact, for many corporates, sanctions regimes of MDBs remain unchartered territory, even though these sanctions proceedings can have far-reaching business consequences. This paper will, therefore, be of interest to all companies directly or indirectly involved with MDB-financed projects, as they need to be alert to the scope of MDB sanctions proceedings and the wide-ranging adverse business consequences that may result from any enforcement action.