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1 – 10 of 18The implementation of the Directive 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of…
Abstract
Purpose
The implementation of the Directive 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing resulted in the enactment by the Polish Parliament of the Act of March 1, 2018, on the prevention of money laundering and terrorist financing. One of the most important issues identified in the Act was the establishment of the Central Register of Beneficial Owners. The purpose of this paper is to critically analyze the functioning of the Register in Poland from the perspective of three years since its establishment. The text presents the most important problems faced by reporting institutions and obliged entities due to discrepancies in the interpretation of the Act’s provisions – especially in terms of the definition of a beneficial owner.
Design/methodology/approach
The basic research approach was a comparative content analysis method. The objects of analysis included Polish Laws, Directive of the European Parliament and the Council (EU) 2015/849 and the judgment of the Court of Justice of the European Union. The theoretical legislative assumptions contained in the Acts were compared with reports, studies and communications prepared by public and private institutions. This made it possible to draw conclusions regarding the causes of problems with the functioning of the Register in Poland.
Findings
The results of the research showed that the ambiguity of the definition of the beneficial owner leads to a number of problems on the part of reporting institutions, such as companies, foundations and associations. On the other hand, a large part of the data entered in the Register is questioned by obliged entities. The lack of personal data protection is also a problem. Consequently, this reduces the value of the Register as a tool that effectively mitigates the risk of money laundering.
Research limitations/implications
The research focused only on the functioning of the Central Register of Beneficial Owners in Poland. The subject of the analysis addressed problems with the definition of beneficial owner, issues of data quality and openness and the process of verifying the Register’s data. The technical aspects of the Register operation and the financial penalties imposed by public oversight institutions were not reviewed. Also, no comparison was made with other European Union (EU) member states that have implemented Directive of the European Parliament and of the Council (EU) 2015/849.
Originality/value
This study discusses the important issue of regulatory requirements introduced under EU regulations for private companies. Familiarization of companies, NGOs and obliged entities with the conclusions of the study can positively influence the consolidation of the correct interpretative path. In addition, to the best of the author’s knowledge, this is the first scientific text that identifies and systematizes the most important problems of the Register’s functioning in Poland.
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Benny Hutahayan, Mohamad Fadli, Satria Amiputra Amimakmur and Reka Dewantara
This study aims to analyze the causes and implications of legal uncertainty in the issuance of conventional municipal bonds in Indonesia and to draw lessons from Vietnam’s…
Abstract
Purpose
This study aims to analyze the causes and implications of legal uncertainty in the issuance of conventional municipal bonds in Indonesia and to draw lessons from Vietnam’s approach in providing better legal certainty.
Design/methodology/approach
This study adopts a normative legal method with a legislative approach and applies a comparative approach. Data sources involve primary and secondary legal materials from both Indonesia and Vietnam.
Findings
The legal uncertainty is caused by a lack of coherence and consistency in legislation. Based on Vietnam’s experience, Indonesia can gain valuable insights related to providing strong legal certainty for parties involved in issuing or investing through conventional municipal bonds.
Research limitations/implications
This study focuses on the comparative legal analysis of conventional municipal bonds in Indonesia with Vietnam.
Practical implications
This research provides recommendations for the refinement of legislation regarding conventional municipal bonds to the government.
Social implications
This study is related to legal certainty as a strategy to attract investment through municipal bonds and to ensure the municipal bond issuance process is transparent and efficient.
Originality/value
This study provides a comparative perspective on the issuance of municipal bonds in Indonesia, with a special focus on Vietnam, emphasizing the urgency of harmonization in legal regulation and the sustainability of legal certainty.
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Brajesh Mishra and Avanish Kumar
Globally, the governance has shifted from positivist to the regulatory-centric approach, necessitating accurate contouring of regulatory governance framework. The study proposes a…
Abstract
Purpose
Globally, the governance has shifted from positivist to the regulatory-centric approach, necessitating accurate contouring of regulatory governance framework. The study proposes a novel approach to unravel the regulatory governance framework in the context of the Indian electronics industry – extendable to other sectors in India and other emerging economies.
Design/methodology/approach
The research objective has been operationalized through document analysis and thematic analysis of semi-structured interview transcripts in three steps: (1) arrive at parameters of the regulatory governance framework, (2) identify instruments against each parameter and (3) characterize parameters in terms of dominant instruments and their underlying modalities. The authors have adopted a set of 6 Cs modalities (control, communications, competition, consensus, code and collaboration) and regulatory space theory to analyze existing modalities mix in the dominant instruments.
Findings
In summary, the study has (1) identified eight macro and twenty micro regulatory governance parameters, (2) mapped regulatory governance parameters with instruments and institutions (3) revealed the top two dominant modalities for each regulatory governance parameter.
Practical implications
The existing modality characteristics of regulatory governance parameters can be used by manufacturers, investors and other stakeholders to make a realistic assessment of regulatory governance and reduce regulatory risk and regulatory burden.
Originality/value
The multidimensional use of parameters, instruments and modalities broadens the understanding of the existing regulatory governance framework and may assist the regulators in optimizing it to meet market requirements.
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Dona Budi Kharisma and Alvalerie Diakanza
This paper aims to identify the reasons why cases of leakage of patient personal data often occur in the health sector. This paper also analyzes personal data protection…
Abstract
Purpose
This paper aims to identify the reasons why cases of leakage of patient personal data often occur in the health sector. This paper also analyzes personal data protection regulations in the health sector from a comparative legal perspective between Indonesia, Singapore and the European Union (EU).
Design/methodology/approach
This type of research is legal research. The research approach used is the statute approach and conceptual approach. The focus of this study in this research is Indonesia with a comparative study in Singapore and the EU.
Findings
Cases of leakage of patient personal data in Indonesia often occur. In 2021, the data for 230,000 COVID-19 patients was leaked and sold on the Rapid Forums dark web forum. A patient’s personal data is a human right that must be protected. Compared to Singapore and the EU, Indonesia is a country that does not yet have a law on the protection of personal data. This condition causes cases of leakage of patients’ personal data to occur frequently.
Research limitations/implications
This study analyzes the regulation and protection of patients’ personal data in Indonesia, Singapore and the EU to construct a regulatory design for the protection of patients’ personal data.
Practical implications
The results of this study are useful for constructing regulations governing the protection of patients’ personal data. The regulation is to protect the patient’s personal data like a patient’s human right.
Social implications
The ideal regulatory design can prevent data breaches. Based on the results of comparative studies, in Singapore and the EU, cases of personal data leakage are rare because they have a regulatory framework regarding the protection of patients’ personal data.
Originality/value
Legal strategies that can be taken to prevent and overcome patient data breaches include the establishment of an Act on Personal Data Protection; the Personal Data Protection Commission; and management of patients’ personal data.
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Ravinder Kumar Verma, P. Vigneswara Ilavarasan and Arpan Kumar Kar
Digital platforms (DP) are transforming service delivery and affecting associated actors. The position of DPs is impacted by the regulations. However, emerging economies often…
Abstract
Purpose
Digital platforms (DP) are transforming service delivery and affecting associated actors. The position of DPs is impacted by the regulations. However, emerging economies often lack the regulatory environment to support DPs. This paper aims to explore the regulatory developments for DPs using the multi-level perspective (MLP).
Design/methodology/approach
The paper explores regulatory developments of ride-hailing platforms (RHPs) in India and their impacts. This study uses qualitative interview data from platform representatives, bureaucrats, drivers, experts and policy documents.
Findings
Regulatory developments in the ride-hailing space cannot be explained as a linear progression. The static institutional assumptions, especially without considering the multi-actors and multi-levels in policy formulation, do not serve associated actors adequately in different times and spaces. The RHPs regulations must consider the perspective of new RHPs and the support available to them. Non-consideration of short- and long-term perspectives of RHPs may have unequal outcomes for established and new RHPs.
Research limitations/implications
This research has implications for the digital economy regulatory ecosystem, DPs and implications for policymakers. Though the data from legal documents and qualitative interviews is adequate, transactional data from the RHPs and interviews with judiciary actors would have been insightful.
Practical implications
The study provides insights into critical aspects of regulatory evolution, governance and regulatory impact on the DPs’ ecosystem. The right balance of regulations according to the business models of DPs allows DPs to have space for growth and development of the platform ecosystem.
Social implications
This research shows the interactions in the digital space and how regulations can impact various actors. A balanced policy can guide the paths of DPs to have equal opportunities.
Originality/value
DP regulations have a complex structure. The paper studies regulatory developments of DPs and the impacts of governance and controls on associated players and platform ecosystems.
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Hoi Ching Cheung, Yan Yin Marco Lo, Dickson K.W. Chiu and Elaine W.S. Kong
This study examines academic librarians' perceptions and attitudes toward Internet of Things (IoT) applications in Hong Kong academic libraries and the problems and possible…
Abstract
Purpose
This study examines academic librarians' perceptions and attitudes toward Internet of Things (IoT) applications in Hong Kong academic libraries and the problems and possible improvements in using IoT technologies to strengthen library services.
Design/methodology/approach
This qualitative research used video conferencing software for semi-structured, one-on-one interviews. Participants were given introductory material about the IoT and asked to complete an interview. The data were analyzed using inductive theme clustering for this study.
Findings
The analysis identified three themes: perception about applying IoT technology to the library, problems and improvements in using IoT. Participants were generally optimistic about the potential benefits of IoT for improving library operations and providing personalized services. However, they also expressed concerns about privacy and security, errors and extra efforts for information literacy training. They suggested improvements such as incorporating facial recognition technology, advanced RFID technology and collections identification technology to enhance user experience.
Originality/value
Most studies examined users' views rather than librarians' on IoT applications, which few studies cover, especially in East Asia.
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With the aim of monitoring the existing regulations that are applicable to community of owners facing delinquency, in view of the importance of this issue for the achievement of…
Abstract
Purpose
With the aim of monitoring the existing regulations that are applicable to community of owners facing delinquency, in view of the importance of this issue for the achievement of the Urban Agenda, the present study aims to analyse the most stringent and controversial measures available for the community of owners facing delinquency from a comparative perspective.
Design/methodology/approach
The present work addresses the recent legislative amendments that have taken place at national level in this field in several countries and analyses to what extent they have addressed the delinquency problem faced by community of owners.
Findings
The current paper shows that, in the end, legal certainty, the prospective legal and economic effects on mortgage lending and constitutional concerns are the underlying reasons behind the reluctance to implement some stringent measures to face delinquency. It also shows that recent amendments concerning alternative dispute resolution mechanisms are a missed opportunity.
Social implications
Community of owners plays a key role in cities for the achievement of the Urban Agenda, so the periodical contributions from co-owners are paramount to the proper implementation of urban regeneration, energy efficiency and accessibility policies. To this end, the paper analyses existing regulations that are applicable to community of owners facing delinquency, which may increase in the coming years due to the current socioeconomic context.
Originality/value
This paper builds on existing research and goes one step further by addressing the recent legislative amendments that have taken place recently at national level in this field. These measures may serve as an inspiration to other EU legal systems.
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Massimo Sargiacomo, Luana Gliosca and Martin Quinn
This study aims to explore the evolution of corporate governance through a 100-year-old Italian Barilla pasta family business from its founding to 1971. The study builds on prior…
Abstract
Purpose
This study aims to explore the evolution of corporate governance through a 100-year-old Italian Barilla pasta family business from its founding to 1971. The study builds on prior research which has applied the three-circle model of family business systems in a historic context.
Design/methodology/approach
Using legal records, five phases in the history of Barilla are noted. Annual reports and other sources have allowed for some more insights into business events and developments. Then, drawing on the three-circle model of family business, the corporate governance regime is mapped to the model and the family actors.
Findings
The findings here support extant literature in that the systems in the three-circle model are found to overlap more in a historic setting. Challenges with the three-circle model are also noted, specifically, when corporate governance is considered across a century of an organisation’s history.
Originality/value
This study supports prior use of three-circle model of a family business in an historic context, providing further evidence the model is not static over time. Contrary to the original three-circle model, this study suggests that family actors can potentially occupy more than one location in the model if the non-human actor of corporate governance and its effect on human actors is also considered.
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Muhammad Ayub, Khurram Khan, Mansoor Khan and Muhammad Ismail
The unique institution of waqf that was ignored during the colonization of the Muslim areas has to be revived to play its role in shared growth, social inclusion and cohesion in…
Abstract
Purpose
The unique institution of waqf that was ignored during the colonization of the Muslim areas has to be revived to play its role in shared growth, social inclusion and cohesion in society. This research paper aims to explore the role of waqf as an instrument for a sustainable growth system and to suggest a model for socioeconomic development in an economy like that of Pakistan.
Design/methodology/approach
This qualitative research is based on analytical methods to arrive at the frameworks and a model that could facilitate the revival of waqf for community development/social inclusion in economies like that of Pakistan.
Findings
As most of the OIC member states like Pakistan are facing serious financial problems due to debt servicing obligations, promoting Waqf for various socioeconomic and cultural functions is a vital requirement for such economies. The inability of the state institutions in providing necessary civic, health and education facilities to the public is causing serious harm to the balance of the society. It requires promoting a formal system of charity and using FinTech for waqf-based donations and financing the micro businesses. The perpetuity complimented by the profitability of the waqf properties makes the waqf institutions sustainable and effective when compared to individual charities.
Research limitations/implications
This is conceptual research discussing the potential of waqf in light of its historical role. Researchers may undertake empirical studies on awqaf operations in various jurisdictions and their role in the empowerment of the poor.
Practical implications
The research will provide the researchers with insight into the potential of waqf as a tool for community development. Besides, it will enable policymakers and implementation authorities to socialize charity for sustained benefits and welfare.
Originality/value
To the best of the authors’ knowledge, it is the first major research that discusses the role of waqf in economies facing budgetary and trade deficits in the eradication of poverty and the promotion of social and economic entrepreneurship in realizing the community development targets for the economies like that of Pakistan.
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Faten Hamad, Maha Al-Fadel and Ahmed Maher Khafaga Shehata
Technological advancement has forced academic libraries to change their traditional services and routines by adopting emerging technologies to respond to the changing information…
Abstract
Purpose
Technological advancement has forced academic libraries to change their traditional services and routines by adopting emerging technologies to respond to the changing information needs of their users who are now more technologically inclined and prefer to access information remotely and in a timely manner. Smart technologies are the recent trends in academic libraries. This research aims to investigate the level of smart information service implementation at academic libraries in Jordan. It also aimed to investigate the correlation between the level of smart information services offered by the libraries and the level of digital competencies among the library staff.
Design/methodology/approach
This research is designed using survey design to collect comprehensive information from the study participants. A questionnaire was disseminated to 340 respondents, and 246 questionnaires were returned and were suitable for analysis with a response rate of 72.4%.
Findings
The results indicated a moderate level of smart information service offered by academic libraries, as well as a moderate level of digital skills associated with the advocacy of smart information services. The results also indicated a strong and positive relationship between the level of smart information services at the investigated libraries and the level of digital competencies among the librarians.
Practical implications
The findings will help other academic libraries understand how to respond to the emergent change in users’ information-seeking behavior by understanding their available human resources competencies and the requirement to undergo this emergent change.
Originality/value
This paper provides insights and practical solutions for academic libraries in response to global information trends based on users’ behaviors. This research was conducted in Jordan as one of the developing countries and hence it provides insights of the situation there. It will help academic libraries in Jordan and the region to handle and cope with the challenges associated with technology acceptance based on its staff level of digital competencies. The contribution of this research that it was done in a developing country where progress in the filed can be considered slow because of many factors, mainly economics, where institutions focus on essential library objectives, which are information resources development and databases subscriptions.
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