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Article
Publication date: 14 August 2007

Courtney J. Linn

In today's global economy, the public routinely engages in international financial transactions via the internet. This has created opportunities for online fraud. The…

Abstract

Purpose

In today's global economy, the public routinely engages in international financial transactions via the internet. This has created opportunities for online fraud. The paper aims to explain what policymakers who are serious about providing crime victims with an effective restitution remedy can learn from the US Government's experience with forfeiture.

Design/methodology/approach

The paper, by an Assistant US Attorrney, combines narrative with argument and analysis.

Findings

Existing restitution law is ineffective. Prosecutors have used forfeiture laws as an indirect mean of providing compensation for crime victims, but forfeiture law has its limits. The better approach would be for Congress to authorize the pretrial seizure and restraint of assets directly for restitution, utilizing standards comparable to those that exist in current forfeiture law. To address situations where a defendant places money overseas to avoid restitution, Congress should enact international restitution laws comparable to those that exist in forfeiture to facilitate the recovery of those assets. Without these kinds of reforms, the government will continue to struggle to collect restitution.

Originality/value

The paper provides information of value to all involved with international financial transactions and law enforcement activities.

Details

Journal of Money Laundering Control, vol. 10 no. 3
Type: Research Article
ISSN: 1368-5201

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Article
Publication date: 19 July 2018

Brian Rubin and Adam Pollet

The purpose of this paper is to analyze the Financial Industry Regulatory Authority’s (FINRA) 2017 disciplinary actions, the issues that resulted in the most significant…

Abstract

Purpose

The purpose of this paper is to analyze the Financial Industry Regulatory Authority’s (FINRA) 2017 disciplinary actions, the issues that resulted in the most significant fines and restitution and the emerging enforcement trends from 2017 and beyond.

Design/methodology/approach

The approach of this paper discusses the disciplinary actions in 2017 and prior years, details the top 2017 enforcement issues measured by total fines assessed, including anti-money laundering, trade reporting, electronic communications, books and records, research analysts and research reports, and explains current enforcement trends, including restitution, suitability cases and technological issues.

Findings

In 2017, restitution more than doubled from the prior year, resulting in the fourth highest total sanctions (fines combined with restitution and disgorgement) assessed by FINRA over the past 10 years.

Practical implications

Firms and their representatives should heed the trends in both the substantial restitution FINRA is ordering and the related enforcement issues in the cases FINRA has brought.

Originality/value

This paper provides expert analysis and guidance from experienced securities enforcement lawyers.

Details

Journal of Investment Compliance, vol. 19 no. 2
Type: Research Article
ISSN: 1528-5812

Keywords

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Article
Publication date: 11 March 2021

Taeshik Gong and Chen-Ya Wang

This paper introduces the concept of dysfunctional customer behavior toward a brand and argues that when customers perceive that a brand has failed to fulfill its…

Abstract

Purpose

This paper introduces the concept of dysfunctional customer behavior toward a brand and argues that when customers perceive that a brand has failed to fulfill its promises, a psychological brand contract breach occurs, which in turn leads to a psychological brand contract violation, which evokes dysfunctional customer behavior toward the brand. In addition, this study investigates whether the impact of a breach of this contract is dependent on brand relationship quality, brand apology and restitution.

Design/methodology/approach

Study 1 conducted the online survey and 224 respondents were used for data analysis and the moderating role of brand relationship quality was examined. Study 2 conducted an experiment with 201 participants to test the moderating role of brand apology and restitution.

Findings

This study found the moderating role of brand relationship quality, brand apology and brand restitution on the relationship between a psychological brand contract breach and dysfunctional customer behavior toward a brand (i.e. brand-negative word-of-mouth, brand retaliation and brand boycott), which is mediated by psychological brand contract violation.

Originality/value

This study contributes to the theoretical understanding of dysfunctional customer behavior toward a brand by integrating the literature on brand management with the organizational literature on psychological contracts between organizations and their employees. Furthermore, this study sheds light on the effectiveness of reparative actions by the firm after occurrence of the psychological brand contract breach.

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Article
Publication date: 3 July 2017

Brian Rubin and Adam Pollet

To analyze FINRA’s 2016 sanctions and cases, the issues that resulted in the most significant fines, emerging enforcement trends, and make predictions about key issues for…

Abstract

Purpose

To analyze FINRA’s 2016 sanctions and cases, the issues that resulted in the most significant fines, emerging enforcement trends, and make predictions about key issues for FINRA for 2017 and beyond.

Design/methodology/approach

Discusses the sanctions and disciplinary actions in 2016 and prior years; details the top 2016 enforcement issues measured by total fines assessed, including anti-money laundering, variable annuities, trade reporting, books and records, and unregistered securities; explains current enforcement trends, including fines of $1 million or more, sanctions against compliance officers, and suitability cases; and analyzes three enforcement topics that will likely continue to receive heightened attention from FINRA in 2017 and beyond: restitution, cybersecurity, and senior investors.

Findings

The fines ordered by FINRA in 2016 reached an all-time high while the amount of restitution ordered and the number of disciplinary actions remained on par with prior years.

Practical implications

Firms and their representatives should heed the trends in both the substantial fines FINRA is ordering and the related enforcement issues in the cases FINRA has brought.

Originality/value

Expert analysis and guidance from experienced securities enforcement lawyers.

Details

Journal of Investment Compliance, vol. 18 no. 2
Type: Research Article
ISSN: 1528-5812

Keywords

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Article
Publication date: 26 September 2008

O.A. Akinboade

The purpose of this paper is to look at aspects of gender issues in HIV/AIDS (non)affection on land restitution and survival strategies in the Capricorn district of…

Abstract

Purpose

The purpose of this paper is to look at aspects of gender issues in HIV/AIDS (non)affection on land restitution and survival strategies in the Capricorn district of Limpopo province of South Africa.

Design/methodology/approach

The study administered questionnaires to purposively selected AIDS‐affected households. For comparison, other randomly selected household categories that have lost members to other causes of death and those who have not experienced any deaths were included in the sample with a view to determining whether the disease could potentially affect households' ability to make potential claims to land, their access to, use of and retention of land, all of which engender a spread of survival strategies as the household's food and livelihood security is threatened.

Findings

In the study area, land is still largely held under traditional customs. Households having land to reclaim as a proportion of those interviewed are low. There are more aged heads among land‐claiming AIDS‐affected households. There is a significant presence of women heads among the land‐claiming households. Accepting cash compensation for land restitution is not popular in the study area. AIDS‐affected households are completely food insecure. As a coping strategy, households borrow money or food. AIDS‐affected households, defined as households that have lost members to AIDS‐related illnesses, sell their livestock because they are no longer able to manage the herd and they sell their crops to meet contingencies. Among them, it is the female‐headed households that are significantly not coping well. Gender is not significantly associated with receipt of social grants in any of the household categories. It is also not significantly associated with the adoption of the maintaining strategy of receiving food parcels or borrowing money or food nor in the adoption of reductive strategy of starving for one or two days. The sale of land is not a coping strategy in the study area.

Originality/value

There are few studies that link the HIV/AIDS pandemic to the land restitution process in South Africa. The findings could assist in understanding the coping/survival strategies of affected households and in designing suitable policies to assist them.

Details

International Journal of Social Economics, vol. 35 no. 11
Type: Research Article
ISSN: 0306-8293

Keywords

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Article
Publication date: 15 June 2015

Yanpei Chen, Pierre Evesque and Meiying Hou

The purpose of this paper is to investigate the local feature of driven granular gases in event-driven molecular dynamic simulation, in order to achieve spatial profiles…

Abstract

Purpose

The purpose of this paper is to investigate the local feature of driven granular gases in event-driven molecular dynamic simulation, in order to achieve spatial profiles of local velocity distribution and granular temperature, and the local state with various coefficients of restitution.

Design/methodology/approach

Event-driven molecular dynamic simulation is performed to study a vibro-fluidized granular gas system. Triangular-wave vibration is adopted in the simulation. The authors focus on the steady state of a driven granular gas.

Findings

The simulation finds the local velocity distribution is asymmetric along vibration direction in this driven granular gas system, which agrees with the experimental results obtained in micro-gravity. A nonlinear spatial profile of the skewness of local velocity distribution in vibration direction is found in the simulation. Furthermore, it is found that the value of skewness increases with the system dissipation. It is also found that the two temperature components T+ and T− differ from each other. This shows breakdown of energy equipartition. The ratio between them drops exponentially along y direction in various coefficients of restitution. All results confirm that the bulk boundary effect relates to the dissipation properties of granular gases.

Originality/value

This is the first MD simulation that investigates the bulk boundary effect to the local velocity distribution. The spatial profiles of the skewness of local velocity distribution are also investigated when changing the coefficient of restitution to study the influence of the system dissipative nature.

Details

Engineering Computations, vol. 32 no. 4
Type: Research Article
ISSN: 0264-4401

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Article
Publication date: 1 April 1993

Guy Duckworth

Reports on the joint declaration made by the West and East Germangovernments on the Settlement of Unresolved Property Claims which becamepart of the Unification Treaty in…

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Abstract

Reports on the joint declaration made by the West and East German governments on the Settlement of Unresolved Property Claims which became part of the Unification Treaty in 1990 and established that expropriated property owners should have a right to restitution. Describes the New Investment Property Act, which supersedes previous legislation and which has been designed to facilitate investment where there are title problems. Suggests that this latest enactment represents a shift away from a focus on restitution towards a desire to encourage property investment.

Details

Journal of Property Finance, vol. 4 no. 1
Type: Research Article
ISSN: 0958-868X

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Article
Publication date: 21 August 2019

Brian Rubin and Adam Pollet

To analyze FINRA’s 2018 disciplinary actions, the issues that resulted in the most significant fines and restitution, and the emerging enforcement trends from 2018 and beyond.

Abstract

Purpose

To analyze FINRA’s 2018 disciplinary actions, the issues that resulted in the most significant fines and restitution, and the emerging enforcement trends from 2018 and beyond.

Design/methodology/approach

Discusses the disciplinary actions in 2018 and prior years; details the top 2018 enforcement issues measured by total fines assessed, including anti-money laundering, suitability, variable annuity, and short selling; and explains current enforcement trends, including higher fines per case, more cases with larger sanctions in the second half of the year, share class issues, and inadequate resources.

Findings

In 2018, the Financial Industry Regulatory Authority (FINRA) ordered fewer fines than in 2017, and the number of cases and amount of restitution were down.

Practical implications

Firms and their representatives should heed the trends in both the substantial fines per case that FINRA is ordering and the related enforcement issues in the cases FINRA has brought.

Originality/value

Expert analysis and guidance from experienced securities enforcement lawyers.

Details

Journal of Investment Compliance, vol. 20 no. 3
Type: Research Article
ISSN: 1528-5812

Keywords

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Book part
Publication date: 25 November 2019

Morgan V. Sanchez

While web logs often are taken to be “Internet diaries,” unlike diaries that are private and serve only the needs of their authors, public blogs serve as a technological…

Abstract

Purpose

While web logs often are taken to be “Internet diaries,” unlike diaries that are private and serve only the needs of their authors, public blogs serve as a technological tool, allowing for the formation of Internet communities and challenges to institutional and/or cultural narratives.

Methods/Approach

I analyzed narratives constructed in two years of blog posts for each of five individuals with Chronic Fatigue Syndrome (CFS). I sought to understand the relationship between personal stories of contested illness and broader illness narratives.

Findings

My findings suggest these personal illness stories operate within the artificial confines of the dominant models of a given society. Blogs are used not only as a chronicle of day-to-day happenings, but as a means of engaging with traditional illness narratives, challenging cultural narratives about CFS, and of resisting institutional narratives concerning the illness process.

Implications/Value

This study brings voices of people with contested illnesses into the discourse on disability, where their perspectives have historically been poorly represented. The study also suggests that blogs can become sites of resistance and social change by providing a space in which counternarratives can be constructed and circulated.

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Book part
Publication date: 17 March 2010

Mihaela Şerban Rosen

This chapter examines the survival of private property during the early transition to communism in Romania at the intersection of state policies, ideologies, and legal…

Abstract

This chapter examines the survival of private property during the early transition to communism in Romania at the intersection of state policies, ideologies, and legal practices. It focuses on petitions contesting urban housing nationalization in the city of Timişoara between 1950 and 1965. I argue that petitions are partially successful acts of microresistance through law that contested the communist regime's concept of private property, played a role in halting further urban housing nationalization, undermined the regime's attempts at building legitimacy through legality, and challenged ideas about legal instrumentalism in a communist system.

Details

Special Issue Interdisciplinary Legal Studies: The Next Generation
Type: Book
ISBN: 978-1-84950-751-6

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