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1 – 10 of over 27000Bradley 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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Radhika Bongoni, Ruud Verkerk, Matthijs Dekker and Bea Steenbekkers
Domestic preparation practices influence the sensory properties and nutritional composition of food products. Information on the variability in actual domestic preparation…
Abstract
Purpose
Domestic preparation practices influence the sensory properties and nutritional composition of food products. Information on the variability in actual domestic preparation practices is needed to assess the influence of applied conditions on the sensory and nutritional quality of food. The collection of such information requires a reliable, valid and practical research method. The paper aims to discuss these issues.
Design/methodology/approach
Direct in-home observations, observations in a model-kitchen using cameras, and a self-reporting questionnaire were evaluated for reliability and validity, to study domestic food preparation practices by consumers. Broccoli preparation practices by Dutch consumers were checked by these three methods in this research paper.
Findings
All three research methods were found to be test-retest, inter-observer, parallel-form reliable; and face, content and concurrent valid. However, the self-reporting questionnaire is the most practical research method that can be administered on a large number of respondents in a short time to capture the wide variations in preparation practices.
Originality/value
Consumers can be assisted on domestic food preparation practices that reach their sensory preferences (e.g. texture, colour) as well as have health benefits on consumption.
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Policy strategies directed against illegal immigration have largely concentrated on border and domestic enforcement. This paper suggests that host countries could consider a more…
Abstract
Policy strategies directed against illegal immigration have largely concentrated on border and domestic enforcement. This paper suggests that host countries could consider a more lenient approach: contributing to the deportation cost of self-reporting illegal immigrants. The increase in illegal immigration that such a reward might bring about is shown to be more than offset by the rise in the number of self-reporting illegal immigrants leaving the rich country, with a concomitant decrease in the number of remaining illegal immigrants. An added advantage of this policy is that the self-reporting immigrants would be predominantly the relatively lower socio-economic group. When adopting this policy, the rich country must choose the appropriate mix of two policy means: funds allocated to strengthening its border and domestic control; and rewards to self-reporting illegal immigrants.
To explain a February 20, 2019 US Securities and Exchange Commission (SEC) settled enforcement action against Gladius Network LLC for failing to register an initial coin offering…
Abstract
Purpose
To explain a February 20, 2019 US Securities and Exchange Commission (SEC) settled enforcement action against Gladius Network LLC for failing to register an initial coin offering (ICO) under the federal securities laws, in which Gladius was able to avoid a civil penalty by self-reporting the violation and cooperating with the SEC enforcement staff.
Design/methodology/approach
Explains Gladius’ self-reporting, cooperation and remedial steps; why the SEC imposed no civil penalty on Gladius; and two similar cases the SEC instituted in July 2018 against companies that conducted unregistered ICOs, did not self-report, and were penalized. Provides analysis and conclusions.
Findings
The Gladius case offers important insight into how the SEC and its staff think about cooperation credit in resolving SEC enforcement actions and sends a clear message that self-reporting to the SEC can result in meaningful cooperation credit. In three recent cases, the Commission has made clear that once it put the industry on notice that ICOs could be securities that must be registered under the federal securities laws, a party risks enforcement action by failing to do so.
Originality/value
Expert analysis and guidance from an experienced securities lawyer who counsels clients on all manner of SEC enforcement, examination and regulatory policy matters.
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The purpose of this paper is to examine corporate social responsibility (CSR) content in the context of four differing national institutional arrangements for welfare. An analysis…
Abstract
Purpose
The purpose of this paper is to examine corporate social responsibility (CSR) content in the context of four differing national institutional arrangements for welfare. An analysis is presented on how self-reported CSR differs in content across two western welfare states (the UK and Sweden) and two emerging economies in southern Africa (South Africa and Mauritius).
Design/methodology/approach
This paper is based on a qualitative content analysis of the CSR self-reporting of 40 companies. This involved 10 of the largest companies incorporated in four countries, namely, Sweden, the UK, South Africa and Mauritius. The content is categorised into community involvement, socially responsible production and socially responsible employee relations. For each category, an analysis is provided of the reported issues (the question of what), the geographic focus of reported issues (the question of where) and ways of working with these issues (the question of how), as well as the extent of reporting and level of reporting (the question of how much).
Findings
The study shows that companies place focus on aspects, issues and localities in ways that differ between countries and can be understood in relation to current institutional arrangements for welfare. The content of self-reported CSR can be both complementing and mirroring the welfare arrangements. Differences in self-reported CSR agendas are particularly evident between the two western welfare states on the one hand and the two emerging economies on the other, as these represent two distinct contexts in terms of welfare arrangements.
Originality/value
This paper contributes to research on the institutional embeddedness of CSR in three ways: first, by going beyond measures of country differences in terms of extent of CSR to consider differences in CSR content; second, by focusing on the social aspects of CSR and placing these differences in relation to welfare configurations; and third, by contributing with empirical findings on how CSR content differs across national settings and across the established/emerging economy divide.
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Brenden Carroll, Mark Perlow, Christine Ayako Schleppegrell and Sam Scarritt-Selman
To explain the SEC’s Share Class Selection Disclosure Initiative (SCSD Initiative), the purpose it seeks to serve, the results it has generated, and its broader implications for…
Abstract
Purpose
To explain the SEC’s Share Class Selection Disclosure Initiative (SCSD Initiative), the purpose it seeks to serve, the results it has generated, and its broader implications for the asset management industry.
Design/methodology/approach
Explains the newly announced results of the SEC’s Share Class Selection Disclosure Initiative. Provides background on the principles underlying the initiative, the mechanics by which the initiative’s self-reporting program operated, and industry reaction to the initiative. Analyzes the results the initiative generated, in terms of both aggregate disgorgement and the terms of settlement offered to self-reporting advisers. Draws conclusions and provides key takeaways.
Findings
Although the terms of the actual settlements were consistent with the framework of standardized settlement terms set forth in the SCSD Initiative, whether the standardized terms of settlement offered under the SCSD Initiative ultimately will be viewed as favorable will depend in large part upon how the SEC continues to treat advisers that did not self-report.
Originality/value
Expert analysis from experienced lawyers in the mutual fund and investment advisory industries.
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Susan Light, James Normile and Leonard Licht
To explain FINRA’s new 529 Plan Share Class Initiative, which encourages broker-dealers to self-report violations.
Abstract
Purpose
To explain FINRA’s new 529 Plan Share Class Initiative, which encourages broker-dealers to self-report violations.
Design/methodology/approach
This article provides an overview of 529 plans, the various fee structures of the underlying investment funds, and guidance that broker-dealers should tailor their recommendations to the needs of the individual customer. The article discusses FINRA’s initiative for broker-dealers to self-report if they have violations in this area. It describes various supervisory failures brokerage firms may experience in connection with recommending 529 plans, eligibility for the self-reporting initiative and benefits of self-reporting.
Findings
This FINRA initiative provides an opportunity for firms to reflect on their supervisory systems and provide restitution to harmed customers. It also provides relevant fee-based investment information to customers.
Practical implications
529 plans are valuable tax-advantaged tools to encourage saving for the future educational expenses of a designated beneficiary. If brokerage firms lack reasonable supervisory procedures to recommend appropriate investments based on the length of the investment horizon, this FINRA initiative provides a unique and limited opportunity for firms to assess their supervisory systems and procedures governing 529 Plan share-class recommendations, to identify and remediate any defects, and to compensate any investors harmed by supervisory failures, while possibly avoiding fines for such conduct.
Originality/value
Expert guidance from experienced financial services regulatory and public finance lawyers.
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This paper aims to explain the U.S. Securities and Exchange Commission’s (SEC’s) recent Share Class Selection Disclosure (SCSD) Initiative, which offers potentially favorable…
Abstract
Purpose
This paper aims to explain the U.S. Securities and Exchange Commission’s (SEC’s) recent Share Class Selection Disclosure (SCSD) Initiative, which offers potentially favorable settlement terms to investment advisers who self-report to the SEC’s Enforcement Division violations of the federal securities laws relating to certain mutual fund share class selection issues and to discuss factors for consideration by investment advisers regarding their possible participation in this initiative.
Design/methodology/approach
This paper discusses the conditions and terms of the SEC’s SCSD Initiative, the SEC’s focus on conflicts of interest associated with mutual fund share class selection, the applicable law, the complex nature of these issues and the factors that investment advisers should consider in determining whether to participate in the initiative.
Findings
The assessment of the facts and the evaluation and analysis of the issues may be both time-consuming and complex. Firms need to carefully consider whether the potential benefits of self-reporting outweigh any possible downsides, including the potential collateral consequences that an SEC enforcement action may have on their business operations.
Originality/value
This paper contains valuable information about a recent SEC Enforcement Initiative and provides practical guidance from experienced securities counsel.
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Xiaolong Song, Jiahua Jin, Yi-Hung Liu and Xiangbin Yan
A question of interest is whether online social networks are effective in promoting behavioral changes and weight loss. The purpose of this paper is to examine the contagion…
Abstract
Purpose
A question of interest is whether online social networks are effective in promoting behavioral changes and weight loss. The purpose of this paper is to examine the contagion effect of an online buddy network on individuals’ self-monitoring behavior.
Design/methodology/approach
This study collects data from an online weight-loss community and constructs an online buddy network. This study compares the effects of the network structure of the buddy network and the actor attributes when predicting self-monitoring performance by employing the auto-logistic actor attribute models.
Findings
This study confirms the contagion effect on weigh-in behavior in the online buddy network. The contagion effect is significantly predictive when controlling for actor attribute and other network structure effects.
Originality/value
There is limited evidence that one’s weight-related behavior can be affected by online social contacts. This study contributes to the literature on peer influence on health by examining the contagion effect on weight-related behavior between online buddies. The findings can assist in designing peer-based interventions to harness influence from online social contacts for weight loss.
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Peter Massingham, Thi Nguyet Que Nguyen and Rada Massingham
The purpose of this paper is to address the subjectivity inherent in existing methods of human capital value measurement (HCVM) by proposing a 360‐degree peer review as a method…
Abstract
Purpose
The purpose of this paper is to address the subjectivity inherent in existing methods of human capital value measurement (HCVM) by proposing a 360‐degree peer review as a method of validating self‐reporting in HCVM surveys.
Design/methodology/approach
The case study is based on a survey of a section of the Royal Australian Navy. The sample was 118 respondents, who were mainly engineering and technical workers, and included both civilian and uniform.
Findings
The research may be summarised in three main findings. First, it confirms previous research demonstrating that correlations between self‐ and other‐ratings tend to be low. However, while previous research has found that self‐rating tends to be higher than other‐rating, it was found to be the opposite: other‐rating was higher than self‐rating. Second, personality is discounted as an influencing variable in self‐rating of knowledge. Third, there are patterns in the size of the discrepancy by knowledge dimension (i.e. employee capability, employee sustainability) that allow generalisation about the adjustment necessary to find an accurate self‐other rating of knowledge.
Research limitations/implications
The findings are based on a single case study and are therefore an exercise in theory development rather than theory testing.
Practical implications
The 360‐degree peer review rating of knowledge has considerable application. First, use the outcomes in the way 360‐degree feedback has been traditionally used; i.e. identifying training needs assessment, job analysis, performance appraisal, or managerial and leadership development. Second, use it for performance appraisal – given the method's capacity to identify issues at a very finite level: e.g. are you building effective relationships with customers? Third, identify knowledge gaps, at a strategic level, for recruitment and development targets. Finally, in terms of financial decisions investors might be able to compare knowledge scores by organization.
Originality/value
Traditionally, researchers and practitioners have used other‐ratings as a tool for identifying training and development needs. In this paper, other‐ratings have been introduced as a method for validating self‐rating in the measurement of knowledge. The objective was to address one of the weaknesses in existing methods – subjectivity. The solution to this problem was to use three data points – self‐reporting, 360‐degree peer review, and personality ratings – to validate the measurement of individuals’ human capital. This triangulation method aims to introduce objectivity to survey methods, making it a value measurement rather than value assessment.
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