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An update for firms located outside the European Union of the possible extra-territorial impact of certain provisions in the recast Markets in Financial Instruments Directive and Markets in Financial Instruments Regulation (together referred to as “MiFID2”).

The focus is on the issues that are most likely to have an impact on non-EU firms, including buy/sell side financial institutions and private banks.

That the impact of MiFID2 will be felt far beyond the EU, particularly in relation to product governance, inducements and dealing commission, trading obligations, position limits for commodity derivatives and the new regime for accessing EU markets.

Non-EU firms need to assess their interaction with EU clients, counterparties and markets to identify the likely impact of MiFID2. Relevant interaction could include: manufacturing and distribution of financial instruments; the provision of investment research and dealing services to EU clients and trading in instruments which are admitted to trading on EU markets.

This article will be of interest to “third-country” firms, located outside the EU, but with a European connection, either in terms of European counterparties, investors or accessing European markets.

The purpose of this paper is to analyze causes and regulators' responses to the current international financial market crisis.

The paper discusses warning signs of the crisis in world financial services markets, principal underlying problems that have been identified, steps the financial services industry and its regulators are taking to address those problems, and the likely direction of future regulation.

More resource was put into structuring investment portfolios than in managing the risk positions those vehicles created. The problem with credit ratings was less in the actual ratings than in the meaning attached to them. Regulators were focusing mainly on credit and discovered they should have been worrying about access to liquidity; however, liquidity is difficult to regulate. The Financial Stability Forum has highlighted shortcomings in the way regulators cooperate across borders. The industry will not be allowed to sort this out by itself. Increased bank capital requirements and tightening of regulations on structured or off‐balance‐sheet vehicles are likely.

The paper is an overview and insight from experienced financial services lawyers.

Southwark Borough Council have considered a report of the special sub‐committee of the Kensington Borough Council relative to the use of boric acid as a preservative in cream. Mr. Cyril Dickinson, public analyst for the borough of Southwark, in a report to the Public Health Committee, states that a Departmental Committee reported in 1901 on the use of preservatives and colouring matter in foods, and in this report recommended that the only preservative which it shall be lawful to use in cream be boric acid, or mixtures of boric acid and borax, and in amount not exceeding 0.25 per cent. (17.5 grains to the pound) expressed as boric acid, the amount of such preservative to be notified on the label of the vessel. The late Local Government Board, in 1912, issued the milk and cream regulations, followed by an Amending Order, in 1917, which provides that no preservative shall be added to cream except boric acid “in amount not exceeding 0.4 per cent. (28 grains to the pound),” and requiring the declaratory labels to bear the words “not suitable for infants or invalids.” The circular which accompanied the Order of 1917 referred to the order as an interim measure, and mentioned the appointment of a small expert committee to enquire further into the matter, at the same time pointing out that it might bo found that the limit of boric acid in cream should be less than the maximum fixed by the regulations, and urging that every effort be made to use as little as possible or even dispense with it entirely. Although five years have elapsed since the issue of the order, the committee of experts has not yet been appointed, and Kensington Borough Council were now asking for support from the Minister of Health to institute forthwith the enquiry promised. The cream trade in Southwark was of a limited character, as evidenced by the difficulty in obtaining samples from vendors other than the large stores. In September, 1910, the public analyst adds, he reported to the Council in detail the results of a series of analyses of cream bought in the borough. The average amount of boric acid then found (0.23 per cent.) was considerably below the maximum amount (0.4 per cent.) mentioned in the regulations in 1917. He felt that his Council should support the Kensington Borough Council in their action, and at the same time should urge on the Minister of Health the very great necessity of going into the whole question of preservatives in food. No action had yet been taken to carry into effect the recommendations of the Departmental Committee of 1901, and the present position was extremely unsatisfactory both for the public and the trade. If preservatives are to be allowed in foods their nature and the amounts permissible should be definitely settled for the country as a whole; it should not be left to individual authorities to fight test cases. The problem was a very wide and difficult one, but an earnest attempt should be made to solve it, and so place the administration of this section of public health work on a satisfactory basis.

Focuses on the year 2000, reviewing the periodical literature of information and library services management, and of the relevant literature from the field of management in general. Notes the themes of major conferences in the field of information and library services management, and of reference tools for library managers.

The purpose of this paper is to present the theoretical foundations and lessons learned in the development and implementation of an institutional engagement framework for monitoring and managing the Crown's ownership interests in the New Zealand tertiary education sector.

The core analytics and tasks comprise financial stress testing, the Baldrige assessment approach and capability benchmarking, integrated into an overall risk management system using many of the elements of Robert Simons' “Levers of Control”.

The approach has been useful in identifying institutions most at risk and requiring higher levels of direct engagement, including statutory management intervention by the Crown.

It is considered there are ample performance measurement tools available and that ultimately success is through system design and management of the performance management process itself, with the capability of those undertaking the activity being as equally important as those whose capability is being assessed.

This paper shares insights on framework design and deployment with fellow practitioners.

A further illustration of the increasing grip of the law of equity in enabling monies that are part of a fraud to be recovered by the victim is provided by the Privy Council decision in Attorney‐General for Hong Kong v Warwick Reid. Previous decisions of English and Commonwealth courts based on the old established principles of equity have employed a constructive trust to recover monies that are the proceeds of fraud or are part of a fraudulent design. AG for Hong Kong v Reid showed how the constructive trust would operate to enable the Crown to recover bribes that had been paid to a Hong Kong public officer.

The times have come down to us as the “Good Old Days”, of Edwardian elegance and grace, peace and plenty, which conceal the poverty, squalor and disease. There seemed less resentment from those who suffered the rigours of the times than from those of today who only know of them by repute. Life was indeed cruel to the submerged tenth of society and the homeless waifs and strays were all too real and true.

Discusses the long existing and confusing problems of establishing the relationship of who is, and who if not, a dependent worker. Reflects developments which have occurred in British law as it affects the employment field, plus an evaluation and analysis of some of the different types of employment relationships which have evolved by examining, where possible, the status of each of these relationships. Concludes that the typical worker nowadays finds himself in a vulnerable position both economically and psychologically owing to the insecurity which exists.