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Article
Publication date: 4 September 2017

Stephanie M. Monaco, Amy Ward Pershkow, Leslie S. Cruz, Peter M. McCamman, Andrew D. Getsinger and Adam Kanter

To explain a guidance update issued in February 2017 by the staff of the Division of Investment Management (Staff) at the US Securities and Exchange Commission (SEC) on…

Abstract

Purpose

To explain a guidance update issued in February 2017 by the staff of the Division of Investment Management (Staff) at the US Securities and Exchange Commission (SEC) on how robo-advisers may meet their disclosure, suitability and compliance obligations under the Investment Advisers Act of 1940 (Advisers Act).

Design/methodology/approach

Examines the update’s guidance on three areas – the substance and presentation of disclosures, the provision of suitable investment advice, and the adoption and implementation of effective compliance programs – and then raises practical considerations for robo-advisers.

Findings

The update reflects the Staff’s increasing concern about the potential risks of the robo-adviser platform and provides a listing of key issues that the SEC’s Office of Compliance Inspections and Examinations (OCIE) – which recently added “electronic investment advice” as a new focus for its 2017 examinations – may zero in on when examining robo-advisory firms.

Practical implications

Robo-advisers should carefully review the Staff’s update to evaluate whether their firms’ operations address the guidance.

Originality/value

Practical advice from experienced securities regulatory lawyers.

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Article
Publication date: 26 June 2021

Leslie S. Cruz and Stephanie M. Monaco

To inform readers of the challenges that fintech companies can have regarding investment company status, using two recent examples.

Abstract

Purpose

To inform readers of the challenges that fintech companies can have regarding investment company status, using two recent examples.

Design/methodology/approach

The article provides an introduction to the subject, discusses two examples of fintech companies that had investment company status challenges, and provides concluding remarks regarding each.

Findings

Navigating investment company status can be challenging for fintech companies, and in some cases, as was the case with the two companies discussed in the article, it may be necessary, or at least advisable, to seek to obtain an order from the SEC.

Practical implications

It is important for fintech companies to evaluate their investment company status in early stages and continue to monitor their status thereafter, particularly if they are considering a public offering.

Originality/value

Technical guidance from experienced investment company status lawyers.

Details

Journal of Investment Compliance, vol. 22 no. 3
Type: Research Article
ISSN: 1528-5812

Keywords

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Article
Publication date: 10 June 2019

Hannele Kauppinen-Räisänen, Johanna Gummerus, Catharina von Koskull and Helene Cristini

The purpose of this study was to explore what luxury represents to contemporary consumers in their own life contexts.

Abstract

Purpose

The purpose of this study was to explore what luxury represents to contemporary consumers in their own life contexts.

Design/methodology/approach

A mixed-methods qualitative approach was adopted that comprised individual, personal interviews and focused interviews with small groups.

Findings

The study contributes to the field of luxury research by highlighting consumers’ interpretations of luxury as highly subjective, relative and contextual; showing that according to consumers, luxury relates to both consumption and non-consumption contexts; illustrating the value of luxury as a multidimensional construct in both contexts; and demonstrating how luxury may relate to a consumer’s desire to be meaningful and genuine, thereby generating prudential value. In these cases, luxury is closely linked to consumers’ perceptions of meaningfulness and well-being.

Practical implications

For marketing managers, the findings suggest that the wave of new luxury – seeking meaningfulness – may serve as a novel means of branding.

Originality/value

This study demonstrates that the significance of the concept of luxury transcends commercial settings and offerings, i.e. the brand, product or service. The findings show that luxury may also be generated in non-commercial contexts and specific activities (e.g. running, gardening). Based on these findings, it is proposed that luxury in non-commercial settings is characteristic of the new wave of luxury, and that in such settings, luxury may contribute to personal well-being, thereby generating prudential value.

Details

Qualitative Market Research: An International Journal, vol. 22 no. 3
Type: Research Article
ISSN: 1352-2752

Keywords

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Abstract

Details

Secrets of Working Across Five Continents: Thriving Through the Power of Cultural Diversity
Type: Book
ISBN: 978-1-80043-011-2

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Article
Publication date: 6 June 2008

Julie Z. Sneath, Carol M. Megehee and Deborah F. Spake

The purpose of this paper is to examine the subculture of Southern Mardi Gras society in coastal Mississippi and Alabama.

Abstract

Purpose

The purpose of this paper is to examine the subculture of Southern Mardi Gras society in coastal Mississippi and Alabama.

Design/methodology/approach

Participant observation was used to explore the subculture as well as depth interviews with 42 informants who participated in Mardi Gras societies and/or balls.

Findings

The findings demonstrate that social identity theory is supported in Southern Mardi Gras society and that elements of racial divide, social stratification, and fixity of residence continue to support this subculture.

Originality/value

While most who are aware of Mardi Gras traditions associate it solely with New Orleans, this paper presents the rich subculture of Mardi Gras societies that extends along the upper Gulf Coast region of the USA. Tied to tourism in this region, these practices are explored for the nuances of this subculture and the Mardi Gras event myth.

Details

International Journal of Culture, Tourism and Hospitality Research, vol. 2 no. 2
Type: Research Article
ISSN: 1750-6182

Keywords

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