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 question has been recently raised as to how far the operation of the Sale of Food and Drugs Acts of 1875, 1879, and 1899, and the Margarine Act, 1887, is affected by the Act 29 Charles II., cap. 7, “for the better observation of the Lord's Day, commonly called Sunday.” At first sight it would seem a palpable absurdity to suppose that a man could escape the penalties of one offence because he has committed another breach of the law at the same time, and in this respect law and common‐sense are, broadly speaking, in agreement; yet there are one or two cases in which at least some show of argument can be brought forward in favour of the opposite contention.
The papers collected here were written for the second biennial Wirth conference on Austrian Economics. The Wirth Institute for Austrian and Central European Studies sponsored the conference in cooperation with the University of Toronto in Mississauga. The conference was held from 17 to 18 October 2008 in Mississauga. The Wirth Institute has a natural home in Edmonton on the campus of the University of Alberta, which is a leading center for Central European Studies. The fact that the Institute has received support not only from government of Austria, but also from the governments of the Czech Republic, Hungary, Poland, Slovakia, and Slovenia reflects its historically minded recognition of the unique intellectual milieu of the Habsburg Empire. This intellectual milieu lasted beyond the breakup of the empire right through to the Anschluss in 1938. It is this milieu that shaped the Austrian school of economics and helped shape the context for the conference.
This chapter incorporates gender consciousness into critiques of the rational actor model by revisiting Carol Gilligan's account of moral development. Economics itself…
This chapter incorporates gender consciousness into critiques of the rational actor model by revisiting Carol Gilligan's account of moral development. Economics itself, led by the insights from game theory, is reexamining trust, altruism, reciprocity, and empathy. Behavioral economics further explores the implications of a more robust conception of human motivation. We argue that the most likely source for a comprehensive theory will come from the integration of behavioral economics with behavioral biology, and that this project depends on the insights from evolutionary analysis, genetics, and neuroscience. Considering the biological basis of human behavior, however, and, realistically considering the role of trust, altruism, reciprocity, and empathy in market transactions requires a reexamination of the role of gender in the construction of human society.
First, we revisit Gilligan, and argue that her articulation of relational feminism faltered, in part, because she could not identify the source of the stereotypically feminine. Second, we consider the ways in which the limitations of the rational actor model meant that law and economics could also not resolve the relational concerns that Gilligan raised. Third, we discuss the rediscovery of gender that is emerging from the gendered results of game theory trials and the new research on the biological basis of gender differences. Finally, we conclude that incorporating the insights of this new research into law and the social sciences will require a new methodology. Instead of narrow-minded focus on the incentive effects in the marginal transaction, we argue that reconsideration of stereotypically masculine and feminine traits requires an emphasis on balance.
The purpose of this paper is to timely control of a construction collapse accident effectively during its development process by constructing a stage model and then…
The purpose of this paper is to timely control of a construction collapse accident effectively during its development process by constructing a stage model and then aligning IT with each stage to help provide the information for decision making.
Through comprehensive literature review, this paper first identifies the various IT applications in on-site construction monitoring and analyzes the existed disaster/crisis stage models, also the stage models are compared with the causation models to illustrate the strengths. Then, a three-step methodology was conducted to develop and apply the conceptual framework, including the construction of the four-stage model; the establishment of the conceptual framework of information technology (IT) support for management of construction accidents (ITSMCA); and a building collapse accident used to illustrate the proposed framework.
The accident is divided into four stages, which are incubation stage, outbreak stage, spreading stage and final stage. The real-time staged information to support decision making, such as the contributing factors of on-site workers, materials, equipment and workplace, can be provided by emerging IT. Therefore, IT is aligned with the variations of contributing factors’ attributes in the four stages and ITSMCA is constructed to help accidents management.
The focus of the framework presented in this paper is that the stage model is effective for it catches the variations of the attributes whose values can be provided by IT rather than research on the practical application of the IT system. The construction and application of the IT system will be the research focus in the future.
This paper presents a stage model of a building collapse accident and gives a comprehensive conceptual framework of ITSMCA, which align the IT with different stages of the collapse accident. The ITSMCA proposes a feasible ideology and practical method for real-time management of the collapse accident during the process.