Incentive conflicts, regulatory burdens on AMF agenda CSA rules on incentives inadequate, IOSCO finds An Ontario Securities Commission (OSC) hearing panel approved a proposed settlement with Sentry and its former CEO, Sean Driscoll, to resolve allegations of sales practices violations. Specifically, the OSC had accused the firm of violating the sales practices rules by hosting reps at a conference in Beverly Hills, Calif., that didn’t meet the requirements of rules designed to prevent mutual fund firms from providing reps with incentives that create conflicts of interest. The conference, which was held in September 2015, included a party for advisors at a mansion in Beverly Hills that cost the firm more than US$1,000 per guest; gifts of Dom Perignon champagne and jewelry from Tiffany & Co., along with golf outings, a wine tasting and movie studio tour provided at the firm’s expense. In total, the conference cost Sentry $2 million. The settlement agreement also indicates that Sentry spent excessively on gifts for reps, exceeding $4,000 a year for some reps, on items such as tickets to concerts, hockey, baseball and basketball games, along with other gifts. Furthermore, the OSC alleged that Driscoll provided a rep with tickets to the Montreal Grand Prix in 2015 and 2016, which also violated the rules. The discovery of spending on the race tickets led Sentry’s board to create a special committee of independent directors to investigate that conduct, which ultimately led to Driscoll offering to resign as the firm’s CEO. In addition to the $1.5-million administrative penalty, Sentry has also agreed to pay the OSC $150,000 in costs and to bolster compliance. In addition, Driscoll has been prohibited from acting as a director or officer of a mutual fund manager for two years and is prohibited from serving in a senior compliance role for five years. The OSC order also notes that Driscoll has made a “reparation payment” of $100,000 to the firm. Read: New guidance from OSC on mutual fund-sponsored sales conferences Sentry says in a statement released following the hearing that it accepts responsibility for the violations and it has pledged to implement compliance improvements recommended by PricewaterhouseCoopers LLP (PwC), which was hired to review its internal controls and compliance practices. Sentry’s new chief compliance officer, Edna Chu, “will work directly with PwC to ensure best-in-class compliance standards,” the statement says. “We have learned from this experience and our company will be better for it,” said Philip Yuzpe, who replaced Driscoll as president and CEO of Sentry earlier this year. “Moving forward, driven by our core values of trust and integrity, as well as our focus on investor advocacy, we are committed to best-in-class compliance standards.” The OSC notes in its reasons for the settlement that neither Sentry nor Driscoll has a disciplinary history and that both the firm and its former CEO co-operated with the regulator’s investigation. The OSC also acknowledges the steps the firm has taken to bolster its compliance. Photo copyright: serezniy/123RF Related news Toronto-based Sentry Investments Inc. will pay $1.5 million to settle allegations that it violated the mutual fund sales practices rule by sending advisors to a lavish conference in California and providing tickets to the Montreal Grand Prix. serezniy/123RF Keywords Sales incentivesCompanies Ontario Securities Commission, Sentry Investments Inc. 1832 to pay $950,000 settlement James Langton Share this article and your comments with peers on social media Facebook LinkedIn Twitter
123RF James Langton Soliman stressed the importance of creating a regulatory environment in Ontario that’s more conducive to industry competition — and particularly welcoming to the launch of independent investment dealers.He indicated that there are currently structural obstacles to starting new dealers, including high regulatory barriers to entry. The task force’s final recommendations will aim to address these obstacles, in hopes that a healthier dealer population will, in turn, play a greater role in raising and allocating capital for start-ups.Soliman suggested that there’s been an alarming decline in public issuers in recent years. One of the core objectives of the task force’s recommendations, he said, will be to reverse that trend in the years ahead.Among other things, Soliman confirmed that the task force’s final report will recommend expanding the OSC’s mandate to include the promotion of competition and innovation, alongside its traditional objectives of investor protection and ensuring fair and efficient markets.He also said the task force will recommend a restructuring of the commission to separate the OSC’s adjudicative function and to give the OSC an independent chair.The task force report will also feature recommendations for more closely aligning the policy approach of the government, the OSC and self-regulatory organizations to ensure that policymakers at various levels “are all rowing in the same direction,” Soliman said.The emphasis on creating a more welcoming environment for industry innovation and competition will also extend to industry product shelves. Soliman said that while the Canadian Securities Administrators’ forthcoming client-focused reforms are expected to improve investors’ access to a wider range of products, the task force’s final recommendations will supplement this effort.The task force’s final report will also finally recommend that the Ombudsman for Banking Services and Investments be given binding authority when making compensation recommendations. Soliman also indicated that the report will include proposals for enhancing the OSC’s enforcement powers, while providing defence lawyers with greater clarity on certain aspects of the enforcement process.Earlier in the conference, Ontario Finance Minister Rod Phillips indicated that the government will present its plan for driving growth and recovery in Thursday’s provincial budget, which was delayed by the onset of Covid-19. Title protection in Ontario on track for 2022 Facebook LinkedIn Twitter Merger of B.C. financial services, real estate regulators nears completion FSRA updates title reg proposal Share this article and your comments with peers on social media Keywords Regulation, Regulatory burden, Investment dealers, Investor protectionCompanies Ontario Securities Commission More independent dealers, more independent investment products and more junior issuers will all be objectives in the final recommendations of Ontario’s Capital Markets Modernization Taskforce, says task force chair Walied Soliman.Speaking to the Ontario Securities Commission’s (OSC) annual policy conference, Soliman, who is also chair of Norton Rose Fulbright Canada LLP, gave a preview of the task force’s likely final recommendations, which will be delivered to the Ontario government in December. Related news
NT Partners with University of Florida on Agriculture R&D projects Department of Industry, Tourism and TradeThe Northern Territory Government has partnered with the University of Florida to collaborate on research and development in areas of mutual interest.A new Memorandum of Understanding (MoU) will strengthen and expand the research capacity of participating organisations through sharing of research and technical exchange.Specifically, joint investigation research regarding tropical crops will be shared, as well as an opportunity for research questions to improve production systems and returns for growers.The program has the potential to also develop joint research proposals to secure external funding, and where mutually beneficial, support the exchange of researchers, when the time is right, to build capacity and facilitate the transfer of technical knowledge.Initially discussions on collaboration opportunities have begun regarding mango, passionfruit, and vanilla. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Agriculture, AusPol, Australia, crops, Florida, Government, investigation, Northern Territory, production, research, university
Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: May 11, 2021 • By Ally Dever As camping season approaches, we’re reminded of starry nights huddling around a campfire, roasting marshmallows and telling stories. But a CU Boulder professor’s new book encourages those heading to the great outdoors this summer to reflect on the long history of camping and its implications on inclusion, homelessness and protest culture. Phoebe Young, an environmental and cultural historian in the Department of History, spent over 18 years studying what it means to camp.In her new book, Camping Grounds: Public Nature in American Life from the Civil War to the Occupy Movement, Young takes a closer look at how camping taps into some of our core American beliefs about nature and citizenship, and why some forms of camping became mainstream over time and others became marginalized. “Camping can tell us a lot about how Americans connect to nature, but also who has access to outdoor recreation, how different groups experience the outdoors and the ways in which people camp that are not recreational,” Young said.Recreational camping is considered the “norm.” It’s the classic image of being in the wild around a campfire. But Young goes beyond the mainstream definition to examine political forms of camping, like the Occupy Wall Street movement, and functional camps, like those of the unsheltered community.“Recreational and non-recreational forms of camping each shape how we think of the other,” Young said. “We can’t understand one without the other.”Origins of camping Although recreational camping is considered the most universal, or assumed, definition, the origins of camping rest in the functional realm. “Camping was what you did when you were traveling and found yourself between towns; you might like it or not, but it didn’t carry a whole lot of cultural meaning,” Young said. But as cities and industries grew, recreational camping became a way of reestablishing connections to the land and claiming a piece of public nature. Gradually, camping evolved from a functional, need-based action to an elite activity for the upper class. “In the late 19th century, you needed a lot of leisure time, something that wasn’t available to most people outside the upper classes,” Young said. “You also needed enough resources to get yourself out into nature.”This elite group of campers worked very hard to keep up appearances and differentiate themselves from those that were migratory or mobile laborers. Many non-white populations, particularly African Americans, were also largely excluded from this activity, as they were not-so-subtly discouraged from visiting National Parks. “This is a fact that is getting more attention and focus lately, but it took a very long time for government agencies to proactively address that issue,” Young said. The “right” amount of roughing itWhy do we tend to see homeless camps as visual and environmental burdens, but national park campgrounds as wholesome and patriotic landscapes? Why did national movements like Occupy Wall Street result in less tolerance for the unhoused and unsheltered? Young looks at the way recreational, functional and political forms camping have intersected with each other over the last 150 years, and how those interactions have sparked debates over who has the “right” to camp.”She uses the example of Occupy Wall Street––the most visible, in recent times, where people used camping for political means. The movement, which began in New York City’s Wall Street financial district in 2011 and spread to other major cities across the country, protested economic inequality and the corruptive influence of major corporations on the government.Instructions for the Occupy protests indicated a date, a place, and a single instruction: “Bring Tent.”Young said the tactic took off in ways that surprised both organizers and observers. The grassroots movement turned out tens of thousands across the U.S.––including in Denver, where protesters pitched their tents at Civic Center Park. Camping at dozens of Occupy sites captured the nation’s attention, as did the attempts from legislators to dislodge Occupiers, which allowed the protest to remain in the news for longer.“Camping has been a consistent protest tactic since the 19th century, but what we saw on Wall Street particularly was this very interesting reaction from lawmakers that saw what Occupy was doing as a perversion of recreational camping,” Young said. As a result, many cities and municipalities enacted anti-camping bans or closed public outdoor spaces at night in the wake of Occupy that directly affected the unhoused communities who relied on functional camping as a means of survival.Denver’s unauthorized camping ordinance, which passed in May 2012 after the Occupy movement ended, is not technically a ban on camping, but does outlaw “unauthorized” camping on both public and private property. Currently the city doesn’t authorize camping in any public places. In 2020, a Denver County judge ruled that Denver’s camping ban is unconstitutional, putting the controversial ordinance, once again, at the center of a legal and political debate over who has the right to camp freely.Turning the rock overAs a cultural and environmental historian, Young enjoys interrogating things we tend to take for granted, whose meanings may seem obvious, and figuring out how they got to be so seemingly universal. “I like turning the rock over to see what lies beneath, and how they came to be so assumed,” she said. And as families and friends across the nation head out camping this season, she encourages people to do the same. “We need to recognize the reason camping has become so embedded in our infrastructure has a longer and complex history that has differential effects on how we use the outdoors and who gets preference in using the outdoors.”Young’s book Camping Grounds: Public Nature in American Life from the Civil War to the Occupy Movement (published by Oxford University Press) is available starting May 11, 2021 on Amazon Prime and Barnes & Noble. Categories:Arts & HumanitiesNews Headlines
By admin – January 8, 2016 LUH still not ready to restore IT systems Facebook Facebook Pinterest Homepage BannerNews WhatsApp Pregnant women can receive Covid vaccine at LYIT’s vaccination centre Previous articleOver 2,800 people spent time on trolleys and chairs at LUH during 2015Next articleMartinez: Coleman the best right back in European football admin Google+ RELATED ARTICLESMORE FROM AUTHOR Gardai continue to investigate Kilmacrennan fire Twitter Twitter As speculation continues over who will be Junior Minister Joe Mc Hugh’s running mate in the General Election, its understood a decision may be made when the party’s National Executive meets tomorrow in Dublin.There has been speculation that Deputy Dinny Mc Ginley will revisit his decision to retire, and last night, the Donegal News reported that Paddy Harte Junior, who chaired The Gathering committee in Donegal three years ago may be nominated.Mr Harte told Highland Radio News this morning that he has had discussions with Fine Gael on three or four occasions since September, saying that he was approached by them, and at no point did he seek a nomination.He said that the discussions were informal, and no specific offers were made. In the event that he is offered a nomination, he has not yet decided whether or not he will accept. WhatsApp Lárionad Acmhainní Nádúrtha CTR to take part in new research project 75 positive cases of Covid confirmed in North Google+ Further drop in people receiving PUP in Donegal Pinterest Renewed speculation that Paddy Harte Jnr may be added to FG election ticket
Deadline: 31 March 2017Open to: students applying for a master programme in MathematicsScholarship: EUR 10,000 per yearDescriptionThe Lebesgue Center is offering Mathematics Scholarships for international students. Scholarships are open to students applying for a master programme in mathematics, for a fist year of Master (M1) or for the second year of Master (M2), in Rennes, Nantes, Angers, Brest or Vannes.The Lebesgue Center provides support to Masters in mathematics at the University of Rennes 1, the University of Nantes, the ÉNS Rennes, the University of South of Britania, the University of Ouest of Bretania, and the University of Angers, through scholarships and special lectures.EligibilityThe M1 scholarships are open to all students who have completed a bachelor’s degree in mathematics (or related) at the end of the academic year 2016-2017. The applicants for the Lebesgue M1 scholarship should certify a B1 level of proficiency of the French language;A student applying for the first year of a master (M1) will be allowed to apply for another scholarship for the second year (M2);The M2 scholarships are open to all students who have completed the first year of a master in mathematics (or related) at the end of the academic year 2016-2017. The courses of the second year of Master (M2) may be taught in English.ScholarshipThe stipend is EUR 10,000 per year.How to apply?In order to apply please fill the application.CV;Transcripts;Cover letter;One or more letters of recommendation.For more information please visit the official web page. +1 Degree Completion Grants for International Students at Universität Hamburg ← Summer School Social Cohesion BIGSSS Share 0 Pocket Tweet Similar Stories CMU Australia Scholarships for International Students Reddit Lebesgue Master Scholarship for International Students in France Leave a Reply Cancel ReplyYou must be logged in to post a comment. 2021 Global Korea Scholarship for Undergraduate Degrees February 3, 2017 Published by sanja LinkedIn 0 Summer school “Democratic innovations in Europe and in the European Union” →
Fourth IUCN Red List of Ecosystems Photo Contest Depict Short Film Competition – Can you do it in 90 seconds → LinkedIn 0 Tweet Deadline: 30 April 2019Open to: all photographers and aspiring photographers worldwideAward: winners will be announced on IUCN Red List of Ecosystems social media and exhibited at the IUCN World Conservation CongressDescriptionIUCN, International Union for Conservation of Nature, through its Commission on Ecosystem Management (CEM) and the Thematic Group Red List of Ecosystems (RLE), are pleased to announce the Fourth IUCN Red List of Ecosystems Photo Contest – My Place in Nature. The contest is open to all photographers and aspiring photographers worldwide. You are invited to share your story on ecosystems and show your very own place in nature. Capture the essence of the one place or event in nature that has left you with a long-lasting impression because of its beauty, power or uniqueness and share your images of any ecosystem, either free from human intervention or altered by it.Photographs may be submitted having a clear relation to the theme My Place in Nature, and two modalities: Individual Photo and Series of Photos. All submitted photographs will be evaluated in a first round by a jury. The photographs that receive the highest scores by the jury will move on to a second round where they will be evaluated by the general public. Winning photographs will be those that obtain the best, combined scores based on the votes from both the public and the jury.EligibilityAll photographers and aspiring photographers worldwide.AwardWinners will be announced on IUCN Red List of Ecosystems social media and exhibited at the IUCN World Conservation Congress to be held in 2020 in Marseille, France.How to apply? In order to submit your photos, please follow the following instructions:Carefully read the Official Rules;Select the photos you want to submit for the modalities of your preference (you may submit photos in both modalities);Gather all the required information for each of your photos, including Title, Description, Country, Location and Date;Select the photographs having a clear relation to the theme My Place in Nature (File format: JPG or PNG);Fill out the Online Photo Submission Form no later than April 30th, 2019;Photographs submitted by Minors must be accompanied by signed parental consent from the Authorized Representative in order to be considered.For more information please check the FAQ list. Likewise, if you have any problems with your submission, please contact [email protected] more information, please visit the official web page. Reddit The Masters Review Flash Fiction Contest 2021 Pocket March 12, 2019 Published by sanja +1 ← United Nations International Law Seminar (ILS) Fourth Human Rights Youth Challenge Similar Stories Share 0 212 Photography Istanbul
GungHo details Puzzle & Dragons rescue plan following further declineJapanese games firm investing in esports, manga, anime, toys and more as mobile hit strugglesJames BatchelorEditor-in-ChiefMonday 5th February 2018Share this article Recommend Tweet ShareCompanies in this articleGungHo Online Entertainment Inc.GungHo Online Entertainment has unveiled Puzzle & Dragons Project 2018, a strategy that aims to restore the popularity and growth of the Japanese mobile hit.Released six years ago, match-three RPG title Puzzle & Dragons was one of the nation’s standout successes on smart devices, but waning downloads and user activity has prompted its publisher to renew its efforts behind the title.Project 2018 revolves around the five key pillars of games, esports, manga, anime and toys, with a presentation to investors declaring the goal is to “position Puzzle & Dragons as a national game brand with enduring popularity.”Plans for esports tournaments and events seem to be central to these efforts, with GungHo announced the game has been certified as an esports title in Japan. Tournaments will actually revolve around spin-off Puzzle & Dragons Radar, released in 2016, and are planned to take place across all regions of Japan through April and May 2018.The proposed anime TV series and manga books will promote these efforts, with storylines revolved around similar tournaments. The manga will be primarily aimed at children in order to increase the younger elements of the game’s audience. The first manga issue will be published in March, with the anime to debut in April.Both the anime and manga, as well as the core game and its Radar spin-off, will receive new toy lines throughout the year.All of these efforts are planned with the GungHo’s home market of Japan in mind. Despite efforts to grow Puzzle & Dragons abroad, the game has yet to see the same popularity in other markets. As of November 2017, Puzzle & Dragons has been downloaded more than 47m times in Japan – by contrast, it has only managed 12m downloads in North America as of September 2017.Related JobsSenior Game Designer – UE4 – AAA United Kingdom Amiqus GamesProgrammer – REMOTE – work with industry veterans! North West Amiqus GamesJunior Video Editor – GLOBAL publisher United Kingdom Amiqus GamesDiscover more jobs in games The plans were revealed alongside GungHo’s latest financial results. For the year ended December 31st 2017, the firm reported net sales of ¥92.3bn ($840m) – a 17.9 per cent decrease from the ¥112.4bn ($1.02bn) achieved last year. Profits fell by 19.8 per cent year-on-year from ¥27.9bn ($254.2m) in 2016 to ¥22.4bn ($204m) last year.The decline was attributed largely to a decrease in net sales from Puzzle & Dragons, as well as increased advertising expenses as part of efforts to maintain the title’s popularity. Spending on TV ads rose by 49.6 per cent in the fourth quarter to ¥2.56bn ($23.3m).GungHo isn’t solely relying on Puzzle & Dragons for future growth. The firm is gearing up for the release of Calcio Fantasista, a free-to-play football management game, with more new titles in development.Celebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Mobile newsletter and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesGungHo shares slump on decline of Puzzle & DragonsQ2 results show falling revenue and profits as flagship game shows signs of ageBy Matthew Handrahan 2 years agoPlanning for the end of the one-hit wonderThe mobile gaming landscape is filled with giant companies living off the back of a single, enormous hit title – but how many are planning effectively for when that title starts to decline?By Rob Fahey 3 years agoLatest comments Sign in to contributeEmail addressPasswordSign in Need an account? Register now.
ABC News(NEW YORK) — Six of the last seven days the temperatures at Chicago’s Midway airport have reached at least 90 degrees, with Tuesday’s high of 92 being the hottest there so far this year. Other notable temperatures on Tuesday included a high of 98 in Miami. On Wednesday, a heat advisory has been issued for much of the Southeast as the Heat Index could approach 110.The Fourth of July is forecast to be similarly scorching, with humidity creating conditions that feel like at least 100 degrees from the Plains and Gulf Coast all the way to the East Coast.In addition to the heat, storms with heavy rain are a possibility for several regions.Parts of the Plains and East Coast could see more than 3 inches of rain and localized flooding over the holiday weekend.Copyright © 2019, ABC Radio. All rights reserved.
Facebook CEO Mark Zuckerberg and Neiman Marcus at Hudson Yards (Getty)Facebook has been shopping for more space at Hudson Yards.The social media giant is in talks to lease Neiman Marcus’s retail space in Hudson Yards, Women’s Wear Daily reported, citing sources.Related Companies had reportedly been eyeing a plan B for the retailer’s 188,000-square-foot space after Neiman Marcus’ May bankruptcy filing, which would allow it to vacate its shops without penalty. The landlord has been marketing a total of 380,000 square feet at the top of the mall as office.Facebook, meanwhile, has already leased 1.5 million square feet at 30, 50, and 55 Hudson Yards. It’s also reportedly near a deal to take the full office space at Vornado Realty Trust’s Farley Post office redevelopment nearby.Read moreRelated marketing Neiman’s Hudson Yards store as officeNeiman Marcus files for bankruptcy, casting uncertainty over Hudson YardsTRD INSIGHTS: This is what office tenants are paying to lease up 55 Hudson Yards The latest potential leases come as CEO Mark Zuckerberg announced that Facebook’s 45,000 workers would shift toward a distributed workforce. The move could see about half the company move to remote work over the next decade.This month, financing documents associated with 55 Hudson Yards provided a detailed look at the 51-story office tower’s rent roll. Facebook is reportedly paying $116 per square foot for its 56,858 feet of space, coming to a base rent amount of $7.7 million. According to the documents, that rental agreement will expire in 2024. [WWD] — Orion JonesFacebook Seen Eyeing Neiman’s Space at Hudson Yards This content is for subscribers only.Subscribe Now