The FCA’s new enforcement process – what will work, and what won’t

2017 ◽  
Vol 18 (3) ◽  
pp. 79-81
Author(s):  
Polly James ◽  
Adam Jamieson
Keyword(s):  
Cultural Change ◽  
Design Methodology ◽  
Early Stage ◽  
Valuable Insight ◽  
Content Type ◽  
Practical Guidance

Purpose To review the FCA’s new enforcement process, drawing on what we believe are the positives and negatives and how the FCA should further improve the enforcement process. Design/methodology/approach Breaks down the FCA’s new enforcement process, highlighting the background and stimulus for change, the structural and cultural change, other process changes and our hopes for further reform. Findings Prospects have improved for firms/ individuals who are subject to FCA enforcement actions. Defendants who have good defensive arguments to make, but who would previously have felt under pressure to jettison those arguments in order to settle at an early stage and secure a 30 per cent discount will now be subject to a fairer process, weighted less favourably for the regulator. Originality/value Practical guidance from experienced regulatory lawyers who have valuable insight after working within the FCA.

SEC 2018 examination priorities

2018 ◽  
Vol 19 (2) ◽  
pp. 1-4
Author(s):  
Janet M. Angstadt ◽  
David Dickstein ◽  
Mark Goldstein ◽  
Richard Marshall
Keyword(s):  
Design Methodology ◽  
Valuable Insight ◽  
Content Type ◽  
The Us ◽  
Practical Guidance ◽  
Investment Advisers ◽  
Trump Administration

Purpose To analyze SEC Staff’s announced 2018 OCIE Examination priorities to provide insight to investment advisers and other regulated entities regarding areas of focus during SEC examinations. Design/methodology/approach This article discusses the US Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) published its examination priorities for 2018 (the “2018 Priorities Report”). Findings Given that OCIE’s examination priorities for 2017 were published before the beginning of the Trump administration, differences between the 2017 and the 2018 priorities provide important insights into the focus of examinations under SEC Chair Clayton. Investment advisers and other regulated entities should allocate resources towards their preparedness for the areas of focus identified in the 2018 Priorities Report. Originality/value This article contains valuable insight regarding the SEC’s 2018 OCIE examination priorities and practical guidance from industry experts.

Contesting the dominant narrative: expanding the multistory cultural change approach

2020 ◽  
Vol 33 (2) ◽  
pp. 217-228
Author(s):  
Martijn van Ooijen ◽  
Antonie van Nistelrooij ◽  
Marcel Veenswijk
Keyword(s):  
Organizational Culture ◽  
Cultural Change ◽  
Change Process ◽  
Design Methodology ◽  
Construction Safety ◽  
Change Processes ◽  
Research Approach ◽  
Organizational Field ◽  
Content Type

PurposeThe purpose of this paper is to expand the theory on multistory cultural change by showing how a dominant narrative on construction safety dynamically interrelates and is contested on multiple intertextual levels in an organizational field of organizations contributing to the recovery of houses in an earthquake region.Design/methodology/approachAn ethnoventionist research approach was adopted in which interpretation of data to find narratives and designing interventions went hand-in-hand.FindingsWe found four distinctive composite narratives besides the dominant narrative to which five actors refer in their accounts, thereby contributing to three types of story patterns. These narratives disclose the taken-for-granted ideas and beliefs that characterize the challenge of changing organizational culture. One intervention, which intended multiple stories to touch the surface, was highlighted as a multistory intervention.Research limitations/implicationsFurther research could extend the knowledge on other change interventions that contribute to multistory cultural change processes.Originality/valueAdopting an ethnoventionist approach to provide deep insights on an unfolding cultural change process for both scholars and practitioners.

SEC permits abbreviated tender and exchange offers for non-convertible high-yield and investment-grade debt securities

2015 ◽  
Vol 16 (3) ◽  
pp. 28-29
Author(s):  
Ian B. Blumenstein ◽  
J. Eric Maki ◽  
John T. Owen
Keyword(s):  
Design Methodology ◽  
High Yield ◽  
Content Type ◽  
Efficient Mechanism ◽  
Practical Guidance ◽  
Traditional Structures ◽  
Investment Grade ◽  
Practical Implications

Purpose – To advise companies of a recent SEC no-action letter relating to tender and exchange offers for certain debt securities. Design/methodology/approach – Reviews various conditions allowing an issuer to use a shortened timeframe in which certain debt tender/exchange offers need be kept open for as few as five business days. Findings – The abbreviated debt tender/exchange offer structure contemplated by the no-action letter provides a more efficient mechanism for conducting debt tender/exchange offers in certain circumstances. Practical implications – Issuers conducting a debt tender/exchange offer should consider whether the new abbreviated structure is more effective in achieving their objectives than the more traditional structures. Originality/value – Practical guidance from experienced securities regulatory lawyers that gives an overview of important developments in debt tender/exchange offer practice.

Kit preparation for mixed-model assembly: efficiency impact of confirmation methods

2019 ◽  
Vol 119 (3) ◽  
pp. 547-560 ◽  
Author(s):  
Patrik Fager
Keyword(s):  
Learning Curve ◽  
Design Methodology ◽  
Mixed Model ◽  
Early Stage ◽  
Time Efficiency ◽  
Content Type ◽  
Order Batching ◽  
The Impact ◽  
Mixed Model Assembly ◽  
Practical Implications

PurposeConfirmations are applied in kit preparation for mixed-model assembly to promote quality, but research that explains the impact on time efficiency has been lacking. The purpose of this paper is to determine the extent to which the type of confirmation method relates to time-efficient kit preparation when order batching is applied.Design/methodology/approachAn industrially relevant laboratory experiment is applied, simulating kit preparation with order batching for mixed-model assembly. The time efficiency is studied as associated with four confirmation methods – barcode ring scanner, button presses, voice commands and RFID-reading wristbands – when applied as pick-from and place-to confirmation. Furthermore, the paper also considers the quality outcome.FindingsEfficiency is promoted by methods that minimise interrupting the picker’s motions when performing pick-from confirmations and with methods that allow each hand to place components and perform place-to confirmations simultaneously – here represented by button presses and RFID-reading wristbands. Moreover, combining various methods for the tasks of pick-from or place-to confirmation can benefit efficiency.Research limitations/implicationsPickers at an early stage of the learning curve (one shift of training) were considered.Practical implicationsThe findings promote the customised applications of picking information systems in industry.Social implicationsCombining various methods for the tasks of pick-from and place-to confirmation can provide more fitting applications that better align with the picker’s preferences.Originality/valueCombinations of various methods when applied as either pick-from or place-to confirmation, or both, are studied.

The portrayal of Australian women in property publications

2018 ◽  
Vol 36 (1) ◽  
pp. 119-129 ◽  
Author(s):  
Hera Antoniades ◽  
Clive M.J. Warren
Keyword(s):  
Built Environment ◽  
Design Methodology ◽  
Ad Hoc ◽  
Valuable Insight ◽  
Gender Inequity ◽  
Content Type ◽  
Promote Gender Equality ◽  
Management Roles ◽  
Practical Implications ◽  
Research Analysis

Purpose The purpose of this paper is to undertake an analysis of the visual portrayal of women published in a professional journal within the built environment and to establish whether or not there is gender stereotyping through these published images. Design/methodology/approach A prominent property professional industry journal was selected for the research analysis. This journal was selected because of the national coverage within Australia and high prominence within the property industry. The analysis focused on a total of 166 pictures in the 2015 issues. The coding identified the publication year, issue number and page number of each photograph analysed and total number of pictures on each page. After this information was tabulated, each photograph was analysed using a thematic analysis approach. Findings The research identified that given the opportunity to be photographed ad hoc, women tend to take the dominant stance and yet when the pictures were posed, the women showed a tendency to adopt a submissive stance. Male images were 13.39 per cent in the dominance category indicating a higher score in comparison to females at 3.45 per cent. Practical implications Whilst it is generally accepted that there are more males in the built environment, the reality leans towards the notion that with less woman on property boards and management roles, it will be difficult to portray women in positions of authority and to balance the gender portrayal. In summary, the marginalisation of women is evident, and marketing media can be highly influential and unintentionally promote gender inequity with image portrayal. Originality/value This research provides a valuable insight on how women are portrayed in the property profession. The property industry and the professional bodies can provide an influential role to promote gender equality.

SEC permits all issuers to submit confidential draft registration statements

2017 ◽  
Vol 18 (4) ◽  
pp. 16-21
Author(s):  
Andrew Brady ◽  
Brian Breheny ◽  
Michelle Gasaway ◽  
Stacy Kanter ◽  
Michael Zeidel ◽  
...  
Keyword(s):  
Corporate Finance ◽  
Design Methodology ◽  
Review Process ◽  
Going Public ◽  
Content Type ◽  
Submission Process ◽  
The Us ◽  
Practical Guidance ◽  
Jobs Act ◽  
A Company

Purpose To explain the US Securities and Exchange Commission’s (SEC’s) June 29, 2017 announcement (as updated August 17, 2017) that the staff of its Division of Corporation Finance will accept draft registration statement submissions from all companies for nonpublic review, thereby expanding a popular benefit previously available only to emerging growth companies (ECGs) under the JOBS Act and, in limited circumstances, to certain foreign private issuers under historical Staff practices. Design/methodology/approach Explains the rationale and limitations of the new policy, the existing confidential submission process, the expanded class of issuers and transactions that now qualifies for the nonpublic review process, and content and staff processing details. Findings Recognizing that the confidential submission process for EGCs proved highly popular and quickly became standard practice for eligible companies seeking to conduct an IPO, the SEC has made the nonpublic review process available to an expanded class of issuers and transactions. The expanded confidential submission process for IPOs addresses some of the typical concerns associated with engaging in the IPO process by giving a company more time and flexibility to determine whether it actually will be able to achieve the benefits of going public before it incurs the burdens and expenses of doing so. Originality/value Practical guidance from experienced securities and corporate finance lawyers.

Are your customer accounts in order? – SEC announces sweep of broker-dealers and implementation of the customer protection rule initiative

2017 ◽  
Vol 18 (1) ◽  
pp. 68-74
Author(s):  
Melissa Beck Mitchum ◽  
Bob Xiong
Keyword(s):  
Current Account ◽  
Design Methodology ◽  
Securities And Exchange Commission ◽  
Content Type ◽  
Policies And Procedures ◽  
Practical Guidance ◽  
Reporting Mechanism

Purpose To explain the Customer Protection Rule Initiative announced by the Securities and Exchange Commission (SEC) and offer practical guidance for complying with Rule 15c3-3 under the Securities Exchange Act of 1934. Design/methodology/approach This article discusses Rule 15c3-3 under the Securities Exchange Act of 1934, related interpretative guidance, and the Customer Protection Rule Initiative announced in June 2016 by the SEC. Findings This article concludes that broker-dealers should take advantage of the Customer Protection Rule Initiative’s self-reporting mechanism and use this time to review their current account arrangements with banks, existing internal policies and procedures, and account documentation. Originality/value This article contains valuable information about the SEC’s Customer Protection Rule Initiative and practical compliance guidance from experienced securities lawyers.

Innovation affecting growth aspirations of early stage entrepreneurs: culture and economic freedom matter

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mehrzad Saeedikiya ◽  
Jizhen Li ◽  
Shayegheh Ashourizadeh ◽  
Serdar Temiz
Keyword(s):  
Hierarchical Linear Modeling ◽  
Design Methodology ◽  
Economic Freedom ◽  
Early Stage ◽  
Linear Modeling ◽  
Global Entrepreneurship Monitor ◽  
Content Type ◽  
Entrepreneurial Growth ◽  
Positive Effect

Purpose Earlier research confirms the positive effect of innovation in shaping growth ambitions of entrepreneurs. The aim of this paper is to investigate whether the effect of innovation on growth ambitions of entrepreneurs is contingent on the role of institutions, namely, culture and economic freedom. In other words, the authors’ objective is to provide an institutionally contingent understanding of the role of innovation in shaping growth ambitions of early-stage entrepreneurs. Design/methodology/approach The authors applied hierarchical linear modeling technique on the data of 100,566 early-stage entrepreneurs in 109 countries that participated in annual surveys of Global Entrepreneurship Monitor. Findings The authors find that the effect of innovation on shaping growth ambitions of early stage entrepreneurs is contingent on the role of culture such that, in secular cultures, innovation benefits growth ambitions more than traditional cultures. Further, the authors found that the effect of innovation on growth expectations is dependent on the level of economic freedom in the country in which the firms operate so that in the countries with higher level of economic freedom, early-stage entrepreneurs expect more growth out of their innovation as compared to their counterparts in the depressed economies. Originality/value The results contribute to our understanding of entrepreneurial growth aspirations as a result of the interplay of entrepreneur–firm–environment nexus.

FINRA relaxes restrictions on pre-inception performance data

2019 ◽  
Vol 20 (3) ◽  
pp. 6-9
Author(s):  
Richard F. Kerr ◽  
Matthew J. Rogers
Keyword(s):  
Design Methodology ◽  
Performance Data ◽  
Exchange Traded Funds ◽  
Investment Management ◽  
Content Type ◽  
Investment Companies ◽  
Practical Guidance ◽  
Marketing Materials ◽  
Important Shift

Purpose To explain the significance of a recently issued interpretive letter in which FINRA staff agreed to permit the use of pre-inception index performance data by passively managed, registered open-end investment companies. Design/methodology/approach FINRA recently issued an interpretive letter extending previously issued guidance by permitting passively managed open-end registered investment companies including separately-managed series of a business trust to use pre-inception index performance data in Institutional Communications. Findings The 2019 Letter is an important shift in how FINRA staff views PIP data in Institutional Communications by acknowledging that passively managed open-end funds should be treated in a similar manner as passively managed exchange-traded funds. This shift will be a welcome development for FINRA member firms wishing to include PIP data in marketing materials for the passively managed open-end funds they distribute. Originality/value Practical guidance from experienced investment management and broker-dealer lawyers.

Readiness for information security of teachers as a function of their personality traits and their assessment of threats

2020 ◽  
Vol 72 (5) ◽  
pp. 787-812
Author(s):  
Noa Aharony ◽  
Dan Bouhnik ◽  
Nurit Reich
Keyword(s):  
Information Security ◽  
Personality Traits ◽  
Cultural Change ◽  
Design Methodology ◽  
Educational Institutions ◽  
Security Awareness ◽  
Content Type ◽  
Information Security Awareness ◽  
Secure Information ◽  
The Impact

PurposeThis study examines the impact of personality traits on the degree of challenge experienced by individuals with respect to the threat on their information, the evaluation of their self-efficacy to secure the information and hence, their readiness to secure information.Design/methodology/approachThe study's population consisted of 157 teachers from various educational institutions across Israel. We used five questionnaires to gather data.FindingsFindings reveal a link between participants' personality traits, situation evaluation indicators and their readiness to secure information. Further, the greater subjects' information security awareness and familiarity with information security concepts, the better their application of the tools for securing information will be.Originality/valueThe importance of this research lies primarily in that it highlights the importance of individual differences while dealing with information security awareness. The findings constitute a theoretical and empirical basis for building tools toward guiding teachers to protect their information, as well as for devising educational and pedagogic programs for making a cultural change.

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