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City Moves: Who is switching jobs in the Square Mile this week?

first_imgWednesday 21 April 2021 9:42 am Big Four firm PwC UK has appointed its first chief data officer who is set to lead the firm’s newly formed Data Office. Alistair Stuart In this week’s City Moves, we have a host of newly created roles making their way across the Square Mile. From chief data officers to directors of environment social and governance – the new positions mark a fresh online era, as well as the increasing focus on environment social and governance (ESG) standards and commitments as the capital reaches for net-zero. Canary Wharf, London Also Read: City Moves: Who is switching jobs in the Square Mile this week? Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email [email protected] to be featured. “I am proud to be joining Apex alongside Ankit and Neale, and to be part of launching a solution that will solve the challenges asset managers and corporates currently face when it comes to their business banking,” Stuart added. Neale Croutear-Foy, most recently head of mobile banking management and customer and acquisition journey development at the UAE’s largest bank, First Abu Dhabi Bank. Prior to that, Griffiths has held senior positions with Aberdeen Asset Management, Credit Suisse, Axa and lnvestec. Ian Phoenix will bolster the FCA’s intelligence and surveillance capabilities, as well as lead digital work to disrupt harmful online activity. FCA hosts new ESG and tech hires Leading PwC UK’s digital upskilling programme, Patel is “hugely excited” to step into the role.   Formerly chief operating officer at Investec Bank, Alistair worked on a number of key digital initiatives including building their digital savings offering. Sunil Patel Canary Wharf, London Also Read: City Moves: Who is switching jobs in the Square Mile this week? First chief data officer joins PwC UK The new lead joins from First Sentier Investments where he was chief investment officer of fixed Income and multi asset solutions. Millie Turner “I’m delighted to join the FCA to help promote the UK as a global financial leader in ESG. I look forward to using my experience to help pursue these key objectives at the FCA.” “Data is intrinsic in everything we do, and using it responsibly is essential to making informed business decisions and creating more value for our clients,” Patel said. “While it’s been clear for some time that the future of work is changing, the events of the last year have only confirmed that… Data is crucially at the heart of all of this.” Canary Wharf, London Also Read: City Moves: Who is switching jobs in the Square Mile this week? Stuart has also held senior operational positions at Lloyds Banking Group, Westpac Group and RBS. Bringing over 30 years of experience, Patel was formerly PwC’s chief operating officer for the firm’s technology and investments group. whatsapp Shah joins from QIC Global, part of Qatar Insurance Company, where he was most recently head of investments and treasury. Canary Wharf, London Also Read: City Moves: Who is switching jobs in the Square Mile this week? “We welcome the recent addition to our remit of a requirement to have regard to the UK target of net-zero carbon emissions,” chief executive of the FCA, Nikhil Rathi, commented. whatsapp Paul Griffiths Canary Wharf, London Also Read: City Moves: Who is switching jobs in the Square Mile this week? ESG has increasingly appeared on the City’s agenda, and Sacha Sadan is set to advocate for the FCA’s approach to sustainable finance domestically and internationally.center_img Canary Wharf, London Also Read: City Moves: Who is switching jobs in the Square Mile this week? “HSBC Asset Management has seen significant growth in its institutional business over the past year. This has been driven by bringing a strong set of innovative products to the market and I am thrilled to be part of its future development,” Griffiths added. Leading the development of policy that will help ensure the long-term safety and soundness of firms, Sadan will also look to maintain the proper functioning of markets and the protection of consumers. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory”Waltons” Actress Says Magazine Ended Her CareerPast FactoryBrake For It40 New Features In The 2021 Ford BroncoBrake For ItBleacherBreaker41 Old Toys That Are Worth More Than Your HouseBleacherBreakerAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyFactableAluminum Foil Uses You’ll Want to KnowFactableMoneyWise.comMechanics Say You Should Avoid These Cars In 2021  MoneyWise.comLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsLivestlyPlugs Have These Two Holes At The End, Here’s WhyLivestly Tags: Big Four Credit Suisse Digital economy FCA HSBC Holdings Investec Joining from Legal and General Investment Management as director of investment stewardship, Sadan has worked in fund management since 1994. Canary Wharf, London Paul Griffiths will be responsible for the commercial development of the firm’s institutional business and lead its institutional sales and client management teams. Most recently director of Citizens’ Health Technology at NHS Digital during the pandemic, Phoenix has also worked at the Home Office at the height of Brexit. “2021 will be a critical year for our digital banking business and we are excited to welcome someone of Alistair’s calibre, experience and vision to lead the offering,” Apex founder and CEO, Peter Hughes, said.  The group has further bolstered its digital banking team by hiring Ankit Shah as head of digital banking business development and Neale Croutear-Foy as chief technology officer of the digital banking branch. “Throughout my career as an asset owner, fund manager and global stewardship director I’ve focused on the protection of consumer interests and responsible capitalism, Sadan added. With over 15 years of experience in the financial services industry, Shah has held various roles at AXA Investment Manager, UK Capital Investments Group and Grant Thornton. HSBC Asset Management hires new head HSBC Asset Management has appointed as a new global head of institutional business, who will begin the capital-based role on 5 May. Share Sunil Patel, who is also a partner, will join PwC’s growing global chief data officer network. Reporting to CEO Nicolas Moreau and taking over from Brian Heyworth who left the firm last year, Griffiths brings over 30 years’ worth of experience in the industry. Apex Group hires digital banking trio The FCA has also appointed a chief information officer (CIO) and a director of intelligence and digital. Canary Wharf, London Also Read: City Moves: Who is switching jobs in the Square Mile this week? Show Comments ▼ Ian Alderton, who joined the authority on a temporary basis in January, is set to take up the permanent role of CIO. In another newly created position, financial services group Apex has hired a head of digital banking. Bringing decades of experience, Croutear-Foy has also had roles at JP Morgan, UBS, Nomura and HSBC. City Moves: Who is switching jobs in the Square Mile this week? Alistair Stuart will lead planned enhancements to the EDB digital banking platform throughout this year. “Paul’s extensive investment management experience and deep knowledge of the needs of institutional clients will prove invaluable as we continue to develop our proposition and differentiate our offering in the market,” Moreau said. The Financial Conduct Authority (FCA) has hired a new director of environment social and governance (ESG) under a newly created role this week.last_img read more

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Maccarone Gallery’s Massive New DTLA Outpost is Finally Open

first_imgArtArchitectureMaccarone Gallery’s Massive New DTLA Outpost is Finally Open11 radiantly translucent images, the work of artist Alex Hubbard, fill the cavernous space for its inaugural showBy Lyle Zimskind – September 21, 2015688ShareEmailFacebookTwitterPinterestReddItThe first exhibition we encounter in a particular art gallery may color our perception of the space even after the work of different artists has redefined it over and over again. Certainly Alex Hubbard’s majestic series of translucent quasi-sculptural paintings—created to inaugurate the new Los Angeles outpost of New York’s Maccarone gallery, which opened September 19 in the Downtown Arts District—provides an indelible introductory impression of this eagerly anticipated new venue.Enigmatically titled Basic Perversions, Hubbard’s show features 11 imposing yet consistently absorbing multi-layered abstract compositions. The paintings’ glassy surfaces were fabricated by pouring hot, pigmented urethane and other materials onto stretcher bars, generating chemical reactions that created bright patterns. Hubbard then added a contrasting element of opacity to some pieces by hand-applying oil and automotive paint over certain areas of their pellucid support.While about half of these still-untitled works are placed against the gallery walls, others stand freely in the middle of its rooms, allowing viewers the unusual opportunity of viewing the paintings from both front and back. Though there is considerable physical space between many of the pieces, their diaphanous surfaces, enhanced by considerable natural light streaming in through ceiling skylights, radiate a presence that fills the gallery’s main 9,000 square-foot exhibition space. The initial challenge of occupying such a large area, Hubbard acknowledges, made Basic Perversions “the hardest show I’ve ever done…each painting was really such anguish,” he says.Hubbard is one of two artists (along with Oscar Tuazon) represented by Maccarone whose studios are situated directly on the gallery premises. After “growing up” in the New York art world, Hubbard moved to Los Angeles a few years ago, unaware that his home gallery would soon be following him out to a place that founder Michele Maccarone characterizes as “the most artist-centric city in the world.” Finding “a lot of camaraderie and less competition” in L.A. than in New York, Hubbard acknowledges sometimes missing the excitement of staying out until 4 a.m. arguing with people about art but also suggests that being here is what has allowed him to go back to painting after devoting much of his recent career to video work.Freed from the pressure to consider “abstract painting as a tool for conceptual arguments,” Hubbard suggests that in moving to L.A. he has cast off some of the “baggage” that the frenetic New York art dialogue sometimes imposes. “It’s hard to even make a mark with all of that in your mind,” he says.Basic Perversions runs through December 19 at Maccarone Los Angeles, 300 South Mission Road.ALEX HUBBARD[To be titled], 2015Pigmented urethane122 x 72.5 x 12.25 inchesALEX HUBBARD[To be titled], 2015Epoxy resin, fiberglass, pigmented urethane91.25 x 88.75 x 4 inchesALEX HUBBARD[To be titled], 2015Epoxy resin, fiberglass, pigmented urethane98.25 x 80.75 x 6 inchesEX HUBBARD[To be titled], 2015 Acrylic paint, epoxy resin,fiberglass, and pigmented urethane121.5 x 73 x 12.25 inches TAGSAlex HubbardOscar TuazonMaccarone GalleryPrevious articleBentley Mulsanne Speed: Better Equipped for Wilshire Than MulhollandNext articleThe Ride of Way: A View of Los Angeles from a Bicycle SeatLyle Zimskindlast_img read more

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British Land’s profit climbs on London boom

first_img Express KCS Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Kevin Can F**k Himself’ TV Review: Annie Murphy Blows Up the Idea of aThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap BRITISH Land said that underlying profit before tax rose 5.4 per cent to £313m for this financial year, up from £297m a year earlier. Diluted underlying earnings per share rose 4.1 per cent to 30.6p, an increase from 29.4p in 2014.The developer’s total portfolio valuation rose by 12.1 per cent to £13.63bn. This was driven by gains in offices and residential which rose by 18.8 per cent to £6.08bn “reflecting buoyant markets”.British Land, the developer behind the “Cheesegrater” as well as Leadenhall market, has been taking steps to increase the weighting of its portfolio to London and the south east. whatsapp British Land’s profit climbs on London boom whatsappcenter_img Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePower LifeWant to Feel Stronger at 60 than at 30? Top Expert Says Do This One ThingPower LifeHollywood-TaleMarg Helgenberger: She Is Happily Married to This ManHollywood-TaleZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoney PopMansion Was On Market For $10 But Nobody Wanted ItMoney PopNext RefinanceThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryNext RefinanceThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef PickArticles SkillDuring Prince Charles’ Broadcast, People Noticed Something Behind HimArticles Skill Thursday 14 May 2015 8:45 pm Tags: NULLlast_img read more

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News / China-Europe rail services put on steam, but exporting from UK can be costly

first_img© Artem Egorov By Alex Lennane 26/06/2020 Despite rail services between China and Europe becoming increasingly popular amid blanked sailings and high air freight rates, the service from the UK has slim margins and takes too long.“We have rarely used rail before, but we are now using it for UK exports” said one UK-based forwarder. “However, it is more expensive to get a container from the UK to Duisberg, than it is to move it from Duisburg to Xi’an,” he added.“It also, realistically, takes about 25 days from the UK.”But he said customers had read that it takes 14 days, spiking their interest.Shippers have increased their enquiries about rail, agreed Anthony Plummer, UK managing director for Ligentia Enterprise.“Enquiries for rail and road shipments from Asia have increased significantly due to the quicker transit times than seafreight. Services are now regular and reliable, giving customers confidence to move via rail and road.“We find that providing options and visibility on all modes is key to helping supply chains react to the Covid-19 disruptions and allowing informed routing decisions to be made.”But the UK forwarder said he would not necessarily encourage shippers to use eastbound rail services, from the UK at least.“The schedules are regular and reliable, but I probably wouldn’t encourage shippers to use it. There’s not much of a margin. It’s about $2,500 from railhead to railhead, but the final leg can be another $2,500.“But it’s probably worth it from Germany. If you can turn the container around for $700 and get an extra day or more, it becomes viable.”He said it could take up to five days to get to Germany from the UK, and with sea freight taking 30 to 35 days and, normally, costing about $1,500 including pre-carriage, it was the better option. However, he did acknowledge that sea freight rates were currently high.But he added: “Rail has to make a profit both ways, whereas container lines pay for the round trip and subsidise exports to get the container back. Sea and rail have different dynamics; rail essentially has two headhauls. And it can’t take that many containers.”One sector, however, has increased its use of rail: postal services. April saw the first full-length mail container train, with a further 16 services since.“Due to the limitations imposed on air freight, the railway channel offered by UTLC ERA started fulfilling the strategic role of a reliable link between China and Europe for uninterrupted mail delivery,” said Alexey Grom, its chief executive.last_img read more

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Autism may affect not just brain but sensory nerves, mouse study suggests

first_imgIn the LabAutism may affect not just brain but sensory nerves, mouse study suggests Is the dramatic rise in autism tapering off? And over time these mice don’t acclimate to touch the way that normal mice do — akin to feeling your clothes on your skin all the time, Ginty said. “We would argue that’s pretty disruptive.”Perhaps most intriguingly, the mutation just in touch cells had dramatic effects on the mice’s social lives.When the researchers placed the mice in cages with a strange mouse, the mice with touch sensitivity were as antisocial as mice with the gene mutation in their whole bodies.That is one of the most fascinating questions the study raises, Ginty said: “What is it about having normal sensation that shapes the brain to give rise to normal cognitive behavior?” Autism impacts kids and adults socially and behaviorally — but it also impacts their senses. For instance autistic individuals may dislike being touched, or be especially averse to things like scratchy wool or buzzing refrigerators.New research, for the first time, gives a hint as to why. A study in mice finds that autism has effects not just on the brain but also on the nerves in the skin that respond to touch. And this heightened sensitivity affects not just their sensory experience of the world but also their social interactions.David Ginty and colleagues at Harvard Medical School studied mice with genetic mutations that are associated with autism and also with a developmental syndrome called Rett syndrome that often causes autism. Mice with these mutations share some similarities to patients with autism and Rett syndrome — they’re anxious, avoid social contact, and have a hypersensitivity to touch.advertisement By Anna Vlasits June 9, 2016 Reprints A 7-year-old student with autism receives help painting from his teacher at a school in Havana. Franklin Reyes/AP The team engineered mice with the mutation in only some of their cells, in either the brain or in touch receptor cells throughout their skin that go into the spinal cord.When they tested the mice’s reaction to puffs of air on their backs, they found that the Rett syndrome mutation in the nerves caused them to be especially startled, which wasn’t true if the mutation was just in the brain. Looking at the cellular level, scientists saw that the touch nerves were overactive. “Everything’s coming in with the volume turned all the way up,” Ginty said.advertisementcenter_img Related: Related: The findings were published Thursday in Cell.“I’m very excited about this study,” said Caroline Robertson, a postdoctoral autism researcher at Harvard University who was not involved in the study “Importantly, it demonstrates a direct link between very low level symptoms,” like touch sensation, “and higher order differences in behavior,” like antisocial behavior.However, Robertson points out that autism in humans is more complicated than a single mouse model. “The tricky thing about autism is that everyone has their own hypersensitivities, and sometimes even hyposensitivities,” or things they have reduced sensitivity toward.Helen Bateup, a professor of neurobiology at the University of California, Berkeley, agrees. “There are a lot of autism genes that are only expressed in the brain,” and therefore wouldn’t affect the nerves in the skin. “I don’t see how this could be a general mechanism for all of autism. [But] this might be an interesting mechanism for some kinds of causes of autism.”Its meaning for treatment is less clear at this point. Ginty is looking into it: “Can we add back the gene in sensory neurons and reverse the tactile dysfunction — and maybe even the anxiety-like behavior?” A drug therapy could also theoretically tamp down overactive touch nerves, and maybe reduce touch sensitivity, though whether that would affect social interactions would need to be studied. Is too much folic acid during pregnancy a contributor to autism? Tags autismbrainlast_img read more

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Property Watch: Five ‘Doer-Uppers’ in Laois for under €100k

first_img Five Laois monuments to receive almost €200,000 in government funding 1 of 3 Facebook 1 of 2 Twitter A partially finished bungalow residence of 3,000 sq ft  – completed to wall plate level. tanding on Circa 2 Acres, it has potential for second dwelling (subject to planning).Situated on a fine elevated site, according to its daft.ie posting, with “outstanding views of the surrounding countryside”.The property is approximately one mile off the main Abbeyleix-Carlow road, five miles from Abbeyleix and Clogh, nine from Castlecomer and 14 Portlaoise.Guide price: €85,000Cullahill WhatsApp 1 of 2 For sale by private treaty, this property in St John’s Square is situated in a quiet cul-de-sac just off the Borris Road. The traditional two-bedroom end of terrace residence offers loads of potential and is close to Portlaoise Town Centre, railway station and parish church. These properties do not come to the market very often.Guide Price: €95,000Middlemount, Rathdowney Pinterest Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ 1 of 2 WhatsApp Cullahill Previous articleTwo Laois businesses feature in new book about Irish entrepreneursNext articleDisappointment for Portlaoise AFC in cup final as Edenderry pull through Steven Millerhttp://www.laoistoday.ieSteven Miller is owner and managing editor of LaoisToday.ie. From Laois, Steven studied Journalism in DCU and has 14 years experience in the media, almost 10 of those in an editorial role. Husband of Emily, father of William and Lillian, he’s happiest when he’s telling stories or kicking a point. This four-bedroom property is situated on the main Durrow-Johnstown road in the heart of Cullahill village. The property has the benefit of a ground floor retail unit and 2 large garages which may suit a small business.Guide Price: €85,000Crannagh, Mountrath Graiguenahown, Spink This is the most expensive property on this list and Hume Auctioneers are describint it as a “delightful small equestrian property on 1.1 Acres with three stables and several outhouses enjoys a beautiful setting in the foothills of the Slieve Bloom Mountains”.Whilst the property is in need of some repair it is generally in excellent condition throughout. Perhaps the greatest asset of this property is the large paddock to the rear beautifully enclosed with equestrian fencing and resplendent in its setting amongst the rolling hills of the Slieve Blooms. Mountrath, Coolrain and Camross are just 5 minutes away, while the motorway in Portlaoise can be reached in 15.Guide Price: €99,00023 St John’s Square, Portlaoise St John’s Square Portlaoise Rugby 1 of 3 TAGSBallyroanCullahillDoer-UpperMountrathPortlaoiseRathdowneySpink Clement Herron Real Estate is pleased to welcome this 1970s bungalow to the market. This a fantastic opportunity for a DIY enthusiast to get stuck into an exciting project.The existing structure is sound but the property is in need of total refurbishment.Guide price: €80,000Graiguenahown, Spink Crannagh, Mountrath Pinterest Property Watch: Five ‘Doer-Uppers’ in Laois for under €100k Facebook You don’t need to be an auctioneer to know the language. “In need of some refurbishment”; “A handyman’s dream”.In other words it’s not in turnkey or showhouse condition. It’s a property that needs work and it needs money.But for some people that’s exactly what they’re looking for. They might be in a position to do a lot of the work themselves; they might be looking for something in that area but due to a shortage of homes or without a site to build on, this could tick all the boxes.So we’ve picked out five “Doer-Uppers” as they say, all in Laois, all under €100,000. We’ve a variety of different properties here – from a townhouse in Portlaoise to an unfinished new build in Spink to older properties in Rathdowney, Cullahill and Ballyroan.Cross of Newtown, Ballyroan Home Property Property Watch: Five ‘Doer-Uppers’ in Laois for under €100k Property By Steven Miller – 20th May 2018 RELATED ARTICLESMORE FROM AUTHOR 1 of 3 This detached three-bedroom house extends to almost 1,300 square foot. In the townland of Middlemount, it is 5km from Rathdowney.The property is being sold by online public auction by BidX1 on Thursday, May 31. There are open viewings of the property on Monday, May 21, and Monday, May 28, from 5.30pm-6.30pm.Guide Price: €70,000SEE ALSO – Five sites for sale in Laois that would make an ideal location for a family home Community Twitter Community Ten Laois based players named on Leinster rugby U-18 girls squad last_img read more

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In Pictures: Festival of the Mountain another huge success

first_imgHome News In Pictures: Festival of the Mountain another huge success News By LaoisToday Reporter – 3rd July 2018 In Pictures: Festival of the Mountain another huge success Pinterest Facebook Rugby WhatsApp Twitter SEE ALSO – Sugrue lashes critics of provincial championships and expresses reservations over Super 8s Pinterest Community Previous articleNew secondary school principal confirmedNext articleUPDATED: Laois minors qualify for Leinster championship semi final following tonight’s result LaoisToday Reporter center_img Twitter WhatsApp Five Laois monuments to receive almost €200,000 in government funding Glamorous grannies, bonny babies, fancy dress and tug-of-war were just some of the attractions at the Festival of the Mountain in Rosenallis on Sunday afternoon.There was something for everyone at annual festival, helped greatly by the fine weather and wonderful atmosphere.The Festival of the Mountain had been saved in May after the communities rallied together to support the annual festival in Rosenallis when it became known that it could come to an end this year.The 56 year old festival had low turnout at meetings to organise the event but when the organising committee called on the community for support, people answered.The first Festival of the Mountain took place on Sunday 26 August 1962 and was organised by the late PP Thomas Kennedy.But thankfully all went ahead on Sunday and crowds came in to enjoy the festival.Our photographer went along on the day and captured the best of the action: Community Ten Laois based players named on Leinster rugby U-18 girls squad Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ RELATED ARTICLESMORE FROM AUTHOR TAGSFestival of the Mountain Facebooklast_img read more

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IIAC calls for improvements to cease trade order database

Keywords Cease trade ordersCompanies Investment Industry Association of Canada “Many members are looking to automate their existing procedures with the respect to CTOs and the accuracy and consistency of the data contained in the CTO list is critical to automating their processes. To that end, members are requesting that the CSA make the necessary changes towards improving the data integrity of the CTO database,” it says. It notes that firms are specifically concerned with: formatting of security identifiers and CTO issue dates; the inability to match individuals by name; and, updates not being made to the CTO database to reflect corporate changes (such as reorganizations, or name changes). Furthermore, firms “believe that the CSA should consider implementing an automated system to update symbols, names, and security identifiers on a daily basis,” it says, adding that the CSA should also clarify the use of temporary CTOs, which often generate confusion. The industry would also like to see regulators avoid issuing intra-day CTOs. “Firms found the intra-day CTO issued in relation to the Sino-Forest situation to be troubling and challenging,” it says, noting that most CTOs are issued after 5:00 p.m., which allows firms to deal with them before markets open the next morning. “However, in the Sino-Forest case, the [Ontario Securities Commission] issued the CTO before the market opened, but the CSA did not release the CTO until 12:15 p.m. This becomes difficult for firms to manage and also results in a frustrating client experience. As a result, intra-day CTOs should be avoided if at all possible,” it says. Indeed, some of the problems cited in the letter stem from inconsistencies across jurisdictions. It notes that, “When a provincial securities commission receives information for a particular issuer that a ban is lifted, it is not reflected at another securities commission.” Moreover, it says that, “It appears that the administration of the database shifts to different provinces to manage on a rotating schedule,” which results in the emergence of numerous inconsistencies. “For example, it becomes unclear who the regular CSA staff contact is and often the response to inquiries can differ. A somewhat related issue is that firms have discovered that often, different guidance is given to clients and to firms when they are seeking a resolve a CTO situation.” And, it says that firms would also like to see all CSA jurisdictions allow an exception to sell cease traded securities under certain circumstances, similar to the exception provided by the B.C. Securities Commission. Therefore, the letter notes that firms would like the CSA to look at establishing a central office where there would be a dedicated group responsible for managing both technical and policy matters pertaining to CTOs; or that they consider delegating the administration of the CTO database to the Investment Industry Regulatory Organization of Canada. “Given that IIROC is responsible for regulating trading and market-related activities, members believe that IIROC may be better positioned to manage the communication and implementation of the CTOs since it is a national organization and could provide timely notifications to participants by issuing a trading halt when a CTO is issued,” it says. Share this article and your comments with peers on social media Northern Financial seeks cease trade order Related news James Langton OSC approves management cease trade order at cannabis company CannTrust Holdings First Leaside accepts OSC’s push for voluntary trading halt Facebook LinkedIn Twitter The regulators’ database of cease trade orders needs some improvement, and perhaps it should even be outsourced, says the Investment Industry Association of Canada in a letter to the Canadian Securities Administrators. The IIAC has written to the regulators to express some concerns with the accuracy and consistency of the CTO database, and made some suggestions to improve the integrity of its data. The letter indicates that the CSA has not followed up on promises to address industry concerns with the database, so it has been asked by firms to lobby the regulators on the issue. read more

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More needed to accelerate fintech’s growth: Competition Bureau

first_img Related news The federal Competition Bureau is calling for securities regulators and the financial services sector to do more to facilitate the growth and development of financial technology (fintech) in the agency’s final report on the emerging sector, which was released on Thursday. James Langton Rise of fintech includes many future risks, FSB says Mogo to acquire investing app The Competition Bureau released a draft report last month setting out its recommendations in three key areas: retail payments, crowdfunding and the investment dealing/advice sector. With some minor exceptions, the final report’s recommendations are little changed from the initial version. Read: Old obstacles affecting new competitors Read: Report aims to enhance fintech innovation and competition One notable change, though, is a greater emphasis on consumer protection related to crowdfunding in the recommendations for securities regulators. In particular, the Competition Bureau continues to call on regulators to provide guidance regarding the regulatory framework for crowdfunding, including the requirements for obtaining relief from know-your-client (KYC), know-your-product, suitability and prospectus requirements — but now adds the phrase “provided the necessary consumer protections are in place.” Outside of that, the Competition Bureau continues to recommend that regulation in the fintech space be principles-based, technology neutral and proportional to risk; that securities regulators should continue to harmonize their approach; and that regulators should encourage greater openness and collaboration. The final report also calls for the government to name a “fintech policy lead” for Canada to help facilitate greater investment in innovative businesses. The Competition Bureau’s recommendations for the investment advice industry are essentially unchanged from the draft report. Specifically, the final report recommends that regulators continue to push for increased price transparency and plain-language disclosure: “Prices for advice should be clear and easily understood by Canadians. Fees should be presented up front and consumers’ attention should be drawn to these fees.” The final report also calls on regulators to encourage the use of technology to facilitate account switching and to automate processes, such as the collection of KYC and suitability assessments; that they tailor regulation to facilitate the entry of robo-advisors as low-cost alternatives to traditional advice; and that regulators continue to utilize the existing passport system to enable fintech firms to operate nationwide. In addition, the final report calls on regulators to promote greater access to core infrastructure and services, such as the payments system; to embrace broader “open” access to systems and data in order to help clients shop around and switch firms; and to explore the potential of digital identification verification, which would also enable easier switching. Finally, the final report endorses the use of mechanisms, such as regulatory sandboxes and innovation hubs, to foster greater development in fintech. Photo copyright: rawpixel/123RF Share this article and your comments with peers on social media Wealthsimple’s peer-to-peer app goes national Keywords FintechCompanies Competition Bureau Estateably expands to Alberta Facebook LinkedIn Twitterlast_img read more

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Art of Living signs MoU with Medanta

first_img The missing informal workers in India’s vaccine story Share Heartfulness group of organisations launches ‘Healthcare by Heartfulness’ COVID care app Indraprastha Apollo Hospitals releases first “Comprehensive Textbook of COVID-19” Related Posts They aim to bring traditional practices of spirituality and principles of modern medicine together for patient well beingSri Sri Ravi Shankar, Art of Living and Dr Naresh Trehan, Chairman, CII Healthcare Council and Chairman & MD, Medanta – The Medicity, have signed MoU to cooperate and collaborate on bringing together traditional practices of spirituality and principles of modern medicine to take forward India’s strength in these two areas further.The MoU was signed at the Global Exhibition on Services 2017, jointly organised by Ministry of Commerce and Industry, CII and SEPC.Commenting on the MoU, the Founder of Art of Living said, “Yoga, Naturopathy, pranayama, kriya, meditation have proven beyond doubt that they are important for health of society and the individual. Fusion medicine will definitely help billions on this planet”.Dr Trehan said, “New fusion of medicine combining Ayurveda, spirituality and modern medicine will be a big move forward for India”. WHO tri-regional policy dialogue seeks solutions to challenges facing international mobility of health professionals Read Articlecenter_img Art of Living signs MoU with Medanta Phoenix Business Consulting invests in telehealth platform Healpha MaxiVision Eye Hospitals launches “Mucormycosis Early Detection Centre” News By EH News Bureau on April 21, 2017 Menopause to become the next game-changer in global femtech solutions industry by 2025last_img read more

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