June 18

BCSC compliance review highlights top deficiencies

first_img Conflicts, crypto, cyber risk: the year ahead in compliance James Langton Regulators aim to root out pandemic-driven liquidity issues Share this article and your comments with peers on social media Shortcomings in client statements and reporting were the top compliance issue for dealers, followed by know-your-client (KYC)/suitability, conflicts of interest/personal trading and advertising deficiencies, the BCSC reports. In contrast, the biggest issue for fund managers involved registration, followed by KYC/suitability and policies and procedures issues. The BCSC carried out 26 compliance reviews during the year, revealing a total of 171 compliance deficiencies, the report card says, noting that the top five deficiencies represent approximately 59% of all of the compliance problems it found. In terms of the top dealer deficiency, the BCSC says that it found instances of failures to deliver compliant trade confirmations and account statements. It also tested compliance with the new client relationship model (CRM2) requirements, which found issues with fund managers disclosing position cost information. The registration issues in the fund manager sector included failures to disclose outside business activities and the use of unregistered personal corporations for registrable activities. “We understand that this is tax efficient, but it is not allowed,” the BCSC notes in the report. The reviews also “identified a large number of disclosure-related deficiencies,” particularly in terms of the accuracy and upfront delivery of relationship disclosure information provided by dealers. The BCSC also reports that it took more action than it has in the past as a result of compliance reviews, including imposing conditions on the registration of seven firms. “In the past year, we identified a number of firms that had significantly higher than average deficiencies. As a result, we took compliance actions against these firms and imposed registration conditions on firms more frequently than we have in previous years. In some cases, we are working on enforcement actions,” the BCSC’s report notes. In the year ahead, the BCSC says that it will continue to focus its compliance reviews on the most common deficiencies it sees, including adherence to KYC, suitability, and CRM2 requirements. “We recommend that CCOs review this report card, as well as ongoing guidance from [Canadian Securities Administrators] staff notices to ensure their compliance programs meet regulatory requirements and to reduce the likelihood of adverse findings in a BCSC compliance review,” says Mark Wang, director of capital markets regulation at the BCSC, in a statement. Photo copyright: zerbor/123RF Related news The B.C. Securities Commission’s (BCSC) latest compliance report card, published on Wednesday, uncovered differences between dealers and fund managers in terms of top deficiencies, which is in stark difference with previous years. Keywords ComplianceCompanies British Columbia Securities Commission Facebook LinkedIn Twitter SEC examines rules for inter-fund tradinglast_img read more

January 26

Water parks, food court dining areas added to Texas’ latest wave of reopenings

first_img The governor began a phased reopening of the economy in late April, letting the state’s stay-at-home order expire and allowing retail stores, restaurants, movie theaters and malls to operate at 25% capacity. He then allowed barbershops and salons to reopen May 8 under certain restrictions.Abbott’s proclamation Tuesday came a day after the total number of coronavirus cases in Texas increased to 55,971, including 1,527 deaths, according to the latest data from the Department of State Health Services. Out of Texas’ 254 counties, 228 are reporting cases.The Texas Tribune is a nonpartisan, nonprofit media organization that informs Texans — and engages with them – about public policy, politics, government and statewide issues. Gov. Greg Abbott issued a proclamation on Tuesday announcing additional services and activities that can resume under his second wave of reopenings, allowing food courts in shopping malls to reopen immediately and giving the green light for water parks to begin operations with limited capacity starting Friday.Recreational sports programs for adults can restart Sunday, though games and similar competitions may not recommence until June 15. Abbott also permitted driver education programs to resume operations immediately.For food court dining areas that choose to reopen, Abbott is encouraging malls to designate one or more people who are responsible for enforcing social distancing and ensuring tables are cleaned and disinfected between uses.His announcement comes nearly a week after he unveiled his second wave of reopenings designed to kickstart the state’s economy during the coronavirus pandemic. Last week, child care facilities and bars at limited capacity were given the green light to reopen. While indoor and outdoor pools can operate at 25% occupancy, the governor’s previous directives have specifically said people should continue to avoid interactive amusement venues like water parks.Abbott was facing pressure, however, from a Houston-area water park that initially said last week that it would defy Abbott’s orders and reopen Saturday for Memorial Day weekend. Asked about that last week, Abbott told an Austin television station that his office was talking with operators to make sure they comply.“They subject themselves to potential litigation as well as potential licensing-based issues if they fail to comply, and so it’s a potentially business-dangerous process for them to proceed forward knowing that they are subjecting themselves to litigation if they open up and anybody contracts COVID-19,” he said to KXAN.The park ultimately decided not to open early, Community Impact Newspaper reported.last_img read more

January 26

Port Arthur woman shoots naked man after he enters home without permission, cops say

first_img “The occupant of the apartment discharged her weapon, striking the male subject,” Det. Mike Hebert said. “The male subject’s injuries were non-life threatening and he was transported to a local hospital for treatment.” Officers arrived and found a male at the scene who sustained a gunshot wound to his lower extremities.Investigation revealed this male approached an apartment while completely nude and knocked on the door. A female occupant opened the apartment door and the male walked in without permission. A naked man was shot in Port Arthur after he entered a woman’s home without permission, police said.On Monday at approximately 1:05 p.m., the Port Arthur Police Department received a 9-1-1 call in reference to a shooting at Avery Trace Apartments (4101 Highway 365).center_img Hebert said no arrests were made and the case is being turned over to the Jefferson County District Attorney’s Office for review.last_img read more

December 31

Green Mountain College to be auctioned off August 18

first_imgVermont Business Magazine Maltz Auctions, of Central Islip, NY, has announced that the campus of Poultney’s Green Mountain College will be auctioned off on August 18, at the campus of the defunct college. A press release from the company states that “a well-qualified, interested party” has placed a stalking-horse bid of $3 million for the property.Wikipedia defines a stalking-horse bid as “a bid for a bankrupt firm or its assets that is arranged in advance of an auction to act as an effective reserve bid.”On that basis, the auction will proceed “with $3.2m being the next bid increment accepted,” in the words of Keith Lowey of Foxborough, MA-based Verdolino & Lowey, the college’s chief restructuring officer, as quoted in the release. “In 2016 the property was appraised at $20m.”“This quintessential New England campus had been the home of Green Mountain College, a private 4-year liberal arts school focused on environmental, social, and economic sustainability, which unfortunately closed at the end of 2019,” the release quoted Lowey, apparently referring to the end of the academic year in May of 2019, when the final commencement was held.Since that time the college has been seeking a buyer through Colliers International Real Estate, and now via bids.The release describes the property as having 155 acres, including a working farm. However, the town of Poultney’s property map data list refers only to a core campus of 114.37 acres and four nearby residential properties totaling 1.21 acres.The college also owns two isolated undeveloped parcels, totaling 5.6 acres, across the Poultney River, the state border, in New York, according to Washington County (NY) records.According to VBM’s sources, the farm has not been active since the college closed, and the lanes leading into the farm are cordoned off, although the hayfield has been cut.”There are also favorable financing options available for qualified buyers,” the release notes.It is uncertain whether offers higher than the $3 million bid reported have come in since July 8, the date of the release, which does note that the property is “subject to sale prior to auction as pre-auction offers will be considered.”Maltz Auctions CEO Richard Maltz said, “We are pleased there was great interest in this property as it represents an exceptionally rare opportunity to acquire an environmentally sustainable, green campus that is superbly located and beautifully maintained in a single transaction. The party who placed the $3m stalking horse bid understands that there is incredible reuse or redevelopment potential – and great value.”last_img read more

September 16

Wrestling roundup: Shelby downs Ravenna while Muskegon and Muskegon Catholic fall

first_img DEAL OF THE DAY (1862) Share Report a problem This item is… Not relevant Inappropriate / Offensive Shop Now Ads by Amazon × × DEAL OF THE DAY Add Comments (Max 320 characters) (1461) Other Add Comments (Max 320 characters) Add Comments (Max 320 characters) Displayed poorly ENDS IN Other (124) Report a problem This item is… Franklin Sports MLB Electronic Baseball … (8187) Bestseller Shares Displayed poorly Inappropriate / Offensive × Other Not relevant Displayed poorly 0 Bestseller Bestseller Other FOX Sports: Stream live NFL, College Footbal… $0.00 Displayed poorly Thank you! This will help us improve your ad experience. We will try not to show you such ads again. ENDS IN DEAL OF THE DAY Report a problem This item is… Thank you! This will help us improve your ad experience. We will try not to show you such ads again. ENDS IN LocalSportsJournal.comThe Shelby wrestling team had a strong performance in a 63-16 victory over Ravenna on Wednesday night.Winning matches for Shelby were Hayden Bowen (112), Michael Silva (119), Will Kidder (125), Alvaro Avilez (140), Kameron Bronkema (145), Nick Felt (152), Chris Beyer (160), Jose Mendoza (171), Jakob Whitlow (189), Simon Payne (215) and Zachary Parker (285).Winning Ravenna wrestlers on the night were Nicholas Scofield (103), Joshua Kooiman (130) and Chad English (135).MUSKEGON FALLS – The Muskegon wrestling team fell 84-0 to Reeths-Puffer and 78-6 to Allendale on Wednesday.The lone winning wrestler for the Big Reds was Nate Crump (140) who finished 1-1 on the night.MUSKEGON CATHOLIC DROPS TWO – The Muskegon Catholic wrestling team fell 52-24 to Orchard View and 72-9 to Kent City on Wednesday.Gabe Ford (140) and AJ Locke (215) each had two wins for the Crusaders while Aide Cook (160) and Kam Willer (171) each had one win. $26.86$49.99 Bestseller Add Comments (Max 320 characters) Not relevant $0.00 Displayed poorly DEAL OF THE DAY Inappropriate / Offensive Add Comments (Max 320 characters) Inappropriate / Offensive Add Comments (Max 320 characters) ENDS IN (35539) ENDS IN Inappropriate / Offensive Fox Sports Go Not relevant A Warrior’s Heart Inappropriate / Offensive Displayed poorly × Report a problem This item is… Other $14.99 Report a problem This item is… Bestseller $3.99 DEAL OF THE DAY $59.99 $0.00 DEAL OF THE DAY Displayed poorly Other (33138) The League Share Thank you! This will help us improve your ad experience. We will try not to show you such ads again. (1009) ENDS IN Thank you! This will help us improve your ad experience. We will try not to show you such ads again. × NBC Sports Not relevant Bestseller Not relevant DEAL OF THE DAY Bestseller ENDS IN Report a problem This item is… Add Comments (Max 320 characters) Add Comments (Max 320 characters) Other × Thank you! This will help us improve your ad experience. We will try not to show you such ads again. Report a problem This item is… × ENDS IN Thank you! This will help us improve your ad experience. We will try not to show you such ads again. Thank you! This will help us improve your ad experience. We will try not to show you such ads again. Inappropriate / Offensive Range: Why Generalists Triumph in a Special… $15.29$17.99 Thank you! This will help us improve your ad experience. We will try not to show you such ads again. Inappropriate / Offensive Not relevant Bestseller Not relevant × Other Displayed poorly Dude Perfect Signature Bow Nerf Sports Bi… Report a problem This item is… (22) DEAL OF THE DAY Mail Ads by Amazonlast_img read more

August 30

Ighalo Is Proving Me Wrong Ex Man Utd Striker Berbatov Admits

first_imgFormer Manchester United striker Dimitar Berbatov has admitted that he was wrong about doubting Odion Ighalo’s suitability for the Red Devils.Ighalo’s surprise deadline day transfer to United on a six-month loan from Chinese side Shanghai Shenhua caught many by surprise and divided opinion among the club’s fans, pundits and ex-players.While the move was widely celebrated in Nigeria and across Africa, a number of noted ex-United players like Gary Neville and Rio Ferdinand expressed reservations and Berbatov has admitted he did too.While the deal was initially couched in terms of Ighalo being a back up with Marcus Rashford injured, the fact that a club of United’s stature sought out a 30-year-old plying his trade in China alarmed many.His record in the Premier League with Watford before he moved to China where he scored just once in 18 outings in the first half of the 2016/2017 season following an impressive outlay the previous season also gave some cause for concern.Ighalo has however answered his critics emphatically making an immediate impact on the team with 3 goals in 6 appearances.His arrival along with the club’s other acquisition in January has seen United enjoy their best spell of form this season with the Old Trafford side currently unbeaten in nine games.And Berbatov is happy to walk back his initial disapproval of the Nigerian, noting that United looked transformed with Ighalo leading the line.“I’m really happy to see that Odion Ighalo is settling in well and he deserves it with the way he is playing, how he links the plays and the goals he is scoring,” Berbatov, who scored 56 goals in four seasons at United, told Betfair.“All the team are happy when he scores which shows he is fully integrated, and I like the way he looks for the ball and bullies the defenders.“I’ll be honest, I didn’t know too much about him before he joined… I knew about his record in the Premier League but I questioned if he was the right man and if he would get into the team, but so far he is doing well and proving me wrong.”United take on city rivals Manchester City in the Manchester Derby later today.RelatedGernot Rohr Reacts To Odion Ighalo Man Utd Move (AUDIO)February 3, 2020In “England”“Ronaldo: I’d Spend Countless HOURS WATCHING Ighalo on Youtube…He’s My Model” Nigerians Go Berserk As Former S’Eagles Striker Registers 4th Man Utd GoalMarch 13, 2020In “Europa League”Odion Ighalo Set For Manchester United HeartbreakMay 25, 2020In “England”last_img read more

October 27

Indiana’s Tom Crean Reportedly Told An Official “You Suck” After Hoosiers’ Loss To Wichita State

first_imgTom Crean has a weird face going on while being interviewed by Seth Greenberg.Indiana’s Tom Crean does not appear to be handling his team’s NCAA Tournament loss to Wichita State very well. According to Dirk Chatelain of the Omaha World-Herald, Crean reportedly had words for an official after the No. 10-seeded Hoosiers’ 81-76 loss to the No. 7-seeded Shockers Friday afternoon. “You suck,” Crean told the official, according to Chatelain. As the horn sounded, Tom Crean looked at official Kipp Kissinger (Nebraska native) across the floor and said, “You suck.”— Dirk Chatelain (@dirkchatelain) March 20, 2015The Hoosiers did not get the benefit of the officials’ whistle, as Indiana was called for 26 fouls compared to 17 on Wichita State. Will Crean be back in Bloomington next season?last_img

October 27

Alabama Football: Alabama’s Nick Saban Did The Electric Slide At Daughter’s Wedding, Tried To “Learn The Wobble”

first_imgHead coach Nick Saban of the Alabama Crimson Tide celebrates their 38-17 win over the LSU Tigers at Bryant-Denny Stadium.TUSCALOOSA, AL – NOVEMBER 09: Head coach Nick Saban of the Alabama Crimson Tide celebrates their 38-17 win over the LSU Tigers at Bryant-Denny Stadium on November 9, 2013 in Tuscaloosa, Alabama. (Photo by Kevin C. Cox/Getty Images)One of the best videos we’ve ever seen was footage of Alabama head coach Nick Saban doing the Electric Slide in January 2014. Video of said dance is here. It turns out that Saban is a pretty-big fan of the dance. This morning, the Crimson Tide coach appeared on The Dan Patrick Show. During his appearance, he discussed his daughter’s wedding that took place this past weekend. Did he do any dancing? Of course he did. Nick Saban told us he did dance to the “Electric Slide” at his daughters wedding.— Paul Pabst (@PaulPabst) June 4, 2015Nick Saban on @dpshow. Which song made him dance at his daughter’s wedding? “Electric slide. We were out there for that.”— Zac Ellis (@ZacEllis) June 4, 2015Nick Saban just said on the @dpshow that one of his favorite dances is the electric slide. And he “tried to learn the wobble.”— Dr. Saturday (@YahooDrSaturday) June 4, 2015We need video of that and we need it right now.last_img read more

October 23

Two Dead after Tanker Explosion in Tuzla Shipyard

first_imgAn explosion and fire aboard an Aframax tanker at the Turkish Tuzla Shipyard took the lives of two workers, while 11 more were injured.According to local media reports, the incident occurred aboard the Hong Kong-flagged crude oil tanker LR2 Poseidon during maintenance works at the repair yard.The reports suggest that the explosion occurred in the ship’s boiler room in the afternoon hours of January 28.A team of fire fighters were sent to the scene and managed to extinguish the fire later that day.The local prosecutor’s office launched an investigation into the cause of the incident.According to data provided by VesselsValue, the 2009-built tanker is owned by Hong Kong-based Cido Shipping. The 109,996 dwt ship arrived in Tuzla for maintenance on January 22.World Maritime News Stafflast_img read more

October 15

KARI SKOGLAND ON DIRECTING THE HANDMAIDS TALE

first_img Login/Register With: Kari Skogland – Photo by David Leyes Advertisement Kari Skogland’s resumé includes Vikings and The Handmaid’s Tale. Here, the veteran director and showrunner shares some insider intel ahead of The Handmaid’s Tale season two premiere in April.1) What her job actually entails. “On some shows, like The Handmaid’s Tale, I’m simply one of the directors they’ve brought in. Sometimes I create the idea for a show and sell it; other times I showrun, which means I’m the overall person who oversees everything. It also depends on what stage of production we’re in. When I’m prepping, I’m constantly communicating with the team about creative solutions. I also meet with actors for coffee so we can get a language of trust going on both sides. When we’re shooting, I’m available to all the crew. I’m not there to solve their problems, but I am there to encourage their creative spirit.”2) The dial is moving on getting women working behind the scenes in Hollywood—but way too slowly. “I think, like, 7 to 9 percent of directors are women. People say they can’t find female directors, but the reason for that is there’s no access, no entry point. They don’t appear overnight—you have to create a space where they can grow and be discovered. It requires advocacy on the part of the big players. People are starting to take risks. There’s no way The Handmaid’s Tale would have gotten made three or four years ago, and I hope it’s giving people the confidence that these sorts of unique, feminist stories work and that people—men and women—want to watch them.” Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment Twitter Facebook Advertisementlast_img read more