NASAA task force cracking down on Covid-related fraud

first_img Regulators must avert looming irrelevance: IAP Regulators issue new reporting guidance on systems outages IE Staff Investment-related schemes accounted for 154 of the 244 that were identified. The schemes covered 44 jurisdictions across Canada, the U.S. and Mexico.Jake van der Laan, chief information officer with the New Brunswick Financial and Consumer Services Commission and chair of NASAA’s Enforcement Technology Project Group, said Canadian task force members accounted for more than one-quarter of the actions taken. Some of these involved disrupting scams promoted on social media.Many scams play into widespread anxiety and “exploit trendy assets such as cryptocurrencies or mysterious programs involving forex trading and even investments powered by futuristic artificial intelligence — the types of products that may sound appealing, but also the types of products unfamiliar to inexperienced retail investors,” said Joe Rotunda, director of enforcement for the Texas State Securities Board and vice chair of NASAA’s enforcement section, in a statement. Keywords Regulatory burden,  RegulationCompanies North American Securities Administrators Association Facebook LinkedIn Twitter Gavel and legal books olegdudko/123RF Related news Incentive conflicts, regulatory burdens on AMF agenda North American securities regulators have acted on more than 200 pandemic-related schemes to defraud investors and consumers, many of them in Canada.The North American Securities Administrators Association (NASAA) said this week that its Covid-19 Enforcement Task Force — formed in April — has found 244 fraud schemes and taken 220 actions, ranging from cease-and-desist orders to referrals to other regulators. Share this article and your comments with peers on social medialast_img read more

Banker says local banks were not inefficient in 1990s

first_imgRelatedBanker says local banks were not inefficient in 1990s RelatedBanker says local banks were not inefficient in 1990s Advertisements FacebookTwitterWhatsAppEmail KINGSTON – Former Bankers Association of Jamaica (BAJ) president, Elon Beckford, has denied that inefficiency caused indigenous financial institutions to fail in the 1990s, while the foreign-owned institutions survived the high interest rate regime. Using his management team at the Horizon Financial Services group then as an example, Mr. Beckford told the FINSAC enquiry Thursday morning March 24, “I challenge any other financial institution to find a more competent and effective group of managers.” He said that the problem is that “it is the outcome which is sometimes used to judge” the capability of the Jamaican institutions. He said that this was bolstered by the view that, the banks which were not taken over by FINSAC were better managed. “The notion that indigenous institutions were poorly managed…that is clearly not a fair conclusion to arrive at,” Mr. Beckford told the Commission of Enquiry at the Jamaica Pegasus Hotel, New Kingston. The Commission, comprising accountant Worren Bogle, chairman, investment manager Charles Ross and retired judge Justice Henderson Downer, is reviewing the 1990s financial meltdown, which destroyed a number of financial institutions and businesses, as well as thousands of borrowers. Thousands of victims of the meltdown still owe hundreds of millions to the Jamaican Redevelopment Foundation (JRF) Inc., a Texan firm, which bought the bad debts in 2002 from the Government-owned Financial Sector Adjustment Company (FINSAC), which was formed to administer those debts. Mr. Beckford headed the BAJ 1988-1991, and chaired the Horizon group, which also ended up as a victim of the meltdown and a charge of FINSAC, in the 1990s. He told the Commission that while the foreign owned banks rejected investing in major projects in the real sector, on the basis that their bosses overseas were not interested, indigenous banks were part of the real market in Jamaica and had to invest in the real sector to promote growth and development. “This was one of the key differences which impacted on our overall operations. We were not privileged to use that as a readily acceptable answer,” Mr. Beckford said. He said that one of the major “Game Changers” introduced by the BOJ was the New Capital Adequacy Standards, during the period of high interest rates, which required varying levels of capital support in respect of non-performing loans, regardless of the quality of collateral securing the loan. “This immediately created some new challenges for all the indigenous institutions, especially the newer ones, supervised by the BOJ. The timing was unfortunate and one could conclude that all the implications were not carefully analysed,” Mr. Beckford stated. The enquiry will resume at the Jamaica Pegasus Hotel, New Kingston on Tuesday, March 29. The following day, Wednesday March 30, one of the most prominent bankers of the period who lost his Eagle group to FINSAC during the 1990s, Dr. Paul Chen Young, is expected to give testimony via closed circuit television. Banker says local banks were not inefficient in 1990s Finance & Public ServiceMarch 25, 2011 By BALFORD HENRY, JIS Reporter & Editor RelatedBanker says local banks were not inefficient in 1990slast_img read more

News / Despite blanked voyages, carriers still can’t fill Asia-Europe ships, hitting rates

first_img By Mike Wackett 22/02/2019 According to Alphaliner data, the 2M alliance has blanked the most westbound voyages, six, including its decision this week to cancel the AE2/Swan loop from its 2 March slot.The Ocean and THE alliances have so far each withdrawn three sailings from the route, while one voyage of the standalone HMM services has also been pulled.“Any further deterioration in spot rates could trigger further capacity withdrawals,” said Alphaliner.Speaking during the Maersk 2018 results earnings call yesterday, chief commercial officer Vincent Clerc said the European contract rate season had been completed and that the strength of rates at the end of last year had afforded the carrier “a better environment to negotiate”, and that they had been fixed “in line with a better climate”.However, Mr Clerc offered a note of caution: “I just want to remind you also that half of our business is actually short-term business that we negotiate either monthly or weekly, and that’s really where there is a lot of risk, even after the contracting season is done – a lot of risk is going to play out, because it is a significant part of our business and it is an extremely volatile part of the business.”Meanwhile, the SCFI recorded a further weakening for spot rates from Asia to the US, which is unfortunate timing for carriers as the transpacific contracting season gets under way.Rates from Asia to the US west coast fell another 6.2% to $1,720 per 40ft and have now slumped by 14% since CNY. For the east coast, spot rates declined by a further 4.4% to $2,837 per 40ft.Nevertheless, due to the spike in demand caused by the front loading of cargo to beat the threatened 2 March deadline for 25% duty on a raft of US imports from China, rates for the west coast are 22% higher than the same week in 2018, which supports the aspirations of carriers looking for 20%-plus hike in contract rates.But the sentiment is negative, putting carriers back on the back foot and encouraging BCOs to drag out contract negotiations.George Griffiths, editor of the Global Container Freight Market at S&P Global Platts, said: “With the US still very well stocked, there appears limited demand from the Chinese market, especially with the guillotine that is the US-China tariffs hovering just above the neck of any transpacific traffic.” ID 29000667 © Xuejingwen | Dreamstime.comcenter_img Both of the major east-west tradelanes recorded significant falls on today’s Shanghai Containerized Freight Index (SCFI), reflecting an increasingly soft demand environment.The Asia-Europe components of the SCFI saw container spot rates for North Europe decline 8.3% to $831 per teu, and rates for Mediterranean ports lose 6.8% to $857 per teu.Despite ocean carriers cancelling 13 Asia-North Europe sailings to mitigate the impact of post-Chinese New Year weak demand, the lines have still been unable to fill their ships and, as a consequence, spot rates are starting to tumble.One forwarder source told The Loadstar this week he had been offered $300 off of his current 40ft rate for the next two weeks.last_img read more

NAHBS 2015: White Industries cuts narrow-wide, direct mount chainrings & new 6-bolt disc brake…

first_imgWhite Industries showed off new narrow/wide direct mount chainrings fit directly on their cranks with a clean, one-piece design.They’ll start off with 28, 30 and 32 first, then gradually add bigger sizes in up to a 48, all in even increments of course. Why go so big? Cyclocross of course. Retail will be about $60 to $80 depending on size and should be available this summer.Rather than duplicate SRAM’s patent, which they never received a response to their licensing requests, they found an expired patent from someone else and used that tooth profile. The rings slot onto the grooves on the back of their crankarms, then use a threaded nut to secure them into place.The wider teeth have a more ramped, slightly lower looking bulge than some others we’ve seen, but should still provide enough material between the chain plates to keep it in line.On the hubs, they’re borrowing the curvier, more modern shape of their newer CLD (CenterLock Disc) hubs and putting it on an all-new 6-bolt disc brake hub.The design is still being finalized, so it may change from what’s shown here, but the goal is to reduce weight. They expect it to end up 40-50g lighter than the original, which you can see in the background.There’s also some big changes going on inside the hub, but they’re not ready to talk about that yet. We spun the freehub body of the new one compared to the old and it sounds like there are a few more engagement points and it’s definitely a bit smoother. These should be released around Interbike time. They’ll have all the current axle standards and options available, making them good for road, ‘cross, gravel and mountain bikes.WhiteInd.comlast_img read more

Jaguars unhappy Chiefs’ Chris Jones wasn’t fined for Nick Foles hit, report says

first_imgThe NFL implemented the “body weight” rule in 2018 in an effort to keep defensive players from throwing the passer down too aggressively or tackling the offensive player and then landing on top of them with the majority of their body weight. Jones took down Foles after he released a pass to DJ Chark. ESPN noted replays show that Jones put all of his body weight on Foles, which could be reason the Jaguars are unhappy the NFL didn’t give Jones a fine.  Related News NFL, NFLPA reviewing why Giants’ Sterling Shepard didn’t leave game after concussion, reports say Foles underwent surgery earlier this week and was placed on injured reserve with a designation to return. He’s reportedly hopeful to be back in Week 11. ​Despite the injury, Foles insisted after the game that he didn’t think Jones’ play was intentional and that he held no hard feelings against his former teammate. The Jaguars are upset the NFL didn’t fine Chiefs defensive lineman Chris Jones for his hit on quarterback Nick Foles that resulted in a broken collarbone in Week 1, according to ESPN, which cited unidentified sources. Jacksonville wanted Jones, who wasn’t penalized during the game, to be fined by the league because the team believes Jones’ hit should have been called as roughing the passer under the league’s “body weight” rule.  Saquon Barkley offers young fan tickets to Giants game after DeMarcus Lawrence snub “Chris Jones was my teammate in K.C., and I know he’d never want to do that,” Foles said. “It was probably just one of those things. It was just unfortunate it happened. I landed on it wrong, and it happens in this sport. We’ll keep moving forward.”Chris is a tremendous player, and I gave him a hug after the game because I was excited to see him.”Jacksonville will face the Texans in Houston on Sunday with kickoff set for 1 p.m. ET. NFL trade rumors: Taco Charlton looks to get out of Dallas, posts (then deletes) ‘free me’last_img read more

Marshfield girls basketball beats Newman Catholic to win home invitational

first_imgAll nine Tigers score in 13-point winBy Paul LeckerSports ReporterMARSHFIELD — With the game on the line, the Marshfield girls basketball team clamped down on defense and was able to pull out another win.Leading by four points with 5 ½ minutes to go, the Tigers outscored Wausau Newman Catholic 15-6 the rest of the way to win 65-52 and capture the title at its home Marshfield Tiger Girls Basketball Invitational on Wednesday afternoon at the Marshfield High School Fieldhouse.Meg Bryan hit her fourth 3-pointer of the game to start the run that included two free throws each from reserve guards Sara Dasler and Jenny Scheppler and late layups by backups Dani Bender and Ana Jensen.Marshfield went 2-0 at the tournament to improve to 9-1 this season. Newman Catholic is now 3-6, losing to Rhinelander on Tuesday as well. Hudson pounded Rhinelander 59-38 in the other game Wednesday as both of those teams finished 1-1.“We played with the lead for the whole game, which was a good thing, but they weren’t a team that was going to go away,” Marshfield coach Heidi Michaelis said. “With their offense, they lull you. You play defense for 45 seconds, and then they find a way to come clean or make a 3. That’s a killer for you on defense. We found a way to get a win, and that was our goal — two wins in two days — and we did that.”Marshfield scored the first four points of the game and never trailed, but it was far from easy for the Tigers.Newman Catholic made 12 of 23 shots from 3-point range, which included 5-for-7 from Lauren Fech and 4-for-8 from Taylor Jankowski, to keep it close throughout.Marshfield led by as much as nine in the first half and took a 29-22 lead into halftime after a late 3-pointer for McKayla Scheuer. The senior guard made 4 of 6 shots from long range and finished with 15 points.A Fech 3-pointer capped a 6-2 run by the Cardinals to start the second half and cut the lead to three.After Marshfield went back up by seven after two baskets from Ema Fehrenbach, who led the Tigers with 18 points and nine rebounds, Newman got it down to two at 44-42 with 7:44 left after a rebound and basket by Signe Fronek.Marshfield did not flinch and maintained its lead. Another 3-pointer from Jankowski cut the Tigers’ lead to 50-46, but the Cardinals only made two of their final eight shot attempts as Marshfield pulled away.“They did a good job on Ema in the first half and in the second half. McKayla didn’t score as much, but we were able to get it into Ema,” Michaelis said. “Everyone played, everyone scored, so that was good for those kids, and everyone was happy.”The Tigers return to action Tuesday at Chippewa Falls.(Hub City Times Sports Reporter Paul Lecker is also the publisher of MarshfieldAreaSports.com.)Tigers 65, Cardinals 52Newman Catholic 22 30 – 52Marshfield 29 36 – 65NEWMAN CATHOLIC (52): Lauren Fech 6-10 2-2 19, Signe Fronek 4-11 0-0 10, Makayla Slaby 0-3 1-2 1, Taylor Jankowski 4-10 0-0 12, Abbey Fox 2-6 2-6 6, Mikayla Tomsyck 0-0 0-0 0, Karina McGucken 0-4 1-2 1, Brogan Kimball 1-4 0-0 3. FG: 17-48. FT: 6-12. 3-pointers: 12-23 (Fech 5-7, Jankowski 4-8, Fronek 2-6, Kimball 1-2). Rebounds: 26 (Fronek 8). Turnovers: 15. Fouls: 16. Fouled out: none. Record: 3-6.MARSHFIELD (65): McKayla Scheuer 5-9 1-2 15, Dani Bender 1-3 0-0 2, Jenny Scheppler 0-0 2-2 2, Ana Jensen 1-1 1-2 3, Sara Dasler 0-0 4-4 4, Meg Bryan 4-12 3-4 15, Maddie Nikolai 1-7 0-0 2, Ema Fehrenbach 8-12 2-5 18, Hannah Meverden 2-6 0-0 4. FG: 22-50. FT: 13-19. 3-pointers: 8-16 (Scheuer 4-6, Bryan 4-9, Meverden 0-1). Rebounds: 34 (Fehrenbach 9). Turnovers: 7. Fouls: 12. Fouled out: none. Record: 9-1.last_img read more

Skyfire Debuts 3.0 for Android: A “Browser for the Social Networking Generation”

first_imgWhy IoT Apps are Eating Device Interfaces The Rise and Rise of Mobile Payment Technology mike melanson Role of Mobile App Analytics In-App Engagement Related Posts center_img Tags:#Browsers#mobile#web What it Takes to Build a Highly Secure FinTech … Skyfire, the mobile browser that brought Flash video to the iPhone, iPad and Android mobile devices, is unveiling version 3.0 for Android today. This latest version of Skyfire, dubbed the “Facebook edition”, offers a seriously slick social media integration that, quite honestly, we would like to see on our desktop. The key to the new version of Skyfire lies in the “Skyfire bar”, a bar of icons that rests at the bottom of the browser. From this bar, users can easily “Like” any page they visit and share it via Facebook, Twitter or email. That’s simple enough, though, right?Two features we really dig, however, are “Fireplace Feed Reader” and “Popular Content”. The first one provides a list of links, images and videos posted by your Facebook friends, meaning all the random status updates and musings are left for later – this is just the meat of your Facebook feed. “Popular Content”, on the other hand, looks at whatever page you’re on and cross references it with Facebook to see what other pages on that site are popular with Facebook’s 500+ million users. Pages shared by your friends float to the top, with the rest of the suggestions listed by overall popularity. Skyfire’s “OneTouch Search” also looks pretty slick, as you can search from the mobile browser and choose to focus that search on Google, Facebook, VideoSurf, Digg, Twitter or Amazon, all from a simple navigation bar. Now, when we say we wish we had a browser like this for the desktop, you might retort “What about RockMelt?” RockMelt, however, simply added standard Facebook functionality onto the edges of your browser. Skyfire’s new functionality sets it apart. There is no quick and apparent way on the Facebook website to just see all the content – the links, videos and images – posted by your friends. There’s also no way to navigate to NYTimes.com and see what the most popular stories are, according to your Facebook friends. But now there is – for Android users, at least.Take a look at the video overview and go get yourself a free copy before time runs out – Skyfire 3.0 is available free for a limited time in the Android Marketplace.last_img read more

Show of force

first_img‘A complete lie:’ Drilon refutes ‘blabbermouth’ Salo’s claims Hotel says PH coach apologized for ‘kikiam for breakfast’ claim “I’m glad that we won, but we’re still down (in the series),” Alaska coach Alex Compton said. “I expect Game 4 to be a lot more like Game 2 (which was close). I guarantee you, this (blowout of the Hotshots) will not happen again.”“I’m shocked,” Compton said of their 29-point victory. “I didn’t expect this.”FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSUrgent reply from Philippine ‍football chiefImport Mike Harris scored 36 points and had 18 rebounds in just three quarters, and Compton pulled rabbits out of his hat in Abe Galliguez and Carl Bryan Cruz to register their first win in the series.Romeo Travis scored 18 points and Mark Barroca 13 for the Hotshots, who will have three days to regroup.The startling difference in this game, aside from the score, was how well the Aces executed and minimized their mistakes. Adjusting on the match-ups and with his charges taking care of the ball a lot better this time, Alaska carved out an authoritative Game 3 win over Magnolia in the PBA Governors’ Cup title series.After losing the first two games of the best-of-seven series in contrasting styles, the Aces broke away in the second quarter to cut the Magnolia lead to 2-1 after a 100-71 victory at Ynares Center in Antipolo City on Sunday night.ADVERTISEMENT Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Jordan delivers on promise: 2 Cobra choppers now in PH Lakay’s Pacio faces Japanese, kicks off One’s 2019 season Sports Related Videospowered by AdSparcRead Next You can now mix and match your Bitmoji’s clothing LATEST STORIEScenter_img Australia appoints 76ers coach Brett Brown for Tokyo Olympics MOST READ Don’t miss out on the latest news and information. Palace: Robredo back to ‘groping with a blind vision’ In spite of Washington’s sanctions, Huawei sells more smartphones than ever Hotel management clarifies SEA Games footballers’ kikiam breakfast controversy After averaging 25.5 turnovers in the first two games, Alaska only had 15 for Game 3, with Chris Banchero finishing with 11 assists against just two errors. Harris, who came into the contest norming six errors a game, had three.“While it would be great to hope for this (blowout win) to happen again, it won’t,” Compton said of his expectations for Wedensday’s Game 4 at Smart Araneta Coliseum. “We’re going to bring the same level of intensity, but I don’t expect for one minute it will be like this.”Magnolia coach Chito Victolero accepted defeat by crediting how better prepared the Aces were. However, he had things to say about the game officials.“Just give credit to the Alaska team, they prepared (well) for this game,” Victolero said.“But I kept reviewing the tapes. For this game, the Alaska players were the ones holding my players and they weren’t calling the fouls. I just want consistency. Yes, I’m calling their attention now. Let’s be consistent.”ADVERTISEMENT View commentslast_img read more

Video: NC State Football Released The Worst Rendition Of Taylor Swift’s “Shake It Off” In History

first_imgA solo shot of Taylor Swift.BEVERLY HILLS, CA – JANUARY 06: Taylor Swift attends the InStyle And Warner Bros. Golden Globes After Party 2019 at The Beverly Hilton Hotel on January 6, 2019 in Beverly Hills, California. (Photo by Rich Fury/Getty Images)Pop superstar Taylor Swift is going to be in Raleigh Tuesday night for the next stop on her 1989 World Tour. Apparently, NC State’s football team would appreciate if she stopped by to say hello while she’s in town. Unfortunately, that means that they produced the world’s worst “Shake It Off” parody video (and that’s saying something).There isn’t much else we can say to prepare you for this, so, here:Hey @TaylorSwift13 we did THIS to get you to come see us when you’re in town tomorrow! https://t.co/mSO3LoTHbY pic.twitter.com/h2apnYX26p— NC State Football (@PackFootball) June 8, 2015We somehow doubt that it’s going to persuade her to join them in their weight room.last_img read more

Over 800 Children Benefit From Early Childhood Commission Reading Fair

first_img A total of 835 children from 43 basic schools across the island were treated to a day of fun and learning at a reading fair staged by the Early Childhood Commission (ECC). Senator Reid hailed the staging of the reading fair. “This is the kind of initiative that we really want,” he told JIS News. Story Highlights It was part of the ECC’s ‘Read Pon Di Cawna’ and ‘Read Across the Region’ initiatives launched last year to engage teachers, institutions, parents, public officials, agencies and other stakeholders in the effort to promote and instil a love for reading at an early age. A total of 835 children from 43 basic schools across the island were treated to a day of fun and learning at a reading fair staged by the Early Childhood Commission (ECC).The event, held recently at Orange Park, located at 12 Ocean Boulevard, downtown Kingston, saw Minister of Education, Youth and Information, Senator the Hon. Ruel Reid; and State Minister, Hon. Floyd Green, along with scores of persons from the private sector and the entertainment industry, reading to and interacting with the children.It was part of the ECC’s ‘Read Pon Di Cawna’ and ‘Read Across the Region’ initiatives launched last year to engage teachers, institutions, parents, public officials, agencies and other stakeholders in the effort to promote and instil a love for reading at an early age.Read Pon Di Cawna is being hosted in designated communities, while Read Across the Region targets early-childhood institutions within the educational regions.Senator Reid hailed the staging of the reading fair. “This is the kind of initiative that we really want,” he told JIS News.“It empowers them (children) and unleashes the ability to do very well academically,” he added, noting that reading enhances success in all aspects of life, as “everything hinges on the capacity to read”.Mr. Green, for his part, said that not only was the day educational but also entertaining, proving that children can have fun while learning.“It is very important for us to push reading, especially in the early years, and we are trying to engender a culture of reading by having parents and caregivers read to their children; that was what the day was about,” he says.The Education State Minister, in stressing the need for books in the lives of children, says that it is never too early to help children develop an appreciation for reading.As such, he is urging parents to cut the time that children spend watching television.ECC Chairman, Trisha Williams-Singh, said the objectives of the event were met, in terms of promoting reading among children at the early-childhood level.She noted that by reading, children develop “critical thinking”, which is important in later stages of learning.“It is very critical that we continue to develop that thinking in our children. Reading must be constant, and if we instil in our children, from early, to read, it becomes a domino effect where the toddlers will stick to the culture of reading and others will also be attracted to it,” she pointed out.“Too much money goes into remedial education. If we take the time and focus on the foundation, learners will enter the other levels of education with strong aptitudes,” she added.Executive Director of the ECC, Karlene DeGrasse-Deslandes, in expressing gratitude to the many sponsors, noted that the fair has reinforced the idea that reading should be an everyday occurrence. “Read more, connect with your children, have them explore,” with books, she said.Principal of the St. Andrew-based Kintrye Basic School, Desrine Mitchell, told JIS News that she was impressed with the staging of the event, and the prominent Jamaicans on hand to read to the children.She commended the ECC Chairman as a very “interactive and involved” official, who not only “wants solutions; she comes up with ideas. She creates opportunities for things to happen. This is really impressive”.Shericka Cowan, who heads the Naggo Head Infant School in St. Catherine, says she and her students received “blessings” at the fair, which she described as “interactive”.She expressed the wish for all schools to be exposed to similar sessions, because it is “good for learning and literacy”.Marketing Officer at Consolidated Bakeries, Tiana Sterling, who was among the cadre of sponsors in attendance, hailed the fair as a very good opportunity “to build a future of learners”.She told JIS News that the “children were very attentive and seemed to have enjoyed the day’s activities”.Managing Director of the Urban Development Corporation (UDC), Dr. Damian Graham, said his entity fully supported the event, which was about preparing children for the future.“Having early-childhood intervention like this is part of our mandate of making development happen. I am proud to be a part of this experience. We need more interventions like this… we will have transformation for the citizens of the future,” he noted.last_img read more