e-Government as a regulatory response to the financial crisis: the case of the UK

This paper seeks to discuss EU policies relating to securities markets, created in the wake of the financial crisis and how ICT and specifically e-Government can be utilised within this context. This study utilises the UK as a basis for our discussion. The recent financial crisis has caused a change of perspective in relation to government services and polices. The regulation of the financial sector has been heavily criticised and so is undergoing radical change in the UK and the rest of Europe. New regulatory bodies are being defined with more focus on taking a risk-based system-wide approach to regulating the financial sector. This approach aims to prevent financial institutions becoming too big to fail and thus require massive government bail outs. In addition, a new wave of EU regulation is in the wind to update risk management practices and to further protect investors. This paper discusses the reasons for the financial crisis and the UK’s past and future regulatory landscape. The current and future approach and strategies adopted by the UK’s financial regulators are reviewed as is the lifecycle of EU Directives. The regulatory responses to the crisis are discussed and upcoming regulatory hotspots identified. Discussion of these issues provides the context for our evaluation of the role e-Government and ICT in improving the regulatory system. We identify several processes, which are elementary for regulatory compliance and discuss how ICT is elementary in their implementation. The processes considered include those required for internal control and monitoring, risk management, record keeping and disclosure to regulatory bodies. We find these processes offer an excellent opportunity to adopt an e-Government approach to improve services to both regulated businesses and individual investors through the benefits derived from a more effective and efficient regulatory system.

No Haus Like Bau

The project consists of a live performance taking the 2005 IKEA riot as the starting point for a speculative history of a fictional future, culminating in a choreographed re-enactment of the original event. It is accompanied by a film series explores the possibility of collective action emerging from the capitalist relations inherent in the consumer riot. The performance, staged at the Berlin Biennale, continues this research into re-enactment and post-1989 politics, using a stage set made of flatpack furniture. Using the aesthetics of Modernism and the avant garde, the project transposes early twentieth century utopian ideology to a present day setting where mass uprisings are motivated by cheap commodities. By re-evaluating biomechanics and Bauhaus theatre theory, these explorations of consumerism and revolution propose that the mechanized movement developed in conjunction with industrial labour survives as a historical re-enactment in the wake of manufacturing work in the west. In the absence of a visual language apt to the contemporary, No Haus Like Bau uses re-enactment as a retrogarde tactic. Its purpose on the one hand is to invoke trajectories for alternate futures that never materialized at an originary moment. On the other hand, the clash of past forms with present content serves to accentuate the historical changes that have thrown into question these forms. Rather than reflecting the present, the projection of the past into a fictional future aims to destabilize the dominant narrative that suggests the current configuration of art, politics and human nature has always been this way. The project has been widely exhibited internationally and supported by Film London and Arts Council England. A theoretical essay on re-enactment as a strategy for performance has been published in Art Papers and in Memory [MIT]. The project also formed the basis of a solo exhibition at Te Tuhi Art Centre, Auckland.

Is the future of electoral reform local?

The Electoral Reform Society has recently published two reports putting the case for electoral reform in local government. These suggest acceptance, in the wake of defeat in the 2011 Alternative Vote referendum, that the group’s ultimate goal of change to the Westminster electoral system is unlikely to be fulfilled soon and that a more gradual strategy is therefore needed. This paper examines this shift by asking three questions. First, is Westminster electoral reform really a dead letter? Second, is local electoral reform more likely—and, if so, just how much more likely? Third, would local electoral reform matter in itself?

Twentieth-century global-mean sea-level rise: is the whole greater than the sum of the parts?

Confidence in projections of global-mean sea level rise (GMSLR) depends on an ability to account for GMSLR during the twentieth century. There are contributions from ocean thermal expansion, mass loss from glaciers and ice sheets, groundwater extraction, and reservoir impoundment. Progress has been made toward solving the “enigma” of twentieth-century GMSLR, which is that the observed GMSLR has previously been found to exceed the sum of estimated contributions, especially for the earlier decades. The authors propose the following: thermal expansion simulated by climate models may previously have been underestimated because of their not including volcanic forcing in their control state; the rate of glacier mass loss was larger than previously estimated and was not smaller in the first half than in the second half of the century; the Greenland ice sheet could have made a positive contribution throughout the century; and groundwater depletion and reservoir impoundment, which are of opposite sign, may have been approximately equal in magnitude. It is possible to reconstruct the time series of GMSLR from the quantified contributions, apart from a constant residual term, which is small enough to be explained as a long-term contribution from the Antarctic ice sheet. The reconstructions account for the observation that the rate of GMSLR was not much larger during the last 50 years than during the twentieth century as a whole, despite the increasing anthropogenic forcing. Semiempirical methods for projecting GMSLR depend on the existence of a relationship between global climate change and the rate of GMSLR, but the implication of the authors' closure of the budget is that such a relationship is weak or absent during the twentieth century.

A wind tunnel model for quantifying fluxes in the urban boundary layer

Transport of pollution and heatout of streets into the boundary layer above is not currently understood and so fluxes cannot be quantified. Scalar concentration within the street is determined by the flux out of it and so quantifying fluxes for turbulent flow over a rough urban surface is essential. We have developed a naphthalene sublimation technique to measure transfer from a two-dimensional street canyon in a wind tunnel for the case of flow perpendicular to the street. The street was coated with naphthalene, which sublimes at room temperature, so that the vapour represented the scalar source. The transfer velocity wT relates the flux out of the canyon to the concentration within it and is shown to be linearly related to windspeed above the street. The dimensionless transfer coefficient wT/Uδ represents the ventilation efficiency of the canyon (here, wT is a transfer velocity,Uδ is the wind speed at the boundary-layer top). Observed values are between 1.5 and 2.7 ×10-3 and, for the case where H/W→0 (ratio of buildingheight to street width), values are in the same range as estimates of transfer from a flat plate, giving confidence that the technique yields accurate values for street canyon scalar transfer. wT/Uδ varies with aspect ratio (H/W), reaching a maximum in the wake interference regime (0.3 < H/W < 0.65). However, when upstream roughness is increased, the maximum in wT/Uδ reduces, suggesting that street ventilation is less sensitive to H/W when the flow is in equilibrium with the urban surface. The results suggest that using naphthalene sublimation with wind-tunnel models of urban surfaces can provide a direct measure of area-averaged scalar fluxes.

Cannabinoids and tremor induced by motor-related disorders: friend or foe?

Tremor arises from an involuntary, rhythmic muscle contraction/relaxation cycle and is a common disabling symptom of many motor-related diseases such as Parkinson disease, multiple sclerosis, Huntington disease, and forms of ataxia. In the wake of anecdotal, largely uncontrolled, observations claiming the amelioration of some symptoms among cannabis smokers, and the high density of cannabinoid receptors in the areas responsible for motor function, including basal ganglia and cerebellum, many researchers have pursued the question of whether cannabinoid-based compounds could be used therapeutically to alleviate tremor associated with central nervous system diseases. In this review, we focus on possible effects of cannabinoid-based medicines, in particular on Parkinsonian and multiple sclerosis-related tremors and the common probable molecular mechanisms. While, at present, inconclusive results have been obtained, future investigations should extend preclinical studies with different cannabinoids to controlled clinical trials to determine potential benefits in tremor.