Comment Letter: The NYSE and the End of the Structural Separation between Regulatory and Commercial Interests of the Exchange

The NYSE transformed into a for profit entity in 2006. As part of the approval process, the NYSE agreed to structurally separate the regulatory function from the business function. In doing so, the NYSE created NYSE Regulation, a non-profit with an independent board, to handle most regulatory matters. During the comment period, a spirited debate arose over the ability of a for profit company to carry out a regulatory mission. Some suggested that the regulatory function was incompatible with a "for profit" motive and that NYSE Regulation should be spun off. Others accepted the proposed structure but called for additional changes designed to reduce the possible influence of the public holding company over the regulatory function. In the end, the SEC approved the structure but with a number of prophylactic safeguards including the requirement that NYSE Regulation have a board consisting of all independent directors (save the CEO) and that directors from the for profit holding company could not make up a majority of the board. More recently, however, the NYSE has proposed to end the structural separation of the two functions and instead put in place a functional separation. The proposal would result in the termination of the delegation agreement between the Exchange and NYSE Regulation and the creation of both a Regulatory Oversight Committee of the Board of Directors of the Exchange and the creation of a Chief Regulatory Officer. This letter examines the history of the separation of the two functions and critiques the NYSE's proposal.

Nostalgic representation of reality in television fiction: an empirical study based on the analysis of the Spanish television series Cuéntame cómo pasó

The Spanish transition from dictatorship to democracy is often described as an example of negotiation or agreement between the elites (Sánchez Cuenca and Aguilar, 2009: 433). Journalistic and political elites, aware of their important historical role, agreed a consensus on certain issues (democracy, constitution, amnesty) or characters (King Juan Carlos I), in order to ensure the stability of the democratic process (Zugasti, 2007, 2008). Television, which articulates the discourse of the masses, has been one of the basic means used to illustrate the development. Among the highlights of recent major audiovisual content, Cuéntame cómo pasó (2001-present) -a TV-series designed to explain changes with a nostalgic tone in Spanish society since 1968 until today- stands out. By choosing a random sample of episodes for this research we propose to verify the validity of the representation of the political process which contextualizes the series. By analyzing many elements, such as the opinions of the main characters, their personal, political and geographical situations, we try to show the construction of a focal point that sanctifies the official version. We also stress the pacifying and nostalgic tone, which constructs stereotypes and taboos about the process and which characterizes this series as a symbolic culmination of the democratization undertaken by the elites.

Effect of the porous structure in carbon materials for CO2 capture at atmospheric and high-pressure

Activated carbons prepared from petroleum pitch and using KOH as activating agent exhibit an excellent behavior in CO2 capture both at atmospheric (∼168 mg CO2/g at 298 K) and high pressure (∼1500 mg CO2/g at 298 K and 4.5 MPa). However, an exhaustive evaluation of the adsorption process shows that the optimum carbon structure, in terms of adsorption capacity, depends on the final application. Whereas narrow micropores (pores below 0.6 nm) govern the sorption behavior at 0.1 MPa, large micropores/small mesopores (pores below 2.0–3.0 nm) govern the sorption behavior at high pressure (4.5 MPa). Consequently, an optimum sorbent exhibiting a high working capacity for high pressure applications, e.g., pressure-swing adsorption units, will require a poorly-developed narrow microporous structure together with a highly-developed wide microporous and small mesoporous network. The appropriate design of the preparation conditions gives rise to carbon materials with an extremely high delivery capacity ∼1388 mg CO2/g between 4.5 MPa and 0.1 MPa. Consequently, this study provides guidelines for the design of carbon materials with an improved ability to remove carbon dioxide from the environment at atmospheric and high pressure.

Thermal decomposition of the different particles size fractions of almond shells and olive stones. Thermal behaviour changes due to the milling processes

The aim of this study is to investigate the effect of particle size on the non-isothermal pyrolysis of almond shells (AS) and olive stones (OS) and to show possible differences in the composition of the different fractions obtained after milling and sieving. The results obtained from the study of different particle size of AS and OS samples show significant differences in the solid residue obtained and in the shape and overlapping degree of the peaks, especially with the smaller particle size. These differences can be due to different factors: (a) the amount of inorganic matter, which increases as particle size decreases, (b) heat and mass transfer processes, (c) different sample composition as a consequence of the milling process which may provoke changes in the structure and the segregation of the components (in addition to the ashes) increasingly changes the composition of the sample as the particle size decreases.

Tourism potential analysis of the castles of Vinalopó, Spain: an opportunity for social and tourist development of cultural heritage

Within the overall framework of the renewal process of coastal tourist destinations, cultural heritage has frequently been used as a key argument for the introduction and development of strategies for the diversification and differentiation of the traditional tourist product based on sun and sand. This is the situation of the province of Alicante, identified with the Costa Blanca geotourism brand, where there are important economic issues that could contribute to the renewal of this coastal tourist destination. One of the most significant heritage values of this space consists of a series of medieval fortresses located along the axis of the Vinalopó River, which has acted since prehistoric times as a natural route from within the provincial mainland to the coast. It is precisely the argument of this historical, territorial and landscape content that has been used repeatedly in recent years to develop initiatives aimed at the creation of a tourist product, currently inexistent, based on the route of the castles of Vinalopó. This communication aims to analyse the degree of tourism potential of the fortresses located in the towns of Biar, Banyeres de Mariola, Sax, Villena, Novelda, Elda, Petrer and Elche, which constitute the core of municipalities where these medieval fortresses are located, finally pointing out some proposals for the creation of a heritage tourism product.

Phase progression throughout the therapeutic process : longitudinal case studies

Tese de doutoramento, Psicologia (Psicologia Clínica), Universidade de Lisboa, Faculdade de Psicologia, 2016

Do Institutional Changes Make a Difference? A veto player analysis of how institutional changes in the Council of the EU influence legislative efficiency and outputs. Brugges Political Research Paper No. 31, October 2013

A driving argument behind recent EU treaty reforms was that more qualified majority voting (QMV) was required to reduce the potential dangers of legislative paralysis caused by enlargement. Whilst existing literature on enlargement mostly focuses on the question of what changed in the legislative process after the 2004 enlargement, the question of why these changes occurred has been given far less attention. Through the use of a single veto player theoretical model, this paper seeks to test and explain whether enlargement reduces the efficiency of the legislative process and alters the type of legislation produced, and whether QMV can compensate for these effects. In doing this, it offers a theoretical explanation as to why institutional changes that alter the level of cohesion between actors in the Council have an influence over both the legislative process and its outcomes.

Eurasian integration. Russia's attempt at the economic unification of the post-Soviet area. OSW Study 44/2013

In 2009, Vladimir Putin, the then Russian prime minister, gave impetus to the establishment of closer relations within what was then a still narrow group of three countries: Russia, Kazakhstan and Belarus. Russia was determined in embarking on the implementation of the principles of the Customs Union among these three states and, since 2012, within the Common Economic Space as well. This process of integration is intended to bring about the introduction of ‘four freedoms’ in this area: the free movement of goods, services, capital and labour. From Moscow’s point of view, building up such integration structures is especially necessary in order to counteract the economic expansion of the European Union and China. It also feels it is important to take measures against the loosening of the bonds between the CIS countries and Russia. At the same time, close co-operation is expected to guarantee for Russia that the strong politico-economic influences in this area will be maintained. Despite the numerous limitations of the integration process, such as the small number of the participating states or limited progress in implementing the CES, this is still the most advanced integration programme in the region seen since the collapse of the USSR. Progress in putting the rules of the Customs Union into practice can be seen as a success for Moscow. In turn, the formation of the CES is still at an early stage, and it is difficult to determine at this point to what extent the three countries will harmonise their markets.

Gibt es eine politische Philosophie der Europäischen Union? = Is there a political philosophy of the European Union?. ZEI Discussion Paper C223, 2014

In a theoretical context, the European Union is generally interpreted through the prism of integration theories, which in turn reflect the ever changing empirical reality of the integration process. ZEI Director Ludger Kühnhardt asks if and to what extent the process of European integration has begun to generate a specific political philosophy which uses the EU - and not the classical notion of the state – as the starting and reference point for its reasoning. Kühnhardt examines examples – such as the European notion of civil rights and the notion of the Union itself, but also critical categories such as euroskepticism – which indicate that the EU itself is beginning to be the starting point and frame of reference for a reflection on the common good. For now, a political philosophy in the context of the European Union exists only in an embryonic stage, but the topic may generate intellectual insights through further and deeper research.

The Cultural Construction of Political Action: The Case of the European Community's Single Market Program. CES Germany & Europe Working Papers, No. 04.3, December 1993

Explaining the emergence of the European Community's Single Market Program requires making sense of how that institutional project carne onto the political agenda. I suggest that there are two features of the political process that have been not well understood. First, large-scale institutional projects usually require political opportunities to come to fruition. Second, they require strategic actors who can frame such projects in broad ways in order to attract a wide variety of groups. My basic argument is that the European Commission is an organization whose function is primarily to solve the bargaining game that characterizes interaction within the Community and act as a strategic actor. This does not suggest that they are always successful or are the only source of ideas, but instead that they are the collective actor responsible for trying to frame collective interests in new cultural ways. To illustrate this point, I document how the; Single Market program evolved within the Commission and how other important Community actors carne to sign on to its goals over time.

Tab. 1: Rates of advance of the frontal push-moraines of 19 lobes in front of an approx. 4.5 km long margin of the Kötlujökull

In the last years masses of ice, about 5 km long, have been protruding from the lowest part of an advancing glacier margin of the Kötlujökull in Southern Iceland. In the summer of 1983, they appeared as sediment-covered lobes, 10-60 m long, bordering the glacier rnargin like agarland. 1 to 3 push-rnoraines without ice core, rnostly sickle-shaped, occured first in the frontal parts of the lobes: behind thern came several ice-cored moraines with heights of up to several metres. The active ice in front of the precipice of the glacier is called the "glacier-foot" in this paper. The digging out of 9 lobes and the measuring of the advance of 19 lobes showed that in most cases this glacierfoot had split up at its distal end into several plate- or stem-shaped pieces of ice which were situated one upon the other, separated by moraine deposits and proceeding irregularly into the foreland at the rate of several mm/h, The sometimes different rate of advance in the same lobe and different rates of advanee in adjoining lobes (some being entirely inactive) point to a type of rnovement which is independent of the general advance of the glacier. Research in the winter of 1983/84 showed less activity in 3 examined lobes, but the activity had not ceased. The advancement of the lower parts of the glacier-foot into and across the sands of the foreland implies the following genesis of pushmoraines: Shoving off a plate of sand, folding it and pushing it over the foreland at average rates of up to 7,2 mm/h, according to the investigations in thc summer of 1983. At a certain stage of the folding process, new folds begin to develop in front of the old, and the old folds are shifted onto the backslope of thc folds in front of them until they are completely unired. In this way, "püe-moraines" arise, which become higher and higher. They include two or more folds declining towards the glacier. Systems of small moraines presumably of the same genesis occur on old moraine areas in front of the Kötlujökull. The possible cause of formation of a glacier-foot is discussed, and the moraines of the Kötlujökull are compared with certain pleistocene push-moraines.

Utility of the Social Responsiveness Scale- Parent Report (SRS-Parent) as a Diagnostic Tool for Autism Identification

Thesis (Ph.D.)--University of Washington, 2016-06

Experimental muscle pain changes feedforward postural responses of the trunk muscles

Many studies have identified changes in trunk muscle recruitment in clinical low back pain (LBP). However, due to the heterogeneity of the LBP population these changes have been variable and it has been impossible to identify a cause-effect relationship. Several studies have identified a consistent change in the feed-forward postural response of transversus abdominis (TrA), the deepest abdominal muscle, in association with arm movements in chronic LBP. This study aimed to determine whether the feedforward recruitment of the trunk muscles in a postural task could be altered by acute experimentally induced LBP. Electromyographic (EMG) recordings of the abdominal and paraspinal muscles were made during arm movements in a control trial, following the injection of isotonic (non-painful) and hypertonic (painful) saline into the longissimus muscle at L4, and during a 1-h follow-up. Movements included rapid arm flexion in response to a light and repetitive arm flexion-extension. Temporal and spatial EMG parameters were measured. The onset and amplitude of EMG of most muscles was changed in a variable manner during the period of experimentally induced pain. However, across movement trials and subjects the activation of TrA was consistently reduced in amplitude or delayed. Analyses in the time and frequency domain were used to confirm these findings. The results suggest that acute experimentally induced pain may affect feedforward postural activity of the trunk muscles. Although the response was variable, pain produced differential changes in the motor control of the trunk muscles, with consistent impairment of TrA activity.

Oxidative folding of the cystine knot motif in cyclotide proteins

The cyclotides are a large family of plant proteins that have a cyclic backbone and a knotted arrangement of three conserved disulfide bonds. Despite the apparent complexity of their cystine knot motif it is possible to efficiently fold these proteins, as exemplified by oxidative folding studies on the prototypic cyclotide, kalata B1. This mini-review reports on the current understanding of the folding process in cyclotides. The synthesis and folding of these molecules paves the way for their application as stable molecular templates.

A combined spectrophotometric and morphometric study of the lunar mare dome fields near Cauchy, Arago, Hortensius, and Milichius

In this Study we examine the spectral and morphometric properties of the four important lunar mare dome fields near Cauchy, Arago, Hortensius. and Milichius. We utilize Clementine UV vis mulfispectral data to examine the soil composition of the mare domes while employing telescopic CCD imagery to compute digital elevation maps in order to determine their morphometric properties, especially flank slope, height, and edifice Volume. After reviewing previous attempts to determine topographic data for lunar domes, we propose an image-based 3D reconstruction approach which is based on a combination of photoclinometry and shape from shading. Accordingly, we devise a classification scheme for lunar Marc domes which is based on a principal component analysis of the determined spectral and morphometric features. For the effusive mare domes of the examined fields we establish four Classes, two of which are further divided into two subclasses, respectively, where each class represents distinct combinations of spectral and morphometric dome properties. As a general trend, shallow and steep domes formed out of low-TiO2 basalts are observed in the Hortensius and Milichius dome fields, while the domes near Cauchy and Arago that consist of high-TiO2 basalts are all very shallow. The intrusive domes of our data set cover a wide continuous range of spectral and morphometric quantities, generally characterized by larger diameters and shallower flank slopes than effusive domes. A comparison to effusive and intrusive mare domes in other lunar regions, highland domes, and lunar cones has shown that the examined four mare dome fields display Such a richness in spectral properties and 3D dome shape that the established representation remains valid in a more global context. Furthermore, we estimate the physical parameters of dome formation for the examined domes based on a rheologic model. Each class of effusive domes defined in terms of spectral and morphometric properties is characterized by its specific range of values for lava viscosity, effusion rate, and duration of the effusion process. For our data set we report lava viscosities between about 10(2) and 10(8) Pas, effusion rates between 25 and 600 m(3) s(-1), and durations of the effusion process between three weeks and 18 years. Lava viscosity decreases with increasing R-415/R-750 spectral ratio and thus TiO2 content; however, the correlation is not strong, implying an important influence of further parameters like effusion temperature on lava viscosity.