The role of rules-based compliance systems in the new EU regulatory landscape: perspectives of institutional change

Purpose The research objective of this study is to understand how institutional changes to the EU regulatory landscape may affect corresponding institutionalized operational practices within financial organizations. Design/methodology/approach The study adopts an Investment Management System as its case and investigates different implementations of this system within eight financial organizations, predominantly focused on investment banking and asset management activities within capital markets. At the systems vendor site, senior systems consultants and client relationship managers were interviewed. Within the financial organizations, compliance, risk and systems experts were interviewed. Findings The study empirically tests modes of institutional change. Displacement and Layering were found to be the most prevalent modes. However, the study highlights how the outcomes of Displacement and Drift may be similar in effect as both modes may cause compliance gaps. The research highlights how changes in regulations may create gaps in systems and processes which, in the short term, need to be plugged by manual processes. Practical implications Vendors abilities to manage institutional change caused by Drift, Displacement, Layering and Conversion and their ability to efficiently and quickly translate institutional variables into structured systems has the power to ease the pain and cost of compliance as well as reducing the risk of breeches by reducing the need for interim manual systems. Originality/value The study makes a contribution by applying recent theoretical concepts of institutional change to the topic of regulatory change uses this analysis to provide insight into the effects of this new environment

Assessment of production efficiency, physicochemical properties and storage stability of spray-dried chlorophyllide, a natural food colourant, using gum Arabic, maltodextrin and soy protein isolate-based carrier systems

P>The aim of this research was to study spray drying as potential action to protect chlorophyllide from environmental conditions for shelf-life extension and characterisation of the powders. Six formulations were prepared with 7.5 and 10 g of carrier agents [gum Arabic (GA), maltodextrin (MA) and soybean protein isolate (SPI)]/100 mL of chlorophyllide solutions. The powders were evaluated for morphological characteristics (SEM), particle size, water activity, moisture, density, hygroscopicity, cold water solubility, sorption isotherms, colour and stability, during 90 days. All the powders were highly soluble, with solubility values around 97%. A significant lower hygroscopicity was observed for GA powders, whilst the lower X(m) values obtained by GAB equation fitting of the sorption isotherms was observed for the 7.5 g MA/100 mL samples. All formulations, but the 1 (7.5 g SPI/100 mL of chlorophyllide), provided excellent stability to the chlorophyllide during 90 days of storage even at room temperature.

Building binary-tree-based multiclass classifiers using separability measures

Various popular machine learning techniques, like support vector machines, are originally conceived for the solution of two-class (binary) classification problems. However, a large number of real problems present more than two classes. A common approach to generalize binary learning techniques to solve problems with more than two classes, also known as multiclass classification problems, consists of hierarchically decomposing the multiclass problem into multiple binary sub-problems, whose outputs are combined to define the predicted class. This strategy results in a tree of binary classifiers, where each internal node corresponds to a binary classifier distinguishing two groups of classes and the leaf nodes correspond to the problem classes. This paper investigates how measures of the separability between classes can be employed in the construction of binary-tree-based multiclass classifiers, adapting the decompositions performed to each particular multiclass problem. (C) 2010 Elsevier B.V. All rights reserved.

Realistic calculations of carbon-based disordered systems

Carbon nanotubes rank amongst potential candidates for a new family of nanoscopic devices, in particular for sensing applications. At the same time that defects in carbon nanotubes act as binding sites for foreign species, our current level of control over the fabrication process does not allow one to specifically choose where these binding sites will actually be positioned. In this work we present a theoretical framework for accurately calculating the electronic and transport properties of long disordered carbon nanotubes containing a large number of binding sites randomly distributed along a sample. This method combines the accuracy and functionality of ab initio density functional theory to determine the electronic structure with a recursive Green`s functions method. We apply this methodology on the problem of nitrogen-rich carbon nanotubes, first considering different types of defects and then demonstrating how our simulations can help in the field of sensor design by allowing one to compute the transport properties of realistic nanotube devices containing a large number of randomly distributed binding sites.

Towards a Monitoring Framework for Agent-Based Contract Systems

The behaviours of autonomous agents may deviate from those deemed to be for the good of the societal systems of which they are a part. Norms have therefore been proposed as a means to regulate agent behaviours in open and dynamic systems, and may be encoded in electronic contracts in order to specify the obliged, permitted and prohibited behaviours of agents that are signatories to such contracts. Enactment and management of electronic contracts thus enables the use of regulatory mechanisms to ensure that agent behaviours comply with the encoded norms. To facilitate such mechanisms requires monitoring in order to detect and explain violation of norms. In this paper we propose a framework for monitoring that is to be implemented and integrated into a suite of contract enactment and management tools. The framework adopts a non-intrusive approach to monitoring, whereby the states of a contract with respect to its contained norms can be inferred on the basis of messages exchanged. Specifically, the framework deploys agents that observe messages sent between contract signatories, where these messages correspond to agent behaviours and therefore indicate whether norms are, or are in danger of, being violated.

A Framework for Monitoring Agent-Based Normative Systems

The behaviours of autonomous agents may deviate from those deemed to be for the good of the societal systems of which they are a part. Norms have therefore been proposed as a means to regulate agent behaviours in open and dynamic systems, where these norms specify the obliged, permitted and prohibited behaviours of agents. Regulation can effectively be achieved through use of enforcement mechanisms that result in a net loss of utility for an agent in cases where the agent's behaviour fails to comply with the norms. Recognition of compliance is thus crucial for achieving regulation. In this paper we propose a generic architecture for observation of agent behaviours, and recognition of these behaviours as constituting, or counting as, compliance or violation. The architecture deploys monitors that receive inputs from observers, and processes these inputs together with transition network representations of individual norms. In this way, monitors determine the fulfillment or violation status of norms. The paper also describes a proof of concept implementation and deployment of monitors in electronic contracting environments.

A Framework for Monitoring Agent-Based Normative Systems

The behaviours of autonomous agents may deviate from those deemed to be for the good of the societal systems of which they are a part. Norms have therefore been proposed as a means to regulate agent behaviours in open and dynamic systems, where these norms specify the obliged, permitted and prohibited behaviours of agents. Regulation can effectively be achieved through use of enforcement mechanisms that result in a net loss of utility for an agent in cases where the agent’s behaviour fails to comply with the norms. Recognition of compliance is thus crucial for achieving regulation. In this paper we propose a generic architecture for observation of agent behaviours, and recognition of these behaviours as constituting, or counting as, compliance or violation. The architecture deploys monitors that receive inputs from observers, and processes these inputs together with transition network representations of individual norms. In this way, monitors determine the fulfillment or violation status of norms. The paper also describes a proof of concept implementation and deployment of monitors in electronic contracting environments.

Transducer Loading Effect on the Performance of PZT-Based SHM Systems

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Optimal Frequency Range Selection for PZT Transducers in Impedance-Based SHM Systems

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

A comparative study of thermal conductivity in ZnO- and SnO2-based varistor systems

We performed a comparative study of electrical and thermal properties of ZnO- and SnO2-based varistor. The electrical properties of commercial ZnO-based varistor are equivalent to that found in SnO2-based varistor system. In spite of this, the SnO2 showed a thermal conductivity higher than commercial samples of ZnO-based varistor, which allied with its simpler microstructure and lower dopant concentration is a remarkable result that point out to the use of this system to compete commercially with ZnO-based varistor devices.

MnO2 influence on the electrical properties of SnO2-based ceramic systems

Tin dioxide is an n-type semiconductor that when doped with other metallic oxides exhibits non-linear electric behavior with high non-linear coefficient values typical of a varistor. In this work, electrical properties of the SnO2.CoO.Ta2O5 and SnO2.CoO.MnO2.Ta2O5 ceramics systems were studied with the objective of analyzing the influence of MnO2 on sintering behavior and electrical properties of these systems. The compacts were prepared by powder mixture process and sintered at 1300°C for 1 hour, in air, using a constant heating rate of 10°C/min. The morphological and structural properties were characterized by X-ray diffraction (XRD) and scanning electron microscopy (SEM). The densities of the sintered ceramics were measured using the Archimedes method. The SnO2.CoO.Ta2O5 and SnO2.CoO.MnO2.Ta2O5 systems presented breakdown fields (Eb) about 3100 V.cm-1 and 3800 V.cm-1, respectively, and non-linear coefficient (α) about 10 and 20, respectively.

Experimental analysis of the effect of the structure area on the PZT-based SHM systems

The structural health monitoring (SHM) systems based on electromechanical (E/M) impedance technique have been widely investigated. Although many studies indicate the reliability of this technique, some practical considerations still have to be considered in real applications. This paper presents an experimental analysis of the effect of the structure area on the system's performance. The results indicate that the sensitivity of the system to detect damage decreases significantly when the host structure has large cross-section area. Copyright © 2009 by ASME.

On the Chaotic Suppression of Both Ideal and Non-ideal Duffing Based Vibrating Systems, Using a Magnetorheological Damper

In this paper the dynamics of the ideal and non-ideal Duffing oscillator with chaotic behavior is considered. In order to suppress the chaotic behavior and to control the system, a control signal is introduced in the system dynamics. The control strategy involves the application of two control signals, a nonlinear feedforward control to maintain the controlled system in a periodic orbit, obtained by the harmonic balance method, and a state feedback control, obtained by the state dependent Riccati equation, to bring the system trajectory into the desired periodic orbit. Additionally, the control strategy includes an active magnetorheological damper to actuate on the system. The control force of the damper is a function of the electric current applied in the coil of the damper, that is based on the force given by the controller and on the velocity of the damper piston displacement. Numerical simulations demonstrate the effectiveness of the control strategy in leading the system from any initial condition to a desired orbit, and considering the mathematical model of the damper (MR), it was possible to control the force of the shock absorber (MR), by controlling the applied electric current in the coils of the damper. © 2012 Foundation for Scientific Research and Technological Innovation.