A Life Cycle Approach to Investor Protection. ECMI Working Paper No. 1/September 2014

The market for investment products, including both securities and investment funds, is fraught with difficulties for consumers in terms of the ease of comparing products, trust in suppliers and consumer satisfaction. A comprehensive approach to investor protection, developed around the lifecycle of a financial product, may offer the investor greater protection during an investment’s life span. This paper proposes a new approach to investor protection, building on a review of major market failures affecting the origination, distribution and sale of financial products and based on a review of the relevant scientific literature and country experiences. The application of a ‘know-your-product’ principle at origination, a narrower ‘default rule’ for best execution and an ex-ante distinction between advice and ‘information-only’ services are among the options discussed in this paper to enhance the investor protection framework over the lifecycle of a financial product.

Spatial distribution of key zooplankton species using continuous plankton recorder (CPR) data from the North Atlantic (2000-2009)

The continuous plankton recorder (CPR) survey is an upper layer plankton monitoring program that has regularly collected samples, at monthly intervals, in the North Atlantic and adjacent seas since 1946. Water from approximately 6 m depth enters the CPR through a small aperture at the front of the sampler and travels down a tunnel where it passes through a silk filtering mesh of 270 µm before exiting at the back of the CPR. The plankton filtered on the silk is analyzed in sections corresponding to 10 nautical miles (approx. 3 m**3 of seawater filtered) and the plankton microscopically identified (Richardson et al., 2006 and reference therein). In the present study we used the CPR data to investigate the current basin scale distribution of C. finmarchicus (C5-C6), C. helgolandicus (C5-C6), C. hyperboreus (C5-C6), Pseudocalanus spp. (C6), Oithona spp. (C1-C6), total Euphausiida, total Thecosomata and the presence/absence of Cnidaria and the Phytoplankton Colour Index (PCI). The PCI, which is a visual assessment of the greenness of the silk, is used as an indicator of the distribution of total phytoplankton biomass across the Atlantic basin (Batten et al., 2003). Monthly data collected between 2000 and 2009 were gridded using the inverse-distance interpolation method, in which the interpolated values were the nodes of a 2 degree by 2 degree grid. The resulting twelve monthly matrices were then averaged within the year and in the case of the zooplankton the data were log-transformed (i.e. log10 (x+1).

Vertical distribution of benthic foraminifers in the Arctic Ocean

The vertical distribution of living (Rose Bengal stained) benthic foraminifers was determined in the upper 15 cm of sediment cores taken along transects extending from the continental shelf of Spitsbergen through the Eurasian Basin of the Arctic Ocean. Cores taken by a multiple corer were raised from 50 stations with water depths between 94 and 4427 m, from areas with moderate primary production values to areas that are among the least productive ones in the world. We believe, that in the Arctic Ocean the vertical distribution of living foraminifers is determined by the restricted availability of food. Live foraminiferal faunas are dominated by potentially infaunal species or epifaunal species. Species confined to the infaunal microhabitat are absent in Arctic sediments that we examined, and predominantly infaunal living species are nowhere dominant. In general, an infaunal mode of life is restricted to the seasonally ice-free areas and thus to areas with at least moderate primary production during the summer period. Under the permanent ice cover living species are usually restricted to the top centimeter of the sediment surface, even though some are able to dwell deeper in the sediment under ice-free conditions.

Beyond Fashion Tips and Hijab Tutorials: The Aesthetic Style of Islamic Lifestyle Videos

Among young women, lifestyle videos have become extremely popular on YouTube, and a similar trend has emerged among young Muslim women who share modest fashion tips and discuss religious topics. This paper examines the videos of two prominent Muslim women on YouTube, Amena Khan and Dina Torkia, in an effort to understand how they engage with aesthetic styles in order to work against Western stereotypes of Muslim women as oppressed and lacking individuality. Islamic lifestyle videos might appear to simply promote a vacuous focus on appearances, but I argue that it is through the aesthetics and affects of these videos that Amena and Dina do political work to redistribute the sensible and shift what is considered attractive, beautiful and pleasurable in Western society. Additionally, the hybrid aesthetic styles and affects of authenticity and pleasure, which are possible in digital spaces like YouTube, offer Amena and Dina the chance to control their own visual images and to resist being coopted as icons of Western freedom or Islamic piety.

The Heart of the empire : discussions of problems of modern city life in England /

Masterman, C. F. G. Realities at home.--Lawrence, F. W. The housing problem.--Bray, R. A. The children of the town.--Buxton, N. and Hoare, W. Temperance reform.--Wilson, P. W. The distribution of industry.--Pigou, A. C. Some aspects of the problem of charity.--Head, F. W. The church and the people.--Gooch, G. P. Imperialism.--Trevelyan, G. M. The past and the future.

The controversy over the distribution of abolition literature,

Mode of access: Internet.

The life of Philidor, musician and chess-player.

"Fifty copies. A separate impression from the Chess monthly, for private distribution."

Preventing adolescent depression: An evaluation of the problem solving for life program

This study evaluated the effectiveness of the Problem Solving For Life program as it universal approach to the prevention of adolescent depression. Short-term results indicated that participants with initially elevated depressions scores (high risk) who received the intervention showed a significantly greater decrease in depressive symptoms and increase in life problem-solving scores from pre- to postintervention compared with a high-risk control group. Low-risk participants who received the intervention reported a small but significant decrease in depression scores over the intervention period, whereas the low-risk controls reported an increase in depression scores. The low-risk group reported a significantly greater increase in problem-solving scores over the intervention period compared with low-risk controls. These results were not maintained, however, at 12-month follow-up.

Illusions in advanced cancer: The effect of belief systems and attitudes on quality of life

Patients with advanced cancer frequently express positive attitudes and can be unduly optimistic about the potential benefits of treatment. In order to evaluate an illusory domain in the context of advanced cancer, we developed a scale of will to live and characterized the beliefs that patients held about the curability of their cancer, and how committed they were to using alternative treatments. A measure of quality of life was used as the dependent variable in order to assess the association between these attributes. After a preliminary exploration confirmed the presence of an illusory domain, these concepts were prospectively tested in 149 ambulant patients with advanced cancer who attended for palliative systemic treatment, radiation treatment or supportive care. The scale of global quality of life was reliable (Cronbach's alpha coefficient 0.72). The distribution of the scores of will to live was skewed, with no respondent scoring poorly, and the scale was reliable (Cronbach's alpha coefficient 0.82). The scale of belief in curability showed diverse beliefs. In some cases, there was a discrepancy between respondents' beliefs in curability and what they believed to be the report by their doctors. There was also an association between a committed use of alternative treatments and a belief in the curability of the cancer (p

Histopathology and fibrillin-1 distribution in severe early onset Marfan syndrome

Marfan syndrome (MFS) is an autosomal dominant condition which may involve the cardiovascular, ocular, skeletal, and other systems. Mutations causing MFS are found in the FBN1 gene, encoding fibrillin-1, an extracellular matrix protein involved in microfibril formation. In the most severe cases, mutations are generally found in exons 24-32, and children with these mutations usually die in the first years of life, of cardiopulmonary failure. We present clinical, molecular and histopathological studies on a patient with severe early onset MFS. He has a mutation in exon 25 of FBN1, a G > A transition at nucleotide position 3131 that converts the codon TGC, coding for cysteine at position 1044, to TAC, coding for tyrosine (C1044Y). This has resulted in abnormalities of the extracellular matrix and a severe clinical phenotype, although he has survived to the age of 14 years. (c) 2005 Wiley-Liss, Inc.

Rank test of location optimal for hyperbolic secant distribution

There are at least two reasons for a symmetric, unimodal, diffuse tailed hyperbolic secant distribution to be interesting in real-life applications. It displays one of the common types of non normality in natural data and is closely related to the logistic and Cauchy distributions that often arise in practice. To test the difference in location between two hyperbolic secant distributions, we develop a simple linear rank test with trigonometric scores. We investigate the small-sample and asymptotic properties of the test statistic and provide tables of the exact null distribution for small sample sizes. We compare the test to the Wilcoxon two-sample test and show that, although the asymptotic powers of the tests are comparable, the present test has certain practical advantages over the Wilcoxon test.

Dissipation of acetochlor and its distribution in surface and sub-surface soil fractions during laboratory incubations

Pesticides in soil are subject to a number of processes that result in transformation and biodegradation, sorption to and desorption from soil components, and diffusion and leaching. Pesticides leaching through a soil profile will be exposed to changing environmental conditions as different horizons with distinct physical, chemical and biological properties are encountered. The many ways in which soil properties influence pesticide retention and degradation need to be addressed to allow accurate predictions of environmental fate and the potential for groundwater pollution. Degradation and sorption processes were investigated in a long-term (100 days) study of the chloroacetanilide herbicide, acetochlor. Soil cores were collected from a clay soil profile and samples taken from 0-30cm (surface), 1.0-1.3m (mid) and 2.7-3.0m (deep) and treated with acetochlor (2.5, 1.25, 0.67 mu g acetochlor g(-1) dry wt soil, respectively). In sterile and non-sterile conditions, acetochlor concentration in the aqueous phase declined rapidly from the surface and subsoil layers, predominantly through nonextractable residue (NER) formation on soil surfaces, but also through biodegradation and biotic transformation. Abiotic transformation was also evident in the sterile soils. Several metabolites were produced, including acetochlor-ethane sulphonic acid and acetochlor-oxanilic acid. Transformation was principally microbial in origin, as shown by the differences between non-sterile and sterile soils. NER formation increased rapidly over the first 21 days in all soils and was mainly associated with the macroaggregate (> 2000 mu m diameter) size fractions. It is likely that acetochlor is incorporated into the macroaggregates through oxidative coupling, as humification of particulate organic matter progresses. The dissipation (ie total loss of acetochlor) half-life values were 9.3 (surface), 12.3 (mid) and 12.6 days (deep) in the non-sterile soils, compared with 20.9 [surface], 23.5 [mid], and 24 days [deep] in the sterile soils, demonstrating the importance of microbially driven processes in the rapid dissipation of acetochlor in soil.

Distribution of 19 major virulence genes in Legionella pneumophila serogroup 1 isolates from patients and water in Queensland, Australia

The distribution of 19 major virulence genes and the presence of plasmids were surveyed in 141 Legionella pneumophila serogroup (SG) 1 isolates from patients and water in Queensland, Australia. The results showed that 16 of the virulence genes examined were present in all isolates, suggesting that they are life-essential genes for isolates in the environment and host cells. The 65 kb pathogenicity island identified originally in strain Philadelphia-1(T) was detected more frequently in isolates from water (44.2 %) than in those from patients (2.7 %), indicating that the 65 kb DNA fragment may aid the survival of L. pneumophila in the sampled environment. However, the low frequency of the 65 kb fragment in isolates from patients suggests that the pathogenicity island may not be necessary for L. pneumophila to cause disease. Plasmids were not detected in the L. pneumophila SG1 isolates from patients or water studied. There was an association of both lvh and rtxA with the virulent and predominant genotype detected by amplified fragment length polymorphism, termed AF1, whereas the avirulent common isolate from water termed AF16 did not have lvh or rtxA genes, with the exception of one isolate with rtxA. It was found that a PCR detection test strategy with lvh and rtxA as pathogenesis markers would be useful for determining the infection potential of an isolate.

Is the distribution of Fiji leaf gall in Australian sugarcane explained by variation in the vector Perkinsiella saccharicida?

Fiji leaf gall (FLG) is an important virally induced disease in Australian sugarcane. It is confined to southern canegrowing areas, despite its vector, the delphacid planthopper Perkinsiella saccharicida, occurring in all canegrowing areas of Queensland and New South Wales. This disparity between distributions could be a result of successful containment of the disease through quarantine and/or geographical barriers, or because northern Queensland populations of Perkinsiella may be poorer vectors of the disease. These hypotheses were first tested by investigating variation in the ITS2 region of the rDNA fragment among eastern Australian and overseas populations of Perkinsiella. The ITS2 sequences of the Western Australian P. thompsoni and the Fijian P. vitiensis were distinguishable from those of P. saccharicida and there was no significant variation among the 26P. saccharicida populations. Reciprocal crosses of a northern Queensland and a southern Queensland population of P. saccharicida were fertile, so they may well be conspecific. Single vector transmission experiments showed that a population of P. saccharicida from northern Queensland had a higher vector competency than either of two southern Queensland populations. The frequency of virus acquisition in the vector populations was demonstrated to be important in the vector competency of the planthopper. The proportion of infected vectors that transmitted the virus to plants was not significantly different among the populations tested. This study shows that the absence of FLG from northern Queensland is not due to a lack of vector competency of the northern population of P. saccharicida.