A negociação no mercado a prazo do MIBEL

This master thesis has been developed during the internship in the Supervision Department of Supervision of the Intermediation and Market Structures of CMVM. My collaboration in such department was mainly focused on the derivatives market of the Iberian Electricity Market (MIBEL). MIBEL embodies two organized markets – the derivatives market in Portugal and the spot market in Spain The trading activity in the derivatives market of MIBEL is processed through the trading platform of the regulated market managed by OMIP, however, much of the negotiation is over-the-counter. The aim of this work is to describe the market from a legal and economic perspective and to analyse the evolution of the negotiation, namely the impact of OTC in the regulated market trading. To achieve this, I propose to analyse also MiFID and EMIR rules over derivative contracts and the role of central counterparties, as they both are important to the discussion. In parallel, we found that OTC transactions are considerably higher than those traded in the regulated market managed by OMIP, those findings can be justified by the contractual relationships based on trust already established between the partiesarties. Nevertheless, since 2011 this trend changed by an increase of the registered OTC. Thereafter, although the parties continued to trade bilaterally, these transactions were registered in a central counterparty in order to eliminate the inherent risks related to the OTC derivatives transactions. This change in the negotiation pattern may also be influenced by the mandatory reporting of transactions imposed by EMIR, that requires for some classes of derivatives the centralized clearing and for all other requires the implementation of risk mitigation techniques.

Relatório de estágio curricular realizado na Comissão Nacional de Protecção de Dados

The personal data protection is presented as an indisputably complex and transversal subject and gives an account of this report, a result of curricular internship at the Portuguese Commission for Data Protection. The Commission is the competent authority for the control and supervision of personal data processing. The subject around which this report was prepared is the protection of personal data, analyzed in several aspects. The protection of personal data is, for some time, a topic that raises many concerns, because it is closely linked to fundamental rights constitutionally protected. Fundamental rights inherent in each of us are a result of Article 1 of the Constitution of the Portuguese Republic, in the sense that the dignity of the human person is affirmed as the first value around which the Portuguese legal system will have to be based. In other words, is the dignity of the human person the highest value in the Portuguese legal system. Was the development of societies to the point that we know today that has led to the importance to the personal data of citizens. In modern societies, it is possible to know everything about everyone and the curiosity of others seems not to worry about the injuries that affect the rights of citizens. Where new technologies make excuses for the excessive processing of personal data and where subjects do not seem to bother about their personal data crossing the world, it is important that jurisdictions give value the protection of personal data and the implications of its misuse, in that as these are the mirror of identity each of us and can be used against their owners, causing irreparable damage to the their fundamental rights. Being understood as protection of personal data the possibility of each citizen to decide the use of their data and how they can be used, we can say that its protection depends essentially on each of us, as holders of personal data. Therefore, the protection of our data begins in ourselves.

O serviço fiscal aduaneiro criminal e contraordenacional da GNR

At a time of global economic instability, to which Portugal is not oblivious, and aware that the main source of Portuguese State revenue relies on the collection of tribute, the National Republican Guard holds within its mission relevant assignments to the protection of the financial interests of the country, in particular, fiscal and customs. These assignments were inherited from the century - old institution Guarda Fiscal - with evidence given in this domain, which was integrated into the National Republican Guard in 1993, to adopt, a 1St model, that held a specialized unit – Brigada Fiscal, with surveillance and patrolling missions of costa and fiscal and customs supervision, throughout the national territory and maritime zone of respect. In 2009, the result of political decisions, reorganization the State's central administration, appears de 2Nd model, because the Brigada Fiscal assignments were divided by two specialized units - UAF with investigation skills, and UCC for patrolling and surveillance of the coast. Analyzed the legal spectrum of special legislation leading the criminal and transgression sector punitive (RGIT), in essence, is in the UAF that resides the role assignments from the scope of the investigation and supervision of goods in the national territory on a par with the tax authority. Tax inspection assignments, fiscal and customs of the National Republican Guard, are unmatched in the National Tribute System, constituting itself as a potentiality of this special body, in similarity of their counterparts - Spain and Italy; however, have some constraints, that urge to clarify and repair. Foreseeing the future, face the announced news of a new restructuring, on behalf of the interests of the country, and in order to raise the quality of performance of the tax inspection, fiscal and customs, the National Republican Guard shall maintain a model based on the experience already accumulated, obviously adapted to the new demands of a changing society. Despite the current model gain in efficiency, loses in effectiveness. However, the efficiency of a model, without the necessary resources, can never bring “the letter to Garcia” against any kind of infringements, criminal or transgressions. Unless better opinion, both tax structures of the National Republican Guard are valid as an instrument for the prevention and combat of these illegal types. Because they are strategic in pursuing the public interest, given the scarce resources of the country and be the National Republican Guard, the force with the means and know-how of this nature. The political power has the final word.

Relatório de estágio curricular

The purpose of the current internship report is to share the opportunity I have had to learn during my stay in CMVM as an intern, specifically in relation to the exercise of private equity supervision in Portugal, in order to contribute to the study of private equity legal framework. Private equity is the activity to finance or acquire enterprises with growth potential (normally consider as genuine industry), for a limited period of time, in order to support the enterprise’s development to benefit from future profit sales of participations. By observing and studying the registration procedures, as well as the specific legislation and reality of other jurisdictions, it is concluded that supervision specifically related to private equity is one of the most important aspects in this industry, as it is the best way to know and control it. To improve the performance of supervisory functions, and the very development of private equity, it is essential to have a legislative review in order to simplify the rules enforcement necessary for the proper running of the industry as well as for more efficient supervision and control of this activity, thus developing it and making it more attractive in a national and international basis.

Impact of an intervention to control risk associated with patient transfer.

QUESTION UNDER STUDY: Hospitals transferring patients retain responsibility until admission to the new health care facility. We define safe transfer conditions, based on appropriate risk assessment, and evaluate the impact of this strategy as implemented at our institution. METHODS: An algorithm defining transfer categories according to destination, equipment monitoring, and medication was developed and tested prospectively over 6 months. Conformity with algorithm criteria was assessed for every transfer and transfer category. After introduction of a transfer coordination centre with transfer nurses, the algorithm was implemented and the same survey was carried out over 1 year. RESULTS: Over the whole study period, the number of transfers increased by 40%, chiefly by ambulance from the emergency department to other hospitals and private clinics. Transfers to rehabilitation centres and nursing homes were reassigned to conventional vehicles. The percentage of patients requiring equipment during transfer, such as an intravenous line, decreased from 34% to 15%, while oxygen or i.v. drug requirement remained stable. The percentage of transfers considered below theoretical safety decreased from 6% to 4%, while 20% of transfers were considered safer than necessary. A substantial number of planned transfers could be "downgraded" by mutual agreement to a lower degree of supervision, and the system was stable on a short-term basis. CONCLUSION: A coordinated transfer system based on an algorithm determining transfer categories, developed on the basis of simple but valid medical and nursing criteria, reduced unnecessary ambulance transfers and treatment during transfer, and increased adequate supervision.

Propranolol in infantile haemangioma: simplifying pretreatment monitoring.

BACKGROUND: Infantile haemangiomas (IHs) are very common vascular tumours. Propranolol is at present the first-line treatment for problematic and complicated haemangioma. In accordance with a Swiss protocol, children are monitored for 2 days at the start of the treatment to detect possible side effects of this drug. Our study advocates a simplification of the pretreatment monitoring process. METHODS: All children with a problematic and complicated haemangioma treated with propranolol between September 2009 and September 2012 were included in the study. All patients were hospitalised under constant nurse supervision for 48 hours at the start of the treatment and subjected to cardiac and blood measurements. The dosage of propranolol was 1 mg/kg/day on the first day and 2 mg/kg/day from the second day. Demographic data, clinical features, treatment outcome and complications were analysed. RESULTS: Twenty-nine infants were included in our study. Of these, 86.2% responded immediately to the treatment. There were no severe adverse reactions. Six patients presented transient side effects such as bradycardia, hypotension after the first dose and hypoglycaemia later. No side effects occurred after the second dose. Treatment was never interrupted. CONCLUSION: Propranolol (a β-blocker) is a safe treatment for problematic IH. Side effects may occur after the first dose. A strict 48 hour monitoring in hospital is expensive and may be unnecessary as long as the contraindications for the drug are respected.

Cognitive coaching : a multiple case study /

The purpose of this qualitative study was to investigate the application of Cognitive Coaching as a school-based professional development program to improve instructional thought and decision making as well as to enhance staff perceptions, coUegiality and school culture. This topic emerged from personal and professional issues related to the role ofthe reflective practitioner in improving the quality of education, yet cognizant of the fact that little professional development was available to train teachers to become reflective. This case study, positioned within the interpretive sciences, focused on three teachers and how their experiences with cognitive coaching affected their teaching practices. Their knowledge, understanding and use of the four stages of instructional thought (preactive, interactive, reflective and projective) were tested before and at the end of eight coaching cycles, and again after two months to determine whether they had continued to use the reflective process. They were also assessed on whether their attitude towards peer coaching had changed, whether their feelings about teaching had become more positive and whether their professional dialogue had increased. Three methods of data collection were selected to assess growth: interviews, observations and joumaling. Analysis primarily consisted of coding and organizing data according to emerging themes. Although the professed aim of cognitive coaching was to teach the process in order that the teachers would become self-analytical and self-modifying, this study found that the value of the coaching, after trust had been established in both the coach and the process, was in the dialoguing and the time set aside to do it. Once the coaching stopped providing the time to dialogue, to examine one's meanings and beliefs, so did the critical self-reflection. As a result ofthe cognitive coaching experience though, all participants grew in their feelings of efficacy, craftsmanship, flexibility, consciousness and interdependence. The actual and potential significance ofthis study was discussed according to implications for teacher supervision, professional development, school culture, further areas of research and to my personal growth and development.

A Study of role conflict, role ambiguity, locus of control, job satisfaction and participation in decision making among front-line vocational service workers for mentally retarded adults

This study was an investigation of individual and organizational factors, as perceived by front-line vocational service workers from Adult Rehabilitation Centres (ARC Industries) for mentally retarded adults. The specific variables which were measured included role conflict/role ambiguity (role factors), internal/external locus of control (individual differences), job satisfaction with work and supervision (job attitudes) and participation in deci~ion making (organizational factor). The exploration of these constructs was conducted by means of self-report questionnaires which were completed by sixty-nine out of a total of ninety front-line employees. The surveys were distributed in booklet form to nine distinct rehabilitation facilities from St. Catharines, West Lincoln, Greater Niagara, Port Colborne, WeIland, Fort Erie, Hamilton, Guelph and Brantford. The survey data was evaluated by the statisti.cal Package for the Social Sciences (SPSS) which used the Pearson Product Moment Correlation procedure and a compar~son of means test. A comparison of correlation coefficients test was also conducted. This statistical procedure was calculated mathematically. The results obtained from the statistical evaluation confirmed the prediction that self-reported measures of participation in decision making and satisfaction (work and supervision) would be negatively correlated with role conflict and role ambiguity. As well, the speculation that perceived satisfaction (work and supervision) would be positively correlated with participation in decision making was empirically supported. Internal and external locus of control did not contribute to a significant difference in r~sponses to role perceptions (conflict and ambiguity) , satisfaction (work and supervision) or the correlational relationship between participation in decision making and satisfaction (work and supervision). Overall, the findings from this study substantiated the importance of examining employee perceptions in the workplace and the interrelationships among individual and organizational variables. This research was considered a contribution to the general area of occupational stress and to the study of individuals in work organizations.

Exploring the relationship between professional and organizational commitment : the attitudes of Ontario chartered accountancy students

This study was undertaken to investigate the attitudes of chartered accountancy (CA) students toward professional commitment and organizational commitment. The focus of the study was to discover if a relationship between these two constructs existed and determine which situational and individual characteristics facilitate or impede commitment. The sample included those CA students who wrote the 1995 UFE (n=423). Four instruments were used for data collection: Job Diagnostic Survey, Organizational Commitment Questionnaire, Career Commitment Questionnaire, Career Facilitation Survey, and individual demographic inquiry. The study found a significant relationship between professional commitment and organizational commitment. Situational characteristics tended to influence organizational commitment, while individual characteristics more often governed professional commitment. Specific satisfactions, general satisfaction, growth satisfaction, and satisfaction with compensation, co-workers, and supervision were found to facilitate organizational commitment. Organizational commitment was also influenced by supplemental job characteristics, internal work motivation, career facilitation, and autonomy. Implications for practice involved the cooperation and collaboration of the governing body for the CA profession and the CA firms in activities addressing pertinent issues that influence commitment. Implications for future research were also discussed.

The transformation of teachers: an adult learning approach

The study focused on the teacher as an adult learner rather than an instructor. A sample of three hundred and three elementary school teachers completed a two-part Likert survey questionnaire. The instrument was developed by the researcher in an attempt to operationalize Mezirow's Theory of Perspective Transformation. The four sub-scales collected information about teachers as they perceived themselves as adult learners and the way they conceptualize critical SelfReflection, Meaning perspectives and New Insights (Mezirow, 1978, 1981, 1989, 1990) within a framework of Mezirow's concept of Transformative Learning. Survey research methodology was used. Frequency distributions, means, and standard deviation were calculated. Reliability analysis and Pearson 'r' correlations established the internal consistency of items It Cross tabulations to describe differences in responses across demographic valuables were computed. The survey results indicated that teachers perceived themselves as self-directed learners. The findings support the need for a better understanding of the teacher as an adult learner so that teacher inservice programs and teacher supervision and evaluation can provide a viable learning alternative to the existing models used in practice.

Managing Risk in a Culture of Rights: Providing Support and Treatment in Community-Based Settings for Persons with Intellectual Disabilities who Sexually Offend

People with intellectual disability who sexually offend commonly live in community-based settings since the closing of all institutions across the province of Ontario. Nine (n=9) front line staff who provide support to these individuals in three different settings (treatment setting, transitional setting, residential setting) were interviewed. Participants responded to 47 questions to explore how sex offenders with intellectual disability can be supported in the community to prevent re-offenses. Questions encompassed variables that included staff attitudes, various factors impacting support, structural components of the setting, quality of life and the good life, staff training, staff perspectives on treatment, and understanding of risk management. Three overlapping models that have been supported in the literature were used collectively for the basis of this research: The Good Lives Model (Ward & Gannon, 2006; Ward et al., 2007), the quality of life model (Felce & Perry, 1995), and variables associated with risk management. Results of this research showed how this population is being supported in the community with an emphasis on the following elements: positive and objective staff attitude, teamwork, clear rules and protocols, ongoing supervision, consistency, highly trained staff, and environments that promote quality of life. New concepts arose which suggested that all settings display an unequal balance of upholding human rights and managing risks when supporting this high-risk population. This highlights the need for comprehensive assessments in order to match the offender to the proper setting and supports, using an integration of a Risk, Need, Responsivity model and the Good Lives model for offender rehabilitation and to reduce the likelihood of re-offenses.

Canadian Society for Exercise Physiology Position Paper: Resistance Training in Children and Adolescents

Many position stands and review papers have refuted the myths associated with resistance training (RT) in children and adolescents. With proper training methods, RT for children and adolescents can be relatively safe and improve overall health. The objective of this position paper and review is to highlight research and provide recommendations in aspects of RT that have not been extensively reported in the pediatric literature. In addition to the well-documented increases in muscular strength and endurance, RT has been used to improve function in pediatric patients with cystic fibrosis, cerebral palsy and burn victims. Increases in children’s muscular strength have been attributed primarily to neurological adaptations due to the disproportionately higher increase in muscle strength than in muscle size. Although most studies using anthropometric measures have not shown significant muscle hypertrophy in children, more sensitive measures such as magnetic resonance imaging and ultrasound have suggested hypertrophy may occur. There is no minimum age for RT for children. However the training and instruction must be appropriate for children and adolescents involving a proper warm-up, cool-down and an appropriate choice of exercises. It is recommended that low-to-moderate intensity resistance should be utilized 2-3 times per week on non-consecutive days, with 1-2 sets initially, progressing to 4 sets of 8-15 repetitions for 8-12 exercises. These exercises can include more advanced movements such as Olympic style lifting, plyometrics and balance training, which can enhance strength, power, co-ordination and balance. However specific guidelines for these more advanced techniques need to be established for youth. In conclusion, a RT program that is within a child’s or adolescent’s capacity, involves gradual progression under qualified instruction and supervision with appropriately sized equipment can involve more advanced or intense RT exercises which can lead to functional (i.e. muscular strength, endurance, power, balance and co-ordination) and health benefits.

The Law and Economics of the Civil Law of Mandate

Présentation à la Annual Law & Economics Conference 2007, Université de Bologne.

Analyse des facteurs institutionnels associés à la mortalité maternelle : Une étude nationale dans les maternités chirurgicales au Sénégal

Résumé Objectif : Identifier les facteurs institutionnels qui influencent la mortalité maternelle (MM) hospitalière dans les maternités chirurgicales au Sénégal. Méthode : cette étude est une analyse secondaire des données de la troisième Enquête Nationale sur la Couverture Obstétrico-chirurgicale au Sénégal en 2001. Les données analysées, issues des fiches d'activité des maternités, comptaient pour 38,239 admissions en obstétrique dans 19 hôpitaux et 450 décès maternels. Les taux de mortalité maternelle hospitalière (TMMH) brut et ajusté ont été utilisés comme variables dépendantes. Le TMMH ajusté sur les caractéristiques de la clientèle ('cases-mix') a été estimé pour chaque établissement de santé par la méthode de standardisation directe. Les indicateurs de la qualité des structures, de la gestion des ressources, et un score de qualité ont été utilisés comme variables indépendantes pour prédire la MM hospitalière. Les tests de Mann-Whitney et de Kruskal-Wallis ont été utilisés pour analyser l’association entre les variables indépendantes, le score de qualité et la MM. Une analyse multivariée a été utilisée pour estimer l’impact du score de qualité sur la MM, en tenant compte de la situation géographique (Dakar versus autre région).Résultats: En analyse bivariée, la présence d'anesthésiste, la disponibilité de boîtes de césarienne complète et la supervision de tous les accouchements par du personnel qualifié sont les facteurs institutionnels associés significativement à une réduction du TMMH brut. Quant au TMMH ajusté ce sont la présence de scialytique, la disponibilité du sulfate de magnésium, l'utilisation des guides de pratiques cliniques (GPC) pour la prise en charge des complications obstétricales. Le score de qualité est associé significativement au TMMH brut, y compris en analyse multivariée, mais pas au TMMH ajusté. Conclusion : La disponibilité du Sulfate de magnésium, et du scialytique pourrait contribuer à la réduction de la MM. En complément, une réorganisation adéquate des ressources pour réduire la disparité géographique rurale/urbaine est essentielle ainsi qu’une sensibilisation du personnel à l’usage des GPC. De plus, l’assistance par un personnel qualifié de tous les accouchements est nécessaire pour améliorer la qualité des soins et la prise en charge des complications obstétricales.

Modélisation systémique de la transition pour des familles ayant un adolescent atteint de fibrose kystique en phase pré-transfert vers l'établissement adulte

Les progrès spectaculaires réalisés dans le traitement de la fibrose kystique font en sorte qu'un nombre de plus en plus élevé de familles comptant un adolescent atteint de ce problème de santé, peut maintenant envisager d'effectuer la transition depuis l'adolescent vers l'âge adulte. À ce jour, les recherches à ce sujet demeurent peu nombreuses, principalement en ce qui a trait à la nature des interations entre les adolescents, leurs parents et les professionnels de la santé qui préparent ces familles en vue du transfert, depuis un établissement pédiatrique vers un établissement adulte. L'appréhension de ce phénomène s'est réalisée dans une perspective constructiviste et systémique, ce qui a permis de mettre en relief certaines des multiples facettes du phénomène et de jeter un éclairage novateur sur des dynamiques entre les membres de la famille et entre ces derniers et les professionnels de la santé. Le but de cette étude de cas, de type qualitavive, était de modéliser de manière systémique, le processus de transtion pour des familles ayant un adolescent atteint de la fibrose kystique qui est en phase pré transfert, depuis l'établissement pédiatrique vers le milieu adulte. Des entretiens semi-dirigés ont été réalisés avec sept familles comptant un adolescent atteint de la fibrose kystique. De plus, un entretien de groupe a également été effectué avec une équipe interprofessionnelle oeuvrant dans une clinique qui traite des adolescents atteints de la fibrose kysitque. L'analyse qualitative des données a mené au développement d'un modèle systémique de la transition pour ces familles. Ce modèle souligne qu'en évoluant de façon parallèle, les familles et les professionnels de la santé poursuivent la même finalité de favoriser le développement de l'autonomie de l'adolescent. Ce processus de transition chez ces familles s'inscrit, par ailleurs, dans un espace-temps signifié par le transfert inter-établissements, avec peu de considération pour la souffrance parentale liée au pronostic de la maladie. Ainsi, le développement de l'autonomie est marqué par la confiance qui doit s'établir entre l'adolescent et son parent, en passant par la surveillance du parent envers l'adolescent et par la responsabilisation graduelle chez ce dernier. Cette étude propose donc une modélisation systémique de ce processus de transition qui contribue non seulement au développement du concept de la transition en sciences de la santé, mais aussi de la pratique clinique et de la recherche dans le domaine des soins à la famille aux prises avec un adolescent atteint de la fibrose kystique.