Quantum surveillance and 'shared secrets'. A biometric step too far? CEPS Liberty and Security in Europe, July 2010

It is no longer sensible to regard biometrics as having neutral socio-economic, legal and political impacts. Newer generation biometrics are fluid and include behavioural and emotional data that can be combined with other data. Therefore, a range of issues needs to be reviewed in light of the increasing privatisation of ‘security’ that escapes effective, democratic parliamentary and regulatory control and oversight at national, international and EU levels, argues Juliet Lodge, Professor and co-Director of the Jean Monnet European Centre of Excellence at the University of Leeds, U

Prevention of occupational diseases in Turkey : deriving lessons from journey of surveillance

Introduction: To prevent and manage the societal and economic burden of occupational diseases (ODs), countries should develop strong prevention policies, health surveillance and registry systems. This study aims to contribute to the improvement of OD surveillance at national level as well as to identify priority actions in Turkey. Methods: The history and current status of occupational health studies were considered from the perspective of OD surveillance. Interpretative research was done through literature review on occupational health at national, regional and international level. Analyses were focused on countries' experiences in policy development and practice, roles and responsibilities of institutions, multidisciplinary and intersectoral collaboration. OD surveillance models of Turkey, Belgium and the Netherlands were examined through exchange visits. Face-to-face interviews were conducted to explore the peculiarities of legislative and institutional structures, the best and worst practices, and approach principles. Results: Some countries are more focused on exploring OD trends through effective and cost-efficient researches, with particular attention to new and emerging ODs. Other countries try to reach every single case of OD for compensation and rehabilitation. Each practice has advantages and shortcomings, but they are not mutually exclusive, and thus an effective combination is possible. Conclusion: Effective surveillance and registry approaches play a key role in the prevention of ODs. A well-designed system enables monitoring and assessment of OD prevalence and trends, and adoption of preventive measures while improving the effectiveness of redressing and compensation. A robust surveillance does not only provide protection of workers' health but also advances prevention of economic losses

Reviewing Regulatory Objectives: Should the Scope of Financial Regulation be Extended?

This paper will consider whether the scope of financial regulation should be extended and if so, ways in which this could occur. In order to carry out these tasks, it will not only address problems identified from the recent crises and Basel 2, gaps which exist in some of the responses to these issues, but will also consider what roles other parties such as central banks and external auditors can play in achieving financial objectives. To a certain extent, it will address these issues by making references to proposals which have been put forward from different sources. It will introduce the points of discussion through an overview of global developments which have necessitated the need for a review of financial regulation and through a review of the present regulatory objectives

Influence of adjacent insured risks upon the management of insurance companies

Besides technical and investment risks, other risks can be identified, with own traits and implications that cannot be ignored. We speak about the risk of participation, the risk regarding guarantees in favor of tertiary, risk regarding loss because of tertiary, general business risk and managerial risk.investment risks, risk of participation, business risk, managerial risk

Why the Transfer of Bank Supervisory Powers Back to The Bank of England is A Step in the Right Direction: Revisiting the Role of External Auditors in Bank and Financial Services Supervision

The need for effective supervision of capital markets is becoming all the more evident in the aftermath of the recent LIBOR and rate rigging scandals. Financial regulators or indeed bank regulators cannot perform such a function effectively without the involvement of auditors in the supervisory process. A challenging task awaits the incoming Bank of England Governor, Mark Carney – particularly given the reduced involvement of auditors in the bank supervisory process since the time of assumption of the Financial Services Authority's bank supervisory functions. However, he (as well as other recent financial reforms) may prove to be the much needed boost required in the bank and indeed, financial supervisory process. This paper is aimed at highlighting why the transfer of bank supervision back to the Bank of England is required if further progress is to be made in the effective regulation and supervision of the financial services sector. It also highlights shortcomings which exist and need to be addressed if the Bank of England is to perform its tasks efficiently as well as regain the momentum and advantages it had acquired before its supervisory powers were transferred to the Financial Services Authorit

Dialectic tensions in the financial markets: a longitudinal study of pre- and post-crisis regulatory technology

This article presents the findings from a longitudinal research study on regulatory technology in the UK financial services industry. The financial crisis with serious corporate and mutual fund scandals raised the profile of compliance as governmental bodies, institutional and private investors introduced a ‘tsunami’ of financial regulations. Adopting a multi-level analysis, this study examines how regulatory technology was used by financial firms to meet their compliance obligations, pre- and post-crisis. Empirical data collected over 12 years examine the deployment of an investment management system in eight financial firms. Interviews with public regulatory bodies, financial institutions and technology providers reveal a culture of compliance with increased transparency, surveillance and accountability. Findings show that dialectic tensions arise as the pursuit of transparency, surveillance and accountability in compliance mandates is simultaneously rationalized, facilitated and obscured by regulatory technology. Responding to these challenges, regulatory bodies continue to impose revised compliance mandates on financial firms to force them to adapt their financial technologies in an ever-changing multi-jurisdictional regulatory landscape

An evaluation of IMF surveillance of the euro area

The euro-area crisis has exposed deep deficiencies in the governance of European Economic and Monetary Union. However, crisis prevention in, and surveillance of, the euro area are not only the responsibility of European authorities. As members of the International Monetary Fund, all euro-areacountries are also subject to regular bilateral IMF surveillance. The currency union as a whole is also subject to regular IMF surveillance.This report analyses the IMFâ??s surveillance of the euro area. We find that it suffered from severe shortcomings in the run-up to the financial crisis, but after the start of the crisis in 2008, IMF surveillance of the euro area greatly improved, with the IMF correctly proposing measures to counter depression risks and warning about banking sector problems. By the time the sovereign-debt crisis hit the currency union in early 2010, the IMF was ready to play aninfluential role. The slow European response meant this was indispensable.

Security risk assessment and protection in the chemical and process industry

This article describes a security risk assessment and protection methodology that was developed for use in the chemical- and process industry in Belgium. The approach of the method follows a risk-based approach that follows desing principles for chemical safety. That approach is beneficial for workers in the chemical industry because they recognize the steps in this model from familiar safety models .The model combines the rings-of-protection approach with generic security practices including: management and procedures, security technology (e.g. CCTV, fences, and access control), and human interactions (pro-active as well as re-active). The method is illustrated in a case-study where a practical protection plan was developed for an existing chemical company. This chapter demonstrates that the method is useful for similar chemical- and process industrial activities far beyond the Belgian borders, as well as for cross-industrial security protection. This chapter offers an insight into how the chemical sector protects itself on the one hand, and an insight into how security risk management can be practiced on the other hand

Complementarity and coordination of macroeconomic and financial policies to tackle internal and external imbalances.

Policy responses to the global crisis have helped stabilise the economies and contained the threat of financial instability. But growing sovereign indebtedness, a weakened financial system and uneven economic growth prospects at the global level pose risks of new imbalances and vulnerabilities. To limit those risks it is essential to address both macroeconomic and fi nancial market failures. Important changes in financial market regulation and banking supervision are already being introduced. In the macroeconomic area, an effort is being made to strengthen the coordination of economic policies in the context of the G20. New institutions, such as macroprudential authorities, are being set up in many countries to monitor and contrast the emergence of systemic risk. There are, however, several areas where policy frameworks need to be further strengthened. At the international level we need surplus and deficit countries to rebalance global demand and ensure a return to sustained global growth, without conflicting policy actions leading to potential instability. Effective acroprudential policies require a clear definition of responsibilities, and need to be consistent with the conduct of monetary policies. In Europe, more effective economic governance is needed to proceed on the route towards greater economic integration and to fortify the euro, including tighter rules on fiscal policies, a broader surveillance over macroeconomic imbalances and an effective mechanism for crisis management.

Integrated Border Management at the EU Level. CEPS Working Documents No. 227, 1 August 2005

In times marked by trends as diverse as economic globalisation, international migration as well as fear of terrorism and organised crime, the efficient handling of borders has become an issue of political priority, in the EU and across the world. Modern, economy-oriented states have to rely on a flourishing trade and offer a comfortable degree of security to their citizens. The formula commonly chosen in combining these two objectives is that of ‘integrated border management’, which represents the delicate attempt to marry security concerns with trade facilitation. If the implementation of this innovative approach is already proving to be a challenge to well-established nation states, it becomes a genuine balancing act for an incomplete federation such as the EU, with its sensitive mix of a single external border and 25 separate legal/administrative systems. This working paper seeks to illustrate the difficulties encountered by the EU and develop solutions that should firmly go into the direction of a coherent, communitarian approach in border management, such as that sketched out by the recent Council Regulation No. 2007/2004 establishing the European Border Agency known as FRONTEX