Capital markets and e-fraud: policy note and concept paper for future study

The technological dependency of securities exchanges on internet-based (IP) platforms has dramatically increased the industry's exposure to reputation, market, and operational risks. In addition, the convergence of several innovations in the market are adding stress to these systems. These innovations affect everything from software to system design and architecture. These include the use of XML (extensible markup language) as the industry IP language, STP or straight through processing of data, pervasive or diffuse computing and grid computing, as well as the increased use of Internet and wireless. The fraud is not new, rather, the magnitude and speed by which fraud can be committed has grown exponentially due to the convergence of once private networks on-line. It is imperative that senior management of securities markets and brokerage houses be properly informed of the negative externalities associated with e-brokerage and the possible critical points of failure that exist in today's digitized financial sector as they grow into tomorrow's exchanges. The overwhelming issue regarding e-finance is to determine the true level of understanding that senior management has about on-line platforms, including the inherent risks and the depth of the need to use it wisely. Kellermann and McNevin attempt to highlight the various risks that have been magnified by the increasing digitalization of processes within the brokerage arena and explain the need for concerted research and analysis of these as well as the profound consequences that may entail without proper planning. An effective legal, regulatory, and enforcement framework is essential for creating the right incentive structure for market participants. The legal and regulatory framework should focus on the improvement of internal monitoring of risks and vulnerabilities, greater information sharing about these risks and vulnerabilities, education and training on the care and use of these technologies, and better reporting of risks and responses. Public/private partnerships and collaborations also are needed to create an electronic commerce (e-commerce) environment that is safe and sound.Environmental Economics&Policies,Insurance&Risk Mitigation,Financial Intermediation,ICT Policy and Strategies,Banks&Banking Reform

Electronic security - risk mitigation in financial transactions : public policy issues

This paper builds on a previous series of papers (see Claessens, Glaessner, and Klingebiel, 2001, 2002) that identified electronic security as a key component to the delivery of electronic finance benefits. This paper and its technical annexes (available separately at http://www1.worldbank.org/finance/) identify and discuss seven key pillars necessary to fostering a secure electronic environment. Hence, it is intended for those formulating broad policies in the area of electronic security and those working with financial services providers (for example, executives and management). The detailed annexes of this paper are especially relevant for chief information and security officers responsible for establishing layered security. First, this paper provides definitions of electronic finance and electronic security and explains why these issues deserve attention. Next, it presents a picture of the burgeoning global electronic security industry. Then it develops a risk-management framework for understanding the risks and tradeoffs inherent in the electronic security infrastructure. It also provides examples of tradeoffs that may arise with respect to technological innovation, privacy, quality of service, and security in designing an electronic security policy framework. Finally, it outlines issues in seven interrelated areas that often need attention in building an adequate electronic security infrastructure. These are: 1) The legal framework and enforcement. 2) Electronic security of payment systems. 3) Supervision and prevention challenges. 4) The role of private insurance as an essential monitoring mechanism. 5) Certification, standards, and the role of the public and private sectors. 6) Improving the accuracy of information on electronic security incidents and creating better arrangements for sharing this information. 7) Improving overall education on these issues as a key to enhancing prevention.Knowledge Economy,Labor Policies,International Terrorism&Counterterrorism,Payment Systems&Infrastructure,Banks&Banking Reform,Education for the Knowledge Economy,Knowledge Economy,Banks&Banking Reform,International Terrorism&Counterterrorism,Governance Indicators

Alien Registration- Mcnevin, Mabel S. (Lubec, Washington County)

https://digitalmaine.com/alien_docs/2086/thumbnail.jp

The Effectiveness of Biomusic as a Communication Tool for Individuals with Communication Barriers

Background: Many family members and care providers are unable to communicate with their loved ones and may feel distanced from them due to severe disabilities or injuries that create a communication barrier. Current methods of communication are either obscure and subjective interpretations of body gestures, or technologies that require a certain level of cognition, bodily movement, and functionality to operate. Biomusic is a novel technology that could allow for communication as well as identification of certain emotional states for those that have communication barriers. Methods: An exhaustive literature search was conducted using MEDLINE-Ovid, Evidence-Based Medicine Multifile, Proquest, MEDLINE-PubMed, NCBI, Google Scholar, Health and Wellness Resource Center, CINAHL, Web of Science, and Cochrane using the following search terms: biomusic, children, anxiety, autism, communication disorders, communication barriers, developmental disorders, disabled persons, personhood, affective technology design, NOT music therapy. GRADE criteria were then employed to analyze the quality of the studies. Results: There were 195 articles that were found. Only 2 studies met the eligibility criteria. The first study reviewed was a pilot study that functioned as proof of concept for biomusic and revealed potential for biomusic to create meaningful communication and re-establish personhood. The second study demonstrated that biomusic could be used to determine anxious or relaxed states in typically developing children and children with autism spectrum disorder quickly (within 11.3 seconds), and with high accuracy. Conclusion: The field of biomusic is still in its infancy and more research needs to be performed to determine the abilities and limits of biomusic. The abilities of biomusic to determine emotional states is promising and the studies showed that it can be used reliably. Furthermore, biomusic can be used to re-establish more meaningful interactions between individuals with communication barriers and their care providers

How do heteronormative perspectives affect same-sex parents?

This study focused on same-sex couples that are co-parenting children in the United States and the differences in parenting that were elicited when faced with heteronormative perspectives in society. Understanding how these families disclose the nature of their same-sex family provides the social worker with insights on how to work more effectively with these families and create more inclusive space for these families throughout the community

An Application of Wavelets to Finance: The Three-Factor Fama/French Model

We use multi-scale analysis and a rolling 250-day window to estimate a widely used standard for empirical asset pricing. The asset pricing model employed is the Fama-French three-factor model. The model is estimated using stock returns for 49 industry stocks of US industry portfolios for the period from July 1969 to September 2017. The rolling window estimation approach allows us to capture the behavior of an investor who periodically reallocates his portfolio. Employing periodic estimates of expected return, we implement a set of long/short investment strategies based on the standard Fama-French three-factor model, and scale versions of the model. We find that during recessions, the higher scale long/short strategies tend to outperform the standard approach. Our results suggest distinct risk dynamics at specific horizons during recessions. We conclude that the information content of the economic phenomena that generate the three-factor model does not follow strict periodicity during recessions, making the wavelet approach more suitable for portfolio managers who must be prepared to rebalance portfolios during official downturns

Forensic Autosomal Short Tandem Repeats and Their Potential Association With Phenotype

Forensic DNA profiling utilizes autosomal short tandem repeat (STR) markers to establish identity of missing persons, confirm familial relations, and link persons of interest to crime scenes. It is a widely accepted notion that genetic markers used in forensic applications are not predictive of phenotype. At present, there has been no demonstration of forensic STR variants directly causing or predicting disease. Such a demonstration would have many legal and ethical implications. For example, is there a duty to inform a DNA donor if a medical condition is discovered during routine analysis of their sample? In this review, we evaluate the possibility that forensic STRs could provide information beyond mere identity. An extensive search of the literature returned 107 articles associating a forensic STR with a trait. A total of 57 of these studies met our inclusion criteria: a reported link between a STR-inclusive gene and a phenotype and a statistical analysis reporting a p-value less than 0.05. A total of 50 unique traits were associated with the 24 markers included in the 57 studies. TH01 had the greatest number of associations with 27 traits reportedly linked to 40 different genotypes. Five of the articles associated TH01 with schizophrenia. None of the associations found were independently causative or predictive of disease. Regardless, the likelihood of identifying significant associations is increasing as the function of non-coding STRs in gene expression is steadily revealed. It is recommended that regular reviews take place in order to remain aware of future studies that identify a functional role for any forensic STRs

Determining RuBisCO activation kinetics and other rate and equilibrium constants by simultaneous multiple non-linear regression of a kinetic model

The forward and reverse rate constants involved in carbamylation, activation, carboxylation, and inhibition of D-ribulose-1,5-bisphosphate carboxylase/oxygenase (RuBisCO) have been estimated by a new technique of simultaneous non-linear regression of a differential equation kinetic model to multiple experimental data. Parameters predicted by the model fitted to data from purified spinach enzyme in vitro included binding affinity constants for non-substrate CO2 and Mg2+ of 200±80 μM and 700±200 μM, respectively, as well as a turnover number (kcat) of 3.3±0.5 s-1, a Michaelis half-saturation constant for carboxylation (KM,C) of 10±4 μM and a Michaelis constant for RuBP binding (KM,RuBP) of 1.5±0.5 μM. These and other constants agree well with previously measured values where they exist. The model is then used to show that slow inactivation of RuBisCO (fallover) in oxygen-free conditions at low concentrations of CO2 and Mg2+ is due to decarbamylation and binding of RuBP to uncarbamylated enzyme. In spite of RuBP binding more tightly to uncarbamylated enzyme than to the activated form, RuBisCO is activated at high concentrations of CO2 and Mg2+. This apparent paradox is resolved by considering activation kinetics and the fact that while RuBP binds tightly but slowly to uncarbamylated enzyme, it binds fast and loosely to activated enzyme. This modelling technique is presented as a new method for determining multiple kinetic data simultaneously from a limited experimental data set. The method can be used to compare the properties of RuBisCO from different species quickly and easily

An Experimental Study Onthe Dehumidification Performance of a Low-flow Falling-film Liquid Desiccant Air-conditioner

AbstractThe dehumidifier is one of the main componentsinopen-cycle liquid desiccant air-conditioning systems. An experimental study was carried out to evaluate the performance of asolar thermally driven, low-flow, falling-film, internally-cooledparallel-plate liquid desiccant air-conditioner in Kingston, Ontario at Queen's University. A solution of LiCl and water was used as the desiccant.Unlike high-flow devices, the low-flow of desiccant solution flowing across the unit's dehumidifier and regenerator sections produces large variations in solution concentration. In this study, a series of tests were undertaken to evaluate the performance of the dehumidifier section of the unit. Results presented are based on mass flow and energy transport measurements that allowed the moisture transport rate between the air and liquid desiccant solution to be determined. Based on these results, arelationship between the desiccant concentration and the rate of dehumidification rate was found and the effect of inlet-air humidity onthe dehumidification effectiveness identified. The moisture removal rate of the system was found to range from 1.1g/s to 3.5g/s under the conditions evaluated. These result corresponded to an average dehumidification effectivenessof 0.55