Search results for: prudential regulations

Authors: Mustapha Achibane, Imane Allam

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Since the nineties, all Moroccan banking institutions have to respect an arsenal of prudential ratios. The respect of these prudential measures aims to ensure the financial system stability. In order to do so, regulatory authorities tried to reduce the financial and operational risks incurred by the banking entities. Meanwhile, regulatory authorities demanded a balance sheet management work from banks. They also asked them to establish a management control system to manage operational risk, as well as an effort in terms of incurred risk-based commitments. Therefore, the prudential approach has a macroeconomic nature and it is presented as a determinant of the operational, microeconomic approach. This operational approach takes the form of a strategy that each banking entity must develop to manage the different banking risks. This study seeks to analyze the problem of risk management between the prudential and the operational approaches. It was processed through a literature review followed by an analysis of the Moroccan banking sector’s performance. At first, we will reconcile the inductive logic and then, the analytical one. The first approach consists of analyzing the phenomenon from a normative and conceptual perspective, while the second one will consist of considering the Moroccan banking system and analyzing the behavior of Moroccan banking entities in terms of risk management and performance. The results identified a favorable growth in terms of performance, despite the huge provisioning effort made to meet the international standards and the harmonization of the regulations.

Keywords: banking performance, financial intermediation, operational approach, prudential standards, risk management

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Authors: Louati Salma, Louhichi Awatef, Boujelbene Younes

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Analysis of the trade-off between competition and financial stability has been at the center of academic and policy debate for over two decades and especially since the 2007-2008 global financial crises. We use information on 10 OIC countries from 2005 to 2014 to investigate the influence of bank competition on individual bank stability and risk-taking. Alternatively, we explore whether the quality of prudential regulation may affect the nexus between competition and banking stability/risk-taking. We provide a particular attention to the Islamic banking system which principally involves with the Riba-free instruments as compared to the conventional interest-based system. We first run a dynamic panel regression (GMM), and then we apply a panel vector autoregressive (PVAR) methodology to compare both banking business models.

Keywords: Lerner index, Islamic banks, non-performing loans, prudential regulations, z-score

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Authors: Pumela Msweli, Dexter L. Ryneveldt

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This paper seeks to shed light on institutional logics and institutionalization processes that influence the successful implementation of financial sector regulations. We use the neo-institutional theory lens to interrogate how the newly promulgated Financial Sector Regulations Act (FSRA) provides for the institutionalisation of the Twin Peaks Model. With the enactment of FSRA, previous financial regulatory institutions were dismantled, and new financial regulators established. In point, the Financial Services Conduct Authority (FSCA) replaced the Financial Services Board (FSB), and accordingly, the Prudential Authority (PA) was established. FSRA is layered with complexities that make it mandatory to co-exist, cooperate, and collaborate with other institutions to fulfill FSRA’s overall financial stability objective. We use content analysis of the financial regulations that established the Twin Peaks Models (TPM) in South Africa and in the Netherlands, to map out the three-stage institutionalization processes: (1) habitualisation, (2) objectification and (3) sedimentation. This allowed for a comparison of how South Africa, as a developing country and Netherlands as a developed country, have institutionalized the Twin Peak model. We provide valuable insights into how differences in the institutional and societal logics of the developing and developed contexts shape the institutionalization of financial regulations.

Keywords: financial industry, financial regulation, financial stability, institutionalisation, habitualization, objectification, sedimentation, twin peaks model

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Authors: Sandra Rigot, Samira Demaria, Frederic Lemaire

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The starting point of this research is the contemporary capitalist paradox: there is a real scarcity of long term investment despite the boom of potential long term investors. This gap represents a major challenge: there are important needs for long term financing in developed and emerging countries in strategic sectors such as energy, transport infrastructure, information and communication networks. Moreover, the recent financial and sovereign debt crises, which have respectively reduced the ability of financial banking intermediaries and governments to provide long term financing, questions the identity of the actors able to provide long term financing, their methods of financing and the most appropriate forms of intermediation. The issue of long term financing is deemed to be very important by the EU Commission, as it issued a 2013 Green Paper (GP) on long-term financing of the EU economy. Among other topics, the paper discusses the impact of the recent regulatory reforms on long-term investment, both in terms of accounting (in particular fair value) and prudential standards for banks. For banks, prudential and accounting standards are also crucial. Fair value is indeed well adapted to the trading book in a short term view, but this method hardly suits for a medium and long term portfolio. Banks’ ability to finance the economy and long term projects depends on their ability to distribute credit and the way credit is valued (fair value or amortised cost) leads to different banking strategies. Furthermore, in the banking industry, accounting standards are directly connected to the prudential standards, as the regulatory requirements of Basel III use accounting figures with prudential filter to define the needs for capital and to compute regulatory ratios. The objective of these regulatory requirements is to prevent insolvency and financial instability. In the same time, they can represent regulatory constraints to long term investing. The balance between financial stability and the need to stimulate long term financing is a key question raised by the EU GP. Does fair value accounting contributes to short-termism in the investment behaviour? Should prudential rules be “appropriately calibrated” and “progressively implemented” not to prevent banks from providing long-term financing? These issues raised by the EU GP lead us to question to what extent the main regulatory requirements incite or constrain banks to finance long term projects. To that purpose, we study the 292 responses received by the EU Commission during the public consultation. We analyze these contributions focusing on particular questions related to fair value accounting and prudential norms. We conduct a two stage content analysis of the responses. First, we proceed to a qualitative coding to identify arguments of respondents and subsequently we run a quantitative coding in order to conduct statistical analyses. This paper provides a better understanding of the position that a large panel of European stakeholders have on these issues. Moreover, it adds to the debate on fair value accounting and its effects on prudential requirements for banks. This analysis allows us to identify some short term bias in banking regulation.

Keywords: basel 3, fair value, securitization, long term investment, banks, insurers

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Authors: Shumaila Zeb

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The proposed study aims to investigate insolvency risk of commercial banks of Pakistan. Furthermore, it empirically estimates the effect of already implemented financial regulations on the insolvency risk of banks. To carry out the empirical analysis, a balanced bank-level panel data covering the period 2008-2016 is used. The Z-score is used for calculating the insolvency risk of each bank. The panel regression is used to investigate the relationship between financial regulations and insolvency risk of banks. The empirics reveal that the financial regulations enforced by State Bank of Pakistan have significant impacts on the insolvency risk of banks. The results further indicate that loan ratio and reserve ratio are positively and significantly related to the insolvency risk of banks.

Keywords: insolvency risk, Z-score, financial regulations, banks

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Authors: M Jeffri Arlinandes Chandra, Puwaningdyah Murti Wahyuni, Dewi Mutiara M Jeffri Arlinandes Chandra, Puwaningdyah Murti Wahyuni, Dewi Mutiara

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Indonesia is a state of the law in accordance with article 1 paragraph 3 of the Constitution of the Republic of Indonesia (1945 Constitution), namely, 'the State of Indonesia is a state of law'. The consequences of the rule of law are making the law as the main commanding officer or making the law as a basis for carrying out an action taken by the state. The types of regulations and procedures for the formation of legislation in Indonesia are contained in Law Number 12 of 2011 concerning the Formation of Legislation. Various attempts were made to make quality regulations both in the formal hierarchy and material hierarchy such as synchronization and harmonization in the formation of laws and regulations so that there is no conflict between equal and hierarchical laws, but the fact is that there are still many conflicting regulations found between one another. This can be seen clearly in the many laws and regulations that were sued to judicial institutions such as the Constitutional Court (MK) and the Supreme Court (MA). Therefore, it is necessary to have a formulation regarding the governance of the formation of laws and regulations so as to minimize the occurrence of lawsuits to the court so that positive law can be realized which can be used today and for the future (ius constituendum). The research method that will be used in this research is a combination of normative research (library research) supported by empirical data from field research so that it can formulate concepts and answer the challenges being faced. First, the structuring of laws and regulations in Indonesia must start from the inventory of laws and regulations, whether they can be classified based on the type of legislation, what are they set about, the year of manufacture, etc. so that they can be clearly traced to the regulations relating to the formation of laws and regulations. Second, the search and revocation/revocation of laws and regulations that do not exist in the state registration system. Third, the periodic evaluation system is carried out at every level of the hierarchy of laws and regulations. These steps will form an ideal model of laws and regulations in Indonesia both in terms of content and material so that the instructions can be codified and clearly inventoried so that they can be accessed by the wider community as a concrete manifestation of the principle that all people know the law (presumptio iures de iure).

Keywords: legislation, review, evaluation, reconstruction

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Authors: Tuğba Özdal, Neşe Şahin Yeşilçubuk

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Bisphenol-A (BPA) is one of the highest volume chemicals produced worldwide in the plastic industry. This compound is mostly used in producing polycarbonate plastics that are often used for food and beverage storage, and BPA is also a component of epoxy resins that are used to line food and beverage containers. Studies performed in this area indicated that BPA could be extracted from such products while they are in contact with food. Therefore, BPA exposure is presumed. In this paper, the chemical structure of BPA, factors affecting BPA migration to food and beverages, effects on health, and recent regulations will be reviewed.

Keywords: BPA, health, regulations, toxicity

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Authors: Tadewos Awugchew Wudineh

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Health and safety issues have always been a major problem and concern in the building construction industry. The health and safety regulations are stated to eliminate the potential hazards and to reduce the consequential risks. However, the importance of the regulations seems to be overlooked in building construction sites of Hawassa City. Accordingly, many companies don’t follow the regulations as construction workers are more likely to be injured and killed by construction accident than any other type of employment. This paper aimed to identify factors that affect the implementation of construction health and safety regulations, their effects and mitigation measures in building construction project sites of Hawassa City. To reach this objective, a review of literature as well as the Ethiopian construction health and safety regulations have been undertaken. Mainly a five-point Likert scale questionnaire was distributed, and statistical analysis was used to summarize, interpret the data, and to find the significances of the responses. In addition, interviews were carried out. Accordingly, the findings indicate that the top factors which affect the implementation of CHS regulations are, availability and development of a clear health and safety policy, health and safety inspections by top management, conducting health and safety training and orientation, provision of healthy and safe working environment and employment of trained safety officers. The study revealed that implementation or non-implementation of CHS regulations have effects on the worker’s productivity, job satisfaction, rate of accidents, and cost greatly. Thus, the suggestion to minimize the impact on worker’s job performance are, developing of a clear health and safety policy, management commitment towards implementation of health and safety regulations, health and safety education and training and conducting regular health and safety inspections. It was concluded from the study that good implementation of health and safety regulations are the results from administrative and management commitment which calls for more attention to be paid to improve the implementation of CHS regulations in building construction sites of Hawassa City.

Keywords: construction health and safety regulations, effects, factors, mitigation

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Authors: Yan Chen, Hongbing Li, Ruirui Zhai

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Innovation driven and innovation in the process of new-type urbanization is a major strategic choice for the introduction of foreign capital and the process of economic development. This research investigates the effect of urbanization, FDI and environmental regulations on innovation performance of enterprises, based on Chinese Industrial Statistics Database of 2004 to 2007 and data at province-level. It is found that the FDI from U.S. and environmental regulations will hinder the creativity of Chinese industry through reducing the R&D of them. However, the FDI from U.S. enhances the ability of domestic enterprises to attain “compensation from innovation” following the environmental regulations. Meanwhile, we confirm that environmental regulation can contribute to the innovation spillover of FDI from U.S. Furthermore, the channel of effect is discussed. In addition, FDI from EU and Japan are further examined. Unlike the FDI from U.S., the FDI from EU and Japan both have the positive innovation spillover effect, but through the same channel referred above which exist in FDI. Further analysis based on "innovation-driven effect" of urbanization is developed, and it is found that urbanization has an innovation-driven effect on environmental regulation and FDI spillover. The regulation of FDI from the United States and the European Union outperforms the FDI from Japan at a restrained degree.

Keywords: environmental regulations, FDI, innovation-driven, innovation performance

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Authors: Nuray Gökçek Karaca

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This study aims to examine the application of occupational health and safety supervision in Turkey and EU countries in terms of legal regulations. The results of research reveal that occupational health and safety supervision in EU countries, whatever the understanding of welfare state, is effectively carried out and almost all legal regulations on this subject are consistent with the EU directives. On the other hand, there are serious problems in applications, not legal regulations, of occupational health and safety supervision in Turkey by the side of EU countries. Indeed, Turkey has modern regulations on occupational health and safety supervision whereas there are several problems such as ignoring prevention policy on occupational health and safety supervision, understanding of monotype inspector, problems resulting from this understanding and dispersed structure of occupational health and safety organizations in workplaces. As a result, Turkey needs to carry out effective supervision mechanisms.

Keywords: legal rules, occupational health and safety, inspection, supervision, legislation

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Authors: Piotr Prewysz-Kwinto, Grazyna Voss

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Accounting policies are a set of solutions compliant with legal regulations that an entity selects and adopts, and which guarantee a proper quality of financial statements. Those solutions may differ depending on whether the entity adopts national or international accounting standards. The aim of this article is to present accounting principles (policies) in Polish and international legal regulations and their adoption in selected Polish companies listed on the Warsaw Stock Exchange. The research method adopted in this work is the analysis and evaluation of legal conditions in Polish companies.

Keywords: accounting policies, international financial reporting standards, financial statement, method of measuring

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Authors: Anat Keller

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Given that macro-prudential supervision is a relatively new policy area and its empirical and analytical research are still in their infancy, its theoretical foundations are also lagging behind. This paper contributes to the developing discussion on effective legal and institutional macroprudential supervision frameworks. In the first part of the paper, it is argued that effectiveness as a key benchmark poses some challenges in the context of macroprudential supervision such as the difficulty in proving causality between supervisory actions and the achievement of the supervisor’s mission. The paper suggests that effectiveness in the macroprudential context should, therefore, be assessed at the supervisory decision-making process (to be differentiated from the supervisory outcomes). The second part of the essay examines whether insights from behavioural economics can point to biases in the macroprudential decision-making process. These biases include, inter alia, preference bias, groupthink bias and inaction bias. It is argued that these biases are exacerbated in the multilateral setting of the macroprudential supervision framework in the EU. The paper then examines how legal and institutional frameworks should be designed to acknowledge and perhaps contain these identified biases. The paper suggests that the effectiveness of macroprudential policy will largely depend on the existence of clear and robust transparency and accountability arrangements. Accountability arrangements can be used as a vehicle for identifying and addressing potential biases in the macro-prudential framework, in particular, inaction bias. Inclusiveness of the public in the supervisory process in the form of transparency and awareness of the logic behind policy decisions may assist in minimising their potential unpopularity thus promoting their effectiveness. Furthermore, a governance structure which facilitates coordination of the macroprudential supervisor with other policymakers and incorporates outside perspectives and opinions could ‘break-down’ groupthink bias as well as inaction bias.

Keywords: behavioural economics and biases, effectiveness of macroprudential supervision, legal and institutional macroprudential frameworks, macroprudential decision-making process

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Authors: Mahmood Alsaadi, Alexei Lisitsa

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Nowadays, medical devices rely completely on software whether as whole software or as embedded software, therefore, the organization that develops medical device software can benefit from adopting agile practices. Using agile practices in healthcare software development industries would bring benefits such as producing a product of a high-quality with low cost and in short period. However, medical device software development companies faced challenges in adopting agile practices. These due to the gaps that exist between agile practices and the requirements of healthcare regulations such as documentation, traceability, and formality. This research paper will conduct a study to investigate the adoption rate of agile practice in medical device software development, and they will extract and outline the requirements of healthcare regulations such as Food and Drug Administration (FDA), Health Insurance Portability and Accountability Act (HIPAA), and Medical Device Directive (MDD) that affect directly or indirectly on software development life cycle. Moreover, this research paper will evaluate the suitability of using agile practices in healthcare industries by analyzing the most popular agile practices such as eXtream Programming (XP), Scrum, and Feature-Driven Development (FDD) from healthcare industry point of view and in comparison with the requirements of healthcare regulations. Finally, the authors propose an agile mixture model that consists of different practices from different agile methods. As result, the adoption rate of agile practices in healthcare industries still low and agile practices should enhance with regard to requirements of the healthcare regulations in order to be used in healthcare software development organizations. Therefore, the proposed agile mixture model may assist in minimizing the gaps existing between healthcare regulations and agile practices and increase the adoption rate in the healthcare industry. As this research paper part of the ongoing project, an evaluation of agile mixture model will be conducted in the near future.

Keywords: adoption of agile, agile gaps, agile mixture model, agile practices, healthcare regulations

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Authors: Kaan Koyuncu, Umut Celen Arican, Sevilay Can

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In the maritime industry, there have been regulations to prevent pollution, and the first attempt to offer a legal basis was Marpol Convention which was held in 1973 in order to provide a framework for the disposal of ship wastes. Based on this convention, ports are obliged to build waste receiving facilities. European Union regulations make several member countries to follow these directions, In Turkey, under Blue Card System, the quantity and types of wastes, the delivery time, the capacity of the receiving facilities, and other required information can be monitored online. Therefore, yachts and other boats with the bilge, sewage, and waste which illegally discharge into the sea, can be blocked. This system is an outcome of the law adopted from European Union regulations. In this study, the present systems in Turkey which occurred in 2010 after the integration of the system, which has been put in the force in 2000 in Europe will be analyzed and interpreted to provide a useful comparison, a practical guide, and a roadmap for potential improvements.

Keywords: Europe-Turkey, blue card, marine environment, ship waste tracking system

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Authors: Mufide Cotuk, Muslim Bakir

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National education in Turkey aims to provide superior education opportunities to students in order to develop their intellectual abilities in accordance with contemporary pedagogy. Physical education (PE) plays an important role in this context. Various factors affect the quality and efficiency of the process of PE. Factors related to governance are crucially important, especially those of authority and responsibility. For educational institutions at high school level, the factors affecting authority and responsibility have not been clearly delineated. Therefore, the aim of this study was to examine authority and responsibility of PE teachers as the balance between them. The study sample consisted of 60 PE teachers (19 women, 41 men) at 57 high schools in Istanbul (65% state and 35% private institutions). All PE teachers completed the study questionnaire collecting demographic and institutional data as knowledge and attitudes regarding authority and responsibility issues. The determination of authority and responsibility of PE teachers has been grounded on the law for government officials, course-passing regulations, and school sports regulations. The PE teachers declared as the primary source of their authority and responsibility ‘school sports regulations’ (56,7% of PE teachers), ‘course-passing regulations’ (36,7% of PE teachers) and ‘the law for government officials’ (30,0% of PE teachers). The PE teachers mentioned that the school administration burdened them with additional responsibilities (58,3% of PE teachers). Such ‘additional’ responsibilities were primarily related to ‘disciplinary regulations’ (21,7% of PE teachers) and ‘maintenance of school order’ (16,0% of PE teachers). In conclusion, authority and responsibility of PE teachers were not well balanced. As authority issues were not clearly stated, ‘compulsory’ responsibilities increased causing this imbalance.

Keywords: authority, PE teacher, responsibility, sport management

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Authors: Gizem Kodak, Birsen Koldemir

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The Turkish Straits are at the crossroads of Europe and Asia continents and are unique waterways connecting the Black Sea countries to the rest of the world. Because of the geostrategic value of the location, passage of trade and war ships through the Turkish Straits has become a vital attraction and importance for the great powers and the riparian states throughout the history. This study contains a temporal analysis of the legal measures implemented in the Turkish Straits System. In this context, the historical alternation of the Turkish Straits has been examined, taking into account the relevant national and international regulations. In other words, relevant national and international regulations have been examined in this study according to historical time schedules. Parallel to the main concept mentioned above, the first chapter focuses on international regulations. These arrangements are organized according to date order and in three subheadings: Sèvres Treaty (1920), Lausanne Treaty (1923) and Montreux Convention (1936). Another topic, the national regulations, has been examined under five subheadings. These; (1982), Port Regulations of Canakkale (1982), Marine Traffic Regulations of the Turkish Straits and Marmara Region (1994) and Maritime Traffic Regulations for the Turkish Straits (1998). In doing so, the aim was to identify the differences in legal arrangements throughout the time regarding the navigation through the Turkish Straits. The current situation of the Turkish Straits has been presented in detail in the last part of the work, taking Montreux Convention into consideration. In this context, the articles of the Convention which regulate the passage of trade vessels have been examined from two perspectives; Peace time and war time. As for the measures that can be implemented in time of war, three options put forward depending on Turkey's stance: ‘Turkey not being belligerent’, ‘Turkey being belligerent’ and ‘situation in which Turkey considers herself threatened with imminent danger of war’.

Keywords: temporal analysis, maritime law, Turkish straits, maritime accidents

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Authors: D. Pranav

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Pesticides are a class of Biocide, whose use in agriculture has led to a momentous increase in the yield of crops, fruits and vegetables all over the word and its effective use has also been the pillars of success for the Green Revolution. However, the incessant use of pesticides has now reached alarming levels. In 2007 alone, the world used an estimated 2.4 million tons of pesticides. Despite its tremendous benefits for agriculture, pesticide has been one of the major reasons for degradation of the natural environment and undesirable effects on human beings. It has not only caused damage to human health, but has also threatened the survival of few birds and animal species. In India, the sale and usage of banned pesticide, increased usage of pesticides and its inadequate labeling has caused Bio magnification, which is causing deleterious effects on child development, resulting in stunted mental and physical growth. This paper aims to bring to shed light on major loopholes in the current pesticide regulations such as the Insecticide Act of 1968. It further discusses loopholes in the yet to be tabled Pesticides Management Bill of 2008. It discusses and arrives at potential amendments to the laws and regulations concerning pesticides; that cannot only be applied to the Indian subcontinent but other developing countries as well.

Keywords: pesticides, India, human health, environment, regulations, reform

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Authors: Aswin V. J., Sreeja S., R. Harikumar

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Ship collision is one of the major concerns while navigating in the ocean. In congested sea routes where there are hectic offshore operations, ships are often forced to take close encounter maneuvers. Maritime rules for preventing collision at sea are defined in the International Regulations for Preventing Collision at Sea. Traffic Separation Schemes (TSS) are traffic management route systems ruled by International Maritime Organization (IMO), where the traffic lanes indicate the general direction of traffic flow. The Rule 10 of International Regulations for Preventing Collision at Sea prescribes the conduct of vessels while navigating through TSS. But no quantitative criteria regarding the procedures to detect and evaluate collision risk is specified in International Regulations for Preventing Collision at Sea. Most of the accidents that occur are due to operational errors affected by human factors such as lack of experience and loss of situational awareness. In open waters, the traffic density is less when compared to that in TSS, and hence the vessels can be operated in autopilot mode. A collision avoidance method that uses the possible obstacle trajectories in advance to predict “collision occurrence” and can generate suitable maneuvers for collision avoidance is presented in this paper. The suitable course and propulsion changes that can be used in a TSS considering International Regulations for Preventing Collision at Sea are found out for various obstacle scenarios.

Keywords: collision avoidance, maneuvers, obstacle trajectories, traffic separation scheme

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Authors: Mardiyansyah Mardiyansyah, Hendrik Maulana, Eka Kurnia Sari, Imam Baehaki, Mohammad Agus Prihandono

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Mobile device has become a key feature in Indonesian society and the economy, including government and private sector. Enterprises and government agencies already have a concern about mobile device security. However, small and medium enterprises (SME) do not have that sense yet, especially the new startups company. Indonesia has several laws, regulations, and standards for managing security in mobile devices. Currently, Indonesian information security policies have not been harmonized, each government organization and large enterprise has its own rules and policies. It leads to a conflict of interest among government agencies. This will certainly cause ineffectiveness in the implementation of policies. Therefore, an analysis of various government policies, regulations, and standards related to information security, especially on mobile devices, is carried out. This analysis is conducted to map the existing regulatory policies and standards into practical guidelines regarding NIST's information security to show the effectiveness of NIST SP 1800-4 towards existing policies. This work focused on the mapping of the NIST SP 1800-4 framework towards existing regulations, standards, and guidelines in Indonesia. The research approach is literature study to identify existing regulations, standards, and guidelines then the regulation mapped into the NIST SP 1800-4 framework and analyzed whether the framework could be applied to the organization in Indonesia. Finally, the finding and recommendations by documenting the security characteristics can be concluded. Based on the research finding, some of the regulations, standards, and guidelines in Indonesia are relevant to the elements in the NIST SP 1800-4 framework. From mapping analysis, the strength and weakness of mobile device security in Indonesia can be reported. It also can be concluded that the application of NIST SP 1800-4 can improve the effectiveness of mobile device security policies in Indonesia.

Keywords: mobile security, mobile security framework, NIST SP 1800-4, regulations

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Authors: Astha Sinha, Anjali Kanagali

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The United Kingdom’s withdrawal from the European Union, also termed as “Brexit,” took place on June 23, 2016 and immediately had global repercussions on the stock markets of the world. It is however expected to have a greater impact on the Banking sector in the UK. There is a two-fold effect on the earnings of banks which is being expected. First is of the trading activity and investment banking businesses being hit due to global weakness in financial markets. Second is that the banks having a large presence in the European Union will have to restructure their operations in order to cover other European countries as well increase their operating costs. As per the analysis, banks are expected to face rate cuts, bad loans, and tight liquidity. The directives in the Brexit negotiations on the Markets in Financial Instruments Directive (MiFID) will be a major decision to be taken for the Banking sector. New regulations will be required since most of the regulations governing the financial services industry allowing for the cross-border transactions were at the EU level. This paper aims to analyze the effect of Brexit on the UK Banking sector and changes in regulations that are expected due to the same. It shall also lay down the lessons learnt from the 2008 financial crisis and draw a parallel in terms of potential areas to be focused on for revival of the financial sector of Britain.

Keywords: Brexit, Brexit impact on UK, impact of Brexit on banking, impact of Brexit on financial services

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Authors: Mohamed Aljarallah, Mohamed Nurullah, George Saridakis

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This paper aims and objectives are to investigate how the structural change of the financial regulatory bodies affect the financial supervision and how the regulators can design such a structure with taking into account; the Central Bank, the conduct of business and the prudential regulators, it will also consider looking at the structure of the international regulatory bodies and what barriers are found. There will be five questions to be answered; should conduct of business and prudential regulation be separated? Should the financial supervision and financial stability be separated? Should the financial supervision be under the Central Bank? To what extent the politician should intervene in changing the regulatory and supervisory structure? What should be the regulatory and supervisory structure when there is financial conglomerate? Semi structure interview design will be applied. This research sample selection contains a collective of financial regulators and supervisors from the emerged and emerging countries. Moreover, financial regulators and supervisors must be at a senior level at their organisations. Additionally, senior financial regulators and supervisors would come from different authorities and from around the world. For instance, one of the participants comes from the International Bank Settlements, others come from European Central Bank, and an additional one will come from Hong Kong Monetary Authority and others. Such a variety aims to fulfil the aims and objectives of the research and cover the research questions. The analysis process starts with transcription of the interview, using Nvivo software for coding, applying thematic interview to generate the main themes. The major findings of the study are as follow. First, organisational structure changes quite frequently if the mandates are not clear. Second, measuring structural change is difficult, which makes the whole process unclear. Third, effective coordination and communication are what regulators looking for when they change the structure and that requires; openness, trust, and incentive. In addition to that, issues appear during the event of crisis tend to be the reason why the structure change. Also, the development of the market sometime causes a change in the regulatory structure. And, some structural change occurs simply because of the international trend, fashion, or other countries' experiences. Furthermore, when the top management change the structure tends to change. Moreover, the structure change due to the political change, or politicians try to show they are doing something. Finally, fear of being blamed can be a driver of structural change. In conclusion, this research aims to provide an insight from the senior regulators and supervisors from fifty different countries to have a clear understanding of why the regulatory structure keeps changing from time to time through a qualitative approach, namely, semi-structure interview.

Keywords: financial regulation bodies, financial regulatory structure, global financial regulation, financial crisis

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Authors: Luisa Perez-Mujica

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Traditionally, non-compliance in water regulation has been understood to be attributable to lack of information or knowledge of regulations. In other words, it is confusing behavioural change and education with communication or regulations. However, compliance is a complex response to water regulation factors including 1) knowledge and understanding of regulations; 2) perception that resources are overregulated; 3) presence of regulatory officers in the field; 4) accurate communication of what is being protected; 5) time lag between behavioral change projects and observation of outcomes and 6) how success of behavioral change is measured and evaluated. This paper presents a framework for designing education and behavioral change projects by understanding non-compliance in terms of the interaction of its factors, including a process for prioritizing projects, actions, evaluation and monitoring of outcomes. By taking a systemic approach to compliance, a more directed type of actions can be efficiently identified and prioritized, preventing the reactive nature of education and behavioral change projects.

Keywords: water regulation, compliance, behaviour change, systems thinking

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Authors: M. de Miguel Molina, V. Santamarina Campos, M. V. Segarra Oña, B. de Miguel Molina

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Safety and security concerns play a key role during the design of civil UAs (aircraft controlled by a pilot who is not onboard it) by the producers and the offer of different services by the operators. At present, European countries have fragmented regulations about the manufacture and use of civil drones, therefore the European institutions are trying to approach all these regulations into a common one. In this sense, not only law but also ethics can give guidelines to the industry in order to obtain better reports from their clients. With our results, we would like to give advice to the European industry, as well as give new insights to the academia and policymakers.

Keywords: ethics, regulation, safety, security

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Authors: Fady Tawakol

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BitCoin is a decentralized cryptocurrency that can be used without the need of traditional central banks to accomplish any e-commerce trade. The use of such currency could facilitate new economic interactions and linkages. However, without effective and efficient regulations, cryptocurrency transactions are mostly used by criminals to commit crimes such as money laundering, theft, and blackmailing. And because law is one step behind technological developments, this paper discusses the importance of regulations and supervision for the BitCoin-system, to provide unified regulatory solutions for our digital future in the Middle East. It will provide a detailed analysis of the legal nature of BitCoin along with, its regulation with respect to criminal and civil law.

Keywords: BitCoin, financial protection, crypto currency, money laundering

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Authors: Maria Kjellgren, Sara Lilliehorn, Urban Markström

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Critical components that influence the role and performance of school social workers in Swedish elementary schools will be described and analysed, such as formal regulations, professional self-understanding, and the SSWs’ role in the interplay between professional domains involved in elementary school. The data collection was conducted through four semi-structured focus group interviews with a total of 22 SSWs in four different regions in Sweden. The result reveals three main challenges for the School Social Worker (SSW): (1) To navigate in a pedagogic and medical arena within a multidisciplinary team, (2) To manage ambiguity without any formal regulations and unclear settings and leadership and finally, (3) To negotiate tasks at different levels, with a health promotional and preventive focus, where the SSW ends up, mainly in remedial work with individual children. The results also disclosed that SSWs hold a vague professional self-understanding position with a little formal mandate to perform their work.

Keywords: school social worker, multidisciplinary team, counselling, professional self-understanding, formal regulations

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Authors: Thidarath Rungruangchaikongmi, Duangsamorn Rungsawanpho

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This research aims to investigate the efficiency of storehouse management and collect problems of the process of storehouse work of Faculty of Management Science, Suan Sunandha Rajabhat University. The subjects consisting of head of storehouse section and staffs, sampled through the Convenience Sampling Technique for 97 sampling were included in the study and the Content Analysis technique was used in analysis of data. The results of the study revealed that the management efficiency of the storehouse work on the part of work process was found to be relevant to university’s rules and regulations. The delay of work in particular steps had occurred due to more rules and regulations or practice guidelines were issued for work transparency and fast and easy inspection and control. The key problem of the management of storehouse work fell on the lack of knowledge and understanding regarding university’s rules and regulations or practice guidelines of the officers.

Keywords: efficiency of storehouse management, faculty of management science, process of storehouse work, Suan Sunandha Rajabhat University

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Authors: Lujain Khraiba

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Recently, there is a broad recognition that micro-climate conditions contribute to the quality of life in urban spaces outdoors, both from economical and social viewpoints. The consideration of urban micro-climate and outdoor thermal comfort in urban design and planning processes has become one of the important aspects in current related studies. However, these aspects are so far not considered in urban planning regulations in practice and these regulations are often poorly adapted to the local climate and culture. Therefore, there is a huge need to adapt the existing planning regulations to the local climate especially in cities that have extremely hot weather conditions. The overall aim of this study is to point out the complexity of the relationship between urban planning regulations, urban design, micro-climate and outdoor thermal comfort in the hot dry city of Damascus, Syria. The main aim is to investigate the temporal and spatial effects of micro-climate on urban surface temperatures and outdoor thermal comfort in different urban design patterns as a result of urban planning regulations during the extreme summer conditions. In addition, studying different alternatives of how to mitigate the surface temperature and thermal stress is also a part of the aim. The novelty of this study is to highlight the combined effect of urban surface materials and vegetation to develop the thermal environment. This study is based on micro-climate simulations using ENVI-met 3.1. The input data is calibrated according to a micro-climate fieldwork that has been conducted in different urban zones in Damascus. Different urban forms and geometries including the old and the modern parts of Damascus are thermally evaluated. The Physiological Equivalent Temperature (PET) index is used as an indicator for outdoor thermal comfort analysis. The study highlights the shortcomings of existing planning regulations in terms of solar protection especially at street levels. The results show that the surface temperatures in Old Damascus are lower than in the modern part. This is basically due to the difference in urban geometries that prevent the solar radiation in Old Damascus to reach the ground and heat up the surface whereas in modern Damascus, the streets are prescribed as wide spaces with high values of Sky View Factor (SVF is about 0.7). Moreover, the canyons in the old part are paved in cobblestones whereas the asphalt is the main material used in the streets of modern Damascus. Furthermore, Old Damascus is less stressful than the modern part (the difference in PET index is about 10 °C). The thermal situation is enhanced when different vegetation are considered (an improvement of 13 °C in the surface temperature is recorded in modern Damascus). The study recommends considering a detailed landscape code at street levels to be integrated in urban regulations of Damascus in order to achieve a better urban development in harmony with micro-climate and comfort. Such strategy will be very useful to decrease the urban warming in the city.

Keywords: micro-climate, outdoor thermal comfort, urban planning regulations, urban spaces

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Authors: Khorief Ouissem, Sassi Boudmagh Souad, Mahimoud Aissa

Abstract:

The health and safety problem in the construction companies has been a major subject of research in Algeria for many years. The latest statistics of the Algerian National Social Security Fund (CNAS) shows that a third of accidents recorded at the national level are originated from construction activities. It is becoming increasingly essential and urgent to investigate and address its causes in order to find measures to overcome the deficiencies in this area. Thus, this paper takes in investigating this problem through a study conducted in the city of Skikda, Algeria. The study was carried out through questionnaire where twenty construction companies were taking into consideration. First, the study identifies the regulations and the laws related to the health and safety in the construction sector in Algeria. Then it goes on to assess and evaluate the implementation of the identified regulations in the companies selected. The result of the assessment indicates that the majority of the construction companies considered do not meet the health and safety standards and regulations. To extract the main causes of the failure of the system to control this industry, the observations and the evaluation were analyzed using the 5M or Ichikawa diagram method. This method is based on identifying the causes of the problem in terms of purpose, the list of potential causes for families. These families often correspond to 5M (Labor, Material, Methods, Middle, and Management). Finally, having identified the primary motives, the present authors propose a list of actions to move towards a more controlled and effective health and safety system for the construction industry.

Keywords: health and safety, construction industry, performance measurement, Algeria

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Authors: Matthew Venunye Fianu, Jerry Fiave, Ebenezer Kye-Mensah, Dacosta Aboagye, Felix Osei-Sarpong

Abstract:

Introduction: Road traffic accidents involving motorbikes are a priority public health concern in Ghana. While there are local initiatives to address this public health challenge, little is known about motor riders’ knowledge and compliance with road safety regulations (RSR) and their association with RTAs. The aim of this study was, therefore, to assess motorbike riders’ knowledge and compliance with RSRs. Methodology: Motorbike riders in Hohoe Municipality were randomly sampled in a cross-sectional study in June 2022. Data were collected from 237 riders using a questionnaire designed in Kobocollect and administered by ten research assistants. A score of 70% or less is considered low for knowledge and compliance. The data were exported into Excel and imported into STATA 17 for analysis. A chi-square test was performed to generate descriptive and inferential statistics to establish the association between independent and dependent variables. Results: All 237 respondents were male, and each of them completed the questionnaire representing a 100% response rate. Participants who had knowledge about speed limit at different segments of the road were 59(24.9%), the use of helmet were 124 (52.3%), and alcohol use were 152 (64.1%). Participants who complied with regulations on speed limits, helmet use, and alcohol use were 108 (45.6%), 179(75.5%), and 168(70.8%), respectively. Riders who had at least junior high school education were 2.43 times more likely to adhere to RSR [cOR =2.43(95%CI= 1.15-6.33) p= 0.023] than those who had less education. Similarly, riders who had high knowledge about RSR were 2.07 times more likely to comply with RSR than those who had less knowledge [AOR= -2.07 (95% CI= 0.34-0.97), p=0.038]. Conclusion: Motor riders in the Hohoe Municipality had low knowledge as well as low compliance with road safety regulations. This could be a contributor to road traffic accidents. It is therefore recommended that road safety regulatory authorities and relevant stakeholders enhance the enforcement of RSR. There should also be country-specific efforts to increase awareness among all motor riders, especially those with less than junior high school education.

Keywords: compliance, motor riders, road safety regulations, road traffic accident

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Authors: Qamar Raza

Abstract:

This paper deals with the human concern and onus which every person should provide to his/her society. Especially the rules and regulations described in constitution or traditions which we have inherited from ancestors should be followed, and also our lives should be led in accordance with them. The main concern of paper would be personal behavior with others in a good manner especially what he/she should exercise for society’s welfare. As human beings are the fundamental organ of society, who play a crucial role in reforming the society, they should try their best to develop it as well as maintain harmony, peace, we-feeling and mutual contact in the society. Focusing on how the modern society and its elements keep society successful. Regulations of our constitution and tradition are essential for reforming the society. In a nutshell, a human has to mingle in his society and keep mutual respect and understand the value of others as well as for himself.

Keywords: constitution, human beings, society, traditions

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