The EBA has published updated guidelines on remuneration policies for consultation that propose significant changes and will increase regulatory requirements if finalized. Some of the key proposals include stricter proportionality rules that would subject more firms and individuals to remuneration restrictions, sector-specific requirements that could create an uneven playing field, and enhanced processes for identifying material risk-takers. Respondents to the consultation are encouraged to provide feedback on these issues. The consultation closes in June 2015, with the new guidelines intended to take effect in January 2016.
This document provides a summary of a peer review report on the implementation of compensation principles and standards across FSB member jurisdictions. It finds that while significant progress has been made over the past year in developing regulatory frameworks, fully implementing the principles to align compensation with prudent risk-taking will require continued effort. It recommends several additional measures including enhanced supervisory cooperation on cross-border firms, development of industry risk-adjustment practices, and increased coverage of non-bank financial institutions. Authorities are urged to finalize implementation efforts in 2010 and firms to continue progressing risk alignment in compensation schemes.
The document discusses corporate governance practices related to executive compensation and risk management. It notes that the financial crisis highlighted challenges with boards effectively overseeing executive pay, in particular how compensation incentives are aligned with long-term company interests according to its risk appetite. The OECD principles state that boards are responsible for aligning executive pay with long-term shareholder interests. Several countries have adopted policies like clawbacks and say-on-pay votes to strengthen the link between pay and performance. Most companies have established remuneration committees, though some smaller boards oversee compensation collectively.
OECD Guidelines on Corporate Governance of State-owned enterprises: the instr...OECDglobal
Panel 4: Dr. Ashraf GAMAL CEO, Hawkamah Institute for Corporate Governance, "OECD Guidelines on Corporate Governance of State-owned enterprises: the instrument and its 2015 revision"; Enhancing Integrity for Business Development in the Middle East and North Africa, 18 April 2016, Paris, France, Session 4
The document summarizes a study conducted on 25 Trade Associations and Chambers (TACs) under Singapore's LEAD Programme. The study aimed to develop an Association Capability Enhancement Framework (ACEF) to assess the TACs and identify areas for improvement. Key findings included that TAC leaders are committed but rely heavily on membership fees, secretariats are not often outsourced, and services could be expanded. Recommendations focused on improving strategic planning, financial sustainability through diversification, regular self-reviews, and better promotion of TACs to companies.
Baker Tilly Back Office benchmarking guide for Social Housing part of our V...Golden Marzipan
Here is our latest update on our Back Office Benchmarking service for the Social Housing sector with over 40+ members its a unique service and part of our VFM solution suite
Corporate Governance In PSEs by Dr Shamshad AkhtarHammad Siddiqui
This document discusses corporate governance reforms needed for state-owned enterprises (SOEs) in Pakistan. It notes that SOEs currently contribute around 10% of Pakistan's GDP but lack transparency and oversight. Reforms proposed include privatizing some SOEs, restructuring boards to include more independent members, separating the roles of CEO and board chair, and establishing committees. A centralized ownership model is also recommended to improve accountability. Overall, strengthening corporate governance of SOEs is seen as crucial but external reforms are also needed like developing clear SOE policies and enhancing regulatory oversight.
Analysis of Bharti Airtel for 2008 09 For Linked InRohit Ranganathan
Bharti Airtel is India's leading telecommunications services provider with over 100 million customers across its mobile, DTH, and landline operations. In the financial year 2008-2009, Bharti Airtel added over 31 million new mobile customers, with revenues from mobile services growing 39% and contributing 81% of consolidated revenues. The company is focusing on opportunities in rural areas while managing risks from increased regulation and competition.
OECD Public Sector Accruals Symposium - Brian Quinn and Jon BlondalOECD Governance
This presentation by Brian Quinn and Jon Blondal was made at the 14th Annual OECD Public Sector Accruals Symposium, Paris 3-4 March 2014. Find out more at http://www.oecd.org/gov/budgeting/14thannualoecdpublicsectoraccrualssymposiumparis3-4march2014.htm
This document provides a summary of a peer review report on the implementation of compensation principles and standards across FSB member jurisdictions. It finds that while significant progress has been made over the past year in developing regulatory frameworks, fully implementing the principles to align compensation with prudent risk-taking will require continued effort. It recommends several additional measures including enhanced supervisory cooperation on cross-border firms, development of industry risk-adjustment practices, and increased coverage of non-bank financial institutions. Authorities are urged to finalize implementation efforts in 2010 and firms to continue progressing risk alignment in compensation schemes.
The document discusses corporate governance practices related to executive compensation and risk management. It notes that the financial crisis highlighted challenges with boards effectively overseeing executive pay, in particular how compensation incentives are aligned with long-term company interests according to its risk appetite. The OECD principles state that boards are responsible for aligning executive pay with long-term shareholder interests. Several countries have adopted policies like clawbacks and say-on-pay votes to strengthen the link between pay and performance. Most companies have established remuneration committees, though some smaller boards oversee compensation collectively.
OECD Guidelines on Corporate Governance of State-owned enterprises: the instr...OECDglobal
Panel 4: Dr. Ashraf GAMAL CEO, Hawkamah Institute for Corporate Governance, "OECD Guidelines on Corporate Governance of State-owned enterprises: the instrument and its 2015 revision"; Enhancing Integrity for Business Development in the Middle East and North Africa, 18 April 2016, Paris, France, Session 4
The document summarizes a study conducted on 25 Trade Associations and Chambers (TACs) under Singapore's LEAD Programme. The study aimed to develop an Association Capability Enhancement Framework (ACEF) to assess the TACs and identify areas for improvement. Key findings included that TAC leaders are committed but rely heavily on membership fees, secretariats are not often outsourced, and services could be expanded. Recommendations focused on improving strategic planning, financial sustainability through diversification, regular self-reviews, and better promotion of TACs to companies.
Baker Tilly Back Office benchmarking guide for Social Housing part of our V...Golden Marzipan
Here is our latest update on our Back Office Benchmarking service for the Social Housing sector with over 40+ members its a unique service and part of our VFM solution suite
Corporate Governance In PSEs by Dr Shamshad AkhtarHammad Siddiqui
This document discusses corporate governance reforms needed for state-owned enterprises (SOEs) in Pakistan. It notes that SOEs currently contribute around 10% of Pakistan's GDP but lack transparency and oversight. Reforms proposed include privatizing some SOEs, restructuring boards to include more independent members, separating the roles of CEO and board chair, and establishing committees. A centralized ownership model is also recommended to improve accountability. Overall, strengthening corporate governance of SOEs is seen as crucial but external reforms are also needed like developing clear SOE policies and enhancing regulatory oversight.
Analysis of Bharti Airtel for 2008 09 For Linked InRohit Ranganathan
Bharti Airtel is India's leading telecommunications services provider with over 100 million customers across its mobile, DTH, and landline operations. In the financial year 2008-2009, Bharti Airtel added over 31 million new mobile customers, with revenues from mobile services growing 39% and contributing 81% of consolidated revenues. The company is focusing on opportunities in rural areas while managing risks from increased regulation and competition.
OECD Public Sector Accruals Symposium - Brian Quinn and Jon BlondalOECD Governance
This presentation by Brian Quinn and Jon Blondal was made at the 14th Annual OECD Public Sector Accruals Symposium, Paris 3-4 March 2014. Find out more at http://www.oecd.org/gov/budgeting/14thannualoecdpublicsectoraccrualssymposiumparis3-4march2014.htm
Ey 2018-uk-corporate-governance-code-and-new-legislationKevin McCaffrey
The document summarizes key changes and requirements in the 2018 UK Corporate Governance Code and new related legislation. Some of the main points covered include:
- The 2018 Code places more emphasis on stakeholder engagement, workforce engagement, corporate culture and purpose.
- It introduces requirements around board diversity, succession planning, independence and overboarding.
- The role of the nomination committee is expanded around succession planning and reporting.
- New legislation requires companies to report on how they consider stakeholder interests, and include a CEO pay ratio and workforce engagement statement.
- Areas like chair tenure, independence criteria, and audit committee responsibilities saw some changes following consultation feedback.
- Listed companies will need to comply with
2016 CDA Gawad Parangal for Outstanding Primary Cooperativejo bitonio
The document outlines the procedures for determining the awardees of the Most Outstanding Cooperatives award. It describes a multi-step process where cooperatives are first nominated, then documents are evaluated at the local and national level. Top cooperatives are selected in each category based on meeting minimum rating thresholds. Qualifying criteria for cooperatives include submitting required documents on time, achieving satisfactory audit ratings, being in good standing, and meeting net worth requirements. Extensive documentary requirements are also listed.
Outsourcing Procurement In The Public SectorJon Hansen
When the problems of weak institutional capacities, high costs, delays, and high integrity risks are systemic in a government, outsourcing the procurement function may be a sound option to consider, whether as a short-term gap-filling measure or as a longer-term strategic approach. - ADB Report
Related Story Link: https://procureinsights.wordpress.com/2017/03/14/santa-clara-county-exec-jeffrey-smith-agrees-to-interview/
This presentation on savings from contract management in local government was given by Mark Wardman at the Society of Procurement Officers conference on 11 November 2013 in London. The presentation is based on the report ‘Savings from contract management', published by the Local Government Association, which was launched at this conference.
Tra's position statement on tariff transparency guidelinestraoman
The document outlines TRA's position on a proposed tariff transparency code for telecommunications licensees in Oman. Some key points:
- The code aims to ensure accurate, up-to-date and easily understandable tariff information is available to consumers to compare options.
- Stakeholders like Omantel and Friendi provided feedback, with Friendi questioning the need for additional regulation and suggesting improvements to wholesale regulation would be more beneficial.
- TRA responded that the code does not impose new requirements but consolidates existing guidelines. It aims to increase transparency and consumer awareness in Oman's developing market. TRA may reconsider retail regulation as market conditions change.
- Some stakeholders felt certain provisions like "compar
The document provides an overview of balance sheets, including their purposes, elements, and reporting classifications. Some key points:
1) A balance sheet summarizes a company's financial position by reporting assets, liabilities, and equity as of a specific date based on the basic accounting equation of assets equaling liabilities plus equity.
2) It helps users assess the company's liquidity, financial flexibility, operating capability, and income-producing performance.
3) Elements recognized in the balance sheet must meet certain criteria and be measurable, relevant, and reliable. Major elements are assets, liabilities, and equity.
4) Assets and liabilities are generally measured using historical cost, but some may use
Fund's presentation at FinanceEstonia Forum 2013Terje Pällo
The document discusses the achievements and plans of the Fund Administration working group in Estonia. It summarizes that in the past year they improved the legislative environment through EU regulation implementation and increased competitiveness. Plans for next year include finalizing a limited partnership structure analysis, participating in new investment fund legislation, and promoting Estonia's fund industry in Finland and Sweden. The 5-year goal is to increase Estonia's asset servicing business and win an outsourcing contract from an international fund manager, with a long term goal of administering 10 billion euros of assets under management.
Framework to monitor and evaluate e gp systems in india (v3.5)ramana01
This World Bank Working Paper titled "Assessment framework to monitor and evaluate e-government procurement systems in India" is prepared based on findings from assessment of 21 e-Government Procurement (e-GP) installations in India.
Assessment framework to monitor and evaluate e-government procurement systems in India (English)
ABSTRACT
This working paper elaborates on an assessment framework to monitor and evaluate e-government procurement systems in India. This is relevant due to the fact that many government agencies have sought to extend use of e-tendering system implemented in their organization to handle procurement in World Bank funded projects. The World Bank has developed a procedure to assess e-tendering systems for compliance to certain guidelines laid down by Multilateral Development Banks. The World Bank prefers to work with the Government of India in development of a robust mechanism for assessment of e-tendering systems instead of independently assessing e-tendering systems as has been done till date. The Government of India has already established a set-up under Standardization, Quality and Testing Certification (STQC) for assessment of e-procurement systems. From its assessment experience, the World Bank has found that the e-procurement applications deployed in many of the e-procurement installations assessed by the Bank were STQC certified, yet there were several issues with the e-procurement systems. A new concept model for assessment of e-procurement systems is proposed herein as an evolved version of the existing STQCs guideline to address the critical issues identified and the improvements suggested to the STQCs guideline. The assessment framework explained in this report could also be used as a vehicle to implement policy in other federated e-governance systems such as e-District and State Data Center (SDC). Therefore, the assessment framework concept explained herein has wider application in implementation of e-governance policy.
The Global Financial Crisis triggered a worldwide review of audit policies. Regulators in Europe, the UK, and US proposed major reforms to audit practices like mandatory firm rotation and prohibiting non-audit services. Responses to the proposals were mixed, with some arguing they could improve audit quality and independence while others felt they may increase costs and reduce audit quality. New Zealand is taking a wait-and-see approach and focusing on recent licensing reforms while international standards continue to develop.
Investigating results based financing as a tool for strategic purchasing _ Co...ReBUILD for Resilience
Presentation given by Maria Paula Bertone at a Satellite session of the 5th Global Symposium on Health Systems Reseach, on "Payment for Performance, how, why, where and what? Learning from research across income settings. Tuesday 9th October 2018.
The document describes a questionnaire conducted to understand audience preferences for crime thriller films. It asked 10 people (5 male, 5 female) questions about gender, age, favorite film genres and crime thriller films, what makes a good crime thriller, common filming locations and shots, and aspects that interest viewers and keep them watching crime thrillers. The results will help the group design an engaging opening sequence that meets audience expectations for the genre.
The document describes the results of a questionnaire conducted to inform the planning of a crime thriller film. The questionnaire was completed by 10 people, consisting of 5 males and 5 females, and included questions about demographics, favorite film genres and crime thriller films, elements that make crime thrillers appealing, expected camera shots and angles, and factors that sustain interest in the genre. The goals of the questionnaire were to understand audience preferences and expectations to help guide the creation of an engaging opening sequence and film.
Волощук О.В. керівник зразкового колективу "Юність"Іван Назарчук
Портфоліо керівника зразкового колективу "Юність"
Волощук О.В.
Самодіяльний драматичний колектив був створений у 2003 році. Прем’єрною виставою була постановка інсценізованої п’єси-казки "Коза-дереза”. З цієї вистави й почався творчий шлях самодіяль-ного дитячого колективу. Перші учасники колективу: Віталія Боднар, Галина Мельничук, Юрій Вішован, Марина Горпенко, Роман Пасійчук, Павло Жигуц, Наталія Вішован, Сергій Охват, Антоніна Сметанюк, Інна Савляк.
William Wordsworth was a renowned English poet born in 1770 in Cockermouth, Cumberland. He attended Hawkshead Grammar School and St. John's College, Cambridge. Wordsworth's early works included Descriptive Sketches and Lyrical Ballads, and he is known for his philosophical poems about nature, man, and society. Throughout his career he worked on an autobiographical poem called The Prelude, which was published after his death in 1850. Wordsworth received honorary degrees from the universities of Durham and Oxford in recognition of his literary achievements as one of the founders of English romantic poetry.
The document describes a questionnaire conducted to understand audience preferences for crime thriller films. It asked 10 people (5 male, 5 female) questions about gender, age, favorite film genres and crime thriller films, what makes a good crime thriller, common filming locations and shots, and aspects that interest viewers and keep them watching crime thrillers. The results will help the group design an engaging opening sequence that meets audience expectations for the genre.
Percy Bysshe Shelley was an English Romantic poet born in 1792 in Broadbridge Heath, England. He attended Syon House Academy and Eton College before studying at University College Oxford. Some of his most famous works include Ode to the West Wind, The Masque of Anarchy, Queen Mab, and Alastor. He was married twice, first to Harriet Westbrook and later to Mary Shelley, author of Frankenstein. Shelley drowned at sea in 1822 at the age of 30.
This document discusses whiplash injuries and Volvo's research on whiplash protection. It describes whiplash as a neck injury caused by sudden back-and-forth head movement during rear-end collisions. Volvo developed the WHIPS seat system to reduce whiplash injuries through controlled rearward motion of the seatback in two phases. Testing showed the WHIPS seat reduced neck acceleration compared to conventional seats in rear-end impacts. The WHIPS seat is designed to activate at low to moderate impact speeds where many whiplash injuries occur.
This document discusses the uses and benefits of studies and learning. It states that studies can be used for delight, ornamentation, and ability. Studies perfect nature and are perfected by experience. While studies teach their own uses, the wisest men use observation to gain wisdom beyond just studies. The document recommends reading to weigh and consider, rather than to contradict or take at face value. It also suggests that certain studies and exercises can help strengthen weaknesses of the mind, just as physical exercises help strengthen weaknesses of the body.
The document discusses various concepts related to translation and subtitling. It defines linguistic equivalence, paradigmatic equivalence, stylistic equivalence, and textual equivalence in translation. It also defines linguistic and cultural untranslatability. Intralingual subtitling deals with subtitles in the same language, while interlingual subtitling refers to subtitles changing languages. Key constraints in subtitling include synchronization, reading speed, literacy, visuals, frame changes, and medium. Legibility and readability are also important. Subtitles can be centered or left-aligned. Translation requires consideration of readability, space, time on screen, and other limitations. Reduction and simplification techniques include using fewer words, simplifying syntax, and
John Keats was an English Romantic poet born in 1795 in London. He was orphaned at a young age and decided to pursue a career in poetry rather than practicing as an apothecary. His early works received harsh criticism from literary magazines. In 1820, he published his third volume of poetry containing some of his most famous works like "Ode on a Grecian Urn" and "Ode to a Nightingale". Keats died in Rome in 1821 at the age of 25.
John Milton was an English poet, historian, and political writer born in London in 1608. He studied at St. Paul's School and Christ's College, Cambridge, where he took his M.A. in 1632. Milton wrote numerous poetry and prose works reflecting his passion for freedom and political views, including Paradise Lost, Paradise Regained, and Samson Agonistes. Considered his masterpiece, Paradise Lost chronicles the biblical story of Adam and Eve's temptation and expulsion from the Garden of Eden. Milton dictated the epic poem while blind in his later years. He died in London in 1674 at the age of 65.
English Literature: King arthur (final analysis) presentationjhaiusa
King Arthur learns of Mordred's betrayal and returns to England to confront him. A battle ensues where Sir Gawain is fatally wounded. King Arthur agrees to meet Mordred again in battle where Arthur is severely injured. He commands Sir Bedivere to throw his sword Excalibur into a lake, but Bedivere hesitates twice before obeying. Arthur is taken by three women onto a barge to the Island of Avalon to heal, telling Bedivere he is now free before departing.
Ey 2018-uk-corporate-governance-code-and-new-legislationKevin McCaffrey
The document summarizes key changes and requirements in the 2018 UK Corporate Governance Code and new related legislation. Some of the main points covered include:
- The 2018 Code places more emphasis on stakeholder engagement, workforce engagement, corporate culture and purpose.
- It introduces requirements around board diversity, succession planning, independence and overboarding.
- The role of the nomination committee is expanded around succession planning and reporting.
- New legislation requires companies to report on how they consider stakeholder interests, and include a CEO pay ratio and workforce engagement statement.
- Areas like chair tenure, independence criteria, and audit committee responsibilities saw some changes following consultation feedback.
- Listed companies will need to comply with
2016 CDA Gawad Parangal for Outstanding Primary Cooperativejo bitonio
The document outlines the procedures for determining the awardees of the Most Outstanding Cooperatives award. It describes a multi-step process where cooperatives are first nominated, then documents are evaluated at the local and national level. Top cooperatives are selected in each category based on meeting minimum rating thresholds. Qualifying criteria for cooperatives include submitting required documents on time, achieving satisfactory audit ratings, being in good standing, and meeting net worth requirements. Extensive documentary requirements are also listed.
Outsourcing Procurement In The Public SectorJon Hansen
When the problems of weak institutional capacities, high costs, delays, and high integrity risks are systemic in a government, outsourcing the procurement function may be a sound option to consider, whether as a short-term gap-filling measure or as a longer-term strategic approach. - ADB Report
Related Story Link: https://procureinsights.wordpress.com/2017/03/14/santa-clara-county-exec-jeffrey-smith-agrees-to-interview/
This presentation on savings from contract management in local government was given by Mark Wardman at the Society of Procurement Officers conference on 11 November 2013 in London. The presentation is based on the report ‘Savings from contract management', published by the Local Government Association, which was launched at this conference.
Tra's position statement on tariff transparency guidelinestraoman
The document outlines TRA's position on a proposed tariff transparency code for telecommunications licensees in Oman. Some key points:
- The code aims to ensure accurate, up-to-date and easily understandable tariff information is available to consumers to compare options.
- Stakeholders like Omantel and Friendi provided feedback, with Friendi questioning the need for additional regulation and suggesting improvements to wholesale regulation would be more beneficial.
- TRA responded that the code does not impose new requirements but consolidates existing guidelines. It aims to increase transparency and consumer awareness in Oman's developing market. TRA may reconsider retail regulation as market conditions change.
- Some stakeholders felt certain provisions like "compar
The document provides an overview of balance sheets, including their purposes, elements, and reporting classifications. Some key points:
1) A balance sheet summarizes a company's financial position by reporting assets, liabilities, and equity as of a specific date based on the basic accounting equation of assets equaling liabilities plus equity.
2) It helps users assess the company's liquidity, financial flexibility, operating capability, and income-producing performance.
3) Elements recognized in the balance sheet must meet certain criteria and be measurable, relevant, and reliable. Major elements are assets, liabilities, and equity.
4) Assets and liabilities are generally measured using historical cost, but some may use
Fund's presentation at FinanceEstonia Forum 2013Terje Pällo
The document discusses the achievements and plans of the Fund Administration working group in Estonia. It summarizes that in the past year they improved the legislative environment through EU regulation implementation and increased competitiveness. Plans for next year include finalizing a limited partnership structure analysis, participating in new investment fund legislation, and promoting Estonia's fund industry in Finland and Sweden. The 5-year goal is to increase Estonia's asset servicing business and win an outsourcing contract from an international fund manager, with a long term goal of administering 10 billion euros of assets under management.
Framework to monitor and evaluate e gp systems in india (v3.5)ramana01
This World Bank Working Paper titled "Assessment framework to monitor and evaluate e-government procurement systems in India" is prepared based on findings from assessment of 21 e-Government Procurement (e-GP) installations in India.
Assessment framework to monitor and evaluate e-government procurement systems in India (English)
ABSTRACT
This working paper elaborates on an assessment framework to monitor and evaluate e-government procurement systems in India. This is relevant due to the fact that many government agencies have sought to extend use of e-tendering system implemented in their organization to handle procurement in World Bank funded projects. The World Bank has developed a procedure to assess e-tendering systems for compliance to certain guidelines laid down by Multilateral Development Banks. The World Bank prefers to work with the Government of India in development of a robust mechanism for assessment of e-tendering systems instead of independently assessing e-tendering systems as has been done till date. The Government of India has already established a set-up under Standardization, Quality and Testing Certification (STQC) for assessment of e-procurement systems. From its assessment experience, the World Bank has found that the e-procurement applications deployed in many of the e-procurement installations assessed by the Bank were STQC certified, yet there were several issues with the e-procurement systems. A new concept model for assessment of e-procurement systems is proposed herein as an evolved version of the existing STQCs guideline to address the critical issues identified and the improvements suggested to the STQCs guideline. The assessment framework explained in this report could also be used as a vehicle to implement policy in other federated e-governance systems such as e-District and State Data Center (SDC). Therefore, the assessment framework concept explained herein has wider application in implementation of e-governance policy.
The Global Financial Crisis triggered a worldwide review of audit policies. Regulators in Europe, the UK, and US proposed major reforms to audit practices like mandatory firm rotation and prohibiting non-audit services. Responses to the proposals were mixed, with some arguing they could improve audit quality and independence while others felt they may increase costs and reduce audit quality. New Zealand is taking a wait-and-see approach and focusing on recent licensing reforms while international standards continue to develop.
Investigating results based financing as a tool for strategic purchasing _ Co...ReBUILD for Resilience
Presentation given by Maria Paula Bertone at a Satellite session of the 5th Global Symposium on Health Systems Reseach, on "Payment for Performance, how, why, where and what? Learning from research across income settings. Tuesday 9th October 2018.
The document describes a questionnaire conducted to understand audience preferences for crime thriller films. It asked 10 people (5 male, 5 female) questions about gender, age, favorite film genres and crime thriller films, what makes a good crime thriller, common filming locations and shots, and aspects that interest viewers and keep them watching crime thrillers. The results will help the group design an engaging opening sequence that meets audience expectations for the genre.
The document describes the results of a questionnaire conducted to inform the planning of a crime thriller film. The questionnaire was completed by 10 people, consisting of 5 males and 5 females, and included questions about demographics, favorite film genres and crime thriller films, elements that make crime thrillers appealing, expected camera shots and angles, and factors that sustain interest in the genre. The goals of the questionnaire were to understand audience preferences and expectations to help guide the creation of an engaging opening sequence and film.
Волощук О.В. керівник зразкового колективу "Юність"Іван Назарчук
Портфоліо керівника зразкового колективу "Юність"
Волощук О.В.
Самодіяльний драматичний колектив був створений у 2003 році. Прем’єрною виставою була постановка інсценізованої п’єси-казки "Коза-дереза”. З цієї вистави й почався творчий шлях самодіяль-ного дитячого колективу. Перші учасники колективу: Віталія Боднар, Галина Мельничук, Юрій Вішован, Марина Горпенко, Роман Пасійчук, Павло Жигуц, Наталія Вішован, Сергій Охват, Антоніна Сметанюк, Інна Савляк.
William Wordsworth was a renowned English poet born in 1770 in Cockermouth, Cumberland. He attended Hawkshead Grammar School and St. John's College, Cambridge. Wordsworth's early works included Descriptive Sketches and Lyrical Ballads, and he is known for his philosophical poems about nature, man, and society. Throughout his career he worked on an autobiographical poem called The Prelude, which was published after his death in 1850. Wordsworth received honorary degrees from the universities of Durham and Oxford in recognition of his literary achievements as one of the founders of English romantic poetry.
The document describes a questionnaire conducted to understand audience preferences for crime thriller films. It asked 10 people (5 male, 5 female) questions about gender, age, favorite film genres and crime thriller films, what makes a good crime thriller, common filming locations and shots, and aspects that interest viewers and keep them watching crime thrillers. The results will help the group design an engaging opening sequence that meets audience expectations for the genre.
Percy Bysshe Shelley was an English Romantic poet born in 1792 in Broadbridge Heath, England. He attended Syon House Academy and Eton College before studying at University College Oxford. Some of his most famous works include Ode to the West Wind, The Masque of Anarchy, Queen Mab, and Alastor. He was married twice, first to Harriet Westbrook and later to Mary Shelley, author of Frankenstein. Shelley drowned at sea in 1822 at the age of 30.
This document discusses whiplash injuries and Volvo's research on whiplash protection. It describes whiplash as a neck injury caused by sudden back-and-forth head movement during rear-end collisions. Volvo developed the WHIPS seat system to reduce whiplash injuries through controlled rearward motion of the seatback in two phases. Testing showed the WHIPS seat reduced neck acceleration compared to conventional seats in rear-end impacts. The WHIPS seat is designed to activate at low to moderate impact speeds where many whiplash injuries occur.
This document discusses the uses and benefits of studies and learning. It states that studies can be used for delight, ornamentation, and ability. Studies perfect nature and are perfected by experience. While studies teach their own uses, the wisest men use observation to gain wisdom beyond just studies. The document recommends reading to weigh and consider, rather than to contradict or take at face value. It also suggests that certain studies and exercises can help strengthen weaknesses of the mind, just as physical exercises help strengthen weaknesses of the body.
The document discusses various concepts related to translation and subtitling. It defines linguistic equivalence, paradigmatic equivalence, stylistic equivalence, and textual equivalence in translation. It also defines linguistic and cultural untranslatability. Intralingual subtitling deals with subtitles in the same language, while interlingual subtitling refers to subtitles changing languages. Key constraints in subtitling include synchronization, reading speed, literacy, visuals, frame changes, and medium. Legibility and readability are also important. Subtitles can be centered or left-aligned. Translation requires consideration of readability, space, time on screen, and other limitations. Reduction and simplification techniques include using fewer words, simplifying syntax, and
John Keats was an English Romantic poet born in 1795 in London. He was orphaned at a young age and decided to pursue a career in poetry rather than practicing as an apothecary. His early works received harsh criticism from literary magazines. In 1820, he published his third volume of poetry containing some of his most famous works like "Ode on a Grecian Urn" and "Ode to a Nightingale". Keats died in Rome in 1821 at the age of 25.
John Milton was an English poet, historian, and political writer born in London in 1608. He studied at St. Paul's School and Christ's College, Cambridge, where he took his M.A. in 1632. Milton wrote numerous poetry and prose works reflecting his passion for freedom and political views, including Paradise Lost, Paradise Regained, and Samson Agonistes. Considered his masterpiece, Paradise Lost chronicles the biblical story of Adam and Eve's temptation and expulsion from the Garden of Eden. Milton dictated the epic poem while blind in his later years. He died in London in 1674 at the age of 65.
English Literature: King arthur (final analysis) presentationjhaiusa
King Arthur learns of Mordred's betrayal and returns to England to confront him. A battle ensues where Sir Gawain is fatally wounded. King Arthur agrees to meet Mordred again in battle where Arthur is severely injured. He commands Sir Bedivere to throw his sword Excalibur into a lake, but Bedivere hesitates twice before obeying. Arthur is taken by three women onto a barge to the Island of Avalon to heal, telling Bedivere he is now free before departing.
- The speaker, an African man, is looking to rent a room from a landlady over the phone. When asked about his race, the conversation takes an uncomfortable turn as the landlady asks "how dark" he is and whether he is "light or very dark." The speaker tries to deflect by comparing his skin tone to types of chocolate. Frustrated by her lack of understanding, he humorously describes different parts of his body as different shades to show the complexity of race.
The report made 17 recommendations to strengthen Australia's corporate governance framework around executive pay. The first 15 recommendations aim to improve board accountability, effectiveness and independence in setting executive pay through measures like requiring remuneration committees to have independent chairs and members, prohibiting executives from sitting on remuneration committees, and giving shareholders a non-binding vote on pay practices. The report concluded that Australia's system is sound but could be improved with greater transparency and accountability.
20151022 PPI Comparison of DC pensions regulatorsSarah Luheshi
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Similar to EY Point of View on EBA Consultation (20)
1. Human Capital
Reward Advisory
EBA consults on updated remuneration
guidelines
On 4 March 2015, the European Banking Authority (EBA) published a Consultation Paper
EBA/CP/2015/03 providing updated guidelines on sound remuneration policies. It is intended that
the new guidelines, once finalized, will apply from 1 January 2016, when the current guidelines
published in 2010 by the EBA’s predecessor, the Committee of European Banking Supervisors
(CEBS), will be repealed.
The proposed guidelines are significant and contain a number of key changes in response to
regulatory developments and the industry’s response to these since 2010. Some of the proposals
will have a significant impact on firms beyond those regulated under the Capital Requirements
Directive (CRD), and therefore all regulated institutions should be encouraged to respond to the
consultation process.
Headline Potential impact
Stricter approach to
proportionality
Increase in number of firms and individuals subject to the more onerous
remuneration requirements of CRD
Different sectorial
remuneration requirements in
a group context
Uneven playing field for captive versus non-captive asset managers
Material Risk Taker (MRT)
Identification Process
Enhanced governance, documentation and disclosure requirements
The use of instruments to
deliver variable remuneration
Firms that currently use share linked instruments rather than shares will need to
have a clear rationale for taking this approach. Firms should be prepared to
articulate why other non-share based instruments such as bail-in bonds are not
being used
Categories of remuneration
and role-based allowances
• Detailed guidance on allocation of remuneration costs, which may increase the
compliance burden.
• Permanent increase in fixed costs and application to a wider population with
respect to role-based allowances
Broad and all-encompassing
circumvention guidance
Traditional arrangements aligned to investor and customer interests (e.g., co-
investment and carried interest structures) may inadvertently be affected
Increased prescription,
governance and supervision
There are a number of other proposed guidelines which will increase the
compliance burden on firms, including the need for enhanced systems and
processes
2. EBA consults on updated remuneration guidelines 2
Background
The CEBS guidelines were published in 2010. The updates contained in the draft EBA guidelines
are particularly broad in scope as they are intended to cover the following key changes since
2010:
• Updates to CRD
• Bonus caps
• Stricter rules on the application of malus and clawback
• More granular disclosure requirements
• Regulatory Technical Standards (RTS)
• MRT identification
• Instruments that can be used for variable remuneration
• Other developments in the way remuneration policies and practices have evolved, including
experiences from regulatory supervision
• Approach to proportionality
• Definitions of fixed and variable remuneration
• The use of allowances
• The impact of sectorial remuneration principles following the publication of the
Alternative Investment Fund Managers Directive (AIFMD) and Undertakings for Collective
Investment in Transferable Securities V (UCITS V)
Scope
The draft guidelines apply to competent authorities (national regulators) and credit institutions,
including branches of credit institutions whose head offices are outside the EU and who are subject
to CRD (credit institutions and investment firms). They apply on an individual, sub-consolidated
and consolidated basis, including subsidiaries that are not themselves subject to CRD.
It is important for firms that are not subject to CRD to be aware of these proposed guidelines
and the dialogues now taking place, as they are likely to have a bearing on future remuneration
requirements under AIFMD and UCITS V.
Key points
Proportionality
• The current CEBS guidelines allow for some of the more onerous remuneration provisions of
CRD (deferral, payment in instruments, malus and clawback provisions) to be disapplied on the
grounds of proportionality. The EBA does not believe that this disapplication is permitted under
the terms of CRD, and has received the European Commission (EC)’s interpretation indicating
that the remuneration requirements need to be applied to all institutions without exception or
exemption.
• The draft guidelines also appear to suggest that the bonus cap provisions cannot be disapplied
on the grounds of proportionality if someone has been identified as an MRT.
Such an interpretation would have a significant impact on both the number of firms and
individuals subject to the more onerous remuneration requirements outlined above.
3. EBA consults on updated remuneration guidelines 3
• The EBA is asking for responses from the industry to support the advice they are intending to
provide to the EC, suggesting legislative amendments for a broader application of the
proportionality principle.
A number of firms impacted by AIFMD have used proportionality arguments to disapply the
more onerous aspects of the remuneration requirements, as currently supported by the
European Securities and Markets Authority (ESMA) guidelines on remuneration. These firms
should monitor the consultation closely and be aware of how proportionality will work for CRD
firms as it is likely to indicate how other regulations will develop.
Sectorial remuneration principles
• The draft guidelines recognize the impact of current sectorial remuneration guidelines for
AIFMD firms and the fact that ESMA is mandated to issue remuneration guidelines under
UCITS V.
• Currently, there is uncertainty on how the remuneration provisions of the various Directives
operate within a group context where one firm (and its staff) could be subject to multiple
regulatory requirements depending upon the nature of its business and the Directives it needs
to comply with.
• The draft guidelines suggest that the strictest set of requirements will apply, taking account of
the rules that the group is subject to and then adding on any specific sectorial requirements.
• There is concern from firms that are not currently subject to CRD, that some of the stricter
remuneration requirements of CRD could spread to their firms to address consistency and
uneven playing field arguments.
Clarification from ESMA would be welcome, to the extent it adds more certainty. Firms should
ensure they respond to the consultation process to ensure their views and the impact on the
industry are fully recognized.
Concerns around an uneven playing field will resurface where; for example, those individuals
working for a captive asset manager are subject to the bonus cap rules, while those who work
for stand-alone non-CRD firms are not.
MRT identification process
• The draft guidelines make it clear that, in a group context, the identification of MRTs needs to
take place at a consolidated and sub-consolidated level and within subsidiaries that may
themselves not be subject to CRD.
• Firms will be required to use additional criteria, beyond those in the RTS, in their self-
assessments to ensure a complete identification of all MRTs.
• The draft guidelines also emphasize the need for a documented and transparent self-
assessment process that is periodically updated. The self-assessment also needs to be updated
throughout the year with at least the results of the qualitative criteria of the RTS.
• The importance of the MRT identification process is highlighted by the degree of governance
and disclosure suggested by the guidelines and the active involvement of the remuneration
committee, where one is established.
4. EBA consults on updated remuneration guidelines 4
Firms will need to ensure that they have the requisite process, policies and governance in place
to identify their MRTs on an ongoing basis and to seek any regulatory approvals to exclude staff
who meet the quantitative thresholds.
• The guidelines attempt to provide further clarity on the identification process in a group
context, but would seem to imply that an individual who is in the management body of a
significant subsidiary could be excluded (provided all other criteria are also met), if he or she is
not in the management body of the parent institution.
• The draft guidelines also suggest that those subsidiaries that are subject to CRD need to carry
out their own solo-level identification process, unless they are small and less complex. This
may have a number of practical implications depending on the nature of the organization
and how it is structured and managed.
Instruments that can be used for variable remuneration
• The draft guidelines prioritize the use of instruments, such as bail-in bonds and shares over
share-linked instruments. They indicate that other instruments (e.g., instruments subject to
bail-in) should be used where available.
• As part of their consultation process, the EBA has requested information from listed firms on
the impact of using shares and, where possible, other instruments set out in the RTS. Given
the current limited use of other such instruments, the rationale for this will need to be
clearly articulated.
• It would appear that the draft guidelines would prohibit the payment of dividends and interest
on deferred elements of variable remuneration, even if they are paid after the end of the
deferral period. This is contrary to the current CEBS guidelines and there would appear to be
no basis for this restriction. These payments are common practice, and therefore clarity
should be sought through the consultation process on the rationale for this exclusion.
Categories of remuneration and role-based allowances
Given the importance of the bonus cap ratio, the EBA has sought to clarify what should be
included as part of remuneration and how various remuneration elements should be categorized
between fixed and variable remuneration.
Firms will need to review the guidance given and ensure that their processes capture all aspects
of remuneration to include in their calculations and reporting. For instance, the treatment of
expatriate compensation and benefits previously varied across the industry.
The proposed guidance on Long Term Incentive Plans and when they should be included in
variable remuneration seem at odds with other parts of the requirements and will require
clarification through the consultation process.
The circumstances in which guaranteed bonus payments can be made remains restricted. But it
is interesting to note that the draft guidelines indicate that, in certain circumstances, these
awards do not need to be included in bonus cap calculations and also that they can be paid
entirely in cash.
5. EBA consults on updated remuneration guidelines 5
The draft guidance on allowances is consistent with the EBA opinion issued in October 2014.
Firms should therefore review this guidance in relation to their own allowances and consider any
necessary changes, and their timings, given that this is likely to be an area of focus. In
particular, those who have used allowances only for those individuals who are identified as
MRTs and are subject to the bonus cap, or those who have used instruments to deliver the
allowances, may need to reconsider their approach.
Circumvention
The draft guidelines contain more granular information on what constitutes circumvention. Under
these proposals, firms will need to review these criteria against their own arrangements and pay
special attention to any co-investment and carried interest type arrangements to ensure that they
are in line with regulatory expectations.
It would appear that carried interest structures, whereby staff receive a return solely based on
their investment in the vehicle can still be excluded from the definition of remuneration. If the
return to staff is not solely a return on their investment it should be included as variable
remuneration. For staff receiving such remuneration arrangements that are subject to the
bonus cap, plans will need to be reviewed and potentially changed. This may be in conflict with
investor interests and requirements.
Disclosure
The draft guidelines call for enhanced disclosure in line with the requirements of the Capital
Requirements Regulation. Key new items that need to be disclosed are:
• Explanations of any differences between the remuneration policy that is applicable at a group
level and what is applied at other levels in the organization.
• Details of how the MRT identification process has been applied, including the additional criteria
used in the self-assessment process.
• How variable remuneration reacts to performance changes in the institution.
• The most important design characteristics of the remuneration system; these have now been
prescribed under eight separate headings in the draft guidelines.
• Granular disclosure on the ratios between fixed and variable remuneration.
6. EBA consults on updated remuneration guidelines 6
Other points of interest
There are a number of other points in the draft guidelines that give an indication of the EBA’s
thinking and the trend toward greater governance and regulatory supervision. Firms may wish
to review these to ensure that current policies, processes and governance arrangements are in
line with the currently published regulatory thinking.
• There is more focus on all risk types when aligning the remuneration policy with the firm’s risk
strategy and appetite.
• There is an increased focus on business unit involvement in the development of the
remuneration policy.
• The need for a separate remuneration committee for all significant institutions within a group.
However, if the subsidiary is subject to specific sectorial legislation, then it is the sectorial
legislation which will determine the need for a separate remuneration committee.
• The proposed requirement for the remuneration committee to review a number of possible
scenarios to test how the remuneration policies and practices react to external and internal
events and back-test the criteria used for determining the award and the ex-ante risk
adjustment based on the actual risk outcomes is now more specific. In addition, there now
appears to be a requirement to provide significant detail on how variable remuneration reacts
to performance changes. This transparency appears to be aimed at providing staff with clear
direction on the circumstances under which remuneration could be significantly reduced (to
zero) due to performance or conduct issues. Close cooperation between different internal
functions (e.g., HR, finance, risk and strategic planning) will be required to design the
parameters for the reward stress testing against different performance criteria and conduct
failures.
• The EBA has stated that they may choose to consult further on the remuneration requirements
applicable to staff whose conduct could affect, directly or indirectly, consumers. Some national
regulators have already increased the scrutiny on such remuneration arrangements and we
anticipate that this will be an ongoing trend.
• The definition of staff has been expanded to include any other person acting on behalf of the
institution and its subsidiaries. Firms will need to ensure their internal processes capture
certain contractors and clarification will be required through the consultation process on the
extent to which others (e.g., advisors) acting on behalf of the firm need to be captured.
• The draft guidelines mention staff behavior in the context of the remuneration policy, which is
in line with current focus of a number of regulators on the behavioral impact of remuneration
design. The compliance function would also be tasked with assessing the impact of the
remuneration policy on risk culture.
• The need for an annual independent review of remuneration policies is emphasized further
together with guidance on how (including documentation requirements) and who should
conduct these reviews in different types of organization.
• Further emphasis is placed on the need for documentation underpinning reward governance,
policy and process, including the decision-making process.
• A framework for role descriptions is identified as a key component of the remuneration policy.
While a fundamental part of any remuneration framework, this had not been specifically
referenced by the current CEBS guidelines.
7. EBA consults on updated remuneration guidelines 7
• Firms may now need to demonstrate that the remuneration arrangements for control functions
are distinct from other roles by evidencing a higher fixed to variable ratio compared to other
roles in the business.
• Given the bonus cap limits, firms will now need to document their policy on the ratio between
fixed and variable remuneration in a far more granular fashion.
Regulatory sanctions have been added to the criteria that need to be reviewed in the ex-post risk
adjustment malus and clawback process.
Next steps
The EBA is consulting on these guidelines for three months and the consultation period will end on
4 June 2015.
It is intended that the new guidelines, once finalized, will be applicable from 1 January 2016.
EY will be responding to this consultation paper and we would be happy to discuss any issues
you may have, from your institution’s perspective, when formulating our response.