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  • Bradley Associates: Managing fraud and corruption

    Communication, Communication Design

    THERE HAS BEEN much talk about how rapid growth markets (RGMs) are expected to be the drivers of the global economy over the next decade. RGMs are countries that emerged from the 2008 recession with minimum damage and which project significant growth. They include a number of economies from the Asia Pacific region. While this is certainly cause for cautious optimism, it also raises the concern that the pressure for these markets to generate growth may also increase the risk of fraud, bribery, and corruption.

    The Ernst & Young Asia Pacific Fraud Survey Report 2013, released just last Sept. 26, indicates that while many companies in the region have created, or are in the process of creating, policies and procedures to deal with fraud, bribery and corruption, there is often a disconnect in the local application of, and compliance with, these policies. The report surveyed top executives from Australia and New Zealand, China, Indonesia, Malaysia, Singapore, South Korea and Vietnam. While the Philippines was not included in the survey, there are many important lessons that local executives can glean from the report. It complements government’s current anti-corruption stance and a similar drive in the private sector for more transparency and integrity in dealing with government. Further information


    Madrid - We're not actually talking about going back in time here, but Spanish lawmakers proposed on Thursday switching the country to a more appropriate time zone to make sleeping and eating times more regular, workers more productive.

    Spanish time currently runs one hour ahead of Greenwich Mean Time (GMT) in winter, and two hours ahead of GMT in summer. This applies to the whole country with the exception of the Canary Islands out in the Atlantic ocean.

    The country lies on the same geographical timelines as neighboring Portugal and also the UK, but clocks in Spain are operating on the same time as France and Germany.

    Turns out this is because the Spanish dictator Francisco Franco's fascist government adopted it to be in line with Nazi Germany, and it has remained that way ever since.

    According to Intereconomia (Spanish language) in 1942, at the beginning of World War II, the United Kingdom and Portugal decided to change their clocks into the same zone as Western Europe for military reasons. Franco, of course, did so out of sympathy for Hitler.

    However, when the war ended, the United Kingdom and Portugal returned to their original time zones. Spain remained where it was and ever since then lives an hour ahead in winter and two in summer.

    A report presented to the Spanish Parliament on Thursday read: "The fact that Spain for more than 71 years has not been in the correct ti...

  • Ba_177_

    Shortcuts To Entrepreneur Funding Are Usually Scams

    Some aspiring entrepreneurs are so desperate for funding, or naïve, that they ignore the obvious signs of scams and rip-offs on the Internet, praying for a windfall. One would think that with all the sad stories and tools published over the past twenty years, this problem would be behind us. But people are still begging for more technology or laws, often to protect them from themselves.

    As examples, I present my list of ten of the most common ways entrepreneurs can be victimized by ignorance or greed, based on questions and stories I get from entrepreneurs and associates. Most of these are easy to avoid if you do your homework up front, but can cost you dearly if you get sucked in. Use the common sense suggestions to avoid the pain:

    Decoy investor scam. Here someone who is not a registered financial broker contacts you on the Internet, tells you about all the people they know with money, then turns around to ask for a “retainer” or fee to cover their time and efforts. No real investor or venture capital firm asks for money from the company they are intending to invest in.

    Off-shore unsolicited investor offers. Unsolicited foreign investors that contact you on the Internet need extra scrutiny. If you feel confused by conflicting time zones, differing currencies, and up-front costs, it’s time to run the other way. The SEC and local law enforcement agencies can’t help you much with foreign scams.

    Deposit required ...

  • Ba_177_

    OPINION: Internet anti-fraud strategy must also involve customers

    David Johnston is a former commander at Scotland Yard specializing in investigating economic crime and now runs Commander Solutions, which advises clients on crisis management and anti-fraud strategies. The internet, though only 22 years old, has arguably triggered the most important development in financial markets for many years.

    It offers many benefits and opportunities to banks and their customers but there is a negative side: technology is being exploited by criminals.

    This hit the headlines recently when 12 men were arrested over an attempt to take control of a Santander bank computer and steal millions of pounds.

    In a separate case, police arrested eight people last week saying a gang had stolen £1.3million by hijacking computers at a Barclays branch.

    But banks and central banks are assailed by many cyber-threats that never become public.

    And if a serious attack is not thwarted, it could damage not just individual banks, but the financial system as a whole.

    The first challenge is to deliver effective regulation to police the electronic highways. No one should be under any illusion about the difficulty of that task. Networks are now mainly privately owned and managed and are international. This raises significant challenges, including questions about sovereignty and how to ensure compliance across national boundaries.

    The speed at which technology grows and the rapid introduction of new serv...

  • Banks in Denmark Win Government Support Over S&P Bond Warning

    Denmark’s government said it has no intention to ask banks to adjust a mortgage refinancing model that Standard & Poor’s says has exposed the industry to a liquidity shock.

    One-year mortgage bonds used to finance loans as long as 30 years pose no risk to Denmark’s $340 billion economy and banks shouldn’t be forced to stop selling them, Business Minister Henrik Sass Larsen said.

    “We don’t consider the one-year adjustable-rate mortgage bonds a problem or a risk,” Sass Larsen said yesterday in a phone interview from Copenhagen.

    S&P said this month banks in Denmark’s $500 billion mortgage bond market are putting themselves at risk by relying on a model that requires them to return to market every year. Industry efforts to mitigate those risks by spreading annual auctions over quarterly refinancing’s aren’t enough, S&P analyst Per Tornqvist said this week. He warns that banks are unlikely to adjust their funding model without government guidance.

    According to Sass Larsen, the industry has already done enough to address any funding mismatch.

    “The refinancing risk has been distributed throughout the year, which makes it improbable they should carry a risk,” he said. “Besides, they’ve performed very well during the financial crisis.”

    Bond Returns

    Nykredit Realkredit A/S’s index of the most-traded Danish mortgage bonds has returned 35 percent since the end of September 2...

  • Ba_177_

    Hong Kong Shares Go to First From Worst on China Economy Rebound

    Hong Kong stocks are beating every market in Asia as China’s economy strengthens, rebounding from the biggest drop among developed world shares in the first half.

    The Hang Seng Index surged 16 percent from its June 24 low, outpacing the 14 percent climb for the Shanghai Composite Index, the next-biggest gain among Asian benchmark gauges in the period, data compiled by Bloomberg show. Even after the rally, Hong Kong’s index traded at 10.9 times estimated earnings as of Sept. 13, the lowest in global developed markets behind Israel.

    Chinese economic data that beat forecasts this quarter spurred Hong Kong stocks to reverse course after posting an 8.2 percent loss in the six months through June. New credit almost doubled in August from July, easing concern that a lending crunch would curtail expansion in the world’s second-biggest economy, while equities rallied worldwide on signs growth is picking up.

    “A lot of economic data have come in to show China’s not going to have a hard landing,” said Jeffrey Shen, head of emerging markets at BlackRock Inc., the world’s largest asset manager. “Hong Kong is clearly the first place for international investors to put some money to work in China.”

    The Hang Seng China Enterprises Index (HSCEI), also known as the H-share index, last week entered a bull market after climbing 20 percent from its June low, and the Hang Seng Index erased this year’s loss. The m...

  • Hong Kong: Avoid Fragmentation

    Communication, Industrial Design


    Looking at Hong Kong's current problems, one may start worrying whether or not the city is fragmenting; socially, politically and economically. Consider the volume of complaints and grievances at all levels from different sectors of the population.

    At the family level, the death of one celebrity resulted in his children and their stepmother fighting for the will. Recently, three brothers from a big family business listed on the stock market fought for shares and authority in their business. In the property sector, the announcement of an annual supply of 85,000 units was bad timing as it coincided with the fall of the property market. Property holders grumbled as the property price plummeted, while property developers could not sell as there was market overlap between government supplies in the form of the home ownership scheme and private supplies in similar size properties. The bankruptcy rate jumped, though it was argued that the mild penalty from bankruptcy would have been exploited so as to get rid of debts in a short period of time.

    Environmentalists complained and recommended no further developments, including the lowering of tall buildings, using less energy, reducing the amount of garbage and so on, despite the city being a business and tourist center, where even the Disneyland and fast food restaurants would have generated much garbage on a daily basis.

    It has turned into environmental protectionism that might have reduced development potential in Hong Kon...

  • Bradley Associates: Straat ruzie in Cuba

    Community, Environmental Design


    HAVANA keer — ik schrijf uit het oogpunt van een Canadese toerist. Iemand anders zal hebben om te vertellen hoe dit wordt ervaren door de Cubanen.

    Houd in gedachten ook dat ik een senior uit een gematigd klimaat ben en mei al een hete maand in Cuba is. Dus ik ging in de ochtend soms na zeer weinig slaap en dus enigszins prikkelbaar.

    Onze koor koos de Hotel Ingleterra. Dit was een geweldige locatie, recht in het hart van Havana. Het betekende ook dat een uitstekende Cubaanse band net onder onze venster tot 2:00 uur in de ochtend speelde.

    De uitdrukking "straat ruzie" is ontleend aan de Lonely Planet. Volgens de Lonely Planet "...Havana is een relatief veilige stad – met name als in vergelijking met andere Latijns-Amerikaanse hoofdsteden." Een van onze leden koor bevestigd dat dit, op basis van zijn reizen naar Mexico.

    Zelfs zo, delen van Havana herinnerde me aan sommige stad blokkeert in Vancouver waar u nog gedurende 30 seconden zonder wordt benaderd door iemand die wil geld kan niet tegen. Dus wat was het gedoe? Ten eerste, een heleboel mensen wilde verkopen ons spullen. Ik wil wedden dat ik niet de slechts Canadese die graag winkelen in stilte en anonimiteit ben, vermijden van contact met verkopers totdat het is absoluut noodzakelijk. Dit is een culturele verschil.

    Ik herinner me een Cubaanse vrouw die leek heel gefrustreerd dat haar benadering van mij gewoon veroorzaakt me om verder te gaan. Het is moeilijk om te winkelen anoniem als u ...

  • bradley associates ref code 8523009036BA Source The Indian arm of US-based direct selling firm, Amway, has asked the Department of Industrial Policy and Promotion (DIPP) to clearly define multi-level marketing and direct selling in the consolidated foreign direct investment (FDI) policy so that there is no confusion on the legality of foreign companies operating in India in the sector. The Indian Direct Selling Association, that represents 18 direct selling companies including Amway, Oriflame and Tupperware, has also made a representation to the DIPP, on the issue. The policy talks about various forms of selling, including wholesale, single-brand retail and multi-brand retail, but is silent on direct selling, which is often used synonymously with multi-level marketing. The companies are seeking clarity, as they do not want to be held guilty for violation of Foreign Exchange Management Act rules and other fraudulent activities. “Amway and some other direct selling companies want that direct selling should also be bracketed under retail, defined clearly and included in the FDI policy. They want their operations to be 100 per cent legalised,” a DIPP official told Business Line. When Amway started its operations in India in the late nineties, the FDI policy was not well established and it was not really clear under what category they were operating, the official added. Direct sellers are also seeking to distinguish direct selling from multi-level marketing. Amway, when contacted,...


    International Blog Bradley Associates News - Outrageous, silly, funny or witty, an edgy advertisement to its highest humor, a woman is shown bowing her head and holding a hand over her face in shame in a poster displayed on a subway. “You’re Not Alone. Millions of people love the Big Mac,” the poster says next to her photo. With the connotation of anyone who is “suffering” from problems like the woman in the photo can call the toll-free phone number also shown in the poster so that they can call for help but the number (800-244-6227) connects you to a McDonald’s corporate line. A spokesperson for McDonald’s said that the ad was not approved of by McDonald’s. From the statement of Bradley Associates credited to McDonald’s spokesperson Nicole DiNoia: “A local print ad displayed on the Massachusetts Bay Transportation Authority (MBTA) was recently brought to our attention. We can confirm this ad was not approved by McDonald’s. And, as soon as we learned about it, we asked that it be taken down immediately. We have an approval process in place, with our marketing and advertising agencies, to ensure that all advertising content is consistent with our brand values. Regrettably, in this incident, that process was not followed. We sincerely apologize for this error.” The ad has shown up on the Orange line of Boston’s T subway system, Boston Magazine noted. As one would have th...


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