free rice December 4, 2007
Posted by Bradley in : Uncategorized , comments closedI just donated 500 grains of rice at free rice. Yesterday 252,053,160 grains were donated in total, and 6,025,068,330 grains have been donated since the game was started in October.
It’s not the most fun word game ever. The FAQ describes the benefits you get from “playing”:
Learning new vocabulary has tremendous benefits. It can help you:
* Formulate your ideas better
* Write better papers, emails and business letters
* Speak more precisely and persuasively
* Comprehend more of what you read
* Read faster because you comprehend better
* Get better grades in high school, college and graduate school
* Score higher on tests like the SAT, GRE, LSAT and GMAT
* Perform better at job interviews and conferences
* Sell yourself, your services, and your products better
* Be more effective and successful at your job
After you have done FreeRice for a couple of days, you may notice an odd phenomenon. Words that you have never consciously used before will begin to pop into your head while you are speaking or writing. You will feel yourself using and knowing more words.
activision-vivendi December 4, 2007
Posted by Bradley in : Uncategorized , comments closedActivision filed a number of documents with the SEC yesterday relating to the proposed merger, including an investor presentation and a letter to employees. In addition, Activision has established a website with information on the merger for employees.
Comments on the proposed merger at Raph Koster here and here.
online games news December 2, 2007
Posted by Bradley in : Uncategorized , comments closedActivision and Blizzard (WOW) are merging:
The combination of Activision and Vivendi Games, Activision Blizzard, will create the world’s largest, most profitable pure-play video game publisher with some of the most popular titles in the industry, including Guitar Hero®, Call of Duty®, Tony Hawk, World of Warcraft®, Starcraft® and Diablo®.
There will be a live webcast on Monday, December 3, 2007 at 8:30 a.m. ET, 2:30 p.m. Paris time, 1:30 p.m. London time. The live webcast can be accessed at www.vivendi.com and www.activision.com.
iosco technical committee on private equity November 29, 2007
Posted by Bradley in : Uncategorized , comments closedIOSCO has published a consultation report on private equity inviting comments by 20 February 2008. The report proposes that IOSCO should study conflicts management practices in private equity transactions and that the Joint Forum study leverage in private equity transactions.
subprime fallout: moving forward November 28, 2007
Posted by Bradley in : Uncategorized , comments closedFitch Ratings says (registration required):
Beginning in January 2008, Fitch U.S. RMBS rating process will incorporate a more extensive review of mortgage origination/acquisition practices, including a review of originator/conduit/issuer due diligence reports, and a sample of mortgage origination files. Additionally, Fitch is studying how a more robust system of representation and warranty repurchases could help to provide more stable RMBS performance.
Via Housing Wire.
fsa and financial firms' websites November 28, 2007
Posted by Bradley in : Uncategorized , comments closedToday’s report from the FSA on its review of website financial promotions states that:
75% of the websites reviewed were of an acceptable standard; however, 25% fell short of our financial promotions standards. This is partly because firms are not placing enough emphasis on the customer journey and general website design when placing key information. In some instances general website maintenance was also lacking, resulting in out-of-date or incorrect information being provided to consumers.
The FSA has also identified problems with sponsored links on websites.
regulatory line drawing November 27, 2007
Posted by Bradley in : Uncategorized , comments closedThe UK Government (Treasury and BERR) is consulting on the question of how to separate the functions of the OFT in respect of Consumer Credit and the functions of the FSA in relation to mortgages. The consultation responds to concerns identified by stakeholders:
Stakeholders have recently identified circumstances where some firms could potentially find themselves having to comply with both regimes simultaneously for certain types of transaction. This paper sets out the issues and the Government’s proposals for legislation to tackle these areas of potential dual regulation.
Before publishing the consultation document the Treasury and BERR discussed the issues with the Council of Mortgage Lenders, the FSA and the OFT (not apparently with any consumer groups, which raises issues about who gets to frame regulatory issues). Parts of the document are particularly technical and opaque:
In order to address these concerns the Government introduced legislation so as to disapply section 82(2) and section 82(3) wherever the modifying agreement was an RMC. In effect, this meant that the first agreement and the modifying agreement were treated as separate agreements for the purposes of the CCA. The RMC would be regulated only by the FSA and the first agreement would be subject to the CCA, where applicable. (footnote omitted)
innovation in advocacy November 27, 2007
Posted by Bradley in : Uncategorized , comments closedAnd a new initiative from the US Chamber of Commerce. This coming Friday a new series of talks begins, described as follows:
The advocacy world is constantly expanding, to stay ahead join us for the launch of the Innovative Advocacy Series. Hill staffers talk frankly about the advocacy campaigns that grab their attention, and which efforts they often disregard. Hear directly from the people you are trying to reach and find out what really influences a Congressional office from the people who work there.
It’s a snip at $225 for Friday’s event alone and $495 for the series. The series includes 4 events, one of which is on “Amassing a Grassroots Army to Engage in Election 2008”.
us financial regulation: competitiveness, principles… November 27, 2007
Posted by Bradley in : Uncategorized , comments closedThe deadline for comments on the Treasury’s Capital Markets Competitiveness Initiative was last Wednesday. A joint comment letter (links to additional separate comments follow) from the US Chamber of Commerce, SIFMA, Investment Company Institute, Business Roundtable, Financial Services Roundtable, and Financial Services Forum begins:
The undersigned represent the voices of the millions of small and large businesses and their investors across the country and around the world that rely on the U.S. capital markets to fuel their investment and growth activities. Together, we commend the U.S. Department of the Treasury (“Treasury”) on its request for comment on the regulatory structure associated with the financial services industry.
I’m not sure what basis these organizations have for claiming to represent the interests of investors, except the claim, made explicitly later in the letter, that:
Investor protection and prudential safety and soundness must remain essential mandates. At the same time, these must be appropriately balanced with the goals of promoting capital formation and remaining competitive in an increasingly global environment. Indeed, these two priorities are mutually supportive and, appropriately pursued, will serve one another to the benefit of all market participants.
The letter advocates streamlining of the regulatory structure, principles-based regulation, and “addressing the adverse effects of the litigation environment in the U.S.”.
law, finance and translation November 26, 2007
Posted by Bradley in : Uncategorized , comments closedIn the US, whatever an LLP is, it is not incorporated. So it is always striking to note, for example in reading the UK Department for Business, Enterprise and regulatory Reform (BERR) Consultation Document on the application of the Companies Act 2006 to LLPs, that British LLPs are incorporated.