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‘Juno’ Actor Elliot Page Comes Out as Trans in a Powerful…

first_imgEntertainment Industry‘Juno’ Actor Elliot Page Comes Out as Trans in a Powerful Letter to Friends and Fans“I feel lucky to be writing this. To be here. To have arrived at this place in my life,” he wroteBy Ian Spiegelman – December 1, 2020509ShareEmailFacebookTwitterPinterestReddItThe indie film star formerly known as Ellen Page has come out as transgender, non-binary Elliot Page, the actor announced via Instagram Tuesday.“Hi friends, I want to share with you that I am trans, my pronouns are he/they and my name is Elliot,” he wrote. “I feel lucky to be writing this. To be here. To have arrived at this place in my life.”Page—who started out as a child actor on Canada’s envelope-pushing sitcom Trailer Park Boys in 2001 before grabbing critics’ attention in 2005’s controversial Hard Candy and then earning an Oscar nomination for the teen pregnancy dramedy Juno in 2007—expressed his “overwhelming gratitude for the incredible people who have supported me along this journey.”“I can’t begin to express how remarkable it feels to finally love who I am enough to pursue my authentic self,” Page added. “I’ve been endlessly inspired by so many in the trans community. Thank you for your courage, your generosity and ceaselessly working to make this world a more inclusive and compassionate place. I will offer whatever support I can and continue to strive for a more loving and equal society.”Considering the violence and prejudice faced by the transgender community, Page asked his fans for patience. “My joy is real, but it is also fragile,” he explained. “The truth is, despite feeling profoundly happy right now and knowing how much privilege I carry, I am also scared. I am scared of the invasiveness, the hate, the ‘jokes’ and of violence.”Addressing “the political leaders who work to criminalize trans health care and deny our right to exist, Page pointed out that at least 40 transgender people have been murdered in 2020.“To all of those with a massive platform who continue to spew hostility towards the trans community: you have blood on your hands,” he wrote. “You unleash a fury of vile and demeaning rage that lands on the shoulders of the trans community, a community in which 40% of trans adults report attempting suicide. Enough is enough. You aren’t being ‘canceled,’ you are hurting people. I am one of those people and we won’t be silent in the face of your attacks.”Signing off on a positive note, Page told readers, “I love that I am trans. And I love that I am queer. And the more I hold myself close and fully embrace who I am, the more I dream, the more my heart grows and the more I thrive. To all the trans people who deal with harassment, self-loathing, abuse, and the threat of violence every day: I see you, I love you, and I will do everything I can to change this world for the better.”Page’s wife, Canadian dancer and choreographer Emma Portner, shared her partner’s happiness, but also asked supporters to let them take things in their own time.“I am so proud of @elliotpage,” Pornter wrote. “Trans, queer and non-binary people are a gift to this world. I also ask for patience & privacy but that you join me in the fervent support of trans life every single day. Elliot’s existence is a gift in and of itself. Shine on sweet E. Love you so much.”Stay on top of the latest in L.A. food and culture. Sign up for our newsletters today. TAGSElliot PageLGBTQPrevious articleA DTLA Gallery Reemerges After a Frightening Explosion and a Prolonged Pandemic ShutdownNext articleThe Best Places to Buy a Live Christmas Tree in L.A.Gwynedd Stuart RELATED ARTICLESMORE FROM AUTHORIn 1970, a Group of Gay Angelenos Plotted to Turn a Rural California County into a Gay UtopiaTrans During a Plague: The Pitfalls and Unexpected Positives of Pandemic Life‘Drag Is Literally for Everyone’: How Göttmik Is Making ‘Drag Race’ Historylast_img read more

Cold snaps cost the economy £2.5bn, says Cebr research on UK weather’s impact

first_img Show Comments ▼ Freezing temperatures are not just bad for your bones, but cost the UK billions of pounds in lost productivity and output having the most severe impact on the economy than any other type of weather.Just a single degree drop in the minimum average temperature costs the UK economy £2.5bn, and has a worse effect than even snow, flooding or heat waves. Periods of extreme cold weather have lowered quarterly GDP growth by 0.6 percentage points since 2005, according to research by the Centre for Economics and Business Research (Cebr) which looked at economic growth and weather over the last decade.Cold weather causes GDP to take a hit from lower output across more industries than other adverse weather conditions, as well as from lost productivity through poor conditions affecting transport and the number of people making it into work.A single degree rise in the minimum average temperature no only makes people feel a bit cosier, it nets the economy an extra £66m, as does each day of extra sunshine to the tune of £12m.For each day of additional frost, the economy loses £103m, while, conversely, low levels of frost can add £51m to the economy.Each additional day of 10mm of rainfall reduces quarterly GDP by £86m, according to the Cebr research commissioned by cloud company 8×8 Solutions, but 10mm less rainfall than average benefits the economy by £22m.Every cold cloud has a silver lining, however.IT and communications suffered the least from the effects of cold weather and, in fact, experienced positive growth during poor weather, the only sector to benefit from the conditions. This is largely due to the high use of cloud computing in the industry which allows employees to continue working at home, according to the Cebr.Nearly two-thirds of IT and communications businesses use some form of cloud technology, compared to between 15 and 30 per cent of other businesses.Professional services are also mitigating the effects of a cold snap through remote working, while smaller businesses are more at risk from poor weather and hit harder than larger companies due to their lack of connectivity.“Many small offices are unprepared for such events as they often lack remote access to their work due to security concerns and a lack of infrastructure.” said the Cebr’s head of UK macroeconomics Scott Corfe.“This is compounded in many cases by inadequate internet connections or computing power at staff homes. In addition SMEs tend to suffer more than their larger counterparts who can spread the setup and maintenance costs of remote working infrastructure across many more staff.” Cold snaps cost the economy £2.5bn, says Cebr research on UK weather’s impact whatsapp Lynsey Barber center_img Wednesday 4 March 2015 4:52 am Share whatsapp Tags: NULLlast_img read more

The Night Tube delay is not just frustrating for commuters – it’s putting business plans on hold, too

first_img Show Comments ▼ The Night Tube is the promised land for many people reliant on London’s night-time economy. A long-overdue culture shift away from people getting drunk as quickly as possible, to a world in which a more measured mass stay out and enjoy the finer things the capital has to offer, spending money until the early hours without the need to get the last Tube home.   Now, with reports the service may not launch until March 2016, we are one of many companies reviewing what this may mean for us.  We launched in July because we thought it would give us time to establish our late night food delivery service before the Night Tube kicked in. We had grand plans for extra delivery drivers and marketing teams to cash in and cater for the increased hoards of hungry revellers. But while sales have been increasing as people return from their holidays, the big boom of profits is now unlikely to come. And those ideas of rapid growth and a bigger team are dead in the water. It’s not just us. I know of many bars and restaurants that had planned to extend opening hours on Friday’s and Saturday’s in order to cater for the higher numbers of people staying later, and therefore spending more money in the city. They too have decided the extra effort is no longer worth it, so 11pm closing times shall remain. It transcends just business though; it’s the reputation London is getting internationally that is worrying. A city that is vibrant and diverse and a world leader in the arts in the day, but anything approaching midnight and boom it’s over, shut-up shop, nothing to see here, go home please.  So sadly the binge-drinking culture, the restaurant kitchens closing at 11pm, that anxiety about catching the last Tube home will remain. Italian and Spanish people – more used to ironing their jeans to go out at midnight than running to get on the final Central Line train home, will continue to be perplexed by London’s dearth of late night activities.  As for us, we will plough on. The delay to the Night Tube will at least not encourage anyone else to try and interfere in our late night niche. But the increase in business and sales and profits that the service could have brought, that’s something we will most likely still be waiting for in early 2016. Thursday 10 September 2015 11:45 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunComedyAbandoned Submarines Floating Around the WorldComedyMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity Mirrorzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbes whatsapp whatsapp Catherine Neilan The Night Tube delay is not just frustrating for commuters – it’s putting business plans on hold, too Share More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comWhite House Again Downplays Fourth Possible Coronvirus Checkvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orglast_img read more

A rabid dog made it past border control. Again

first_img Tags CDCrabies Senior Writer, Infectious Disease Helen covers issues broadly related to infectious diseases, including outbreaks, preparedness, research, and vaccine development. “Globally, animal welfare stakeholders should consider focusing their efforts on supporting local organizations that provide adoptive homes, along with health care services, for street animals in their own countries,” they wrote.Scientists in the CDC’s rabies program said the organization isn’t trying to put a stop to such operations or discourage people from adopting companion animals in need of a home. But people who want to adopt an animal could look closer to home, they suggested.“The strong point we’re trying to make here is that there are plenty of adoptable animals here in the United States. About five million animals a year enter a shelter and about half of those will be … put down,” said Ryan Wallace, a veterinary epidemiologist with the CDC. “So there’s no shortage of adoptable animals here in the United States.”Human rabies cases are rareGlobally, nearly 60,000 people a year die from rabies, a virus that attacks the central nervous system. People exposed to the virus will survive, if they are given treatment quickly. But once symptoms start to manifest, the disease is almost invariably fatal. The incubation period — the time from exposure to onset of illness — is typically between three weeks and three months, though it can stretch much longer. Some people only develop rabies a number of years after exposure.In developed countries, human rabies cases are rare. The United States reports one to three cases a year, on average. But rabies remains a public health concern, both because of the fatality rate of cases and the fact that countries like the United States work hard to ensure that the ground gained against the once more-common disease isn’t lost.Before rabies vaccines were developed and mandated for dogs in the United States, there were about 100 rabies deaths a year.The United States spent hundreds of millions of dollars on rabies control programs in the 1950s, ’60s and ’70s to rid itself of canine rabies, Wallace said. The last case of canine rabies — the strain that circulates among dogs — was recorded in 2004. (Other strains of rabies that infect bats, raccoons, skunks, and mongooses are still found in the United States and its protectorates.)Red flags on paperwork“We definitely do not want that canine rabies virus coming back into the United States and being re-established,” Wallace said. “It is the most dangerous [rabies] virus to people. Not that it’s any different in terms of how it impacts us but because it affects dogs, the animals that live in our houses and sometimes sleep in our beds.”Dr. Nicky Cohen said the CDC issued guidelines last year to spell out what is needed, from a rabies control standpoint, to import companion animals to the United States. Chief among them: an authentic rabies vaccination certificate. It also pointed out some red flags to look for on rabies vaccination certificates to spot fakes — things like multiple dogs in a shipment having identical certificates or evidence that a dog’s name has been whited out.“It’s pretty basic,” Cohen admitted. “There have been four incidences where rabid dogs have been imported. But we do know that more dogs than just these four have been imported with falsified records. This was issued in response to the recognition of imported dogs with falsified vaccination records.”The dog from Egypt was part of a shipment of eight dogs and 27 cats. It was the only animal in the shipment that was infected.The animals arrived in New York from Cairo, but were then sent on to New Jersey, Pennsylvania, Maryland, and Virginia — which is where the rabid dog wound up. All had to be traced and checked.Cohen and Wallace said the CDC doesn’t know how many international animal rescue groups are importing animals to the United States, or how many animals a year come in this way. Importations tend to spike when a natural disaster garners a lot of media attention, Cohen noted, such as the earthquake in Haiti in 2010. By Helen Branswell Dec. 17, 2015 Reprints @HelenBranswell About the Author Reprints HealthA rabid dog made it past border control. Again Helen Branswell Ten people who had substantial contact with the animal were advised to get post-exposure rabies treatment and eight more involved in its importation opted to get vaccinated as a precaution, CDC and state health department officials wrote in a report on the incident published in this week’s Morbidity and Mortality Weekly Report, a journal operated by the CDC.‘There’s no shortage of adoptable dogs in the US’The authors said rescue operations that import strays for adoption in the United States might want to rethink their approach to safeguarding the animals’ wellbeing.advertisement A stray dog, one of 10 rescued after being displaced from the Sochi 2014 Winter Olympics, arrives in Washington, D.C., shortly after the games. Chip Somodevilla/Getty Images After a rabid dog made it into the United States from Egypt, rabies experts at the Centers for Disease Control and Prevention are trying to prevent a similar incident from happening again.The rabid dog was transported into the country in May by an animal rescue organization. It was later discovered the dog’s rabies vaccination certificate was a fake, CDC officials said Thursday.It’s the fourth time — that officials know of — in the last 11 years that a rabid dog has been imported to the United States.advertisementlast_img read more

Drug ads don’t prompt most consumers to ask about medicines

first_img Related: Even as a movement grows to limit drug ads aimed at consumers, very few people say advertising prompts them to ask their doctors about the medicines being promoted, according to a survey released on Monday.To be specific, only 7 percent of those queried reported that they made a point of speaking with a doctor about a drug after seeing it advertised on television, according to the survey conducted by Treato, a market research firm. And this was down from 21 percent in a previous survey.Moreover, 76 percent are not inclined to pay attention to an ad just because a celebrity is pitching the medicine; 46 percent want drug ads banned from the Super Bowl; and 80 percent say they are not inclined to pay more attention to animated characters hawking drugs.advertisement By Ed Silverman April 19, 2016 Reprints Tags drug adsdrug marketingFDA @Pharmalot Related: The untold story of TV’s first prescription drug ad Over the past few months, the American Medical Association called for a ban on consumer drug ads, while one congressional lawmaker proposed a three-year moratorium. Another lawmaker wants to end the tax breaks that are given to drug makers for their advertising.As we have noted previously, consumer groups and physicians have argued that ever since the US Food and Drug Administration revised guidelines in 1997 to permit drug makers to use broadcast advertising, some ads too often encourage patients to seek medicines unnecessarily.The AMA — and the lawmakers that proposed the various bills — has also argued that advertising can inflate health care costs if consumers are prompted to seek newer, higher-priced medicines that drug makers may advertise to quickly trigger sales.Impact or no impact, the advertising is being noticed. The survey found that 64 percent of consumers said they felt like they saw more drug ads on TV last year. During the past year, drug ads on TV increased by 26 percent, according to Medical Marketing & Media. PharmalotDrug ads don’t prompt most consumers to ask about medicines [email protected] And some forms of drug advertising rub consumers the wrong way. The survey discovered that 75 percent of the respondents believe that ads for erectile dysfunction pills and low libido drugs should only be shown after 9 pm or not at all.Of course, this is just one survey and the sample size is not all that large, at least in relation to the overall population exposed to TV ads promoting medicines. Nonetheless, the findings do provide a glimpse into consumer thinking at a time when drug makers are pouring more money into ads.Read the most popular stories this hourThe FDA may also want to take note. The agency is conducting a study to determine the extent to which animated characters in TV ads distort consumer understanding of side effect risks. This is the latest in a string of studies that the agency has pursued to gauge the impact of advertising on consumers. About the Author Reprints Ed Silverman Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. The FDA wants to know how well older people understand TV drug ads The findings suggest that many consumers may not be easily swayed by the plethora of direct-to-consumer advertising seen on television, a controversial issue that has prompted moves by lawmakers and physicians to restrict this form of promotion.Spending to promote medicines on TV totaled nearly $3.7 billion last year, up 31 percent from 2014, according to Kantar Media. Overall, the pharmaceutical industry spent about $5.4 billion last year on advertising, a 19 percent increase from $4.5 billion the year before.advertisement Benjamin Stone/Flickrlast_img read more

Baby raccoons rescued from Sanibel Island attic after mother was removed

first_imgAdvertisementTags: CROWRaccoons AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments Two hawk nestlings receive treatment after they were found in a parking lot May 12, 2021 AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments Three hawk nestlings released after recovering at CROW June 7, 2021 AdvertisementIf you do find an intruder raccoon has made a den in your home, maker sure to thoroughly check for babies so they can be relocated with their mother. SANIBEL, Fla.– Healthy baby raccoons are often brought into Veterinary teaching hospital and rehabilitation clinic, CROW, when they are found in homes.According to CROW, babies are often found in raccoon dens after the trapped mother is removed. Because it is not initially clear that she had her babies with her, the offspring will need to be raised in captivity before they are potentially able to return to the wild. Raccoon’s often show up looking for a snack. CROW recommends removing any food sources outside of your home like birdseed, fallen fruit and cat or dog food. It is also good practice to make sure trash cans are properly sealed.center_img Advertisement Two eaglets released in Cape Coral after recovering from wing injuries May 9, 2021 Opossum gets tiny eye patch in Sanibel after cat attack May 5, 2021 RELATEDTOPICS Advertisementlast_img read more

In Pictures: Laois Ladies football club get on board with 20×20 drive

first_img RELATED ARTICLESMORE FROM AUTHOR Pinterest Facebook Twitter GAA Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory Home Sport GAA In Pictures: Laois Ladies football club get on board with 20×20 drive SportGAALadies Football One Ladies football club has firmly got behind the 20×20 campaign by hosting an event recently.Timahoe Ladies, Laois’s most success Ladies football club, were in Stradbally GAA recently for a series of blitzes and games aimed at promoting their sport.20×20 is about creating a cultural shift in our perception of girls and women in sport. GAA TAGS20x20Timahoe Ladies Facebook In Pictures: Laois Ladies football club get on board with 20×20 drive Pinterest WhatsApp Twitter Previous articleBattle for the last seat in Portlaoise set to go right down to the wireNext articleExtra time heartbreak for Stradbally Town as Monksland claim Combined Counties Cup Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. SEE ALSO – ‘I have nightmares about it,’ Mountmellick shop-owner expresses her dread surrounding Post Office move GAA WhatsApp By Alan Hartnett – 25th May 2019 Here are all of Wednesday’s Laois GAA results By increasing visibility of women’s sport it will become a greater part of who we are and what we follow. There is already so much to celebrate when it comes to women’s sport in Ireland, but there isn’t enough noise.The initiative seeks to change the subliminal bias in the Irish psyche that exists around girls and boys, or women and men, when it comes to sport.Timahoe Ladies PRO Yvonne Hennessy said: “We are supporting the 20×20 campaign.“Our senior girls have also pledged to help out at underage training to alert our underage cohort that women in sport are important and we as a society must value it just as much as men in sport.“Our senior girls are excellent role models and we need to bridge the gap between underage and adult football for our club.”Check out some pictures from the day below: 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshinlast_img read more

Safety comes first for GIC investors: poll

Canadians rank safety of their investments as more important than the highest interest rates when considering Guaranteed Investment Certificates (GICs), suggests a new poll released by Royal Bank of Canada. According to the poll, four-in-10 Canadians (44%) who hold GICs — or would consider holding them — place safety first; highest interest rates come in second, at 32%. IE Staff Related news VCIB launches GIC to help businesses impacted by pandemic Equitable bank introduces GICs in U.S. dollars Meridian launches price-matching GICs “While the popular belief is that the best rate is paramount when choosing to invest in GICs, our findings confirm that Canadians consider guaranteed principal first and foremost, for the protection and safety of their investment,” says Rosalyn Kent, head, GICs and savings, RBC. “We also found that most Canadians are taking a long-term view of their GIC investments, with 65% saying that, when deciding to purchase a GIC, having the flexibility to cash in their GICs before their maturity date was the least important consideration.” The oll found that today’s GIC investors would be interested in increased benefits and flexibility, such as: GICs that offer an interest rate that increases every year (80%); GICs that provide a regular income (70%); and GICs that are linked to the stock market (65%). The RBC 2012 GIC Poll was conducted via the Ipsos I-Say Online Panel, Ipsos Reid’s national online panel. A sample of 1,297 Canadian adults — with minimum household assets of $2,500 — was surveyed June 12 to 18. Keywords GICs — Guaranteed investment certificates Share this article and your comments with peers on social media Facebook LinkedIn Twitter read more

TSX rises as traders look to U.S. jobs data, European stimulus

first_img Facebook LinkedIn Twitter Rising interest rates could dampen stimulus impact: PBO Malcolm Morrison The Toronto stock market closed higher Wednesday amid hopes that stimulus measures are on the way to help the eurozone recovery and that the U.S. will rack up another month of strong job gains. The S&P/TSX composite index was ahead 62.1 points to 14,796.79. Related news Fed warns U.S. financial system remains vulnerablecenter_img BoE predicts best economic year for the U.K. since 1941 The Canadian dollar was down 0.24 of a cent to 91.42 cents as the Bank of Canada announced it was keeping its key rate unchanged at one per cent and indicated they will stay that low for some time to come. U.S. indexes registered minor gains despite a disappointing read on private sector job creation during May. The Dow Jones industrials climbed 15.19 points to 16,737.53, the Nasdaq gained 17.56 points to 4,251.64 and the S&P 500 index was 3.64 points higher to 1,927.88. Payroll firm ADP reported Wednesday that the U.S. private sector created 179,000 jobs during May, the fewest number in four months. That reading came in two days before the release of U.S. non-farm payrolls report for last month. Economists have forecast that about 219,000 jobs were created during May following a much stronger than expected 288,000 gain in April. Canadian job figures for May also come out Friday and economists expect about 21,000 jobs were created after the economy shed 29,000 the previous month. The employment news was somewhat offset by other data showing the American non-manufacturing sector expanding at a faster than forecast clip. The Institute for Supply Management said its index rose to 56.3, the highest level since last August and above expectations for a read of 55.5. Also, the Federal Reserve’s latest regional survey shows the U.S. economy strengthening over the past two months in areas from manufacturing and construction to retail sales and bank lending. Meanwhile, markets are counting on the European Central Bank to announce measures Thursday aimed at giving a lift to the eurozone’s weak recovery and saving the region from falling into a deflationary spiral that would choke off growth. Worries about deflation increased Tuesday in the wake of data showing that inflation in the eurozone came in at 0.5 per cent in May, down from 0.7 per cent in April. “I would actually use the word ‘scary’ because growth has been very fragile at best and now you have disinflation. If that turns to deflation, we know the experience on this from Japan and it is not a pretty story,” said Luciano Orengo, a portfolio manager at Manulife Asset Management. The latest data also showed that gross domestic product in the eurozone grew by a paltry 0.2 per cent in the first quarter. Analysts are looking at a variety of options for the ECB, including an interest rate cut. “I think the biggest wild card is whether it will do a form of quantitative easing,” added Orengo. The information technology sector was the biggest TSX advancer, up one per cent as BlackBerry (TSX:BB) ran up 25 cents to $8.40. The financial sector was ahead 0.64 per cent and Laurentian Bank of Canada (TSX:LB) shares edged 48 cents higher to $48.06 as the bank’s adjusted profit came in at $1.29 a share, five cents ahead of estimates. Laurentian also upped its quarterly dividend by a penny to 52 cents per share. The gold sector was ahead about 0.2 per cent, while August bullion lost early momentum and faded 20 cents to US$1,244.30 an ounce. The energy sector was up 0.63 per cent while the July crude contract on the New York Mercantile Exchange dipped two cents to US$102.64 a barrel. The base metals segment led decliners, down 0.27 per cent while July copper fell four cents to US$3.09 a pound. Share this article and your comments with peers on social media Keywords Interest rates,  Marketwatch last_img read more

First enforcement, now an exemption

first_img PwC alleges deleted emails, unusual transactions in Bridging Finance case Following the enforcement ruling, the IIROC board considered TDW’s application for an exemption from the requirements it had been sanctioned for breaching.According to the board’s decision, IIROC staff discovered that TDW wasn’t complying with the CRM2 requirements on position cost in April 2017.“Following discussions with IIROC staff, TDW provided affected clients with an estimate of position cost using the position’s market value as at Dec. 31, 2018, rather than the 2015 estimated position cost information the rule required,” it said.It noted that TDW first applied for an exemption in November 2018, but that the IIROC board deferred its review of the application until the enforcement case was completed.Once that happened, the application — requesting a permanent exemption from the requirements to provide position cost using data from Dec. 31, 2015 — was revived.According to the decision, TDW argued that resetting the position costs to new values based on 2015 data “would confuse clients and complicate any performance tracking clients may have been doing based on the [2018] position cost.”In its decision, the board concluded that not having position cost disclosure to 2015 “is not unduly burdensome” for several reasons, including that “the number of affected account positions has declined significantly since TDW made its initial exemption request,” and the firm has provided clients with an explanation of its reporting.It also noted that requiring compliance with the original cost disclosure requirements would be expensive and time consuming for the firm.“The estimated cost of implementing the full-compliance solution is considerably more expensive five plus years later than it would have been in 2015,” the board said in its decision, adding that “TDW estimates that it would take approximately two years for any full-compliance solution to be implemented.”By allowing the exemption, the board concluded that TDW will have incurred comparable costs to other dealers for providing clients with cost disclosure, and that it has addressed its historical non-compliance “by complying with the decision reached in the separate IIROC enforcement process.”The decision also noted that the enforcement process is designed to address past misconduct, whereas the exemption process is a distinct procedure focused on future conduct, the interests of clients, other dealers and the public.With that in mind, the board also considered concerns that allowing the exemption could “create an incentive for other [dealers] to not comply with […] IIROC rules if they think that they now have the option of resolving a non-compliance situation by seeking an exemption,” and whether it would be unfair to dealers that comply with the original requirements.However, it dismissed these concerns, noting that the reputational and financial costs imposed by the enforcement case, coupled with the cost of providing clients with disclosure to 2018 and obtaining an exemption, don’t create an incentive for other dealers to ignore IIROC rules, and aren’t unfair.“Given the […] totality of the circumstances […] (including the significant fine paid by TDW for its non-compliance), the IIROC board does not believe that the public would conclude that [dealers] have the ‘option’ of non-compliance with an IIROC requirement that will be cured by an exemption,” it said. James Langton Share this article and your comments with peers on social media Mouth mechanic turned market manipulator Related news The Investment Industry Regulatory Organization of Canada (IIROC) board has granted an exemption to TD Waterhouse Canada Inc. (TDW) from provisions of the client relationship model reforms that the firm was fined for violating earlier this year.In March, an IIROC hearing panel fined TDW $4 million for failing to provide clients with position cost information for certain securities positions, starting Dec. 31, 2015. BFI investors plead for firm’s sale Facebook LinkedIn Twitter Keywords Client relationship model,  Enforcement,  DisclosureCompanies TD Waterhouse Canada Inc., Investment Industry Regulatory Organization of Canada last_img read more

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