Vermont to receive $499,000 in multi-state settlement with LPL Financial

first_imgVermont Business Magazine Today the Vermont Department of Financial Regulation (DFR) announced it has entered into a settlement agreement(link is external) with LPL Financial LLC (LPL) that requires the firm to pay the State of Vermont $499,000 and to repurchase certain securities sold to Vermonters dating back to October 2006. A $400,000 civil penalty will be deposited into the state’s General Fund with the remaining $99,000 being deposited into the department’s Investor Education Fund.Michael Pieciak, DFR Commissioner, applauded the efforts and coordination of his fellow state regulators.“This settlement demonstrates that state regulators can work together effectively to police our financial markets and protect our citizens,” Pieciak said in a press release. “The settlement’s civil penalties send a strong message of deterrence to other companies and the contribution to the Investor Education Fund will strengthen our department’s efforts to improve Vermonters’ financial literacy as they plan for major life events.”The settlement stems from a multi-state investigation regarding LPL’s failure to establish and maintain reasonable policies and procedures to prevent the sale of unregistered, non-exempt securities to its customers.The settlement finds LPL failed to maintain adequate systems to reasonably supervise agents, staff, and employees to prevent unregistered sales. The settlement also provides the firm failed to maintain books and records necessary to ensure full and proper compliance with state securities laws and failed to conduct appropriate and necessary due diligence regarding the retention, use, and subsequent cancelation of certain third-party services critical for compliance with state securities laws.In total, LPL will pay $26 million in civil penalties to the 52 jurisdictions participating in the multi-state settlement. In addition, any Vermont LPL clients holding securities determined to have been unregistered, non-exempt equity, or fixed-income securities sold since October 1, 2006 will receive an offer to repurchase the securities at the original purchase price plus three percent interest per year.As part of the settlement, LPL also agreed to a “top-to-bottom” review of the integration of new securities products to assess the firm’s ability to comply with all state securities registration requirements and to adhere to all operations and procedures in connection with state registration requirements, that apply to the offer and sale of that product. The firm also agreed to a similar review of its vendor-service protocols to ensure processes are in place to identify and manage critical services used to ensure compliance with state securities laws.Source: Montpelier, VT – 11.26.2018. Vermont Department of Financial Regulation website(link is external).last_img read more

News Scan for Oct 31, 2018

first_imgMERS infects 2 more in Saudi ArabiaSaudi Arabia reported two more MERS-CoV cases, according to an update to its week 44 epidemiologic report today.Neither of the patients had contact with camels, a factor known to raise the risk of contracting MERS-CoV (Middle East respiratory syndrome coronavirus). One patient is a 62-year-old man from the city of Omluj in Tabuk region in the northwest, and the other is a 53-year-old man from Riyadh in the central part of the country.Both are hospitalized and thought to have primary exposure, meaning the virus probably wasn’t transmitted from another patient.Since the first human cases were detected in 2012, at least 2,266 MERS-CoV cases have been reported, at least 803 of them fatal. Most of the cases have been reported in Saudi Arabia.Oct 31 Saudi MOH report Maternal-fetal transmission found in 26% of Zika pregnanciesA new prospective cohort study conducted in French Guiana found that, in cases of maternal Zika virus infection, 26% of fetuses became congenitally infected. Of those, 21% suffered severe complications at birth, and 14% did not survive until birth. The study was published in the British Medical Journal (BMJ).The study was conducted at the French Guiana Western Hospital Center during the 2016 Zika epidemic. The hospital admitted 1,690 pregnant women from Jan 1 through Jul 15, 2016, and tested all for Zika.A total of 498 pregnant women tested positive for the virus, and 305 fetuses were included in the study. Seventy-six fetuses tested positive for Zika via testing of the umbilical cord, or placenta, amniotic fluid, cerebrospinal fluid, urine, or blood. Of the 76 fetuses, 34 were asymptomatic at birth, 15 had mild or moderate symptoms of congenital Zika syndrome (CZS), 16 had severe complications, and 11 suffered fetal loss.The authors said only 13% (approximately one in eight) of all fetuses born to mothers positive for Zika virus presented with “severe adverse outcomes.” This rate is similar to other congenital illnesses, including cytomegalovirus infection.”The burden of CZS might be lower than initially described in South America and may not differ from other congenital infections,” the authors concluded. Oct 31 BMJ study Flu elevated in parts of South Asia, Southeast Asia, rising elsewhereFlu in the Southern Hemisphere, which is nearing the end of its season, continued to decline, and though overall activity in the Northern Hemisphere is still at interseasonal levels, activity is starting to increase in Europe and North America, the World Health Organization (WHO) said this week, based on data from the first half of October.In southern Asia, flu remain elevated, mainly due to the 2009 H1N1 virus, and in Nepal, detections of H3N2 and influenza B increased, the WHO said. Flu activity also rose in some Southeast Asian countries, such as Laos, where 2009 H1N1 is the dominant strain, and Myanmar, where health officials are mainly seeing H3N2 and influenza B.Globally, of viruses that tested positive for flu in the first part of October, 84.2% were influenza A and 15.8% were influenza B. Of subtyped influenza A viruses, 80.1% were the 2009 H1N1 strain.Oct 29 WHO global flu update Study highlights role for blood tests for enterovirus in childrenTesting blood for enteroviruses is helpful for diagnosing young children with fever without a source of sepsis-like syndrome, according to a study of French pediatric patients over two seasons, a research team reported yesterday in The Lancet Infectious Diseases.Enteroviruses are a frequent cause of acute meningitis and increasingly implicated in sepsis-like disease and with fevers without a known source. Though testing cerebrospinal fluid (CSF) is the gold standard for diagnosis, researchers wanted to assess polymerase chain reaction (PCR) testing for the virus in blood.The group’s prospective observational study included newborns, infants, and children ages 2 through 16 from 35 French pediatric and emergency departments at 16 hospitals. The study enrolled 822 patients with fever without a source, sepsis-like syndrome, or suspected meningitis who underwent enterovirus testing in blood and in CSF from June through October of 2015 and 2016.Overall, enterovirus was detected in 357 (43%) of children, which included 191 (54%) who had positive blood and CSF samples, 45 (13%) with a positive blood test but negative in CSF, and 40 (11%) with positive blood findings but no CSF available for testing. Only 81 children (23%) whose CSF was positive for enterovirus had negative findings in blood sample testing.The researchers said the findings suggest that adding blood testing, or using it when CSF isn’t available, significantly increases yield, detecting 24% of infections that wouldn’t have been diagnosed otherwise. Testing positivity, however, varied by age, with blood-test-positives more frequent in children ages 2 and younger. In older children with suspected meningitis, enterovirus detection was more frequent in CSF than in blood.In a commentary in the same issue, two experts from the department of pediatrics at the University of Colorado School of Medicine and Children’s Hospital Colorado said blood isn’t routinely tested and isn’t included in many clinical guidelines for managing febrile children, but the study findings suggest that it can contribute to the diagnostic assessment of young children with unknown fever or sepsis-like syndrome, including when CSF isn’t available for testing.They said enterovirus testing is most cost-effective during seasonal circulation and that ideally, results should be available quickly, which can help clinician avoid unnecessary antibiotic prescribing. “The novel information contained in this article should be incorporated into future guidelines for febrile neonates and infants with fever without source, by including recommendations for blood PCR testing for enteroviruses,” they wrote.Oct 30 Lancet Infect Dis abstract Oct 30 Lancet Infect Dis commentarylast_img read more

InterMoor supports Red Hawk spar decommissioning

first_imgInterMoor, an Acteon company, has successfully completed its contract supporting the decommissioning of Anadarko Petroleum Corporation’s Red Hawk spar in the Gulf of Mexico.The Red Hawk spar is the deepest floating production platform to date to be decommissioned in the Gulf of Mexico. It is also the first spar decommissioned in the “Rigs-to-Reefs” programme, which required the spar to be laid down on its side on the seafloor.Work was split between the original spar site at Garden Banks, block 876, in the Gulf of Mexico, at a depth of 5,200 ft., and the reefing site at Eugene Island, block 384, at a depth of 430 ft.InterMoor developed the engineering procedures and performed the work to disconnect the mooring lines from the floating facility. The company also ballasted the hull prior to and during the topsides removal and deballasted it to prepare the hull for towing. Ballasting and deballasting were performed from a nearby derrick barge. The spar was then towed to the reefing site where it was flooded and laid on the seabed in a controlled manner. Finally, InterMoor recovered the mooring lines and assisted with the as-laid survey of the reefing site.Dusan Curic, project manager at InterMoor, said, “Through thorough engineering and efficient offshore operations InterMoor enabled Anadarko to facilitate the safe and efficient removal of the platform. Multiple departments were involved – Project Management, Project Engineering, Advanced Analysis Group, Subsea Group, Operations, and Shore Base. We also managed multiple subcontractors throughout the project. InterMoor expanded its services to include ballasting and deballasting to allow for a more comprehensive life-of-field solution for its clients.”The project represents InterMoor’s first work in ballasting and deballasting, and builds on the company’s growing decommissioning experience.Press Release[mappress mapid=”412″]last_img read more

Anderson Varejao Finds New Home While Cavs Struggle; The Curse of the Wild Thing?

first_img Related TopicsAnderson VarejaoCavsCleveland CavaliersDraymond GreenGolden State WarriorsLebron JamesLuke WaltonNBAStephStephen CurrySteve KerrWild Thing My colleague Brandon Larador pointed out on our weekly show, “The CavsLand, Ohio Podcast,” he was concerned about the Anderson Varejao trade “adding on to Cleveland’s curse.”I laughed when Brandon said that, but the last week has made me think… What if he’s right?Since Varejao was traded, not much has gone the Cavs’ way. The Cavs are 1-3 since Channing Frye made his debut. They lost out on coveted free-agent Joe Johnson. Their next target on the shopping list, Kevin Martin, is reportedly interested in San Antonio.The Cavs signed a D-League player who practically nobody had heard of to fill one of the open roster spots. Frye made an impact in one of his first four games. Obviously it’ll take time for him to be a difference maker if he ever becomes one, but does anyone really think in their heart of hearts that Frye is going to put the team over the top?I hope he proves me wrong and hits a buzzer beater in Game 7 of the Finals, but I’m not holding my breath on that.Meanwhile, Golden State and Varejao have had literally nothing but success since he arrived.Since the day Varejao signed, Golden State is 4-0. Who cares if he only played 35 minutes in three games? It’s Andy. What the Wild Thing brings to a team is more than just “great hair” (like Luke Walton said when they acquired him) and along with that great hair is being a great teammate. First came a story about how Varejao was fitting in with his new team one day after signing with the Warriors. Here is an excerpt from the SFGate.com article by Rusty Simmons: About five minutes after the Warriors’ 102-92 victory over the Hawks on Monday night, Draymond Green made his way to the visitors’ locker room.Waiting for Green at the door was Anderson Varejao — all 6-foot-10 and 273 pound of him, full of dap and praise.Varejao just kept standing at the door, waiting another 10 minutes as his new teammates mocked the seemingly curious act.When Stephen Curry finally arrived at the locker room, Varejao was still at the door and ready with a similar greeting for the point guard.With all of the Warriors in the locker room and having been congratulated on win No. 50, Varejao felt it was finally OK to sit.“You’ve got to respect that,” Green said.Varejao hasn’t played a second for the Warriors yet, and he’s already had a positive impact on the league’s best team.“Everybody loves him,” Warriors head coach Steve Kerr said. “… He’ll be great in our locker room, and he’ll get a chance to play.”The thing that stuck out to me was that Varejao had not even played in a game yet and was already showing how great of a teammate he is. Some would say “Who needs that? We’re trying to win a championship.” Well, a team poised to win its second-straight championship seems to value that intangible factor Varejao brings. As if that wasn’t enough, a new story came out on Friday, in which Varejao compares the atmosphere and culture of Cleveland to Golden State. According to the Wild Thing, it’s night and day.“I’m glad I came here because I can tell they love each other,” Varejao told CSN Bay Area’s Monte Poole earlier this week. “When you want to win, you have to be like they are. Friends have fun out there, fun in the locker room.”At first glance that may seem like a guy who is happy to be with his new team, but what does that tell you about the environment of the Cavalier locker room and chemistry of the team? The Cavs won plenty of games this season before Andy was traded. Third-most in the league, in fact. But Varejao’s statement implies that love between teammates and camaraderie that is so apparent with the Warriors may not be there in Cleveland. At least not to the same degree, anyway. And if anything, over the 12 years we have known Andy in Cleveland, you would expect him to be someone who brings the locker room together. Who doesn’t love Varejao? There are few guys as universally loved in Cleveland sports, not just by fans, but universally admired even by media members who cover the team. One would be hard-pressed to find a negative trait of Varejao. He’s injury-prone and overpaid. Ok. But think about this. Who in their right mind would have CHOSEN to stay in Cleveland through all the turmoil, the 26-game losing streak, and the four years of irrelevance? Did you see Varejao requesting trades? He wanted to be a Cavalier for life. A rare trait in all of sports nowadays.When Johnson left the Nets, he chose to go to sunny Miami rather than play for a chance at a championship in Cleveland. Presumably because Cleveland is that unattractive of an option, even when they’re in a championship hunt.Dan Gilbert has spared no expense with this Cavalier roster. It’s one of the highest-paid in the history of the NBA. Tristan Thompson and Kevin Love make more combined salaries than quite a few starting lineups. In the grand scheme of things, the Cavs are still going to have to pay Frye, so what would paying Varejao more than he deserved have really cost Gilbert and his fellow owners in the long-run?Financially it makes sense. So did Art Modell moving the Browns. So did changing the name of Jacobs Field. But this move is just another in Cleveland sports history that may come back to bite the city and be remembered along with “The Drive,” “The Fumble,” “The Decision,” “The Shot,” “The Curse of Rocky Colavito,” … Could it be “The Curse of the Wild Thing?”There’s more than a fair chance that Varejao will be facing the Cavs in the 2016 NBA Finals. It’s even possible he hoists the Larry O’Brien Trophy on the Cavaliers’ home court. How bittersweet that would be for him. And how bitter would that be for Cleveland? When it’s all said and done, Varejao’s #17 jersey might be hanging right next to Zydrunas Ilgauskas #11 in the rafters. And his only ring might be with the hated Warriors. (Z was an injury-prone, fan-favorite who played hard for Cleveland his whole career, too, before joining Miami, coincidentally.)As someone who has grown up in Cleveland, watching Varejao play in a Cavs jersey for half of my life, I can’t even be mad at him. The Cavs screwed him over. He’s not going to be broke because of it. He won’t go hungry because of it. But he was rewarded for his loyalty by being kicked out the door, finding out via text message, and thanked for his 12 years of service by essentially being told “You’re not worth the money.” In the end, Gilbert may have done him a favor. Right now he’s in the best position to get a title. But it’s not often you find a special individual who pours his heart and soul into the city of Cleveland, a place where winters are cold, free-agents stay away, and is generally a laughing stock of major cities with sports franchises. So what do the 2015-2016 Cavaliers do when that person is on their roster? Take them and their more than a decade of service for granted.It took a little over a week for this to really sink in for me, but watching Varejao from a distance and seeing the direction Golden State is headed, while the Cavs continue to falter, it has become clear that whatever the Cavs had to gain by trading him did not outweigh the significance of what he has contributed and what he meant to this franchise. Maybe Johnson’s decision to sign with Miami was the tipping point. If he chose to come to Cleveland and take up one of the two open roster spots from the trade, maybe it would have made more sense. But that backfired right in the Cavs’ faces. I don’t mean for this article to be interpreted as ill-will towards Frye. His role on the Cavs makes sense. But was he such a coveted target that the Cavs had no other way of getting him? If this comes across as a cheap shot then so be it, but Frye could have been bought out a week later by Orlando anyway. He did practically nothing in the weeks before the trade.Orlando found a way to get some assets for him.The whole situation is sad. I wish Andy nothing but the best. I hope Frye proves me wrong. But if the Cavs lose in June, remember what my good buddy Brandon said, “The Curse of the Wild Thing.” Matt Medleycenter_img Matt Medley is co-editor at NEO Sports Insiders, covers the Cleveland Cavaliers, Cleveland Indians and high school sports in Northeast Ohio.Follow @MedleyHoops on Twitter for live updates from games.last_img read more

Tony Kenny – William Hill – BOS Speaker – The importance of a broad sponsorship mix

first_img StumbleUpon Share William Hill accelerates transformation agenda to overcome COVID realities August 5, 2020 Submit Share SBC Magazine Issue 10: Kaizen Gaming rebrand and focus for William Hill CEO August 25, 2020 Related Articles Gamesys tops list for GambleAware Q1 donations July 10, 2020 Tony Kenny looks after the PR/Communication and activation of William Hill’s sponsorship portfolio, which includes the Scottish Cup, Premier League and World Darts Championship.Kenny will be on our ‘Different Ball Game’ panel at Betting on Sports 2016 (September 15-16), speaking about how betting companies can reach new audiences via sports partnerships.SBC: William Hill has always had a broad sponsorship portfolio; as an organisation, how do you think you’ve benefited from this?TK: I think we’ve moved with the times and used our sponsorship mix effectively across our business both internally and externally. The industry’s current situation with Horse Racing shows the importance of not having a reliance on one sport.SBC: In its current context, do you think betting is too entwined with football marketing? Does the industry require fresh thinking?TK: For us, football sponsorship and partnerships remains an important part of our mix. It’s a competitive marketplace and it’s important to be front of mind when it comes to football betting – however there are emerging crossover sports where you can indirectly engage with a similar audience.SBC: Do you think that the marketing and communications for sports partnerships within the industry have become too formulaic? How do industry stakeholders create fresh and appealing campaigns?TK: I think betting companies need to look at their overall business objectives and strategy before jumping into football sponsorship. Then generate their campaigns based on their target audiences rather than going for the global 3.6 billion audience. They also need to engage more with fans through interactive content and stop thinking about supporters as numbers on their PowerPoint presentations.SBC: How can smaller sports with a unique audience make themselves more appealing to sports betting operators?TK: I think it’s really making themselves more appealing to the wider world. The UFC, Boxing and Darts are sports have revamped their images and have now become aspirational events to watch and attend.SBC: You are speaking at BOS on extending the betting industry’s reach within wider sports; what do you want delegates to take away from your session?TK: I hope they will get an insight into the importance of having a broad sponsorship mix and our successes both inside and outside of football sponsorship.____________________________________Are you interested in how betting companies can reach new audiences via sports partnerships?Make sure you’re at the largest sports betting industry conference of the year, Betting on Sports!#bettingonsports #BIGnBOSlast_img read more