Waterloo rep fined $50,000 for suitability violations

PwC alleges deleted emails, unusual transactions in Bridging Finance case Facebook LinkedIn Twitter IIROC found that in 2005 and 2006, Beechey recommended a structured product named Global Credit Preferred Corp. to several clients. GCP was a high-risk structured product that aimed to provide a dividend of 5.25% and repayment of the subscription price after a 10-year term. The dividend and redemption proceeds were derived from a portfolio of credit default swaps, and the returns were linked to the number of defaults (such as bankruptcy) within a reference portfolio of 129 companies. Beechey recommended the product to clients without fully understanding it, and failed to take adequate steps to inform himself or his clients of the complexities and risks inherent in GCP, according to IIROC. In some instances he mistakenly provided clients with incorrect information about GCP. “By failing to fully understand the product, Beechey was not in a position to adequately explain the structure, terms, risk or mechanics of GCP to his clients. For example, the concept of credit default swaps was not explained to most of the clients by Beechey,” IIROC said in the settlement agreement. “These clients were unsophisticated investors with limited investment experience. Accordingly, the clients did not fully understand the complexities or risks inherent in GCP.” There was a very significant amount of volatility in the net asset value of GCP. By December 2008, five defaulting events had occurred and the net asset value of GCP had declined to $3.45 from its original value of approximately $25. The high-risk investment was not suitable for several of Beechey’s clients, who had been seeking safe investments to provide for their retirement, IIROC found. In addition, in the case of three clients, their new account application forms did not accurately set out their true investment objectives and risk tolerance levels. As of the end of October 2007, six of Beechey’s clients had unrealized losses relating to GCP totaling $106,300, based on original investments totaling $227,000. Under the settlement agreement, Beechey has agreed to pay a fine of $50,000, and to disgorge the $1,399.88 in commissions that he received in connection with the GCP transactions. He must also pay $3,000 in costs. IIROC noted that Beechey wrote and passed the Conduct and Practices Handbook examination in October 2010. Since November 2007, Beechey has been employed as an investment advisor with CIBC Wood Gundy in Waterloo. Share this article and your comments with peers on social media IIROC reaches settlement with three former All Group reps serezniy/123RF Mouth mechanic turned market manipulator A registered representative in Waterloo, Ont. has been fined $50,000 by the Investment Industry Regulatory Organization of Canada for failing to make suitable investment recommendations to clients, among other regulatory violations. In a settlement agreement released on Monday, IIROC reveals penalties against Matthew Beechey, who was formerly employed as a registered rep with TD Waterhouse Canada Inc. Keywords Structured products,  Suitability obligations,  EnforcementCompanies Investment Industry Regulatory Organization of Canada BFI investors plead for firm’s sale Megan Harman Related news read more

Probe: No outward engine failure in Bryant helicopter crash

first_imgHomeFeaturedProbe: No outward engine failure in Bryant helicopter crash Feb. 08, 2020 at 6:01 amFeaturedNewsProbe: No outward engine failure in Bryant helicopter crashAssociated Press1 year agoengine failurehelicopter crashkobe bryantNational Transportation Safety BoardPhoto by Fred Kearney STEFANIE DAZIOAssociated PressWreckage from the helicopter that crashed last month and killed Kobe Bryant, his daughter and seven others did not show any outward evidence of engine failure, the National Transportation Safety Board said Friday.Bryant, his 13-year-old daughter Gianna, and the others died in the Jan. 26 crash in Calabasas, California. The group was flying to a girls basketball tournament at his Mamba Sports Academy. Gianna’s team was coached by Bryant and was playing in the tournament.The NTSB is investigating the accident, including any role heavy fog played, and a final report isn’t expected for at least a year.A witness told the NTSB that the helicopter was flying forward and downward through the fog before it crashed right into the hillside. The witness said he saw the helicopter for 1 to 2 seconds before it hit the hill.The helicopter’s instrument panel was destroyed in the crash and most of the devices were displaced, according to the NTSB’s investigative update. The flight controls were broken and suffered fire damage.Investigators believe that since a tree branch at the crash site was cut, it appears the engines were working and rotors turning at the time of impact.Friday’s report was merely informational and did not offer any findings about what caused the crash. The victims’ deaths have been ruled an accident by blunt trauma, according to the Los Angeles County coroner.The deaths shook Los Angeles and the sporting world, with memorials spanning the city and tributes at the Super Bowl and other games. A public memorial for Bryant and the other victims is scheduled for Feb. 24 at the Staples Center.The arena is where Bryant starred for the Los Angeles Lakers for most of his two-decade and the date 2/24 corresponds with the No. 24 jersey he wore and the No. 2 worn by Gianna.Ara Zobayan was the chief pilot for Island Express Helicopters and had more than 8,200 hours of flight time. He was additionally certified to fly solely using instruments — a more difficult rating to attain that allows pilots to fly at night and through clouds — and was a pilot to other celebrities including Kawhi Leonard and Kylie Jenner.The aircraft did not have a device called the Terrain Awareness and Warning System that signals when an aircraft is in danger of hitting ground. The NTSB has recommended the system be mandatory for helicopters but the Federal Aviation Administration only requires it for air ambulances. U.S. Sen. Dianne Feinstein and U.S. Rep. Brad Sherman, both California Democrats, have called for the FAA to mandate the devices in the wake of the tragedy.It’s not clear if the warning system would have averted the crash. The helicopter was also not required to have a black box.A public memorial for Orange Coast College baseball coach John Altobelli, his wife, Keri, and daughter Alyssa will be held Feb. 10 at Angel Stadium of Anaheim. Also killed in the crash were Bryant friends Christina Mauser, Sarah Chester and her daughter Payton.Tags :engine failurehelicopter crashkobe bryantNational Transportation Safety Boardshare on Facebookshare on Twitteradd a commentCrime Watch – Thief caught flat footedPrimer: ConservatorshipYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall6 hours agoNewsCouncil picks new City ManagerBrennon Dixson17 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter17 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor17 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press17 hours agoNewsWedding boom is on in the US as vendors scramble to keep upAssociated Press17 hours agolast_img read more

Synchronoss chief bullish on cloud, IoT prospects

first_img Glenn LurieSynchronoss Technologies AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 18 SEP 2018 Related Previous ArticleGSMA boss urges strong response to digital pressuresNext ArticleGerman regulator criticises nationwide 5G call Tags Former Synchronoss boss resurfaces at US fibre co Diana Goovaerts Diana is Mobile World Live’s US Editor, reporting on infrastructure and spectrum rollouts, regulatory issues, and other carrier news from the US market. Diana came to GSMA from her former role as Editor of Wireless Week and CED Magazine, digital-only… Read more Author INTERVIEW: Synchronoss CEO Glenn Lurie (pictured) insisted the company is well placed to take advantage of opportunities in the cloud, IoT and messaging markets, despite a challenging Q2 in which revenue dropped 36 per cent year on year.Speaking with Mobile World Live at MWC Americas, Lurie acknowledged the company has undergone a lot of changes recently, including the refiling of results and a shake-up of its leadership with the additions of a new CFO, CMO and board member in the past year. But he said all of the changes thus far have been positive, adding the company has offerings in all of the “critical spaces” operators are focused on for the future.Lurie took over as CEO of Synchronoss in November 2017, after leaving a role as CEO of AT&T Mobility.“The best thing is we haven’t lost a single customer throughout all this mess I’ll call it, or fun. At the same time we’re adding customers, we’re doing deals. So yeah, I feel good about where we are. We’ve got work to do, but it’s been fantastic.”Lurie tipped cloud, messaging, digital transformation and IoT as key markets Synchronoss plans to play in going forward. The CEO also teased an upcoming announcement from the company around smart buildings.During the interview, Lurie also shared his thoughts on the current state of the IoT market and the impact 5G is set to have in the space. To watch the full interview, click here. Subscribe to our daily newsletter Back Synchronoss CEO resigns over misconduct allegations Synchronoss confirms Miller as permanent chief Home Synchronoss chief bullish on cloud, IoT prospectslast_img read more

Donald takes 1-shot lead as Day plummets

first_imgHILTON HEAD ISLAND, S.C. – For Luke Donald, it’s another chance to end his hard-luck history at Harbour Town Golf Links. For Jason Day, it’s a rare round to forget for the world’s No. 1 player. While Donald took the lead Saturday at the RBC Heritage with a 2-under 69, Day – tied atop the leaderboard entering the round – had a season-worst 79 to fall nine shots behind. ”It’s obviously not the way I wanted to play,” said Day, the winner of two of his past three PGA Tour events. It was exactly what Donald wanted at one of his most successful courses. He has mastered the swirling wind, tight fairways and really small greens better than just about anyone since 2009 with five top-three finishes over that span. The only thing he hasn’t accomplished? Victory. He has learned from those close calls that he can’t sit back Sunday and allow others – like winners Brandt Snedeker did in 2011 or Matt Kuchar did in 2014 – to zoom past him as he pars his way home. ”I can’t sit back on my heels,” the Englishman said. Donald was at 7-under 206 through 54 holes, a stroke in front of Jason Kokrak and Charley Hoffman. Kokrak shot 68 while Hoffman had a 71. Patton Kizzire shot a 71 and was another shot behind in fourth. British Open champion Zach Johnson, after a 70, was among three at 4 under. RBC Heritage: Articles, photos and videos Donald was a stroke behind when the round started and quickly moved up with three birdies on his first eight holes to reach 8 under. He bogeyed the 13th and trailed Hoffman by a shot. But Donald steadied his game with five straight pars over the windy back nine to get himself on top once more. Donald has won more than $2.5 million at the RBC Heritage, the third-highest total. But he’s known as much for his disheartening defeats on Pete Dye’s tricky layout. Snedeker rallied from six shots behind Donald to force a playoff and win in 2011. Three years later, Kuchar’s chip in from a bunker in front of the 72nd hole capped a four-shot comeback and left Donald, whose last of five PGA Tour wins came in 2012, in second once more. ”I think it’s a bit dangerous to say a place owes you,” Donald said. ”Certainly, I’ve knocked on the door many times. I’d love to put that tartan jacket on tomorrow.” One who figured to join the battle was Day, but his round went bad right from the start. Tied for the top and playing in the final group, Day came up short of the first green and made bogey. Two holes later he drove into water after hitting some trees way right of the third fairway for a double-bogey 6. The wheels came off for good during an awful stretch around the turn – Day made five bogeys in a six-hole span. His 79 was his highest round of the year and his worst showing in 63 rounds since an 81 last year in the second round of The Players Championship. ”I felt like there was a good score out there today if you hit it in the right spots,” Day said. ”And unfortunately, I just kept missing it in the wrong spots.” Day attempted to take his poor play in stride, signing autographs for fans behind the 18th green. After winning the Arnold Palmer Invitational and The WCG-Dell Match Play, finishing 10th at the Masters, Day said several times this week he was ready for a break – which the PGA Championship winner will get next week. Hoffman also has a score to settle with Harbour Town. He was the 54-hole leader here in 2013, yet ballooned to a 77 in the final round. He looked like he would hold the lead after moving to 8 under, one up on Donald, with a birdie on the 16th hole. Yes, he missed a 6-footer for par on No. 17 and a 17-foot putt from the back fringe on No. 18. ”Hopefully, I can reach down deep,” Hoffman said. ”I know I’ve done it before.” Divots: Jason Bohn continued his up-and-down play in his first tournament back since a heart attack in February. Bohn ballooned to a 4-over 75 on Saturday, a round that including back-to-back double bogeys. … Boeing, the presenting sponsor, showed off another of its 787 Dreamliners to the RBC Heritage crowd. The sleek aircraft glided along the 18th hole over Calibogue Sound before leaving. It’s the fourth time the company, the presenting sponsor of the tournament, has showcased its aircraft with a flyover. … Past RBC Heritage champion Carl Pettersson was among seven players who missed the cut after the third round. … New pro Bryson DeChambeau briefly got himself into the mix with three birdies on his first four holes. He made four bogeys after that and stands five shots back of Donald.last_img read more

Brazil claims Four Nations title in home soil

first_imgRecommended for you Click to comment EGYPT 2021: The best ever placement for Argentina, Hungarian TOP result in 24 years! Argentina beat Japan to stay on the road to 1/4 final ShareTweetShareShareEmail ShareTweetShareShareEmailCommentsThe national team coached by Spanish Jordi Ribera beat Argentina 25-24 on the last day of competition on Saturday and won the Four Nations that took place in Sao Paulo, Brazil. The tournament served as a preparation for all teams for the upcoming World Championship in Qatar.The home team beat Algeria and Egypt on the first two games and finally defeated Argentina on the last day of competition. The South American ‘clasico’ was, as usual, very intense, and unlike the last time they met (Pan American tournament in Uruguay), Brazil won the dispute. The conducted by Eduardo Gallardo took the lead on the first half and went to the locker room with a 12-14 lead on the scoreboard; but on the second half, the brazilians, boosted by its crowd, improved its game and took the advantage that would stretch until the end of the game.Felipe Borges (Montpellier), who captained the Brazilian national team, expressed on the website of the Brazilian Confederation: “We started the tournament in a bad way. We didn’t know much about Algeria and we had a hard time playing against them. Then we improved against Egypt, and against Argentina it was tough as usual, but we managed to make a difference. This tournament was very important for our preparation for Qatar”.Algerian Messaoud Berkouswas the top scorer of the tournament (20 goals) and Brazilian center-back Diogo Hubner was chosen best player of the tournament.Brazil will be in group A in the upcoming World Championship together with host nation Qatar and defending champion Spain; Algeria and Egypt will be in group C with European champion France, while Argentina will be in group D with World’s and Europe’s vice-champion Denmark.All results:30/10Argentina 21:24 EgyptBrazil 29:27 Algeria31/10Argentina 27:15 AlgeriaBrazil 23:20 Egypt1/11Algeria 28:29 EgyptBrazil 25:24 ArgentinaTEXT: LAURA AGENAPhoto credit: Facebook CBHb – Confederação Brasileira de Handebol “DON’T CRY FOR ME CROATIA”: Argentina take BIG European scalp Related Items:argentina, Argentina handball, brazil handball, panamerica handball Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Save my name, email, and website in this browser for the next time I comment.last_img read more

Mark Perrin appointed to the Vermont State Board of Education

first_imgGovernor Shumlin appointed Mark Perrin, a resident of Middlebury, to the State Board of Education on April 12, 2013 to serve a six year term (2013-2019).  Perrin owns and operates Green Peppers Restaurant and Creek Road Farm with his wife, Donna. He has served on local school boards since the mid-1990s, and is a strong believer in life-long learning. Perrin has been actively involved in the community by serving on the Chamber of Commerce Board, Workforce Investment Board, and Middlebury Business Association Board. ‘ This is a great opportunity to take what I’ ve learned from life and to learn from others to positively impact education. It is an honor to be a part of the Board,’ said Perrin after attending his first State Board of Education meeting today. ‘ There are diverse backgrounds and a depth of knowledge on the Board; it was impressive to see public education at work. I look forward to the challenge and to being a productive part of the process.’  The State Board of Education meets monthly; its discussions focus on policy concerning the education of Vermont students and assuring equal access for all Vermont students to a quality education.  The Vermont State Board of Education currently has eleven members:Stephan Morse, Chair, Newfane (term through 2017)Sean-Marie Oller, Co-Chair, Bennington (term through 2017)Lachlan Francis, Co-Chair & Student Rep, Putney (term through 2014)Laura Harris, Student Rep, Williston (term through 2013)Krista Huling, Jeffersonville (term through 2015)Bonnie Johnson-Aten, Montpelier (term through 2018)Margaret MacLean, Peacham (term through 2015)Bill Mathis, Brandon (term through 2015)Stacy Weinberger, Burlington (term through 2019)Mark Perrin, Middlebury (term through 2019)Armando Vilaseca, Secretary of Education More information about the Vermont State Board of Education, including meeting schedules and materials, can be found online: http://education.vermont.gov/new/html/mainboard.html(link is external).last_img read more

Scosche myTREK monitor and app

first_img Related Consumer technology innovator Scosche Industries, has unveiled the Scosche myTREK pulse monitor and app for iPhone and iPod touch. Founded in 1980, Scosche Industries is an award-winning innovator of iPad, iPhone and iPod accessories. The Scosche myTREK allows users to track their pulse, calories burned, distance, speed, pace, store past workouts and much more.After pairing the Scosche myTREK with an iPhone or iPod touch, users are prompted to download the free accompanying app. Once the app is downloaded the myTREK is ready to go and users can begin tracking their training sessions.The myTREK utilizes two LEDs combined with a photo sensor to detect minute changes in the user’s blood pressure to measure pulse. A built-in accelerometer allows the myTREK to adjust for movement during exercise, in tandem with the user’s heartbeat allowing for measurement of pulse and calories burned.Users can personalize their workouts by selecting their type of activity, target training zone and type of workout. A male or female voice prompt updates the user’s progress in real time, letting them know how close they are to accomplishing their goals or if they have moved outside their desired target heart rate zone.Workout data is then stored on the device and can be viewed in the app’s calendar to see what days the user worked out and what was accomplished during each individual workout.The myTREK’s comfortable arm-strap design fits over the muscular portion of the user’s forearm and provides convenient track and volume control. A lithium ion battery provides 5 hours of continuous workout time before the myTREK needs to be charged via an included USB cable. The myTREK ships with small, medium and large sized armbands to ensure an appropriate fit for the consumer.The Scosche myTREK is available now at Apple retail stores, and via 24hourfitness.com, 24-Hour Fitness gyms and Scosche.com for US$129.99. The unit is also due to be listed at Target, Apple.com and Verizon Wireless stores soon.“At 24 Hour Fitness, we know that fitness tools can be very useful in helping people achieve their goals; whether it’s to lose weight, run a faster marathon or to get healthier,” said Bill Quinn, Senior Vice President of Merchandising at 24 Hour Fitness. “We are excited to be a Scosche launch partner for the new myTREK pulse monitor and offer our members another option to support them with their fitness journey.”“Scosche has long been the most popular consumer electronics brand sold in 24 Hour Fitness gyms and on their website,” said Kas Alves, Executive Vice President of Scosche Industries. “We were thrilled when they agreed to carry the myTREK pulse monitor in 286 24 Hour Fitness locations across the US.”www.scosche.comlast_img read more

Coaches’ role addressing injuries shifts with times

first_imgAt the event, which was sponsored by the Tucker Center, sport and exercise psychology associate professor Dr. Diane Wiese-Bjornstal presented her research, which explains how an athlete’s environment affects his or her likelihood of suffering injuries. When an athlete is injured, it is important to his or her well-being to remain directly involved with the team, Wiese-Bjornstal said. Frost also said his team is comfortable in communicating all sorts of issues to the coaching staff, including injuries. This practice is evident with Minnesota’s women’s hockey team. When team members are injured, head coach Brad Frost encourages them to participate in practice by either continuing to learn the game or helping out with drills. “The culture of sport that we have now, especially at the more elite levels, seems to overemphasize performance and underemphasize health,” she said. “To me, they’re equally important, so I would never be willing to sacrifice health for the sake of performance.” By observing past Gophers’ cross country rosters, she found high levels of stress usually follow injuries, and those situations can be amended if coaches play a positive role. Fewer injuries occur when a team’s culture is positive and open, according to the research, and when players are still involved in team activities despite being hurt. “The goal is to make everybody the best athlete they can be,” Merzbacher said. “But you have to put people’s health first.” “The only way our players can perform at their best is if they’re healthy,” he said. By encouraging communication, planning physical and mental recovery processes and effectively reporting injuries, a team’s culture could change.center_img “Coaches are so busy. It’s the X’s and O’s, the parents and so much more that they have to deal with,” she said. “They feel [handling an injury is] someone else’s job.” Now, Wiese-Bjornstal aims to educate coaches to help them monitor injured student-athletes. And several Gophers head coaches already include facets of the associate kinesiology professor’s methods. Unlike some other Minnesota teams where injured athletes play a heavy participatory role, in Merzbacher’s program, injured players solely focus on recovery. “Injuries are a part of athletics. If you’re having an issue, you then have to become an active participant in the training room,” he said. Coaches’ role addressing injuries shifts with times Sam KraemerApril 21, 2015Jump to CommentsShare on FacebookShare on TwitterShare via EmailPrintDozens of female coaches from across the state convened at TCF Bank Stadium on Friday to better understand how collegiate coaches and female athletes work together to address injuries.  At Friday’s event, Wiese-Bjornstal pushed the importance of creating a welcoming culture between players and coaches, and there’s room for teams across collegiate athletics to improve with making athletes feel comfortable. Women’s tennis head coach Chuck Merzbacher said in recent years, his program has improved the communication between player, coach and trainer.last_img read more

Meditation, Exercise Could Protect You From The Flu

first_imgThe Huffington Post: Who knew meditation could be so handy during cold and flu season?A small new study finds that mindfulness meditation and moderate exercise seem to have protective effects against cold and flu, with people who engage in the practices having less severe, shorter and fewer symptoms of acute respiratory infection — and fewer days missed from work due to the sickness — than people who don’t engage in either practice.Specifically, undergoing mindfulness training was linked with a 40 to 50 percent decrease in symptoms, while exercise was linked with a 30 to 40 percent decrease in symptoms, researchers reported, compared with people who did neither activity.“The apparent 40 to 50 percent benefit of mindfulness training is a very important finding, as is the apparent 30 to 40 percent benefit of exercise training,” study researcher Dr. Bruce Barrett, an associate professor at the University of Wisconsin School of Medicine and Public Health, said in a statement. “If this pans out in future research, the impact could be substantive indeed.”Read the whole story: The Huffington Postlast_img read more

Study challenges scientific principle about Alzheimer’s protein amyloid beta

first_imgPinterest Share on Twitter The team at IRB Barcelona has studied the aggregation of two of the most common variants of Abeta, namely Abeta 40 and Abeta 42, with 40 and 42 amino acids, respectively, the latter being the variant most closely associated with Alzheimer’s disease. The literature reports that while Abeta 40 self-aggregates to sequentially form dimers (two units), trimers (three units) and tetramers (four units), Abeta 42 self-aggregates to form pentamers (five units) and hexamers (six units). These findings have been cited more than 1000 times and consequently numerous studies have been based on this premise. However, IRB Barcelona researchers Rosa Pujol-Pina and Sílvia Vilaprinyó-Pascual, the first two authors of the study, have observed that Abeta 40 and Abeta 42 goes through exactly the same aggregation states.The authors uphold that the results published to date are biased by the technique most widely used to study Aβ aggregates. The technique in question, SDS-PAGE, is characterised by the need for a small amount of sample and therefore is used for more straightforward studies. Using a new approach based on mass spectrometry and computational modelling and in collaboration with the IRB Barcelona groups headed by Marta Vilaseca and Modesto Orozco, respectively, Dr. Carulla’s team has observed that both Abeta 40 and Abeta 42 form dimers, trimers and tetramers and that in these initial stages these aggregates are spherical lacking defined structure.“The structure that we have observed challenges the kind of structure accepted until now, the so-called beta-sheet. It should be noted that up to now drug design has been based on the premise of interfering with the beta-sheet structure. We believe that this strategy should be reconsidered and recommend caution when using SDS-PAGE to study Abeta oligomers,” states Sílvia Vilaprinyó-Pascual. The experiments on aggregation have been performed with several techniques, including SDS-PAGE. “This study will lead to reservations on the part of the scientific community and that is why we have been thorough and present methodologically robust data,” says Natàlia Carulla.Carulla’s team is now working on the identification of therapeutic molecules that prevent the formation of the first amyloid beta aggregates. Share LinkedIncenter_img Share on Facebook Email Scientific Reports, a Nature group journal, has recently published results that challenge the findings of studies to date on the initial aggregates formed by amyloid beta, a protein closely associated with the onset and development of Alzheimer’s disease.Headed by Natàlia Carulla, a specialist in biomedical chemistry at the Institute for Research in Biomedicine (IRB Barcelona), the study focuses on the number of molecules and shape that this protein has when it begins to aggregate, a process that leads to the so-called Abeta fibrils, the main components of the plaques observed in the brains of those suffering from Alzheimer’s disease.“Comprehensive knowledge of the number of units and conformation of Abeta at the initial stages of aggregation is crucial for the design of drugs capable of breaking them up or preventing their formation,” explains Natàlia Carulla.last_img read more