Customer Protection Research Articles

Regulatory Impact Assessment (RIA): an Ex-Post Analysis of Water Services by the Legal Review in Portugal

This paper adopts an ex-post regulatory impact assessment (RIA) to analyze the effects of Law no.194/2009 on public-private partnerships (PPP) in the water sector in Portugal. Although the water services have been improving concerning coverage and safety since 1990, any change in regulation can have both “positive and negative” consequences either for customers, providers or local governments. This context can provide the opportunity to observe a national experiment of regulatory reform and assess its outcomes based on the following multiple targets: (i) customer protection; (ii) governance; (iii) financial, infrastructure and operational sustainability; and (iv) environmental improvement. To evaluate the impact of this legal reform, three steps were considered: (i) the status quo, scenarios and perspective; (ii) assessment; and (iii) consultation. Additionally, two aid methods were used: (i) expert opinions (Delphi) and (ii) multicriteria decision modelling method (TOPSIS) based on similarity distance to ideal solution. In fact, Law no.194/2009 reduced the gap in terms of performance between the concessions, but amplified the contrasts when all perspectives are compared. Regarding policy objectives, the major gap to overcome in a possible review of this legal framework is linked to the “economic-financial, operational and infrastructural sustainability objective”. Failures in any of these aspects can result in an ongoing PPP not meeting customer, municipality and concessionaire’s expectations.

KAJIAN HUKUM MENGENAI PERANAN LPS DALAM PENJAMINAN DANA NASABAH PADA PERBANKAN DI INDONESIA

Undang-undang Nomor 10 Tahun 1998 tentang Pemerintah Daerah mandates the establishment of a LPS (Deposit Insurance Agency) as the executor of the guarantee of public funds. one approach is needed separately to build a healthy banking system and strong is to give customers assurance that eksplisif for storage. LPS can function regulate safety and health of banks in general and conduct oversight by monitoring the balance, the practice of lending and investment strategies.
 In establishing a permanent guarantor institutions needed reform measures of the banking system as a prerequisite for effective system. Two basic reasons for the government to facilitate the establishment of LPS is the belief in the banking industry is very important for economic growth and the banking system is well controlled to minimize the occurrence of bank insolvency, and bankruptcy itself can be predicted and is an event that can be prevented. Also crucial is also a consideration equal protection of small customers from bankers who are not responsible is an approach that is fair and appropriate. In such conditions the bank can operate in a consistent and reliable to provide credit in the amount sufficient for the health of the economy.

How Do Social Media Affect Analyst Stock Recommendations? Evidence from S&P 500 Electric Power Companies' Twitter Accounts

Research summary: The importance of firm‐stakeholder relationships is gaining increasing attention. Although a theory of the drivers and consequences of stakeholder pressure has been developing, it focuses on pressures from organized stakeholders such as shareholders, NGOs, and activists, and does not incorporate the emerging possibility that individual voices may matter. By exploring corporate Twitter, which facilitates movement of individual stakeholders such as customers to a higher stakeholder class by providing them with a greater sense of power and urgency, we study the circumstances under which customer voices significantly affect analyst stock recommendations. We find that favorable reactions to firm‐initiated messages matter, directly or indirectly, depending on the messages' growth implications. Customer‐initiated negative messages have a significant impact only with high volume and formal institutions that support customer opinions.Managerial summary: Social media is increasingly used by firms for disclosing information and engaging stakeholders. Yet, we know little about whether and how social media usage matters. We show how corporate Twitter usage may influence analyst stock recommendations. Our interviews of securities analysts suggest that social media is not institutionalized yet, but increasingly used as a source of channel checks, especially for vibes, validations, and so on. Our analyses of corporate Twitter accounts show that both firm‐initiated and customer‐initiated tweets can have significant impact on analyst recommendations under certain conditions. For firm‐initiated tweets, the extent of retweets is an important factor, along with the content of tweets, in particular, growth implications. For customer‐initiated tweets, negative tweets matter, but only with high volume and regulatory structure that supports customer protection. Copyright © 2017 John Wiley & Sons, Ltd.

SWIFT’s customer security programme: Preventing, detecting and responding to the growing cyber threat

In response to the rapid escalation in cyber threats, SWIFT has put in place a Customer Security Programme (CSP) — a dedicated programme to support customers in reinforcing the security of their SWIFT-related infrastructure. The CSP addresses three key aspects: the security and protection of customers’ local environments, their counterparty relationships and the role the financial community can play by acting together to stay ahead of cyberattacks. Although it is more complex to execute cyber-attacks on securities-related transactions compared to payment transactions, the securities world should not disregard the threat. This paper addresses specific areas of attention for securities operations and provides a view on how the CSP can provide additional guidance, tools and services to help institutions bolster their IT fraud prevention and detection capabilities, and stay aware of new attack vectors, as well as methods to help defend against them.

Microgrid to enable optimal distributed energy retail and end-user demand response

In the face of unprecedented challenges in environmental sustainability and grid resilience, there is an increasingly held consensus regarding the adoption of distributed and renewable energy resources such as microgrids (MGs), and the utilization of flexible electric loads by demand response (DR) to potentially drive a necessary paradigm shift in energy production and consumption patterns. However, the potential value of distributed generation and demand flexibility has not yet been fully realized in the operation of MGs. This study investigates the pricing and operation strategy with DR for a MG retailer in an integrated energy system (IES). Based on co-optimizing retail rates and MG dispatch formulated as a mixed integer quadratic programming (MIQP) problem, our model devises a dynamic pricing scheme that reflects the cost of generation and promotes DR, in tandem with an optimal dispatch plan that exploits spark spread and facilitates the integration of renewables, resulting in improved retailer profits and system stability. Main issues like integrated energy coupling and customer bill reduction are addressed during pricing to ensure rates competitiveness and customer protection. By evaluating on real datasets, the system is demonstrated to optimally coordinate storage, renewables, and combined heat and power (CHP), reduce carbon dioxide emission while maintaining profits, and effectively alleviate the PV curtailment problem. The model can be used by retailers and MG operators to optimize their operations, as well as regulators to design new utility rates in support of the ongoing transformation of energy systems.

PERLINDUNGAN HUKUM BAGI NASABAH BAITUL MAAL WA TAMWIL (BMT) YANG DILIKUIDASI DI INDONESIA

Baitul Maal wa Tamwil (BMT) is one type of micro finance institution that uses sharia principles. The BMT contributes to a real small economic by providing financing and channeling of funds. But the problem arises when liquidation occurs on the BMT, which rules should be used as a rule to solve it. This paper discusses the legal protection for BMT customers who are liquidated in Indonesia. The aim is to explain how legal protection forms for customers and why this legal protection is necessary for customers. The analysis used is statute approach and a conceptual approach. The legal basis of protection for BMT customers is Law no. 1 of 2013 on Microfinance Institutions (LKM), particularly articles 24 and 25, which regulate the prevention of disputes or revocation of licenses. Article 26 states that the Financial Services Authority (OJK) provides a deposit service if it makes them lose. But if BMT incorporated in the form of cooperative (koperasi) the law that use as basis is Law No. 25 of 1992, especially article 54 on the settlement. Differences in this rule become one of the factors slow the settlement of the problem of BMT customers that liquidated. The government should provide clear rules regarding the institutional status of BMT, so that the settlement of client's legal protection becomes clear

Ambulance Cross-Border Operations Along the U.S.-Mexico Border: Current Practices in the El Paso-Ciudad Juarez Region

Background Binational metropolitan regions consist of two or more different municipalities from two different countries connected by Ports-of-Entry (POEs). The El Paso-Ciudad Juarez binational metropolitan region has a population of approximately 2.5 million. Patients suffering from certain life-threatening conditions are frequently emergency-transported from Ciudad Juarez to a hospital in El Paso to receive specialized medical care. This research evaluated current ambulance cross-border operation protocols and practices followed in the El Paso-Ciudad Juarez region to transport these patients. Methods This research was conducted in two stages. In the first stage, researchers conducted an extensive literature review to identify ambulance cross-border operation protocols currently in place worldwide. In the second phase, researchers used a series of meetings with agencies and organizations involved in the medical emergency transportation process in the El Paso-Ciudad Juarez region to characterize the problem and document the processes and protocols used by these agencies. The agencies included Mexican ambulance operators, U.S. Customs and Border Protection (CBP), and the El Paso Fire Department (EPFD). Results Mexican ambulances transport patients to one of the POEs that connect Ciudad Juarez with El Paso. Once the Mexican ambulance arrives at the border, it has to wait in line with the rest of the passenger vehicles. As border officials realize an ambulance is approaching the border, they divert traffic so the ambulance can reach the CBP inspection booth as soon as possible. Then, officers quickly check the patient’s documentation and call EPFD. The Mexican ambulance is then directed to a CBP secondary inspection facility so the patient is transferred to the EPFD ambulance. Finally, the patient is transported from the inspection facility to the hospital by the EPFD ambulance, and the Mexican ambulance returns to Mexico. The process involves multiple entities from both countries and one patient transfer. Conclusions There is no formally agreed upon protocol to expedite ambulance cross-border operations between agencies and organizations on both sides of the border in the El Paso-Ciudad Juarez region. Each entity follows its own informal and independent operation protocol to the best of its ability. Therefore, the total transport time for patients that need to be emergency-transported from Ciudad Juarez to a hospital in El Paso to receive medical care can often exceed three hours. An improvement of the transportation time subsequently may impact the clinical outcome of these patients. The situation is similar in other binational metropolitan areas along the U.S.-Mexico border.

Importance of Expediting Ambulance Cross-Border Operations in the El Paso-Ciudad Juarez Bi-national Region

Background The El Paso (U.S.)-Ciudad Juarez (Mexico) bi-national region has a population of approximately 2.5 million and thousands of people who commute daily across borders for work, shopping, and family visits. As a result of the high daily commuting activity, it is not uncommon for U.S. residents to face the need of emergency medical transportation to a hospital in El Paso as a result of a sudden medical condition (e.g. stroke or heart attack). These patients are currently transported from Mexico to a U.S. hospital through one of the Ports of Entry (POEs) that connect these two cities. However, current regulations do not allow Mexican ambulances to operate in the U.S. Therefore, Mexican ambulances must wait in line with the rest of passenger vehicles trying to enter into the U.S. Once at the border, a U.S. Customs and Border Protection (CBP) officer check the patient's information, and calls El Paso Fire Department (EPFD) requesting an ambulance to pick up the patient at the POE. This lengthy process along increasing wait times at the POEs and traffic congestion levels in Ciudad Juarez significantly delay the patient's arrival to the U.S. hospital. Methods EPFD receives around 400 emergency calls every year from CBP officers at POEs requesting an ambulance. EPFD prospectively collect data about dispatch calls, time of the call and types of patients transported according to medical and trauma conditions. Data from March 2011 to September 2015 were analyzed, a descriptive analysis was performed based on the year, month, and day of the week or time of the day and patient condition. Results The number of emergency calls at the El Paso-Ciudad Juarez POEs has steadily increased over time, going from 178 in 2011 to 479 in 2014, an increase of 270% in three years. Approximately one third of all calls were made during weekends. In 2011, 2012, 2013 and 2014 the EPFD received a total of 13, 42, 37 and 26 weekend calls reporting patients in critical conditions respectively. Conclusions The number of patients that need to be transported from Ciudad Juarez to El Paso to receive emergency care has grown every year since 2011. Current transportation practices require a significant amount of time and time plays a vital role in the recovery of critical condition patients. There is a need of an agreed upon ambulance cross border operations protocol among all parties involved that expedites the overall transportation process.

Are your customer accounts in order? – SEC announces sweep of broker-dealers and implementation of the customer protection rule initiative

PurposeTo explain the Customer Protection Rule Initiative announced by the Securities and Exchange Commission (SEC) and offer practical guidance for complying with Rule 15c3-3 under the Securities Exchange Act of 1934.Design/methodology/approachThis article discusses Rule 15c3-3 under the Securities Exchange Act of 1934, related interpretative guidance, and the Customer Protection Rule Initiative announced in June 2016 by the SEC.FindingsThis article concludes that broker-dealers should take advantage of the Customer Protection Rule Initiative’s self-reporting mechanism and use this time to review their current account arrangements with banks, existing internal policies and procedures, and account documentation.Originality/valueThis article contains valuable information about the SEC’s Customer Protection Rule Initiative and practical compliance guidance from experienced securities lawyers.

PERLINDUNGAN NASABAH DEBITUR TERHADAP PERJANJIAN BAKU YANG MENGANDUNG KLAUSULA EKSONERASI PADA BANK UMUM DI BANDARLAMPUNG

Legal protection for debtor as a consumer in banking becomes important which the position of the some parts of credit contract is not balanced. Bank prefer to have a strong bargaining position, so the bank based on the reason of efficiency makes standard contract contain exoneration clause that incriminating debitors. The Government’s Determination Law No. 8 of 1999 on Consumer Protection has been set up the opposition to banning the use of the standard contract. Similarly, the Financial Services Authority (FSA)/ Otoritas Jasa Keuangan (OJK) carried out a function of supervising the financial institution has issued POJK No. 1/POJK.07/2013 on Consumer Protection of Financial Services Sector. The regulations issued to protect consumers especially financial services sector. The result showed that credit contract of the commercial bank in Bandar Lampung still contains exoneration clause that prohibited on The Government’s Determination Law No. 8 of 1999 on Consumer Protection and OJK Regulation No.1/POJK.07/2013 on Consumer Protection of Financial Services Sector. There is a clause that requires the debtors to submit all bank’s guidance and regulations, either already exist or will be set later. The legal consequence of the implementation of exoneration clause in credit contract is the contract can be canceled by law as mentioned in Article 18 paragraph (3) The Government’s Determination Law No. 8 of 1999 on Consumer Protection. The legal protection of debtor as a consumer of banking service has been arranged by the regulations, but the implementation has not effective because still there are abuses by the bank. Therefore, the active role of Financial Services Authority to conduct monitoring and providing strict sanctions to banks that violate the rule. Furthermore, need education for community and have to make a format of standard contract that compatible with rules which formulated by the Financial Services Authority (FSA)/ Otoritas Jasa Keuangan (OJK). Keywords: Exoneration, Clause, Customer Protection, Standard Contract

Aspectos y enfoques éticos dentro del quehacer conductual

En este trabajo se aborda el tema de la ética conductual en sus aspectos conceptual, metodológico y tecnológico. En el plano conceptual se discuten problemas fundamentales y mecanismos explicativos del comportamiento moral. En el plano metodológico uno se refiere a la ética relacionada con la ciencia de la conducta en sí, y otro aborda la ética en las relaciones entre la ciencia del comportamiento y la sociedad. El plano tecnológico implica mantener el contacto entre la investigación experimental y la práctica tecnológica con fundamento científico y buena probabilidad de eficacia, además de seguir protocolos de respeto y protección al cliente.

Peranan Dewan Pengawas Syariah terhadap Praktik Kepatuhan Syariah dalam Perbankan Syariah di Indonesia

This research is to analyze the role of DPS (Dewan Pengawas Syariah or Sharia Supervisory Board) towards the practice of sharia obedience with the perspective of customer protection in sharia banking in Indonesia. This research adopted the analysis method based upon the doctrinal content by applying four types of legal approach including:Â (i) history; (ii) Fiqh/philosophy; (iii) comparison and (iv) analysis and critical. In addition, the approach alignment is also needed for the legislative alignment with Islamic philosophy and customer protection philosophy. The result of the research concluded that any violation in sharia obedience neglected by DPS will negatively impact the image and credibility of sharia banking to public; thus, it can bring an impact on the public trust. For this reason, the roles of DPS in sharia banking needs to be optimized, for instance related to the qualification of DPS appointment must be tighter and the support to its roles must be realized in sharia banking. DSN MUI as an institution issuing the fatwa (binding ruling) can make the coordination and equalize the perception with the DPS posted in sharia banks in Indonesia in supervising the operation of sharia bank to make it really playing a role and ready to run its task as the DPS.

Quality Protection of Capital Goods Based on Inherent Component Characteristics

Capital goods and their components have to be clearly identifiable along the entire value chain for the transparency of the market. This is necessary for the confidence in the component quality and the enforceability of accountability. Identification procedures must be counterfeit-proof for a reliable transparency. This allows trustworthy traceability and an enhanced quality protection.Identification procedures are only counterfeit-proof, if the identifiable features cannot be reproduced, even after the publication of the technical process for the identification. Therefore, an identification procedure called Batch-Fingerprint is investigated. The procedure considers stochastic characteristics related to the elemental composition of the component. The Energy-dispersive X-ray Spectroscopy (EDX) and Optical Emission Spectrometry (OES) are used to analyze these component properties. In this paper, the influencing factors to evaluate the Batch-Fingerprint are analyzed. The paper discusses the difference between material dependent, process dependent and measurement dependent influencing factors. The factors are analyzed regarding their influence on the elemental composition and the resulting evaluation of the fingerprint. With the knowledge of the important influencing factors for the evaluation, the elemental composition can be measured correctly. Thereby, a diagnostically conclusive fingerprint can be detected, which can be identified even in the final product. This provides quality protection for manufactures and customers. Manufacturers can thus be protected against unauthorized liability actions, since the origin of a capital part can be traced at any time within the lifecycle of the product. Customer can use the Batch-Fingerprint for unique identification of the capital goods. All customers involved in the value chain can test the originality and the quality of a supplied component to protect themselves against counterfeited components.

Peran Badan Penyelesaian Sengketa Konsumen dalam Pengawasan Klausula Baku di Kota Palembang

This research studies the role of BPSK (Badan Penyelesaian Sengketa Konsumen or Costumer's Conflict Resolution Board) in Palembang city in supervising the standard clause and any hindrances in that supervision. This research used the juridical-empirical research method supported by the regulatory approach and case approach. The result of the research showed that the role of BPSK in the supervision of inclusion of standard clause until recently is not applied well. This is due to BPSK simply waits for any complaints from customers and there is no any follow up from BPSK. Meanwhile, the hindrances in the supervision of standard clause are related to the absence of the regulation of implementation as amended in Article 52 letter (e) Law of Customer Protection. BPSK is not a judicial institution, and the operational cost of BPSK is burdened by local budget (APBD) coming from the customers, business actors and government that have a different culture.

Determination of Common Adulterants in Herbal Medicine and Food Samples using Core-shell Column Coupled to Tandem Mass Spectrometry.

High-performance liquid chromatography coupled to tandem mass spectrometry was used to develop and validate a rapid method to qualitatively and quantitatively analyse 18 common adulterants in herbal medicine and food samples. Initially, the mobile phase composition was optimized in three different columns: core-shell, monolithic and standard 3.5-µm-particle-size columns. The results show that the core-shell column provides the best separation. Moreover, the tandem mass spectrometry was optimized. The linear range for all adulterants was 0.5-500 μg mL-1. Finally, the samples that were supplied by the Public Authority of Customer Protection, Ministry of Health, and those collected from the local market were analysed. The results indicate that 7 of 33 analysed samples contained adulterants. The adulterated samples mainly contain sildenafil, tadalafil or vardenafil. The concentrations of these three adulterants in the samples were 0.18-39 wt%. This study is the first report in the Sultanate of Oman about adulteration in herbal medicine and food samples. The results clearly raise some concern and require proper plan of action to increase public awareness about this serious issue.

SENGKETA KONSUMEN DAN TEKNIS PENYELESAIANNYA PADA BADAN PENYELESAIAN SENGKETA KONSUMEN (BPSK)

The use of products on goods and services by customer potentially creates conflicts due to material lost suffered by the customers as the result of using particular products. The Acts Number 8 Year 1999 of Customers Protection provides customer with a right to work out any conflicts by consulting a costumer’s conflict resolution board (BPSK). The resolution of the conflicts is achieved through such processes as mediations, conciliations and arbitration which involve three elements: government, businessmen, and customers. All verdicts made by BPSK in the form of mediation and are final and legal. However, the arbitration ones are possible to be proceeded to the trials. Kata kunci: sengketa, konsumen, BPSK

PERLINDUNGAN HUKUM PENGGUNA JASA ELECTRONIC BANKING (E-BANKING) DI TINJAU DARI PERSPEKTIF HUKUM PIDANA DI INDONESIA

Crime e-banking frequent one ATM card forgery. The perpetrators made a complete fake ATM cards with a magnetic stripe that already contains data records of card fraud. In addition to falsify the card, the perpetrators also know the PIN number of the card is duplicated / forged. ATM card forgery or duplication can be done because the necessary equipment to do so can be easily obtained in the market. This study uses normative legal approach by researching library materials or secondary data only, which relates to the legal protection of e-banking customers in the perspective of criminal law, using the approach of legislation, conceptual and historical. The study says that the legal protectiongiven to customers when there is a loss in e-banking transactions are bank provides its customers the facility if the losses caused by the e-banking, the bank facilitates its customers by providing legal assistance in litigation and non-litigation. 2) The legal protection of the victims of the features of e-banking in the standpoint of criminal law, is shared by the two concepts, namely the protection of the law implicitly and explicitly, of the concept of legal protection that customers have the force of law if the victim of the implications that exist within an e -banking.

기업의 국제화에 영향을 주는 요인에 관한 연구 -사회적 책임활동을 중심으로-

본 연구는 기업의 국제화와 기업의 사회적 책임(CSR)활동의 연관성을 살펴보고자 하였다. 연구를 위하여 경제정의연구소에 2013년-2014년도에 발표된 200대 기업들을 대상으로 기업들의 CSR활동정도를 파악하기 위하여 경제정의지수(KEJI Index)를 활용하였다. 연구대상 기업은 총 286개 기업이다. 연구결과는 다음과 같다. 첫째, 기업의 국제화 정도에 따라 CSR활동의 차이를 살펴본 결과 기업의 국제화 정도에 따라 CSR세부활동별 유의적인 차이가 있는 것으로 나타났다. 대체적으로 국제화 정도가 높을수록 적극적인 CSR활동을 하는 것으로 나타났으며, 특히 환경경영과 소비자보호 활동을 적극적으로 하는 것으로 나타났다. 둘째, 기업의 국제화에 영향을 주는 요인에 있어서 환경 경영과 소비자보호가 유의한 영향을 주는 것으로 나타났다. 국제화 비중이 높은 기업의 경우, 환경경영과 소비자보호 활동을 중요하게 생각하고 이에 대한 활동을 적극적으로 하는 것으로 나타났다. 본 연구는 국제화 시대의 CSR활동의 중요성에 대해 제시하고, 국제화에 영향을 주는 CSR세부활동의 영향력을 규명함으로써, 기업의 지속가능경영을 위한 CSR활동과 전략을 제시하였다. The purpose of this study was to examine the relationship between corporate social responsibility and internationalization. The companies executed the CSR activity using the published index of economic justice (KEJI index) surveyed from 2013 to 2014. A total of 286 companies were included in the study. Results are as follows. First, the degree of internationalization groups showed significant differences. It found that the higher the proportion of international companies showed positively CSR activities. Especially, It found that environmental management and customer protection showed positively performed. Second, environmental management and customer protection showed positive effect on firm internationalization. It found that the higher the proportion of international companies thought environmental management and customer protection activity were more important. This study proposed that CSR activity are very important in firm performance. It showed CSR activities and strategy are presented for sustainable management.

Protection of Consumer Rights and Interests. Case of Kosovo

The paper presents an overview of the strategy and process of protection of customer rights and interests in Kosovo. The rights and interests of consumers in the domestic market are still not adequately protected, in a manner and form as is done in most countries of the European Union. The origin of the protection of the rights and interests of consumers in Kosovo began in 2004, with the approval of Consumer Protection Law (Law no. 2004/17) by the Kosovo Assembly. After the declaration of independence in 2008 and the approval of the Kosovo’s Constitution, a specific attention is paid to the customer protection where “consumer protection is guaranteed in accordance with the law” (Constitution of the Republic of Kosovo, Chapter IX, Section 119, paragraph 7).

The ‘Uberization’ of the labour market: some thoughts from an employment law perspective on the collaborative economy

New collaborative economy models are influencing existing businesses. The most visible examples of the collaborative/platform economy involve renting apartments, sharing cars (TNC) and the delivery of goods and services. Surveys reveal significant economic potential within the collaborative economy but also a large degree of uncertainty regarding rights and obligations (liabilities, protection of customers, regulatory framework, tax and social security treatment of the income derived, employment status,…). But the collaborative platform economy also increases competition, changes consumer behaviour and creates challenges. The subject is high on the political agenda of the EU’s Digital Single Market Strategy and an impressive number of court cases are being launched to clarify things. This article focuses on the employment law structure of the collaborative economy/platforms from an EU perspective.