National Supervisors Research Articles

Pengawasan Pelaksanaan Akad Notaris pada Perbankan Syariah oleh Dewan Pengawas Syariah

The rapid development of Islamic banking institutions must be supported by effective supervision so that operations are more efficient, so the Sharia Supervisory Board was formed by the National Supervisory Board (DSN) to oversee the application of sharia principles in Islamic banking. This research aims to find out the role of the Sharia Supervisory Board in supervising Islamic financial institutions in Indonesia and the Sharia Supervisory Board (DPS) related to supervising the implementation of contracts by Notary. The method used in this research is doctrinal legal research method using secondary data related to Islamic banking. The results of this study indicate that DPS supervision in Islamic banking is not optimal, which has an impact on the supervision of contracts in Islamic banking, as seen from the many problems in Islamic banking in the form of contract violations contrary to sharia principles. The conclusion of this problem is that the Sharia Supervisory Board (DPS) has not optimally carried out its supervision according to its rules to ensure compliance with sharia principles, as supervisors of Islamic banks must oversee every stage of the financing process to ensure the legal protection of their customers.

The implementation of long-term prudent valuation models across the UK and Mainland Europe for financial regulation purposes

ABSTRACT The Basel 3 guidance on bank regulation includes a new definition of real estate valuation which differs from existing bases. Prudently conservative valuation or prudent value includes four criteria which include the exclusion of ‘expectations of price increases’ and it must be ‘adjusted to take into account the potential for the current market price to be significantly above the value that would be sustainable over the life of the loan’. ‘National supervisors should provide guidance’ and ‘If a market value can be determined, the valuation should not be higher than the market value’. Prudent value has synergies with existing post Global Financial Crisis (GFC) debates concerning long-term valuations for commercial real estate bank loan origination and monitoring purposes. This paper outlines the concepts of long-term and prudent values in more detail, reviews the literature on long-term valuation and develops a framework for prudent value. It also puts that literature into a wider perspective on the analysis of market cycles and portfolio disaggregation within performance measurement, and suggests ways in which the property industry could implement the current Basel 3 prudent value proposals.

Perspektif Maslahah Mursalah Penggunaan Fintech Syariah Dalam Investasi

This study aims to analyze the use of Sharia Fintech in investment from the perspective of Maslahah Mursalah on the Shafiq Website and Application. The research method used is a literature study, where data is collected through understanding and reading the literature related to the problem that is the focus of the research. This research is a review conducted to solve a problem, with a focus on critical and in-depth analysis of relevant and analytical library materials. The analysis method involves descriptive analysis and content analysis to draw conclusions. The results show that Shafiq's use of sharia fintech, particularly the crowdfunding system, has been formalized and is under the supervision of the National Supervisory Board, and is in accordance with regulations from OJK and DSN MUI. Shafiq has implemented sharia principles, including the prohibition of usury, gharar, and dzalim, with the aim of providing security and convenience in investing in accordance with sharia principles, as well as avoiding harm in accordance with the concept of Maslahah Mursalah.

Integrated care competencies and their association with cross-cultural competence among registered nurses: A cross-sectional questionnaire survey.

To examine the association between the integrated care competencies and cross-cultural competence of registered nurses prior to the integration of social and healthcare services in Finland. A descriptive correlational cross-sectional questionnaire survey was conducted. A simple random sample of 10,000 registered nurses was drawn from the Finnish Central Register of Valvira (National Supervisory Authority for Welfare and Health); 7000 of them were sent the online questionnaire, and a total of 1232 registered nurses participated in the study. We collected data using background questions, revised versions of the Competent Workforce for the Future tool in the four domains of client orientation, responsibility for personal or relative's welfare, fluency and clarity of services and access to the services and of the Cross-Cultural Competence of Healthcare Professional tool in the four domains of motivation/curiosity, attitude, skill and emotion/empathy. Participants demonstrated a high level of integrated care competencies (mean = 4.00, SD ± 0.49). An association was observed between integrated care competencies and their domains of skills, motivation/curiosity, emotions/empathy, and cross-cultural competence (p < 0.001). Female sex, older age, more working experience, employment in the private sector, and higher self-rated competence for working in a multicultural environment were positively associated with higher integrated care competencies. It is recommended that nurse managers and nurse educators emphasize the development of registered nurses' cross-cultural competence alongside integrated care competencies to meet the needs of different individuals and communities when providing integrated care. Finnish registered nurses including all types of nurses, midwives and paramedics working the public and private healthcare, were involved in this study by responding to the online survey.

Does Greater Transparency Discipline the Loan Loss Provisioning of Privately Held Banks?

Whether transparency helps or hurts the stability of the financial system is an unresolved question. Recent trends have seen a decline in disclosure requirements especially for small and privately held banks. To assess the consequences of such regulations, we investigate the relationship between the transparency of loan loss provision disclosures and the provisioning practices of privately held banks. We study a unique change in disclosure regulation under German banking law which introduces mandatory disclosures of loan loss provisions. Using proprietary data provided by the national supervisor, we are able to observe provisioning practices before and after disclosure becomes mandatory. Our findings suggest that bank managers use loan loss provisions to a lesser extent for income smoothing once they are required to disclose their accounting choice. At the same time, provisions become timelier and loan portfolio quality improves. The change comes in the absence of capital market pressure and highlights the role of depositors and public pressure in the monitoring and disciplining of bank managers. Overall, these findings support the view that bank transparency helps establish financial stability.

Bank market power and supervisory enforcement actions

This paper investigates the relationship between supervisory enforcement actions and bank market power. Employing a unique dataset on enforcement actions in Italy from 2006 to 2018, we first document that banks with higher market power are more likely to escape public scrutiny. Further, this effect is more substantial for local banks than commercial ones, coherent with the view that national supervisors are softer when dealing with local banks. Second, when uncovering the main characteristics of the banks with higher market power, we find that banks with higher market power do not outperform other banks in profitability but show a worse loan quality, suggesting that banks with higher market power have riskier loan portfolios than other banks and attract fewer enforcement actions. Our results are robust across several econometric techniques and alternative specifications by contributing to the long-lasting debate on the implications of the bank market power on financial stability, considering the role of enforcement actions.

To Study the Formulation Power of Supervisory Regulations of the National Supervisory Commission

To Study the Formulation Power of Supervisory Regulations of the National Supervisory Commission

Applicability of drug-related problem (DRP) classification system for classifying severe medication errors

BackgroundSeveral classification systems for medication errors (MEs) have been established over time, but none of them apply optimally for classifying severe MEs. In severe MEs, recognizing the causes of the error is essential for error prevention and risk management. Therefore, this study focuses on exploring the applicability of a cause-based DRP classification system for classifying severe MEs and their causes.MethodsThis was a retrospective document analysis study on medication-related complaints and authoritative statements investigated by the Finnish National Supervisory Authority for Welfare and Health (Valvira) in 2013–2017. The data was classified by applying a previously developed aggregated DRP classification system by Basger et al. Error setting and harm to the patient were identified using qualitative content analysis to describe the characteristics of the MEs in the data. The systems approach to human error, error prevention, and risk management was used as a theoretical framework.ResultsFifty-eight of the complaints and authoritative statements concerned MEs, which had occurred in a wide range of social and healthcare settings. More than half of the ME cases (52%, n = 30) had caused the patient’s death or severe harm. In total, 100 MEs were identified from the ME case reports. In 53% (n = 31) of the cases, more than one ME was identified, and the mean number of MEs identified was 1.7 per case. It was possible to classify all MEs according to aggregated DRP system, and only a small proportion (8%, n = 8) were classified in the category “Other,” indicating that the cause of the ME could not be classified to specific cause-based category. MEs in the “Other” category included dispensing errors, documenting errors, prescribing error, and a near miss.ConclusionsOur study provides promising preliminary results for using DRP classification system for classifying and analyzing especially severe MEs. With Basger et al.’s aggregated DRP classification system, we were able to categorize both the ME and its cause. More research is encouraged with other ME incident data from different reporting systems to confirm our results.

The birth of the new anti-money laundering authority: harnessing the power of EU-wide supervision

PurposeThis paper aims to critically examine the European Union’s legislative initiative to establish an Anti-Money Laundering Authority (AMLA), which will introduce union-level supervision and provide support to national supervisors in the field of anti-money laundering and countering the financing of terrorism (AML/CFT), as well as to financial intelligence units (FIUs) in European Union (EU) member states. The paper discusses why this initiative was deemed necessary, which are the key objectives, rules and principles of AMLA and which challenges and opportunities will emerge as AMLA becomes operational.Design/methodology/approachThis paper draws on reports, legislation, legal scholarship and other open-source data on the EU legislative initiative to establish a new AMLA.FindingsAMLA will provide a comprehensive framework for EU-level AML/CFT supervision and for cooperation among FIUs. If all organisational challenges are properly addressed, the new authority will significantly enhance the EU’s ability to tackle money laundering and terrorism financing.Originality/valueTo the best of the author’s knowledge, this study is one of the first to examine the mission, governance and supervision mechanisms of the EU’s AMLA, as well as the challenges and opportunities associated with its functioning.

Revealing a gap in the clinical competence of nursing staff in nursing homes: a cross-sectional study with the Ms. Olsen test

BackgroundNursing staff, caring for frail older people in long-term care, needs to have a certain level of clinical competence to identify diseases at an early stage and to assess and provide good nursing care. In Finland, nursing care is based on evidence-based and high-quality nursing care. However, earlier inspections by the National Supervisory Authority for Welfare and Health showed many discrepancies between the nursing staff’s clinical competence and adequate and continuous education.AimThis study aimed to explore nursing staff, i.e. the clinical competence and decision-making skills of registered and practical nurses in nursing homes for older people in Finland and to analyse the association between nurses’ clinical competence and fundamental background factors.MethodsWe conducted a cross-sectional study of 337 participants in 50 nursing homes in the western part of Finland, between December 2020 and January 2021. The instrument used was the validated Ms. Olsen test, an extraction of NOP-CET. Statistical analyses were conducted with descriptive statistics and correlations and a cut-off for clinical competence.ResultsThis study with the Ms. Olsen test revealed that only one-fourth of the RNs and a third of the PNs passed the clinical competence test. In the self-evaluation, almost all participants evaluated themselves with good clinical competence. The Finnish Current Care Guidelines were used on a daily basis by 7.4% and weekly by 30%. Significant correlation was found between Swedish as a working language and mother tongue and the score for clinical competence.ConclusionThe clinical competence test, the Ms. Olsen test, was used in Finland for the first time to evaluate the nursing staffs´ clinical competence in nursing homes. We found gaps in the clinical competence in Finnish nursing homes, both for PNs and RNs. The result differed remarkably from their self-assessments and the staff did not use the national nursing guidelines as required to develop their nursing skills and knowledge. Gaps in the clinical competence have been identified and can be used to develop targeted continuous education.

Lucky Beneficiaries or Collateral Damage? The Irregular Timing and Arrangement of Chinese Watchdog Agencies

Exemplified by China’s installation of its National Supervisory Commission, the rise and fall of the Chinese anti-corruption apparatus remains puzzlingly changeable, which contrasts with the calls for its institutionalization. For a country known for informal politics, the role played by politicians behind such a seemingly irregular evolution remains inadequately examined. This research attempts to explain the elite struggle’s influence on Chinese watchdog agencies using a factional framework. From a historical institutional perspective, this research summarizes several patterns of the Leninist party chief’s interaction with watchdog agencies in different factional structures governing the institutional evolution. The analysis finds that the agency’s power is contingent on its factional relationship with the chief, and only specific structures favor “super” watchdog agencies. This research adds to the theoretical understanding of how contingencies shape institutional development and underlines empirical facts about the vulnerability of Chinese anti-corruption institutions.

Децентралізовані фінанси в сучасній фінансовій системі: розвиток та ризики

The article highlights analogues of traditional financial instruments - decentralized financial services (DeFi), their protocols and essence, it also explores the spheres and types of activities, crypto-financial operations, defines the concept of decentralized finance and reveals the essence of blocked capital and market making. Concepts and prospects for the development of decentralized stablecoins and stable assets, their interaction, disintermediation function and decentralization are considered. Current risks associated with the use and adoption of DeFi areanalyzed, including market manipulation, wrong incentives, excessive short-termism, systemic risks, fraud and money laundering issues. Implementation of a risk-oriented approach in the context of combating money laundering and terrorist financing (AML/CFT) by national state supervisory and law enforcement agencies and enterprises involved in activities on the virtual assets market, is a mechanism for preventing threats and developing a legislative framework for regulation crypto market and interaction on these issues at the international level.

Nurses' substance use disorder in disciplinary procedures: A retrospective document analysis.

To describe nurses with substance use disorder (SUD) in authority disciplinary actions. Nurses with SUD risk patient safety. Research evidence on the identification of nurses' SUD and related management procedures is currently sparse. Retrospective document analysis of decisions related to SUD in nurses' disciplinary actions. Decisions on nurses (N=171) made by the Finnish National Supervisory Authority for Welfare and Health in Finland during 2007-2016 were used as data. An electronic extraction sheet was developed for data collection including variables (N=34), of which 18 were analysed in this study with descriptive statistical methods and chi-squared statistics. The study reported in accordance with the STROBE checklist for cross-sectional studies. The mean age of the nurses was 43years (SD 8.7). The most mentioned reasons for notifications leading to disciplinary actions were substance abuse with working while intoxicated and drug theft. The most mentioned intoxicants used were medicines and alcohol. On average, the first disciplinary decision was given at 6.4months (SD 3.9) and the final decision was given at 17.9months (SD 13.1). The most common decision was restriction of the right to practice. The results supported findings from previous decades and different continents, showing similar trends are prevalent globally and continue today. In future studies, countries' registers of nurses with SUD could be used to clarify the profile of nurses and develop appropriate procedures. Qualitative studies could be conducted to investigate to shed light on concealment of the phenomenon. There is a need for early identification, intervention and referral to treatment as well as effective protocols for reducing nurses' risks of disciplinary actions related to SUD. It is important to be aware of the signs and symptoms of SUD and training for this is needed.

Fostering assigned expatriates’ innovativeness via culturally intelligent supervisors: a resource gain perspective

Assigned expatriates play a role in the innovations of multinational companies (MNCs). Yet, we still know little about how MNCs can help their expatriates towards being more innovative. In this study, we draw on conservation of resources theory to propose that perceived host country national (HCN) supervisor cultural intelligence (CQ), as a contextual resource, positively influences expatriates’ innovativeness via two personal resource pathways. Specifically, we suggest that expatriates’ work engagement and subsidiary socialization, as corresponding personal energy and personal knowledge pathways, positively mediate between perceived HCN supervisor CQ and expatriate innovativeness. We further hypothesize that expatriate cultural metacognition, as a key resource, helps expatriates utilize contextual resources more effectively to generate personal resources to innovate, and thus, it positively moderates the two mediation pathways. We use time-lagged data collected from assigned expatriates to test our hypotheses. We discuss our theoretical and practical contributions to the international human resource management literature.

How Politics ‘Messed up with’ Institutionalization: A Case Study of the Investigation into the Death of Li Wenliang during the Initial Months of COVID-19

ABSTRACT This research offers a timely examination of the functioning of China’s National Supervisory Commission (NSC) in Dr. Li Wenliang’s case. Based on the normative analysis and empirical study, this research identifies two flaws of the NSC preset by particular features of a Leninist state, which make it vulnerable to politicization in the initiation and the course of this investigation: (i) Overreliance on certain factional power distribution; (ii) Twofold identity as an anti-corruption agency and a party disciplinarian concurrently. By challenging both the institutionalization and deinstitutionalization arguments with a critical case, this research advances new theoretical knowledge on the self-defeating mechanisms compromising institutionalization in the Leninist regime and highlights the significance of differentiating subtypes of authoritarianism in the comparative study of institutionalization.

Pentingnya Tugas Dan Kualifikasi Dewan Pengawas Syari’ah (DPS) Dalam Mengawasi Kegiatan Keuangan

The results of the study indicate that the importance of the task of the sharia supervisory board in supervising financial activities in non-bank Islamic financial institutions is found in the Baitul Tanwim Muhammadiyah institution, this is reinforced by a mandatory and mandatory Islamic supervisory board that exists in every BMT/BTM institution. determined by the National Supervisory Board. Not everyone can become a sharia supervisory board, but there are qualifications that are put forward by someone to be able to become a sharia supervisory board, one of which is to have a DPS certificate which not many people have that certificate. The suitability of the supervisory board determines the progress that an institution will face.

Особливості регулювання операцій із віртуальними активами щодо діяльності у сфері майнінгу

The article deals with the peculiarities of suspicious transactions in financial markets related to the use of cryptocurrencies, it also studies current issues regarding the classification of virtual assets. The features of countering suspicious transactions in financial markets associated with the use of cryptocurrency are highlighted. Topical issues of taxonomy of virtual assets and risk assessment of service providers' activities in assessing the risk of operations with virtual assets related to their use in legalization operations are investigated. The concepts of regulation of virtual assets are considered. The concept of mining, the problem of the relationship of varieties of mining activity to the classification of certain types of activity, its legalization are defined, and recommendations for the classification of mining activities are given. The relationship between miners, validators and virtual asset providers (VASP) in the event of a cyberattack or in the presence of certain rights to the network has been analyzed, which leads to the classification of this type of activity as risky regarding the use of cryptocurrencies with criminal intent. It is also underlined the need to introduce a risk-based approach to countering money laundering and terrorist financing (AML / CFT) by national state supervisory and law enforcement agencies, enterprises involved in the virtual asset market, preventing threats and developing a legislative framework for regulation the crypto market and interaction on these issues at the international level.

Two Birds, One Policy: The Establishment of the National Supervisory Commission as a Factional and Centralizing Tool

Xi Jinping has made “anti-corruption” campaigns a hallmark of his leadership. The campaigns promise to target both “tigers” - senior party, government, and military leaders - and “flies” - local party and government officials. This practice has included a drastic restructuring of China’s anti-corruption and judicial agencies, culminating in their centralization under the National Supervisory Commission (NSC) in 2018. Many scholars have debated whether Xi’s campaigns and the NSC are genuinely intended to combat corruption or are instead a tool to eliminate political opponents and consolidate power. The NSC’s establishment is considered in relation to the two predominant models of anti-corruption drives conducted in China, the “Chongqing” model, and the “Guangzhou” model. By deliberately reproducing the Chongqing model’s accountability defects, eliminating political opponents appears to be a core objective of the NSC’s establishment. However, owing to its centralized nature, the NSC also strengthens the central party’s power over local authorities. Local party branches are far less trusted by the population than their national counterparts. Thus, strengthening the party’s credibility - including a genuine attempt to decrease corruption - and strengthening local government oversight appears to be another objective of the NSC’s establishment.

EU: Conditions Exercising National Supervisory Authorities’ Powers Concerning Cross-Border Processing of Data

Article EU: Conditions Exercising National Supervisory Authorities’ Powers Concerning Cross-Border Processing of Data was published on October 1, 2021 in the journal Computer Law Review International (volume 22, issue 5).

Unprofessional conduct by nurses: A document analysis of disciplinary decisions.

Background:A small minority of nurses are investigated when they fail to meet the required professional standards. Unprofessional conduct does not just affect the nurse but also patients, colleagues and managers. However, it has not been clearly defined.Objective:The objective was to identify unprofessional conduct by registered nurses by examining disciplinary decisions by a national regulator.Design:A retrospective document analysis.Data and research context:Disciplinary decisions delivered to 204 registered nurses by the Finnish national regulatory authority from 2007 to 2016. The data were analysed with quantitative statistics.Ethical consideration:The study received permission from the Finnish National Supervisory Authority for Welfare and Health and used confidential documents that were supplied on the basis of complete anonymity and confidentiality.Findings:The mean age of the registered nurses who were disciplined was 44 years and 81% were female. Two-thirds had worked for their employer for 5 years or less, 53% had two or more employers and 18% had a criminal history. All the decisions included a primary reason for why the nurses were investigated, but there were also 479 coexisting reasons. In most cases, unprofessional conduct was connected to substance abuse (96%). In addition, stealing of medicine, a decreased ability to work and neglect of nursing guidelines were reported.Discussion:We found that the nurses were investigated for unprofessional conduct for complex combinations of primary and coexisting reasons. Our study highlighted that more attention needs to be paid to the key markers for unprofessional conduct.Conclusion:Unprofessional conduct is a complex phenomenon that is connected to nurses’ individual and working backgrounds and has an impact on their work performance. More research is needed to identify how nursing communities can detect, manage and limit the serious effects and consequences of unprofessional conduct.