Recent Regulatory Changes Research Articles

MICROPRUDENTIAL ASPECT BEYOND RULE OF THUMB IN RURAL BANK INDUSTRY IN INDONESIA

Objective: This research aims to examine the microprudential aspects beyond traditional rule of thumb measures in the regulation of Rural Banks in Indonesia, particularly focusing on the implications of recent regulatory changes that have prompted Rural Bank mergers. Theoretical Framework: This research utilizes a framework that incorporates financial ratios as critical indicators of bank performance and health. It considers the influence of regulatory frameworks—especially those outlined in POJK regulations—on the operational effectiveness and stability of Rural Banks. Related to the forced corporate action, reason that administrative reform may not have increased merger activity as expected is that larger, combined activities are likely to be more readily able to absorb the significant costs of complying with administrative reform than smaller Rural Bank. Method: This research methodology used is a qualitative descriptive method. In conducting this study, researchers used primary data and secondary data. Primary data obtained from the results practitioners' perspective of interviews (in-depth interviews) with experts and practitioners, who have an understanding of the issues discussed in Rural Bank Industry so that we can presumably determine the real current situation using a Qualitative Descriptive method with a Phenomenology study approach. While secondary data was complemented by data collected from literature studies, from the Financial Service Authority (OJK) official website, Several Rural Bank Performance Report and Financial Report during 2019 - 2023, scientific articles, books, information from the mass media and other relevant sources of information. Result and Discussion: This study highlights that reliance solely on the rule of thumb can be misleading in assessing bank health. It shows that a detailed analysis of various financial ratios—such as capital adequacy, asset quality, earnings, and liquidity—provides a more comprehensive understanding of a bank's performance and risks associated with mergers. The banking industry those had time to familiarize itself with the subject and to put legislation into concrete action. Other findings indicate that the enforcement of regulations aimed at increasing capital adequacy and reducing systemic risk has led to forced mergers among Rural Banks. Research Implication: The study underscores the importance of integrating microprudential regulations into the operational frameworks of Rural Banks. It suggests that regulators should prioritize comprehensive assessments based on financial ratios rather than simplistic heuristic methods, especially in the context of forced mergers driven by regulatory pressures. Effective and appropriate use of the merger strategies forced by regulator (OJK) have not facilitated Rural Banks’ efforts exactly to earn above-average returns. However, even when pursued for value-creating reason, merger strategies are not problem-free. Reason for the use of merger strategies and potential problem with such strategies are suboptimum goals congruence because of management control problem – include lack of direction, motivational problem, and personal limitation (Merchant et al, 2017). Recommendation: The research recommends that Rural Banks systematically evaluate their financial health using detailed financial ratios and adapt to the new regulatory landscape that encourages mergers. It also urges regulators to refine their guidelines to include these metrics as essential tools for ongoing performance assessment. Enhanced training for bank management on interpreting and applying these financial ratios can improve overall operational effectiveness, particularly in the context of mergers. Merger is not just about consolidating financial aspects, but also harmonizing the combination of tangible (Numbers on Balance Sheet) and intangible assets (Human capital aspect).

Assessing the Effectiveness of a Short Form Screening Tool (COPs) for Body Dysmorphic Disorder in Cosmetic Surgery Patients: A Study of Pre- and Post-Operative Outcomes.

Recent regulatory changes in Australian cosmetic surgery necessitate preoperative screening for body dysmorphic disorder (BDD). This study, which focuses on patient outcomes, evaluates the COPs tool's efficacy and examines its implications on patients undergoing cosmetic procedures. A total of 189 patients were included: 78 underwent Medicare-classified "cosmetic" surgeries, and 111 underwent "medically necessary" procedures. Patients completed the COPs assessment pre- and post-operatively, with a score >40 indicating BDD susceptibility. Results show no significant pre- to post-operative change in COPs scores across different surgical procedures (body, breast, facial, and mixed) in both "cosmetic" (p = 0.2-0.4) and "itemised" groups (p = 0.15-0.33). However, overall, there was a marked reduction in COPs scores post-operatively (p < 0.001), indicating improved self-perception. Specifically, 91% of patients initially BDD-prone showed scores < 40 post-operatively. Conversely, 3.8% of initially low-scoring patients developed BDD-prone scores post-operatively. Comparison between cosmetic and itemised groups revealed higher preoperative COPs scores in the itemised group (p = 0.006), though post-operative scores did not differ significantly (p = 0.33). Incidences of post-operative BDD-prone scores or scores < 40 did not differ between groups (p = 0.61). Complication rates and the need for revision surgery were similar between groups. These findings suggest two plausible interpretations: First, preoperative screening with the COPs tool may positively influence self-perception related to BDD among cosmetic surgery patients, potentially serving as a therapeutic adjunct for those at risk. Second, while screening tools are beneficial, they may have limitations in predicting post-operative outcomes related to BDD development. Further research should explore these dynamics to refine screening practices and optimise patient outcomes in cosmetic surgery contexts. Level of Evidence III This journal requires that authors assign a level of evidence to each article. For a full description of these Evidence-Based Medicine ratings, please refer to the Table of Contents or the online Instructions to Authors www.springer.com/00266 .

CannSeek? Yes we Can! Anopen-source single nucleotide polymorphism database and analysis portal for Cannabis sativa.

The CannSeek portal is available at https://icgrc.info/cannseek, https://icgrc.info/genotype_viewer.

Regulatory Compliance and Risk Management in Pharmaceuticals and Healthcare

Purpose: This study aims to examine the evolving regulatory landscape and its impact on compliance and risk management within the pharmaceutical and healthcare industries. It seeks to identify effective strategies for maintaining data integrity and traceability in accelerated pharmaceutical development (APD), and to understand how these strategies improve patient care and healthcare system responsiveness. Methodology: The research involves a comprehensive review of current regulations, emerging trends, and industry practices. It utilizes an analysis of regulatory updates, risk management frameworks, and case studies to illustrate successful compliance strategies and the challenges faced by organizations. Findings: The study highlights key regulatory requirements, identifies common risks and mitigation strategies, and provides insights into effective practices for ensuring data integrity and traceability. It demonstrates that robust compliance and risk management practices contribute to enhanced patient outcomes and improved healthcare system efficiency. Unique Contribution to Theory, Policy, and Practice: This research offers a detailed examination of the intersection between regulatory compliance and risk management, providing a valuable framework for understanding and addressing the complexities of the pharmaceutical and healthcare sectors. It contributes to theory by integrating recent regulatory changes with practical risk management approaches, informs policy by highlighting critical areas for regulatory focus, and offers actionable recommendations for industry practitioners to optimize compliance and data management processes.

Performance Evaluation and Risk Analysis of Mutual Funds: Insights from Recent Trends and Technological Advancements

Mutual funds, as a popular investment vehicle, pool resources from multiple investors to create diversified portfolios managed by professionals. This study explores the performance of mutual funds by analyzing various types, including equity, bond, and balanced funds, and their associated risks. Utilizing both primary and secondary data, the research evaluates mutual funds based on returns, investment patterns, and risk factors. It also examines the impact of recent technological advancements and regulatory changes on fund performance. The study highlights the benefits of mutual funds, such as diversification and professional management, while addressing potential risks including market, credit, and interest rate risks. By assessing the effectiveness of different mutual funds, the research aims to guide investors and improve capital allocation. The findings provide insights into how mutual funds contribute to individual financial goals and broader economic stability

Buprenorphine/naloxone initiation in the emergency department: a series of vignettes

BackgroundOpioid drug overdose deaths are at an all-time high. Buprenorphine, a medication used to treat opioid use disorder, has dramatic effects on mortality after overdose as well as engagement with outpatient treatment programs. Recent regulatory changes have eased barriers to prescription, yet buprenorphine is infrequently prescribed from the emergency department. Objectives: Emergency physicians see patients who would benefit from this medication on a regular basis. We aim to illustrate how buprenorphine can be initiated from the emergency department. DiscussionUsing a series of six cases, the use of buprenorphine for common presentations of patients with opioid use disorder (OUD) is described. ConclusionsWe present a series of clinical vignettes in order to increase emergency physicians’ familiarity and comfort with the use of buprenorphine/naloxone in the treatment of OUD. Patients with OUD treated with buprenorphine/naloxone are less likely to die from overdose and more likely to engage in long-term treatment. Emergency departments are well suited to initiate buprenorphine/naloxone for patients who are ready for change and eligible for medications for OUD. Now that barriers to prescribing have been removed, emergency clinicians should seek out patients with opioid use disorder who may benefit from this life-saving treatment, initiated either in the ED or at home.

The use of artificial illumination to reduce Pacific halibut (Hippoglossus stenolepis) bycatch for a high-rise bottom trawl in the U.S. West Coast groundfish fishery

In the last decade, there has been increasing interest in the use of artificial illumination as a bycatch reduction device. In the U.S. West Coast groundfish bottom trawl fishery, research has found that the addition of green light-emitting diode (LED) lights to the upper bridles of low-rise cutback trawls significantly reduced Pacific halibut (Hippoglossus stenolepis) bycatch. Recent regulation changes in this fishery now permit high-rise trawls, a gear configuration with a higher vertical opening, in areas where only low-rise trawls were previously permitted. This study conducted catch comparison and catch ratio analyses to determine if catches of Pacific halibut and three commercially important groundfishes (e.g., petrale sole [Eopsetta jordani], Dover sole [Microstomus pacificus], and sablefish [Anoplopoma fimbria]) differ between illuminated and non-illuminated tows for a high-rise bottom trawl. Illuminated tows caught fewer individuals than the non-illuminated tows across all species, including Pacific halibut; however, the difference in catch efficiency was not significant. Total catch volume did have a significant positive effect on levels of glucose and lactate for Pacific halibut. However, no statistically significant differences between illuminated and non-illuminated tows were exhibited across all of the physiological parameters assessed. The results from our study provide valuable information to fishers and managers that can be used for future decision-making and identifying research priorities.

Exploring the Nexus between Executive Compensation and Disclosure Transparency: Evidence from Taiwan

This study investigates the relationship between executive compensation and compensation disclosure transparency in Taiwanese firms, particularly in light of recent regulatory changes that mandate increased transparency. Employing a two-stage least squares (2SLS) regression model, the analysis focuses on the impact of executive salary and bonuses on various measures of compensation disclosure. The findings reveal a significant negative relationship between predicted executive bonuses and the Compensation Committee Quality Score (CCQ), indicating that higher bonus levels are associated with lower transparency in compensation committee disclosures. Conversely, executive salaries do not show a significant impact on compensation disclosure measures, suggesting that salary levels may not be a primary determinant of disclosure transparency in the Taiwanese context. The study contributes to the understanding of the dynamics between executive remuneration and transparency in financial reporting, highlighting the importance of executive bonuses in shaping compensation disclosure practices in Taiwan. The results have implications for policymakers, corporate executives, and shareholders, emphasizing the need to consider the structure of executive compensation packages in promoting transparency and enhancing corporate governance standards.

The influence of corporate governance on the performance of the United Arab Emirates and other banks in the Middle East and North Africa region: A comparative analysis

This study explores the impact of corporate governance (CG) on the performance of banks in the Middle East and North Africa (MENA) region, with a focus on the United Arab Emirates (UAE). The MENA region, characterized by diverse economic landscapes, is analysed through a comparative study encompassing 141 financial institutions across 12 countries from 2016 to 2020. Key performance indicators, such as Tobin's Q ratio (TBQ), Return on Equity (ROE), and Return on Total Assets (ROTA), are assessed in relation to CG mechanisms. The research employs principles components analysis (PCA) to delve into CG practices, covering board size, independence, diversification, meetings, remuneration, and ownership concentration. External factors such as GDP growth rate, bank size, and market capitalization are also considered. Findings indicate a stable relationship between CG and financial performance, emphasizing effective governance's significance. The UAE has emerged as a CG leader since 2007, boasting a legislative framework that strengthens practices. Disparities in CG standards across the MENA region are noted, with some countries relying on regulatory standards and others implementing comprehensive CG codes. The study highlights CG's positive impact on financial performance, particularly on ROE and ROTA, in the UAE and the broader MENA region. The UAE's robust CG mechanisms, recent regulatory changes, and investor-friendly policies make it attractive for investors. Economic factors, such as GDP growth rate and bank size, are also considered. Acknowledging limitations, such as reliance on historical data, the study suggests future research avenues, including exploring specific CG mechanisms contributing to performance improvement and investigating cultural and institutional factors' impact on governance practices.

Paediatric antibiotic prescribing in a nationwide direct-to-consumer telemedicine platform in France, 2018-2021.

Recent regulatory and reimbursement changes facilitated the development of teleconsultation within primary care. French guidance advises against antibiotic prescribing in children in teleconsultation. We assessed paediatric antibiotic prescribing on a French teleconsultation platform. This cross-sectional observational study analysed paediatric (0-14 years) visits on a national direct-to-consumer teleconsultation platform between January 2018 and December 2021. Teleconsultations with complete information regarding diagnosis (ICD-10 coding) and prescriptions were included. We assessed antibiotic prescription rates per 100 visits across diagnoses and used logistic regression to identify factors associated with antibiotic prescribing. In the 37 587 included paediatric teleconsultations (median age 3 years) performed by 713 general practitioners (GPs) and 89 paediatricians, antibiotics were prescribed for 12.1%. Respiratory tract infections (RTIs) accounted for 49.5% of antibiotic prescriptions. Antibiotic prescription rates per 100 visits were: sinusitis, 69.5%; urinary tract infections, 62.2%; pharyngitis, 59.0%; pneumonia, 45.5%; otitis, 46.6%; bronchitis, 19.6%; rhinitis, 11.6%; bronchiolitis 6.6%. Antibiotic prescription rates were higher in GPs than paediatricians [OR 2.21 (IC95% 2.07-2.35)], among physicians aged 45-54 and over 65 [OR 1.66 (1.48-1.85) and 1.48 (1.32-1.66), respectively], in female practitioners [OR 1.13 (1.05-1.21)], in children 3-6 years old [OR 1.41 (1.28-1.56)] and over 6 [OR 1.50 (1.35-1.66)], during winter [OR 1.28 (1.21-1.37)] and for RTIs [OR 1.99 (1.87-2.10)]. Antibiotic prescription rates were lower in doctors with extensive experience in teleconsultation [OR 0.92 (0.86-0.98)]. Despite current recommendations, paediatric patients were frequently prescribed antibiotics during acute care teleconsultations. Specific antibiotic stewardship campaigns should target paediatric teleconsultations.

Redressing sexual harassment at work: Using pressure, disorganisation and regulatory failure to advance theoretical understanding

This article focuses on a significant psychosocial hazard – sexual harassment. It advances the existing body of theory on the antecedents of sexual harassment by drawing on the pressure, disorganisation and regulatory failure (PDR) framework. In doing so, it develops hypotheses about how the PDR variables contribute to sexual harassment and proposes a research agenda to empirically test them. An improved understanding of the influence of PDR on sexual harassment will also enable an examination of the effectiveness of recent regulatory changes designed to address this destructive and costly problem in Australia, and highlight areas requiring additional intervention.

Opioid promotion in Canada: A narrative review.

Studies based on the United States Open Payment database have demonstrated an association between the promotion and prescribing of opioids. An equivalent database does not exist in Canada; therefore, I undertook a narrative review of the literature. In 2015, Purdue spent over CAN$4 million promoting a single product and generated over 160 pages of journal advertising. In the current review, I describe each of the six different forms of promotion that companies used to try and influence prescribing behaviour: messages from sales representatives, journal advertisements, company involvement in undergraduate medical education, key opinion leaders, clinical practice guidelines, and the funding of patient groups. Recent regulatory changes have decreased the volume of opioid promotion, but it would be incorrect to assume that it does not continue to influence the prescribing of this class of drugs.

Impact de la nouvelle réglementation du CACI sur les comportements de souscription des licences : étude au sein d’une fédération multisport

Purpose: The aims of this study are to assess the impacts of recent regulatory changes regarding the issuance of the Medical Certificate of No Contraindication (CACI) for sports practice on the registration for sports licenses. For disciplines with no particular constraints, the regulation now shifts medical responsibility towards sports federations and athletes. In light of these regulatory changes, two main hypotheses are posited: the first assumes a significant decrease in the number of CACI issued following the transfer of medical responsibility to federations and athletes; the second presumes that the streamlined procedures lead to an earlier registration for licenses.Methodology: The analysis relied on data collected within the French Federation of University Sports (FFSU) for the two seasons prior to the COVID-19 outbreak and the 2022-2023 season. For each season, the number of registered licenses, the number of CACI issued, and the dynamics of adherence were analyzed.Results: The results affirm the first hypothesis, displaying a 94% decrease in the CACI provided for disciplines with no constraints during the 2022-2023 season compared to previous seasons within the FFSU. Pertaining to the second hypothesis, a trend towards an earlier registration of licenses was identified due to the removal of the CACI requirement for disciplines with no constraints and its substitution with a health questionnaire.Conclusion: The findings of this study indicate that regulatory changes have influenced license registration behaviors, facilitating quicker adherence by athletes while significantly reducing the number of CACI issued.

The Historic, Present and Future Role of Regulation in Securing the Standards of ‘Public Value’ Media

AbstractThis article examines the evolution of public service broadcasting (PSB) regulation in the UK, contrasting two opposing perspectives on its role and addressing its contemporary challenges. Analysing the historical context and recent regulatory changes, the article argues that PSB remains vital to the UK's media landscape, providing high quality content and serving the public good. However, it identifies technological advancements and political interference as significant threats to its continued success. The article critically evaluates the draft Media Bill's potential to address these challenges and enhance PSB's competitiveness. Additionally, it raises concerns about potential bias within the regulatory body, Ofcom, urging greater transparency and fairness in its oversight of the media market. The article emphasises the need for a robust regulatory framework to ensure the continued viability of PSB and foster a vibrant and diverse media ecosystem.

ADVANCING PHILANTHROPY FOR OPHTHALMOLOGY IN INDONESIA: UNLEASHING THE POWER OF GIVING FOR VISION CARE

Health philanthropy plays a crucial role in supporting charitable activities in the field of ophthalmology. The Indonesian Ophthalmologists Association (PERDAMI) has been actively engaged in various social initiatives to improve eye care services. However, it is imperative to consider long-term sustainability in funding to ensure the continuity of philanthropic efforts. Additionally, the recent regulatory changes in Indonesia highlight the need for philanthropic practices to comply with legal frameworks. This study presents the key highlights of a social-entrepreneurship session presented at the 48th Annual Scientific Meeting of the PERDAMI in August 2023, with aim to emphasize the importance of collaboration among stakeholders involved in ophthalmic philanthropy, including professionals, institutions, and grantors. The future sustainability of vision care is vital, and it requires the exploration of innovative funding models, the promotion of public-private partnerships, and the cultivation of a culture of giving. By raising awareness of this issue and incorporating it into strategic planning, stakeholders can work towards ensuring the availability and accessibility of quality eye care services in Indonesia. In conclusion, this study highlights the importance of integrating collaboration, needs assessment, good governance, and sustainability considerations in health philanthropy practices within Indonesian ophthalmology. These efforts will help shape the future of vision care and empower the PERDAMI to deliver meaningful and lasting impact in eye health.

Safety and Efficacy of Mucograft Porcine Collagen Bioengineered Acellular Dermal Matrix as a Spacer Graft in Lower Eyelid Elevation Surgery.

Recent regulatory changes have limited the access to a widely used commercially available bioengineered acellular dermal matrix (BADM) product as a spacer graft in the surgical correction of lower eyelid retraction. We report our off-label usage of Mucograft, a porcine BADM, as an alternative BADM. A retrospective review was conducted of patients undergoing bilateral lower lid surgery with Mucograft (12 eyes) at a single institution. For the six patients, there was a mean lower lid elevation of 1.93 mm, without any serious complications. There was greater elevation of the lower lid position for the Mucograft group compared with four septo-retractor control patients (1.93 versus 0.94mm, P = 0.008). Mucograft performed satisfactorily, and further investigation is warranted regarding its longer-term safety and efficacy.

The Structural Shifts in Bitcoin’s Role as a Predictor of the KOSPI Index

This paper explores the efficiency of the KOSPI market by examining its predictability, with a focus on the influence of Bitcoin returns during non-trading hours. Utilizing predictive models incorporating many financial assets, we find a significant predictive value in the Bitcoin return for the KOSPI return. We also identify a gradual structural break in the KOSPI-Bitcoin relationship, a shift from traditional market efficiency paradigms. This gradual transition, influenced by recent economic and regulatory changes, underscores potential arbitrage opportunities.

Identifying the properties and impact of education on misconduct: Evidence from Australian financial advisers

The Australian financial planning sector has seen recent regulatory changes introduced to address misconduct. One such introduction surrounds increased levels of mandatory financial adviser education. This paper examines the Banning orders between March 2015 and March 2023 to identify relationships between levels of misconduct and education. Analysis of findings supports the validation of education requirements and outlines identifying properties assisting consumer decisions to avoid those advisers affiliated with misconduct. This research further explores avenues to develop the sector’s professionalism.

Does the age of compensation committee members matter for CEO compensation?

AbstractResearch Question/IssueWe examine the impact of the age of compensation committee (CC) members on CEO compensation. Sociological theory suggests that age is a significant demographic factor influencing behavior. We argue that monitoring intensity increases with age because older directors are more likely to commit to their fiduciary duties.Research Findings/InsightsUsing FTSE 350 firms for the period 2002 to 2017, we find that CC members' age is negatively associated with the level of CEO pay but positively associated with pay–performance sensitivity after controlling for risk aversion attitude, experience in board monitoring, knowledge of the firm, and other firm and CEO characteristics. The relationships remain robust to alternative measures for age and compensation, using two‐stage least squares and high‐dimensional fixed effects models. Consistent with the view that older individuals tend to hold higher ethical standards and concomitant closer monitoring, we find that age effects are sensitive to the influence of ethical factors and are strongest for those firms for which intense monitoring is most needed. This suggests that age operates via older directors carrying out their roles more assiduously. We further show that our findings are less likely to be driven by director reputational effects, and the relationship between CC member age and CEO compensation persists even when we control for multiple dimensions of culturally inherited attributes of the CC members.Theoretical/Academic ImplicationsDespite the large literature on the influence of demographic characteristics on corporate governance, this study is the first on the monitoring effect of CC members' age. It contributes to the literature on the influence of demographic characteristic. It also contributes to the literature on CEO compensation by identifying a demographic factor—age—as a determinant of CEO pay, after controlling for the economic and corporate governance variables of the firm.Practitioner/Policy ImplicationsThis study highlights the role of demographic factors in explaining the monitoring of the CEO compensation contracting process and provides timely evidence on the recent regulatory changes.

Medications for opioid use disorder: An interactive educational program developed for the nurse practitioner curriculum.

Opioid overdose deaths remain a major public health concern in the United States and led to the recent changes in regulations that allow nurse practitioners (NPs) to prescribe buprenorphine without the previously required Drug Addiction Treatment Act waiver. Previously, waiver requirements included 24 hours of opioid use disorder (OUD) and medications for OUD (MOUD) training. Although this training is no longer required, NPs need education related to providing nonstigmatizing care to individuals with OUD and safe MOUD prescribing practices. A combination of online didactic modules, in-person simulation activities, and experiential learning was provided to psychiatric mental health NP (PMHNP) and family NP (FNP) students enrolled in a Doctor of Nursing Practice (DNP) program. OUD was presented through a chronic care lens to normalize treatment and decrease stigma, and harm reduction principles were included to increase safe prescribing of MOUD. Fifty-six students completed the didactic training, 51 students participated in the simulation, and 11 students completed shadowing experiences with an experienced MOUD provider. Psychiatric mental health NP and FNP graduates of this DNP program have the knowledge and skills to provide MOUD to individuals struggling with OUD, thus potentially increasing access to care and decreasing overdose deaths.