Role Of Regulatory Bodies Research Articles

RegTech advancements-a comprehensive review of its evolution, challenges, and implications for financial regulation and compliance

Purpose This study aims to assess the current state and impact of the RegTech industry on financial regulation and compliance by providing a comprehensive overview of its evolution and identifying key challenges and opportunities. Design/methodology/approach A hybrid review approach was employed, involving a detailed bibliometric analysis of 89 scholarly articles and a content analysis of 47 key studies, covering the period from 2010 to 2023. Findings The research identifies critical trends and challenges within the RegTech industry, focusing on the roles of regulatory bodies and technological innovations. It explores four major themes: (1) RegTech applications in FinTech, financial services and banking regulations; (2) RegTech’s role in compliance management and fraud prevention; (3) the impact of digital transformation, governance and regulations; and (4) the integration of Big Data, AI, ML and blockchain in regulatory systems. Practical implications This study provides a comprehensive framework for understanding the complicated applications of RegTech, highlighting its potential to enhance compliance efficiency, mitigate risks and foster innovation within the financial sector. The insights provided are valuable for policymakers and financial institutions aiming to develop more robust regulatory frameworks and practices. Originality/value This study uniquely integrates bibliometric and content analysis to provide an up-to-date and nuanced overview of RegTech, focusing on recent advancements in AI, ML and blockchain technologies. It not only maps current trends but also identifies research gaps and offers new directions for future research.

Analysis Of The Responsibility Of Insurance Companies Declared Bankrupt For Customer Claims In The Perspective Of Indonesian Positive Law

Insurance for human life is very important, by requiring a sense of comfort and safety. So that many companies have established their business in the field of insurance, behind insurance companies that provide security protection. Not all companies run smoothly in other words the company is inseparable from the threat of bankruptcy. This research focuses on legal certainty for customers when an insurance company with claim obligations is declared bankrupt. The research problem addresses the challenges faced by customers in such situations and the legal protection available to them. The purpose of this research is to find out the responsibility of insurance companies that are declared bankrupt in fulfilling customer claims and to find out the legal certainty for customers in cases when insurance companies that have claims obligations are declared bankrupt. The methodology used is normative juridical, by analyzing the law based on literature study, articles in the Civil Code, Law Number 21 of 2011 concerning OJK, Law Number 37 of 2004 concerning Bankruptcy and postponement of debt payment obligations, and Insurance Law. The results discuss the importance of legal protection provided by the Financial Services Authority and the Deposit Insurance Corporation for insurance customers in bankruptcy cases. The findings underscore the need for compliance with certain legal provisions to ensure customer protection, especially in cases involving insolvent insurance companies. The implications of this study emphasize the importance of legal certainty and the role of regulatory bodies in protecting customer rights in the insurance sector.

DATA PROTECTION IN THE AGE OF SOCIAL REGULATION: A CONCEPTUAL FRAMEWORK

In the current digital landscape, characterized by rapid technological advancements and pervasive social media usage, the intersection of data protection and social regulation has emerged as a critical area of focus. This research paper explores how emerging social norms and regulatory frameworks shape the ways in which personal data is collected, processed, and protected. It critically examines the evolving definitions of privacy and consent, the role of regulatory bodies in enforcing data protection standards, and the implications of social expectations on corporate practices. By presenting a conceptual model that integrates legal, ethical, and societal dimensions, the article highlights the necessity for a multifaceted approach to data protection that transcends traditional legal frameworks. It argues for a collaborative paradigm that engages stakeholders, including individuals, institutions, and policymakers, in the creation of robust data governance solutions. Ultimately, this work aims to contribute to the discourse on building resilient data protection strategies that are aligned with contemporary social values and technological realities. This article aims to analyze the effectiveness of the Personal Data Protection Act of 2023 in ensuring the right to privacy and data protection.

Implementacija politike bezbednosti hrane u Evropskoj uniji - uputstva, raznovrsnost i rešavanje izazova

The paper explores the intricate landscape of implementing food safety policies within the European Union (EU) context. Through an examination of key themes, including discretion and enforcement of policies, the EU's problem-resolution strategies, and the concept of individualization that surpasses mere adherence to laws, the paper sheds light on the complexities and nuances inherent in ensuring food safety across the diverse member states. The paper scrutinizes the role of discretion in the enforcement of food safety policies within the EU. It delves into how regulatory bodies exercise judgment in interpreting and applying policies, taking into account the varying contexts and challenges faced by member states. The discussion highlights the need for a balanced approach that considers both uniformity in enforcement and flexibility to address specific regional or sectoral requirements. Further, the paper focuses on the EU's problem-resolution strategies concerning food safety policies. It explores the mechanisms in place for identifying and addressing challenges that arise during the implementation phase. This includes an analysis of coordination among member states, collaboration with stakeholders, and the role of regulatory bodies in mitigating issues and fostering a harmonized approach to problem-solving. In the end, the paper introduces the concept of individualization, emphasizing how a diverse range of policies and practices exists beyond mere adherence to overarching laws. This section explores the unique approaches taken by member states in tailoring food safety policies to suit their specific circumstances. It investigates the benefits and potential challenges associated with such individualization, considering its impact on overall policy effectiveness and coherence.

Exploring HIV/AIDS investigator perceptions of equity within research partnerships between low-and middle-income and high-income countries: a pilot survey

BackgroundRecommendations for research partnerships between low- and middle-income countries (LMICs) and high-income countries (HICs) stress the importance of equity within the collaboration. However, there is limited knowledge of the practical challenges and successes involved in establishing equitable research practices. This study describes the results of a pilot survey assessing key issues on LMIC/HIC partnership equity within HIV/AIDS research collaborations and compares perspectives of these issues between LMIC- and HIC-based investigators.MethodsSurvey participants were selected using clustered, random sampling and snowball sampling. Responses were compared between LMIC and HIC respondents using standard descriptive statistics. Qualitative respondent feedback was analyzed using a combination of exploratory and confirmatory thematic analysis.ResultsThe majority of categories within four themes (research interests and resources; leadership, trust, and communication; cultural and ethical competence; representation and benefits) demonstrated relative consensus between LMIC and HIC respondents except for ‘lack of trust within the partnership’ which was rated as a more pronounced challenge by LMIC respondents. However, subcategories within some of the themes had significant differences between respondent groups including: equitable setting of the research agenda, compromise within a partnership, the role of regulatory bodies in monitoring partnerships for equity, and post-study access to research technology.ConclusionsThese efforts serve as a proof-of-concept survey characterizing contemporary issues around international research partnership equity. The frequency and severity of specific equity issues can be assessed, highlighting similarities versus differences in experiences between LMIC and HIC partners as potential targets for further discussion and evaluation.

A situational analysis of registered dietitians' participation in network marketing.

Registered dietitians (RDs) are allied health professionals with advanced training in nutrition and food science. To practice, RDs must maintain registration with the regulatory body in their jurisdiction. We conducted a situational analysis to better understand: (i) RDs participation as independent sales consultants (ISCs) for network marketing companies and (ii) the role of regulatory bodies in overseeing network marketing participation among RDs. We conducted semi-structured interviews with individuals who had, within the past 5 years, concurrently been an RD and an ISC, and with three representatives of non-RD regulatory bodies in the province of Ontario. Other sources of discursive data included relevant articles published in academic journals and in the mainstream media, documentary series and circulating memes. Our results are depicted in three maps (ordered situational, arenas and positional). Overall, much of what was highlighted in the reviewed articles and expressed in the analytic maps about network marketing remained unsaid in RD interviews (n = 8). RDs who participate in network marketing were often able to achieve a level of personal fulfilment that appeared unattainable through their professional work alone. However, the stigma of network marketing participation appeared to diminish the benefits of ISC work. Consistent, clear guidelines from RD regulatory bodies are desired by RD/ISCs.

A Situational Analysis of Registered Dietitians’ Participation in Network Marketing

Registered Dietitians (RDs) are allied health professionals with advanced training in nutrition and food science. In order to practice, RDs must maintain registration with the regulatory body in their jurisdiction. We conducted a situational analysis to better understand: i) RDs participation as independent sales consultants (ISCs) for network marketing companies, and ii) the role of regulatory bodies in overseeing network marketing participation among RDs. We conducted semi-structured interviews with eight individuals who had, within the past five years, concurrently been and RD and an ISC, and with three representatives of non-RD regulatory bodies in the province of Ontario. Other sources of discursive data included relevant articles published in academic journals and in the mainstream media, documentary series and circulating memes. Results are depicted in three maps (ordered situational, arenas and positional). Overall, much of what was highlighted in the reviewed articles about network marketing remained unsaid in RD interviews. RDs who participate in network marketing were often able to achieve a level of personal fulfilment that seemed unattainable through their professional work alone. However, the stigma of network marketing participation seemed to diminish the benefits of ISC work. Consistent, clear guidelines from RD regulatory bodies are desired by RD/ISCs.

Ethical considerations during a pioneering surgical procedure: porcine cardiac xenotransplantation.

Preclinical advances in life-sustaining porcine cardiac xenotransplantation from donor pigs to baboons have paved the way for the performance of porcine cardiac xenotransplantation in a human. This procedure was performed with emergency use authorisation granted by the United States Food and Drug Administration under the umbrella of investigational new drug use on compassionate grounds. The patient was denied candidacy for durable mechanical circulatory support and heart transplantation as a result of non-adherence to medical advice. Successful porcine cardiac xenotransplantation in humans will significantly increase the availability of potential donor organs for long-term management of end-stage heart failure. Human porcine cardiac xenotransplantation is associated with ethical conflicts encompassing multiple ethical principles which are not mutually exclusive and are sometimes conflicting. This article focuses on some of the ethical conflicts encountered in relation to the use of mechanical circulatory support, pretransplant evaluation, shared decision making during informed consent, infectious disease risk, preclinical and clinical testing, and the role of regulatory bodies during performance of the first human porcine cardiac xenotransplantation. An increase in human trials of xenotransplantation procedures is imminent. Potential ethical conflicts associated with xenotransplantation should be addressed appropriately.

Language policy, evidence-informed practice, the role of regulatory bodies and teacher agency

Language policy, evidence-informed practice, the role of regulatory bodies and teacher agency

Bio-Technology in India and Uzbekistan, Its Laws and The Role of Regulatory Body

Bio-Technology in India and Uzbekistan, Its Laws and The Role of Regulatory Body

Ethical Challenges Posed by Advanced Veterinary Care in Companion Animal Veterinary Practice.

Simple SummaryVeterinary care of companion animals, particularly dogs and cats, continues to advance, with some companion animals receiving a standard of care equal to or exceeding that of human patients. While this has the potential to improve animal welfare and benefit other stakeholders, including animal owners and veterinary team members, it also poses ethical challenges. We discuss key ethical challenges associated with AVC, including its relationship to standards of veterinary care, its potential to perpetuate poor quality of life and suffering, cost and accessibility of veterinary care, conflicts of interest, and concerns about experimentation without appropriate ethical review. We conclude by suggesting some strategies for veterinary teams and other stakeholders, such as professional bodies and regulators, to address these concerns.Advanced veterinary care (AVC) of companion animals may yield improved clinical outcomes, improved animal welfare, improved satisfaction of veterinary clients, improved satisfaction of veterinary team members, and increased practice profitability. However, it also raises ethical challenges. Yet, what counts as AVC is difficult to pinpoint due to continuing advancements. We discuss some of the challenges in defining advanced veterinary care (AVC), particularly in relation to a standard of care (SOC). We then review key ethical challenges associated with AVC that have been identified in the veterinary ethics literature, including poor quality of life, dysthanasia and caregiver burden, financial cost and accessibility of veterinary care, conflicts of interest, and the absence of ethical review for some patients undergoing AVC. We suggest some strategies to address these concerns, including prospective ethical review utilising ethical frameworks and decision-making tools, the setting of humane end points, the role of regulatory bodies in limiting acceptable procedures, and the normalisation of quality-of-life scoring. We also suggest a role for retrospective ethical review in the form of ethics rounds and clinical auditing. Our discussion reenforces the need for a spectrum of veterinary care for companion animals.

Who Is Liable When a Driverless Car Crashes?

Autonomous vehicles (AVs) will revolutionize mobility in the future. However, accidents will still happen and it will affect the practices of today’s tort laws. This work discusses all those aspects which should be considered in order to find out who is liable, i.e., an operator, owner, manufacturer, government entity, software provider, network provider, original equipment manufacturer (OEM), etc., as traditional tort rules will not help to find out the liability in case of an AV accident. The work comprehensively discusses different liabilities ranging from legal, civil, operator, criminal, moral, product, insurance, etc., to find out who is liable in case of an AV accident, as compared to the existing literature which generally discusses one or two aspects only. The work also presents the current state of legislation and discusses legal challenges to the lawmakers, insurance companies, consumer, and manufacturers, etc. The future mobility models and different scenarios of AV accidents have also been discussed in terms of legal liability and third party insurance claims. The role of regulatory bodies and different challenges has also been discussed along with recommendations. Finally, the work also proposes a new novel liability attribute model with a particular focus on ethical issues. The research proposes that liability should be attributed in such a way that it benefits everyone and everybody feels justified in case of an AV accident. The research also concludes that product liability will be the major issue in terms of insurance issues and the manufacturer should be held liable for product failure unless other evidence favors the manufacturer.

Role of regulatory bodies in spreading financial awareness – A study of National Strategy for financial education

Role of regulatory bodies in spreading financial awareness – A study of National Strategy for financial education

Integrated Security, Safety, and Privacy Risk Assessment Framework for Medical Devices.

The substantial improvements and innovations in communication networks and bio-medical technologies have led to the adoption of networked medical devices due to which the attack surface has increased profoundly. Numerous devices in practice were designed and developed years ago without security measures. In such a scenario, the role of regulatory bodies has become evident. The Food and Drug Administration (FDA) validates and approves devices before commercialization. In contrast, the European Union (EU) follows a decentralized approach and Notified Bodies (NB) for assuring high standards, safety and quality of medical devices being marketed in Europe. Once the device has gone through stringent regulations including good manufacturing practices, Quality Management System (QMS), labeling, clinical tests, performance standards, adequate storage and packaging practices, a declaration of conformity will be granted, which is a legal binding document stating that the device is conformant with applicable European requirements and can be marketed in Europe. However, such regulations lack a systematic methodology to determine unified security, safety and privacy risk that eventually influence the health of patients. To cover these gaps, this research proposes Integrated Safety, Security, and Privacy (ISSP) Risk Assessment Framework to determine the risk level of the device and required security controls. It is, then applied to a case scenario of an infusion pump and further evaluated by comparing it with current standards and practices. The comparison shows that the framework provides a unified approach to consider different types of risks associated with devices.

Internal quality assurance practices of nursing and midwifery training colleges and the role of regulatory bodies: The perspectives of health tutors

In the era of quality orientation, human rights, and a consumer-driven society, Nursing and Midwifery Education Institutions (NMEI) are expected to produce qualified graduates who will meet the needs and expectations of society. The aim of the study was to assess the internal quality assurance practices of Nursing and Midwifery Training Colleges (NMTCs) in the Northern Region of Ghana. An analytical cross-sectional design was adopted for the study with a sample size of eighty-eight (88). Purposive sampling method was used to select health tutors (participants) from three NMTCs in the Northern Region of Ghana. Data for the study were collected with a questionnaire and analysed. The study revealed that the NMTCs have quality assurance units/committees responsible for monitoring the quality of teaching and learning. In this study, only 39.8% of the health tutors were satisfied with the monitoring and inspection of training institutions by regulatory bodies. The results show a significant difference among the perspectives of the health tutors on the implementation of staff professional development (F(2, 87) = 4.74, p = .011), academic staffs motivation in the direction of refining the value of academic programs (F(2, 87) = 3.43, p = .037), working conditions of staffs (F(2, 87) = 3.32, p = .041) and the effectiveness of quality assurance systems in enhancing the quality of teaching and assessment (F(2, 87) = 3.27, p = .043). There is the need to ensure uniformity in staff professional development, working conditions, and motivation of health tutors in the training institutions. Regulatory bodies must intensify the monitoring of NMTCs and offer accreditation to new NMTCs based on the state of educational resources and facilities.

Drug promotion practices: A review.

Over the years, the pharmaceutical industry has been at the forefront of research and innovation in drug discovery and development. The process of drug discovery extending from preclinical studies to multicentric clinical trials and postmarketing phase is a costly affair running into billions of dollars. On the flip side, not all investigational molecules clear the trial phases and get approved, which puts pressure on the manufacturers to maximize the profit from approved drugs. It is in this key area that the practice of drug promotion plays its role. The World Health Organization defines drug promotion as "all informational and persuasive activities by manufacturers and distributors, the effect of which is to influence the prescription, supply, purchase or use of medicinal drugs". With its humble intent of creating awareness among healthcare professionals and updating their knowledge on recent advances in treatment options, drug promotion has been an important tool, but gradually it has evolved to embrace aggressive marketing strategies and sometimes unethical business and scientific practices where the need for profit-making eclipses commitment to patient care and scientific exploration. In this review, we discuss the evolution of drug promotion practices, the various types, its merits and demerits, the influence of drug promotion on physician prescribing behaviour, the role of regulatory bodies, unethical promotional practices and finally summarize with future directions.

Financial Reporting and Ethical Compliance: The Role of Regulatory Bodies in Nigeria

Financial Reporting and Ethical Compliance: The Role of Regulatory Bodies in Nigeria

Role of Regulatory Bodies in the Banking and Energy Sectors

Abstract The article discusses the status and role of regulatory bodies and the aftermaths of their independence and accountability to the public and the parliament. The author analyses different legal statuses of regulatory bodies in Montenegro and Serbia in the central banking and energy sectors and concludes that it is necessary that national constitutions, as the highest legal acts in each state, prescribe in a separate article that “Regulatory bodies are independent and accountable to Parliament”. Relevant separate legal acts should closely define the procedures for establishing, enforcing, and sanctioning of possible breaching of: 1) independence of regulatory bodies, 2) accountability of regulatory bodies to the parliament, and 3) transparency of their activities.

Corporate Governance - Emerging Economies Fraud and Fraud Prevention

Just as it is impossible to know when a swimming fish will drink water, so it is impossible to find out when a corporate steward is stealing money From Kautilya'sArthashastra (300 B.C) Cadbury (1992) defines corporate governance as the whole system of controls both financial and otherwise by which a company is directed and controlled. In simple words it is all about promoting corporate fairness, transparency and accountability. The opening of the economy has brought growth opportunities with improved competitiveness this has also given rise to cut throat competition in all sectors, which has tempted managers to adopt practices which at times dilute the ethical norms. This competition has put the onus on managers to show improvement in performances quarter by quarter persuading them to tamper with some of the best practices in the rat race for market share growth rate, visibility in securities market. The structure to ensure corporate governance includes the board of directors, top management, shareholders, creditors and all other stakeholders. Frauds in corporate governance According to KPMG fraud survey, organizations are reporting more experiences of fraud than prior years and are taking actions to deal with it. Seventy five percent of companies surveyed reports that they experienced increasing instances of fraud. While employee fraud is the most prevalent type of fraud experienced by organizations, financial reporting fraud and medical insurance fraud are the most costly. During the recent past the financial frauds are almost doubled. Organizations have taken reactive and preventive measures in controlling the corporate frauds like internal audit, internal controls, and notifications by an employee are the three ways of uncovering fraud. The present paper is an exploratory study that focuses on various corporate frauds, genesis of the frauds, people responsible for various frauds and the role of regulatory bodies in overcoming those frauds.

Assessing the role of regulatory bodies in assuring patient safety and the quality of health care in Europe: an analysis of vignettes of medical errors and professional issues

Background Several high profile cases of medical malpractice have raised concerns about the management by regulatory bodies of the performance of doctors working outside their native country within Europe. This paper will assess the roles of and consistencies between regulatory bodies in nine European countries on how they regulate quality of health care and patient safety. Methods Twelve vignettes describing scenarios that raise concerns about standards of physicians were designed by the …