‘Low-ball’ settlements a concern: OBSI

first_img Related news Keywords Dispute resolutionCompanies Ombudsman for Banking Services and Investments Financial industry firms refused a handful of compensation recommendations from the Ombudsman for Banking Services and Investments (OBSI) last year, but OBSI is also concerned about clients accepting low settlement offers rather than risking a refusal. In its latest annual report, OBSI indicates that while it is still concerned about firms refusing its recommendations, the acceptance of ‘low-ball’ settlements is becoming an emerging issue, too. According to a letter from OBSI chair, Fernand Bélisle, in the report, the settling of complaints for amounts that are well below its recommendations is raising concerns at the dispute resolution service. Insurance OmbudService makes western expansion a priority OBSI updates terms of reference “Consumers and investors should not feel coerced to accept reduced offers rather than face the possibility of a firm refusal of OBSI’s recommendation, resulting in no compensation at all,” it says; noting that refusals and ‘low-ball’ settlements will both be priorities for the year ahead. According to the report, OBSI recommendations generated a total of $4.3 million in compensation for clients in 2014, down from $4.9 million in 2013. The vast majority of this ($4.1 million worth) involves investment complaints. And, it reports that it recommended compensation in 42% of investment complaint cases, compared with just 14% of banking cases. Eight cases ended with firms refusing the recommendation, representing 1.1% of closed files. The decline in total compensation came despite the fact that OBSI closed more cases in 2014. It reports closing 539 cases during the year, up 14.4% from the previous year. And, it says that the number of investment complaints dropped in 2014, down to 345 from 434 in 2013. This is also well down from 2010, when it received 562 complaints in the wake of the financial crisis. The source of complaints remains much the same as in past years, OBSI says, led by suitability issues, along with leverage and off-book transactions. OBSI also notes that complaints involving structured products are on the rise too. OBSI also reports that it is on track to completely alleviate its backlog of investment complaints by May 1. It says that these efforts to eliminate the backlog, coupled with a series of process changes that it adopted to speed up complaint resolution, has reduced the average number of days to close an investment complaint case by 17%; and, it is now beating its target of resolving 80% of complaints within 180 days. The picture for future complaint volumes is a bit uncertain, OBSI says, as it has rapidly expanded its membership; which, coupled with recent market volatility, and the impact of the Client Relationship Model (CRM) reforms, may well affect complaint volumes in the year ahead. Indeed, the expansion of OBSI’s mandate to cover firms such as exempt market dealers, scholarship plan dealers, and portfolio managers, has resulted in 895 new firms joining the service, more than doubling its membership to almost 1,500 firms. It also added a handful of new banks in the past year as well. OBSI received 225 complaints about the banking industry in 2014, up 9% from the previous year. It also closed 223 cases during the year, up 14% from the previous year. Most of the complaints were about mortgage prepayment penalties, chargebacks and fraud involving credit and debit cards, and other loan-related issues. Total compensation ordered during the year was a bit over $150,000.center_img James Langton Share this article and your comments with peers on social media FCAC to probe banks’ complaints handling processes Facebook LinkedIn Twitter read more

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New radar tech from Princeton could help drivers see around corners

first_img PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | Driving.ca virtual panelPlayThese spy shots get us an early glimpse of some future models | Driving.ca We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. advertisement Score one for the Ivy Leaguers. The Rolls-Royce Boat Tail may be the most expensive new car ever ‹ Previous Next › Every once in a while, a new technology comes along so brilliant in its simplicity and so obvious in its need that one just needs to smack one’s head and say “Why didn’t General Motors think of that?”In this case, it’s a Princeton University automotive radar system that will let cars “see” around corners. And close to Yours Truly’s heart, although it was originally developed to spot unseen bicyclists and pedestrians, it will work just as well for motorcyclists.Essentially, the system uses radar’s Doppler effect – the shift in returning radio waves when an object is moving – to measure the speed of a two-wheeler ahead. But that’s pretty standard stuff. Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” See More Videos COMMENTSSHARE YOUR THOUGHTS What’s new, says the author of the study, Fangyin Wei, is the radar beam’s ability to spot vehicles around corners by bouncing its waves off buildings. Bouncing said beams off multiple buildings eventually builds up an image of the person or vehicle and, using that Doppler thing I mentioned earlier, the system can detect its speed and direction. The researchers say radar units are so small and inexpensive they could be adapted to fit motorcycles and even bicycles.Most importantly, “this will enable cars to see occluded objects that today’s lidar and camera sensors cannot record, for example, allowing a self-driving vehicle to see around a dangerous intersection,” says Professor Felix Heide, an assistant professor of computer science at the university. Created with Raphaël 2.1.2Created with Raphaël 2.1.2 An illustration of Princeton’s new radar detection system  Princeton University Trending Videos Trending in Canada RELATED TAGSFlexSafety and MaintenanceMaintenanceNew VehiclesFlexlast_img read more

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Dennis Maloney To Retire From CU-Boulder As Chief Technology Officer

first_imgShare Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: Sept. 10, 2008 The University of Colorado at Boulder announced today that Dennis Maloney, chief technology officer, will retire from his position effective Nov. 30.CU-Boulder Provost Phil DiStefano said Maloney’s work “focused on providing information technology services with a keen perspective of student and faculty needs,” and that Maloney provided “a thorough understanding of the complex business operations of the campus.””One of his strengths was leading an organization that developed and provided strategic information technologies during lean budget years,” DiStefano said.A CU-Boulder employee since 1979, Maloney was initially hired in the CU Finance Office to perform business analysis. This quickly led to his involvement in a comprehensive information system development project that shaped his career. After a short stint at University Information Services, he returned to the Boulder campus in leadership positions in Telecommunications and then Information Technology Services.Maloney has been recognized for his dedicated service to the Boulder campus many times over the years, and has been honored nationally in many forums by information technology professionals in higher education.”Having worked with Dennis extensively over the past several years, I will personally and professionally miss his presence on campus,” said Senior Vice Chancellor Ric Porreca. “He has been an effective steward of university resources, transforming CU-Boulder’s IT organization to best serve the needs of the campus.”Porreca said a national search for Maloney’s replacement would begin during the fall semester. Maloney will be on vacation during the month of December and has agreed to temporarily fill the position until a replacement is hired.last_img read more

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CU Boulder to offer first MOOC-delivered electrical engineering master’s degree

first_img Published: Feb. 8, 2018 • By Julie Poppen The Board of Regents on Thursday approved a new and innovative MOOC-delivered master’s degree in electrical engineering–the first of its type in the world.The on-demand, asynchronous, and fully online degree, to be offered by the Department of Electrical, Computer, and Energy Engineering (ECEE) within the College of Engineering and Applied Science, will provide high-quality graduate education to students around the world in response to growing workforce demand.Key takeawaysBoard of Regents approve first MOOC-delivered electrical engineering master’s degree in the nationThese faculty-designed courses leverage MOOC platform technologies to offer a rigorous degree at a lower cost and an unprecedented level of flexibilityLearn more about the latest electrical engineering MOOCs at CU Boulder“The MOOC-based electrical engineering master’s degree really captures the spirit of ingenuity, entrepreneurship and creativity of the faculty at CU Boulder,” said Provost Russell Moore. “In every discipline on campus, our faculty are looking at new ways to teach and conduct research mindful of the benefits for Colorado, the nation and the world. We look forward to presenting this unique degree to the HLC for authorization with all these benefits in mind.”This degree, which will be rolled out in phases, represents an important evolution of CU Boulder’s 2013 experiments with massive open online courses, or MOOCs. At that time, MOOCs at CU Boulder were largely free and non-credit bearing. MOOCs are now emerging as promising vehicles for credit-bearing educational experiences.The MOOC-based Master of Science in Electrical Engineering leverages advanced online learning platform technologies to offer a rigorous degree at a lower cost, giving students choice in how, when and where they complete their coursework.The degree is optimized for the modularity of MOOCs. A three-credit, semester-long on-campus course might become three or four individual month-long MOOCs, each targeting specific content areas. Students will select subjects that best fit their goals as they move through the program. This modular and stackable structure captures the curricular content of the existing on-campus master’s in electrical engineering degree but adds an unprecedented level of flexibility.“What excites me about this initiative is that we’re using technology thoughtfully and strategically to create something new – an online degree that doesn’t try to mimic the classroom experience,” said William Kuskin, vice provost and associate vice chancellor for strategic initiatives. “We want to use the digital environment to let learners explore a sophisticated academic curriculum at their own pace.”“Our hope is that we will deliver an online degree that can only exist in the online environment, unique to this modality, and by doing that, deliver some powerful teaching to the entire world.”The new MOOC-based degree provides a robust set of academic options for students, including 100 month-long MOOCs covering academic and professionally relevant topics in embedded systems engineering, power electronics, photonics, feedback control and digital communications, and remote sensing. As they navigate the program, students will combine individual MOOCs into thematic series, along the way looking toward CU Boulder graduate certificates and, eventually, the full master’s degree.CU Boulder faculty have custom designed each course. Courses feature in-depth video content, curated readings and resources, and assessments that challenge students to demonstrate their mastery of the subject area. Many courses bring the laboratory experience out of the Engineering Center to MOOC students around the world, inviting students to apply their knowledge using hardware and software kits at home. The curriculum pushes the limits of automation in MOOCs to scale graduate education and capture the energy of a rapidly evolving field.“The faculty have seized the moment and created something truly imaginative,” Kuskin said, “an online degree where each course bears the idiosyncratic mark of its creator.”In a field of peer institutions working in the for-credit MOOC space–including MIT, Georgia Tech and the University of Illinois at Urbana-Champaign–CU Boulder takes a leadership position in the electrical engineering master’s space. “Expanding access to the technological world and increasing our global engagement is what our college is all about,” Dean of the College of Engineering and Applied Science Bobby Braun said. “Through this new degree program, I’m excited to see the department leading our college and university–and really the nation–with this 21st century approach to education.”Categories:Education & OutreachNews Headlines Share Share via TwitterShare via FacebookShare via LinkedInShare via E-maillast_img read more

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Airport park plans take center stage at Sept. 27 council meeting

first_imgHomeNewsAirportAirport park plans take center stage at Sept. 27 council meeting Sep. 26, 2016 at 7:30 amAirportAirport park plans take center stage at Sept. 27 council meetingMatthew Hall5 years agoairportNewsSanta Monica Airportsanta monica californiasanta monica daily presssmoSanta Monica Airport (File photo) It’s a short agenda for the Sept. 27 council meeting but at least one item will generate significant interest from the public. Council is scheduled to discuss conceptual plans for expanding park space at the Santa Monica Airport. The agenda item includes approval of $1,113,561 (including a 10% contingency) to provide design services and authorize the Director of Public Works to issue any necessary change orders to complete additional work within contract authority.City Hall has repeatedly stated its desire to close the airport. Council unanimously passed a resolution in August calling for the closure of the airport in 2018, directing staff to begin planning for a park on the site and authorizing a city takeover of private airport services. The FAA has said the city’s actions could result in additional legal action but Council has been resolute in their approach. The discussion Tuesday continues their stated goal of planning for a park so that construction can begin as soon as the space is legally available. Staff have held several public workshops on the future of the park and residents were presented with three designs that maximized different priorities for the land including additional playfields, other active uses and natural park space. Staff are recommending a new, hybrid option that combines elements of each original option based on the feedback received from residents. “The proposed hybrid concept offers expanded outdoor leisure and recreational opportunities for the community, including sports fields, pickleball courts, Community Gardens, native meadow habitat, pathways and children’s play and picnic areas,” said the staff report. According to the report, next steps upon approval of the recommended design include preparation of environmental documents, a return to council in December with guidelines for facilitate interim public use of the space while construction occurs and final approval of the design in 2018 with a construction target of Spring 2018. The second item of substance on the agenda is a resolution requesting approval of environmental documents for a water treatment project. Santa Monica is asking the State Water Resources Control Board to fund the City’s Sustainable Water Infrastructure Project (SWIP). The SWIP proposes to treat stormwater runoff, brackish/saline-impaired groundwater, and municipal wastewater for immediate non-potable reuse. The water could also be used to recharge aquifers and is part of the larger plan for Santa Monica to become water self-sufficient by 2020. The application requires environmental documents be submitted and the pair of studies concluded there would not be any significant impacts if specific mitigation measures are in place. Council’s adoption of the documents would help facilitate the funding application. Council meets on Sept. 27 at City Hall, 1685 Main St. Closed session begins at 5:30 p.m. To review the agenda visit, http://www.smgov.net/departments/clerk/agendas.aspx.Tags :airportNewsSanta Monica Airportsanta monica californiasanta monica daily presssmoshare on Facebookshare on Twitteradd a commentSleepover leads to burglary arrestLocal entrepreneurs brand coffee pods with emojisYou Might Also LikeBriefsNewsBeach House Begins Community Re-Opening June 15Guest Author2 days agoBriefsNewsInput Invited for Marine Park Improvement ProjectsGuest Author2 days agoBriefsNewsPublic Health Emphasizes the Importance of Vaccinations as Distancing and Masking Guidelines Relax Next WeekGuest Author2 days agoBriefsNews“Righting Our Wrongs” performance on June 11Guest Author2 days agoBriefsNewsSEATTLE Feds plan to curtail West Coast salmon fishing to help orcasGuest Author2 days agoColumnsNewsOpinionYour Column HereYour column hereGuest Author2 days agolast_img read more

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Transport crucial to big data story for cities – Connecthings

first_img MWC14 Keynote: Connecthings MWC14 Keynote Panel: Innovation Unleashed Offering users real-time travel information could be the catalyst for networks of information points around cities, Laetitia Gazel Anthoine (pictured), CEO of Connecthings, told Mobile World Live.Connecthings, a firm that offers NFC tag and iBeacon management system, wants to be one of the companies in the forefront of rolling out such NFC-based infrastructure, she said.“We think real-time transport is key because anyone taking a bus or sharing a bike will need information such as ‘Is there a bike available at the next station?’ Or ‘When will my bus arrive?’”.And accruing data from a mass of travellers will enable companies such as Connecthings to analyse patterns of commuting, which can then be fed back to travellers.If as a result commuters know whether their bus will be packed or not, then the service will have real value for travellers, said Gazel Anthoine.The full interview with Mobile World Live is here. Tags Richard Handford Author Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including… Read more center_img AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 11 APR 2014 Previous ArticleVodafone confirms 100% ownership of Indian subsidiaryNext ArticleFTC tells Facebook, WhatsApp to stick by privacy promises Related Home Transport crucial to big data story for cities – Connecthings connecthingslast_img read more

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A mini heatwave is on the way!

first_img Google+ WhatsApp Arranmore progress and potential flagged as population grows Twitter News, Sport and Obituaries on Monday May 24th Facebook Pinterest Twitter Facebook A mini heatwave is on the way! DL Debate – 24/05/21 Google+center_img Pinterest After one of the worst winters in 36 years – a mini heatwave is on the way.Dublin’s forecast to be the warmest part of the country – with temperatures almost 20 degrees higher than they were this time last month.The warm spell is being caused by an area of hot air that’s pushing up from Spain – with highs of 18 degrees today.Pat Clarke is from Met Eireann:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2018/04/clarbcvbcke7am.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Loganair’s new Derry – Liverpool air service takes off from CODA FT Report: Derry City 2 St Pats 2 AudioHomepage BannerNews WhatsApp Previous articleGovernment accused of ‘woeful’ response to fodder crisisNext articleFans expected in Monaghan to say goodbye to ‘Big Tom’ News Highland Important message for people attending LUH’s INR clinic By News Highland – April 18, 2018 RELATED ARTICLESMORE FROM AUTHORlast_img read more

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Hytera’s mobile radio range has become larger

first_imgDigital radio range from Hytera is cost-effective and suitable for transportHytera has launched two new DMR mobile radios aimed primarily at users looking for a versatile commercial device.The MD615 and MD625 are simple to use and they provide what Hytera describes as “the perfect first step” for those migrating from analogue to digital.They are DMR Tier II radios suitable for use in transport applications, delivering excellent audio quality thanks to the latest digital technology.They support both analogue and digital modes, enabling mixed fleets to make a smooth transition between the two.www.hytera.co.uklast_img read more

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Art Outside: Come For The Music, Stay For The Experience

first_imgForget SXSW and Austin City Limits: If there’s one festival that sums up the artistic and cultural vibe of the live music community, it’s Art Outside. Taking place Oct. 24-27 in Apache Pass, about an hour from Austin, Texas, the annual three-day event has become a microcosm of the artists, performers and eclectic community perpetuating Austin’s nickname as “live music capital of the world.”Where music festival lineup announcements have become increasingly predictable, this month’s Art Outside has managed to carefully curate a unique musical bill that complements – yet never overshadows – what’s arguably the event’s true headliner: the art, as well as the progressive community that supports it.Now in its tenth year, the Texas festival is the last of its kind for the season; think of it as your last opportunity to camp amidst the music before festival season goes into hibernation for winter. A full sensory experience for grown-ups, Art Outside is a big kid playground of interactive installations, acrobatic performances, meditation and aromatherapy seminars, wire-wrapping workshops, a tea lounge and more.A thoughtfully curated musical variety ranging from funk (The Motet, Marco Benevento) and live electronica (Conspirator, Papadosio) to glitch hop and downtempo (Emancipator, Blue Sky Black Death), the festival offers a balance of DJs and bands that will satiate even the pickiest musical appetites. Despite such diversity, one common thread among many of the artists booked to perform – like David Sugalski of The Polish Ambassador/Wildlight and Nahko and Medicine for the People – hold and promote many of the ideals valued by the AO community: Environmental awareness, inner spirituality, wellness and sustainability, to name a few.Although perhaps lacking a massive headliner to guarantee ticket sales, the festival has maintained the intimate, homegrown vibe that’s made it a local favorite over the last decade – and attendees seem to prefer it that way. It’s this sort of quality control allows the focus to remain on art of all forms, and gives attendees an opportunity to enjoy the intimacy in addition to exploring other hidden gems of the festival, like the art gallery, wellness workshops and educational seminars.Art Outside takes place Oct. 24-27 in the small town of Rockdale, TX. Chartered bus options to and from Austin allow city dwellers and daily Art Outsiders to safely come and go as they please. (For out-of-towners, there’s even a bus coming from Colorado). You can find all of this information, including tickets, here.Check out some videos from last year’s Art Outside below:last_img read more

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Marathon raises money for hospital

first_imgDancing continues to be more than just fun for many members of the Belles community. The seventh annual Dance Marathon held at Saint Mary’s on Saturday raised over $80,000 for the Riley Hospital for Children, which helps needy families seeking medical care. Rebecca Guerin, president of the Dance Marathon, said she was impressed with this year’s fundraising total. “Last year we raised $63,248, so this year we took on the 20 percent challenge from the foundation, which meant that our goal was to raise $75,898,” Guerin said. “I was speechless when the total was revealed at $80,523.57. It was the best feeling in the world knowing that we exceeded our initial goal and beat last year’s total by 27.3 percent, especially in this economy.” The theme of the 12-hour dance marathon was “Animal Kingdom,” Guerin said. “We definitely got the theme right this year,” she said. “The dancers came dressed in crazy animal attire, and it was really great to see the excitement!” The event featured live animals, including a baby lion and a baby kangaroo. Songs about animals also played in the background, Guerin said. “We had an animal show early in the marathon that included various animals from bunnies to snakes,” she said. “The show was great because everyone could pet the animals after the show.” Guerin said the most exciting part of the night was the exotic animals brought in by a company from Michigan. “The lion cub, baby kangaroo, fennec fox and an exotic bird were among the exotic animals at the event,” she said. “It was so cool being able to interact with the animals, especially the lion cub.” Over 15 Riley families spoke at the event, a record number, according to Guerin. “Many people don’t realize how much of an impact the money we all raise makes a difference for the Riley families,” she said. “Riley Hospital for Children never turns away a child due to their inability to pay for care or lack of insurance.” Guerin said she credits the success of the event to the team who organized the dance. “Having a great group of girls working together towards this goal was amazing,” she said. “I honestly had the best executive board and committee members that anyone could ask for.”last_img read more

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