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Military Sealift Command-Chartered High Speed Vessel Swift Departs Maputo, Mozambique

first_img View post tag: News by topic View post tag: military View post tag: High Military Sealift Command-chartered High Speed Vessel Swift (HSV 2) left Port Maputo June 15 for Nacala as the ship’s crew continues its role in Mozambique for Africa Partnership Station (APS) 2012.Swift spent seven days in Port Maputo, conducting two separate classroom engagements that graduated almost 30 Mozambican military and port security officials, which enhanced their skill set on everything from port security to basic infantry and medical skills.Members of Naval Forces Europe Band “Flagship” kept a busy schedule traveling to more than 10 events including schools, receptions, and “jam sessions” with local musicians.The musical events allowed for locals, many of them children and young adults, to interact with service members in uniform in an environment they wouldn’t otherwise get a chance to experience.“Here in Mozambique, American Jazz, Rock n’ Roll and Western music get a big response, people ask more questions about it. It’s a great way to open doors in the community and it leaves a lasting impression,” said Chief Musician (SW) Christopher Vlangas, Naval Forces Europe Band “Flagship.” “The port is just an entry point, but with the band, there’s really no boundary. APS can extend as far into a country as the band can travel.”Swift’s crew participated in three community outreach projects which included a friendly soccer match with the Mozambican navy, and joint efforts between the two countries’ service members where they serviced two different orphanages – one, where they painted the facility, and another, where they constructed a fence.“At the orphanages and through the band performances, I think as part of this Africa Partnership mission we affected the children, and then on to their children, we end up affecting an entire generation in a positive way,” said Chief Warrant Officer Ronald McMiller, assistant officer in charge, Swift’s military detachment.Swift’s civilian and military leadership paid visits to the leaders of the Mozambican armed forces. They also hosted a graduation ceremony that honored the commitment of the service members who participated in the week-long APS courses.The vessel hosted a reception on board for the U.S. Ambassador to Mozambique Leslie Rowe, and more than 100 invited guests spent the evening learning about Swift and the mission of APS.APS is about developing African solutions to global problems and building upon long-standing relationships.Through events like the ones held in Maputo and in future ports, it helps to create partnerships among a number of organizations that have not traditionally worked together in the past to achieve common goals through collaboration.Swift continues its APS mission in Nacala, Mozambique where it will engage in continued information exchanges and community service projects.APS is an international security cooperation initiative facilitated by Commander, U.S. Naval Forces Europe-Africa, aimed at strengthening global maritime partnerships through training and collaborative activities in order to improve maritime safety and security in Africa.[mappress]Naval Today Staff, June 19, 2012; Image: US Navy View post tag: Swift View post tag: Sealift View post tag: speed View post tag: Departs View post tag: Maputo View post tag: vessel June 19, 2012 View post tag: Naval View post tag: Mozambique Training & Education View post tag: Command-Chartered View post tag: Navy Military Sealift Command-Chartered High Speed Vessel Swift Departs Maputo, Mozambique Back to overview,Home naval-today Military Sealift Command-Chartered High Speed Vessel Swift Departs Maputo, Mozambique Share this articlelast_img read more

Facilities Associate, UM Housing

first_imgVideo: UM LifestylesUniversity Highlight About UM Housing, UMResidence Life provides safe, clean, healthy, and affordable livingand learning facilities that fosters an inclusive community livingenvironment for students, staff, faculty, and guests. The ResidenceLife Office manages three areas, Residence Halls, Lewis and ClarkVillage, and University Villages, which provides a variety ofhousing options for single students, students with dependents, andUniversity guests. Services provided in these facilities supportand nurture educational experiences and personal development at theUniversity of Montana.The University of Montana provides a culture that values hard work,intellectual curiosity, diversity, collegiality, innovativethinking, and teamwork, making it a great place to grow and developprofessionally. The University of Montana is an AffirmativeAction/Equal Opportunity Employer and has a strong institutionalcommitment to the principle of diversity in all areas. In thatspirit, we are particularly interested in receiving applicationsfrom a broad spectrum of qualified people who would assist theUniversity in demonstrating its essential values of innovation andcreativity, impact, openness, and partnership.The University of Montana is a unit of the Montana UniversitySystem with over 10,000 students. It is located in Missoula, aculturally vibrant community of about 72,000, surrounded bymountain grandeur which was recently ranked in the “ top 20 best college towns with a population of lessthan 250,000 ” by the American Institute for Economic Researchand ranked 9th in Outside Magazine’s “ The 16 Greatest Places to Live in America” in2014 . Many national publications recognize Missoula for itshigh quality of life . Abundant recreationalopportunities in surrounding state and national forests and nearbyGlacier National Park and Yellowstone National Park complement athriving intellectual atmosphere. The University of Montana offerseligible employees a generous benefits package that positivelyseparates UM from other local employers and offers many programsand policies to support work-life balance for its employees.The University of Montana is an Affirmative Action/EqualOpportunity employer and has a strong institutional commitment tothe principle of diversity in all areas. In that spirit, we areparticularly interested in receiving applications from a broadspectrum of qualified people who would assist the University indemonstrating its five priorities for action : Place studentsuccess at the center of all we do; drive excellence and innovationin teaching, learning, and research; embody the principle of“mission first, people always”; partner with place; and proudlytell the UM story.To learn more about the University of Montana, Missoula, and theState of Montana, please visit the links below. Physical Requirements(Qualified candidates must be able to meet minimum requirements andperform the primary functions of the position with or withoutreasonable accommodation.) Physical Screen will be administered prior to a final offer ofemployment .Minimum Required ExperienceHigh School diploma and one (1) year of relevant experience oran equivalent combination of education and experience Letter of Interest – addressing your qualifications andexperience related to the stated required skills for the position.A general letter salutation such as “Dear Search Committee” or“Dear Hiring Manager” is acceptable.Detailed Resume – listing education and describing workexperienceProfessional References – names and contact informationfor three (3) professional references University ofMontana How to ApplyPriority Application Date: Wednesday, February 3, 2021by 11:59 PM (Mountain Time)Complete applications received by the ‘Priority Application Date’will be guaranteed consideration. The position will remain openuntil filled. Candidates are required to submit the followingmaterials online.A complete application Includes: Lifting: Floor to 30 inches, 50 lbs. Floor to 60 inches, 35lbs. Floor to 72 inches, 20 lbs. Floor to overhead, 5 lbssustained, with both hands. (Lifting buffer, Floor to 30”, 70 lbsoptional.)Carrying: 2 handed front carry 35 lbs for 50 feet. One or 2handed carry of 40 lbs up and down stairs. (Carrying buffer upstairs, 70 lbs optional.)Pushing and pulling forces required (handling linen cart 45lbs, during the use of cleaning equipment 25 lbs, handlingjanitor’s cart 5 lbs).Pushing and pulling forces required (handling, pushing andpulling classroom and office furniture, file cabinets, andequipment): 30 lbs sustained at waist level (60 lbs peak)Static trunk forward bending and twisting from a standing,crouching or kneeling position while using tools.Reaching with your arms in all directions, including overheadwith 5 lbs in both hands, sustained.Working overhead (sustained) from various positions (standing,squatting, and kneeling).Occasional climbing of stairs, carrying cleaning supplies andequipment, weighing up to 40 lbs.Balancing when climbing and working on a ladder.Use of various hand grip circumferences and firm hand grippositions while manipulating various tools and equipment (maximum50 lbs).Driving 15-person van. Position DetailsPosition Title: Facilities AssociatePosition Number: 107510Department: UM HousingWork Schedule: Full-time, 1.0 FTE (40 Hours a week), Mondaythrough Friday 7:30 am to 4:00 pm (Summer Break), Will workweekends with 2 consecutive weekdays off throughout the school yearand winter break, 12 months/year, position requires an alternativework schedule.Salary: $14.186/hrUnion Affiliation: FOCUS-MFPEProbationary Period: Six months minimumBenefits Include : Insurance package, mandatoryretirement plan, partial tuition waiver, and wellnessprogram.Criminal Background Investigation is required prior to the Offer ofEmployment In accordance with University regulations, finalists forthis position will be subject to criminal backgroundinvestigations. ADA/EOE/AA/Veteran’s Preference Reasonableaccommodations are provided in the hiring process for persons withdisabilities. For example, this material is available inalternative format upon request. As an EqualOpportunity/Affirmative Action employer, we encourage applicationsfrom minorities, veterans, and women. Qualified candidates mayrequest veterans’ or disabilities preference in accordance withstate law. References: References not listed on theapplication materials may be contacted; notice may be provided tothe applicant. Testing: Individual hiring departments at UMmay elect to administer pre-employment tests, which are relevant toessential job functions. Employment Eligibility: All NewEmployees must be eligible and show employment eligibilityverification by the first date of employment at UM, as legallyrequired (e.g., Form I-9). Job LocationMissoula,Montana, United StatesPositionTypeFull-Time/Regular UM Housing invites applications for a FacilitiesAssociate . The Facilities Associate within UM Housing is anentry level position that performs beginning to intermediateroutine custodial duties, including, but not limited to, sweeping,mopping, vacuuming, floor stripping and refinishing, trash removal,and sanitizing. This position also performs general maintenance,including, but not limited to, changing light bulbs and filters andsupplying paper products and soap.The individual selected for this position will be expected toprovide direct customer service to members of the campus and to thecommunity at large; build and maintain a work atmosphere of trustand respect by establishing open communication among team members;recognizing the value of individual differences at all levels ofthe organization; taking steps to prevent destructive conflict andhandling conflict in an appropriate manner; listening andresponding appropriately to the needs, feelings, and capabilitiesof all individuals; and providing support and assistance to teammembers.This position on occasion provides supervision to 1-6 studentcustodians who are hired during summer & winter breaks to helpwith the cleaning of our facilities. It will also provideleadership to the temporary student custodians by offering support,organization, and guidance.Required SkillsAbility to exercise sound judgment and maintain a safe workenvironmentAbility to effectively work in a team environment; create andmaintain a work atmosphere of trust and respect with all teammembersAbility to work effectively with a diverse populationAbility to exercise leadership skillsDemonstrated ability to read instructions, safety information,policies and procedures, and writeDemonstrated skill in customer service orientationDemonstrated interpersonal, listening, and oral communicationskillsAbility to be organized and effectively manage timelast_img read more

Detailed guide: Coronavirus cases in the UK: daily updated statistics

first_imgCoronavirus (COVID-19) statistics are published daily on the coronavirus in the UK dashboard.Detailed information on tests and testing capacity is published weekly in the NHS Test and Trace reports.,See the latest coronavirus statistics Related coronavirus testing publications See a time series of testing statistics: 20 August 2020 (CSV, 118KB) See a time series of daily deaths: 20 August 2020 (CSV, 8.36KB) See a time series of positive cases by specimen date: 20 August 2020 (CSV, 73.8KB) Coronavirus (COVID-19): testing data methodology NHS Test and Trace: how it works Coronavirus in the UK dashboard ONS deaths statistics PHE surveillance reporting ONS coronavirus Infection Survey resultscenter_img This page is no longer updated with daily statistics.We have consolidated publication of COVID-19 testing statistics to make it easier to find the latest data.Statistics on deaths and COVID-19 cases are published daily on the coronavirus in the UK dashboard.Detailed information on tests and testing capacity is published weekly in the weekly Test and Trace publication.Dashboard of coronavirus cases and deathsThe coronavirus in the UK dashboard is updated daily. It shows the number of cases and deaths in the UK, broken down by region and local authority area.You can download the data in csv format.Number of coronavirus deaths and casesDeathsAs of 21 August, daily deaths statistics are no longer published on this page. These figures are available through the coronavirus in the UK dashboard.Positive casesAs of 21 August, daily positive cases statistics are no longer published on this page. These figures are available through the coronavirus in the UK dashboard.Positive cases statistics are also available via the weekly NHS Test and Trace (England) and coronavirus testing (UK) statistics.Number of testsAs of 21 August, daily testing statistics are no longer published on this page. The ‘tests processed’ figures are available through the coronavirus in the UK dashboard and the weekly NHS Test and Trace (England) and coronavirus testing (UK) statistics.The weekly NHS Test and Trace (England) and coronavirus testing (UK) statistics also include the ‘tests sent out’ figures.Testing capacityAs of 21 August, testing capacity statistics are no longer published on this page. These figures are available in the weekly NHS Test and Trace (England) and coronavirus testing (UK) and through the coronavirus in the UK dashboard.Time series documents (no longer updated) See a time series of capacity statistics: 18 August 2020 (MS Excel Spreadsheet, 22.9KB) (updated every Tuesday at 9:30am)last_img read more

Police warn of IRS scam targeting residents

first_imgFARMINGTON – Local police are warning residents of a recurring scam targeting local area residents over the past couple of days, in which individuals purporting to represent the IRS demand money.A variation of a long-running series of scams, the calls vary from an “IRS debt” to “serious allegations” made against the receivers of the calls. The phone number appears on the caller ID as a New York number, however, when called it is answered by individuals with heavy foreign accents, according to police.When this scam first appeared in the Spring of 2016, receivers of the calls were advised to call U.S. Sen. Susan Collins’ office fraud hotline at (855) 303-9470. For more information, visit www.fcc.gov/consumers/guides/spoofing-and-caller-id.At this time, Farmington police are not aware of anyone that has been defrauded by these calls. Police want to remind the public to be safe with their personal information and never give out dates of birth or Social Security information to anyone over the phone.last_img read more

Phish’s Mike Gordon Spotted Filming With Broad City’s Ilana Glazer Dressed In Meme’d All-White Outfit

first_imgToday, a Phish fan happened upon an exciting sight in New York City: Mike Gordon, clad in his meme’d, all-white getup from Dick’s night two, filming a scene with Broad City‘s Ilana Glazer, presumably for the upcoming final season of the hit comedy series.In the photo that’s circulated, Glazer and Gordon are sitting on a sidewalk bench, both taking photos of Mike’s shoes, socks, and pants in the pose Mike repeatedly used to show off his performance outfits on Instagram throughout this past summer’s tour. The photo seems to indicate that this cameo will not only reference the ongoing Broad City/Phish connection but also riff on Gordon’s quirky social media presence and the outfit that sparked a thousand memes. [Note: Ilana’s outfit in the photo is similarly fabulous]. Check out the photo below: An actual Phish-y cameo on the final season of Broad City would be a fitting culmination of years of mutual admiration and shout-outs between the minds behind the show and the members of the band. Glazer and her Broad City co-star and co-creator, Abbi Jacobson, have always made a habit of dropping Phish references into the show. Abbi’s character on Broad City—and the real-life Abbi she’s based on—are big Phish fans, and often joke about her love for the band, from flirting with hippie dudes by dropping “Cavern” lyrics to flashing images of “Big Daddy Trey” across the screen during a mushroom trip episode.Earlier this year, during his February 13th, 2018 solo acoustic show in Wilmington, Delaware, Trey Anastasio took a moment to speak about his lofty opinions of Glazer and Jacobson. As Trey joked,I should dedicate this one to two of the coolest women on Earth [points to someone in the audience], you know who I’m talking about…Do you? You know Abbi Jacobson and Ilana Glazer? I put ’em in like 5th and 6th [coolest], which is pretty good, because my wife, Sue [Anastasio], is number 1, and my daughters are two and three…Then, during this year’s Phish summer tour, Abbi Jacobson attended the band’s first of two shows at Camden, NJ’s BB&T Pavilion. As documented in a number of amusing posts on Abbi and Mike Gordon’s Instagram pages, Jacobson mingled backstage and talked Phish with “The Boys,” taking selfies with Page McConnell, posing for photos with Trey, and playing bass guitar tug-of-war with Mike. According to one of the posts, she also mentioned to Mike that her favorite album is Rift. The band went on to play the title track from Rift during the show, so you may just have Abbi to thank for that one.We can’t wait to see what Abbi and Ilana are cooking up with Mike. There’s only one thing to say: “Yas queen!!!”Broad City season 5 is scheduled to air on Comedy Central in early 2019. For more information, on the show’s final season, or to catch up on the first four, head here.last_img read more

Plant Molecular Diagnostic Lab

first_imgWhen farmers are fighting a disease that is attacking their crop, time is of the essence. “In fact, if you go out to a field and look at a diseased plant, perhaps in as quick as 24 hours, that whole field could be covered by this pathogen if not treated immediately. We needed some type of technology (to) correctly and quickly diagnose this pathogen. For that purpose, molecular diagnosis can be very helpful,” said Emran Ali, a plant pathologist with the UGA College of Agricultural and Environmental Sciences.The UGA Plant Molecular Diagnostic Lab provides a fast and efficient option for diagnosing plant diseases, according to Ali, who is the principal investigator of the lab located on the UGA Tifton campus.Part of the CAES Department of Plant Pathology, the lab operates on a fee for service basis. Through molecular and serological methods, technicians in the lab provide advanced testing for diseased plant samples that are affected by bacteria, fungi, viruses or nematodes.Molecular diagnosis is much faster, simpler and more accurate, and can be performed and interpreted by people with no specialized taxonomical expertise, Ali said. The techniques also allow the detection and identification of non-culturable disease-causing organisms like viruses, viroids and phytoplasmas.Some common techniques used to identify plant diseases rely on culture-based morphological approaches and can require extensive knowledge of classical taxonomy, he said. Conventional culture-based methods can take 3 to 15 days to diagnose a disease.Advanced molecular testing typically diagnoses a disease in as little as 5 minutes and up to 3 hours, based on test methods.“There are a lot of new diseases and pathogens that are getting introduced every day,” Ali said.Ali and the lab personnel provide molecular disease diagnostic support to UGA Cooperative Extension agents and specialists, UGA CAES scientists, commercial farmers, homeowners and the Georgia Department of Agriculture. They cover a wide range of plant species, including peanuts, cucurbits, tomatoes, roses, citrus and onions.Ali stresses that the lab can only provide a diagnosis for diseased plant materials. Growers should contact their local UGA Extension agent or the UGA Plant Disease Clinics to discuss disease control and management options.The cost of the lab’s services varies and is dependent on the method used for diagnosis. Charges usually range from $40 for PCR to $60 for real-time PCR.For additional details about the UGA Plant Molecular Diagnostic Lab, go to site.caes.uga.edu/alimdl or call the lab at 229-386-3070.last_img read more

HHS awards 3 contracts for more H5N1 vaccine

first_imgNov 20, 2006 (CIDRAP News) – The US government today announced the awarding of three contacts to buy enough additional H5N1 avian influenza vaccine to immunize almost 2.7 million people, at a cost of $199.45 million.The Department of Health and Human Services (HHS) said the contracts are for a total of 5.3 million 90-microgram (mcg) doses of vaccine. The awards include $117.9 million to Sanofi Pasteur for 3.7 million doses, $40.95 million to Novartis for 800,000 doses, and $40.6 million to GlaxoSmithKline (GSK) for 800,000 doses.HHS said last week that the existing national stockpile of pre-pandemic vaccine is enough to vaccinate about 3 million people with two 90-mcg doses each. The stockpile contains 7.3 million doses, but about 1.4 million doses have begun to lose potency, leaving 5.9 million doses of full-strength vaccine.”These newest vaccine purchases supplement the existing stockpile of 5.9 million doses of H5N1 vaccine and build on the department’s plans to buy enough vaccine for 20 million people,” HHS said in a news release.Sanofi Pasteur said its new contract is for a vaccine based on a clade 2 (subgroup 2) H5N1 virus. The existing stockpile is based on clade 1 viruses, which circulated and caused human cases in Thailand, Vietnam, and Cambodia in 2004 and 2005. Clade 2 viruses circulated in birds in China and Indonesia in 2003-04 and spread to the Middle East, Europe, and Africa in 2005 and 2006.In a pandemic planning update last week, HHS noted its intention to begin stockpiling vaccine based on clade 2 viruses, out of concern that a vaccine based on one clade won’t work well against a pandemic strain stemming from a different clade.Today’s announcement comes less than 3 weeks after experts assembled by the World Health Organization cautioned governments against rushing to stockpile pre-pandemic flu vaccines, saying too many scientific uncertainties remain. They said vaccines that work against one clade may not work against others and that the level of measured immune response representing adequate protection is unknown.Although today’s HHS announcement spoke of 5.3 million doses of vaccine, some statements from the vaccine manufacturers seemed to imply that the actual number of doses and the amount of antigen per dose are not yet certain.Sanofi Pasteur, which has a vaccine plant in Swiftwater, Pa., said its new contract is worth “up to $117.9 million,” the final amount depending on the number of doses that can be made from the bulk vaccine. “The bulk concentrate is being produced now,” the company said. “Potency testing will be conducted over the next few months to determine the concentration of the bulk material.”Sanofi previously won a $13 million contract in September 2004 to make 2 million doses of H5N1 vaccine. In September 2005 the company won what was then listed as a $100 million contract to make more of the vaccine. Today’s company statement said that contract is worth $150 million.Novartis will make the H5N1 vaccine at its plant in Liverpool, England, in 2007 after production of next year’s seasonal flu vaccine is finished, the company said in a statement.”The US government will determine the dosage and formulation of the final product, including potentially adding an adjuvant such as MF59, at a later date,” the statement said.Earlier this year Novartis acquired Chiron Corp., which had won a $62.5 million H5N1 vaccine contract award from HHS in October 2005.A GSK statement said the company would make bulk H5N1 antigen at its “recently acquired production facilities in North America.” A Canadian Press report today quoted a company official as saying the vaccine would be made at a plant in Ste-Foy, Quebec.Under the contract, GSK said, HHS may require that the vaccine include an adjuvant, which could reduce the amount of antigen needed per dose. The company said in July that preliminary results of a clinical trial of an H5N1 vaccine with a novel adjuvant looked promising.See also:Nov 20 HHS news releasehttp://archive.hhs.gov/news/press/2006pres/20061120.htmllast_img read more

Croydon’s city dream

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img

Providing women with contraception could save poor countries billions

first_imgTopics : Low- and middle-income countries could save billions of dollars a year in health care costs by investing in making contraception widely available to women, researchers said on Tuesday.Among 923 million women wanting to avoid pregnancy in these countries, about one in four does not use modern contraception, according to a new report by the Guttmacher Institute, a US-based sexual health research and policy organization.Making contraception available to everyone, including counseling on different methods and follow-up services, would require increasing annual spending to $12.6 billion from $7.1 billion spent on it now, the report said. The issue has taken on new urgency during the coronavirus pandemic, since in many places resources have been diverted away from sexual and reproductive health care, and women have lost access to contraception or abortion services.”Irrespective of the lockdown, young people are still having sex,” said Patrick Segawa, a team leader with the youth-led organization Public Health Ambassadors Uganda.”If the government does not take initiative or be proactive… we’ll find that by the time we go into the post-COVID-19 era we will be having lots of cases of teenage pregnancies,” he said.Each year, 111 million unintended pregnancies occur in low-and middle-income countries, accounting for 49% of all pregnancies in those countries, according to the Guttmacher Institute.The United Nations has estimated that the pandemic could cause an additional 7 million unwanted pregnancies this year worldwide.center_img The reduction in unintended pregnancies would save about $16 billion a year in maternal and newborn care, or about $3 in savings for every extra $1 spent, according to the report.”What we’ve shown is that it’s affordable to put sexual and reproductive health as a part of a universal health coverage program,” said Elizabeth Sully, senior research scientist at Guttmacher.”The potential gains are well within reach and the costs of inaction far too high,” she told journalists in an online briefing.Many women are either uninformed about modern contraception, can’t afford it or can’t access it, and unmet needs are particularly high among adolescents, the study showed.last_img read more

Draft of UCITS V aims to tighten rules for custodial services

first_imgThe Council of the European Union has agreed on a draft for an amendment to the UCITS Directive that would tighten rules for delegating custodial services.The Permanent Representatives Committee of the Council said amendments on UCITS had become necessary because the interpretation of the current directive had had “consequences that came to the fore following the Lehman bankruptcy and the Madoff fraud case”.The Council said: “The depositary is liable for losses suffered as a result of a failure to perform its duties, though the precise contours of those duties is defined by the laws of the member states.“As a result, different approaches have developed across the EU.” In the most recent draft of the Directive, the Council states: “It is necessary to clarify that a UCITS should appoint a single depositary having general oversight over the UCITS’s assets.”Only certain custodial services such as the physical safekeeping of the assets can be outsourced under UCITS V, but other services such as the actual oversight of sales and evaluations can no longer be delegated to third parties.“In order to ensure a harmonised approach to the performance of depositaries duties in all member states irrespective of the legal form taken by the UCITS,” the Council continued, “it is necessary to introduce a uniform list of oversight duties that are incumbent on both a UCITS with a corporate form (an investment company) and a UCITS in a contractual form.”Another point clarified in the draft was the outsourcing of certain services to securities settlement system (SSS).Some commentators had argued that the AIFM Directive had opened a loophole for banks to evade liability for assets in custody by using central securities depositories (CSD) in which they would still hold the assets under custody directly.According to the AIFMD, delegating custody services triggers liability, but analysts disagreed on whether using an SSS would also qualify as a delegation. The draft on a new UCITS Directive now clearly states “entrusting the custody of securities of the UCITS to a CSD, or to a third-country CSD, should be considered a delegation of custody function”.The Council noted the “revised compromise, as set out in document 17095/13, is now supported by a strong qualified majority of delegations” and would now be put before the European Parliament.However, the Council added that “some isolated concerns” remain in relation to sanctions, depositary liability and eligibility of entities to perform depositary functions.last_img read more

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