Move to Automated Exchange of Information Causing Issues for Financial Services Practitioners

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsApp ALERT # 2 ON POTENTIAL TROPICAL CYCLONE NINE ISSUED BY THE BAHAMAS DEPARTMENT OF METEOROLOGY THURSDAY 12TH SEPTEMBER, 2019 AT 9 PM EDT Bahamas, September 18th, 2017 – Nassau – The DPM was Deputy Prime Minister and Minister of Finance the Hon. Peter Turnquest said among the issues financial services practitioners are contending with is the move to automatic exchange of information, particularly for matters related to taxation in other jurisdictions.The initial standard in this regard was the Exchange of Information on Request, espoused by the OECD-hosted Global Forum on Transparency and Exchange of Information for Tax Purposes, DPM Turnquest said at the Securities Industry Act, 2011 and Investment Funds Act, 2003 Annual Briefing hosted by the Securities Commission of The Bahamas at the British Colonial Hilton, Thursday, September 14, 2017.He said The Bahamas implemented a number of key legislative initiatives to ensure the legal and regulatory framework as well as supporting processes and procedures were in place to satisfy the Exchange of Information on Request standard.“These involved, among other things, ensuring reliable accounting records were maintained and accessible, and that the beneficial owners of entities, structures and legal arrangements were identified and properly maintained.“The legislative initiatives included the International Tax Cooperation Act, 2010, which facilitated the implementation of international tax agreements and tax information sharing under those agreements.   The Government also implemented a series of legislative amendments including amendments to the International Business Companies (IBC) Act, the Partnership Limited Liability Act and the Segregated Companies Act, amongst others, in 2011, and the IBC Accounting Records Order of 2016, to meet the information exchange standards.   After having undergone the Global Forum’s most recent review – the Phase 2 review, the jurisdiction is assessed as Largely Compliant.”The DPM said the Foreign Account Tax Compliance Act or FATCA was adopted by the United States Congress in 2010, and of course, The Bahamas made the necessary legislative and procedural changes to meet the FATCA requirements.He explained that by September 2014, the G20 and leaders of the Organisation for Economic Cooperation and Development had endorsed the Common Reporting Standard or CRS.The CRS facilitates automatic exchange of account information, on a confidential basis with information from financial institutions being exchanged annually.   According to an OECD June 2017 report, some 101 jurisdictions had committed to implementing this newest standard on tax transparency and undertaking actual information exchanges by 2017 or 2018.“You would be aware that the Government is committed to adopting the multilateral approach to sharing information under the CRS regime.   We simply cannot afford, nor do we wish to have, the reputation of being the ‘last tax haven standing’ as the Head of the OECD’s Global Forum Secretariat on Transparency and Exchange of Information for Tax Purposes, Monica Bhatia, referred to the jurisdiction prior to the Government’s commitment to the Multi-lateral approach.”DPM Turnquest said, “We must protect our sector from the fallout of blacklisting, and we want to be singled out for markers such as excellence in service, being business friendly, and product innovation–not for being a place to hide or launder illicit funds of any kind.   Undoubtedly, this will impact reporting requirements and hence compliance costs in most, if not all, financial institutions.”PressRelease: BIS The Luxury of Grace Bay in Down Town Provocenter_img Related Items:#magneticmedianews Electricity Cost of Service Study among the big agenda items at September 11 Cabinet meeting Recommended for youlast_img read more

Pass the wine metal mouth The whole tooth about wearing adult braces

first_img3:03 I’m 51 years old, and I wear braces. Some days, I almost forget I have them on. Other times, when I’m doing something outwardly grown-up, like buying wine or meeting with my daughter’s fifth-grade teacher, I’m achingly aware that my teeth are sporting accessories usually seen on kids who don’t remember a time before YouTube.But I’m not alone. The American Association of Orthodontists reports that as of 2016, 28 percent of the patients being treated by its members are over 18. That’s more than 1.6 million people. And I can tell you from experience that many of them have probably wondered at least once if they’re too old for this.I’ve been down this metal-mouthed road before. The first time I had braces, I was 13 years old, it was the 1980s and, unlike today, braces didn’t even attempt to disguise what they were.Back then, braces were silver, they couldn’t be hidden, and it seemed like orthodontists weren’t even trying. There were none of these clear brackets, or see-through, removable aligners, or rainbow-colored elastic bands to match your school colors. No one thought to put braces on the back of your teeth. Get real, kid.I didn’t even go to an orthodontist for my first set of braces. My regular dentist told my mother he could handle it himself. I’m not sure that’s a choice an informed patient would make today. But again, 1980s.With my 9-year-old daughter, Kelly, on a bullet train in Japan just weeks after I got braces. Of the two of us, Kelly would seem the more appropriate age for orthodontics, but I’ve since learned that “appropriate” is relative. Gael Fashingbauer Cooper My teenage braces did their job. My teeth look fairly straight in my college photos and my wedding album. But I never had a retainer or any follow-up treatment. I mentally put braces in the past, with acne and algebra, and moved on.But as the years went by, I noticed what I called an “overbite” and what I later learned was really an “overjet.” In an overbite, the upper teeth overlap the lower. In an overjet, the teeth kind of lean forward. No one ever called it out to me — thank you friends for not being jerks — but in this age of social media, I began to hate selfies, to wonder why smiling didn’t come naturally to me, and to stare at my friends’ dazzling Facebook grins with envy.It’s embarrassing to write this, but I saw my overjet as a personal failure, on par with getting a cavity for not brushing. Somehow in my head, admitting that I needed orthodontic treatment was like admitting I messed up. It sounds stupid when I write it down — it’s not like I caused it by yanking my teeth apart with a crowbar — but there it is. I still remember how tears caught in my throat over a decade ago, the first time I asked a dentist for an orthodontist referral. Comments And as promised, the braces are working. With 20 months down and about four to go, I can see that the overjet has shrunk to nearly nothing. The gaps where the extracted teeth once were have filled in. And I notice surprising changes every day. My lips now make more of a model-esque Cupid’s bow, something I used to envy in Facebook photos of others. Both edges of my smile rise up evenly now. I’m slowly acquiring the look I envied in those photogenic friends, even if only I notice it.Dr. Brent Larson, the president of the American Association of Orthodontists, and Dr. Lee Graber, secretary-general of the World Federation of Orthodontics, patiently took me through the changes in braces technology over the years, and answered all my questions about adult orthodontics.”As long as you’re alive, teeth can move,” Dr. Larson said.Dr. Graber told me his oldest orthodontics patient was 88, was delighted with his braces, and is now “still going strong into his 90s.”But it wasn’t the technology changes that finally made me decide to get braces at 50. I had to cross a mental line that I honestly didn’t think I could ever get myself over. And maybe you have your own mental line. It might not be braces, but it’s some kind of risk that for whatever reason, is important to you. Maybe it doesn’t matter to anyone else, but you think about it all the time, and wonder if you can ever force yourself to make it happen.bracesoldnewThe braces on the left date to 1929, and feature actual gold bands on the top teeth. They’re a heck of a lot less subtle than the modern braces on the right, which like mine, feature translucent brackets. Even the wires are impressive: They’re heat-activated nickel-titanium wires developed with help from NASA. American Association of Orthodontists I read recently that Warren Buffett, the Nebraska billionaire, reportedly has three boxes on his desk — IN, OUT and TOO HARD. Who can’t relate to that? I mentally put “braces” in my TOO HARD box for years and years.Not all life improvements are doable. Money prevents us from some. Family or job responsibilities eliminate others. But somewhere in your mental TOO HARD box, there might be a big dream you can actually accomplish.When people would write in to Dear Abby and say they dreamed of going back to college, but worried that they’d be however-many years old when they graduated, they’d get the blunt response: “How old would you be by then if you didn’t get your degree?”The point was clear: You can keep growing and changing and improving yourself as you age, or you can get older and always regret never taking the plunge.If you need to point to someone who discovered that it wasn’t too late to make a major change in her life, you can point to me.I’m 51 years old, and I wear braces. Share your voice Tags Top 5 foods I’ll devour after braces 2 Culture Wellness Now playing: Watch this: I still remember how tears caught in my throat over a decade ago, the first time I asked a dentist for an orthodontist referral. I kept that little green card for probably a year — the hygienist had casually scribbled on it, “severe overbite.” My teeth weren’t causing me any physical issues, but that one word, “severe,” made me think I was a lost cause. It didn’t help that she also cheerily remarked that an orthodontist would probably have to break my jaw to treat my teeth. What? Am I torture-victim Theon in Game of Thrones? Eventually, I threw the card away and tried not to think about it.You know how you can set email reminders to pop up regularly, daily or weekly or whatever? For about three years, I had a reminder that popped up every Wednesday that just said “call about ortho.” And like a tired kid punching the snooze alarm, I slammed it shut and did nothing. I slept on it for literally years. Zzzzz…soph-1I can’t believe my boss made me share this photo, but here I am in 1982, the first time I had braces. The brackets were not see-through and subtle like brackets are today.  Gael Fashingbauer Cooper It was my husband, who also had braces in the 1980s, who actually woke me up. His top teeth are an orthodontist’s dream, but a few bottom teeth are now crooked. They bothered him, but rather than ignore the issue for a decade like I did, he decided to take action immediately, simply walking into an orthodontist’s office and signing up for a consultation.He convinced me to make an appointment, and I was blown away by how different the experience was from what I had dreaded. The staff was exceptionally friendly, the office was clean, crisp and high-tech, the treatment methods today were as different from those of the 1980s as dial-up internet is from broadband. Brackets are now clear, X-rays are digital, appliances are smaller and more comfortable.But at nearly 50, was I just too old for braces?My treatment wasn’t going to be easy. I couldn’t get away with clear aligners such as Invisalign, my teeth needed more. But that early hygienist had been wrong: No one would need to break my jaw.I did need two teeth extracted to make room for the teeth to move, and believe me, that was the worst part of this experience that’s now going on two years. The teeth were healthy, solid adult teeth that did not want to be evicted, and having them pulled was one of the most unnatural and disturbing experiences I can remember.”That was among the top 10 toughest extractions of my career,” my dentist later told me. You and me both, sister.After the extractions healed, on went the braces. My new orthodontist installed clear brackets, a huge improvement on the silver ones I had as a kid. The clunky silver wire that helped give old-school braces their train-tracks nickname is still there, yes. But in some photos, it’s not clear on first glance I have anything on my teeth at all.iyaz-jpgEnlarge ImageI’m not the only one at CNET who’s worn braces as an adult. Here’s Iyaz Akhtar showing off his shiny smile at Google headquarters in 2018. He’s since had his braces removed. Iyaz Akhtar This path to a better smile ain’t cheap. A spokesperson for the American Association of Orthodontists said that while her group doesn’t collect information on average costs, the American Dental Association does. In a 2016 survey, that group reported that fees for comprehensive treatment of adolescents ranged from $4,978 to $6,900, and that the range for adults was slightly higher, ranging from $5,100 to $7,045.I had to squeeze my savings to come up with a decent down payment, and there’s a monthly bill similar to a car payment. My dental insurance doesn’t cover any of it, and sometimes, it’s a scramble to pay.Plus, braces require more constant upkeep than I’d have given them as a teen.I can’t eat certain things, from the obvious (caramels or corn on the cob) to the surprising (certain cereals and even rice are a horror to floss out). Cleaning my teeth requires special disposable flossers that I buy online. Brackets pop loose. Wires poke me. Monthly appointments to tighten the braces leave me popping Advil and eating soup. As a teen, I probably would’ve dramatically thrown myself on the bed and demanded to know why my parents were putting me through this.But I’m 51 now, and my sense of what’s painful in life has been tempered by real experiences. I’ve lost loved ones. I’ve worried over biopsies. Two years of dental inconvenience doesn’t make my own top 10 list of life hardships, or maybe even my top 100.last_img read more

Mumbai man arrested for repeatedly raping daughter for months

first_img[Representational image] Creative CommonsIn a horrifying incident, a 62-year-old man sedated and raped his teenaged daughter in Mumbai for a few months. The accused has been arrested.According to the complaint filed by the victim, the father used to mix sedatives in her dinner every night. When she fell unconscious, he would proceed to rape her, reports Times of India.The man works at a private firm and divorced the victim’s mother five years ago. The victim and her younger siblings were staying with their father.The girl fell something amiss since she used to wake up every morning feeling ill and nauseous. She then suspected that her food had something to do with it. Her suspicions increased when her father insisted that she go to her room immediately after dinner every night.However, on the night of March 27, Wednesday, on the pretext that she is unwell, the girl opted to skip dinner. However, her father brought dinner to her room and insisted that she eat. When he left the room, she threw the food away and pretended that she was asleep. A little while later, her father came into the room and raped her. She tried to fight him off and raise an alarm but her father gagged her and threatened her with dire consequences. The girl’s stepmother and siblings were in the next room.The victim, unable to remain silent on the issue, posted her situation on social media and told her friend. The friend then took her to an NGO, who helped her lodge a complaint against her father with the Naya Nagar police in Mumbai.”We arrested him under section 376 (rape) of the Indian Penal Code (IPC). The Thane court remanded him in police custody till April 1,” Kailash Barve, a senior police inspector at the Naya Nagar police station told Hindustan Times.Other IncidentsUnfortunately, another similar took place in Odisha when a 45-year-old man was arrested for raping his 13-year-old daughter earlier this month. The girl, a student of class eight filed a complaint against her father. The police acted on the complaint and arrested the perpetrator. He was charged under many sections of the Indian Penal Code as well as the Protection of Children from Sexual Offences (POCSO) Act.The father was allegedly raping the little girl repeatedly for a month before she had enough and filed a complaint, reports NDTV.last_img read more

Crying Toddler On Widely Shared Time Cover Was Not Separated From Mother

first_imgJohn Moore/Getty Images/Via NPRA 2-year-old Honduran girl cries as an official searches her mother near the U.S.-Mexico border earlier this month in McAllen, Texas. For many, the image has become indelibly associated with a Trump administration policy that for weeks separated migrant children from their parents — but the girl’s father says she was not separated from her mother.Updated at 4:43 p.m. ETIn the image, a little girl wails in uncomprehending sadness and anxiety.Her face flushed nearly as pink as her shirt and shoes, she stares up at her mother and a U.S. official, both too tall to be seen. The 2-year-old Honduran child’s panic is so palpable, it’s difficult for a viewer not to feel it, too.Perhaps it’s little wonder, then, that the photograph became linked with the controversy over a Trump administration policy that had, before the president walked it back Wednesday, separated more than 2,300 migrant children from their parents since early May.The image has traveled so widely and has become so recognizable, Time could pull her figure out of context and set it beside a looming Trump on the magazine’s latest cover, rendering it a symbol of the “reckoning after Trump’s border separation policy.”TIME’s new cover: A reckoning after Trump’s border separation policy: What kind of country are we? https://t.co/U4Uf8bffoR pic.twitter.com/sBCMdHuPGc— TIME (@TIME) June 21, 2018There’s a complication, though: The little girl was not ultimately separated from her mother, according to her father. The man, whom Reuters identified as Denis Valera, has told multiple media outlets that mother and daughter were detained together while seeking asylum in Texas.Border Patrol agent Carlos Ruiz backed this account in an interview with CBS News. He said that when he encountered the mother after her illegal crossing, he detained her for a proper search — but asked her to set her daughter down before doing so.“So the kid immediately started crying as she set her down,” Ruiz told the network. “I personally went up to the mother and asked her, ‘Are you doing OK? Is the kid OK?’ and she said, ‘Yes. She’s tired and thirsty. It’s 11 o’clock at night.’ ““They’re using it to symbolize a policy, and that was not the case in this picture,” he added. “It took less than two minutes. As soon as the search was finished, she immediately picked the girl up, and the girl immediately stopped crying.”The White House pointed to the father’s comments as proof the firestorm of controversy over Trump’s policy was overblown — and singled out two of Trump’s frequent targets as perpetuating it.“It’s shameful that dems and the media exploited this photo of a little girl to push their agenda,” press secretary Sarah Sanders tweeted Friday. “She was not separated from her mom. The separation here is from the facts. Dems should join POTUS and fix our broken immigration system.”It’s shameful that dems and the media exploited this photo of a little girl to push their agenda. She was not separated from her mom. The separation here is from the facts. Dems should join POTUS and fix our broken immigration system. #ChangetheLawshttps://t.co/Y6KrTp4Ulk— Sarah Sanders (@PressSec) June 22, 2018President Trump, for his part, tweeted just hours earlier that “Republicans should stop wasting their time on Immigration until after we elect more Senators and Congressmen/women in November.”The executive order he signed Wednesday ended his administration’s policy of separating families at the border, though it remains unclear whether the alternative it presented can clear a likely legal hurdle — and questions persist about the fate of the children already separated from their parents during the past six weeks.“Dems are just playing games, have no intention of doing anything to solves this decades old problem,” Trump continued in his tweet. “We can pass great legislation after the Red Wave!”A hard-line conservative bill on immigration failed a House vote Thursday, and GOP leaders had to delay a more moderate measure for lack of votes within their own party. And any legislation that passes is expected to face a steeper climb in the Senate.Meanwhile, Time has published a correction on a story referencing the image.“The original version of this story misstated what happened to the girl in the photo after she taken from the scene,” read the correction on the story first published Tuesday. “The girl was not carried away screaming by U.S. Border Patrol agents; her mother picked her up and the two were taken away together.”Nevertheless, Time‘s editor in chief said he stands by the decision to use the image on the magazine’s cover. Edward Felsenthal explained why in a statement:“The June 12 photograph of the 2-year-old Honduran girl became the most visible symbol of the ongoing immigration debate in America for a reason: Under the policy enforced by the administration, prior to its reversal this week, those who crossed the border illegally were criminally prosecuted, which in turn resulted in the separation of children and parents. Our cover and our reporting capture the stakes of this moment.”The photographer who took the picture, John Moore of Getty Images, told NPR’s Lulu Garcia-Navarro earlier this month that he doesn’t know what happened to the mother and child after they were detained.“I would very much like to know,” Moore said. “Ever since I took those pictures, I think about that moment often. And it’s emotional for me every time.”Immigration and Customs Enforcement did not immediately respond to NPR’s request for comment. But in a statement to The Washington Post, a spokesman said the mother, whom they identified as Sandra Sanchez, is now at the South Texas Family Residential Center in Dilley, Texas.“ICE said Sanchez was previously deported to Honduras in July 2013,” the Post added.Valera told Reuters that the girl’s mother left Honduras for the U.S., where she has family, without telling him she was bringing their daughter. He later saw the image of his daughter crying on television.“Seeing what was happening to her in that moment breaks anyone’s heart,” he said.Copyright 2018 NPR. To see more, visit http://www.npr.org/. Sharelast_img read more

Puma teams with Playseat to get gamers rockin

first_imgDespite the explosion in popularity of e-sports, some still dispute the veracity of gaming being called a “sport”, but sportswear giant Puma doesn’t need any convincing. It has teamed up with gaming gear company Playseat to develop the Playseat | Puma game seat, which was unveiled at Gamescom last week.Charles Johnson, Global Director of Innovation at Puma believes, “we have to start seeing gamers as athletes, with requirements particular to their sport. As a sports company, we want to offer these athletes the products they need to perform at the very top.”Taking the form of an ergonomic rocking chair that makes use of breathable materials and features four knitted side-pockets for storing phones, games controllers and remote controls, we’re not sure the game seat will go all the way to achieving Johnson’s lofty athletic aspirations, but the ability to easily rock back and forward might help get some blood flowing and prevent numb bums in marathon gaming sessions.To prevent the chair sliding about when the action gets frenetic, the chair features rubber feet to provide grip in what the designers call “attack mode” (leaning forward), stability in “cruise mode” (reclining normally), and support in “defense mode” (leaning back).”Gaming is greater with full sitting control,” says Fernando Smit, President and Founder of Playseat. “That’s why we felt the need to change sitting of gamers from the traditional couch or even on the floor in front of their screens, so we created something truly unique.”The Playseat | Puma game seat certainly looks comfortable enough, and who doesn’t like a good rock every now and then, but as with any chair the proof is in the sitting. Those interested in taking a load off and getting their game on can try the seat out from November.Source: Playseat I consent to the use of Google Analytics and related cookies across the TrendMD network (widget, website, blog). Learn more We recommend Privacy policy Google Analytics settings Powered by Yes Nolast_img read more