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1.1 UCITS Update
There have been a number of developments over the quarter:
The The European Union (Undertakings for Collective Investment in Transferable Securities) (Amendment) Regulations 2016 implemented the UCITS V Directive 2014/91/EU ("UCITS V") into law in Ireland. The European Commission Delegated Regulation 2016/438 supplementing the UCITS V Directive 2009/65/EC with regard to obligations imposed on depositaries ("UCITS V Level 2") came into effect on 13 October 2016 and also sets out certain provisions that must be included in depositary agreements.
ESMA and Central Bank Q&As
On 12 October 2016 the European Securities and Markets Authority ("ESMA") published an updated Q&A on the application of the UCITS Directive. It includes four new questions and answers on: the meaning of a "regulated market" under the UCITS Directive; translation requirements in relation to the remuneration disclosure; reinvestment of cash collateral; and the commencement of periodical reporting under Article 13 of the Securities Financing Transactions Regulation 2015/2365 ("SFTR") (which requires UCITS management companies ("Mancos") and UCITS investment companies to provide information to investors on the use made of SFTs and total return swaps in the annual report of each UCITS under management, as well as in each half-yearly report for UCITS in the next annual or half-yearly report to be published after 13 January 2017 which may relate to a reporting period beginning before that date).
On 21 November 2016 ESMA published another Q&A with two new Q&As on how investment limits in Articles 55(1) (a UCITS may acquire the units of UCITS or other collective investment undertakings referred to in Article 50(1)(e), provided that no more that 10% of its assets are invested in units of a single UCITS of other collective investment undertaking) and Article 56(2)(c) (a UCITS may acquire no more than 25% of the units of any single UCITS or other collective investment undertaking) of the UCITS Directive should be applied where a UCITS wants to invest in an umbrella fund. It is consistent with the existing Irish position applied by the Central Bank and states that the limitations in Article 56(2)(c) and Article 55(1) should apply at the sub-fund level rather than at the umbrella fund level.
On 19 December 2016 the Central Bank of Ireland (the "Central Bank") published a 15th edition of the UCITS Q&A. It updates a question on the requirements for an Irish authorised UCITS to acquire Chinese shares through the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect infrastructure (see also 1.8 below) and replaces a question and adds two new questions on the transitional arrangements for an authorised UCITS/Manco to comply with the final CP86 rules and guidance (see 1.3 below) including clarification that changes to a UCITS business plan only need to be cleared in advance by the Central Bank where the Manco proposes to "engage in any significant new activities". Another question is added confirming that the Central Bank does not allow sub-funds within umbrella funds (including ICAVs) to have separate auditors.
Guidelines on sound remuneration policies
On 14 October 2016 ESMA published guidelines on sound remuneration policies under the UCITS Directive. They apply to Mancos and investment companies without a designated Manco. The guidelines provide clarity on the requirements under the UCITS Directive for Mancos when establishing and applying a remuneration policy for key staff. The guidelines will ensure a convergent application of these provisions and provide guidance on the governance of remuneration, requirements on risk alignment and disclosure and apply from 1 January 2017.
1.2 AIFMD Update
There have been a number of developments in relation to the Alternative Investment Fund Managers Directive 2011/61/EU ("AIFMD") over this quarter:
ESMA Q&As
On 6 October 2016 ESMA published an updated Q&A on the application of AIFMD. It includes one new Q&A on the commencement of periodical reporting under Article 13 of the SFTR for alternative investment fund managers ("AIFMs") which requires AIFMs to provide information to investors on the use made of SFTs and total return swaps in the annual report of each alternative investment fund ("AIF") under management in the next annual report to be published after 13 January 2017 which may relate to a reporting period beginning before that date.
On 16 November 2016, ESMA published another updated Q&A to include questions relating to the notification of AIFs and delegation. It states that the creation of a share class, which is to be marketed cross-border within an already notified (sub-)fund, does not constitute a material change of a notification and therefore does not require a new notification. Material changes to existing notifications require the AIFM to hand in a full set of documentation with the revised notification letter and AIFMs must highlight any amendment to the original notification letter and accompanying documents.
It also provides that where a third party performs a function stated in Annex I of AIFMD, this function should be considered as delegated by the AIFM to the third party. Therefore, the AIFM is responsible for ensuring compliance with the AIFMD delegation requirements. Also it clarifies that the performance of Annex I functions is only permitted for AIFs which are internally-managed under Article 5(1)(b). Where the AIF appoints an external AIFM pursuant to Article 5(1)(a), the external AIFM is through its appointment as AIFM of the AIF responsible for providing the functions in Annex I. The external AIFM may delegate to third parties the
task of carrying out functions on its behalf in accordance with Article 20. The AIF is, however, not a 'third party' in accordance with Article 20(1).
On 16 December 2016 ESMA published a further version of its Q&A. It updates one Q&A on reporting obligations by non-EU AIFMs under Article 42 of AIFMD clarifying the circumstances under which information on EU master AIFs should be reported to competent authorities.
Central Bank Q&As
On 25 November 2016, the Central Bank published the 21st edition of its AIFMD Q&A. A new question relating to pension scheme arrangements under EMIR is included which states that it may be possible for a retail investor alternative investment fund ("RIAIF") or a qualifying investor alternative investment fund ("QIAIF") (or a sub-fund in the case of an umbrella RIAIF or QIAIF) which meets the relevant requirements to qualify as a pension scheme arrangement under Article 2(10)(a) of EMIR. Accordingly, the RIAIF or the QIAIF (or sub-fund) which qualifies as a pension scheme arrangement will limit investment in it to such institutions.
On 19 December 2016 the Central Bank published a further AIFMD Q&A. It updates a question on the requirements for an Irish authorised AIF must meet to acquire Chinese shares through the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect infrastructure (see also 1.8 below) and adds two new questions on the transitional arrangements for an authorised external AIFM or an authorised internally managed AIF to comply with the final CP86 rules and guidance (see 1.3 below) including clarification that changes to an AIFM programmes of activity only need to be cleared in advance by the Central Bank where the AIFM proposes to "engage in any significant new activities". Two other questions are added confirming that the Central Bank does not allow sub-funds within umbrella funds (including ICAVs) to have separate auditors and setting out requirements for an existing QIAIF with a wholly owned Irish subsidiary that is converting to a private company limited by shares.
On 3 January 2017 the Central Bank published the 23rd edition of its AIFMD Q&A. New questions are added on loan originating QIAIFs which clarify the scope of the extension of permitted activity – see further below.
AIF Rulebook update - LQIAIFs
On 2 December 2016 the Central Bank published a notice of intention to increase the range of investments an Irish authorised loan originating QIAIFs ("LQIAIFs") may make from 3 January 2017. On this date the Central Bank published another version of its AIF Rulebook which extends the scope of permitted activity for LQIAIFs. It states: "The loan originating Qualifying Investor AIF shall limit its operations to the business of issuing loans, participating in loans, participations in lending and to operations relating thereto, including investing in debt and equity securities of entities or groups to which the loan originating Qualifying Investor AIF lends or which are held for treasury, cash management or hedging purposes."
In addition, the ID 1118 in the updated Q&A effectively widens the remit of an LQIAIF's lending activity from granting and participating in bilateral loans only to also permitting investment in debt securities (and loan syndications).
Extending the passport to non-EU AIFMs and AIFs
On 11 October 2016, Steven Maijoor, ESMA Chair told the Economic and Monetary Affairs Committee ("ECON") of the European Parliament that ESMA in its advice on extending the AIFMD passport in the short term is focusing on its assessment of Bermuda and the Cayman Islands in order to decide on whether to extend the passport to them; will assess an additional group of non-EU countries when it has more clarity on the next steps envisaged by co-legislators; and will also focus on putting in place a framework in case the passport is extended to one or more non-EU countries.
Guidelines on sound remuneration policies
On 14 October 2016 ESMA published guidelines on sound remuneration policies on sound remuneration policies under AIFMD. They amend the current guidelines on sound remuneration policies under AIFMD (ESMA/2013/232). The amendment relates to the section of these guidelines dealing with the application of the remuneration rules in a group context and is intended to acknowledge the potential outreach of the Capital Requirements Directive rules in a banking group. The guidelines apply from 1 January 2017.
1.3 CP86: Fund Management Company Effectiveness Outcome
The Central Bank has been examining fund management company effectiveness (CP86) since early 2014. On 19 December 2016 it published guidance for fund management companies on managerial functions, operational issues and procedural matters. It has also published new rules for fund management companies on an effective supervision requirement and on the retrievability of records. Those rules are summarised in the Feedback Statement to CP86 – third consultation which the Central Bank has also published.
The rules and guidance set out how designated persons should carry out their role. They describe how fund management companies should manage their records and communicate with the Central Bank. They also set out the extent to which the boards and management of Irish authorised and supervised fund management companies' need to have local presence.
For more information see our client update, CP86 Concludes as CBI Resets Governance Framework for Irish Fund Boards
1.4 Companies' Beneficial Ownership Structure - New Obligations
With effect from 15 November 2016 most Irish companies are obliged to obtain and hold information about their beneficial owners. This is because of the early transposition of certain provisions of the Fourth Money Laundering Directive (EU) 2015/849 into Irish law by the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016 . These apply to every company or other legal entity incorporated in Ireland (a "Relevant Entity"). They do not apply to a company listed on a regulated market and subject to disclosure requirements consistent with EU law or subject to equivalent international standards that ensure adequate transparency of ownership information. A "beneficial owner" is defined as the natural person who ultimately owns or controls in excess of 25% of the Relevant Entity.
Investment companies and Irish collective asset-management vehicles or ICAVs, Irish UCITS management companies and Irish AIFMs are all Relevant Entities. However, investment companies and ICAVs established as umbrella funds need only enter beneficial owners in their register where they own/control (directly or indirectly) in excess of 25% of shares across the umbrella as a whole (not per sub-fund).
For more information see our client update, The Beneficial Ownership Regulations 2016: Implications and Recommended Actions for Funds
1.5 EMIR Update
The European Market Infrastructure Regulation (Regulation on over the counter ("OTC") derivative transactions, central counterparties ("CCPs") and trade repositories (Regulation 648/2012)) ("EMIR") is relevant to all Irish funds trading in financial derivative instruments ("FDI") whether on an exchange or otherwise. UCITS and AIFs are financial counterparties for EMIR purposes, subject to the full scope of EMIR obligations.
There have been a number of developments over the quarter (with particular focus within industry on the new margining requirements for uncleared OTC derivatives contracts outlined below):
On 19 October 2016, the European Commission adopted a delegated regulation amending Delegated Regulation 148/2013 on EMIR as regards regulatory technical standards ("RTS") on the minimum details of the data to be reported to trade repositories. It clarifies data fields, their description or both; adapts existing fields to the reporting logic prescribed in existing Q&As or reflect specific ways of populating them and introduces new fields and values to reflect market practice and is now subject to Council and European Parliament approval.
On 27 October 2016, the European Commission published an implementing regulation amending Implementing Regulation (EU) No 1247/2012 laying down implementing technical standards ("ITS") on the format and frequency of trade reports under EMIR. It will enter into force 20 days following its publication in the Official Journal of the EU and will apply from the first day of the ninth month its date of entry into force (except for Article 1(5), which will apply from the date of entry into force).
On 14 November 2016 ESMA published its final report on the amended application of the clearing obligation for financial counterparties with a limited activity volume under EMIR. It proposes amending the three EMIR delegated regulations on the clearing obligation to prolong, by two years, the phase-in period for financial counterparties with a limited volume of derivatives activity. It also proposes to align the three compliance dates for category 3 firms in the delegated regulations regarding interest rate swaps and credit default swaps. The new proposed compliance date is 21 June 2019. The draft RTS in the report are with the European Commission for endorsement.
On 23 November 2016 the European Commission published an EMIR review report which concludes that that no fundamental change should be made to the EMIR core requirements. It states that in some areas the EMIR requirements could be adjusted without compromising on its overall objectives, to increase the efficiencies and reduce disproportionate burdens. Industry concerns around backfilling trade reports for historic transactions were noted.
On 28 November 2016 the European Commission published a legislative proposal for a Regulation that it has adopted on the resolution and recovery of CCPs.
On 15 December 2016 Commission Delegated Regulation EU/2016/2251 supplementing EMIR with RTS on risk mitigation techniques for uncleared OTC derivative contracts under Article 11(15) of EMIR was published in the Official Journal of the EU. It comes into force on 4 January 2017 and introduces margin and collateral requirements where affected entities engage in OTC derivative contracts. These include requirements to exchange initial and variation margins and to ensure collateral meets certain qualitative criteria. It also introduces haircut rules to apply in respect of the valuation of received collateral and detailed elements to be covered in each entity's risk management processes. Variation margining will be required on both sides of a relevant transaction from 1 March 2017.
On 15 December 2016 ESMA published a consultation paper on draft RTS on data to be made publicly available by trade repositories.
On 16 December 2016, ten European Commission Implementing Decisions confirming the equivalence of the regulatory regimes of certain third countries for CCPs and trading venues under EMIR were published in the Official Journal of the EU and come into force on 5 January 2017. The regulatory framework for non-EU CCPs in the following jurisdictions meets the EU's regulatory standards: India; New Zealand; Brazil; Dubai International Financial Centre; United Arab Emirates; and Japan. Also the rules governing certain financial markets in the following jurisdictions can be deemed equivalent to those in the EU: Singapore; Japan; Australia; and Canada.
Also in December 2016 the European Commission further extended the transitional relief for pension scheme arrangements from central clearing for their OTC derivative transactions until 16 August 2018.
1.6 Companies (Accounting) Bill 2016
This Bill gives further effect to the Accounting Directive 2013/34/EU. A key change is that many Irish unlimited companies will be required to publicly file their financial statements in the Companies Registration Office ("CRO") as it broadens the definition of "designated unlimited company" in the Companies Act 2014 (the "Act"). Consequently, non-filing unlimited company structures which are currently exempt from filing their financial statements with the CRO will be obliged to file their financial statements with their annual returns thereby making them publicly accessible.
The Bill also amends the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 and the Act to provide that both UCITS and AIF investment companies will be obliged to file financial statements and directors' reports with the CRO (meaning financial reports will be a public record), noting they have to date been exempt from filing any such financial reports.
Further the Bill clarifies that accounts of UCITS investment companies should be audited in accordance with the Statutory Audit Directive 2014/56/EU and extends section 336 of the Act (statutory auditors' report) to both UCITS and AIF investment companies.
ICAVs are not in scope of the Bill and do not have to file their accounts with the CRO. Although the Bill is in in draft form we do not expect any change to the foregoing and the Bill is currently expected to become law in Q1 of 2017.
The Bill does not specify the effective date for filing financial statements for designated unlimited companies. Directive 2013/34/EU does state that the new rules must apply for financial years commencing on or after 1 January 2016, however, this could be extended to 1 January 2017 given the delay in transposing the Directive.
For more information see our client update, Major Changes to Filing Obligations for Unlimited Companies
1.7 Chinese RQFII Licences
On 21 December 2016, the People's Bank of China ("PBoC") announced that Ireland had been granted a RMB 50 billion Renminbi Qualified Foreign Institutional Investor ("RQFII") quota. Ireland is only the sixth European country to be granted an RQFII quota after the UK, France, Germany, Switzerland and, most recently, Luxembourg.
The RQFII regime was introduced in 2011 to further open up mainland China's securities market to foreign investment. Under RQFII, foreign entities can invest offshore RMB in domestic securities in mainland China provided certain eligibility requirements are met. To date, Irish fund structures could only access the quota via a licence held by an asset manager in an RQFII eligible jurisdiction. This announcement means that Irish fund structures will now be able to gain direct access to the RQFII regime through an Irish RQFII quota.
For more information see our client update, Irish Fund Managers now eligible for Chinese RQFII Licence
1.8 Investment via Shenzhen Connect
The Central Bank can now accept applications from Irish domiciled UCITS and AIFs to invest through the Shenzhen-Hong Kong Stock Connect ("Shenzhen Connect") programme, which launched on 5 December 2016. This is a joint initiative between the Stock Exchange of Hong Kong ("SEHK") and the Shenzhen Stock Exchange ("SZSE") and their respective clearing entities, and enables international investors to purchase SZSE listing shares. The market infrastructure arrangements under Shenzhen Connect replicate those in the original Shanghai-Hong Kong Stock Connect ("Shanghai Connect") model launched in 2014.
The Central Bank will accept applications allowing Irish UCITS and AIFs to invest via Shenzhen Connect on the same basis as provided for under Shanghai Connect. The applicable conditions are in the Central Bank's UCITS Q&A at ID 1015 and AIFMD Q&A at ID 1094 and the Q&As will be updated in early 2017 to reflect the addition of Shenzhen Connect.
1.9 Money Market Funds
On 8 December 2016 the Council of the EU published a note from the Council's General Secretariat to its Permanent Representatives Committee ("COREPER") on the approval of the final compromise text of the proposed Regulation on Money Market Funds ("MMF Regulation") It states that a provisional agreement was reached between the Council and the European Parliament and that COREPER is invited to approve that text which was published on 2 December 2016. It is expected that the MMF Regulation will be approved by the European Parliament at first reading.
The draft regulation lays down rules for MMFs, in particular, the composition of their portfolios and the valuation of their assets, to ensure the stability of their structure and to guarantee that they invest in well diversified assets of a good credit quality. It also introduces common standards to increase the liquidity of MMFs, to ensure that they can face sudden redemption requests.
1.10 Capital Requirements Regulation
The Capital Requirements Regulation 575/2013/EU ("CRR") applies to credit institutions and investment firms and contains provisions relating to, among other things, own funds and capital requirements, large exposures, securitisations, liquidity, leverage and supervisory reporting.
On 23 November 2016 the European Commission published legislative proposals for a Regulation amending CRR and for a Directive amending the CRD IV Directive 2013/36/EU. The amendments proposed address the introduction of binding leverage ratio and net stable funding ratio requirements; the implementation of Basel Committee on Banking Supervision standards relating to equity investment in funds counterparty credit risk, exposures to CCPs, market risk and large exposures and measures to improve lending to small and medium-sized enterprises (and to infrastructure) and the CRD IV remuneration requirements.
On 21 December 2016, European Commission Implementing Decision (EU) 2016/2358 on the lists of third countries considered equivalent for the purposes of the treatment of exposures under the CRR was published in the Official Journal of the EU and comes into force on 9 January 2017. Turkey, New Zealand, Faroe Island and Greenland are added to the list.
1.11 EU General Data Protection Regulation
Regulation (EU) 2016/679 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (the "General Data Protection Regulation" or "GDPR") which was adopted in May 2016 comes into force on 25 May 2018.
The GDPR introduces substantial changes to EU data protection law coupled with severe financial penalties for non-compliance (fines of up to 4% of global turnover (or €20 million) whichever is higher)) will be imposed for certain breaches. It gives individuals greater rights regarding how their personal information is used and stored and tightens the provisions on consent (for example, the validity of consent will expire once the purpose for which it was sought ceases). Therefore, it is important for affected firms to start taking steps to prepare for its implementation.
1.12 MiFID II/MiFIR Update
The Markets in Financial Instruments Directive (2014/65/EU) ("MiFID II") and the Markets in Financial Instruments Regulation (Regulation 600/2014) ("MiFIR") repeal the Markets in Financial Instruments Directive (2004/39/EC) ("MiFID"). They apply from 3 January 2018.
On 5 October 2016 ESMA published a number of consultation papers including one on product governance guidelines under MiFID II Directive which closes on 5 January 2017. The draft guidelines in Annex 3 of the consultation paper mainly address the target market assessment, as this was identified as the most important for ensuring a consistent application of Articles 16(3) and 24(2) of MiFID II and Articles 9 and 10 of the Delegated Directive supplementing MiFID II.
On 10 October 2016, ESMA published its final guidelines on transaction reporting, order record keeping and clock synchronisation and a new set of Q&As on investor protection topics under the MiFID II and MiFIR on best execution; recording telephone conversations and electronic communications; record keeping; investment advice on an independent basis; underwriting and placement of a financial instrument; and inducements. On 27 October 2016, ESMA published a number of trade reporting instructions for entities involved in trade reporting.
On 18 November 2016 ESMA published other sets of Q&As on transparency topics and on market structures topics on data disaggregation and the tick size regime.
On 1 December 2016 the European Commission adopted delegated regulations supplementing MiFID II with regard to RTS on the criteria for establishing when an activity is considered to be ancillary to a firm's main business and for the application of position limits to commodity derivatives. The Council of the EU and the European Parliament are currently considering the delegated regulations.
On 11 December 2016 three delegated regulations under MiFIR entered into force. The two RTS relating to the information for registration of third-country firms and the format of information to be provided to clients; and criteria for determining whether derivatives subject to the clearing obligation should be subject to the trading obligation apply from 3 January 2018 and the RTS on access in respect of benchmarks applies from 3 January 2020.
In December 2016 ESMA updated its MiFID II and MiFIR Q&As on commodity derivatives topics, investor protection topics, market structures and transparency and published new Q&As relating to data reporting under MiFID II and MiFIR.
1.13 PRIIPs KID Regulation
The Regulation on key information documents ("KIDs") for packaged retail and insurance-based investment products ("PRIIPs") ("PRIIPs KID Regulation") will introduce a new pan-European pre-contractual product disclosure document for PRIIPS in EU Member States.
On 1 December 2016 the European Parliament voted to delay the PRIIPs KID Regulation. The main reason is to give additional time for those concerned to comply with the new requirements. On 24 December 2016 Regulation EU/2016/2340 postponing its application date entered into force. The PRIIPs Regulation now applies from 1 January 2018 instead of 31 December 2016.
On 22 December 2016, the Joint Committee of the European Supervisory Authorities ("ESAs") (that is, the EBA, ESMA and EIOPA) wrote to the European Commission following its request for an opinion on the proposed amendments to the draft regulatory technical standards ("RTS") it submitted to the Commission under the PRIIPs Regulation. The letter states that the ESAs presented an opinion to the three boards covering all of the areas addressed by the Commission's letter and the amendments in the RTS. The opinion was adopted by the EBA and ESMA boards but not the EIOPA board. The different views related to the treatment of multi-option products; the criteria to determine whether a comprehension alert should be included in a KID; and the credit risk mitigation factors for insurers provisions in the RTS. Consequently, the ESAs cannot give an agreed opinion on the draft RTS.
1.14 European Venture Capital Funds and Social Entrepreneurship Funds
The European Venture Capital Funds Regulation 345/2013/EU ("EuVECA Regulation") sets out a marketing passport to allow fund managers to market qualifying venture capital funds to EU investors using the EuVECA designation. The European Social Entrepreneurship Funds Regulation 346/2013/EU ("EuSEF Regulation") sets out a marketing passport to allow fund managers to market qualifying social entrepreneurship funds to EU investors using the EuSEF designation.
On 29 November 2016 the Presidency of the Council of the EU published another compromise proposal relating to the proposed Regulation amending the EuVECA and EuSEF Regulations which was originally published in July 2016.
On 16 December 2016, the Council of the EU announced that it has agreed its negotiating stance on the proposed amending Regulation and that COREPER has asked the incoming Maltese Council presidency to start negotiations with the European Parliament, with a view to reaching an agreement at first reading.
The SFTR (or Regulation on securities financing transactions ("SFTs") EU/2015/2365) covers all forms of lending, borrowing and re-use of securities in the EU and in all the branches of counterparties to SFTs no matter where they are located. It requires market participants to report details of SFTs to an approved EU trade repository. It came into force on 12 January 2016 with the exception of certain transitional provisions in Article 33.
On 4 October 2016 ESMA published a report on SFTs and leverage in the EU under Article 29(3) of the SFT Regulation which recommends that:
- The FSB qualitative standards on the methodology used to calculate haircuts in non-centrally cleared SFTs should be introduced to improve the transparency and stability of haircuts and the resilience of financial institutions.
- The procyclicality of collateral haircuts used by CCPs should be addressed in the review of EMIR.
- Numerical haircut floors for non-centrally cleared transactions can only be introduced following a thorough analysis using granular SFT data and following careful assessment of scope.
- Other macro-prudential instruments, including countercyclical ones, should be agreed at international level first, and can only be introduced after a careful assessment that the existing measures are not sufficient to limit the leverage in the system.
On 4 November 2016, ESMA updated its webpage on its September 2016 consultation paper on draft RTS and ITS implementing SFTR correcting errors relating to the deadline for reporting of the collateral component of a SFT and the timeline for reporting of the details of the collateral component of an SFT.
On 12 December 2016 Irish Funds, through the Industry Financial Reporting Working Group, produced a Q&A in relation to Article 13 disclosures. The Q&A is a follow up to the general update in the Financial Reporting Brief of August 2016 and provides further guidance on a number of areas.
SFTR introduced new transparency requirements for prospectuses and financial statements for investment funds using securities financing transactions and total return swaps.
UCITS and AIFs must ensure prospectuses clearly disclose the intention to use these techniques (including maximum and expected exposure levels) and describe the risks they entail – SFTR is detailed and prescriptive in relation to the information to be disclosed. While the prospectus disclosure requirements applies immediately for new umbrellas/standalone funds from 12 January 2016, umbrella/standalone funds constituted before 12 January 2016 have up to 13 July 2017 to comply.
In the context of UCITS (and Retail Investor AIFs) where the Central Bank must review and clear prospectus changes in advance, the Central Bank has indicated that it the responsibility of the funds themselves to ensure draft documentation is submitted sufficiently in advance so that the updates can be noted by the deadline. Given the likelihood of a high volume of such submissions, Maples recommends that affected UCITS (and Retail Investor AIFs) proceed with the required updates in Q1 2017. Affected QIAIFs can attend to updates any time up until 13 July 2017.
1.16 Benchmark Regulation
The Regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds 2016/1011/EU ("Benchmark Regulation") entered into force on 30 June 2016 and applies from 1 January 2018, with the exception of certain provisions (in Article 59) that apply from 30 June 2016 and one provision that applied from 3 July 2016.
On 7 November 2016, ESMA published a list of five EU national competent authorities that have been designated as being the authorities responsible for carrying out relevant duties under the Regulation – Ireland was not included.
On 10 November 2016 ESMA published its final report setting out technical advice under the Benchmarks Regulation which addresses: how benchmarks' reference values can be calculated by using data reporting structures under existing EU rules, such as MiFID II and EMIR; criteria for deciding whether third country benchmarks can be endorsed for use in the EU; and what constitutes making a benchmark figure available to the public.
1.17 CSDR: Regulating Central Securities Depositories
The Regulation on improving securities settlement and regulating CSDs (Regulation 909/2014/EU) ("CSDR") is in effect since September 2014. However, Article 3(1) will apply from 1 January 2023 to transferable securities issued after that date, and from 1 January 2025 to all transferable securities. Certain other implementing measures will apply from the date that they enter into force.
On 11 November 2016 the European Commission adopted a package of six legislative acts to implement specific provisions of CSDR: a Commission Delegated Act, three RTS and two ITS. These set out specific requirements to ensure that CSDs are prudentially sound, have high-quality risk management and corporate governance standards and meet appropriate capital requirements. They also clarify the framework under which supervisors should co-operate and exchange information and set penalties for settlement failures as well as measures to ensure the transparency of internalised settlements that take place outside CSDs.
1.18 Investment Funds Statistics: Q3 2016
The main points to note in the Central Bank's November 2016 update for Q3 2016 are:
(a) The net asset value of investment funds resident in Ireland increased by 5.6% (€81 billion) over the third quarter of 2016, reaching €1,538 billion. The total value of assets held by IFs increased by €83 billion to €1,867 billion.
(b) The third quarter saw strong investor inflows to investment funds, amounting to €42 billion, continuing the general trend of recent quarters. Portfolio revaluations were strongly positive, at €39 billion, reflected in both debt and equity holdings.
(c) Exchange traded funds ("ETFs") domiciled in Ireland had total assets of €282 billion at end Q3 2016. ETFs have grown by 61% in the last two years up from €176 billion in Q3 2014.
1.19 Anti-Money Laundering Update
EU Member States must transpose the Fourth Money Laundering Directive ((EU) 2015/849) ("MLD4") into national law by 26 June 2017 and the revised Wire Transfer Regulation ((EU) 2015/847) ("WTR") applies from the same date.
On 16 November 2016, the Joint Committee of the ESAs published its final guidelines on risk based supervision under MLD4. Addressed to NCAs, they define the characteristics of a risk based approach to anti-money laundering ("AML") and counter-terrorist financing ("CTF") supervision. They state what NCAs should do to ensure that their allocation of supervisory resources is proportionate to the level of money laundering and terrorist financing risk associated with credit and financial institutions in their sector and to assess those risks and adjust the focus, intensity and frequency of supervisory actions in line with the risk based approach. They apply a year from the date they are issued.
On 28 November 2016 the European Commission adopted a Delegated Regulation amending its list of high risk third countries with strategic deficiencies under MLD4. It will enter into force the day after publication the Official Journal of the EU.
On 6 December 2016 Central Bank issued the first in series of AML bulletins focussing on the use of relevant third parties as part of AML/CTF frameworks in relation to outsourcing of functions to third parties. The Central Bank expects that there is an agreement in place between the firm and the third party; firms only rely on third parties to perform customer due diligence; and firms should regularly test that documents can be retrieved quickly and that the quality of the documents obtained is sufficient.
On 12 December 2016 Irish Funds, through its Anti-Money Laundering Working Group has produced an industry Q&A paper on the application of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (as amended) in relation to keeping customer due diligence up to date.
On 16 December 2016 Council Directive EU/2016/2258 amending Directive 2011/16/EU as regards access to AML information by tax authorities was published in the Official Journal. It will ensure that EU tax authorities have access to data collected under current AML rules. This includes information such as customer due diligence records and information held in national beneficial ownership registries. Member states will have to implement this Directive by 31 December 2017 and apply those measures from 1 January 2018.
On 20 December 2016 the Council of the EU published its fifth Presidency compromise proposal on the proposed MLD5 or Fifth Money Laundering Directive and announced that it has agreed its negotiating stance with the Parliament. MLD5 amends MLD4 as part of the Commission's action plan to strengthen the fight against terrorist financing.
On 22 December 2016 the ESAs wrote to the European Commission explaining that draft RTS on measures that credit and financial institutions must take to manage the risk of money laundering and terrorist financing where they have branches/subsidiaries in third countries that prohibit the implementation of AML and CTF measures consistent with MLD4 will be delayed until December 2017 because there are no such third countries meeting the relevant description in the Directive. Proposed amendments to MLD4 will extend the scope to third countries that have not been captured.
On 22 December 2016 the European Commission published proposals for a countering money laundering directive which acknowledges that all Member States criminalise money laundering but there are some differences that require change.
See also 1.4 above on Companies' Beneficial Ownership Structure - New Obligations.
2.1 Tax Treaty Entitlement for Investment Funds: OECD Consultation
There have been a number of developments recently regarding tax treaty entitlement for investment funds. On 5 December 2015, the OECD produced a set of measures to empower countries to tackle tax avoidance (the "BEPS package"). This included developing a new legal instrument (the "Multilateral Instrument" or "MLI") that facilitates the swift and consistent implementation of the tax treaty related BEPS measures.
On 24 November 2016 the OECD produced the final text of the MLI which was approved by 100 countries (but yet to be signed and ratified). Where the MLI is ratified by two parties to a bilateral treaty that treaty will be automatically updated with the provisions of the MLI. Up to 2,000 treaties could be updated in this way without the need for bilateral negotiations. In particular, the MLI includes a principal purpose test ("PPT") which would deny treaty relief if a "principal purpose" for establishing in a treaty country is to obtain the benefits of the treaty.
On 6 January 2017 the OECD published a discussion draft on the PPT test as to how it would apply to investment funds. The consultation closes on 3 February 2017. The OECD recognised that the treatment of funds (and specifically alternative funds) and their SPVs is complex. The new discussion draft sets out three case studies / fact patterns as to when the PPT test may be said to be satisfied: (i) a regional investment platform example; (ii) a securitisation company example; and (iii) an immovable property non-CIV fund example. These will be helpful in interpreting and consistently applying the PPT test. The OECD has invited submissions on the examples and Maples and Calder will be involved in submissions with industry groups.
2.2 Irish Real Estate Funds
Significant changes to the taxation of Irish investment funds come into effect on 1 January 2017. The new regime applies to regulated funds that invest, or may invest, in Irish real estate and related assets. These are termed Irish Real Estate Funds (or IREFs). It introduces a potential 20% withholding tax on certain events, including the sale of units, distributions and redemptions from such funds, and additional reporting and compliance requirements. Funds carrying on a business of renting, developing or trading in Irish real estate are the primary focus of the legislation and should take advice on the impact of the changes.
The changes do not affect non-Irish funds, funds that are UCITS or funds that have an international investment focus, including funds holding non-Irish real estate. As a result the vast majority of Irish regulated funds continue to enjoy the traditional beneficial Irish tax regime, being broadly, tax exempt status for the fund and no Irish tax for non-Irish resident investors, subject to certain conditions being satisfied.
Certain investors in an IREF, including pension funds, regulated investment funds or life assurance companies, whether in Ireland or their EU/EEA equivalents are subject to specific treatment, including an exemption from withholding tax and an ability to reclaim any tax withheld. Such exemptions are subject to a number of conditions and it will be important to review the investor's relationship with the fund in order to assess the availability of these reliefs.
Where a fund is classified as an IREF, there are a number of provisions which should encourage and incentivise a transition to a non-regulated corporate structure, including a REIT (Real Estate Investment Trust) and we anticipate that a number of funds will consider restructuring during 2017.
For more information see our client update, Irish Real Estate Funds – Tax Changes
3.1 Market Abuse Regulation
The Market Abuse Regulation (Regulation 596/2014) ("MAR") and the Directive on criminal sanctions for insider dealing and market manipulation (2014/57/EU) ("CSMAD") (together, MAD II) apply from 3 July 2016. The European Union (Market Abuse) Regulations 2016 transposed CSMAD (and elements of MAR) into Irish law.
On 20 October 2016 ESMA has published final versions of guidelines under MAR relating to market soundings and delayed disclosure of inside information in the official languages of the EU. On 10 November 2016 ESMA published a revised version of both following a linguistic issue in a translation. They both apply from 10 January 2017.
On 26 October 2016 ESMA published another version of its Q&A under MAR. New topics covered include: the PDMR (persons discharging managerial responsibilities) threshold calculations in non-Euro currencies and the timing of the 'closed period' for managers' transactions around the announcement of financial results; and what constitutes an investment recommendation. On 27 October 2016 ESMA published a number of trade reporting instructions for entities involved in trade reporting under MiFIR.
On 20 December 2016 ESMA published a further version of its MAR Q&A to include three new Q&As on managers' transactions and four on investment recommendations and information recommending or suggesting an investment strategy.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.


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Terms, Conditions & Site Policies
Website Terms & Conditions
Thank you for shopping with RCH Supply Co. Please take a few minutes to review our Terms and Conditions. RCH Supply Co. reserves the right to update or modify these Terms and Conditions at any time without prior notice.
You acknowledge, by your use of this website, that your use of this website and the products and services supplied by RCH Supply Co. is at your sole risk. You acknowledge that RCH Supply Co., its officers, directors, employees, agents, licensors and suppliers or their heirs and assigns, shall not be held liable for any losses or claims and / or any consequential damage or losses that may incur or be made to incur, due to your use of this website and the products and services supplied by RCH Supply Co.
You agree to indemnify, defend, and hold harmless RCH Supply Co., its officers, directors, employees, agents, licensors and suppliers from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, resulting from any violation of these terms and conditions or any activity related to your account (including negligent or wrongful conduct) by you or any other person accessing the site using your Internet account.
Third-Party Links:
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The entire content included in this site, including but not limited to text, graphics or code is copyrighted as a collective work under the United States and other copyright laws, and is the property of RCH Supply Co. You may display and, subject to any expressly stated restrictions or limitations relating to specific material, download or print portions of the material from the different areas of the site solely for your own non-commercial use, or to place an order with RCH Supply Co. or to purchase RCH Supply Co. products. Any other use, including but not limited to the reproduction, distribution, display or transmission of the content of this site is strictly prohibited, unless authorized by RCH Supply Co. You further agree not to change or delete any proprietary notices from materials downloaded from the site.
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We don't rent, sell or otherwise distribute to others any information about our customers, except that we may provide your personal information to companies engaged to deliver your order. We also reserve the right to disclose without notice to you any information in our possession if we believe we are required to do so by law, to protect or defend our rights or property, or to respond to an emergency. While we endeavour to use reasonable efforts to safeguard the confidentiality of your information, the Internet is not totally secure. Due to the possibility of transmission errors, hacking or other unauthorized third party activities, we cannot guarantee that data related to the Services will remain secure. If we become aware of a security breach involving such data, RCH Supply Co will make all legally required disclosures, consistent with our ability to determine the scope of the breach, our need to restore the integrity of the system and the needs of law enforcement. The Services are not intended for use by, and RCH Supply Co does not intend to collect personal information from, children under 13 years of age. Children under 13 years of age are directed not to use the Services, whether to submit personal information or otherwise. Some of the Services contain links to websites or other content sources, which are not under the control of RCH Supply Co. We are not responsible for the privacy practices of any linked site or content source.
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We accept orders via phone, fax , e-mail, and our e-commerce website. After you place your order, we will send you an e-mail acknowledgement.
You do not need to have a previously existing account with us to place orders on the Internet. However some items are only sold through reseller networks and may not be available to the general public.
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We take orders between 9:00 am and 5:00pm PST. All email or fax orders are attended to within 1 business day. Please contact us if you have not received an "order received" acknowledgement for your order within one business day.
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We charge sales tax for all orders in Washington State. If you are located in the state of Washington and have a resale card or certificate, please e-mail, fax, or mail us a signed copy with your trade account application.
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All merchandise is carefully inspected and packed before shipment. Responsibility for safe delivery is assumed by the carrier. The delivery service and RCH Supply Co. should be notified immediately of any visible damage to the merchandise upon receipt.
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This site and the materials and products on this site are provided "as is" and without warranties of any kind, whether express or implied. To the fullest extent permissible pursuant to applicable law, RCH Supply Co. disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability and fitness for a particular purpose and non-infringement. RCH Supply Co. does not represent or warrant that the functions contained in the site will be uninterrupted or error-free, that the defects will be corrected, or that this site or the server that makes the site available are free of viruses or other harmful components. RCH Supply Co. does not make any warrantees or representations regarding the use of the materials in this site in terms of their correctness, accuracy, adequacy, usefulness, timeliness, reliability or otherwise.
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Most products are handmade and as such slight variations in the product are common. Due to the natural color variations in Stone, our products made of natural stone do vary in colour and no two pieces will be exactly alike. Minimum order quantity (MOQ) requirements may apply on non-inventory & custom developed items.

subset: commoncrawl


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Liberty Mountain ReviewsCarroll Valley, PA US
Contact Info / Directions
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Recent Liberty Mountain Reviews3 Liberty Mountain Review(s), post yours and get a chance to win lift tickets.
Post a Review
|Overall Averages
(3.33) Overall
(3.00) Skiing / Terrain
(2.67) Value / Prices
(3.33) Service
(3.33) Dining / Bars
Well Managed, Offer Little for Experienced Skiers
01/07/2011 by: Christi
Liberty makes good use of their small "mountain" but as a frequent skier looking for a close in destination I found I was bored within an hour. There's one nice very short pitch on a double black that was kinda fun. Other than that, it was just laps. It's probably a fine destination for rider/skiers who are not fit or conditioned. The short runs are like windsprints and good for conditioning. And it's probably a nice family destination, and for beginning and intermediate skiers/riders...just don't plan to spend a whole day there. For what they offer, I thought it was quite expensive. They charge real mountain prices for a hill.
More Ratings:
Good skiing for the east coast!
12/14/2010 by: Anonymous
Ski Liberty has good skiing for the east coast. Although east coast can hardly compare to out west slopes, the lifts run fast enough for out here and this is a good resort for families. There's a good variety of slopes and terrain park although their sister resort, Whitetail has a better terrain park, the trails are generally less icy at Liberty. Only about an hour and a half from DC so this a good option for this area, definitely give it a try!
More Ratings:
Fun Birthday!
01/11/2010 by: Elizabeth
I traveled to Liberty Mountain for my birthday on January 9, 2010 and enjoyed the day with friends. While the parking lot was completely full to the back we didn't experience long lift lines. We enjoyed pit beef sandwiches (more like pulled beef BBQ) that were pretty good, but very, very expensive. The slopes had icy patches, but overall the riding conditions were pretty good for the area and the slopes were crowded, but ride-able. In short, bring your own food and drink, get there early and enjoy a good day of local riding.
More Ratings:


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Internship @ Lakshmi Narayana & Co, Kurnool, Andhra Pradesh: Doctors and Lawyers Never Retire
Name of Organisation, Location, Team Strength
Lakshmi Narayana & Co, Kurnool , 4 members
Application Process
We should meet him personally and he asks us about our academic details and we have to provide contact details to clerk in his office. within 2-3 days we will receive a call from clerk to join internship.
I'ts the best office for locals residing in same city.
Join Lawctopus Law School, the law school you always wanted, online! Check courses.lawctopus.com
Duration of internship and timings
It depends on us i.e., how many days we are interested to do. At least 3-4 weeks is must to learn each and every basic thing.
Timing is from morning 10 AM – 6 PM . If we go early and leave the office lately we will have lot of contacts with people, clients, officers.
So as much as we spend the time in office we learn lot of things and we can have grip over everything dealt in office.
First impression, first day formalities, infrastructure
First day I felt so tense by thinking about what to do,how to do etc.
As I know him before he greeted me and he took me to the court to hear proceedings of one of his clients case.
A office near district and sessions court with three rooms.
Main tasks
Drafting Documents, visiting court and hearing proceedings, assisting sir in providing related documents and verifying documents for any grammatical errors.
Work environment and people
Work environment at Lakshmi Narayana and Co. is quite good we can bring and use our personal laptop in free time in fact the office is enabled with WiFi.
People in office where so friendly and free, especially clerk sir was so jovial and funny.
Best things
Office people, clerk sir, WiFi facility and using of our personal laptop in office in free time, different types of cases and different things to learn, listening to clients problems and learning from them how cautious we have to be.
Bad things
Bad thing is only climate in afternoon the temperature reaches to 45-48 Celsius . It will be damn hot without an air conditioner.
No stipend
Biggest Lessons
Learning everything from base. During my work I learnt that lawyers and doctors never retire unless the world ends.
Our experiences brings out the best from us.
Disclaimer: Internship experiences are opinions shared by individual law students and tend to be personal and subjective in nature. The internship experiences shared on Lawctopus are NOT Lawctopus official views on the internship.


text: Peyton Manning Dethrones Tiger Woods on Top of Sports Power Ranking 5:43 AM PST 1/28/2011 by Georg Szalai FACEBOOK TWITTER EMAIL ME Robert Cianflone/Getty Images Snowboarder Shaun White jumps into the second spot, while LeBron James drops nine ranks. NEW YORK - Tiger Woods has lost his status as the world's "most powerful athlete" on Bloomberg Businessweek's annual "Power 100" ranking to Indianapolis Colts quarterback Peyton Manning, the New York Post reported. Snowboarder Shaun White, who made the biggest jump on the list by rising from the 51st spot a year earlier, has also overtaken Woods as the golfer fell to third place this year. Bloomberg Businessweek said that "sex scandals tend to hurt earnings and unquestionably damaged Woods' performance," according to the Post. "Unless he can regain his game - and the trust of fans and advertisers - his earnings are likely to keep plummeting." Woods has lost a range of sponsors since reports of his extra-marital affairs first surfaced. He still managed to earn $71.3 million last year, ahead of all other athletes and fellow golfer Phil Mickelson who made $53.8 million. Basketball star LeBron James is also among the big losers on the list after enraging fans with his move to Miami. After ranking second last year, he is now no. 11 on the Bloomberg BusinessWeek power list. Meanwhile, Manning is "the most popular quarterback in America's favorite sport," said Bloomberg BusinessWeek. He is "marketable, recognizable, and down-to-earth." The magazine estimated he earned $15 million from endorsements last year with such blue chip sponsors as MasterCard, Reebok, Gatorade and Oreo. FACEBOOK TWITTER EMAIL ME Georg Szalai firstname.lastname@example.com @thr


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Brewers of Pennsylvania to Host 2017 Mid-Atlantic Brewers' Symposium in State College
Pennslyvania Representative Paul Costa, Liquor Control Democratic Chair, to Keynote
The Brewers of Pennsylvania (BOP), the state's official brewers guild, will host the 3rd annual Mid-Atlantic Brewers' Symposium. This important 2-day event features a keynote address from House Liquor Control Committee Democratic Chairman, Paul Costa. The Symposium will take place at the Penn Stater Hotel & Conference Center in State College, PA Sept 7-8, 2017 – one day before the intrastate rivalry football game between Penn State and Pitt. With the science of brewing and business of brewing as the focus, attendees will be exposed to valuable resources and insights.
"Each year, the BOP Mid-Atlantic Symposium has grown with brewers throughout the state receiving valuable education and insight into the business, science, and network of brewing," said Dan LaBert Executive Director of the Brewers of Pennsylvania. "This influential event is geared toward helping Pa. brewers, big and small, build their brand and increase business, while also giving them a unique perspective on Pennsylvania's ever-changing craft beer landscape."
Due to the recent changes in Pennsylvania liquor laws, presenters at the Symposium, co-sponsored by American Keg, Bad Rhino, and Wells Fargo, will review those changes, and educate brewers on the impact they have on Pennsylvania brewing.
THURSDAY – Sept. 7
Letterman's Sports Grill & Gastro Pub from 7 p.m. to 9 p.m.
Welcome Reception + Brewer Prize Drawing: 3 Liquid Integrity InstaRinse Portable Glass Rinser (value $125 per), Amazon Gift Cards & more!
FRIDAY – Sept. 8
Penn Stater Hotel & Conference Center 8 a.m. to 5 p.m.
Symposium begins with breakfast followed by a State of the Union address from Chris Lampe, BOP President, and Co-owner of Weyerbacher Brewing Company. PA.
House Liquor Committee Co-Chairman, Paul Costa (Pa. District 34, serving Allegheny County) will be the keynote speaker during the Symposium Luncheon.
Lunch is followed by 8 seminars.
Seminars Topics:
45-minute seminars from leaders in the craft brewing industry
- Legal Updates
- Producing Hard Cider and Federal/PA Labeling Requirements
- Think Like a CFO (Chief Financial Officer)
- Current and Future Plans for Hops Trials and Research
- Brewing Up Capital
- Funding Brewery Expansion
- Great Beer is Not Enough: How Social Media Can Create Raving Fans and Increase Consumer Demand
- Protect Yourself and Your Brewery
The Cost
- BOP Members: FREE to BOP members. 2 person / representative max. Additional tickets are available at $50/person.
- Non Member Attendee: $99
- Non Member Licensed Breweries: $199
> Get Tickets or RSVP if Member
About the Brewers of Pennsylvania – The Brewers of Pennsylvania is a 501c6 trade association that brings together leaders of Pa.-based breweries in order to promote and protect the brewing industry in the state. The Brewers of Pennsylvania, a strong and influential organization, serves the consuming
public of Pa. by encouraging brand diversity in the market. BOP members employ an estimated 10,000 employees earning $296 million in wages and generating $1.1 billion in direct economic benefits to communities throughout the state. Its signature annual event is the popular Meeting of the Malts.
(Follow Me On: Twitter & Untappd: @dzyngrl | Instagram: @dzyngrl14)


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Glen Rice was one of the coolest players of the 90s. He lead Michigan to a National Championship in 1989 and was promptly drafted by the expansion Miami Heat (in their 2nd year) with the 4th overall pick of the '89 Draft. Rice is one of the most accurate shooters in NBA history and ranks 8th all time in 3-pt Field goals with 1,559. Rice won the '95 three-point shootout at All Star weekend, was a 3x All Star, 1x All-Star MVP in '97, and won a championship with the Lakeshow in 2000. Rice scored a career-high 56 points against the powerhouse Orlando Magic in the '94-'95 season, hitting 20 of 27 shots including 7-8 from beyond the arc (recap below). Rice retired after a short stint with the Clippers in the '03-'04 season. Shout out to Eric from France for the suggestion.
For more old school videos, check out SLAMtv in the Media Section
Got an old school video you want to see in FOTS? Send the link to email@example.com
…. Cristina Fernandez (formerly Cristina Fernandez Rice or GRW (Glen Rice's Wife)) . GAME OVER


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SAN FRANCISCO (MarketWatch) — Apple Inc. said Monday that it sold 9 million units of its new iPhone 5S and 5C models over the weekend, adding that its results for the September quarter will now come in at the high end of its previously issued forecast.
The news gave a boost to shares of Apple
Stuart Jeffrey of Nomura, who has a neutral rating on Apple's shares, noted to clients that the results "clearly suggests to us that Apple executed at the high end of its expectations, which we view as impressive given the extent of changes implemented in iOS 7."
In a statement prior to the open, the company said sales of the iPhone 5S and 5C models hit 9 million in the first three days after the devices went on sale Friday morning. Many analysts had projected sales in a range near 6 million for the launch weekend; Apple sold more than 5 million units of the iPhone 5 during its opening weekend last September.
Apple also said more than 200 million devices are now running on the new iOS 7 operating system that was also released last week.
The company did not specify how many units each version sold; this was the first time Apple launched two new iPhone models at the same time. It did say demand for the 5S has exceeded initial supply, with many online orders scheduled to be shipped "in the coming weeks."
Peter Misek of Jefferies & Co., who had previously written of production issues with the fingerprint scanner used in the new iPhone 5S, said Monday that Apple may have been able to "stockpile more sensors for the launch" than he anticipated.
Bill Choi of Janney Capital wrote in an early note that "indications are that most customers bought the high-end 5s, as early adopters tend to buy the most advanced products. However, we believe that sales of the 5c might be better than expected."
Brian White of Cantor Fitzgerald wrote that the strong opening weekend sales bode well for the 5C — given that supply was constrained on the 5S.
"In our view, the criticism of the iPhone 5C as being too expensive versus expectations and thus demand would be muted were proven wrong with today's strong weekend sales that required strong demand for the iPhone 5C because the iPhone 5S had limited availability," White wrote in a note to clients.
Apple also did not break down sales by geography. This was the first iPhone launch to include China, which analysts believe gave a boost to the launch numbers. The launch weekend also included 10 other markets, including the U.S.
"While it is hard to determine how quickly supply will ramp to meet robust demand, we are very comfortable Apple can meet or exceed our iPhone unit estimates," Brian Marshall of ISI Group wrote in a Monday note to clients.
In a filing with the Securities and Exchange Commission, Apple said it now expects revenue for the fourth fiscal quarter — which ends Saturday, Sept. 28 — to come in near the high end of its previously estimated range of $34 billion to $37 billion. Gross margins for the quarter are now expected to come in near the high end of the estimated range of 36% to 37%.
Ben Reitzes of Barclays noted that Apple has not typically updated its guidance following iPhone launches.
"We do not recall this type of pre-announcement ever happening and it seems that it implies a message from management that the company is back on track," he wrote in an early note on Monday.


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"Row, row, row your boat, gently down the stream..."
"If you sing that song one more time, I swear I will scream. Stop making the boat spin so much. Go left."
"Merrily merrily merrily merrily, life is but a dream."
"Now we're turning right! Do you even know how to use a paddle? Give it to me. Look, now I'm all wet."
"Near, far, wherever you are..."
"Shut up! You never told me there would be rapids. I hate thoooooooose! I want to get out of this boat. My pants are soaked."
"What do you say, Tower of Terror next?"


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1000 Burner Protest: Project Jericho
A unique and distinctive culture emerges from the Burning Man experience. Rooted in the values expressed by the Ten Principles, this culture is manifested around the globe through art, communal effort, and innumerable individual acts of self-expression. To many, it is a way of life.
Post Reply
- DJ Dominus
- Posts: 29
- Joined: Tue Jan 23, 2007 11:50 am
- Location: Madtown, Wiscompton Camp:Midwest Mayhem
I'm protesting the protest. If you want to do something, start your own gig, on your own turf, on your own time, on your own ideals. Until you can do that you're just suckling from the power teet you purport to detest. What's worse is you apparently don't realize this. I admire your attempted ideals, but it's a bit naive to think that you can have less than what is necessary to have what is at an event of this scale. Randomness happens, person(s) dies, now it's sue everyone and their mother time by living relatives. It's already happened. It's the American way. Are you seriously going to walk into a court of laws and be like "Yo my high ideals was/is we gonna be happenin out in the desert judge. Wasn't my fault, but yah I organized it"? Pahhhhleeeeess. Thats why you have an LLC. So the people trying to do good, well possibly trying to do good, don't end up in jail and/or broke. The corporation just gets potentially shredded.
- Posts: 270
- Joined: Sat Jun 23, 2007 10:41 pm
- Location: on top of a mountian in the middle of nowhere
- Posts: 472
- Joined: Tue Oct 14, 2003 10:29 pm
Whomever said that is simply trying to spread FUD around. It's false, it has no basis in reality, and like the assurance of death and taxes, you can rest assured that the man will be burned this year.plowman wrote: From what I've heard, the Man won't even burn this year,just alot of lights and dust. Smoke and mirrors
- Posts: 472
- Joined: Tue Oct 14, 2003 10:29 pm
Post Reply


text: Black Men for Bernie founder Bruce Carter's mission to restore black communities didn't end when Vermont Senator Bernie Sanders lost to Hillary Clinton in the Democratic primary. He opposed Hillary Clinton and the Democratic establishment then because he knew that they didn't represent the minority communities he engaged in politics to fight for.After the leak of internal DNC emails, Carter is convinced that the Democratic Party "rigged" the primary against his candidate and that Hillary Clinton's Democratic Party has no intention of changing the policies that led to the destruction of the communities he's working to improve. Bruce Carter still believes that Hillary Clinton is the poster child for the kind of cronyism, corruption, and evil that the Bernie revolution was built to overthrow. He doesn't believe Hillary Clinton when she labels Donald Trump and his supporters as racists because he knows she falsely labeled her opponents in the primary as sexist "Bernie Bros." Carter's preparing to take the experience, knowledge, and contacts his group built during the primary to campaign against Hillary Clinton and for Donald Trump and other Republicans in battleground states across the country. Well America it's starting to seem like African Americans once used and abused by the Democratic party are starting to slowly walk away from the plantation of the Democratic party. For the last 60 years Democrats have only used African Americans during the voting season, then the party does absolutely nothing for them after they win their choice of office. It seems like African Americans are starting to take Trumps message of "what do you have to lose" very seriously now. Now the thing that would be absolutely hillarious, would be if George Soros funded group Black Lives Matter starts to dwindle and they all get behind Trump. People in Americas black communities are starting to realize the lie about Trump being a racist is false, after Trump spent most of this week talking about the issues that African Americans face that the Democratic party has created for them. You know like mass poverty, joblessness, horrible schools, and the way the Democrats for government entitlements as a form of slavery on African Americans. Maybe after realizing Bernie was a fraud all along for Hillary, maybe this man will create a new group "Black Men For Trump."


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Spruce Planner - A planing and goal setting app for women
Spruce Planner is an planning and goal setting app designed just for on the go women. It's a powerful and collaborative app where you can manage your calendar, to dos, notes, and goals all in one place. Sign up below to be in the know about Spruce Planner's upcoming launch!
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Today is the second installment of my favorite looks from this year's Met Gala, if you missed it check out part 1. My sister is joining me for this one also, her comments are under AJ and mine are under AG.
Fei Fei Sun -Alberta Ferretti
AG: The simpliciy of this dress in gorgeous. It seems to be a more approachable version of the Commes des Garcons aesthetic. I love the architecture of the sleeves and the color.
AJ: Very streamline then you have the sleeves. Which add a slight space theme. The silver clutch adds an extra pop.
Gigi Hadid -Tommy Hilfiger
AG: I find the colors and fabrics of this interesting: the tulle train and satin bodice compliment each other nicely. I also love the fishnet tights (socks) with the ensemble. However, I think the off the shoulder looks strange, like it slid down, I would have preferred the sleeves to be symmetrical.
AJ: I'm a big fan of symmetry so this isn't my kind of dress. Although it fits with the theme. I like the gold blush color even though it is very close to her skin tone.
Jourdan Dunn -H&M
AG: This is a look I would wear so hard. The angles of the pieces of the bodice and skirt look like they were printed in a 3D printer. It's elegant and futuristic at the same time, thus perfect for the Met Gala. I think the suspender strap is odd and unnessecary, without it though this look is superb.
AJ: This is probably my favorite dress the detail fom the nails to the earrings is simply stunning the top is definitly my favorite part. The sleeves add a futuristic look. The pinstripe skirt and bow give it contrast.
Zendaya -Dolce and Gabbana
AG: The orangey coral and yellow give this dress a tropical feel that I adore. The off the shoulder full ball gown style also speaks to me. I know some people dislike the birds but I find them to be unexpected and fun, which is how Rei Kawakubo's designs are. Law Roach, Zendaya's stylist, is my fave stylist and I think he nailed this look. Plus, her hair and makeup team deserve a round of applause for serving looks like this!
AJ: I like this look…except for the parrot. Really a big parrot in the middle of the dress not my aesthetic. (Though the colors are popping) and the makeup artist is slayin', the lip color: poppin'. It's not my favorite of Zendaya's hairstyles but it's okay.
Michael B. Jordan -Ralph Lauren
AG: A double-breasted tartan suit is totally unexpected, yet somehow it works. I wish instead of a white bow tie he would've worn a contrasting color such as a green from the suit, as it currently gets lost in the white shirt. My only other complaint is the tight cut of the pants, they make his proportions look off and his feet abnormally large.
AJ: I don't think I can get past the hair… Really what is he doing these days. But on an aside the shoes are nice and the watch matches really well. (I'm not a big fan of men looks on the red carpet so…)
Lily Aldridge -Ralph Lauren
AG: Honestly, you either love this look or you hate it, and I love it. It's so sleek and daring in its structure, but not overwhelming. When I saw the look I instantly fell in love with the boots which I remembered from Balenciaga's runway show, I love how the pop of red balances the white. But I think that fuschia tulle is just extra and read too costumey.
AJ: As Akilah said you either love it or you hate it. While she loves it I hate it…with a passion. (Yes we are birth sisters… or are we? *me doing an evil laugh*) I don't like the overall dress. I can't stand the boots. And the tulle: just bleah.
Rihanna -Comme des Garcons
AG: Thiiiiisssss dress! I love the origami feel of it, the color scheme, and the shape. It's wearable art, which in my opinion rivals modern impressionists. The makeup and hair compliment so well, I love the smudged eyeshadow and the top knot which brings out the Asian feel. The lace up sandals balance the busyness of the dress well. Everytime I look at this picture I find more to love.
AJ: Honest opinion: it looks like if a butterfy came through the window it would land on her thinking she was a flower. You can take that to mean this look is good or bad. Not my favorite but not terrible.
That's all for now! What did you think of the Met Gala?
Stay fly,
Akilah (and Anaya)


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PRIMARY Print and Photo were recently put in charge of project managing the VINDABA wine exhibition 2012 as well as assisiting with the CAPE WINES exhibition 2012 which were held simultaneously from the 25 - 27 September at the Cape Town International Conference Centre (CTICC).
Although the exhibition only ran a few days, preparations for the exhibition started in May and took five months to complete from start to finish.
The first step involved contacting all the wine farms, explaining the concept behind EcoBoard. From there, all clients were given a spec sheet to what dimensions their logos and images should be.
One of the main problems we encountered was getting correct artwork from the clients. Many of the clients sent through thumbnails of their logos and images taken from their websites which ultimately could not be printed to the size required without pixelating.
Once correct artwork was received from the farms or ad agencies on behalf of the farms, it was the task of PRIMARY to prepare the print and cut files for the individual exhibition stands. From there the print and cut files were sent through to the manufactures of the stands who converted the designs. The lightweight, eco-friendly exhibition stands were delivered on time to the CTICC and the exhibion ran smoothly without problems.
Once the exhibition was over, the clients were able to take their stands with them for future use.
Follow PRIMARY Print and Photo on twitter: @myBlindCat
Find PRIMARY Print and photo on Facebook: www.facebook.com/PrimaryPrint


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This could lead to a heated debate as the implications transcend beyond choosing the best club to include the competitive nature of some of Europe's top leagues (namely the English Premier League, the Spanish la Liga and Italian Serie A). English and Italian fans may disagree but Barcelona's players have clearly staked a claim to the title of the best club in 2009 considering they have won the treble- la Liga, Copa del Rey and Champions League of course.
The Catalan club's ranks include the likes of Lionel Messi, who recently won the Ballon d'Or, Swedish star Zlatan Ibrahimovic, Spain's Xavi and Andres Iniesta as well as France's Thierry Henry not to mention club captain Carles Puyol. All these players would talk into any team at any chosen time given their achievements and form. Barca's players are key components in one of the most entertaining teams in the world not just now but perhaps over the decades given the fact the team plays slick passing, scores from different sources and through various players, and of course has Lio Messi.
As for Real Madrid, the management has spent staggering amounts on restarting a new Galacticos era after the purchase of Cristiano Rolando, Brazilian Kaka, Xabi Alonso and Frenchman Karim Benzema. Los Blancos may lack the discipline and the free-flowing football approach of their bitter rivals Barca but this is due to the fact the new players, most of whom are stars in their own right, will require a necessary period of adjustment to gel with the other squad members. On any given night, former Manchester United star Ronaldo can score an astonishing goal or San Siro icon Kaka can create something magnificent out of what appears to be ordinary. Those two players need little introduction and are by far the club's biggest names, but attention must be paid to some of the other club players such as Xabi Alonso.
Alonso had a great season with Liverpool prior to his summer move to Madrid and since his departure the Reds have stuttered and been quite inconsistent. His move away from Anfield is obviously not the only reason for Liverpool's struggles but even by captain Steve Gerrard's admission Alonso was one of the club's main protagonists and a key component in the charge to second place in the league in 2008-09.
Both Barca and Real are competing for la Liga title and are still in the running for the Champions League trophy. Barca have yet to lose in la Liga while Los Blancos suffered two defeats, including the El Clasico in the Camp Nou. Clubs such as Manchester United, Chelsea and perhaps Italian league leaders Inter may argue against labeling the two Spanish giants as the two best clubs at the moment but Barca properly dealt with Inter head-to-head in the Champions League group stage. Manchester United and Chelsea have been inconsistent and at the moment are not on the same level with the two Spanish sides.
At least for the moment the Catalans appear as the World's best and as long as they remain in contention in la Liga and continue to challenge in Europe then there is little to be said or written about Barca's status. As for Los Galacticos, they are beginning to work better together and once they gel the players will form a lethal threat to any team in Europe and the world. One must remember the club missed Ronaldo and Kaka has yet to hit top form.
Are Barca & Real the Best Now?(polls)
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In north-central North Carolina, Winston-Salem is home to several popular attractions and sites. Wake Forest University, the Lawrence Joel Coliseum and the North Carolina School of the arts are all located in the area and attract many visitors to the city every year. A stay in Winston-Salem is possible on a tight budget because there are several budget-friendly, quality lodging options in the city.
Days Inn
Located close to Hanes Mall in Winston-Salem is the Days Inn, a hotel with basic amenities for travelers to the area. Guests at the Days Inn can enjoy a free Daybreak Breakfast every morning, a free USA Today every weekday and complimentary wireless Internet throughout the hotel. Rooms include a coffeemaker and cable television. Laundry services are located on-site as are fax and copy services. The Days Inn also has an outdoor pool and while there are no restaurants located on site, several restaurants are located within a few minutes of the hotel. Days Inn 3330 Silas Creek Parkway Winston-Salem, NC 27103 (336) 760-4770 daysinn.com
Microtel Inn
The Microtel Inn on the southwest side of Winston-Salem offers affordable rates and quality accommodations. Rooms at the Microtel Inn have cable television with HBO, a microwave, a refrigerator, a work desk and laundry on site. Free high-speed Internet is available throughout the hotel. A complimentary continental breakfast is provided every morning and an outdoor pool with a patio area is available for use in season. A newspaper is provided for guests every weekday. Microtel Inn 100 Capital Lodging Court Winston-Salem, NC 27103 (336) 659-1994 winstonsaleminn.com
Motel 6
North of Winston-Salem and just off the John Gold Memorial Expressway, Motel 6 is another affordable option. Wireless Internet service is available for a small price in most rooms. Guests can take advantage of the outdoor pool and easy access of exterior entrances to each hotel room. A coin laundry facility is provided on-site. Complimentary coffee is available every morning. Every room includes free local calls and expanded cable television. With several local attractions and restaurants just minutes from this Motel 6, there are many dining and entertainment options for hotel guests. Motel 6 3810 Patterson Ave. Winston-Salem, NC 27105 (336) 661-1588 motel6.com
Leaf Group is a USA TODAY content partner providing general travel information. Its content is produced independently of USA TODAY.
Photo Credits
- hotel image by Antoni Traver from Fotolia.com
- Attribution: Ruger & Stoner; License: public domain
- Attribution: David Bjorgen; License: GNU Free Documentation License, Version 1.2
- Attribution: No machine-readable author provided. MPD01605~commonswiki assumed (based on copyright claims).; License: Creative Commons Attribution 2.5 Generic license
- Attribution: tweber1; License: Creative Commons Attribution-Share Alike 2.0 Generic license
- Attribution: Zainub Razvi; License: Creative Commons Attribution-Share Alike 2.5 Generic, 2.0 Generic and 1.0 Generic license


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It's a New Day in Public Health.
The Florida Department of Health works to protect, promote & improve the health of all people in Florida through integrated state, county & community efforts.
Training and Exercise: Plan
Contact: Florida Health
- 850-245-4444
- firstname.lastname@example.com
Mailing Address
Florida Health
4052 Bald Cypress Way
Tallahassee, FL 32399
Readiness: Training Identification and Preparedness Planning (RTIPP)
The purpose of RTIPP is to teach participants how to create effective training plans for their agencies and jurisdictions using an approach that includes the whole community.
Training and Exercise Planning Workshop (TEPW)
Multi-year Training and Exercise planning process
The Florida Department of Health's MYTEP represents FDOH's preparedness related Bureaus, County Health Departments and Health Care Coalitions' training and exercise goals and is updated annually. The FDOH's MYTEP provides a framework for training and exercise priorities that aligns with Florida Division of Emergency Management's MYTEP.
Multi-Year Training and Exercise Plan (MYTEP)
*Note: This page contains materials in the Portable Document Format (PDF). The free Adobe Reader may be required to view these files.


text: Oscar Dog Showdown: Who's Cutest? 4:18 PM PST 12/15/2011 by THR staff FACEBOOK TWITTER EMAIL ME YOUTUBE These four-legged thespians stole the show in some of the season's most memorable films. This article appeared in the Dec. 23 issue of The Hollywood Reporter magazine. A round of a-paws, please! These four-legged thespians may be ineligible for an Academy Award, but their performances in the Oscar contenders of the season are stealing the show. The season's awards contenders feature numerous animal stars, from the horses of War Horse to the feline star of Puss in Boots. But these four dogs have gone above and beyond with their on-screen performances this year. PHOTOS: Oscar Dog Showdown: Who's Cutest? Uggie, 9 | The Artist His barks might all be silent, but the energetic Jack Russell, seen here playing with a toy Oscar, is one of the big stars of Michel Hazanavicius' tribute to the days before talkies. A seasoned performer -- his specialty is riding a skateboard -- Uggie also appeared this year in Water for Elephants. Says trainer Omar von Muller, who rescued him when he was headed for the pound: "He was a very hyper puppy, but he's now one of the best-trained dogs in the industry. Just look at the scene where he rescues Jean Dujardin from a burning building without missing a cue." Cosmo, 9 | Beginners This all-white long-hair Jack Russell, who previously appeared in Hotel for Dogs and Paul Blart: Mall Cop, is trained by Mathilde de Cagney, who knows a star when she sees one: She also trained the late Moose, who played the long-running role of Eddie on Frasier. "The hard thing in training a dog for a movie isA round of a-paws, please! These four-legged thespians may be ineligible for an Academy Award, but their performances in the Oscar contenders of the season are stealing the show. making his behavior look natural," says de Cagney. But that proved no problem for Cosmo, who not only tags along loyally beside Ewan McGregor but also has dialogue of his own thanks to director Mike Mills' clever subtitles. STORY: Golden Globe Awards Nominations Complete List Blackie, 3, Hugo He was one of three Dobermans in Hugo that portrayed the fearsome Maximilian, who patrolled the Parisian railway station alongside Sacha Baron Cohen's Inspector. Because Martin Scorsese shot in 3D, often panning 360 degrees, de Cagney, also his trainer, was sometimes costumed as a character in scenes so she could work with the dogs without destroying the illusion. Hummer, 4, Young Adult A compact Pomeranian, he is, by showbiz standards, a non-pro. Director Jason Reitman discovered the purse-sized pooch while Hummer was out on a walk on the streets of New York and convinced his owner to let him make his film debut opposite Charlize Theron. View more photos from THR's photoshoot with the top dogs of the awards season here. FACEBOOK TWITTER EMAIL ME YOUTUBE THR staff firstname.lastname@example.com @thr


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Uh-oh. In a heated bidding war last year, ABC ponied up big to keep the Country Music Association Awards with a new 10-year deal. In the first year of that deal, the 46th Annual CMA Awards last night drew a 3.8/10 in adults 18-49 and 13.6 million viewers, down 21% and 17%, respectively, from last year to mark the awards show's lowest-rated telecast ever in both 18-49 and total viewers. The CMAs still logged a nightly victory for ABC in both categories.
Like last year, the CMAs faced Fox's The X Factor (they clashed on Wednesday, CMAs long-time night, last fall). Both were shadows of their 2011 selves when the CMAs drew a 4.8 demo rating and X Factor posted a 3.7. Last night, X Factor managed a 2.3/6, even with last week's re-cut Tuesday special that spilled out of the network's primetime. But it was a series low for a regularly scheduled episode of the singing competition as the transition to live shows and the introduction of hosts Khloe Kardashian and Mario Lopez have failed to provide a boost.
CBS's The Big Bang Theory (5.1/15) was up a tenth from last week and Two And A Half Men (3.6/10) was down a tenth, but both may be adjusted down as CBS' San Diego affiliate carried an NFL game from 8-9 PM. Person Of Interest (3.0/8) also was up a tenth, while freshman Elementary (2.4/6) perked up by two tenths (9%). Following a Voice repeat, NBC's Rock Center With Brian Williams (1.3/3) was boosted by coverage of the Sandy aftermath, up 18% from last week.
On the CW, The Vampire Diaries (3.2 million viewers, up 10%; 1.6/5 in 18-34, up 14%; 1.5/5 in 18-49, up 15%) posted its highest-rated and most-watched episode since the season premiere. Beauty And The Beast was up a tenth in 18-34 (0.7/2) and 18-49 (0.6/2).
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Audit-Proof Archiving of the Communication via an Enterprise Messaging App
There are several legal requirements that oblige companies to archive business communications. This applies to traditional media such as the letter and the fax as well as to digital media for the communication such as the email but also instant messaging and chat apps and even chat bots. In the following, we describe which communications have to be documented and archived by an enterprise messaging app.


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MOD-BOX - Modular UPS Enclosure
|Click to enlarge image(s)
The versatility and expandability of the MOD-Box allows most outdoor projects to be accommodated by a combination of MOD-Boxes and modular accessories. The MOD-Box is uniquely able to provide a clean environment appropriate to accommodate today's multitude of environmentally sensitive electronics.
Low Solar Lading
- High gloss polyurethane finish reflects 86% of solar radiation
- Absorbs only 25% of the solar load of a typical ANSI 61 (Grey) NEMA enclosure
- Results in internal enclosure temperatures up to 30°F (17°C) cooler
- 300lbs. (136kg.) internal load capacity ea.
- Tamper resistant door & lock standard
- Universal Mount requires Box access to "un-mount" the enclosure
- Optional High-security locking
- Design does not rely upon seals to protect against water intrusion
- Non-ferrous 5052-H32 aluminum alloy body
- 304 stainless steel hardware and hinges
- Optional extreme environment capabilities: -130°F (-90°C) to 140°F (60°C)
- Cooling options include: digitally controlled fans & air conditioners
- Heating options include: insulation and digitally controlled air and surface heaters
- Multiple MOD-Boxes can be joined to provide larger enclosures
- Existing installations can be easily expanded to meet changing requirements
- One scalable design reduces spares and upgrade (add-on) engineering cost
- Managed penetration facilitates integration without cutting and ensures proper weatherization is always maintained
- Accommodates substantial convective cooling and battery venting
- Sealed, Vented, MERV 5, MERV 11 or washable Electrostatic
- Floor – (bolt-down or free-standing)
- Wall – MOD-Box Universal Mounts ensure airflow between wall and MOD-Box
- Pole – Square & Round Pole utilizing stainless straps or highsecurity U-bolts that are secured from the inside of the MOD-Box to deter tampering
- Unistrut™
- (Custom requests are welcome)
- IN – 110VAC/220VAC/Solar/Wind/Generator
- OUT - 12V, 24V, 48V (AC or DC) Regulated or unregulated power supply UPS
- Virtually unlimited UPS battery back-up capacities from 22Ah and up
- All seals are removable and replaceable
- Vandalized enclosures can be repaired using MOD-Box polyurethane "touch-up" finish
- Replaceable MERV 5/11 filters
- Washable Electrostatic filters
- Ext. Height (Incremental per MOD-Box without Lid): 16.1" (41cm)
- Ext. Height (Overall without Lid): 17.6" (45cm)
- Ext. Height (Overall with Lid): 19.75" (50cm)
- Ext. Width: 23.5" (60cm)
- Ext Depth (Overall MOD-Box Only): 18.2" (46cm)
- Ext. Depth (Overall with Universal Mount): 20.3" (52cm)
- Weight (MOD-Box, Door, Lid, Lock Only): 30lbs. (13.6kg)
- Superstructure Material: Aluminum – 5052-H32
- Fastener Material: Stainless Steel - 304
- Finish (Color): High Gloss, True White (standard)
- Finish (Material): Polyurethane
- Finish (Application): Electro-statically applied .004" (1mm) Typical
Click here to email us with you requirements


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Magic Miner
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Game info
1070 plays
Date added: 2015-02-23
Description: A cool miner is penetrating into some areas of a deep cave to look for valuable materials that are used for his process of constructing art buildings. It seems that here is an exceedingly challenging journey for him as there are numerous ugly monsters threatening his life, so it's important to have your assistance here, guys. Spend time on Magic Miner to experience the travel with him now. In Magic Miner, leading the miner through hard blocks to seek for valuable things like gold, diamonds, gems, coal, and others is the first job players are asked to do. In addition, destroy obstacles and kill all of the monsters trying to assault him to make way for him. Take a glance at colored squares at the bottom! There are certain weapons for the battle with the enemies here. Let's activate them to smooth his journey. Go now!
Instructions: Avail the arrow keys to move around.
The left mouse is to attack.
The left mouse is to attack.
Tags: magic miner block journey battle minecraft
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