One was anticipating. You know the Central Banks are good about telling the markets what theyre going to do in advance and when that doesnt happen you see swings like this. The Swiss National bank coming out with its news saying it was going to delock the swiss franc from the euro. Since 2011 they had been tying the currency cap in 2011. Swiss national bairng was saying you had to have 1. 2 swiss francs to the euro. They let that go unexpectedly. Moved 30 . Basically 120 euro. 120 swiss francs to the euro. Yeah down. 86. Right. Its complicated stuff and theres a lot to get your head around but this is a massive move. Weve never seen a currency swing like this before. It was also the u. S. Dollar we saw the swing against because the dollar was high against the swiss frank because it was tied to the euro. When they let that go it was a massive snap. So it had been that they were benefitting by being tied to a weak euro but it wanted to go much higher and obviously i want it wanted to go
One issue is even if there are no abuses the industry cannot handle having a best interest standard applied to these recommendations. Thats what the dol is doing. Its almost the standard that is applied to broker dealers under the suitability standard. The recommendation must be consistent and you look under the hood and it turns out these are some of the worst violations that you can find. In one case the court said this was egregious misconduct. These are cases if many if not most broker deals. The unsuitable recommendations are accompanied by other Violations Including failure to supervise, churning, misrepresentations or omissions and unauthorized trading. The suitability standard works. Lets not make believe that its actually serving clients best interest. Youve said the current rules support a race to the bottom. Why do you think they support a race to the bottom currently . I think hearing the panelist discuss all the legalese involved here its a well documented fact that its ve
The us. Well these ancient stable pro quo and unsustainable growth in east asia this year. Welsh artist hes so good. Yes she has the capacity to just dump a process in china. I seem to be launched into two types stokes combo tech shares in the storm didnt cut down the nikkei climbed one point seven percent. Well come to this edition of his age on sas to the news on two people engaging developing countries in East Asia Pacific region will see stable growth this year will advance as it is these asia pacific in long update released today that the regions e coli in the colony is posted by a recovery in developed countries and Marcus Morris response to the fence to be tapering so stop developing east asia will grow by seven point one percent is he a largely on change from two thousand thirteen the vocalists as as result is danger remains the post is growing region in the boat despite the slowdown from the average growth rate of eight percent from two thousand ninety pound fourteen in china
Commercial directed vary significantly. The existing concentration of formula retail you see in this map we looked earlier youll see did county react differently its not possible to define an ideal level of the concentration that would be applied. Changing the definition of formula retail to businesses with at least 20 other establishment will exempt some face growing teaspoons company. So start ups in San Francisco like the soup company those changes are over the they recalled of 11 their significantly smaller than well established chances that concludes my report. Now youve heard the full content of the report we ask for your the comments from you and the public. This is by Community Experience and developed knowledge. The work to date is to meet the timeline of the legislators its crucial to understanding a broad understanding of the issues were looking to continue this Engagement Process through the commissions hearings. So prior to hearing the ordinance on june 5th. Thank you than
Behalf of the stores also. I just want to say those stores provide a large amount of minority with jobs if you take those away we wont have much to look forward to. Im also to say that the stores are helpful for elderly people that only have the use of the Public Transportation access to pharmacies easily and also i want to say that the stores is also helpful to a lot of the in connection families in a lot of the community in San Francisco so if you take those stores away the crime wave will go higher in San Francisco. Thats all i have to say thank you. Next speaker. Hi commissioners im jay with the San Francisco realtor. We believe in walkable exciting merchant corridors with we want to echo many workmans thoughts and recommendations. We that that having a number above the current 11 above the cap is exciting keep that in mind that number to 20 unite it defined as the Retail Institution now i, you know, which kind of neighborhoods that are serving the formulate retailers youre letting