Latest news with #AST
Finextra
5 days ago
- Business
- Finextra
IA, PIMFA and AIMA issue recommendation on T+2 fund settlement
The Investment Association (IA), Personal Investment Management and Financial Advice Association (PIMFA) and Alternative Investment Management Association (AIMA) have joined forces to issue a recommendation encouraging firms to alter their fund settlement timings to T+2 on or before 11 October 2027. 0 The recommendation aims to align fund settlements more closely with plans in the UK, EU and Switzerland to move securities trades to T+1 by the same date, and comes one-year after the milestone move in the US to T+1 for securities trading. There is a general trend towards quicker settlement in global capital markets, to improve operational efficiencies, increase liquidity for investors and reduce manual processing demand. In a recent report from the government's Accelerated Settlement Taskforce (AST), T+2 was identified as optimal for fund settlement, to provide cash management flexibility whilst minimising a potential funding gap with products settling at T+1. Chris Cummings, CEO of the Investment Association, commented: 'As a critical bridge between investors and capital markets, it's extremely important that the funds industry keeps pace with broader changes in financial services infrastructure. 'The move to T+2 for funds will encourage greater global alignment on settlement cycles, enabling better services for investors, fostering a more robust financial ecosystem and improving the competitiveness of UK and European funds. We encourage firms, their service providers and the wider distribution chain to kickstart preparations for T+2, focusing on the delivery date to ensure a smooth transition.' Liz Field, Chief Executive of the Personal Investment Management and Financial Advice Association, commented: 'PIMFA and its members support the reduction of the settlement cycle for UK funds transactions to T+2. This is an important step towards greater global alignment on settlement cycles, which will foster a more robust financial ecosystem, drive economic growth, increase investor confidence and improve the competitiveness of UK markets.' Jack Inglis, CEO of the Alternative Investment Management Association, commented: 'AIMA welcomes the UK Accelerated Settlement Taskforce's (AST) roadmap for transitioning to a T+1 securities settlement cycle by 11 October 2027. We are committed to working with the industry to implement the necessary changes to ensure a smooth transition. In line with the AST's recommendations, AIMA is actively supporting firms with the global shift towards shorter securities settlement cycles. This transition will contribute to a more efficient and competitive financial ecosystem, benefiting market participants and investors alike.' Andrew Douglas, Chair of the Government's Accelerated Settlement Taskforce commented: 'As chair of the Accelerated Settlement Taskforce (AST), on behalf of the AST, I wholeheartedly welcome and support this recommendation from IA, PIMFA and AIMA. It fully aligns with the industry's February 2025 T+1 Implementation plan, specifically ENV 11, both on content and the required deadline. I would encourage all participants to adopt it as part of their preparation for the implementation of UK T+1 on 11th October 2027.' Separately, the IA has provided its members with a list of considerations for fund managers, providing a framework for co-ordinated action by firms who wish to mitigate challenges presented by the market change. The IA made a similar recommendation in 2014 for funds in alignment with market changes in most of Europe to T+2.
Yahoo
5 days ago
- General
- Yahoo
2 Men Still Missing After Memorial Day Boat Tragedy
Two men are still missing after their boat sank on May 26 off the coast of Western Alaska, according to a press release from the Alaska State Troopers (AST). Albert Williams, 65, and Samuel Shavings, 72, were riding on a 10-foot Ocean Pro vessel along with Williams's 19-year-old son in an area located near an island off the Bering Sea. Around 9 p.m. local time on Monday, authorities received a call that the boat had sunk amidst harsh 19-year-old passenger, whose name has not been publicly disclosed, was able to swim from the wreckage to shore, where he was transported to a medical clinic for treatment. At first, the AST reported that a second passenger had been extricated from the water. However, on May 27, the AST 'corrected' that report and confirmed that the older men are still missing. Williams's daughter, Dallas, told Alaska News Source that her father and brother had gone out to hunt for seals. 'They were looking—my dad hadn't gotten a seal yet this spring—so they went to go look for seals,' Dallas explained. 'It's a seasonal thing every spring.'Dallas continued, detailing how the boat reportedly sank: 'My brother says that [the sea] was getting really rough and they were taking water in from the motor side. And it just filled up with too much water. We have a whole bunch of family coming over to be with my mom so that we're not alone. A lot of people have been bringing food, so we haven't been alone at all since.' From Monday night into Tuesday morning, two local boats and a U.S. Coast Guard vessel searched for Williams and Shaver to no avail. On Tuesday, the Rescue Coordination Center launched a C-130 plane to aid in recovery efforts. A representative from the Alaska State Troopers did not immediately respond to a request for comment from Men's Journal.2 Men Still Missing After Memorial Day Boat Tragedy first appeared on Men's Journal on May 29, 2025
Yahoo
6 days ago
- Climate
- Yahoo
2 Men Missing After Boat Sinks Off Coast of Alaskan Island
Samuel Shavings, 72, joined neighbors Albert Williams, 65, and Williams' 19-year-old son for a fishing trip on Monday, May 26 During their excursion, their boat sank off the coast of Western Alaska near Nunivak Island in the Bering Sea Williams' son was able to swim safety, but his father and Shavings are still missingTwo men are still missing after the boat they were on sank off the coast of Western Alaska on Monday, May 26, according to an Alaska State Trooper (AST) news release. Albert Williams, 65, and Samuel Shavings, 72, were on a 10-foot Ocean Pro boat with Williams' 19-year-old son near Mekoryuk, a town located on Nunivak Island in the Bering Sea. Mekoryuk is a village of about 300 people on Nunivak Island in Western Alaska, and is 550 miles west of Anchorage. Around 9 p.m. local time, AST received a call that a boat sank in rough water conditions. The 19-year-old swam to shore and was transported to a clinic for further evaluation and treatment. Initially, the AST reported that a second man had been recovered safely, per Alaska News Source. However, on Tuesday, May 27, AST "corrected" its previous report and confirmed that both men are still missing. Williams' daughter, Dallas, told the outlet that her father and brother were out subsistence fishing with their neighbor, Shavings. 'They were looking — my dad hadn't gotten a seal yet this spring — so they went to go look for seals,' she explained. 'It's a seasonal thing every spring.' She then explained how the boat sank. 'My brother says that [the sea] was getting really rough and they were taking water in from the motor side,' she said. 'And it just filled up with too much water.' 'We have a whole bunch of family coming over to be with my mom so that we're not alone,' Dallas said. 'A lot of people have been bringing food, so we haven't been alone at all since.' The ASP reported that two local boats and the U.S. Coast Guard searched for the men from Monday night to Tuesday morning. Additionally, the Rescue Coordination Center planned to launch a C-130 plane on Tuesday morning. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. A representative for the Alaska State Troopers did not immediately respond to PEOPLE's request for more information on Wednesday. Read the original article on People
Daily Record
23-05-2025
- Business
- Daily Record
Emergency summit call for threatened Perth air training facility
It comes as administrator says no suitable offer has been made for the Perth Airport based business. A call was made this week for an emergency summit to save jobs and courses at Perth's Air Service Training (AST) facility. It comes as the administrator, appointed early April, said no suitable offer had been made for the business - despite interest from 51 parties. Assets are to be sold and it is understood staff have been laid off. The wholly-owned subsidiary of UHI Perth based at the city's airport employed 28 people and had trained 190,000 engineers and pilots from around 150 countries since it was set up in 1931. When AST courses ceased immediately last month – with the exception of the BSc in Aircraft Maintenance Engineering and Management programme set to continue until the end of the academic year – the situation was described as devastating by Perth MP Pete Wishart. Last week, UHI Perth principal and chief executive Dr Margaret Cook resigned amid what was said to be 'an extremely challenging financial landscape.' Perthshire Conservative MSP Murdo Fraser had suggested that £8.1m earmarked in 2020 for a Perth College Aviation Academy for Scotland (AAS) plan, under Tay Cities regional UK and Scottish government funding, could be used to restore cancelled courses. The plans envisaged 540 training places over the first four years of operation. Mr Fraser wrote to Scottish Government Deputy First Minister Kate Forbes this week to call for an emergency summit on how money can best be used to save AST jobs and training courses. Recent developments, like the resignation of UHI principal, he said, meant the future of aviation training in Tayside is more uncertain than ever. Mr Fraser added: 'I believe an emergency summit on how this money can be best used to save both the jobs and training courses which previously existed at AST, must be urgently arranged. 'The summit, which would include senior figures from both the Scottish and UK Governments, Perth and Kinross Council, UHI Perth and key stakeholders from Scotland's aviation sector, would discuss options on the best way forward on this issue. 'Holding a summit would see us working together to ensure that Tayside can continue providing world-class aviation engineering training for young people across Scotland.' AST administrator Shona Campbell of Henderson Loggie said this week: 'Despite interest from 51 parties, no suitable offer was received for the purchase of the business as a whole. 'As a result, an online auction of Air Service Training (Engineering) Limited's physical assets is now live and will close at 11am on Wednesday May 28, 2025. 'We remain committed to supporting students, ensuring they can complete their courses and receive certification for completed exams.' A Scottish Government spokesperson said yesterday (Thursday): 'Air Service Training was a partner in a wider investment proposal for an Aviation Academy which secured £8.1 million of capital funding from the Tay Cities Region Deal. 'We have been clear this funding will not be lost to the region and we will continue to work with regional partners and the UK Government to explore other viable delivery options. 'It is welcome that UHI Perth has provided funding to ensure that current Aircraft Maintenance Engineering and Management students can complete this academic year, and that work is continuing with alternative providers to identify longer term options for existing students to complete their qualifications.'
Yahoo
23-05-2025
- Health
- Yahoo
MEDIA ADVISORY - Lace Up and Walk for Dementia Care: Join the Alzheimer Society of Toronto to Help Provide Community, Connection and Care
TORONTO, May 23, 2025 /CNW/ - The Alzheimer Society of Toronto (AST) is inviting Torontonians to join the IG Wealth Management Walk for Alzheimer's on Saturday, May 24, 2025, at Historic Fort York. The largest fundraiser for dementia care across Canada, the Walk for Alzheimer's raises critical funds that allow AST to provide free, life-changing programs and services to more than 15,000 people across Toronto each year. As trusted partners on the difficult dementia journey, the Alzheimer Society of Toronto walks alongside individuals and families impacted by dementia—offering compassionate support, assistance with care navigation, and works to create moments of joy and connection. With more than 51,000 people living with dementia in Toronto and numbers expected to rise sharply—reaching over 1.7 million across Canada by 2050—the need for community-based dementia support has never been greater. "We hear every day the lifeline that our services are—especially for care partners, who represent 90% of the people we support," says Dave Spedding, CEO of the Alzheimer Society of Toronto. "Whether it's a music program that sparks a smile, a support group that offers relief and understanding, or one of our Active Living programs that fosters community and connection, AST is there. The Walk helps us continue to provide crucial support and programs—at no cost to those who need them most." Hosted by Toronto's own Erica Ehm, the Walk kicks off at 9:00 AM and offers 1 KM and 3 KM routes, with plenty of family-friendly fun for all ages. When: Saturday, May 24, 2025 Opening Ceremonies start at 10:10am Where: Fort York, Garrison Commons Speaking from the Stage: • Erica Ehm, Host• Dave Spedding, CEO Alzheimer Society of Toronto• Damon Murchison, President and CEO of IG Wealth Management• Vas Pachapurkar, Vice-President, IG Private Wealth Management• Lisa Vogel, Care Giver, Lived Experience Interviews with AST leadership, individuals with lived experience, or event participants can be arranged. For more information on the Walk visit About the Alzheimer Society of TorontoThe Alzheimer Society of Toronto provides free counselling and education to people with Alzheimer's disease and other dementias, their families, and caregivers. They deliver specialized training and professional development for frontline health-care providers, and engage in public education and awareness events to increase accessibility to dementia information. SOURCE Alzheimer Society of Toronto View original content to download multimedia: Sign in to access your portfolio
