The Sedona Canada Principles are a set of authoritative guidelines published by The Sedona Conference to aid members of the Canadian legal community involved in the identification, collection, preservation, review and production of electronically stored information (ESI). The principles were drafted by a small group of lawyers, judges and technologists called the Sedona Working Group 7 or Sedona Canada. Sedona Canada is an offshoot of The Sedona Conference which is an American "non-profit ... research and educational institute dedicated to the advanced study of law and policy in the areas of antitrust law, complex litigation, and intellectual property rights". == Background == Civil procedure in Canada is jurisdictional with each province following its own rules of civil procedure. However, each province must address the fact that due to the advancement of technology the discovery process enshrined in the rules of civil procedure can be potentially derailed due to the sheer volume of electronically stored information (ESI). When dealing with litigation matters that involve electronically stored information (ESI), the discovery process is commonly called e-discovery. The problems associated with e-discovery in Canada led to the creation of the Sedona Canada Principles. Rule 29.1.03(4) of the wikibooks:Ontario Rules of Civil Procedure specifically refers to the Sedona Canada Principles in referencing Principles re Electronic Discovery although it has been reported that this rule has been largely ignored in practice. == Summary == The Sedona Canada Principles largely refer to the processes found in the Electronic Discovery Reference Model. The principles urge proportionality due to the potentially enormous volumes of documents that may be discoverable when dealing with ESI. They also encourage good faith in the document preservation stage and regular meetings between parties to discuss the scope of the litigation. Parties are urged to be aware of the potential costs involved in producing relevant ESI but are advised that only reasonably accessible ESI need be produced. The principles stipulate that parties should not be required to search for or collect deleted material unless there is an agreement or court order related to those terms. The use of electronic tools and processes such as data sampling and web harvesting are acceptable practices. Parties are encouraged to agree early in the litigation process on production format required for the exchange of relevant documents as part of the discovery process (native files, pdf, tiff, metadata requirements etc.). Agreements or direction should be sought, if necessary, with respect to privilege or other confidential information related to production of electronic documents and data. Parties should be aware that legal precedents can be formed as a result of e-discovery practices and sanctions can be considered for a party's failure to meet their discovery obligations unless it can be demonstrated that the failure was not intentional. All parties must bear the “reasonable” costs associated with e-discovery but other arrangements can be agreed upon by the parties or by court order. == Caselaw == In Warman v. National Post Company proportionality was at issue in a case where the plaintiff was suing the defendant for libel. A motion was brought by the defendant to have the plaintiff provide a mirror image of his hard drive in an effort to prove an internet article was indeed authored by the plaintiff. Issues of proportionality and the work of the Sedona Conference and Sedona Canada Principles were factored in to the decision to grant the defendant only limited access to the hard drive. In Innovative Health Group Inc. v. Calgary Health Region the plaintiff's legal obligation to produce imaged hard drives is in question. Justice Conrad refers to the advice of Sedona Canada on proportionality and problems associated with time and expense related to the difficulties associated with electronically stored information. In York University v. Michael Markicevic Justice Brown specifically refers to the need for the parties to agree upon a formal e-discovery plan to be drafted in consultation with Sedona Canada Principles. In Friends of Lansdowne v. Ottawa Master MacLeod refers to the need for Sedona Canada principles and states “This is particularly true in the current information age when e-mail is ubiquitous and multiple copies or variants of messages may be held on various kinds of data storage devices including individual hard drives, e-mail and Blackberry servers. Even documents that ultimately exist in paper form normally begin their life on computers and negotiations frequently involve exchanges of electronic drafts. To find every scrap of paper and every electronic trace of relevant information has become a nightmarish task that threatens to render any kind of litigation extravagantly expensive.” == Criticism == Critics of the Sedona Canada Principles believe they should address system integrity and that the true history of any file preserved cannot be identified without proof of the integrity of the electronic record systems management it comes from. Other criticism is more directed to the Sedona Canada working group and complaints that it is insular and irrelevant.
FloodAlerts
FloodAlerts is a software application, developed by software specialists Shoothill, which takes real-time flooding information, and displays the data on an interactive Bing map, updating and warning its users when they, their premises or the routes they need to travel could be at risk of flooding. == History == FloodAlerts was launched in 2012, originally as the world's first Facebook flood warning app. == Operation == FloodAlerts is made available free of charge to individuals. Users are able to set up their own monitored locations and receive alerts via the application or their Facebook wall if the locations they are monitoring are at imminent risk of flooding. Hosted in the Cloud, using the Microsoft Windows Azure platform, the FloodAlerts application processes the data received from the Environment Agency, automatically creates the required map tiles, pins and alerts and displays them on an interactive Bing map, updating the content every 15 minutes. Users are able to see the latest information on the map without having to refresh their browser. FloodAlerts can also be provided as a customised risk management solution to businesses that require infrastructure or asset safety monitoring in areas where water levels are rising or receding. == Awards and recognition == FloodAlerts has received The Guardian and Virgin Media Business's 2012 Innovation Nation Awards and was shortlisted as a finalist for a further two national awards: the UK IT Industry Awards for Innovation and Entrepreneurship and The Institution of Engineering and Technology Innovation Awards for Information Technology. == In the press == The FloodAlerts application was reviewed on the BBC website. It was also reviewed on BBC Click.
Social media use in the financial services sector
Social media in the financial services sector refers to the use of social media by the financial services sector to promote and distribute financial services. Social media is used in various aspects of the financial industry including customer service, marketing, and product development. It has enabled financial institutions to extend their reach through direct and real-time communication with customers, fostering more personal connections. It also allows individuals to talk to other individuals creating lending and trading via social groups as well as developing new financial services by fintech startup companies. In terms of marketing, social media is utilized by both traditional financial companies as well as disruptive fintech companies such as peer-to-peer lending (P2P) companies. The financial industry has used information technology since its inception in the 1960s and social media fits in with this ongoing development. Larger, traditional financial firms have integrated social media into their marketing strategies. Companies in the financial sector are subject to strict regulations that include how they use social media. In the United States, the Financial Industry Regulatory Authority (FINRA) is a key regulator that sets rules how financial firms can interact with consumers. This includes ensuring that social media posts follow financial advertising rules, such as being fair and balanced and not providing misleading information, and that financial advice is not provided by unqualified personnel, such as influencers. == History == In 2003, at the beginning of social media development, MySpace was founded as a "social networking service." It allowed people to create a profile, connect with other people, and post videos, pictures, and songs. As MySpace grew in popularity, it attracted interest from companies wishing to promote their brands on the social platform. They were joined by Facebook and in 2010 by Instagram. Financial service firms were initially slow to adapt to promotion via social media but soon joined other big firms after they saw the success other industries had in engaging with younger people. == Uses == === Branding === While companies are able to connect with more people remotely through providing online financial services, their branding strategy has shifted from customized to standardized. Prior to the outbreak of technology, most banks used customized branding where they targeted only customers in their regions. Businesses can now use technology to operate beyond their geographic location and maintain a consistent image across multiple countries with standardized branding. By being able to extend a consistent brand reputation across a wider geographic location, financial services companies can take advantage of economies of scale in advertising cost, lower administrative complexity, lower entry into new markets, and improved cross-border learning within the company. === Customer engagement === Online banking reduced face-to-face interaction between customers and their banks. Most banking transactions can now be conducted online or through mobile devices, rather than at a local branch with a teller. Social media provides a channel for firms to maintain personal contact with customers, replicating some of the interaction that was previously available at local branches. For example, a bank's Facebook page may feature an employee profile describing their job duties, which serves to present a more human face for larger institutions. === Lending === Social media is a core marketing channel for online peer-to-peer lending as well as small business lenders. Since these companies operate exclusively online, it makes sense for them to market online through social media channels. They are able to grow and find new lenders and buyers by utilizing social networks. === Trading === Social trading is an alternative way of analyzing financial data by looking at what other traders are doing and comparing, copying and discussing their techniques and strategies. Prior to the advent of social trading, investors and traders were relying on fundamental or technical analysis to form their investment decisions. Using social trading investors and traders could integrate into their investment decision-process social indicators from trading data-feeds of other traders. Investors also use platform like Reddit, Signal messaging or WeChat to create social communities to discuss investments and finance. In some cases they use this to join together using meme stocks to move financial markets, such as the 2021 GameStop short squeeze incident. They can also use social groups to launch and promote new products such as cryptocurrencies. Investing application like WeBull incorporate a forum style messaging system on each stock that is available for trading. Financial brokers such as Fidelity Investments, Interactive Brokers, and E-Trade have moved to incorporate community features in their investment apps. == Regulations == The use of social media by investors and financial services professionals for business purposes is subject to regulatory oversight, in the United States this is done primarily by the Financial Industry Regulatory Authority (FINRA). FINRA's rules, designed to protect investors from misleading information in all communications and this also applies to social media communications. This includes ensuring that social media posts follow financial advertising rules, such as being fair and balanced and not providing misleading information, and that advice is not provided by unqualified personnel, such as influencers and bank staff acting in a personal capacity. Financial firms have to maintain books and records of all interaction with customers and this includes social media. == New products and services == Social media has created entirely new products for the financial services sector, revolutionizing products and developing new industries through the merging of social technology and financial services. Fintech startups use social media to promote products to get them established. Several developing nations have used social media to leapfrog traditional financial technology; for example, WeChat Pay, which developed from the Chinese WeChat social media platform, became a major payment system in China within a few years. In 2015, according to consulting firm Accenture, 390 million people in China had registered to use mobile banking. This figure is more than the population of the United States. In the United States, the fintech company Venmo combines technology and financial services on a social platform. Other financial technology companies that have used social media to develop or promote financial products include: Lending Club – One of the first peer-to-peer lending businesses OnDeck Capital – A US online-only lending business Funding Circle – A UK-based online lending company Wise – A global online money transfers company Kabbage – A US online unsecured loan company later acquired by American Express Avant – A US online unsecured loan company Zopa – A UK online neobank providing peer-to-peer lending == Risks == === Reputational damage === Due to the real-time nature of social media, financial services companies can be impacted by potential reputational issues. Any negative experience by customers can easily be shared online and could become a viral phenomenon, those comments could likely have a detrimental effect on the company’s stock price and reputation. On the other hand, any positive experience a customer has can also be shared online. However, positive experiences are much less likely to become viral. === Scams === The nature of social media makes it easy to target individuals without being seen by the wider community, this allows scammers to target individuals. Example include romance scams such as the pig butchering scam where an individual is tricked to transfer funds or assets to the scammer over social media making it hard for law enforcement to track them or recover funds. === Customer privacy === Customer privacy is important for the financial services industry. It is critical that customer information such as a bank account numbers and other personal information is kept private. However, this information can be leaked if for example, a customer is unhappy with a bank’s service, they may tweet at the bank expressing their frustrations and include their name and account number.
MDS matrix
An MDS matrix (maximum distance separable) is a matrix representing a function with certain diffusion properties that have useful applications in cryptography. Technically, an m × n {\displaystyle m\times n} matrix A {\displaystyle A} over a finite field K {\displaystyle K} is an MDS matrix if it is the transformation matrix of a linear transformation f ( x ) = A x {\displaystyle f(x)=Ax} from K n {\displaystyle K^{n}} to K m {\displaystyle K^{m}} such that no two different ( m + n ) {\displaystyle (m+n)} -tuples of the form ( x , f ( x ) ) {\displaystyle (x,f(x))} coincide in n {\displaystyle n} or more components. Equivalently, the set of all ( m + n ) {\displaystyle (m+n)} -tuples ( x , f ( x ) ) {\displaystyle (x,f(x))} is an MDS code, i.e., a linear code that reaches the Singleton bound. Let A ~ = ( I n A ) {\displaystyle {\tilde {A}}={\begin{pmatrix}\mathrm {I} _{n}\\\hline \mathrm {A} \end{pmatrix}}} be the matrix obtained by joining the identity matrix I n {\displaystyle \mathrm {I} _{n}} to A {\displaystyle A} . Then a necessary and sufficient condition for a matrix A {\displaystyle A} to be MDS is that every possible n × n {\displaystyle n\times n} submatrix obtained by removing m {\displaystyle m} rows from A ~ {\displaystyle {\tilde {A}}} is non-singular. This is also equivalent to the following: all the sub-determinants of the matrix A {\displaystyle A} are non-zero. Then a binary matrix A {\displaystyle A} (namely over the field with two elements) is never MDS unless it has only one row or only one column with all components 1 {\displaystyle 1} . Reed–Solomon codes have the MDS property and are frequently used to obtain the MDS matrices used in cryptographic algorithms. Serge Vaudenay suggested using MDS matrices in cryptographic primitives to produce what he called multipermutations, not-necessarily linear functions with this same property. These functions have what he called perfect diffusion: changing t {\displaystyle t} of the inputs changes at least m − t + 1 {\displaystyle m-t+1} of the outputs. He showed how to exploit imperfect diffusion to cryptanalyze functions that are not multipermutations. MDS matrices are used for diffusion in such block ciphers as AES, SHARK, Square, Twofish, Anubis, KHAZAD, Manta, Hierocrypt, Kalyna, Camellia and HADESMiMC, and in the stream cipher MUGI and the cryptographic hash function Whirlpool, Poseidon.
Social media use in the financial services sector
Social media in the financial services sector refers to the use of social media by the financial services sector to promote and distribute financial services. Social media is used in various aspects of the financial industry including customer service, marketing, and product development. It has enabled financial institutions to extend their reach through direct and real-time communication with customers, fostering more personal connections. It also allows individuals to talk to other individuals creating lending and trading via social groups as well as developing new financial services by fintech startup companies. In terms of marketing, social media is utilized by both traditional financial companies as well as disruptive fintech companies such as peer-to-peer lending (P2P) companies. The financial industry has used information technology since its inception in the 1960s and social media fits in with this ongoing development. Larger, traditional financial firms have integrated social media into their marketing strategies. Companies in the financial sector are subject to strict regulations that include how they use social media. In the United States, the Financial Industry Regulatory Authority (FINRA) is a key regulator that sets rules how financial firms can interact with consumers. This includes ensuring that social media posts follow financial advertising rules, such as being fair and balanced and not providing misleading information, and that financial advice is not provided by unqualified personnel, such as influencers. == History == In 2003, at the beginning of social media development, MySpace was founded as a "social networking service." It allowed people to create a profile, connect with other people, and post videos, pictures, and songs. As MySpace grew in popularity, it attracted interest from companies wishing to promote their brands on the social platform. They were joined by Facebook and in 2010 by Instagram. Financial service firms were initially slow to adapt to promotion via social media but soon joined other big firms after they saw the success other industries had in engaging with younger people. == Uses == === Branding === While companies are able to connect with more people remotely through providing online financial services, their branding strategy has shifted from customized to standardized. Prior to the outbreak of technology, most banks used customized branding where they targeted only customers in their regions. Businesses can now use technology to operate beyond their geographic location and maintain a consistent image across multiple countries with standardized branding. By being able to extend a consistent brand reputation across a wider geographic location, financial services companies can take advantage of economies of scale in advertising cost, lower administrative complexity, lower entry into new markets, and improved cross-border learning within the company. === Customer engagement === Online banking reduced face-to-face interaction between customers and their banks. Most banking transactions can now be conducted online or through mobile devices, rather than at a local branch with a teller. Social media provides a channel for firms to maintain personal contact with customers, replicating some of the interaction that was previously available at local branches. For example, a bank's Facebook page may feature an employee profile describing their job duties, which serves to present a more human face for larger institutions. === Lending === Social media is a core marketing channel for online peer-to-peer lending as well as small business lenders. Since these companies operate exclusively online, it makes sense for them to market online through social media channels. They are able to grow and find new lenders and buyers by utilizing social networks. === Trading === Social trading is an alternative way of analyzing financial data by looking at what other traders are doing and comparing, copying and discussing their techniques and strategies. Prior to the advent of social trading, investors and traders were relying on fundamental or technical analysis to form their investment decisions. Using social trading investors and traders could integrate into their investment decision-process social indicators from trading data-feeds of other traders. Investors also use platform like Reddit, Signal messaging or WeChat to create social communities to discuss investments and finance. In some cases they use this to join together using meme stocks to move financial markets, such as the 2021 GameStop short squeeze incident. They can also use social groups to launch and promote new products such as cryptocurrencies. Investing application like WeBull incorporate a forum style messaging system on each stock that is available for trading. Financial brokers such as Fidelity Investments, Interactive Brokers, and E-Trade have moved to incorporate community features in their investment apps. == Regulations == The use of social media by investors and financial services professionals for business purposes is subject to regulatory oversight, in the United States this is done primarily by the Financial Industry Regulatory Authority (FINRA). FINRA's rules, designed to protect investors from misleading information in all communications and this also applies to social media communications. This includes ensuring that social media posts follow financial advertising rules, such as being fair and balanced and not providing misleading information, and that advice is not provided by unqualified personnel, such as influencers and bank staff acting in a personal capacity. Financial firms have to maintain books and records of all interaction with customers and this includes social media. == New products and services == Social media has created entirely new products for the financial services sector, revolutionizing products and developing new industries through the merging of social technology and financial services. Fintech startups use social media to promote products to get them established. Several developing nations have used social media to leapfrog traditional financial technology; for example, WeChat Pay, which developed from the Chinese WeChat social media platform, became a major payment system in China within a few years. In 2015, according to consulting firm Accenture, 390 million people in China had registered to use mobile banking. This figure is more than the population of the United States. In the United States, the fintech company Venmo combines technology and financial services on a social platform. Other financial technology companies that have used social media to develop or promote financial products include: Lending Club – One of the first peer-to-peer lending businesses OnDeck Capital – A US online-only lending business Funding Circle – A UK-based online lending company Wise – A global online money transfers company Kabbage – A US online unsecured loan company later acquired by American Express Avant – A US online unsecured loan company Zopa – A UK online neobank providing peer-to-peer lending == Risks == === Reputational damage === Due to the real-time nature of social media, financial services companies can be impacted by potential reputational issues. Any negative experience by customers can easily be shared online and could become a viral phenomenon, those comments could likely have a detrimental effect on the company’s stock price and reputation. On the other hand, any positive experience a customer has can also be shared online. However, positive experiences are much less likely to become viral. === Scams === The nature of social media makes it easy to target individuals without being seen by the wider community, this allows scammers to target individuals. Example include romance scams such as the pig butchering scam where an individual is tricked to transfer funds or assets to the scammer over social media making it hard for law enforcement to track them or recover funds. === Customer privacy === Customer privacy is important for the financial services industry. It is critical that customer information such as a bank account numbers and other personal information is kept private. However, this information can be leaked if for example, a customer is unhappy with a bank’s service, they may tweet at the bank expressing their frustrations and include their name and account number.
Sparrow (chatbot)
Sparrow is a chatbot developed by the artificial intelligence research lab DeepMind, a subsidiary of Alphabet Inc. It is designed to answer users' questions correctly, while reducing the risk of unsafe and inappropriate answers. One motivation behind Sparrow is to address the problem of language models producing incorrect, biased or potentially harmful outputs. Sparrow is trained using human judgements, in order to be more “Helpful, Correct and Harmless” compared to baseline pre-trained language models. The development of Sparrow involved asking paid study participants to interact with Sparrow, and collecting their preferences to train a model of how useful an answer is. To improve accuracy and help avoid the problem of hallucinating incorrect answers, Sparrow has the ability to search the Internet using Google Search in order to find and cite evidence for any factual claims it makes. To make the model safer, its behaviour is constrained by a set of rules, for example "don't make threatening statements" and "don't make hateful or insulting comments", as well as rules about possibly harmful advice, and not claiming to be a person. During development study participants were asked to converse with the system and try to trick it into breaking these rules. A 'rule model' was trained on judgements from these participants, which was used for further training. Sparrow was introduced in a paper in September 2022, titled "Improving alignment of dialogue agents via targeted human judgements"; however, the bot was not released publicly. DeepMind CEO Demis Hassabis said DeepMind is considering releasing Sparrow for a "private beta" some time in 2023. == Training == Sparrow is a deep neural network based on the transformer machine learning model architecture. It is fine-tuned from DeepMind's Chinchilla AI pre-trained large language model (LLM), which has 70 Billion parameters. Sparrow is trained using reinforcement learning from human feedback (RLHF), although some supervised fine-tuning techniques are also used. The RLHF training utilizes two reward models to capture human judgements: a “preference model” that predicts what a human study participant would prefer and a “rule model” that predicts if the model has broken one of the rules. == Limitations == Sparrow's training data corpus is mainly in English, meaning it performs worse in other languages. When adversarially probed by study participants it breaks the rules 8% of the time; however, this is still three times lower than the baseline prompted pre-trained model (Chinchilla).
Trust federation
A trust federation is part of the evolving Identity Metasystem that will bring a new layer of persistent identity and trusted data sharing to the Internet. Although the concept of trust federations is technology neutral, several protocols like SAML, OpenID, Information Card, XDI can handle the challenges of technical interoperability. The challenge of business and social interoperability requires a new type of cooperative association similar to a credit card association. Instead of banks, however, a trust federation is an alliance of i-brokers and their customers who agree to abide by a common set of agreements in the care and handling of customer data. A model for trust federations is offered by Open Identity Exchange and Kantara Initiative, which is applied in the U.S. Government ICAM Trust Framework. Some operational trust federations are: InCommon (academic, USA) REFEDs (Research and Education Federations, Europe) IGTF Interoperable Global Trust Federation Portalverbund Government Portal Federation, Austria Trust federations are not limited to the social web use case, but apply to all federations where trust in identity and compliance to other objectives of information security such as confidentiality, integrity and privacy is brokered.