From The Desk of Fernando Guzmán Cavero -September 8, 2014: Who really protects consumers in Perú?

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Fernando Guzmán Cavero

THE BLUFF TO PROTECT PERUVIAN CONSUMERS

The National Institute for the Defense of Competition and Protection of Intellectual Property (INDECOPI) was created in November 1992 by Decree Law No. 25868.

Its functions market promotion and protection of consumer rights. Additionally, in the Peruvian economy fosters a culture of fair and honest competition, protecting all forms of intellectual property: from logos and copyrights to patents and biotechnology.

INDECOPI is a specialized public agency under the Presidency of the Council of Ministers, with legal personality under public law. Consequently, with functional, technical, economic, budgetary and administrative autonomy (Legislative Decree ^No.1033).

As a result of its work in promoting the standards of fair and honest competition between agents of the Peruvian economy, INDECOPI is currently conceived as a service entity with a strong concern for promoting a culture of quality to achieve full customer satisfaction: citizens, business and the state. 

THE DECENCY EFFORT TO PROTECT PERUVIAN CONSUMERS

The National Institute for the Defense of Competition and Protection of Intellectual Property (INDECOPI) was created in November 1992 by Decree Law No. 25868.

Its functions market promotion and protection of consumer rights. Additionally, in the Peruvian economy fosters a culture of fair and honest competition, protecting all forms of intellectual property: from logos and copyrights to patents and biotechnology.

INDECOPI is a specialized public agency under the Presidency of the Council of Ministers, with legal personality under public law. Consequently, with functional, technical, economic, budgetary and administrative autonomy (Legislative Decree ^No.1033).

As a result of its work in promoting the standards of fair and honest competition between agents of the Peruvian economy, INDECOPI is currently conceived as a service entity with a strong concern for promoting a culture of quality to achieve full customer satisfaction: citizens, business and the state. 

DealBook P.M. Edition - September 8, 2014: Top News: Martoma Sentenced to 9 Years in Prison for Insider Trading .

For the latest updates, go to dealbook.nytimes.com »

MONDAY, SEPTEMBER 8, 2014

TOP STORY Martoma Sentenced to 9 Years in Prison for Insider Trading Mathew Martoma was sentenced to nine years in prison on Monday for carrying out one of the biggest insider trading schemes on record in 2008 when he was working as a portfolio manager at Steven A. Cohen's former hedge fund, SAC Capital Advisors. The sentence was in line with what the government was seeking. Prosecutors working for Preet Bharara, the United States attorney in Manhattan, had asked for a prison term of eight years or more for Mr. Martoma, who was convicted in February by a federal jury in Manhattan. Mr. Martoma's lawyers have simply asked Judge Paul G. Gardephe to show mercy and sentence him to a significantly shorter term. DEALBOOK »

For the latest updates, go to dealbook.nytimes.com »

DEALBOOK HIGHLIGHTS Be Nice to Underlings, Jefferies Bankers Are Told"Waiting until the last minute to hand out work, creating unnecessary projects or deadlines, or just being insensitive makes you a jerk," two top Jefferies executives write in a letter to their bankers. DEALBOOK » Hertz's Chief Steps Down as Icahn Maintains PressureMark P. Frissora's decision comes a few weeks after Carl C. Icahn disclosed an 8.48 percent stake in the rental car provider along with plans to improve shareholder value. DEALBOOK » Chiquita Delays Shareholder Meeting to Talk With Bidders Chiquita now plans to meet with two Brazilian companies that have made a bid for the company. Two advisory firms have recommended that shareholders reject Chiquita's planned merger with Fyffes. DEALBOOK » Wall Street Hand Stays the Stormy Course at N.Y.U.Although he is to step down next year as chairman of N.Y.U.'s board of trustees, Martin Lipton, through his successor, is virtually guaranteeing the continuation of policies opposed by many faculty members, William D. Cohan writes in the Street Scene column. DEALBOOK » Carlyle Deal Concludes a Lawsuit Against Private Equity The agreement to pay $115 million to settle accusations that it illegally colluded with its rivals to lower the prices of corporate buyouts ends a seven-year headache for the industry and brings the final tab to $590.5 million. DEALBOOK » Royal Bank of Scotland's U.S. Unit Sets Price Range for I.P.O. At the midpoint of the range, the Citizens Financial Group, based in Providence, R.I., would be valued at $13.4 billion. DEALBOOK » R.B.S. Tries to Paint Too Pretty a Picture for Citizens I.P.O. The Royal Bank of Scotland is making a lot of rosy assumptions in valuing Citizens Financial ahead of its I.P.O., writes Antony Currie of Reuters Breakingviews. DEALBOOK » Activist Investor Barry Rosenstein to Join Walgreen Board The appointment comes as Walgreen completes an acquisition of the British pharmacy chain Alliance Boots. Mr. Rosenstein will also recommend an additional director to the board. DEALBOOK » BB&T to Buy Kentucky Bank BB&T said on Monday that it would acquire the Bank of Kentucky for $363 million in cash and stock. DEALBOOK » LOOKING AHEAD Apple plans to unveil its much-anticipated wristband device on Tuesday, as well as two iPhones. The Senate Banking Committee holds a hearing on "Wall Street Reform: Assessing and Enhancing the Financial Regulatory System." JPMoran Chase's chief financial officer, Marianne Lake, speaks at the Barclays Global Financial Services Conference.

For the latest updates, go to dealbook.nytimes.com »

NYT Video - September 8, 2014: Surviving an ISIS Massacre

Monday, September 8, 2014

International Surviving an ISIS Massacre ISIS massacred hundreds of Iraqi military recruits in June. Ali Hussein Kadhim survived. This is his improbable story. [Includes graphic images.] Watch »

Science - Out There Echoes of Light Light from exploding stars can live on in the form of echoes, rippling across space and illuminating clouds of dust and gas that might otherwise be invisible. Watch »

FTC | Settled Charges - September 8, 2014: Green Coffee Bean Manufacturer Settles FTC Charges of Pushing its Product Based on Results of “Seriously Flawed” Weight-Loss Study.

Green Coffee Bean Manufacturer Settles FTC Charges of Pushing its Product Based on Results of “Seriously Flawed” Weight-Loss Study A Texas-based company, Applied Food Sciences, Inc. (AFS), has settled Federal Trade Commission charges that it used the results of a flawed study to make baseless weight-loss claims about its green coffee extract to retailers, who repeated those claims in marketing finished products to consumers. The FTC complaint alleges the study was so hopelessly flawed that no reliable conclusions could be drawn from it. The flawed study, which purported to show that the product causes “substantial weight and fat loss,” was later touted on The Dr. Oz Show. The FTC’s settlement with Applied Food Sciences, Inc. (AFS), which sells a green coffee ingredient used in dietary supplements and foods, requires the company to pay $3.5 million, and to have scientific substantiation for any future weight-loss claims it makes, including at least two adequate and well-controlled human clinical tests. “Applied Food Sciences knew or should have known that this botched study didn’t prove anything,” said Jessica Rich, Director of the FTC’s Bureau of Consumer Protection. “In publicizing the results, it helped fuel the green coffee phenomenon.” According to the FTC’s complaint, in 2010, Austin, Texas-based AFS paid researchers in India to conduct a clinical trial on overweight adults to test whether Green Coffee Antioxidant (GCA), a dietary supplement containing green coffee extract, reduced body weight and body fat. The FTC charges that the study’s lead investigator repeatedly altered the weights and other key measurements of the subjects, changed the length of the trial, and misstated which subjects were taking the placebo or GCA during the trial. When the lead investigator was unable to get the study published, the FTC says that AFS hired researchers Joe Vinson and Bryan Burnham at the University of Scranton to rewrite it. Despite receiving conflicting data, Vinson, Burnham, and AFS never verified the authenticity of the information used in the study, according to the complaint. Despite the study’s flaws, AFS used it to falsely claim that GCA caused consumers to lose 17.7 pounds, 10.5 percent of body weight, and 16 percent of body fat with or without diet and exercise, in 22 weeks, the complaint alleges. Although AFS played no part in featuring its study on The Dr. Oz Show, it took advantage of the publicity afterwards by issuing a press release highlighting the show. The release claimed that study subjects lost weight “without diet or exercise,” even though subjects in the study were instructed to restrict their diet and increase their exercise, the FTC contends. The proposed order settling the FTC’s charges bars AFS from misrepresenting any aspect of a test or study related to the products it sells, and prohibits the company from providing anyone else with the means of falsely advertising, labeling, promoting, or using purported substantiation material in marketing their own products. The order further requires AFS to notify trade customers of the FTC’s conclusion that the company lacked reasonable scientific support for the weight-loss and fat-loss claims it made. Finally, the proposed order requires AFS to pay $3.5 million. Information for Consumers The FTC advises consumers to carefully evaluate advertising claims for weight-loss products. For more information, see the FTC’s guidance for consumers of products and services advertised for Weight Loss & Fitness. The Commission vote authorizing the staff to file the complaint and proposed stipulated final order was 5-0. The complaint and order were filed in the U.S. District Court for the Western District of Texas, Austin Division. The proposed order is subject to court approval. The FTC is a member of the National Prevention Council, which provides coordination and leadership at the federal level regarding prevention, wellness, and health promotion practices.  The National Prevention Strategy, released June 16, 2011, aims to guide our nation in the most effective and achievable means for improving health and well-being. This case advances the National Prevention Strategy’s goal of increasing the number of Americans who are healthy at every stage of life. NOTE: The Commission files a complaint when it has “reason to believe” that the law has been or is being violated and it appears to the Commission that a proceeding is in the public interest. Stipulated orders have the force of law when approved and signed by the District Court judge. The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook, follow us onTwitter, and subscribe to press releases for the latest FTC news and resources. MEDIA CONTACT:Mitchell J. Katz Office of Public Affairs  202-326-2161 STAFF CONTACT:  Elizabeth Tucci Bureau of Consumer Protection  202-326-2402 Related Cases Applied Food Sciences, Inc. For Consumers Weighing the Claims in Diet Ads Health & Fitness For Businesses Blog: Wake up and smell the coffee Health Claims More news from the FTC >>

NYT | Politics - September 8, 2014: Political Shift Stalls Efforts to Overhaul Immigration

September 8, 2014 Politics

Political Shift Stalls Efforts to Overhaul Immigration By JULIE HIRSCHFELD DAVIS and ASHLEY PARKER Though granting legal status to undocumented immigrants once looked like an imperative for both parties, a surge of Central American migrants into the United States has rendered the issue too toxic for President Obama. Obama to Present Case for Broader U.S. Mission Against Militants By JULIE HIRSCHFELD DAVIS In an interview on NBC, President Obama said he would speak to the nation on Wednesday to try to make a case for launching a wider United States-led offensive against ISIS in the Middle East. Bill Clinton and George W. Bush Banter, and Introduce Leadership Program By AMY CHOZICK The two former presidents exchanged compliments in Washington on Monday as part of an initiative involving four presidential libraries.

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Veteran Democrat Faces Hurdles to Re-election

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John F. Tierney, a representative for the North Shore of Boston and a nine-term Democrat, knows about tough races against Republicans, but he faces a strong primary challenge from an Iraq War veteran.

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For Democratic candidates, the system overhaul has taken center stage in a primary that has become one of the most divisive in the country.

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In an address, Treasury Secretary Jacob Lew said he would decide what action the administration could take on loopholes and so-called inversions.

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Lessons From Losses Drive Massachusetts Candidates

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Martha Coakley, a Democrat, and Charlie Baker, a Republican, were stung in 2010, but both are favored to win in the primary for governor on Tuesday.

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Shift in Alaska Helps Republicans Retain Senate Edge

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After the latest batch of data from an online panel, our forecasting model gives the G.O.P. a 61 percent chance of retaking Senate control.

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SEC | Announcements - September 8, 2014: SEC Names Victor Valdez As Enforcement Division’s Chief Operating Officer

SEC Names Victor Valdez As Enforcement Division’s Chief Operating Officer

09/08/2014 01:55 PM EDT

The Securities and Exchange Commission today announced that Victor J. Valdez has been named Chief Operating Officer and Managing Executive of the agency’s Enforcement Division, where he will oversee project management, information technology, human capital strategy, and risk management among other functions.

Mr. Valdez comes to the SEC from the Federal Deposit Insurance Corporation (FDIC), where he is the Deputy Director of Strategic Planning and Corporate Programs for FDIC’s Corporate University.  He previously served as the Deputy Director of Strategic Planning and Resource Management in FDIC’s Division of Risk Management Supervision.  He will begin his new post on September 22.

“Vic brings an impressive breadth of management and planning experience to the critical position of Managing Executive,” said Andrew J. Ceresney, director of the SEC’s Enforcement Division.  “I am pleased that he will take a leading role in the Division’s ongoing efforts to improve our effectiveness and efficiency.”

Mr. Valdez said, “I am honored and humbled to join the SEC.  I look forward to working with all of the talented staff in the Division of Enforcement to carry out the SEC’s mission to protect investors.”

Before joining the FDIC, Mr. Valdez was an officer of the Senior National Intelligence Service with the Office of the Director of National Intelligence.  He served with the ODNI as the Chief of Staff for the National Counterintelligence Executive and Chief of Staff for the Deputy Director for Operations Support, National Counterterrorism Center.  Mr. Valdez also served for over 20 years as an officer in the US Air Force.  During his varied assignments, Mr. Valdez was a special agent with the Air Force Office of Special Investigations, responsible for investigating criminal, terrorist, and intelligence threats to the Air Force, Department of Defense, and U.S. government.

In addition to his undergraduate degree from the U.S. Air Force Academy, Mr. Valdez has earned graduate degrees in international affairs from Saint Mary’s University (Texas) and in military operational art and science from the Air Command and Staff College.  He earned his MBA from the Robert H. Smith School of Business at the University of Maryland.

WSJ | Most Actives Closing - September 8, 2014.

THE WALL STREET JOURNAL Most Actives Closing

Most Active Stocks by Volume 4:47 pm ET 09/08/2014 NYSE ISSUE VOLUME PRICE CHG % CHG Bank of America (BAC) 93,681,117 $16.35 0.33 2.06 Petroleo Brasileiro ADS (PBR) 60,881,220 18.35 -1.03 -5.31 Ford Motor (F) 47,200,721 16.80 -0.34 -1.98 Vale ADS (VALE) 33,523,769 12.46 -0.22 -1.74 Boston Scientific (BSX) 33,052,049 12.32 0.31 2.58 Twitter (TWTR) 30,719,743 52.00 1.30 2.56 Hertz Global Holdings (HTZ) 28,485,105 28.50 0.04 0.14 Nokia ADS (NOK) 25,746,980 8.49 0.17 2.04 Petroleo Brasileiro ADS A (PBRA) 24,297,290 19.24 -1.03 -5.08 General Motors (GM) 21,916,470 33.24 -1.04 -3.03 General Electric (GE) 20,162,360 26.08 -0.02 -0.08 Ambev ADS (ABEV) 19,858,130 6.95 -0.17 -2.39 Oracle (ORCL) 19,409,242 40.64 -0.63 -1.53 Rite Aid (RAD) 18,562,442 6.46 -0.03 -0.46 AK Steel Holding (AKS) 14,456,101 9.84 -0.60 -5.75 Pfizer (PFE) 14,435,917 29.40 -0.25 -0.84 Citigroup (C) 13,509,389 52.05 -0.25 -0.48 Mobileye (MBLY) 13,289,159 53.01 3.04 6.08 EMC (EMC) 13,249,941 29.28 0.25 0.86 Yamana Gold (AUY) 13,056,934 7.36 -0.37 -4.79 J.C. Penney (JCP) 12,328,573 10.94 -0.14 -1.26 Rackspace Hosting (RAX) 11,648,218 39.79 2.55 6.85 Motorola Solutions (MSI) 11,469,962 61.02 2.13 3.62 AT&T (T) 10,711,875 35.01 -0.14 -0.40 Itau Unibanco Holding ADS (ITUB) 10,348,351 17.48 -0.56 -3.10

Nasdaq ISSUE VOLUME PRICE CHG % CHG Yahoo! (YHOO) 73,455,096 $41.81 2.22 5.61 Apple (AAPL) 45,758,373 98.36 -0.61 -0.62 Microsoft (MSFT) 45,276,044 46.47 0.56 1.22 Facebook Cl A (FB) 27,976,961 77.89 0.63 0.82 Sirius XM Holdings (SIRI) 25,314,639 3.58 -0.02 -0.42 Intel (INTC) 24,137,447 35.33 0.33 0.94 PowerShares QQQ Trust Series 1 (QQQ) 23,618,465 100.08 0.19 0.19 Micron Technology (MU) 17,343,820 33.13 0.20 0.59 Groupon (GRPN) 17,334,799 6.72 -0.10 -1.47 NII Holdings (NIHD) 17,328,298 0.17 0.06 56.64 21st Century Fox Cl A (FOXA) 13,974,548 35.88 -0.14 -0.40 Cisco Systems (CSCO) 13,699,691 24.95 -0.05 -0.20 Frontier Communications (FTR) 12,213,460 6.82 0.15 2.25 GoPro (GPRO) 12,107,438 63.52 4.77 8.12 Gilead Sciences (GILD) 11,802,879 106.53 1.17 1.11 Comcast Cl A (CMCSA) 11,755,343 55.88 0.18 0.32 Multimedia Games Holding (MGAM) 11,268,828 36.15 8.37 30.13 FireEye (FEYE) 10,302,835 33.23 1.51 4.76 RF Micro Devices (RFMD) 10,264,092 12.21 -0.10 -0.77 Staples (SPLS) 9,915,606 12.62 -0.24 -1.87 Applied Materials (AMAT) 9,651,621 22.66 -0.10 -0.42 FuelCell Energy (FCEL) 9,347,206 2.67 0.07 2.69 American Realty Capital Properties (ARCP) 9,159,081 13.25 -0.11 -0.82 Achillion Pharmaceuticals (ACHN) 9,137,333 12.75 0.58 4.77 JDS Uniphase (JDSU) 8,907,962 11.75 0.59 5.24

NYSE Arca ISSUE VOLUME PRICE CHG % CHG SPDR S&P 500 ETF Trust (SPY) 60,442,428 $200.59 -0.52 -0.26 iShares MSCI Emerging Markets ETF (EEM) 46,769,691 45.31 -0.54 -1.18 Market Vectors ETF Trust Market Vectors Gold Miners (GDX) 42,070,427 24.19 -0.88 -3.51 iShares MSCI Brazil Capped ETF (EWZ) 32,231,640 51.42 -1.74 -3.27 Select Sector SPDR-Financial (XLF) 21,650,917 23.47 0.01 0.04 Barclays Bank iPath S&P 500 VIX Short Term Futures ETN (VXX) 20,165,534 27.51 0.06 0.22 iShares Russell 2000 ETF (IWM) 19,857,916 116.56 0.18 0.15 iShares MSCI Japan ETF (EWJ) 17,402,500 11.83 -0.01 -0.08 Direxion Daily Small Cap Bear 3x Shares (TZA) 15,586,966 14.23 -0.07 -0.49 iShares MSCI EAFE ETF (EFA) 13,222,756 66.29 -0.71 -1.06 Market Vectors Junior Gold Minets ETF (GDXJ) 12,053,121 37.26 -2.04 -5.19 Select Sector SPDR-Energy (XLE) 10,867,758 95.57 -1.51 -1.56 Vanguard FTSE Emerging Markets ETF (VWO) 10,860,824 45.95 -0.54 -1.16 iShares 20+ Year Treasury Bond ETF (TLT) 9,162,337 115.78 0.05 0.04 Market Vectors Russia ETF Trust SBI (RSX) 8,908,079 25.04 -0.30 -1.18 iShares China Large-Cap ETF (FXI) 8,486,472 42.29 -0.23 -0.54 iShares U.S. Real Estate ETF (IYR) 8,328,273 74.69 -0.13 -0.17 SPDR Gold Trust (GLD) 7,349,487 120.73 -1.33 -1.09 Direxion Daily Small Cap Bull 3x Shares (TNA) 7,128,589 76.61 0.33 0.43 iShares Silver Trust (SLV) 6,764,663 18.26 -0.16 -0.87 ProShares Ultra VIX Short-Term Futures ETF (UVXY) 6,758,335 23.55 0.13 0.55 Select Sector SPDR-Utilities (XLU) 6,724,548 43.36 -0.26 -0.60 Select Sector SPDR-Technology (XLK) 6,307,576 40.35 0.06 0.15 Select Sector SPDR-Health Care (XLV) 6,042,149 64.18 0.01 0.02 SPDR S&P Oil&Gas Exploration&Production ETF (XOP) 6,030,410 75.03 -1.63 -2.13

Composite ISSUE VOLUME PRICE CHG % CHG Bank of America (BAC) 93,681,117 $16.35 0.33 2.06 Yahoo! (YHOO) 73,455,096 41.81 2.22 5.61 Petroleo Brasileiro ADS (PBR) 60,881,220 18.35 -1.03 -5.31 SPDR S&P 500 ETF Trust (SPY) 60,442,428 200.59 -0.52 -0.26 Ford Motor (F) 47,200,721 16.80 -0.34 -1.98 iShares MSCI Emerging Markets ETF (EEM) 46,769,691 45.31 -0.54 -1.18 Apple (AAPL) 45,758,373 98.36 -0.62 -0.63 Microsoft (MSFT) 45,276,044 46.47 0.56 1.22 Market Vectors ETF Trust Market Vectors Gold Miners (GDX) 42,070,427 24.19 -0.88 -3.51 Rada Electronic Industries (RADA) 37,821,262 5.97 3.45 136.90 Vale ADS (VALE) 33,523,769 12.46 -0.22 -1.74 Boston Scientific (BSX) 33,052,049 12.32 0.31 2.58 iShares MSCI Brazil Capped ETF (EWZ) 32,231,640 51.42 -1.74 -3.27 Twitter (TWTR) 30,719,743 52.00 1.30 2.56 Hertz Global Holdings (HTZ) 28,485,105 28.50 0.04 0.14 Facebook Cl A (FB) 27,976,961 77.89 0.63 0.82 Nokia ADS (NOK) 25,746,980 8.49 0.17 2.04 Sirius XM Holdings (SIRI) 25,314,639 3.58 -0.02 -0.42 Petroleo Brasileiro ADS A (PBRA) 24,297,290 19.24 -1.03 -5.08 Intel (INTC) 24,137,447 35.33 0.33 0.94 PowerShares QQQ Trust Series 1 (QQQ) 23,618,465 100.08 0.19 0.19 General Motors (GM) 21,916,470 33.24 -1.04 -3.03 Select Sector SPDR-Financial (XLF) 21,650,917 23.47 0.01 0.04 Barclays Bank iPath S&P 500 VIX Short Term Futures ETN (VXX) 20,165,534 27.51 0.06 0.22 General Electric (GE) 20,162,360 26.08 -0.02 -0.08   See All Most Actives

Footnotes Includes common, closed end funds, ETFs, ETNs and REITS x - stock is trading ex-dividend Source: WSJ Market Data Group