Great Wall of China

Ropui lutuk

Objections to the termEdit

There have been disputes about the use of the term for some decades, particularly in the legal and banking sectors. The term can be seen both as culturally insensitive, and an inappropriate reflection on Chinese culture and trade, which is now extensively integrated into the global market. In Peat, Marwick, Mitchell & Co. v. Superior Court(1988), Presiding Justice Harry W. Low, a Chinese American,[2] wrote a concurring opinionspecifically in order "to express my profound objection to the use of this phrase in this context". He called the term a "piece of legal flotsam which should be emphatically abandoned", and suggested "ethics wall" as a more suitable alternative. He maintained that the "continued use of the term would be insensitive to the ethnic identity of the many persons of Chinese descent".[3][4]

Alternative phrases include "screen",[5] "firewall", "cone of silence", and "ethical wall". "Screen" or the verb "to screen" is the preferred term of the American Bar Association Model Rules of Professional Conduct.[6][7][8][9]

Usage in specific industriesEdit

FinanceEdit

A Chinese wall is most commonly employed in investment banks, between the corporate-advisory area and the brokering department in order to separate those giving corporate advice on takeovers from those advising clients about buying shares.[1] The "wall" is thrown up to prevent leaks of corporate inside information, which could influence the advice given to clients making investments, and allow staff to take advantage of facts that are not yet known to the general public.[10][11]

The phrase "already over the wall" is used by equity research personnel to refer to rank-and-file personnel who operate without the Chinese wall at all times. Examples include members of the Chinese wall department, most compliance personnel, attorneys and certain NYSE-licensed analysts. The term "over the wall" is used when an employee who is not normally privy to wall-guarded information somehow obtains sensitive information. Breaches considered semi-accidental were typically not met with punitive action during the heyday of the "dot-com" era. These and other instances involving conflicts of interest were rampant during this era. A major scandal was exposed when it was discovered that research analysts were encouraged to blatantly publish dishonest positive analyses on companies in which they, or related parties, owned shares, or on companies that depended on the investment banking departments of the same research firms. The U.S. government has since passed laws strengthening the Chinese wall such as Title V of the Sarbanes-Oxley Act in order to prevent such conflicts of interest.

Chinese walls are also used in the corporate finance departments of the "Big Four" and other large accountancy and financial services firms. They are designed to insulate sensitive documentation from the wider firm in order to prevent conflicts.

JournalismEdit

The term is used in journalism to describe the separation between the editorial and advertisingarms. The Chinese wall is regarded as breached for "advertorial" projects.

InsuranceEdit

The term is used in property and casualty insurance to describe the separation of claim handling where both parties to a claim (e.g. an airport and an airline) have insurance policies with the same insurer. The claim handling process needs to be segregated within the organisation to avoid a conflict of interest.

This also occurs when there is an unidentified or uninsured motorist involved in an auto collision. In this case, two loss adjusters will take on the claim – one representing the insured party and another representing the uninsured or unidentified motorist. While they both represent the same policy, they both must investigate and negotiate to determine fault and what if anything is covered under the policy. In this case, a Chinese wall is erected between the two adjusters.

beautyful

I wish to see chains wall

Made for protection from the Turks

gread wall is musley beautifull

WOW!!

2019 27 Wednesday 17:28

I knew it was October, cleanest air period for Beijing and Wall.

Chainanaaaaaaa🤣🤣🤣🤣🤣

beutifull place