bluuebunny/crossref_metadata_2025 huggingface dataset:
The cost of financial capital: Evidence from selected Caribbean countries
Authors: Augustine Carlton , Beck Stacie
Published: February 2008

Does a strong commitment to an exchange rate peg reduce the cost of financial capital to less developed countries? We use a sample of twelve Caribbean countries to examine the impact that the Eastern Caribbean Currency Union (ECCU), a currency board/monetary union, has in lowering the cost of borrowing to its members. Results from estimations on individual and pooled annual data from 1976–1999 indicate that membership in the ECCU, in addition to other policy variables, significantly reduces the cost of financial capital.
Challenges of sustainable development under globalisation
Authors: Sachs Jeffrey D.
Published: February 2008

The paper asks a basic question: Is there any room for more growth on the globalising world that takes into account the budget constraints of ecosystems and the planet's scarce resources? Economists tend to be very complacent about sustainability issues on the planet because they have been a problem throughout human history. Yet technological change has always solved these problems. There is an element of truth to that, but there is probably a greater element of falsehood to it now. The element of truth is that, with sufficient science, we are able to make lots of progress in many areas; but the element of falsehood is that solving the problems of sustainability will become increasingly difficult.
Irrigation management transfer in Lao PDR: Issues and prospects
Authors: Jusi Sari , Virtanen Maarit
Published: February 2008

Water resources development plays a central role in reducing poverty and achieving sustainable economic growth in Laos. The development of irrigation is vital for the rural population dependent on agricultural production, but irrigation projects have suffered from low levels of maintenance, as farmers have felt little ownership for the government projects. At the moment, a process of Irrigation Management Transfer (IMT) is undertaken in Laos with the aim of transferring the management and operation of schemes to farmers. This article aims at evaluating, how IMT has been implemented in Laos and how it is affecting the sustainability of agriculture.
Rising inequality in the new global economy
Authors: Birdsall Nancy
Published: February 2008

The world is not ‘flat’. Globalization is disequalizing, rewarding the already rich while leaving the poor behind, making rising inequality more, not less likely. There are three reasons. First, the economic gains generated by efficient global markets are not equally shared. Second, global markets are imperfect and many developing countries do not have mechanisms for insuring (poor) people against market failures. Third, trade, migration, and intellectual property regimes at the global level naturally reflect the greater market power of the rich. To mitigate the asymmetric impacts of globalization we need a global polity that can address unequal endowments, whether in the form of lack of educational opportunities or weak institutions.
The impact of ethnic diversity on growth: the regional differences
Authors: Yang Benhua
Published: February 2008

Using a sample of 86 countries over the 1960–1999 period, this paper investigates the differential growth effects of ethnic division across cultural regions. While the evidence supports a negative relationship between ethnic fragmentation and economic growth, this relationship is significant only for Africa and Latin America. This study also uses a religious measure of ethnic fragmentation, and finds that religious diversity has a positive impact on growth. This impact, however, is present only in the Middle East and East Asia. Some possible reasons behind the heterogeneous effects of ethnic diversity are also explored.
Criteria for assessing sustainable energy technology for rural Bangladesh
Authors: Ali Ershad
Published: February 2008

This paper examines, based on certain criteria, the most feasible sustainable energy technology (SET) for rural Bangladesh. The criteria used for the appropriateness of SET for rural Bangladesh are: (a) availability of energy resources, (b) degree of technological complexity of the proposed technology, (c) cost effectiveness, (d) balance between supply of and demand for energy, (e) contribution of the particular energy technology to reducing greenhouse gas emission, and (f) major constraints associated with accepting the recommended technology. The paper describes the theoretical part of the author's Ph.D. thesis where fundamental work has been done. The study applies the criteria to three main energy technologies‐ biomass, solar and wind‐ and finds that none of these technologies are suitable on their own. However, among the three proposed energy technologies, biomass might be the best possible option which can make a positive contribution to alleviate energy poverty in rural Bangladesh. Findings of this study are useful for development policy makers and researchers.
Debt bondage in the brokerage system: a case study of sugarcane migrants in Tamil Nadu
Authors: Bhukuth Augendra
Published: February 2008

In this paper, we deal with one form of bonded labour generating under the brokerage system. We have led a qualitative survey in a small village of South India to study the phenomenon of brokerage. In this village, labourers are seasonal migrants who in order to migrate, take advance from brokers. The village is characterised by a high number of brokers who are in competition to attract labourers to their team. In this environment, labourers have the bargaining power to demand high amount of advance. Therefore, brokers bond them in order to reduce their bargaining power and to avoid competition.
Structural and institutional factors that influence the export decision
Authors: Moore Winston
Published: February 2008

This study attempts to identify the key structural and institutional factors that influence the decision to export using a database of 8,047 firms in manufacturing, services and agricultural activity and in 81 countries. A Probit model of the export decision is estimated for the full sample of firms and for sub‐samples of firms in various country groupings. The study's results indicate that size, age, previous export experience, ownership status, the provision of subsidies and market competition are the most important determinants of the export decision.
Achieving grassroots transformation in post‐apartheid South Africa
Authors: Bek David , Binns Tony , Nel Etienne , Ellison Brett
Published: February 2008

Ten years after the demise of apartheid, South Africa still faces significant development challenges. Government policy has focused mainly upon the macro‐economy, which has not necessarily helped address the plight of marginalized communities. One parallel mechanism designed to empower communities has been through the encouragement of Local Economic Development (LED). However, local government action has been prioritised and other role‐players marginalized, thus reducing the overall effectiveness of such interventions. This paper examines three cases of successful LED in the Western Cape province which have not been directed by local government. In all cases there have been clear socio‐economic dividends. The paper critically examines factors which have contributed to the success of these development initiatives.
Broker‐Dealer Supervision of Electronic Communications
Authors: SCHECHTER LOREN , STERN MICHAEL
Published: February 2008

In light of the sea change brought about by advancing technology in the way broker‐dealers communicate with clients, this article is a timely discussion of the current federal and self‐regulatory organization (SRO) requirements for a broker‐dealer's supervision of its employees' electronic business communications. Forms of communication, and the regulatory guidelines covering them, include e‐mail, off‐premises messages, group email, web site content, hyperlinks to other home pages, and chat rooms.
Recent Developments in the Regulation of Clearing Brokers
Authors: MINNEROP HENRY F.
Published: February 2008

A spate of micro‐cap stock fraud cases in the 1990s has led the SEC to focus on the conduct of clearing brokers whose introducing firms acted as underwriters or market makers of new small‐cap issues. This article outlines the SEC's regulatory and enforcement guidelines regarding the clearing brokers, and shows that the agency's position encourages the continued growth of clearing arrangements while giving it flexibility to sanction clearing firms in appropriate cases.
Written Supervisory Procedures: Friend or Foe?
Authors: LAVELL JOAN L.
Published: February 2008

This article offers a practical approach to demonstrating the pitfalls of broker‐dealers not preparing written supervisory procedures. By showing examples of legal complications that can arise, as well as outlining the current regulatory directives in favor of written procedures, the author emphasizes that written supervisory procedures cannot be treated lightly or as a back‐burner issue.
The Consequences of Investment Adviser Registration with the SEC
Authors: O'MALLEY TERRANCE
Published: February 2008

This article takes a close look at the requirements of the 1940 Investment Advisors Act for both registered and unregistered investment advisors — such as hedge funds and private equity funds. It highlights the significant issues that arise from the regulation for unregistered funds that are considering the consequences of SEC registration. It also reviews briefly the requirements of the Act that are already applicable to unregistered investment advisors.
An Analysis of Supervision Cases Involving Outside Business Activities
Authors: ROMANO ROBERT M.
Published: February 2008

Supervising an employee even under ordinary circumstances is no easy task. What happens when some or all of an employee's activities occur outside the firm? This article explores several recent enforcement cases in which a manager or firm has been held responsible (or at least criticized) for failing to supervise a broker where the conduct in question took place outside the firm. It also suggests the minimum procedures that supervisors should follow in such cases.
The SEC's Privacy Rule
Authors: BECKER BRANDON , LEE YOON‐YOUNG , HARRIS FRANCA
Published: February 2008

This article gives an in‐depth examination of the Securities and Exchange Commission's new Regulation S‐P. This rule implements the privacy requirements of last year's financial modernization legislation, better known as the Gramm‐Leach‐Bliley Financial Services Modernization Act. That legislation contains a Title designed to protect the financial privacy of consumers. Regulation S‐P is the SEC's Implementation of that provision. The authors walk the reader through this regulation and its application in some detail. You cannot practice in this industry without a familiarity of Regulation S‐P. This article will take you very far along that path.
How Safe Is the Bank Secrecy Act Safe Harbor?
Authors: SANTANGELO BETTY , O'NEAL LORAH TIM
Published: February 2008

The blurring of the lines between banks, insurance companies and broker‐dealers continues. As we go to press, yet another merger has been announced. The application of the Anti‐Money Laundering Act of 1992 to the securities industry becomes more and more obvious. This article explores the act with particular attention to the safe harbor, which exists to encourage banks (financial institutions) to report suspicious activity while hopefully falling under the protection of the Act, so as not to be exposed to civil liability.
A Primer on the Perils and Pitfalls of Referral Arrangements
Authors: RATH GERALD F. , HANSEN STEVEN W.
Published: February 2008

The Securities and Exchange Committee has, in the recent past and continues, to pay particular attention to referral arrangements. The rules concerning the appropriate types of referrals are complex and need to be examined and understood before entering such arrangements. This article explores those rules and also reviews the recent proceedings brought by the SEC. As such the article is a very handy reference when examining such arrangements.
Federal Validation of the Digital Dotted Line: The Electronic Signatures in Global and National Commerce Act
Authors: TRICARICA JAMES A. , WINER STEPHEN I.
Published: February 2008

The advent of the e‐commerce age has cried out for uniform rules to govern commercial transactions. The securities industry has obviously been on the front line of this change. The electronic signatures in the Global and National Commerce act is a step in the direction of commercial uniformity. This article examines the act and discusses its potential applications while pointing out certain questions that remain open.
How to Regulate Global Markets
Authors: SIBEARS DANIEL M.
Published: February 2008

The future of self‐regulation in the securities industry is one of the most hotly debated topics around today. In a speech given in May at the International Organization of Securities Commissioners (IOSCO) in Sydney Australia, the author, a senior vice president of the NASDR explains his view of where self‐regulation is going. Also, he shares with the audience, and now our readers, the basis for his hypothesis. Students of the industry, particularly compliance and legal professionals, should find the presentation fascinating.
Regulation FD from the Perspective of the Market Analyst
Authors: DeMuro David , Schneider Howard , Cohen Edward H.
Published: February 2008

With all of the noise surrounding the promulgation of Regulation FD, It will be the subject of many articles and much analysis. This piece gives a background view of the origins of the rule. It also goes into the specifics of the rule. Who is covered, as well as exploring its insider trading implications.
Trends in Failure to Supervise Cases: Responding to Red Flags
Authors: Weiss Harry J. , Zimmerman Jolie F.
Published: February 2008

Supervision remains a significant issue in our regulatory framework. The cases surrounding this concept are ongoing and the law evolving. This article explores the newer “red flag” supervision cases; discussing the implications and the duties that perhaps attach as a result of this developing case law. It also explores some concrete examples of what supervisors should do when confronted with relevant information.
Independent Contractor Broker‐Dealers: Reflections on Supervision
Authors: Brunton Robert G. , Wolensky Michael K.
Published: February 2008

Independent contractor broker dealers have been described as “one of the regulatory black holes.” This article seeks to identify common problems and issues relating to the supervision of independent contractor registered representatives that warrant further scrutiny under Section 15 of the Securities Exchange Act of 1934 (Exchange Act) and National Association of Securities Dealers (“NASD”) Conduct Rule 3010.
NEW FORM ADV AND THE IARD: HOW WILL THE CHANGES AFFECT YOU?
Authors: Berg David B.
Published: February 2008

Beginning in January 2001, investment advisers registered with the Securities and Exchange Commission (“SEC”) will begin filing their registration forms electronically through the new Investment Adviser Registration Depository (IARD). The IARD is a Web‐based filing system operated by NASD Regulation (the NASD‐R), that will enable advisers and their representatives to submit their filings with the SEC and state regulators electronically similar to the current method used by broker‐dealers to submit filings on the Web CRDSM system. Other significant aspects of the new system include the ability for investors to search the IARD database to get current information about advisers, including the services they provide, fees they charge, their conflicts of interest, and disciplinary history. To finance the development and operation of the IARD, advisers will now be required to pay initial and annual filing fees to the NASD‐R.
NASD Proposes Changes to Rule 2710 on Treating Securities as Underwriting Compensation
Authors: Hensley Dennis C.
Published: February 2008

The NASD has had a rule in place governing underwriting compensation, but with the expanded pace and types of services available, defining what falls into this category has proven problematic. Thus the NASD has proposed a new rule, the roots of which are discussed in this article. Also this proposed Rule 2710 is compared and contrasted with the old rule. There is also a very thorough discussion of safe harbors that might be relied on.
SEC Adopts New Insider Trading Rules and Protection for Prearranged Trades
Authors: Sturc John H. , Mueller Ronald O. , Goodman Amy L. , McPhee Gillian
Published: February 2008

This article delves into the new rules concerning insider trading and protection for prearranged trades, which were adopted at the same time Regulation FD was adopted. This starts with the basics of 10 b‐5 insider trading and then it moves into the specifics and the application of the new rules. This is also a discussion of affirmative defenses available for trading plan.
A New Millennium, A New Regulator? The Financial Services Authority's Approach
Authors: ANDERSON KAREN , BATES CHRIS , STAPLE GEORGE
Published: February 2008

A “complete” overhaul of the financial services industry in the United Kingdom has changed the landscape considerably. The authors have outlined some of the events that prompted the change. They take you along a road map of the new structure exploring the breadth and scope of the Financial Services Authority (FSA).
Statutory Exceptions and Defenses: What Protection Is Available?
Authors: HERBST JONATHAN , McCAW KATIE
Published: February 2008

In 2000 the U.K. introduced the Financial Services and Markets Act. Under this Act, a code containing “guidelines” on “market abuse” was issued. The authors provide an in‐depth examination of “market abuse” and the defenses available under the code.
PRICING AND VALUATION OF REGISTERED INVESTMENT COMPANY PORTFOLIO SECURITIES
Authors: VONEIFF CHIP , EVANGELISTA TONY
Published: February 2008

The daily valuation of portfolio securities can be one of the most onerous aspects of managing a registered investment company or mutual fund. The developing complexity of securities combined with the increasing influence of foreign markets and nonexchange‐traded holdings have made the accurate pricing of securities difficult at best. Mutual funds typically rely on a myriad of sources to price their portfolio holdings, including domestic pricing services, broker‐dealers, foreign custodians or pricing agents, matrix pricing, fair value committees, or any combination thereof (see Exhibit). While the pricing function is typically delegated, fund management and the board of directors or trustees have the ultimate responsibility to ensure that appropriate pricing procedures and supervisory activities are in place.
Custody of Client Assets under Rule 206(4)‐2 of the Investment Advisers Act
Authors: CARROLL BRIAN
Published: February 2008

The author, both an attorney and CPA, explores the complex and perhaps out‐of‐date Advisors Act Rule 206(4)‐2, the Custody Rule. He explores the rule and the obligations and concerns that arise when an investment advisor is deemed to have custody.
Working Through Recent Developments in Securities Arbitration: A Guidebook
Authors: FEIGHNER ROBERT D. , ROSS TERRY , FRON MICHELE R.
Published: February 2008

This article explores both procedural and substantive aspects of Securities Arbitration. Covering recent rule changes, the authors provide the practitioner with a guide for handling problems that may arise while thoroughly reviewing many aspects of arbitration practice. It is an examination of how procedure impacts substance.
A Broker's Disclosure of Payments for Money Market Sweeps: The Second Circuit Defers to the SEC
Authors: CAREY DAVID L.
Published: February 2008

The author examines a recent decision from the United States Court of Appeals for the Second Circuit, Press v. Quick & Reilly. It examines the claims made with regard to “sweeps” into money market accounts discussing both the SEC's and the court's discussion of disclosure requirements.
Gramm‐Leach‐Bliley Review: Has the Promise of Less Regulation Led to More Rules?
Authors: Sorcher Alan E.
Published: February 2008

An overview of the Act and the implementing regulations—with most of the focus on the regulations and how they affect the securities industry, along with a review of its effect on many different types of financial institutions.
SEC PROVIDES GUIDANCE ON INVESTMENT COMPANY PORTFOLIO VALUATION
Authors: Friend Lawrence A. , Evangelista Anthony S.
Published: February 2008

In a much anticipated letter to the Investment Company Institute (ICI) the Securities and Exchange Commission (SEC) on April 30, 2001, set out its position on certain portfolio valuation matters applicable to all registered investment companies. The letter, issued by Douglas Scheidt, Associate Director and Chief Counsel of the Division of Investment Management, follows the same tone and tenor of a similar letter to the ICI dated December 8, 1999, which also addressed investment company portfolio valuation (with specific emphasis on board responsibilities and oversight).
Accounts Owned by Foreign Officials: Automatic Red Flags?
Authors: Meister David
Published: February 2008

A topical examination of the risks undertaken by United States financial institutions who undertake to carry accounts for foreign officials; with some helpful direction on detecting red flags when carrying these accounts.
Privacy Regulation in the United States and in Europe: Can a Firm Comply with Both?
Authors: Swift Thomas F. , Hensley Dennis C.
Published: February 2008

The author provides an examination and a comparison of the New Privacy rules under Regulation S‐P here in the United States with differing and conflicting rules in member states of the European Union
Money Laundering: It's on the SEC's Radar Screen
Authors: RICHARDS LORI A.
Published: February 2008

The author, Director of the Office of Compliance Inspections and Examinations at the SEC, talks about how the anti‐money laundering laws apply to securities firms while also discussing a new examinations initiative that the SEC, NYSE, and NASD are undertaking to focus the industry's attention on compliance programs that detect and prevent money laundering.
Best Execution: A Look at Rule 11Ac1–5 Compliance and Competitive Analysis
Authors: SHAPIRO ALAN
Published: February 2008

Here you will find practical analysis of the rule and how it will work in the real world. It has a particular application to compliance officers who are charged with that responsibility to see to it that the rule is properly implemented and enforced. There is also some forward looking analysis of what problems or questions the new rule may bring.
VALUATION OF PORTFOLIO SECURITIES: PRACTICES AND PROCEDURES
Authors: EVANGELISTA ANTHONY S. , SORADY MARYBETH
Published: February 2008

Valuation of portfolio securities continues to hold the limelight in the arena of mutual fund regulation. For the last four years, mutual fund regulators have repeatedly emphasized the need to adopt or revise procedures to address valuation issues that address modern market conditions resulting from such forces as globalization and the development of derivatives and other exotic securities.
Recent Developments in Selection of Lead Counsel and Plaintiff under the Private Securities Litigation Reform Act
Authors: SCHECHTER LOREN , BUTTON CHRISTINE
Published: February 2008

There have been some recent and definitive developments in the selection of lead counsel and plaintiffs in class actions under the Private Securities Litigation Reform Act. The authors track the trends and report the developments.
Arbitration of Employment Claims in the Securities Industry: Benefits and Burdens
Authors: WOLF NEIL G. , BRAMNIK ROBERT P.
Published: February 2008

The debate over pre‐dispute arbitration agreements for employment cases continues, despite the recent ruling from the Supreme Court. This article looks at this issue with a particular view towards the securities industry. It discusses several factors that employers should weigh when deciding how to proceed.
Insurance Facts Businesses Should Know in the Wake of September 11
Authors: ANDERSON ROBERTA D.
Published: February 2008

An overview of the economic challenges impacting businesses in the aftermath of September 11. What is the insurance coverage for property damage, dislocation of operation, and businesses interruption?
Employment Law Update on Select Topics
Authors: WALLACH ERIC J. , NICODEMUS CAMILLE R.
Published: February 2008

This is a survey of pertinent topics involving employment law issues in the securities industry. The topics include employment agreement (restrictive covenants, enforcement, etc.) issues with registered representatives, and reductions in force (RIFs).
NYSE Rule 382: Current Trends in the Law
Authors: FRANKO THOMAS A. , RATNER STEPHEN L. , HALL CAROLINE K.
Published: February 2008

Rule 382 of the New York Stock Exchange for many years has governed the relationship between clearing and introducing brokers with a focus on responsibility to the client. This article surveys the subtle and not so subtle changes impacting these relationships, with a view toward future trends.
New SEC Interpretation of Section 28(e) for Soft Dollars
Authors: BLANC ROGER D.
Published: February 2008

This is an analysis of the December 2001 interpretive release concerning the soft‐dollar “safe harbor” under 28(e) of the Securities Exchange Act of 1934. The article examines the interpretation as it applies to asset managers in connection with the allocation of brokerage on a “soft dollar” basis.
The Basics of Software Licensing
Authors: BENNETT MICHAEL P. , KOSC JEFFREY
Published: February 2008

This is a primer on software licensing, which is a pressing issue for industry practitioners who are confronted with many agreements involving trading systems. This article deals with the practical “how‐tos” for licensing as well as with certain intellectual property concerns.
Mutual Fund Complexes: Entering the Private Investment Fund Arena
Authors: AYERS THOMAS A. , BYRNES ERIC
Published: February 2008

This article examines the recent phenomenon of investment advisors' and mutual fund complexes' creation of alternative investment products such as private investment funds. It explores the reasons behind the popularity of these investment vehicles.
Soft Dollar Basics: Responses to Frequently Asked Questions
Authors: BUTOWSKY MICHAEL R.
Published: February 2008

This is targeted at the “soft dollar” industry. It explores to difficult “dos” and “don'ts” of compliance policies and procedures. It is a practical “Q&A” discussion of the many gray areas of legal compliance.
Environmental Effects of Fumes Created During Soldering
Authors: Rubin Wallace
Published: February 2008

The application of the Health & Safety at Work Act is discussed in relation to solder and flux fumes arising during soldering processes. Comparisons between fumes from different types of resins indicate the variations of particle sizes of the particulates in fumes, and of the effect of temperature on rates of decomposition. Vapour phase soldering also leads to potential health risks. Precautions and interpretation of legislation are discussed.
The Ultimate in Automatic Inspection
Authors: Vanzetti Riccardo , Traub Alan C. , Supino Laura
Published: February 2008

In mass‐production of PCBs, visual inspection of soldered joints has probably been the last major operation still performed manually. A system has been designed to ensure that the accept/reject threshold is firmly held at a pre‐set level, to detect defects on or under the surface, to identify these defects by type, severity and precise location and to carry out the inspection at high speeds with full automation. The system's operation is based on a laser firing a pulse of radiation onto a solder joint, an infra‐red detector monitoring joint temperature changes, a programmable XY table, a computer storing the thermal signatures of acceptable and rejectable joints and a device for programming, displaying and recording all necessary data. Enhanced reliability and cost savings are possible with this automated process of inspection.
The Japanese PCB Industry
Authors: Pearne N.K.
Published: February 2008

The Japanese PCB industry is in many ways comparable with the industry in the UK and yet is achieving higher levels of output and taking a somewhat different route in technology. This paper examines the structure of the industry in terms of company size and number, looks at the level and nature of investment and goes on to examine technologies being used and results being achieved.
The Business of Thick Film Hybrids
Authors: Sage M.G.
Published: February 2008

This paper looks at the development of thick film hybrids and their relative position in the markets of the USA, Japan and Western Europe. Industry structure and the importance of in‐house manufacturing and development are discussed, together with future technical trends. Hybrids are viewed as one of a growing number of interconnection technologies available to the OEM, and no easing of substitution pressures is forecast. However, opportunities will continue to exist for this important technology, providing suppliers position themselves carefully in the market.
Environmental Considerations when Selecting a Dry Film Imaging Process
Authors: Liebsch W.
Published: February 2008

Like many other industries, the PCB industry must take precautions to minimise the degree of pollution it creates both in the working area and in the outside environment. The dry film imaging system used (solvent or aqueous) dictates the type of pollution and allied legislation on maximum permissible pollution limits. Methods of treatment of aqueous solutions have been widely investigated in an effort to provide installations designed to suit customers' specific requirements.
Metal Cored Printed Circuit Boards
Authors: Shemilt H.R.
Published: February 2008

Close spacing of conductors, surface mounted components and a multiplicity of DIPs have rendered the use of heat sinks on the PC board surface more and more hazardous. Where exposure to extreme temperatures is likely, the bond of heat sinks to the board has failed in 8% of cases during a recent investigation. Using the techniques described in this paper, any company with a multilayer manufacturing capability can produce a printed circuit board with good thermal conductivity and expansion characteristics related to most component mounting devices.
Automatic Test Equipment: Its Role in Improving PCB Manufacture
Authors: Davis B.
Published: February 2008

Automatic Test Equipment (ATE) for both bare and loaded‐board testing has been in widespread use for some 14 years. During this time there have been a number of technological advances which have made these systems more efficient, easier to use, and more able to test complex circuits. In this period, however, the fundamental role of ATE has not changed. This role has been the detection and location of defects on the PCB, and the ATE is therefore monitoring or measuring the quality of the product. In the past year (1982/83) some new developments have taken place that have changed the fundamental role of ATE from defect detention to defect prevention. Information created by the ATE can now be utilised to determine the source of defects and correct the problem. The resulting lower number of defects increases the yield of good boards, reduces the amount of re‐work needed, increases the productivity of the PCB manufacturing area, and improves the quality of the end product. This move from ‘detection’ to ‘prevention’ turns the ATE into a ‘quality management’ device rather than simply a ‘quality monitoring’ device. This paper describes how such a quality management system operates, and the benefits to be derived from it.
Manufacture of a Multilayer Polyimide PCB Containing Integral Copper/Invar Composite Planes for Thermal Expansion Control
Authors: Taylor K.
Published: February 2008

The thermal mismatch between leadless ceramic chip carriers and conventional PCB materials can be obviated by using integral planes of a low TCE material to constrain the thermal expansion. Using a Copper/Invar/Copper composite for ground and voltage planes, a six‐layer polyimide circuit has been manufactured which closely matches the expansion of the alumina substrates used for chip carriers. The processing techniques used in the manufacture of this circuit are described with particular reference to lamination, hole preparation and the integration of the Invar composite layers into the multilayer structure. Processing of Invar containing structures poses certain problems due to the inherent properties of the alloy which render conventional PCB techniques such as NC routing difficult to utilise. The use of alternative techniques to process Invar composites is described.
Laser Direct Photoplotting Without Aperture Wheels
Authors: Sugasawara S.
Published: February 2008

EOCOM, a part of the Gerber Scientific Instrument Company , is the pacesetter with direct imaging systems for printed circuit boards. The LDI™—1500 is its most recent laser‐orientated system, expected to reduce significantly the time taken for PCBs to reach the marketplace. This system eliminates the requirement for film and contact processes by imaging the pattern directly onto the photoresist. Completely accurate images are generated.
Some Practical Observations on the Processes Involved in Surface Mounted Technology
Authors: Snow A.C.
Published: February 2008

This paper aims to highlight some of the problems encountered by potential designers, purchasers and users of Surface Mounted Technology and to offer some insight into the factors that require to be considered in the application of vapour phase reflow to this technology.
Providing Solderability Retention by means of Chemical Inhibitors
Authors: Bakszt M.
Published: February 2008

Protective cover coating of bare copper boards is necessary to resist long‐term storage. Both water‐soluble and rosin‐based fluxes are used in the evaluation. The inhibitors have been practically tested on coupons which were soldered after accelerated ageing tests. All investigations were carried out with respect to the impact on waste treatment, and the adjustment to various fluxes.
Reflections on My Life as an Inventor
Authors: Eisler P.
Published: February 2008

An abridged version of the previously unpublished writings of Paul Eisler, universally acknowledged as the inventor of the printed circuit board and many other technical innovations, is being presented in Circuit World in three parts. The content of the extracts concentrates mainly on Dr Eisler's efforts in the field of printed circuit technology, followed by a few details of some of his other areas of invention.
Printed Hybrid Technology
Authors: Hamilton P.G.B.
Published: February 2008

The printed Hybrid Technology currently employed by ICL in their volume production of printed circuits is outlined. Details are given of the various problems eliminated by the use of this technology, as well as of the advantages to be gained.
The Future of Electronics in Europe
Authors: Donnelly T.
Published: February 2008

The paper reviews major changes in technology, integrated circuit packaging, materials and surface mounting techniques, and assesses their impact on the printed circuit board industry. It identifies major forces and examines interconnection technologies such as thick film and new techniques for providing interconnections of ICs as related to the technology in Europe.
Controlling the Quality of Soldering of PTH Solder Joints
Authors: Lea C. , Howie F.H.
Published: February 2008

The efficiency of assembly of electronic components into PCBs relies on a large number of materials and processes being carefully specified and controlled. Improved production routes for PCBs and new soldering techniques frequently appear and yet, 40 years after the first PCBs and nearly 30 years since the advent of wave soldering, the perennial problems have not been eliminated and the industry is still beset with trial and error adjustments of process parameters. Scientific research at NPL has progressed towards an understanding of the basic causes of the 2 main problems of PCB soldering: outgassing and lack of solderability. Applying the scientific method, in direct collaboration with production line technology, the mechanisms of outgassing are now understood and test procedures for materials specifications are being developed. The work is at a stage where the PCB industry is heavily involved with controlled monitoring of the various stages of through‐hole‐plating and inter‐company round‐robin tests are in progress in order to confirm the transferability of laboratory tests to the industrial production line.
Ageing, Solder Thickness and Solder Alloy Effects on Circuit Board Solderability
Authors: Hagge J.K. , Davis G.J.
Published: February 2008

The paper presents the results of extensive studies on circuit board solderability comparing wetting balance and IPC test methods through performance in vapour phase and wave soldering operations. The effects on solderability of key parameters are examined and compared with storage times of one year, and accelerated ageing using damp heat, dry heat and steam oxygen. An evaluation is made of tin‐lead alloys from 40/60 to 70/30 in solder coating thicknesses from 0·1 to 1·0 mil.
Filmwork Generation
Authors: Scarlett J.A.
Published: February 2008

Quality of the film set used for PCB manufacture and care in handling are of vital importance. Reference is made to the need for proper nomenclature and the stability, size and registration requirements. Production PCB films can be generated by reduction from oversize master artworks, or directly at one to one scale on a photo‐plotter. Plotted films; cut and strip master films; manual artwork; two colour artwork; single pad, multiple track sheet artworks; and hybrid artworks are discussed. Special attention is given to planes and solder resist films, photo‐reduction, phototools and film processing.
Future Trends of Electronics in Asia
Authors: Nakahara H.
Published: February 2008

This paper discusses the future trends of electronic interconnections to produce electronic equipment being manufactured in the Far East. Reviewed are details of simplistic circuits, as well as relatively complex multilayer boards used in new computer technology. The size of the market, techniques for component assembly, and various other aspects of the approach to electronic packaging are discussed.
Accelerated Life Testing of Small‐Geometry Printed Circuit Boards
Authors: Sutherland R.R. , Videlo I.D.E.
Published: February 2008

The accelerated life test methods used by British Telecom to demonstrate the probability of 20 year life of electronic components in non‐hermetic packages have now been applied to small geometry printed circuit boards from four different manufacturers. The reliability hazards found included the migration of copper from conductor tracks through one dry‐film solder resist, and the delamination of a second from the board. Wet‐film solder resists caused comparatively minor problems. Migration of lead and tin across the exposed surface of a board between solder pads was also observed, probably due to inadequate cleaning.
Mechanical Modelling for Printed Circuit Boards
Authors: Chen W.T. , Lee L.C. , Lim C.K. , Seraphim D.P.
Published: February 2008

The fundamental considerations and mechanical integrity of printed circuit boards are reviewed, and mechanical analysis and modelling techniques provided. Fine line element techniques are utilised to model temperature distribution, thermally induced loading and moisture diffusion. Experimental testing techniques are used to make reliability assessment and to optimise material and processing developments.
The Limitations of High Speed, High Density PWB Substrates
Authors: Curtis J.C. , Lodge K.J. , Pedder D.J.
Published: February 2008

This paper looks at the implications of increases in system speed and density for the interconnection system, noting particularly the increased requirements placed on the substrate and tracking system. It reviews the properties required of substrates and the limitations derived from the materials used and the processes needed to put tracks on them. Those areas where these requirements are in conflict are highlighted, including such low technology problems as the limited size availability of substrate prepregs which may limit the tracking density achievable on the newer, more advanced low dielectric materials. Some limitations and trade‐offs are identified.
Applications of Polymer Thick Film Inks in Surface Mount Technology
Authors: Fearns D.J.
Published: February 2008

The properties and constituents of PTF inks are outlined. Surface resistivity in relation to PTF inks is defined. Applications of PTF inks are discussed with emphasis on potential design and cost benefits for SMT applications, including crossovers, polymer multilayer, printing through holes, printed resistors, carbon key pads, moulded and three‐dimensional circuits.
Metallographic Examination of Soldered Joints
Authors: Steen H.A.H.
Published: February 2008

Metallographic sections are an indispensable tool in the assessment and failure analysis of solder joints, as surface appearance is an unreliable guide to their internal state. This paper outlines methods for the preparation of sections through solder joints, and gives some guidelines for their interpretation. Finally, some typical features and defects are discussed.
Laminating Flexible and Flexi‐rigid Circuit Boards in the Isostatic Gas‐pressure Vacuum Press
Authors: Stein W.
Published: February 2008

Description of the vacuum press process with comparisons made between the isostatic gas pressure and hydraulic press technologies: advantages of the former: materials for flexible and flexi‐rigid circuit production in the vacuum press.
Board Repair—The Economic Answer
Authors: Willis R.
Published: February 2008

The electronics industry is now expanding at a considerable rate, but not so the board geometry. Track sizes are generally still at 0·010 in. but even this size puts considerable strain on the repair operations. The move to surface mount technology also has the effect of reducing track sizes. The quality of repair which may be produced by conventional methods can not rival the visual quality which may be obtained by parallel gap welding. This paper will examine in a practical way the process and methods which can be employed to save valuable material.
Restrictions on the Use of Chlorofluorocarbons for Cleaning Soldered PCBs
Authors: Lea C.
Published: February 2008

The flux residues on almost all soldered printed circuit boards are removed using the chlorofluorocarbon (CFC) 113. In just one year's time production of this solvent will almost certainly be curtailed, on a scale agreed internationally. This is a major issue that needs to be addressed urgently by the electronics assembly industry worldwide. This paper presents (i) the background that has led to the restrictions being placed on production and consumption of solvent 113, (ii) the international agreement and timetable for the implementation of the restrictions and (iii) the perceived opportunities that are available to the electronics assembly industry to meet this challenge.
Designing Electronics for Automated Inspection
Authors: Thompson D. , Stroebel T.
Published: February 2008

Electronic packaging technologies, such as pin grid arrays, increasingly small pitch surface mount, and double‐sided assemblies are all aimed towards the highest possible product density, with improved performance. The gap between inspection effectiveness and advances made in packaging technologies is becoming larger. As efforts proceed, to learn more about critical factors influencing reliability of solder joints, it is prudent to ensure that printed wiring assembly (PWA) design rules evolve to permit the broadest range of anticipated automated inspection requirements. The range of automated inspection technologies can all be made more effective through careful design of electronics for inspection. Significant opportunities lie in both PWA layout and design, as well as electronic component design, tolerancing, and standardisation. Many inspection issues are shared, but with increased recognition of digital radiography's unique capabilities; this discussion will emphasise X‐ray inspection issues.
A Correlation between Surface Insulation Resistance and Solvent Extract Conductivity Cleanliness Tests
Authors: Chan A.S.L. , Shankoff T.A.
Published: February 2008

Bellcore has two generic physical design criteria for telecommunications product cleanliness. Residual insoluble contamination levels are monitored by surface insulation testing, and soluble ionic species by solvent extract conductivity testing. The previously undefined relationship between the two has been elucidated and is reported in this paper. Contamination of insulation resistance test pattern surfaces with LiBr at the criterion limit of 1 μg NaCl equivalent per cm2 results in surface insulation resistance levels in the 109 to 1010 ohm range, which is the criterion level. A discussion correlates the Bellcore cleanliness criteria with satisfactory performance of today's leakage sensitive ICs. Contamination levels at or above 5 μg NaCl equivalent per cm2 result in significant circuit corrosion and migration at 85°C/85% relative humidity stress, clearly indicating unsatisfactory field performance for a product with such contamination levels.
New Methods of Surface Area Measurement and Current Density Control in PCB Manufacture
Authors: Menzies G.D.M.
Published: February 2008

New methods of surface area measurement by electrolytic means have been introduced into the UK by PMD Chemicals Ltd of Coventry. Two instruments, known as the DIM and MIM systems respectively, are available. The instruments differ in their method of measurement and applications, but both measure the conductive surface area of photo‐resisted boards to a high degree of accuracy and can convert this area measurement via an interface unit to a rectifier current output, thereby controlling plating current density.
Polymer Thick Film—A Powerful Supporting Technology in Diverse Applications
Authors: Kirby P.L.
Published: February 2008

Materials based on polymer films which are deposited by a screen printing process onto an inert substrate are finding innumerable applications in the fabrication of circuits in modern electronic assemblies. At one time the concept of ‘polymer thick film’ (PTF) technology might have been seen as an alternative to printed circuits on organic substrates or to thick film circuits on ceramic. The point is made here that, resulting from the very diverse range of materials now available, it is better to regard PTF as a supporting technology to be used in conjunction with other techniques from printed circuit or hybrid film technology. There are many examples where individual PTF materials have been selected and used in assisting or enabling roles with obvious technical advantages and significant commercial benefit.
The Effect of Solder Mask on PCB Solderability
Authors: Lea C.
Published: February 2008

Solder masks are used universally on high density printed circuit boards to reduce the occurrence of solder bridges between adjacent tracks and pads. The use of solder mask can, however, have a deleterious effect on the solderability, i.e., the solder pull‐through and top‐land wetting, of plated‐through‐hole boards. This work considers, quantitatively, the specific effect on PTH board solderability of solder mask, considering in turn the three classes of photoimageable dry film, photoimageable ink and screen printed ink. Two modes of solderability degradation have been identified: a geometrical effect that depends on the thickness of the mask and its encroachment around the solderable pads, and a contamination effect arising from the development and washing of the photoimageable masks from surfaces to be soldered subsequently.