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  • MIL-OSI USA: House Stands United to Condemn Deadly Attack on Minnesota Lawmakers

    Source: United States House of Representatives – Representative Mike Johnson (LA-04)

    House Stands United to Condemn Deadly Attack on Minnesota Lawmakers

    Washington, June 25, 2025

    WASHINGTON — Speaker Johnson released the following statement after the House passed H.Res.519, a resolution condemning the attacks on Minnesota lawmakers in Brooklyn Park and Champlin, Minnesota.

    “Today, every House Republican and Democrat stood united in condemning the horrific, politically motivated shootings in Minnesota. We pray for the Hortman family, who mourn the devastating loss of Rep. Melissa Hortman and her husband, Mark, as well as the Hoffman family, as their father fights to recover from the attack. We also extend our profound gratitude to the brave law enforcement officers whose swift response prevented further tragedy.

    “All acts of political violence are unconscionable, and every leader across the political spectrum must speak with one unequivocal voice against it. As elected officials, we have a responsibility to set the example for civility and demonstrate that our political rivals are not our enemies.”

    ###

    MIL OSI USA News –

  • MIL-OSI USA: House Republicans Put America’s Strength, Security, and Servicemembers First

    Source: United States House of Representatives – Representative Mike Johnson (LA-04)

    WASHINGTON — Speaker Johnson released the following statement after the House approved H.R. 3944, the FY26 Military Construction, Veterans Affairs, and Related Agencies Appropriations Act.

    “The passage of this legislation builds on Republicans’ commitment to put America’s strength, security, and servicemembers first.

    “This bill reflects President Trump’s Peace through Strength agenda by restoring the Pentagon’s focus on defending America and prioritizing our troops and veterans. This posture embodies the leadership and values the American people expect from their military and government.

    “It fully funds veterans’ health care, benefits, and critical VA programs to ensure America’s heroes receive the care and benefits they have earned and deserve.

    “This legislation also delivers billions of dollars to restore military readiness by upgrading barracks, improving military housing and childcare resources, and modernizing base infrastructure because taking care of America’s troops and their families is nonnegotiable.

    “We expected broad bipartisan support for this bill, but instead, 206 House Democrats chose to oppose this commonsense measure. House Republicans will always support America’s men and women in uniform. It’s a shame House Democrats do not.” 

    ###

    MIL OSI USA News –

  • MIL-OSI New Zealand: Police accept IPCA findings following accidental fall

    Source: New Zealand Police

    Police accept the findings by the Independent Police Conduct Authority following the death of a man in Auckland last year.

    On 4 November 2024, Police were called to a commercial property on Boston Road after a report of a man becoming agitated towards staff at the address and paramedics.

    Police officers arrived and instructed the man to leave.

    The man refused to leave despite the officer’s requests, so the officer placed a hand on his shoulder to guide him along.

    The man has then fallen and hit his head on the ground. Unfortunately, he was seriously injured and later died in hospital.

    The IPCA conducted an independent investigation, which included reviewing CCTV footage of the incident, and found the officer did not use force when placing his hand on the man’s shoulder and instead he lost his balance on the sloping driveway and fell to the ground.

    “This was an incredibly unfortunate incident for everyone concerned, including our attending staff,” Auckland City District Commander, Superintendent Sunny Patel, says.

    “Our sympathies remain with the man’s family and friends during what was no doubt a very challenging time.”

    ENDS.

    Holly McKay/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Employment Issues – Another day, another attack on workers’ rights – employers can dock pay of workers who take partial strike action – PSA

    Source: PSA

    The Government’s anti-worker agenda has stepped up with the passing into law last night the right for employers to dock the pay of workers who take low level strike action.
    The Employment Relations (Pay Deductions for Partial Strikes) Amendment Bill allows employers to deduct 10% of a worker’s wage for partial strike action such as not performing a task.
    “It’s clear what the agenda is here, this Government wants to give employers even more tools and power to keep wages down and profits high,” said Fleur Fitzsimons National Secretary Public Service Association Te Pūkenga Here Tikanga Mahi.
    “The new law is all about weakening the position of workers when involved in collective bargaining that becomes difficult to settle.
    “There are already only a small range of tools available to workers when negotiations fail. “Every time the Government takes away one of those tools, or puts a price on using them, the power imbalance gets worse, and workers pay the price.
    “The vast majority of collective agreements are settled without industrial action as employers and working people agree on pay and conditions but when that agreement is difficult to find, there are tools that both sides can use help to find agreement. This includes mediation or facilitation ordered by the Employment Relations Authority.
    “If that fails, low level strike action, agreed by union members through a ballot, is a tool workers can use to make their concerns loud and clear to employers.
    “If the Government keeps raiding the toolkit as they are here, they actually risk opening the door to escalating strike action and longer stoppages when the only tool left is a sledgehammer.
    “This is another win for employers, the latest in a long series of extreme anti-worker policies – cancelling pay equity rules, axing of fair pay agreements, the 90 day fire at will law, tightening personal grievance rules, low minimum wage increases and the prospect of cutting sick pay for part-time workers now on the radar.
    “This government has no shame in pursuing an agenda that is blatantly all about giving more power to employers and beating down on workers – the PSA will continue to resist strongly.”
    The Public Service Association Te Pūkenga Here Tikanga Mahi is Aotearoa New Zealand’s largest trade union, representing and supporting more than 95,000 workers across central government, state-owned enterprises, local councils, health boards and community groups.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Sustainability sees rising strategic importance amid increasing strain on professionals

    Source: Sustainable Business Council

    Research released today into New Zealand’s sustainability profession reveals a compelling picture of a profession which is gaining strategic traction, while grappling with systemic challenges.
    The report, Insights on Aotearoa New Zealand Sustainability Professionals, delivered by Oxygen Consulting in collaboration with the Sustainable Business Council (SBC), Sustainable Business Network (SBN) and Auckland University of Technology (AUT), draws on the insights from sustainability professionals across Aotearoa New Zealand, unpacking capability and competencies, remuneration, job opportunities, and overall wellbeing.
    Now in its sixth year, the 2025 findings reveal a sector navigating heightened economic pressures, regulatory complexity, and emotional strain. Despite these headwinds though, the profession is maturing, with sustainability roles increasingly being embedded in core business functions such as strategy and finance.
    Director of Oxygen Consulting Sarah Holden says the 2025 results show sustainability professionals are no longer operating on the fringes but are increasingly central to business resilience and transformation.
    “But with that visibility comes pressure. Our research shows a profession that is passionate and committed but also stretched and in need of greater structural support.”
    Key findings include:
    • 60% of professionals have been in their current role for two years or less, suggesting high turnover and limited career pathways.
    • Only 12% believe current training adequately prepares them for the demands of their roles.
    • Climate anxiety and emotional exhaustion are rising, particularly among younger professionals.
    Professor Marjo Lips-Wiersma of Auckland University of Technology says, “The wellbeing data in this year’s finding is sobering. Sustainability professionals are deeply affected by the issues they work on. As organisations and educators, we must support graduates and sustainability officers at all levels to not only be technically skilled, but also emotionally resilient.”
    Despite these challenges, the findings also highlight:
    • A growing sense of professional competency, with more than 88% of respondents feeling confident in their ability to manage sustainability responsibilities.
    • Increasing integration of sustainability into strategy and finance functions, signalling a shift from compliance to core business value.
    • A growing appetite for business-relevant skills such as financial sustainability, business case development, and influencing.
    “These findings offer crucial insights for our business leaders,” says Mike Burrell, Chief Executive of the Sustainable Business Council.
    “If we want to deliver on our climate and ESG commitments and harness the opportunities sustainability presents, we must invest in the people doing the work. That means providing quality training and adequate development opportunities, as well as demonstrating leadership that champions sustainability from the very top.”
    The findings come at a time when sustainability is increasingly seen as a strategic imperative. Yet, 80% of professionals report no clear development pathway within their organisations.
    “It’s no surprise this report confirms that sustainability is indeed central to business success, export growth and meeting the expectations of global supply chains,” says Rachel Brown, CEO of the Sustainable Business Network.
    “What’s equally clear is that we have the talent, passion and capability in Aotearoa to deliver. Yet to truly succeed they need adequate resourcing, recognition and clear career pathways so their contributions can thrive.”
    The report calls for systems-level investment in training, cross-disciplinary integration, and visible leadership support to ensure the profession can thrive-and deliver the transformation New Zealand businesses need.
    A comprehensive list of training opportunities offered by the report’s partners can be found here.
    Insights on Aotearoa New Zealand Sustainability Professionals is the only research of its kind in New Zealand. Download the full insights report here.
    Notes
    The sustainability experts and partners listed above will be participating in a panel at today’s launch event, responding to the insights and discussing ideas for addressing future challenges.
    Target participants for this research included any employed people who currently have ‘sustainability’ as part or all of their role. ‘Sustainability’ includes responsibilities that address the social, environmental and economic risks to the organisation. The scope included anyone in full time, part time or contractual positions within public, private, non-governmental, charity, and not-for-profit organisations.

    MIL OSI New Zealand News –

  • MIL-OSI USA: SEC Extends Compliance Date to Help Broker-Dealers Fully Test and Implement Daily Reserve Computation Requirement

    Source: Securities and Exchange Commission

    The Securities and Exchange Commission today voted to extend the compliance date to June 30, 2026, for the amendments to Rule 15c3-3 (the broker-dealer customer protection rule) that the Commission adopted on Dec. 20, 2024. The amendments require certain broker-dealers to increase the frequency of required reserve computations under Rule 15c3-3 from weekly to daily. The compliance date for these required daily reserve computations was originally Dec. 31, 2025. 

    “The days of unreasonable deadlines have passed,” said SEC Chairman Paul S. Atkins. “By extending this compliance date, we are giving broker-dealers additional time to implement daily computation under Rule 15c3-3. I am pleased the Commission agrees that additional time is necessary to allow broker-dealers to avoid operational challenges with meeting the initial compliance date.”

    This extension will provide more time for broker-dealers to make any necessary systems or operational changes to implement a daily computation requirement and test their new daily processes for compliance.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Amends Disaster Declaration for Missouri

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – In response to an amended Presidential public assistance declaration, the U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to private nonprofit organizations (PNP) in the Camden County affected by severe storms, straight-line winds, tornadoes and wildfires occurring March 14-15.

    These low-interest federal disaster loans are available in the Missouri counties of Bollinger, Butler, Callaway, Camden, Carter, Dunklin, Franklin, Howell, Iron, Madison, New Madrid, Oregon, Ozark, Perry, Phelps, Reynolds, Ripley, Scott, Shannon, Stoddard and Wayne.

    Applicants may be eligible for a loan amount increase of up to 20% of their physical damage, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements might include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future damage caused by any disaster. 

    “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans.”

    PNPs are also eligible to apply for Economic Injury Disaster Loans (EIDLs) to help meet working capital needs. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster. EIDL assistance is available regardless of whether the PNP suffered any physical property damage. 

    The loan amount can be up to $2 million with interest rates as low as 3.62% for PNPs, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return applications for physical property damage is July 22, 2025. The deadline to return economic injury applications is Feb. 23, 2026.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Amends Disaster Declaration for Arkansas

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – In response to an amended Presidential public assistance declaration, the U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to private nonprofit organizations (PNP) in Crittenden, Garland and Mississippi counties affected by severe storms, tornadoes and flooding occurring April 2‑22, 2025.

    These low-interest federal disaster loans are available in the counties of Clark, Clay, Craighead, Crittenden, Cross, Dallas, Desha, Fulton, Garland, Greene, Hempstead, Hot Spring, Izard, Jackson, Lafayette, Lawrence, Lee, Little River, Lonoke, Marion, Miller, Mississippi, Monroe, Montgomery, Nevada, Newton, Pike, Poinsett, Prairie, Pulaski, Randolph, Saline, Scott, Searcy, Sevier, Sharp, St. Francis, Stone and Woodruff in Arkansas.

    Applicants may be eligible for a loan amount increase of up to 20% of their physical damage, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements might include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future damage caused by any disaster. 

    “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans.”

    PNPs are also eligible to apply for Economic Injury Disaster Loans (EIDLs) to help meet working capital needs. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster. EIDL assistance is available regardless of whether the PNP suffered any physical property damage. 

    The loan amount can be up to $2 million with interest rates as low as 3.62% for PNPs, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA will set loan amounts and terms based on each applicant’s financial condition.

    The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return applications for physical property damage is July 22, 2025. The deadline to return economic injury applications is Feb. 23, 2026.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: Transcript: Governor Phil Scott Signs Tax Relief Bill for Working Families, Seniors, and Military Retirees

    Source: US State of Vermont

    Montpelier, Vt. – Governor Phil Scott today held a ceremony to sign S.51, An act relating to Vermont income tax exclusions and tax credits into law. He was joined by members of the legislature, current and former members of the military, and other supporters of the bill. In addition to exempting military retirement income up to $125,000 from state taxes, the bill also expands the Earned Income Tax Credit, Child Tax Credit, and exempts an additional $5,000 of Social Security income for seniors.

    Governor Scott: Good afternoon, thanks for being here.

    Over the last few years Vermonters have felt the impacts of inflation and higher costs in many areas, making it harder for those looking to retire and for families and workers to make ends meet, which includes paying their property taxes.

    So, at the start of the session, one of the areas I asked the legislature to focus on was affordability.

    I put forward some ideas to help ease the tax burden so Vermonters aren’t forced to make tough decisions about which bills they pay this month and which ones they don’t, their electric bill, their fuel bill, or their car payment, because they can’t do all three. Or worse yet, consider moving out of Vermont to a more affordable state.

    Because when I’m out talking to people, that’s what they’re concerned about: how expensive it is to live in Vermont.

    My affordability plan included tax breaks for workers, families, and seniors by expanding the eligibility for the Child Tax Credit and Earned Income Tax Credit and increasing the social security income exemption by another $5,000.

    It also included fully exempting military retirement pay.

    And although we didn’t get as much as I would have liked, we did make significant gains.

    S.51 fully exempts income up to $125,000 and tapers off for those receiving more.

    The bill also includes a refundable tax credit for retirees earning up to $30,000.

    Since I was first elected Governor, I’ve asked the legislature to eliminate the income tax from military retirement because with an aging demographic and declining workforce, it’ll help attract more working aged people and families to Vermont.

    And it makes a lot of sense because it’s difficult to compete with other states who are much more generous with tax incentives.

    This exemption isn’t just about tax breaks, and as you can see by who’s here today, it’s not a partisan issue.

    It’s an important recruitment tool because many in the military retire at a relatively young age and have an entire civilian career ahead of them.

    They’re highly skilled from their military experience which we need to fill jobs here in the state.

    To all the members of our military, past and present, thank you for your service to our country.

    We live in freedom because of you and it’s important we remember the contributions you’ve made to protect that.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Action Taken by Governor Phil Scott on Legislation – June 25, 2025

    Source: US State of Vermont

    Montpelier, Vt. – Governor Phil Scott announced action on the following bills, passed by the General Assembly.

    On June 25, Governor Scott signed bills of the following titles:

    • H.474, An act relating to miscellaneous changes to election law
    • S.51, An act relating to Vermont income tax exclusions and tax credits

    To view a complete list of action on bills passed during the 2025 legislative session, click here.

    ###

    MIL OSI USA News –

  • MIL-OSI: Clairvest Reports Fiscal 2025 Fourth Quarter and Year End Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 25, 2025 (GLOBE NEWSWIRE) — Clairvest Group Inc. (TSX: CVG) today reported results for the fourth quarter and year ended March 31, 2025 and events which occurred subsequent to year end. (All figures are in Canadian dollars unless otherwise stated)

    Highlights

    • March 31, 2025 book value was $1,251.6 million or $88.30 per share compared with $1,234.3 million or $86.78 per share as at December 31, 2024 and $1,176.3 million or $80.16 per share as at March 31, 2024
    • Net income for the fourth quarter was $20.7 million or $1.46 per share as the fair value of certain investments increased
    • Net income for fiscal 2025 was $122.0 million or $8.47 per share. During fiscal 2025, Clairvest had $46.1 million of net realized gains from the realization of four investments and $44.8 million of net investment gains on its remaining private equity portfolio
    • Subsequent to year end, Clairvest and Clairvest Equity Partners VII (“CEP VII”) invested in NCS Engineers
    • Also subsequent to year end, Clairvest and CEP VII invested in Beneficial Reuse Management
    • Also subsequent to year end, Clairvest declared an annual dividend of $1.4 million, or $0.10 per share, and a special dividend of $11.1 million, or $0.7830 per share, both payable on July 25, 2025

    Clairvest’s book value was $1,251.6 million or $88.30 per share as at March 31, 2025, compared with $1,234.3 million or $86.78 per share as at December 31, 2024 and $1,176.3 million or $80.16 per share as at March 31 2024. For the year ended March 31, 2025, Clairvest had invested a total of $53 million in three new deals and follow-on investments and exited four investments for total proceeds of $141 million. As at March 31, 2025, cash, cash equivalents and temporary investments excluding marketable securities, as reported under IFRS, were $250 million. In addition, our acquisition entities held $139 million in cash, cash equivalents and temporary investments as at March 31, 2025 bringing total available cash to $389 million. In aggregate, this represented 31% of our book value as at March 31, 2025, or approximately $27 per share.

    Net income for the fourth quarter was $20.7 million, or $1.46 per share. The net income for the fourth quarter of fiscal 2025 reflects a net increase in the fair value of Clairvest’s investee companies and a corresponding increase in carried interest from the CEP Funds.

    Net income for the fiscal year was $122 million or $8.47 per share. During the fiscal year, Clairvest divested its investments in Winters Bros. Waste Systems of Long Island, Chilean Gaming Holdings, FSB Technology and Durante Rentals for net realized gains of $46.1 million, while the rest of the portfolio experienced net investment gains of $44.8 million, inclusive of foreign exchange gains. Following the realization of Winters Bros. Waste Systems of Long Island, Clairvest was awarded the 2025 CVCA Private Equity Global Dealmaker of the Year for the sale of this investment.

    During the fiscal year, 500,070 shares were purchased and cancelled for a total purchase price of $35 million, or at an average price of $70.01 per share. These purchases were accretive to the book value per share.

    In April 2025, and as previously announced, Clairvest together with CEP VII made a US$22.4 million (C$32.1 million) minority preferred equity investment in NCS Engineers, a provider of turn-key water and wastewater engineering solutions across the United States. Clairvest’s portion of the investment was US$5.6 million (C$8.0 million).

    In May 2025, and as previously announced, Clairvest together with CEP VII made a US$72.5 million (C$100.6 million) equity investment in Beneficial Reuse Management, a U.S.-based company which distributes products to the agriculture, landscape, wallboard, and construction end-markets by reusing or converting certain industrial waste streams into value-add products. Clairvest’s portion of the investment was US$18.1 million (C$25.1 million).

    “Fiscal 2025 was a productive year across Clairvest, marked by strong progress in our portfolio and continued investment momentum, despite a challenging macroeconomic backdrop. Our portfolio companies, on the whole, are performing well, and we remain confident in our ability to build long-term value alongside our entrepreneur partners. With CEP VII now underway with its first three investments, we are energized by the opportunities ahead and remain focused on backing aligned entrepreneurs in our active domains,” said Ken Rotman, CEO of Clairvest. “We were also honoured to receive the 2025 CVCA Private Equity Global Dealmaker of the Year award for our investment in Winters Bros. Waste Systems of Long Island – our ninth time being recognized by the CVCA. Clairvest and CEP V achieved a 7.5x MOIC and a 24% internal rate of return on this investment. Our partnership with the Winters family spans three separate investments over 18 years, and this transaction marks another excellent outcome driven by long-term alignment, patience, and mutual trust.”

    Also subsequent to year end, Clairvest declared an annual ordinary dividend of $0.10 per share and a special dividend of $0.7830 per share, such that in aggregate, the dividends represent 1% of the March 31, 2025 book value. Both dividends will be payable on July 25, 2025 to common shareholders of record as of July 4, 2025 and are eligible dividends for Canadian income tax purposes.

    Summary of Financial Results – Unaudited
             
    Financial Results(1) Quarter ended Year ended
    March 31 March 31
    2025 2024 2025 2024
    ($000’s, except per share amounts) $ $ $ $
    Net investment gain (loss) 11,438 22,024 15,248 (19,385)
    Net carried interest from Clairvest Equity Partners III and IV (292) 1,005 4,169 3,700
    Distributions, interest income, dividends and fees 19,386 11,897 157,064 52,336
    Total expenses (recovery), excluding income taxes 9,746 1,592 37,940 39,824
    Net income (loss) and comprehensive income (loss) 20,721 26,103 122,042 (3,353)
    Basic and fully diluted net income (loss) per share 1.46 1.78 8.47 (0.23)
    Financial Position March 31 March 31
    2025 2024
    ($000’s, except share information and per share amounts) $ $
    Total assets 1,429,435 1,342,139
    Total cash, cash equivalents and temporary investments 295,728 330,193
    Carried interest from Clairvest Equity Partners III and IV 48,517 52,188
    Corporate investments(1) 942,857 870,660
    Total liabilities 177,844 165,842
    Management participation from Clairvest Equity Partners III and IV 37,718 41,506
    Book value(2) 1,251,591 1,176,297
    Common shares outstanding 14,173,631 14,673,701
    Book value per share(2) 88.30 80.16
    (1) Includes carried interest of $141,897 (2024: $143,617) and management participation of $105,457 (2024: $103,740) from Clairvest Equity Partners V, VI and VII and $162,235 (2024: $90,973) in cash, cash equivalents and temporary investments held by Clairvest’s acquisition entities.
    (2) Book value is a non-IFRS measure calculated as the value of total assets less the value of total liabilities.
         

    Clairvest’s annual fiscal 2025 financial statements and MD&A are available on the SEDAR website at www.sedar.com and the Clairvest website at www.clairvest.com.

    About Clairvest

    Clairvest’s mission is to partner with entrepreneurs to help them build strategically significant businesses. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top performing private equity management firm with over CAD $4.6 billion of capital under management. Clairvest invests its own capital and that of third parties through the Clairvest Equity Partners limited partnerships in owner-led businesses. Under the current management team, Clairvest has initiated investments in 69 different platform companies and generated top quartile performance over an extended period.

    Contact Information

    Stephanie Lo
    Director of Investor Relations and Marketing
    Clairvest Group Inc.
    Tel: (416) 925-9270
    Fax: (416) 925-5753
    stephaniel@clairvest.com

    Forward-looking Statements

    This news release contains forward-looking statements with respect to Clairvest Group Inc., its subsidiaries, its CEP limited partnerships and their investments. These statements are based on current expectations and are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Clairvest, its subsidiaries, its CEP limited partnerships and their investments to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general and economic business conditions and regulatory risks. Clairvest is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

    www.clairvest.com

    The MIL Network –

  • MIL-OSI Economics: Rwanda: African Development Bank kickstarts pioneering cable car project in Kigali

    Source: African Development Bank Group
    The African Development Bank has approved a grant of $500,000 to undertake a feasibility study into the first phase of a cable car transport network in Kigali, that will be sub-Saharan Africa’s first aerial urban transit system.  The project is initiated by Ropeways Transit Rwanda Ltd (RTRL). 

    MIL OSI Economics –

  • MIL-Evening Report: From HAL 9000 to M3GAN: what film’s evil robots tell us about contemporary tech fears

    Source: The Conversation (Au and NZ) – By Adam Daniel, Associate Lecturer in Communication, Western Sydney University

    © 2025 Universal Studios. All Rights Reserved.

    Filmgoers have long been captivated by stories about robots. We are fascinated by their utopian promise, their superhuman intelligence and, in the case of the cyborg, their often uncanny resemblance to humans.

    But it is the evil robot – the machine that malfunctions, rebels or was built to harm – that has most powerfully gripped the collective imagination of audiences.

    From the silent menace of Maschinenmensch in 1927’s Metropolis, to the relentless pursuit of the Terminator, to the campy violence of M3GAN, evil robots continue to resonate.

    These films not only thrill, scare and entertain audiences. They also reflect deep-seated cultural anxieties about the unpredictable consequences of the current and future human-robot relationship.

    The killer robot is far from a simple villain. It is a mirror held up to some of the most pressing cultural questions we have about human autonomy and responsibility in the digital age.

    The precarity of human control

    The enduring appeal of the evil robot narrative lies in the way horror often channels our deepest cultural anxieties about the speed of technological advancement and the precarity of human control in an increasingly digital (and robotic) world.

    In The Spark of Fear, scholar Brian Duchaney posits that improvements in technology necessitate new types of horror stories, and that horror as a genre acts out our distrust of the social advances that new technology brings.

    In the late 1960s, there was unease about the growing sophistication of computers and the impacts of the Space Race. HAL 9000 of 2001: A Space Odyssey (1968) represented this threat through a disembodied AI that icily turned against its human creators.

    The android Ash in Alien (1979) added another layer of menace, disguised as a human embedded in the spacecraft crew and programmed to prioritise corporate interests over human life. In this case, Ash became a proxy for concerns over corporate adoption of automation, and the increasing role of technology in military and industrial contexts.

    During the Cold War era, fears of nuclear annihilation and concerns over reaching a point where we could no longer switch off the machines led to the unforgettable T-800 and shape-shifting T-1000 in the first two Terminator films (1984 and 1991).

    In the 21st century, as artificial intelligence and robotics became more prevalent in everyday life, the cinematic robot has entered our homes, culminating in M3GAN’s companion-gone-rogue.

    In M3GAN (2022), Gemma (Allison Williams) is a robotics designer who creates an AI-powered companion doll to help her orphaned niece Cady (Violet McGraw) cope with her grief. But the doll becomes dangerously overprotective.

    In M3GAN 2.0 (2025), the consciousness of the titular robot appears to have survived the 2022 film and, in a move that borrows from The Terminator 2, M3GAN shifts from villain to protector.

    The new film explores the consequences of the underlying tech for M3GAN being stolen and misused by a powerful defence contractor to create a military-grade robot, known as Amelia. The only option to counteract Amelia is for Gemma to resurrect M3GAN – complete with upgrades to make her faster, stronger and more deadly.

    Our technological anxieties

    Why is M3GAN such an effective avatar for our contemporary anxieties?

    Horror theorist Noël Carroll argues that monsters are often frightening because they don’t fit neatly into normal categories. They may be “in-between” things (such as part human, part machine) or contradictory (for example a zombie: both alive and dead at the same time).

    M3GAN is a great example of both. She looks and acts like a young girl, with expressive facial features and a snarky sense of humour. But she’s really just artificial intelligence inside a robot body.

    She’s also contradictory: she is designed to care for and protect her owner, yet she does so in exceedingly violent and deadly ways. These paradoxes make her both frightening and fascinating for audiences.

    M3GAN and M3GAN 2.0 bring to the surface our technological anxieties, and defuse them through their camp qualities.

    One sequence in the earlier film sees M3GAN break into a fluid yet unsettling dance, mimicking the performance of many a TikTok teen, only for the dance to end abruptly when she snatches a paper cutter blade and returns to stalking her victim.

    This meme-ified moment – combined with some deadpan one-liners and often comically ironic facial expressions – have led to M3GAN becoming a gay icon in the wake of the original film.

    M3GAN’s campiness doesn’t completely neutralise the horror. It reformulates it, offering a cathartic release that makes the subject matter more digestible. While we feel fear, we do so without real-world consequences. The fear is disarmed through humour.

    This multifaceted horror experience more fully reflects the complexities of our evolving relationship with new technology. These relationships often move through a spectrum of concern, anxiety and fear before we find ways to manage and normalise those feelings.

    Humour and catharsis are two of these coping mechanisms. Movies provide us with a way of neatly and temporarily resolving what often remain unresolved questions.

    Films like M3GAN 2.0 illustrate how horror narratives can also transform alongside the technologies they critique, offering not only tension and jump scares, but also philosophical consideration, comedy and cathartic release.

    Adam Daniel does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. From HAL 9000 to M3GAN: what film’s evil robots tell us about contemporary tech fears – https://theconversation.com/from-hal-9000-to-m3gan-what-films-evil-robots-tell-us-about-contemporary-tech-fears-258397

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: Education reforms agreed by Parliament

    Source: Scottish Government

    New qualifications body and independent inspectorate will be established.

    The creation of a new national qualifications body, along with an independent education inspectorate, has taken a major step forward after legislation to implement the changes was passed in the Scottish Parliament.

    The Education (Scotland) Bill was backed by 69 votes to 47 by MSPs tonight. This includes provisions to replace the Scottish Qualifications Authority (SQA) with a new organisation, Qualifications Scotland.

    The office of His Majesty’s Chief Inspector of Education in Scotland, with enhanced independence, will be created to undertake the education inspection functions that currently sit within Education Scotland.

    The final legislation, following Stage 2 and Stage 3 amendments to the Bill initially introduced in June last year, includes measures from all political parties represented on Holyrood’s Education, Children and Young People committee.  

    Education Secretary Jenny Gilruth said:

    “The successful passage of this legislation shows this Government is serious about implementing the changes needed to drive improvement across Scotland’s education and skills system.

    “The creation of a new national qualifications body is about building the right conditions for reform to flourish; the new body will ensure that knowledge and experience of pupils and teachers are at the heart of our national qualifications offering. The new inspectorate body will also have greater independence and the power to set the frequency and focus of inspections, moving this function away from Ministers, to His Majesty’s Chief Inspector.  

    “Throughout this process, I have been determined to work with other parties on this vital legislation. I am also grateful to teaching unions and other organisations across civic Scotland who contributed to its development.

    “Taken together our major programme of education and skills reform will bring about the changes needed to meet the needs of future generations of young people.”

     Background

    Qualifications Scotland is expected to become operational in Autumn 2025.

    Once appointed, HM Chief Inspector will lead the new education inspectorate, which is expected to become operational in Autumn 2025. The new inspectorate will operate independently, while the Bill passed by Parliament will see Scottish Ministers retain oversight authority and they will be able to request that specific inspections be carried out by the Chief Inspector.

    Two elements of reform activity are not part of the Bill’s provisions. These are the revised remit of Education Scotland, which will see it continue as the national education agency but with a focus on the curriculum, and the establishment of a Centre for Teaching Excellence, which will be launched at the start of the new academic year and help support teachers’ professional development. 

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Seeds of innovation: Investing in agri-research

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

  • MIL-OSI Canada: Saskatchewan Wildfire Update – June 25

    Source: Government of Canada regional news

    Released on June 25, 2025

    As of 2:00 p.m. on Thursday, June 25, there are 19 active wildfires in Saskatchewan. Of those active fires, two are categorized as contained, five are not contained, nine are ongoing assessment and three are listed as protecting values.

    This year, Saskatchewan has had 267 wildfires, which is well above the five-year average of 166 to date.

    Three communities remain under an evacuation order: East Trout Lake, as well as priority individuals from Creighton and Denare Beach. Priority individuals from Cumberland House have been repatriated.

    The SPSA’s Recovery Task Team continues to meet with community leaders to discuss recovery efforts.     

    Over $4 million has been transferred directly to residents as well as communities that are distributing the $500 Government of Saskatchewan Financial Assistance to their residents that have been impacted by the wildfires. The SPSA is continuing to coordinate with communities that have asked for its support in distributing this financial assistance.

    Evacuees who have not yet registered are encouraged to do so through the Sask Evac Web Application or by calling 1-855-559-5502 between 8 a.m. and 5 p.m. 

    Evacuees supported by the Canadian Red Cross can call 1-800-863-6582. 

    A full list of evacuated and repatriated communities can be found on the Information for Evacuees webpage.

    The latest information, an interactive fire ban map, frequently asked questions, fire risk maps and fire prevention tips can be found at saskpublicsafety.ca.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI USA: Texas Business Owner Sentenced for COVID-19 Relief Fraud

    Source: US State of North Dakota

    A Texas woman was sentenced today to three years and five months in prison for her participation in a scheme to file fraudulent applications for loans under the Paycheck Protection Program (PPP) that the Small Business Administration (SBA) guaranteed under the Coronavirus Aid, Relief, and Economic Security Act.

    According to court documents, between around May 2020, and March 2021, Shantelle Hawkins, 43, of DeSoto, conspired to submit 17 fraudulent PPP loan applications on behalf of companies she or her relatives owned or controlled. The applications contained false statements about payroll and tax information, which the SBA used to calculate the amount of PPP funds to which the applicant-companies would be entitled. Hawkins used some of the money she obtained from the loans for personal expenses, including to pay off her 2015 Maserati Ghibli luxury car and to purchase property in the greater Dallas area.

    Hawkins pleaded guilty on Oct. 8, 2024, to conspiracy to commit wire fraud.  At sentencing, Hawkins was ordered to pay more than $1.8 million in restitution and to forfeit the residence purchased with proceeds from the fraud.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division; Acting U.S. Attorney Nancy E. Larson for the Northern District of Texas; and Special Agent in Charge R. Joseph Rothrock of the FBI’s Dallas Field Office made the announcement.

    The FBI is investigating the case.

    Trial Attorneys Dermot Lynch and Kashan Pathan of the Criminal Division’s Fraud Section prosecuted the case. Assistant U.S. Attorney Elyse Lyons for the Northern District of Texas is handling asset forfeiture.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Justice Department’s National Center for Disaster Fraud Hotline at 866-720-5721 or via the NCDF Web Complaint Form at www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    MIL OSI USA News –

  • MIL-OSI USA: Texas Business Owner Sentenced for COVID-19 Relief Fraud

    Source: US State of North Dakota

    A Texas woman was sentenced today to three years and five months in prison for her participation in a scheme to file fraudulent applications for loans under the Paycheck Protection Program (PPP) that the Small Business Administration (SBA) guaranteed under the Coronavirus Aid, Relief, and Economic Security Act.

    According to court documents, between around May 2020, and March 2021, Shantelle Hawkins, 43, of DeSoto, conspired to submit 17 fraudulent PPP loan applications on behalf of companies she or her relatives owned or controlled. The applications contained false statements about payroll and tax information, which the SBA used to calculate the amount of PPP funds to which the applicant-companies would be entitled. Hawkins used some of the money she obtained from the loans for personal expenses, including to pay off her 2015 Maserati Ghibli luxury car and to purchase property in the greater Dallas area.

    Hawkins pleaded guilty on Oct. 8, 2024, to conspiracy to commit wire fraud.  At sentencing, Hawkins was ordered to pay more than $1.8 million in restitution and to forfeit the residence purchased with proceeds from the fraud.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division; Acting U.S. Attorney Nancy E. Larson for the Northern District of Texas; and Special Agent in Charge R. Joseph Rothrock of the FBI’s Dallas Field Office made the announcement.

    The FBI is investigating the case.

    Trial Attorneys Dermot Lynch and Kashan Pathan of the Criminal Division’s Fraud Section prosecuted the case. Assistant U.S. Attorney Elyse Lyons for the Northern District of Texas is handling asset forfeiture.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Justice Department’s National Center for Disaster Fraud Hotline at 866-720-5721 or via the NCDF Web Complaint Form at www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Bonta, San Mateo District Attorney Wagstaffe Secure Settlement, Full Refunds for Hundreds of California Travelers

    Source: US State of California

    Travel agent failed to offer refunds for trips cancelled due to COVID-19 pandemic

    OAKLAND — California Attorney General Rob Bonta and San Mateo District Attorney Stephen Wagstaffe today announced a settlement with Nawas International Travel Service (Nawas), a California travel agency focusing on religious travel, for failing to provide full refunds to consumers whose trips were cancelled during the COVID-19 pandemic. The settlement today, pending court approval, includes at least $567,138 in full restitution of cancellation fees to affected California travelers, $560,000 in civil penalties under the California’s Unfair Competition Law and Seller of Travel Act, and strong injunctive terms that prohibit Nawas from imposing cancellation fees that violate California law. 

    “We are proud to announce that today, in partnership with the San Mateo District Attorney, we’ve secured full refunds for hundreds of Californians who were harmed by the illegal practices of Nawas International Travel Service. Travel agents operating in California must comply with California’s strong consumer protection laws, which includes providing timely refunds for cancelled travel,” said Attorney General Rob Bonta. “Today’s settlement provides important restitution for those harmed by Nawas’s attempt to disregard California law and a reminder to the travel industry that all California Sellers of Travel need to play by the rules.”  

    “California law provides protections for consumers when purchasing travel from Sellers of Travel. My office was pleased to work with the Attorney General’s Office in this case to ensure these laws were enforced,” said San Mateo District Attorney Stephen Wagstaffe. 

    Nawas is a seller and provider of tours to religious sites around the world, including sites in the Middle East and Europe. Nawas markets its tours largely through clergy and many of Nawas’s travelers are senior citizens. In 2020, due to the COVID-19 pandemic, Nawas cancelled hundreds of international tours. After the cancellation, rather than refunding the full amount of the travelers’ deposits and tour payments, Nawas unlawfully withheld “cancellation fees” of between $200 and $1,150 per traveler. In all, Nawas withheld approximately $560,000 in what they termed cancellation fees from approximately 600 California travelers. Nawas’s withholding of those funds violated the California Seller of Travel Act, which requires sellers of travel to provide full refunds for any travel that they are unable to provide, with certain limited exceptions that do not apply here. Although Nawas claimed to travelers that it was allowed to withhold cancellation fees under its own terms and conditions, the Seller of Travel Act expressly prohibits this where, as here, the seller of travel is unable or unwilling to provide the purchased travel. 

    The Attorney General’s Office operates the Seller of Travel Program, which registers travel agents and certain other travel businesses operating in California. The attorney general and district attorneys can bring enforcement actions against sellers of travel for violations of the law. We encourage any Californian who believes they have been wronged by a seller of travel to contact their local district attorney and file a complaint with our office at ‪www.oag.ca.gov/report.

    Attorney General Bonta is committed to investigating and remedying harm to consumers affected by unlawful and deceptive business practices, including in the travel industry: 

    Earlier this year, Attorney General Bonta announced securing a nine-year jail sentence against Iqbal Randhawa for defrauding more than a dozen members of the South Asian immigrant community in Northern California. Between 2017 and 2020, each victim hired Randhawa, a travel agent, to purchase airline tickets, paying him between $1,100 and $12,000. Instead of buying the tickets, Randhawa provided fraudulent itineraries and stole the funds. Also last year, Attorney General Bonta and San Diego District Attorney Summer Stephan announced the sentencing of Marie Martin, a San Diego-based travel agent and registered seller of travel, who embezzled travel funds from more than 150 parents who paid for eighth-grade school trips to the East Coast. After the school trips were cancelled due to the COVID-19 pandemic, Martin refused to provide refunds to the parents, instead spending funds on personal expenses. In 2021, Attorney General Bonta announced a settlement  with Voyageurs International, resolving allegations that the Colorado-based travel agent offered only partial refunds for a cancelled European trip for California high school students and improperly pocketed their clients’ remaining fees. The settlement required Voyageurs to provide a full refund to its 130 California consumers, for a total of approximately $247,000 in restitution.  

    A copy of the complaint and proposed settlement can be found here and here. The settlement is pending court approval. 

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Bonta, San Mateo District Attorney Wagstaffe Secure Settlement, Full Refunds for Hundreds of California Travelers

    Source: US State of California

    Travel agent failed to offer refunds for trips cancelled due to COVID-19 pandemic

    OAKLAND — California Attorney General Rob Bonta and San Mateo District Attorney Stephen Wagstaffe today announced a settlement with Nawas International Travel Service (Nawas), a California travel agency focusing on religious travel, for failing to provide full refunds to consumers whose trips were cancelled during the COVID-19 pandemic. The settlement today, pending court approval, includes at least $567,138 in full restitution of cancellation fees to affected California travelers, $560,000 in civil penalties under the California’s Unfair Competition Law and Seller of Travel Act, and strong injunctive terms that prohibit Nawas from imposing cancellation fees that violate California law. 

    “We are proud to announce that today, in partnership with the San Mateo District Attorney, we’ve secured full refunds for hundreds of Californians who were harmed by the illegal practices of Nawas International Travel Service. Travel agents operating in California must comply with California’s strong consumer protection laws, which includes providing timely refunds for cancelled travel,” said Attorney General Rob Bonta. “Today’s settlement provides important restitution for those harmed by Nawas’s attempt to disregard California law and a reminder to the travel industry that all California Sellers of Travel need to play by the rules.”  

    “California law provides protections for consumers when purchasing travel from Sellers of Travel. My office was pleased to work with the Attorney General’s Office in this case to ensure these laws were enforced,” said San Mateo District Attorney Stephen Wagstaffe. 

    Nawas is a seller and provider of tours to religious sites around the world, including sites in the Middle East and Europe. Nawas markets its tours largely through clergy and many of Nawas’s travelers are senior citizens. In 2020, due to the COVID-19 pandemic, Nawas cancelled hundreds of international tours. After the cancellation, rather than refunding the full amount of the travelers’ deposits and tour payments, Nawas unlawfully withheld “cancellation fees” of between $200 and $1,150 per traveler. In all, Nawas withheld approximately $560,000 in what they termed cancellation fees from approximately 600 California travelers. Nawas’s withholding of those funds violated the California Seller of Travel Act, which requires sellers of travel to provide full refunds for any travel that they are unable to provide, with certain limited exceptions that do not apply here. Although Nawas claimed to travelers that it was allowed to withhold cancellation fees under its own terms and conditions, the Seller of Travel Act expressly prohibits this where, as here, the seller of travel is unable or unwilling to provide the purchased travel. 

    The Attorney General’s Office operates the Seller of Travel Program, which registers travel agents and certain other travel businesses operating in California. The attorney general and district attorneys can bring enforcement actions against sellers of travel for violations of the law. We encourage any Californian who believes they have been wronged by a seller of travel to contact their local district attorney and file a complaint with our office at ‪www.oag.ca.gov/report.

    Attorney General Bonta is committed to investigating and remedying harm to consumers affected by unlawful and deceptive business practices, including in the travel industry: 

    Earlier this year, Attorney General Bonta announced securing a nine-year jail sentence against Iqbal Randhawa for defrauding more than a dozen members of the South Asian immigrant community in Northern California. Between 2017 and 2020, each victim hired Randhawa, a travel agent, to purchase airline tickets, paying him between $1,100 and $12,000. Instead of buying the tickets, Randhawa provided fraudulent itineraries and stole the funds. Also last year, Attorney General Bonta and San Diego District Attorney Summer Stephan announced the sentencing of Marie Martin, a San Diego-based travel agent and registered seller of travel, who embezzled travel funds from more than 150 parents who paid for eighth-grade school trips to the East Coast. After the school trips were cancelled due to the COVID-19 pandemic, Martin refused to provide refunds to the parents, instead spending funds on personal expenses. In 2021, Attorney General Bonta announced a settlement  with Voyageurs International, resolving allegations that the Colorado-based travel agent offered only partial refunds for a cancelled European trip for California high school students and improperly pocketed their clients’ remaining fees. The settlement required Voyageurs to provide a full refund to its 130 California consumers, for a total of approximately $247,000 in restitution.  

    A copy of the complaint and proposed settlement can be found here and here. The settlement is pending court approval. 

    MIL OSI USA News –

  • MIL-OSI Security: Blue Ridge Departs Guam Following Port Visit

    Source: United States Navy Pacific Fleet 1

    APRA HARBOR, Guam – The U.S. 7th Fleet flagship USS Blue Ridge (LCC 19) and embarked 7th Fleet staff departed Guam following a scheduled port visit, June 14-17. This port visit marked the first time Blue Ridge has visited Guam since 2020.

    MIL Security OSI –

  • MIL-OSI: ABeam Consulting (USA) Ltd. and Millennium EBS Establish Strategic Collaborations to Expedite ISO 20022 Implementation

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, June 25, 2025 (GLOBE NEWSWIRE) — ABeam Consulting (USA) Ltd. (“ABeam US”) and Millennium EBS, a BlueOne Card Inc. subsidiary, have announced a strategic collaboration under a newly signed Master Services Agreement (MSA) to jointly promote the Millennium EBS Payment Hub: ISO 20022 Transformer. This collaboration brings together ABeam’s deep expertise in business and digital transformation and Millennium EBS’s advanced payment technology— offering banks and financial institutions a streamlined, future-ready solution for ISO 20022 compliance.

    A Unified Vision for Payment Modernization

    As global adoption of ISO 20022 accelerates, financial institutions are under increasing pressure to migrate to new messaging standards while maintaining operational continuity. The ISO 20022 Transformer offers a seamless path forward—enabling smooth integration with legacy systems, ensuring compliance with evolving regulations, and unlocking enhanced data quality and process efficiency.

    “Through this collaboration with Millennium EBS, we’re reinforcing our commitment to helping financial institutions navigate complex regulatory shifts with confidence,” said a spokesperson from ABeam US. “Together, we’re delivering not just compliance—but the strategic capabilities institutions need to stay competitive in a digital-first economy.”

    ABeam Consulting: A Trusted Transformation Partner

    ABeam Consulting serves clients across diverse industries, including financial services, automotive, manufacturing, and consumer goods. The firm has led successful transformation initiatives for leading organizations worldwide, with a focus on digitalization, operational excellence, and customer-centric growth.

    With its extensive experience in ISO 20022 compliance, digital modernization, and systems integration, ABeam Consulting offers end-to-end support for implementing the ISO 20022 Transformer, ensuring a seamless, scalable transition for financial institutions worldwide.

    Technology Meets Industry Expertise

    “This partnership with ABeam US is a major step forward in our mission to modernize payment systems globally,” said Shinto J Matthew, CEO of Millennium EBS. “By integrating our proven technology with ABeam US’s industry insight, we’re equipping banks with a powerful toolkit to manage ISO 20022 migration efficiently—and drive long-term operational gains.”

    With the ISO 20022 Transformer, financial institutions benefit from:

    • Seamless integration with existing payment infrastructure
    • Regulatory compliance with ISO 20022 standards and migration timelines
    • Improved transaction transparency and data quality

    Greater operational efficiency across domestic and cross-border payments

    To learn more about the ISO 20022 Transformer and how ABeam and Millennium EBS can support your payment modernization journey, visit [smatthew@millenniumebs.com] or contact [smatthew@millenniumebs.com].

    About ABeam

    ABeam Consulting provides innovative business solutions to help companies improve their operations and gain a competitive edge. With over 42 years of experience, ABeam has grown from a part of Deloitte and Touche to an independent consulting firm focused on client success.

    Today, ABeam operates in 36 countries, serving more than 750 clients across Asia, the Americas, and Europe. With over 8,300 professionals, ABeam reported $1 billion in revenue for fiscal year 2024. ABeam combines industry expertise with technological innovation to help clients navigate the digital landscape.

    ABeam is committed to fostering change by integrating business strategy with technology. Our focus on connected and intelligent applications helps companies reimagine their business models and confidently plan for the future. Join the 750+ global organizations transforming their operations with ABeam Consulting. Explore our services and insights at www. abeam.com/am/en/.

    About Millennium EBS

    Millennium EBS, now a subsidiary of BlueOne Card Inc, brings over two decades of industry expertise in delivering high-quality, reliable payment solutions tailored to the evolving needs of modern financial institutions. Millennium EBS empowers small to medium-sized banks and financial institutions worldwide through seamless payment processing, regulatory-compliant ISO 20022 transformation, and personalized customer engagement tools. For more information, please visit www.millenniumebs.com/.

    Millenium EBS

    Shinto J Matthew – CEO

    Email: smatthew@millenniumebs.com

    The MIL Network –

  • MIL-OSI: ABeam Consulting (USA) Ltd. and Millennium EBS Establish Strategic Collaborations to Expedite ISO 20022 Implementation

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, June 25, 2025 (GLOBE NEWSWIRE) — ABeam Consulting (USA) Ltd. (“ABeam US”) and Millennium EBS, a BlueOne Card Inc. subsidiary, have announced a strategic collaboration under a newly signed Master Services Agreement (MSA) to jointly promote the Millennium EBS Payment Hub: ISO 20022 Transformer. This collaboration brings together ABeam’s deep expertise in business and digital transformation and Millennium EBS’s advanced payment technology— offering banks and financial institutions a streamlined, future-ready solution for ISO 20022 compliance.

    A Unified Vision for Payment Modernization

    As global adoption of ISO 20022 accelerates, financial institutions are under increasing pressure to migrate to new messaging standards while maintaining operational continuity. The ISO 20022 Transformer offers a seamless path forward—enabling smooth integration with legacy systems, ensuring compliance with evolving regulations, and unlocking enhanced data quality and process efficiency.

    “Through this collaboration with Millennium EBS, we’re reinforcing our commitment to helping financial institutions navigate complex regulatory shifts with confidence,” said a spokesperson from ABeam US. “Together, we’re delivering not just compliance—but the strategic capabilities institutions need to stay competitive in a digital-first economy.”

    ABeam Consulting: A Trusted Transformation Partner

    ABeam Consulting serves clients across diverse industries, including financial services, automotive, manufacturing, and consumer goods. The firm has led successful transformation initiatives for leading organizations worldwide, with a focus on digitalization, operational excellence, and customer-centric growth.

    With its extensive experience in ISO 20022 compliance, digital modernization, and systems integration, ABeam Consulting offers end-to-end support for implementing the ISO 20022 Transformer, ensuring a seamless, scalable transition for financial institutions worldwide.

    Technology Meets Industry Expertise

    “This partnership with ABeam US is a major step forward in our mission to modernize payment systems globally,” said Shinto J Matthew, CEO of Millennium EBS. “By integrating our proven technology with ABeam US’s industry insight, we’re equipping banks with a powerful toolkit to manage ISO 20022 migration efficiently—and drive long-term operational gains.”

    With the ISO 20022 Transformer, financial institutions benefit from:

    • Seamless integration with existing payment infrastructure
    • Regulatory compliance with ISO 20022 standards and migration timelines
    • Improved transaction transparency and data quality

    Greater operational efficiency across domestic and cross-border payments

    To learn more about the ISO 20022 Transformer and how ABeam and Millennium EBS can support your payment modernization journey, visit [smatthew@millenniumebs.com] or contact [smatthew@millenniumebs.com].

    About ABeam

    ABeam Consulting provides innovative business solutions to help companies improve their operations and gain a competitive edge. With over 42 years of experience, ABeam has grown from a part of Deloitte and Touche to an independent consulting firm focused on client success.

    Today, ABeam operates in 36 countries, serving more than 750 clients across Asia, the Americas, and Europe. With over 8,300 professionals, ABeam reported $1 billion in revenue for fiscal year 2024. ABeam combines industry expertise with technological innovation to help clients navigate the digital landscape.

    ABeam is committed to fostering change by integrating business strategy with technology. Our focus on connected and intelligent applications helps companies reimagine their business models and confidently plan for the future. Join the 750+ global organizations transforming their operations with ABeam Consulting. Explore our services and insights at www. abeam.com/am/en/.

    About Millennium EBS

    Millennium EBS, now a subsidiary of BlueOne Card Inc, brings over two decades of industry expertise in delivering high-quality, reliable payment solutions tailored to the evolving needs of modern financial institutions. Millennium EBS empowers small to medium-sized banks and financial institutions worldwide through seamless payment processing, regulatory-compliant ISO 20022 transformation, and personalized customer engagement tools. For more information, please visit www.millenniumebs.com/.

    Millenium EBS

    Shinto J Matthew – CEO

    Email: smatthew@millenniumebs.com

    The MIL Network –

  • MIL-OSI Economics: Microsoft, Wisconsin Economic Development Corporation, University of Wisconsin-Milwaukee and TitletownTech officially open AI Co-Innovation Lab to accelerate manufacturing innovation

    Source: Microsoft

    Headline: Microsoft, Wisconsin Economic Development Corporation, University of Wisconsin-Milwaukee and TitletownTech officially open AI Co-Innovation Lab to accelerate manufacturing innovation

    MIL OSI Economics –

  • MIL-OSI Economics: Microsoft, Wisconsin Economic Development Corporation, University of Wisconsin-Milwaukee and TitletownTech officially open AI Co-Innovation Lab to accelerate manufacturing innovation

    Source: Microsoft

    Headline: Microsoft, Wisconsin Economic Development Corporation, University of Wisconsin-Milwaukee and TitletownTech officially open AI Co-Innovation Lab to accelerate manufacturing innovation

    MIL OSI Economics –

  • MIL-OSI Video: Deputy Ministers visit flood affected areas in the Eastern Cape

    Source: Republic of South Africa (video statements)

    Deputy Minister Nonceba Mhlauli leads a team of Deputy Ministers on a visit to the flood affected areas in the Eastern Cape , to assess recovery progress

    https://www.youtube.com/watch?v=6721d7C5x3E

    MIL OSI Video –

  • MIL-OSI Video: G20 Development Working Group meeting closing

    Source: Republic of South Africa (video statements)

    G20 Development Working Group meeting closing

    https://www.youtube.com/watch?v=pIkbjxy_r1s

    MIL OSI Video –

  • MIL-OSI USA: June 25th, 2025 Heinrich, Luján, Leger Fernández Urge Trump Administration to Reverse Course & Fully Implement Broadband

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich

    WASHINGTON — U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-N.M.), Ranking Member of the Senate Commerce Committee’s Subcommittee on Telecommunications and Media, and U.S. Representative Terese Leger Fernández (D-N.M.) joined over 40 of their colleagues to send a letter calling on U.S.  Department of Commerce Secretary Howard Lutnick to fully implement the Broadband Equity Access and Deployment (BEAD) program as Congress intended to connect all Americans to high-quality, affordable internet. 

    The lawmakers’ letter to Secretary Lutnick comes as the Department of Commerce announced substantial changes to the implementation of the BEAD program. 

    “We write to express our opposition to the Department of Commerce’s recently announced BEAD Restructuring Policy Notice,” the lawmakers wrote. “The Broadband Equity, Access, and Deployment (BEAD) program was established by Congress in the Bipartisan Infrastructure Law to provide high-quality, affordable, and sustainable broadband to connect the nearly 25 million Americans that continue to wait for high-speed internet access. We urge you to ensure that states receive the full funding and flexibility they retained prior to the issuance of the restructuring notice to fully meet these statutory objectives.” 

    “The broadband division of the Bipartisan Infrastructure Law begins with this congressional finding: ‘Access to affordable, reliable, high-speed broadband is essential to full participation in modern life in the United States,’” the lawmakers continued. “This fundamental reality is why the BEAD program was established to fulfill the subsequent finding that ‘the benefits of broadband should be broadly enjoyed by all.’”

    The letter is led by U.S. Senator Amy Klobuchar (D-Minn.) and U.S. Representative Jim Clyburn (D-S.C.). Alongside Heinrich, Luján, and Leger Fernández, the letter is signed by U.S. Senators Richard Blumenthal (D-Conn.), Lisa Blunt Rochester (D-Del.), Maria Cantwell (D-Wash.), Chris Coons (D-Del.), Mazie Hirono (D-Hawaii), Angus King (I-Maine), Ed Markey (D-Mass.), Jon Ossoff (D-Ga.), Gary Peters (D-Mich.), Elissa Slotkin (D-Mich.), Tina Smith (D-Minn.), and Raphael Warnock (D-Ga.), and U.S. Representatives Jim Clyburn (D-S.C.), Bishop (D-Ga.), Bynum (D-Ore.), Carson (D-Ind.), Carter (D-La.), Cleaver (D-Mo.),  Davis (D-Ill.), DelBene (D-Wash.), Evans (D-Pa.),  Fields (D-La.), Figures (D-Ala.), Garcia (D-Texas), Goodlander (D-N.H.), Hoyle (D-Ore.), Huffman (D-Calif), Lofgren (D-Calif.), McGovern (D-Mass.), Menendez (D-N.J.), Mrvan (D-Ind.), Neguse (D-Colo.), Pappas (D-N.H.), Scholten (D-Mich), Sewell (D-Ala.), Soto (D-Fla.), Thompson (D-Miss.), Titus (D-Nev.), Tlaib (D-Mich.), Tokuda (D-Hawaii), Williams (D-Ga.), and Wilson (D-Fla.).  

    The full text of the letter is available here and below:

    Dear Secretary Lutnick: 

    We write to express our opposition to the Department of Commerce’s recently announced BEAD Restructuring Policy Notice. The Broadband Equity, Access, and Deployment (BEAD) program was established by Congress in the Bipartisan Infrastructure Law to provide high-quality, affordable, and sustainable broadband to connect the nearly 25 million Americans that continue to wait for high-speed internet access. We urge you to ensure that states receive the full funding and flexibility they retained prior to the issuance of the restructuring notice to fully meet these statutory objectives. 

    The broadband division of the Bipartisan Infrastructure Law begins with this congressional finding: “Access to affordable, reliable, high-speed broadband is essential to full participation in modern life in the United States.” This fundamental reality is why the BEAD program was established to fulfill the subsequent finding that “the benefits of broadband should be broadly enjoyed by all.” To achieve this goal, the statute states that funding recipients must “ensure coverage of broadband service to all unserved locations” before using any funds for other purposes. The restructuring notice appears to violate this requirement by allowing applicants to exclude certain unserved locations. Such an allowance would defy bipartisan congressional intent, which was predicated on the understanding that public investment was needed to achieve universal service precisely because building the infrastructure to cover many rural areas was too costly to be profitable. 

    In addition to excluding unserved, predominantly rural locations, the restructuring notice would likely result in others receiving worse service. The Bipartisan Infrastructure Law requires that “priority broadband projects” funded by the program be “designed to provide broadband service that meets speed, latency, reliability, consistency in quality of service, and related criteria as the Assistant Secretary shall determine; and [to] ensure that the network[s] built by the project[s] can easily scale speeds over time to meet the evolving connectivity needs of households and businesses, and support the deployment of 5G, successor wireless technologies, and other advanced services.” Of currently available technologies, fiber-optic networks are faster and more reliable and can scale speeds much more easily. We made the decision to invest larger sums now in broadband infrastructure that would be resilient and capable of meeting Americans’ growing digital demands for decades. 

    The restructuring notice also undermines the Bipartisan Infrastructure Law’s provisions designed to ensure that broadband service is affordable and put to good use. The new rules remove specific requirements that ensured that participating providers would provide a low-cost internet option for low-income customers as required by the statute. Additionally, while the Bipartisan Infrastructure Law specifically allows funds to be spent on “broadband adoption, including programs to provide affordable internet-capable devices,” the notice rescinds approval of previously approved “non-deployment activities” and puts all funding for these activities on hold. For example, this provision of the notice puts on hold a South Carolina plan to use BEAD program funds for virtual primary health—equipping low-income households in rural health deserts with access to the full suite of virtual health services at no cost to the patients. If the broadband infrastructure being built by BEAD program funds isn’t put to good use, much of the investment will have been wasted. 

    As reflected in the Bipartisan Infrastructure Law’s congressional findings, high-quality internet access is a requirement to fully participate in the world, and the BEAD program is our once-in-a century opportunity to finish closing the digital divide. We fear this opportunity would be squandered by the restructuring notice and its changes to coverage, quality, and affordability. We therefore urge you to implement the BEAD program in accordance with the best reading of the statute so we can make high-quality internet accessible and affordable for all Americans.

    MIL OSI USA News –

  • MIL-OSI Security: Texas Business Owner Sentenced for COVID-19 Relief Fraud

    Source: United States Attorneys General

    A Texas woman was sentenced today to three years and five months in prison for her participation in a scheme to file fraudulent applications for loans under the Paycheck Protection Program (PPP) that the Small Business Administration (SBA) guaranteed under the Coronavirus Aid, Relief, and Economic Security Act.

    According to court documents, between around May 2020, and March 2021, Shantelle Hawkins, 43, of DeSoto, conspired to submit 17 fraudulent PPP loan applications on behalf of companies she or her relatives owned or controlled. The applications contained false statements about payroll and tax information, which the SBA used to calculate the amount of PPP funds to which the applicant-companies would be entitled. Hawkins used some of the money she obtained from the loans for personal expenses, including to pay off her 2015 Maserati Ghibli luxury car and to purchase property in the greater Dallas area.

    Hawkins pleaded guilty on Oct. 8, 2024, to conspiracy to commit wire fraud.  At sentencing, Hawkins was ordered to pay more than $1.8 million in restitution and to forfeit the residence purchased with proceeds from the fraud.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division; Acting U.S. Attorney Nancy E. Larson for the Northern District of Texas; and Special Agent in Charge R. Joseph Rothrock of the FBI’s Dallas Field Office made the announcement.

    The FBI is investigating the case.

    Trial Attorneys Dermot Lynch and Kashan Pathan of the Criminal Division’s Fraud Section prosecuted the case. Assistant U.S. Attorney Elyse Lyons for the Northern District of Texas is handling asset forfeiture.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Justice Department’s National Center for Disaster Fraud Hotline at 866-720-5721 or via the NCDF Web Complaint Form at www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    MIL Security OSI –

  • MIL-OSI USA: Senators Markey and Cassidy Celebrate Committee Passage of Children and Teens’ Online Privacy Protection Legislation

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Washington (June 25, 2025) – Senator Edward J. Markey (D-Mass.), member of the Commerce, Science, and Transportation Committee, and Senator Bill Cassidy (R-La.) today celebrated the unanimous passage of their Children and Teens’ Online Privacy Protection Act (COPPA 2.0) through the Commerce Committee. The legislation would update online data privacy rules for the 21st century and ensure children and teenagers are protected online.
    “We are proud of the momentum and broad support that our commonsense Children and Teens’ Online Privacy Protection Act is gaining from industry, advocates, and our own Senate colleagues,” said Senators Markey and Cassidy. “Today’s unanimous vote is further evidence of the broad, bipartisan commitment to protecting children and teens online. As our young people continue to face a devastating youth mental health crisis, Congress must pass COPPA 2.0 and implement these overdue safeguards for children and teens.”
    Specifically, the Children and Teens’ Online Privacy Protection Act would:
    Ban targeted advertising to children and teens;
    Create an “Eraser Button” by requiring companies to permit users to delete personal information collected from a child or teen;
    Establish data minimization rules to prohibit the excessive collection of children and teens’ data;
    Revise COPPA’s “actual knowledge” standard to close the loophole that allows platforms to ignore kids and teens on their site; and
    Build on COPPA by prohibiting internet companies from collecting personal information from users who are 13 to 16 years old without their consent.

    MIL OSI USA News –