Category: Business

MIL-OSI Canada: Canadian Grain Commission compensates producers at 75% for unpaid deliveries to Global Food and Ingredients Inc.

Source: Government of Canada News (2)

Winnipeg, Manitoba (October 10, 2024) – Producers who were not paid for grain delivered to Global Food and Ingredients Inc. will be compensated for their eligible claims through the Canadian Grain Commission’s Safeguards for Grain Farmers Program.

Winnipeg, Manitoba (October 21, 2024) – Producers who were not paid for grain delivered to Global Food and Ingredients Inc. will be compensated for their eligible claims through the Canadian Grain Commission’s Safeguards for Grain Farmers Program.

Following a review of individual producer claims, the Canadian Grain Commission determined that there were 29 eligible claims totalling $2.661 million for unpaid deliveries to Global Food and Ingredients Inc. The company had $2 million in security available so individual payments will be prorated. As a result, producers will receive 75% compensation for their eligible claims. Cheques have been mailed to producers.

In addition to this compensation, the Canadian Grain Commission is working with the receiver, Richter LLP, to realize on proceeds from the sale of the company’s grain inventory. Holders of outstanding primary elevator receipts may receive a portion of these funds through the Canadian Grain Commission at a later date, once the receivership has been concluded.

Christianne Hacault

Head of communications

Canadian Grain Commission

204-229-0128

christianne.hacault@grainscanada.gc.ca

Canadian Grain Commission

The Canadian Grain Commission is the federal agency responsible for establishing and maintaining Canada’s grain quality standards. Its programs result in shipments of grain that consistently meet contract specifications for quality, safety and quantity. The Canadian Grain Commission regulates the grain industry to protect producers’ rights and ensure the integrity of grain transactions.

MIL OSI Canada News –

January 24, 2025

MIL-OSI: Quadient Secures New c.$1 Million Contract with U.S. Federal Agency for Mail Modernization Project

Source: GlobeNewswire (MIL-OSI)

Quadient (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, announced today that a large U.S. federal government agency has awarded Quadient a contract worth nearly $1 million for a comprehensive mail modernization project. This opportunity, secured through one of Quadient’s business partners, highlights Quadient’s commitment to fostering long-term customer relationships and developing strategic partnerships to better serve customers while reaching new businesses in need of process automation platforms.

By maintaining close relationships with customers and regularly assessing their operations, Quadient identifies operational efficiencies and growth opportunities for its clients that it can meet with a wide array of solutions. The U.S. federal agency, which already operates nearly 60 Quadient mailing systems nationwide, recognized the potential to enhance its inbound mail process efficiency. Quadient, its partner and the federal agency were able to jointly identify additional needs leading to the proposal of a new mail processing solution for the organization.

“We are thrilled to deepen our relationship with the U.S. administration through this modernization project,” said Alain Fairise, Chief Solution Officer, Mail Automation for Quadient. “This contract results from the excellent relationships our government team maintains with customers throughout their entire lifecycle, understanding their needs, and building trust through consistent performance and innovation. We continue to be laser-focused on providing innovative solutions that address our customers’ unique challenges, establishing and nurturing high-value partnerships to deliver exceptional results.”

Quadient’s mail automation solutions have a proven track record of helping public organizations streamline their communications and improve service delivery. Quadient solutions enable these organizations to manage both traditional and electronic communications efficiently while ensuring compliance and full tracking of every interaction. This approach not only reduces operational costs but also enhances accuracy and speed, which are critical in highly regulated sectors like government services. Quadient’s close collaboration with its customers allows them to identify new opportunities for innovation and provide tailored solutions that support long-term growth and improved service outcomes.

Quadient’s continued success with large public entities underscores the company’s strategic vision of offering integrated, innovative and compliant solutions that evolve with customer needs. By combining digital platforms with advanced mail automation systems, Quadient not only modernizes processes but also delivers comprehensive support to its clients. The company’s unique ability to cross-sell and up-sell multiple applications to new and existing customers, alongside trusted partner solutions, boosts lifetime value and is expected to drive about 70% of its growth by 2030.

About Quadient®
Quadient is a global automation platform powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing. For more information about Quadient, visit http://www.quadient.com.

Contacts

Sandy Armstrong, Sterling Kilgore	Joe Scolaro, Quadient
Director of Media & Communications	Global Press Relations Manager
+1-630-699-8979	+1 203-301-3673
sarmstrong@sterlingkilgore.com	j.scolaro@quadient.com

Attachment

PR_Mail US federal agency_EN_vdef

The MIL Network –

January 24, 2025

MIL-OSI United Kingdom: expert reaction to study looking at a home-based transcranial direct current stimulation treatment (tDCS) and major depressive disorder

Source: United Kingdom – Executive Government & Departments

October 21, 2024

A study published in Nature Medicine looks at home-based brain stimulation as a possible treatment for major depressive disorder.

Dr Julian Mutz, King’s Prize Research Fellow, King’s College London, said:

“Depression is a common mental health condition that carries a significant disease burden. While medication and psychotherapy are effective, they do not work for every patient and sometimes cause unwanted side effects. Non-invasive brain stimulation techniques, such as transcranial magnetic or electrical stimulation, offer alternative treatment options. A barrier to more widespread use is the need for frequent visits to the clinic, usually five times a week for several weeks. There is considerable interest in transcranial direct current stimulation (tDCS) due to its potential for home-based use. However, data from randomised clinical trials are limited. Prior studies have supported its feasibility but more data are needed to establish efficacy, an important gap that this study addresses. In this phase II trial of 174 patients, the authors show that tDCS was efficacious over a ten-week period, a longer duration than prior home-based trials. Nearly half of the patients receiving tDCS achieved clinical remission, compared to just over 20% in the control group. The treatment also showed a good safety profile, which will provide reassurance to both clinicians and patients. Given that two of the largest randomised controlled trials of tDCS yielded negative results, this trial will undoubtedly contribute to the ongoing discussions about tDCS as a treatment option for depression.

“This is a well-designed trial of tDCS, with sample sizes comparable to those of the largest tDCS trials in the clinic. The trial had appropriate procedures in place to mitigate potential risks of bias and the authors carefully monitored and reported on adverse events and safety. The assessment of efficacy was not limited to clinician ratings but also included patient reported outcomes.

“tDCS is different from electroconvulsive therapy (ECT). ECT involves inducing a seizure and is applied under general anaesthesia. ECT is generally reserved for the most difficult-to-treat patients when other treatment approaches have been unsuccessful. tDCS applies mild electrical stimulation to the scalp while the patient is fully awake.”

Prof Jonathan Roiser, Professor of Neuroscience & Mental Health, UCL, said:

“This paper reports on a moderately large clinical trial of transcranial direct current stimulation (tDCS) for depression. tDCS is a non-invasive brain stimulation method that has been tested in many previous depression trials – with mixed success – and involves delivering a mild electric current to a specific brain region (often, as in this study, to the prefrontal cortex, with electrodes placed on the forehead). tDCS was delivered several times per week for 10 weeks, for half an hour each time. In the “sham” (i.e. placebo) group, patients received only very brief stimulation to mimic the sensation of the active tDCS on the skin, in an attempt to introduce blinding. What was relatively new in this study was the use of a commercially available device patients could use at home by themselves, with remote support from the study team. Patients were told to use the machine five times each week for the first three weeks, reduced to three times each week for the remaining seven weeks. Around two-thirds of the patients were taking antidepressant medication. Some of the study investigators had a financial interest in the company that makes the tDCS device.

“On average, both groups had quite substantial reductions in depressive symptoms (rated by the research team using a standard clinical interview) over 10 weeks. However, there was a greater reduction in the active stimulation group, around half of whom got completely better. This improvement was statistically better than in the sham group, around one-quarter of whom got completely better. The size of the difference was in the small-to-moderate range, which is quite similar to trials of antidepressant medication. The major challenge in interpreting this otherwise promising finding relates to problems with blinding: around three-quarters of the active stimulation group correctly guessed their treatment allocation, while less than half did so in the sham stimulation group. This was probably due to minor side effects caused by the stimulation device; mostly skin redness, which occurred in nearly two-thirds of those receiving active stimulation, but also skin irritation and cognitive problems (trouble concentrating) in a small number of patients. If there was clear skin redness on the forehead, it is possible that the researchers conducting the clinical interviews might also have also guessed the treatment allocation. It is worth noting that a couple of the patients had more serious side effects, specifically skin burns which may have been caused by incorrect use of the device.”

‘Home-based transcranial direct current stimulation treatment for major depressive disorder: a fully remote phase 2 randomized sham-controlled trial’ by Rachel D. Woodham et al. was published in Nature Medicine at 16:00 UK time on Monday 21 October 2024.

DOI: 10.1038/s41591-024-03305-y

Declared interests

Dr Julian Mutz: “I do not have any COIs to report. I have co-authored publications with the senior author in the past, but have not been involved in any collaboration recently.”

Prof Jonathan Roiser: “No interests to declare.”

MIL OSI United Kingdom –

January 24, 2025
MIL-OSI USA: QUIGLEY, DURBIN, DUCKWORTH ANNOUNCE MORE THAN $81 MILLION IN ADDITIONAL FEDERAL FUNDING FOR THE CREATE PROGRAM

Source: United States House of Representatives – Representative Mike Quigley (IL-05)

U.S. Representative Mike Quigley (D-IL-05) and U.S. Senators Dick Durbin (D-IL), and Tammy Duckworth (D-IL) announced $81,301,065 in federal funding through the U.S. Department of Transportation (DOT) INFRA (Nationally Significant Multimodal Freight & Highway Projects) Program for the Chicago Region Environmental and Transportation Efficiency (CREATE) Program, which aims to reduce traffic delays, increase rail junction safety, and improve mobility throughout Chicago.

DOT’s INFRA Grant Program provides federal funding for large projects of regional significance and is funded through the Infrastructure Investment and Jobs Act that the lawmakers worked to pass in 2021.

Last month, Quigley, Durbin, and Duckworth announced $209 million in federal funding for the CREATE Program through DOT’s Mega Grant Program, bringing the total with today’s announced funding to $291,179,049.

“The CREATE Program is fundamentally changing rail operations in Chicago for both commuters and freight. Last month, we secured $209 million in funding for this program. Today’s announcement marks another significant step toward fulfilling CREATE’s mission to improve safety, alleviate congestion, and boost mobility throughout our city,” said Quigley.

“Today’s additional funding announcement is a major investment in the future of our transportation infrastructure. Chicagoans will be better connected because of the CREATE Program, which will improve the safety and quality of our rail system and roadways,” said Durbin. “Senator Duckworth, members of the Illinois Congressional Delegation, and I have long supported these investments, and I’m glad to see these federal dollars go toward improving safety and alleviating congestion in a region that desperately needs it.”

“Investing in our transportation infrastructure is about growing our economy and making it easier, faster, safer and more efficient so people and goods can get where they need to go,” Duckworth said. “This significant federal investment in the CREATE Program—which Senator Durbin, members of the Illinois Delegation and I have been championing for years—will help us modernize our rail system for all Chicagoans while supporting good-paying South Side jobs and strengthening our region’s economy.”

The CREATE Program brings together the City of Chicago, the State of Illinois, the U.S. Department of Transportation, Metra, Amtrak, and the nation’s freight railroads in a partnership to eliminate transit bottlenecks, boost the economy, and improve overall safety of the Chicagoland area.

Today’s announced funding will advance the 75^th Street Corridor Improvement Project, a three-mile elevated rail corridor on Chicago’s South Side, which approximately 90 freight trains and 30 Metra commuter trains use daily. The project will reconfigure track segments and signals at Belt Junction, add a third track to the Norfolk Southern line, replace and restore 14 aging bridge and viaduct structures, and implement mobility improvements on surface streets throughout the corridor.

Quigely, Durbin, and Duckworth have long championed rail improvements, having helped secure $132 million in federal funding to begin this project in 2018.

MIL OSI USA News –

January 24, 2025
MIL-OSI Canada: Celebrating rural success: Minister Sigurdson
Source: Government of Canada regional news

“Small Business Week allows us to celebrate small business and community success in rural Alberta. Rural communities have long played a crucial role in Alberta’s growth and economy. To support them, we continue to implement our Economic Development in Rural Alberta Plan, a five-year commitment to foster rural economic growth in Alberta with a focus on rural business supports and entrepreneurship.

“One of the plan’s key initiatives is the Small Community Opportunity Program. Through this program, we pledged $6 million to provide financial backing for Indigenous and small communities to tackle challenges and tap into opportunities to grow their local economic footprint.

“Through the first round of program funding in 2023-24, we awarded up to $3 million for 43 projects across the province that are on track to develop their local economies by building capacity in the agriculture and small business sectors. Of these projects, 29 were awarded to small communities, three to Indigenous communities and 11 to the non-profit sector.

“Through the plan’s Capacity Building Grant Project, rural economic development organizations like Young Agrarians and Alberta Women Entrepreneurs also received funding to help teach business skills and offer training and mentorship opportunities.

“I encourage all Albertans to join me in celebrating our rural businesses, agricultural societies and the hard-working rural residents who strengthen Alberta’s agriculture, agri-food and agri-based products sector. When our rural communities succeed, Alberta is made stronger.”

Related information
- Alberta’s Rural Economic Development
- Small Community Opportunity Program 2023-24 Grant Recipients
MIL OSI Canada News –
January 24, 2025
MIL-OSI USA: Durbin, Duckworth, Quigley Announce More Than $81 Million In Additional Federal Funding For the CREATE Program

US Senate News:

Source: United States Senator for Illinois Dick Durbin

10.18.24

CHICAGO – U.S. Senate Majority Whip Dick Durbin (D-IL), U.S. Senator Tammy Duckworth (D-IL), and U.S. Representative Mike Quigley (D-IL-05) today announced $81,301,065 in federal funding through the U.S. Department of Transportation (DOT) INFRA (Nationally Significant Multimodal Freight & Highway Projects) Program for the Chicago Region Environmental and Transportation Efficiency (CREATE) Program, which aims to reduce traffic delays, increase rail junction safety, and improve mobility throughout Chicago.

DOT’s INFRA Grant Program provides federal funding for large projects of regional significance and is funded through the Infrastructure Investment and Jobs Act that the lawmakers worked to pass in 2021.

Last month, Durbin, Duckworth, and Quigley announced $209 million in federal funding for the CREATE Program through DOT’s Mega Grant Program, bringing the total with today’s announced funding to $291,179,049.

“Today’s additional funding announcement is a major investment in the future of our transportation infrastructure. Chicagoans will be better connected because of the CREATE Program, which will improve the safety and quality of our rail system and roadways,” said Durbin. “Senator Duckworth, members of the Illinois Congressional Delegation, and I have long supported these investments, and I’m glad to see these federal dollars go toward improving safety and alleviating congestion in a region that desperately needs it.”

“Investing in our transportation infrastructure is about growing our economy and making it easier, faster, safer and more efficient so people and goods can get where they need to go,” Duckworth said. “This significant federal investment in the CREATE Program—which Senator Durbin, members of the Illinois Delegation and I have been championing for years—will help us modernize our rail system for all Chicagoans while supporting good-paying South Side jobs and strengthening our region’s economy.”

“The CREATE Program is fundamentally changing rail operations in Chicago for both commuters and freight. Last month, we secured $209 million in funding for this program. Today’s announcement marks another significant step toward fulfilling CREATE’s mission to improve safety, alleviate congestion, and boost mobility throughout our city,” said Quigley.

The CREATE Program brings together the City of Chicago, the State of Illinois, the U.S. Department of Transportation, Metra, Amtrak, and the nation’s freight railroads in a partnership to eliminate transit bottlenecks, boost the economy, and improve overall safety of the Chicagoland area.

Today’s announced funding will advance the 75^th Street Corridor Improvement Project, a three-mile elevated rail corridor on Chicago’s South Side, which approximately 90 freight trains and 30 Metra commuter trains use daily. The project will reconfigure track segments and signals at Belt Junction, add a third track to the Norfolk Southern line, replace and restore 14 aging bridge and viaduct structures, and implement mobility improvements on surface streets throughout the corridor.

Durbin and Duckworth have long championed rail improvements, having helped secure $132 million in federal funding to begin this project in 2018.

-30-

MIL OSI USA News –

January 24, 2025
MIL-OSI Russia: Liechtenstein: Five Things You May Not Know About the IMF’s Newest Member
Source: IMF – News in Russian

By Rodgers Chawani and Kazuko Shirono

October 21, 2024

Liechtenstein is a winter sports destination and the only doubly-landlocked country in Europe. Find out more about the IMF’s 191st member

The IMF welcomed the Principality of Liechtenstein as its 191st member. Prime Minister Daniel Risch signed the IMF’s Articles of Agreement in a ceremony in Washington, D.C at the beginning of the 2024 Annual Meetings, which the country now attends as a full member.

Five Facts about Liechtenstein
1. Liechtenstein is one of only two doubly landlocked countries worldwide, along with Uzbekistan.
  
  Among six smallest European states—Andorra, Malta, Monaco, San Marino, and Vatican City—Liechtenstein has the third-largest total area at 160 sq. km, comparable to the size of the city of Washington D.C. Liechtenstein is located between Austria and Switzerland in the Alps and is a winter sports destination. About 40,000 people call it home, half of the population of Andorra. Although Liechtenstein’s capital, Vaduz, is the best-known city in the principality, it’s not the largest; next-door Schaan has a larger population.
2. Liechtenstein is a parliamentary constitutional principality with a small civil service.
  
  The 1921 constitution combines monarchy and democratic principles, defining the principality as “a constitutional, hereditary monarchy on a democratic and parliamentary basis.” The government consists of a five-member cabinet nominated by parliament and appointed by the prince for a four-year term. Liechtenstein has 1,500 civil servants, less than 4 percent of the population, significantly lower than the EU average of about 17 percent. Twenty-five members of parliament serve a four-year term.
3. Liechtenstein has the second highest per capita income in Europe, behind Monaco.
  
  Liechtenstein’s per capita income of US$197K/year is substantially higher than that of most other small states and other European countries. High investment in research and development (6.2 percent of GDP) supports a globally-competitive and export-oriented manufacturing sector, which includes machine and tool engineering, plant construction, and precision and dental instruments, contributing to high incomes. The share of industry is high at 42 percent of gross value added, well above the EU average (about 15 percent). The financial sector, mostly based on private banking, wealth management, insurance, and trust services, accounts for about 20 percent of GDP.
4. The number of persons employed in Liechtenstein exceeds its population.
  
  A distinctive feature of Liechtenstein’s economy is the large number of inward, cross-border commuters—from Austria, Germany, and Switzerland. Compared to a population of approximately 40,000, the workforce was 42,500 in 2022. About half of the workforce commutes daily from Switzerland (59 percent of commuters) or Austria (37 percent). Labor force participation is high (76.1 percent, vis-à-vis 74.9 percent in the EU), and the unemployment rate is below 2 percent.
5. Despite its small size, Liechtenstein is globally integrated.
  
  The US, Germany, and Switzerland are among its most important export destinations. As part of the European Economic Area, Liechtenstein has full access to the EU’s single market, including financial markets, under the rules for free movement of services and capital. Building on access to the EU’s financial market and oversight by the European Banking Authority, Liechtenstein’s financial institutions have extended private wealth management networks outside the EU to Asia and the Middle East. Strong economic ties with Switzerland—including use of the Swiss franc—have also fostered trade and labor market integration.
****

Rodgers Chawani is a senior economist and Kazuko Shirono is a deputy chief. Both are in the IMF’s European Department.

https://www.imf.org/en/News/Articles/2024/10/21/cf-five-things-you-may-not-know-about-liechtenstein

MIL OSI
MIL OSI Russia News –
January 24, 2025
MIL-OSI USA: Atlanta Attorney Pleads Guilty in Syndicated Conservation Easement Tax Scheme

Source: US State of Vermont

Attorney is 12th Individual Convicted in Scheme Involving Sale of Over $1.3B in Fraudulent Tax Deductions

A Georgia man pleaded guilty last week to obstructing the IRS related to his participation in the promotion of abusive syndicated conservation easement tax shelters.

According to court documents and statements made in court, Vi Bui was an attorney and partner at Sinnott & Co., an Atlanta-based company. Beginning in at least in 2012 and continuing through at least May 2020, Bui participated in a scheme to defraud the IRS by organizing, marketing, implementing and selling illegal syndicated conservation easement tax shelters created and organized by Jack Fisher, Sinnott and others. For their involvement in the scheme, Fisher and Sinnott were convicted at trial and in January sentenced to 25 and 23 years in prison, respectively.

The scheme entailed the creation of partnerships that would purchase land and land-owning companies and then donate conservation easements over that land or the land itself. Appraisers would allegedly generate fraudulent and inflated appraisals of the conservation easements. The partnerships then claimed a charitable contribution tax deduction based on the inflated value of the conservation easement, resulting in a fraudulent tax deduction flowing to the wealthy clients who purchased units in the partnership. Many of these clients joined the tax shelters after the donation of the interest in land and after the close of the relevant tax year. Bui knew that, to make it appear that the participants had timely purchased their units in the tax shelters, Fisher, Sinnott and others backdated and instructed others to falsify documents, including subscription agreements, checks and other documents. And in at least one instance, Bui falsified documents himself.

Bui anticipated that the syndicated conservation easement transactions would be audited. To deceive the IRS, Bui and others took steps to make the partnerships appear as legitimate real estate development companies. They would create and disseminate lengthy documents disguising the true nature of the transaction, institute sham “votes” for what to do with the land that the partnership owned despite knowing that outcome was predetermined and falsify paperwork, such as appraisals and subscription agreements.

In one instance, when investigators conducted an undercover operation in 2018, Bui, believing that the IRS was auditing an individual’s 2014 tax return, prepared false documents that made it appear that the materials were executed before the purported donation of the conservation easement in 2014 and before the 2014 tax returns had been filed.

Bui earned substantial income for his role in the illegal scheme. He also used the fraudulent tax shelters to evade his own taxes, filing false personal tax returns from 2013 through 2018 that claimed false tax deductions from the illegal syndicated conservation easement tax shelters.

Bui is scheduled to be sentenced on Feb. 13, 2025, and faces a maximum penalty of three years in prison. Bui also faces a period of supervised release, restitution and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

To date, in addition to the convictions of Fisher and Sinnott noted above, nine additional defendants have pleaded guilty to criminal conduct related to the syndicated conservation easement tax shelter scheme, including appraiser Walter Douglas “Terry” Roberts, accountants Stein Agee; Corey Agee, CPA; Ralph Anderson, CPA; James Benkoil, CPA; Victor Smith, CPA; William Tomasello, CPA; Herbert Lewis, CPA; and Attorney Randall Lenz.

Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division, U.S. Attorney Ryan K. Buchanan for the Northern District of Georgia and Chief Guy Ficco of the IRS Criminal Investigation (IRS-CI) made the announcement. They also thanked U.S. Attorney Dena J. King for the Western District of North Carolina for her office’s assistance.

IRS-CI and the U.S. Postal Inspection Service investigated the case.

Trial Attorneys Richard M. Rolwing, Parker Tobin, Jessica Kraft and Nicholas J. Schilling Jr., of the Justice Department’s Tax Division and Assistant U.S. Attorney Christopher Huber and deputy chief of the complex frauds section for the Northern District of Georgia are prosecuting the case.

MIL OSI USA News –

January 24, 2025
MIL-OSI Canada: Robert Vroom named Producer with NFB’s Eastern Documentary Unit in Montreal. Working to strengthen English-language filmmaking across Quebec

Source: Government of Canada News

Veteran film producer Robert Vroom is joining the National Film Board of Canada (NFB) as the new Producer with the Eastern Documentary Unit, Executive Producer Nathalie Cloutier announced today.

October 21, 2024 – Montreal – National Film Board of Canada (NFB)

Veteran film producer Robert Vroom is joining the National Film Board of Canada (NFB) as the new Producer with the Eastern Documentary Unit, Executive Producer Nathalie Cloutier announced today.

Based in Montreal, Rob will work closely with anglophone directors and co-producers in the Montreal region and across Quebec to strengthen English-language non-fiction storytelling.

He brings a deep knowledge of the Quebec film sector to his new post, along with a commitment to collaborating with underrepresented communities and helping to guide inspiring stories to the screen.

Rob has been working in the film and TV industry for over 25 years. After receiving his MFA from the American Film Institute, he emersed himself in television series, both scripted and documentary.

After seven years of living in LA and travelling the world, Rob moved to Vancouver to work on the CSA-nominated documentary series The Beat, where he helped showcase the struggles of the Downtown Eastside. He then went on to be a part of the Webby Award-winning Best Documentary series Heritage and the James Beard Award-nominated feature-length documentary Funke.

In 2012, Rob returned to his hometown of Montreal to start his own production company with the intent to collaborate with auteur filmmakers. His feature film credits include Pat Kiely’s Three Night Stand and Another Kind of Wedding, Jeff Barnaby’s Blood Quantum, and Sarah Watts and Mark Slutsky’s You Can Live Forever.

– 30 –

Stay Connected

Online Screening Room: nfb.ca
NFB Facebook | NFB Twitter | NFB Instagram | NFB Blog | NFB YouTube | NFB Vimeo
Curator’s perspective | Director’s notes

About the NFB

Lily Robert
Director, Communications and Public Affairs, NFB
C.: 514-296-8261
l.robert@nfb.ca

MIL OSI Canada News –

January 24, 2025
MIL-OSI United Kingdom: No such thing as a ‘normal family’

Source: City of York

This year’s National Adoption Week highlights all kinds of adoption journeys.

City of York Council and One Adoption North and Humber, the regional adoption agency for the York, North Yorkshire and the Humber, are supporting this year’s National Adoption Week (21-27 October).

This year’s campaign hopes to increase understanding of modern adoption, the diversity of adoption journeys today and show that ‘the journey to a family is not always a traditional one’.

The campaign will show prospective adopters that they are not alone, by highlighting the ‘village’ that makes every journey unique – from social workers and foster carers to birth families and grandparents – who help support and navigate the journey along the way.

A new survey by You Can Adopt exploring changing attitudes to family life, reveals that in Yorkshire and the Humber, 66 per cent of participants said there’s no such thing as a ‘normal’ family, with nearly half (48%) of people questioned describing themselves as having a ‘chosen family’ and 51 per cent saying they come from a ‘non-traditional’ family structure themselves (such as blended, extended, adoptive, or single parent).

This comes as new adoption data shows that in England, there has been a 22 per cent increase in the number of children with a plan for adoption not yet matched with an adoptive family, alongside a fall in the number of adopters coming forward.

In the North and Humber region there are currently 46 children waiting for their forever home and more than half are part of a group of brothers and sisters. With fewer potential adopters coming forward – believed to largely be a result of the cost-of-living crisis – this means that nearly half (47 per cent) of all children face delays of over 18 months to be placed with an adoptive family.

Tom Maxwell, Head of Agency at One Adoption North and Humber said:

National Adoption Week is always a fantastic opportunity to celebrate and raise the profile of adoption across the country.

“Adoption is a life-changing journey that enriches not only the lives of children but also the families who welcome them.

“Here at One Adoption North and Humber we have 46 children currently in our care who are waiting for their forever home. We urgently need adopters who are ready to embrace the unique bond of adopting siblings, older children and children with diverse needs. Every adoption story is different, shaped by the people who make it possible.

“Modern adoption is about creating new beginnings, celebrating diversity, and building families in ways that are as unique as the children themselves. By stepping forward, you’re opening your heart to the incredible joy and love adoption brings. We look forward to hearing from anyone who is interested in adopting with us.”

Cllr Bob Webb, City of York Council’s Executive Member for Children and Young People, said:

National Adoption Week is a great opportunity for us to shine a light on the pivotal role that adoption has in creating, and growing families across the region.

“We’re always looking for families from all backgrounds who can offer a permanent, caring, forever home to children. I’d urge anyone who’s considering adoption to get in touch or attend one of the regular information events.”

Rachel, who features in the film alongside her two-year-old adopted daughter Winnie, father Daniel and social worker Becky, said:

You have an idea in your head of what family looks like, and for us it’s been different, but even more wonderful in different ways.

“For me, it’s really important that Winnie has a sense of herself and her identity – that she understands that not only do all families look different, but she has more than one family, and that’s OK.”

In support of the campaign, train companies across the country including Hull Trains and Avanti are encouraging more people to start their own adoption journey. From offering free tickets for adoptive families, to changing digital signage at train stations, rail companies are rallying behind the cause in support of everybody who is part of an adoptive family or considering embarking on their own adoption journey

To find out more about adoption or starting your adoption journey with One Adoption North and Humber, visit their website.

One Adoption North and Humber will be holding an online adoption information event during National Adoption Week on Wednesday 23 October between 6pm and 7pm, where the adoption team and an adoptive parent will be on hand to answer your questions. For more information and to book your place, please visit the One Adoption event page.

To find out more about adopting with One Adoption North and Humber visit the One Adoption website or call 0345 305 2576.

MIL OSI United Kingdom –

January 24, 2025

MIL-OSI: Rubis: Transactions carried out within the framework of the share buyback programme (excluding transactions within the liquidity agreement) – 14 to 18 October 2024

Source: GlobeNewswire (MIL-OSI)

Paris, 21 October 2024, 06:00pm

Issuer Name: Rubis (LEI: 969500MGFIKUGLTC9742)
Category of securities: Ordinary shares (ISIN: FR0013269123)
Period: From 14 to 18 October 2024

In accordance with the authorisation granted by the Ordinary Shareholders’ Meeting held on 11 June 2024 to implement a share buyback programme, the Company operated, between 14 and 18 October 2024, the purchases of its own shares in view of their cancelation presented below.

Aggregate presentation per day and per market

Name of issuer	Identification code of issuer (Legal Entity Identifier)	Day of transaction	Identification code of financial instrument	Aggregated daily volume (in number of shares)	Daily weighted average price of the purchased shares*	Market (MIC Code)
RUBIS	969500MGFIKUGLTC9742	14/10/2024	FR0013269123	2,931	25.1214	AQEU
RUBIS	969500MGFIKUGLTC9742	14/10/2024	FR0013269123	19,209	25.2339	CEUX
RUBIS	969500MGFIKUGLTC9742	14/10/2024	FR0013269123	3,736	25.0963	TQEX
RUBIS	969500MGFIKUGLTC9742	14/10/2024	FR0013269123	33,694	25.0730	XPAR
RUBIS	969500MGFIKUGLTC9742	15/10/2024	FR0013269123	3,426	24.9295	AQEU
RUBIS	969500MGFIKUGLTC9742	15/10/2024	FR0013269123	18,686	24.9241	CEUX
RUBIS	969500MGFIKUGLTC9742	15/10/2024	FR0013269123	3,322	24.8144	TQEX
RUBIS	969500MGFIKUGLTC9742	15/10/2024	FR0013269123	34,624	24.8668	XPAR
RUBIS	969500MGFIKUGLTC9742	16/10/2024	FR0013269123	1,623	24.9580	AQEU
RUBIS	969500MGFIKUGLTC9742	16/10/2024	FR0013269123	18,815	24.8383	CEUX
RUBIS	969500MGFIKUGLTC9742	16/10/2024	FR0013269123	1,768	24.8737	TQEX
RUBIS	969500MGFIKUGLTC9742	16/10/2024	FR0013269123	36,185	24.9009	XPAR
RUBIS	969500MGFIKUGLTC9742	17/10/2024	FR0013269123	12,705	25.0118	CEUX
RUBIS	969500MGFIKUGLTC9742	17/10/2024	FR0013269123	36,792	25.0143	XPAR
RUBIS	969500MGFIKUGLTC9742	18/10/2024	FR0013269123	1,028	25.2043	AQEU
RUBIS	969500MGFIKUGLTC9742	18/10/2024	FR0013269123	13,424	25.1421	CEUX
RUBIS	969500MGFIKUGLTC9742	18/10/2024	FR0013269123	205	25.2200	TQEX
RUBIS	969500MGFIKUGLTC9742	18/10/2024	FR0013269123	34,473	25.1522	XPAR
* Four-digit rounding after the decimal			TOTAL	276,646	25.0070

Detailed presentation per transaction

Detailed information on the transactions carried out from 14 to 18 October 2024 is available on the Company’s website (http://www.rubis.fr) in the section “Investors – Regulated information – Share buyback programme”.

	Contact
	RUBIS – Legal Department
	Tel. : + 33 (0)1 44 17 95 95

Attachment

Rubis: Transactions carried out within the framework of the share buyback programme (excluding transactions within the liquidity agreement) – 14 to 18 October 2024

The MIL Network –

January 24, 2025

MIL-OSI: World’s largest investment managers see assets hit $128 trillion in return to growth

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Oct. 21, 2024 (GLOBE NEWSWIRE) — Total assets under management (AUM) at the world’s 500 largest asset managers reached USD 128.0 trillion at the end of 2023, according to new research from leading global advisory, broking and solutions company WTW’s (NASDAQ: WTW) Thinking Ahead Institute.

Despite not yet reaching 2021 levels, this amounts to 12.5% annual growth and marks a significant recovery from the major correction the year before (AUM dropped by $18 trillion in 2022).

The research also reveals the continued evolution of active vs. passive assets under management among the largest investment managers. For the first time, passive investment strategies now account for more than one third of AUM among the 500 largest firms (33.7%), though this still leaves almost two thirds of assets managed by the world’s largest managers in active strategies.

Asset class allocations have also evolved, with renewed growth of private markets. Core equity and fixed income remain the dominant asset classes, comprising 77.3% of total AUM (48.3% equity and 29.0% fixed income). However, this marks a slight decrease of 0.2% compared to the previous year, as investors turned to alternatives such as private equity and other illiquids in search of returns.

Partly down to the recent dominance of US equities as performance drivers, North America experienced the largest growth in AUM with a 15.0% increase, followed closely by Europe (including the U.K.) with a 12.4% rise. Japan saw a slight decline, with AUM decreasing by 0.7%. As a result, North America now accounts for 60.8% of the total AUM in the top 500 managers, with USD 77.8 trillion at the end of 2023.

At the very top of the rankings, U.S. managers make up 14 of the top 20, and account for 80.3% of the assets of the top 20.

Turning to individual asset managers, the research shows that BlackRock remains the world’s largest asset manager, with its assets now above $10 trillion once more. Vanguard Group holds a strong second place at almost $8.6 trillion AUM and both remain significantly ahead of Fidelity Investments and State Street Global – ranked third and fourth respectively.

Notable risers in the full rankings in the last 5 years include Charles Schwab Investment, up 34 places to reach 25^th place from 59^th place. Geode Capital Management, also U.S. based, is up 31 places to reach 23^rd place from 54, while Canada’s Brookfield Asset Management is up 29 places from 60^th to 31^st.

“Asset managers have experienced a year of consolidation and change. While there has been a return to strong market performance, the last year has also seen forces of change,” said Jessica Gao, director at the Thinking Ahead Institute. “Macro factors have played a key part in the story, with notable highs in interest rates during 2023 exerting varied pressure on different asset classes, geographies and investment styles. As this now gradually switches to a rate cutting environment, equity markets are beginning to return positive performance also driven by improving expectations of earnings growth. Uncertainties looking ahead are now focused on geopolitical events and several major elections.

“We have continued to see net flows into passive strategies as they continue to offer a compelling value proposition, particularly in terms of lower fees and simplicity. Yet growing market volatility and issues with concentration, which typically highlights the need for expertise to outperform benchmarks, may be a source of caution from some allocators to passive market trackers.

“Meanwhile, asset managers continue to face major pressure to evolve their own business models. Investment in technology remains essential not just to maintain a market edge, but also to meet evolving client requirements and expectation in reporting and customer service. Increased competition, fee compression, and the growing demand for more personalised, technology-driven investment solutions are challenging traditional structures. We have witnessed notable successes of independent asset managers versus many of the more affiliated insurer-linked vs bank-linked asset managers,” concluded Gao.

The world’s largest money managers as of December 31, 2023
Ranked by total AUM, in U.S. millions.

Rank	Fund	Market	Total Assets (US$)
1.	BlackRock	U.S.	$10,008,995
2.	Vanguard Group	U.S.	$8,593,307
3.	Fidelity Investments	U.S.	$4,581,980
4.	State Street Global	U.S.	$4,127,817
5.	J.P. Morgan Chase	U.S.	$3,422,000
6.	Goldman Sachs Group	U.S.	$2,812,000
7.	UBS	Switzerland	$2,620,000
8.	Capital Group	U.S.	$2,532,813
9.	Allianz Group	Germany	$2,454,495
10.	Amundi	France	$2,250,226
11.	BNY Investments	U.S.	$1,974,322
12.	Invesco	U.S.	$1,585,344
13.	Legal & General Group	U.K.	$1,475,442
14.	Franklin Templeton	U.S.	$1,455,506
15.	Prudential Financial	U.S.	$1,449,673
16.	T. Rowe Price Group	U.S.	$1,444,500
17.	Northern Trust	U.S.	$1,434,500
18.	Morgan Stanley Inv. Mgmt	U.S.	$1,373,456
19.	BNP Paribas	France	$1,364,099
20.	Natixis Investment Managers	France	$1,288,581

Notes to editors:

Figures were the latest available as of Dec. 31, 2023

About the Thinking Ahead Institute

The Thinking Ahead Institute was established in January 2015 and is a global not-for-profit investment research and innovation member group made up of engaged institutional asset owners and service providers committed to changing and improving the investment industry for the benefit of the end saver. It has over 55 members around the world and is an outgrowth of WTW Investments’ Thinking Ahead Group, which was set up in 2002.

About WTW Investments

WTW’s Investments is an investment advisory and asset management firm focused on creating financial value for institutional investors through its expertise in risk assessment, strategic asset allocation, fiduciary management and investment manager selection. It has over 900 colleagues worldwide, more than 1,000 investment clients globally, assets under advisory of over US$4.7 trillion and US$187 billion of assets under management.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

Learn more at wtwco.com

Media contacts

Ed Emerman: +1 609 240 6766
eemerman@eaglepr.com

Ileana Feoli: +1 212 309 5504
Ileana.feoli@wtwco.com

The MIL Network –

January 24, 2025

MIL-OSI Economics: Samsung Health App Update Makes Accessing Health Records, Managing Medications and Food Tracking Easier

Source: Samsung

Samsung is committed to empowering users’ health routines with a seamlessly connected ecosystem of personalized wellness experiences. Samsung Health makes this possible by bringing together fragmented health data into a consolidated platform, enabling users to easily monitor their wellbeing.
To further this mission, Samsung Health now offers expanded health management capabilities1, enabling users to easily access their health records, effectively manage medications, and track their daily food intake with convenience – all through the latest Samsung Health app update available starting today. To bring these advancements to life, Samsung has partnered with industry leading companies specializing in health data integration, medications tracking, and food barcode scanning, optimizing the experience in select markets.
Manage Health Record from a Single, Secure Place

With a new Health Records feature2, users can easily access medical records from clinics, hospitals, and major health networks — all in the Samsung Health app. Samsung has partnered with b.well Connected Health, a platform that consolidates the largest electronic medical record (EMR) systems in the United States. including athenahealth, Cerner Health, Epic Systems and Veradigm®. The Health Records feature guides users toward preventative care by offering meaningful insights and alerts that suggest next steps, such as recommending medical tests or actions. By offering a holistic view of their health history ─ including vaccination and prescription records, past hospital visits, and even specific test results ─ users can more effectively communicate with their healthcare providers by having their important medical details at their fingertips.
Advanced Medications Tracking Expands to More Users

Launched in the U.S. last year, the Medications tracking feature3 has allowed users to easily keep a record of medications, and access relevant tips and information including general descriptions, potential side effects, and warnings about drug interactions or food-related reactions. The feature is one of the most frequently used among Samsung Health app users in the U.S., with around two-thirds returning to manage their medications at least three times per week. Through the latest update, the Medications tracking feature allows more users to easily manage their medications with expanded functionalities and availability. With the visual search, users can easily add medications to their personal medication list by simply scanning the pill bottle with their phone camera. They can also check adherence levels and easily monitor medication progress, including details on dosage schedules or a missed dose, through an intuitive dashboard.

Medications tracking feature is also expanding to South Korea and India, forging strategic initiatives with leading regional partners to offer insightful information to even more users. In the U.S., through its partnership with Elsevier, a globally recognized healthcare data hub, the Samsung Health app also provides warnings for over 960 types of allergies and potential reactions to medications. In Korea, with Korea Pharmaceutical Information Center (KPIC), an authoritative institute under the Korean Pharmaceutical Association, users can receive warnings about medications to avoid during pregnancy. Plus, in India, through a collaboration with Tata 1mg, India’s leading digital consumer healthcare platform, users can not only receive reminders to refill medications, but conveniently do so online when needed.
Effortlessly Monitor Food Intake with Barcode Scanning

It is essential to monitor one’s daily dietary intake and establish healthy eating habits. Barcode scanning has now been added to the Food tracker in Samsung Health, making it even easier to log food details such as names, calories and nutrition facts. In partnership with fatsecret, one of the largest global providers of verified food and nutrition data, users can simply scan food barcodes to receive necessary nutritional information automatically in the app. The feature will first be available in the U.S. and select European countries, including France, Germany, Italy, the Netherlands and Poland, and expand to additional markets in the future.
Samsung is dedicated to shaping the future of comprehensive health management and continuously optimize wearable technology to bring smarter, more personalized solutions for everyday wellness. These advancements strengthen the foundation of Samsung’s digital health platform, and with other innovations, deliver more meaningful and impactful experiences globally.

MIL OSI Economics –

January 24, 2025
MIL-OSI United Kingdom: UK infrastructure companies visit Costa Rica to explore opportunities
Source: United Kingdom – Executive Government & Departments

British Embassy officials facilitated meetings with key stakeholders in the infrastructure sector.
Representatives of five British companies travelled to Costa Rica this week to participate in an infrastructure mission focused on identifying business opportunities and generating strategic alliances with potential partners in Costa Rica.

Representatives from Arup, Bechtel, QGMI, Steer Group and WSP, world-renowned for their expertise in engineering, construction, mobility solutions, and design and implementation of infrastructure projects, among other services, held meetings with Congresswoman Carolina Delgado, Secretary of the Infrastructure Commission of the Legislative Assembly, and with officials from the National Concessions Council (CNC), the Ministry of Public Works and Transport (MOPT) and the firm Arias Law.

They also spoke with officials from institutions like the Ministry of National Planning and Economic Policy (MIDEPLAN), the Costa Rican Electricity Institute (ICE) and the Ministry of Foreign Trade (COMEX) at a reception at the Residence of the British Ambassador, Ben Lyster-Binns.

At these meetings, the British companies explored opportunities to strengthen their presence in the country, learning more about Costa Rica’s aspirations to update and expand infrastructure projects at the highest international standards.

Ambassador Ben Lyster-Binns noted:

The companies that visited us this week are among the leaders in their respective fields and represent the best of what the UK has to offer in the infrastructure sector, from urban planning to sustainable transport projects to designing future-proof cities.

They are also committed to implementing innovative solutions that support the UK Government’s clean growth agenda.

The topic of public-private partnerships (PPPs) was of particular interest, since, according to the Embassy’s Director for Business and Trade, Camila Toscana:

this model provides an opportunity to develop infrastructure projects that are of key importance for Costa Rica’s sustainable growth and to improve the quality of life of the citizens.

Many of the companies that took part in the mission have offices in the Latin American region, so their interest in the Costa Rican market represents a natural step in expanding their regional presence, offering quality solutions that comply with international best practices.

The delegation finalized the mission meeting with representatives of CoST, the Infrastructure Transparency Initiative, financed by the UK Government, which promotes transparency and accountability in public infrastructure projects.

Share this page

The following links open in a new tab

Share on Facebook (opens in new tab)

Share on Twitter (opens in new tab)

Updates to this page

Published 21 October 2024
MIL OSI United Kingdom –
January 24, 2025
MIL-OSI USA: Congressman Mfume, Team Maryland Announce More Than $38 Million for Critical Transportation & Port Infrastructure Projects in Baltimore
Source: United States House of Representatives – Congressman Kweisi Mfume (MD-07)

WASHINGTON, D.C. – U.S. Congressman Congressman Kweisi Mfume, Senators Ben Cardin and Chris Van Hollen, Governor Wes Moore (all D-Md.), and Maryland Transportation Secretary Paul J. Wiedefeldtoday announced $38,406,076 in U.S. Department of Transportation awards to rehabilitate the Dundalk Marine Terminal and the Curtis Creek Drawbridge. This investment will improve vital infrastructure at and around the Port of Baltimore, which is critical to Maryland’s economy.

“This monumental federal investment is a transformative display of the continued unity among us in Team Maryland to deliver for all of those who have been personally affected by the collapse of the Francis Scott Key Bridge and continue to navigate the recovery alongside us. After speaking with so many of those impacted, I was and remain inspired by their grit, fierceness, and commitment to getting through this disaster together,” said Congressman Kweisi Mfume.

“With these grants, the federal government is recognizing that Baltimore is home to nationally significant supply chain infrastructure that is overdue for investment and improvement. We are seeing once again how the Biden-Harris Administration’s historic Infrastructure Investment and Jobs Act is delivering for Maryland, and we will continue to push for federal commitments to our infrastructure, including the rebuilding of the Francis Scott Key Bridge,” said Senator Cardin.

“Through the Infrastructure Investment and Jobs Act, we continue to deliver historic resources to upgrade everything from our transportation network to the Port of Baltimore. With these major federal investments, we are priming the Port for future growth – while sustaining the thousands of jobs it already supports – and modernizing an essential bridge for commuting and commerce. These efforts will help drive Baltimore’s economic success and create more good paying jobs for Marylanders,” said Senator Van Hollen.

“These two projects reinforce the Moore-Miller Administration’s commitment to making Maryland more competitive by investing in our critical infrastructure, including our world-class Port of Baltimore,” said Governor Moore. “We are grateful for the partnership from the Biden-Harris Administration, the U.S. Department of Transportation and our Congressional delegation in supporting projects that will serve all Marylanders and help expand our growing economy.”

“Together, these federal grants will support increased economic growth at the Port of Baltimore and the greater Baltimore region,” said Secretary Wiedefeld. “The funding will support critical rehabilitation efforts at the Dundalk Martine Terminal, the largest publicly owned terminal in the Port, and the Curtis Creek Drawbridge on I-695. Thank you to our federal delegation and partners for their continued commitment in rebuilding Baltimore’s infrastructure better than before.”

“Thanks to the Bipartisan Infrastructure Law, the Biden-Harris administration is carrying out ambitious, complex transportation projects that will shape our country’s infrastructure for generations to come,” said U.S. Transportation Secretary Pete Buttigieg. “With this latest round of awards, dozens of major and much-needed projects – projects that are often difficult to fund through other means – are getting the long-awaited investment they need to move forward.”

The funding was awarded by the U.S. Department of Transportation’s Infrastructure for Rebuilding America Grant Program (INFRA), which has administered historic levels of federal investments through the Infrastructure Investment and Jobs Act.
1. $30,906,076, Dundalk Marine Terminal: Awarded to the Maryland Port Administration to reconstruct Berth 11, consisting of the rehabilitation and replacement of 597 linear feet of wharf deck including pilings, substructure, storm water drainage, utilities, and installation of new mooring bollards, cleats, pneumatic fenders, flood barriers, and tidal gates.
1. $7,500,000, Curtis Creek Drawbridge Rehabilitation: Awarded to the Maryland Transportation Authority to rehabilitate parallel drawbridges over Curtis Creek on I-695. The project will replace portions of the reinforced concrete deck, perform repairs to the exposed steel superstructure and existing catwalks, remove and replace bridge parapets, traffic lights, and low-level lights, and install new electrical service systems, drainage systems, and pavement markings.
The Infrastructure for Rebuilding America Grant Program provides funding for multimodal freight and highway projects of national or regional significance to improve the safety, efficiency, and reliability of the movement of freight and people in and across rural and urban areas.

###

MIL OSI USA News –
January 24, 2025
MIL-OSI Security: Lancaster Man Sentenced for COVID Relief Fraud

Source: Federal Bureau of Investigation (FBI) State Crime News

BUFFALO, NY – U.S. Attorney Trini E. Ross announced today that Larry Jordan, 45, of Lancaster, NY, who was convicted of conspiracy to commit bank fraud and wire fraud for his participation in a scheme to file fraudulent loan applications seeking forgivable Paycheck Protection Program (PPP) loans, was sentenced to serve 18 months in prison by U.S. District Judge John L. Sinatra, Jr. Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division, joined the announcement.

According to court documents, between April and September 2020, Jordan and his brother Sutukh El a/k/a Curtis Jordan a/k/a Hugo Hurt a/k/a Hugo Hermes Hurtington, conspired to submit eight fraudulent PPP loan applications on behalf of companies they owned or controlled. Three of the applications were submitted to Evolve Bank & Trust and the other five were submitted to Lendio, a financial technology company based in Utah. The applications contained false statements about the 2019 payroll expenses of each company, which were used to calculate the amount of PPP funds to which the applicant-companies would be entitled. To corroborate the applications, Jordan and El submitted IRS forms, which had never been filed with the IRS, as well as fraudulent payroll registers that purported to identify the names, personal information, and salary of the employees identified on the PPP applications.

For example, a PPP loan application was submitted on behalf of 5 Stems Inc to Evolve. The application represented that in 2019, 5 Stems Inc had 194 employees and an average monthly payroll of $242,133.33. In truth, 5 Stems Inc had nine employees in 2019 and paid those employees a total of approximately $57,380 for all of 2019. Evolve approved the application and funded a $605,200 loan. The money was deposited into an account controlled by defendant El. Some of the money was used for the defendants’ own investments, as well as personal expenses and home improvements.

Sutukh El was previously convicted and is awaiting sentencing.

This case was investigated by the Federal Deposit Insurance Corporation’s Office of Inspector General, the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection’s Office of the Inspector General, the Federal Housing Finance Agency’s Office of the Inspector General, the Federal Bureau of Investigation, and the Small Business Administration’s Office of Inspector General. Assistant U.S. Attorneys Charles Kruly and Grace Carducci for the Western District of New York and Trial Attorneys Ariel Glasner and Della Sentilles of the Criminal Division’s Fraud Section are prosecuting the case.

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

# # # #

MIL Security OSI –

January 24, 2025
MIL-OSI: Volta Finance Limited – Net Asset Value(s) as at 30 September 2024
Source: GlobeNewswire (MIL-OSI)

Volta Finance Limited (VTA / VTAS)
September 2024 monthly report

NOT FOR RELEASE, DISTRIBUTION, OR PUBLICATION, IN WHOLE OR PART, IN OR INTO THE UNITED STATES

Guernsey, October 21^st, 2024

AXA IM has published the Volta Finance Limited (the “Company” or “Volta Finance” or “Volta”) monthly report for September 2024. The full report is attached to this release and will be available on Volta’s website shortly (http://www.voltafinance.com).

Performance and Portfolio Activity

Dear investors,

Volta Finance recorded a net performance of +2.3% in September bringing the year-to-date return to +13.5%. This positive performance is built on the strong performance of its CLO equity investments through the month, Volta being almost fully invested in CLO Equity and debt tranches.

Markets found some momentum in September on the back of a rather constructive macro backdrop. In Europe, inflation headline numbers dropped to 1.8% YoY and were below the 2% target for the first time in almost three years. Core inflation also came in lower and beat estimates with 2.7% YoY, opening the door for further cut rates possibly as early as October. In the US, the Fed implemented a 50bp rate cut by mid-month while the US flash PMIs showed economic resilience at 54.4 (vs. 54.3 expected).

Credit markets were relatively stable despite some volatility intra-month, High Yield indices in Europe (Xover) were marginally wider following the index’s roll in the +315bps context while the US CDX High-Yield one settled at c. +330bps (+8bps MoM). On the Loan side, Euro Loans closed 25 cents down at c. 97.60px (Morningstar European Leveraged Loan Index), their US counterparts were trading flat at 96.70px.

Primary CLO markets remained extremely busy once again, we recorded circa USD 42bn of issuance in the US and EUR 7bn in Europe. Spreads moved sideways across the capital structure with AAAs pricing +130bps context and non-Investment Grade BB-rated tranches at +600bps in Europe (inside +550 for top tier US bonds).

Looking at fundamentals, both US and European default rates were roughly unchanged at 0.80% while the proportion of CCC-rated Loans within CLO collateral portfolios was slightly lower at 5.4% in US CLOs and slightly higher at 3.7% in Europe, while Loan repayment rates were stable at 26% in the US (-2% YoY growth rate of the Loan market) and 14% in Europe (+6% YoY growth). .

Volta Finance’s activity over the month was focused on CLO Equity. $7mm of USCLO Equity were purchased as well as tickets of c. €1.4m in a Reset and €2.0mm in Secondary. Also, 2 transactions in which Volta is invested were reset through the month generating mark-to-market gains for Volta in addition to the strong distribution generated by the closing of one European CLO warehouse.

CLO debt investments performed in excess of their carry, driven by some spread compression. Overall, the cashflow generation over the last 6 months remained strong at c.€30m equivalent of interests and coupons, representing c.23% of the month’s NAV on an annualized basis.

Volta’s underlying sub asset classes monthly performances** were as follow: +1.1% for Bank Balance Sheet transactions, +4.1% for CLO Equity tranches, +1.4% for CLO Debt tranches and 0.0% for Cash Corporate Credit & ABS^***, cash representing c.4% of NAV. The fund being c.26% exposed to USD, the depreciation of USD vs EUR had a negative impact of -0.2% on the overall performance.

As of end of September 2024, Volta’s NAV was €261.9m, i.e. €7.16 per share.

*It should be noted that approximately 0.44% of Volta’s GAV comprises investments for which the relevant NAVs as at the month-end date are normally available only after Volta’s NAV has already been published. Volta’s policy is to publish its NAV on as timely a basis as possible to provide shareholders with Volta’s appropriately up-to-date NAV information. Consequently, such investments are valued using the most recently available NAV for each fund or quoted price for such subordinated notes. The most recently available fund NAV or quoted price was 0.24% as at 31 August 2024, 0.20% as at 31 July 2024.

** “performances” of asset classes are calculated as the Dietz-performance of the assets in each bucket, taking into account the Mark-to-Market of the assets at period ends, payments received from the assets over the period, and ignoring changes in cross-currency rates. Nevertheless, some residual currency effects could impact the aggregate value of the portfolio when aggregating each bucket.
*** The cash Corporate Credit and ABS bucket is currently made of 3 legacy assets representing 0.6% of GAV.

CONTACTS

For the Investment Manager
AXA Investment Managers Paris
François Touati
francois.touati@axa-im.com
+33 (0) 1 44 45 80 22

Olivier Pons
Olivier.pons@axa-im.com
+33 (0) 1 44 45 87 30

Company Secretary and Administrator
BNP Paribas S.A, Guernsey Branch
guernsey.bp2s.volta.cosec@bnpparibas.com
+44 (0) 1481 750 853

Corporate Broker
Cavendish Securities plc
Andrew Worne
Daniel Balabanoff
+44 (0) 20 7397 8900

*****
ABOUT VOLTA FINANCE LIMITED

Volta Finance Limited is incorporated in Guernsey under The Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange’s Main Market for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.

Volta’s Investment objectives are to preserve its capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis. The Company currently seeks to achieve its investment objectives by pursuing exposure predominantly to CLO’s and similar asset classes. A more diversified investment strategy across structured finance assets may be pursued opportunistically. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.

*****

ABOUT AXA INVESTMENT MANAGERS
AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 2,700 professionals and €844 billion in assets under management as of the end of December 2023.

*****

This press release is published by AXA Investment Managers Paris (“AXA IM”), in its capacity as alternative investment fund manager (within the meaning of Directive 2011/61/EU, the “AIFM Directive”) of Volta Finance Limited (the “Volta Finance”) whose portfolio is managed by AXA IM.

This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are “U.S. persons” for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. Volta Finance does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.

*****

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.

*****
This press release contains statements that are, or may deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “anticipated”, “expects”, “intends”, “is/are expected”, “may”, “will” or “should”. They include the statements regarding the level of the dividend, the current market context and its impact on the long-term return of Volta Finance’s investments. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Volta Finance’s actual results, portfolio composition and performance may differ materially from the impression created by the forward-looking statements. AXA IM does not undertake any obligation to publicly update or revise forward-looking statements.

Any target information is based on certain assumptions as to future events which may not prove to be realised. Due to the uncertainty surrounding these future events, the targets are not intended to be and should not be regarded as profits or earnings or any other type of forecasts. There can be no assurance that any of these targets will be achieved. In addition, no assurance can be given that the investment objective will be achieved.

The figures provided that relate to past months or years and past performance cannot be relied on as a guide to future performance or construed as a reliable indicator as to future performance. Throughout this review, the citation of specific trades or strategies is intended to illustrate some of the investment methodologies and philosophies of Volta Finance, as implemented by AXA IM. The historical success or AXA IM’s belief in the future success, of any of these trades or strategies is not indicative of, and has no bearing on, future results.

The valuation of financial assets can vary significantly from the prices that the AXA IM could obtain if it sought to liquidate the positions on behalf of the Volta Finance due to market conditions and general economic environment. Such valuations do not constitute a fairness or similar opinion and should not be regarded as such.

Editor: AXA INVESTMENT MANAGERS PARIS, a company incorporated under the laws of France, having its registered office located at Tour Majunga, 6, Place de la Pyramide – 92800 Puteaux. AXA IMP is authorized by the Autorité des Marchés Financiers under registration number GP92008 as an alternative investment fund manager within the meaning of the AIFM Directive.

*****

Attachment
- Volta – Monthly report- September 2024
The MIL Network –
January 24, 2025
MIL-OSI: The Riverside Company Signs Definitive Agreement to Sell Its PFB Insulation Products Business to Carlisle Companies

Source: GlobeNewswire (MIL-OSI)

CLEVELAND, Oct. 21, 2024 (GLOBE NEWSWIRE) — The Riverside Company, a global investment firm focused on the smaller end of the middle market, together with its portfolio company PFB Corporation (PFB), is pleased to announce the firm has signed a definitive agreement to sell PFB’s Plasti-Fab and Insulspan business units to Carlisle Companies Incorporated (NYSE: CSL). The sale price for the business is approximately USD $260 million, and the transaction is expected to close in Q4 2024.

Headquartered in Calgary, Alberta, PFB is a leading vertically integrated provider of Expanded Polystyrene (EPS)-based insulation products throughout North America. PFB’s Plasti-Fab division operates eight manufacturing facilities in Canada and three locations in the Midwestern U.S. and provides a full suite of EPS building materials and insulation products, including roofing and wall panels, insulated concrete forms and geofoam blocks for infrastructure applications. The Insulspan business unit designs and manufactures Structural Insulated Panels (SIPs) that lower construction costs and improve energy efficiency for residential and commercial buildings. The company sells its products into the reseller, distributor, contractor, builder and infrastructure channels. Following the sale, PFB will retain and continue to operate its PFB Custom Homes Group subsidiary.

Since taking PFB private in December 2021, Riverside worked closely with the PFB leadership team to expand distribution and invest in automation and increased manufacturing capacity. With these initiatives, PFB’s earnings more than doubled during Riverside’s investment period, and the enterprise value of the business tripled.

Robert Graham, PFB CEO, said, “We greatly appreciate Riverside’s support and partnership as we’ve executed our strategic growth plan over the past three years. We’re also incredibly proud of the hard work and commitment to excellence demonstrated by the entire PFB team in reaching this milestone. Our insulation products business fits very well strategically with Carlisle, and we are thrilled to join the Carlisle Companies to contribute to their continued growth.”

Sean Ozbolt, Riverside Managing Partner, added, “It has been extremely rewarding to partner with Rob and the PFB team. On behalf of our investors, we’re grateful for the vision and strong execution by PFB’s leadership.” PFB was the first Riverside company to partner with Ownership Works, a non-profit organization committed to facilitating broad-based employee ownership across private equity portfolio companies.

Houlihan Lokey acted as financial advisor to PFB and Paul Hastings and Blakes acted as legal counsel in connection with the transaction.

The Riverside Company
The Riverside Company is a global private equity firm focused on investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has made more than 1,000 investments. The firm’s international private equity and structured capital portfolios include more than 140 companies. For more information, visit http://www.riversidecompany.com

Contact:
Holly Mueller
Marketing Consultant
The Riverside Company
216 535 2236
hmueller@riversidecompany.com

The MIL Network –

January 24, 2025
MIL-OSI: Bitget Announces the Listing of Scroll (SCR) in the Innovation, Zk and Layer2 Zone

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Oct. 21, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, announced the listing of Scroll (SCR) in its Innovation, Zk and Layer2 Zone. This listing will now make SCR tokens available on spot. Deposits are currently open, and trading will be available starting on October 22, 2024, at 08:00 (UTC), following the conclusion of pre-market trading that began in September. The available trading pairs include SCR/USDT and SCR/EUR.

Scroll is a security-focused scaling solution for Ethereum, using innovations in scaling design and zero knowledge proofs to build a new layer on Ethereum. Scroll presents a solution for developers seeking to leverage the security and decentralization of Ethereum without the limitations of its base layer. With its focus on scalability, affordability, and developer experience, Scroll contributes to the growth and evolution of blockchain technology.

The SCR token plays a crucial role in Scroll’s ecosystem, marking a key milestone toward the platform’s decentralization. With a total supply of 1 billion tokens, SCR supports governance, proof generation, and sequencing within the Scroll ecosystem.

Bitget previously listed the SCR token in its Pre-market on September 20, enabling users to make early investments before the coin is listed on major exchanges. Currently, SCR is trading at 1.42 USDT in the Bitget Pre-market, with total trading volume approaching 2 million USDT. The SCR Pre-market will close prior to the launch of spot trading on Bitget, with deliveries occurring a few hours afterwards.

To celebrate the Scroll’s listing, Bitget is launching a special 7-day promotion. During this limited-time offer, users can purchase SCR using credit or debit cards with 0% fees. This promotion covers over 140 currencies, including EUR, GBP, AUD, TWD, UZS, UAH, TRY, THB, BRL, PLN, IDR, PHP, CAD, and more.

This listing is part of Bitget’s broader strategy to expand beyond derivatives and include a diverse range of coins, granting exceptional access to different digital assets within the industry. The platform’s Innovation Zones have been pivotal in offering users early access to emerging tokens, enhancing their exposure in the cryptospace. The inclusion of SCR in Bitget’s innovation zone makes it easier for users to dive into the initial launch phases of the token including more upcoming crypto projects.

In 2024, Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. With a focus on providing users with opportunities to invest in a variety of projects, the platform is now one of the top 10 crypto spot trading platforms with over 800 coins and over 900 pairs, including tokens from ecosystems such as TON, Ethereum, Solana, Base and more.

For more information on SCR tokens, please visit here.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading, AI bot and other trading solutions. Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including being the Official Crypto Partner of the World’s Top Professional Football League, LALIGA, in EASTERN, SEA and LATAM, as well as a global partner of Olympic Athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

For more information, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice. For more information, see our Terms of Use.

Contact

PR team

media@bitget.com

The MIL Network –

January 24, 2025
MIL-OSI USA: Schakowsky, Warren, Welch Push to Increase Funding for Medical Research, Require Law-Breaking Drug Companies to Reinvest in NIH and FDA
Source: United States House of Representatives – Congresswoman Jan Schakowsky (9th District of Illinois)

Bill applies to pharmaceutical companies who are found guilty or are accused of breaking the law and settle with the federal government.
Full Text of Bill (PDF) | One Pager (PDF)

EVANSTON – U.S. Representative Jan Schakowsky (IL-09), along with U.S. Senators Elizabeth Warren (D-MA) and Peter Welch (D-VT) introduced the Medical Innovation Act of 2024 to increase funding for medical innovation by requiring large pharmaceutical companies that are accused of breaking the law and settle with the federal government to reinvest a percentage of their profits into the National Institutes of Health (NIH) and the U.S. Food and Drug Administration (FDA).

In 2023, the NIH only had funds for 23% of the applications it received, contributing to a huge medical innovation gap. At the same time, pharmaceutical companies have been accused of defrauding Medicare and Medicaid, marketing drugs for unapproved uses, illegally incentivizing doctors to prescribe drugs, lying about the safety of their drugs, and violating other criminal and civil laws. The companies have settled many of these claims with the federal government, treating the fines as a cost of doing business. Most recently, Teva Pharmaceuticals agreed to pay the Justice Department $450 million to settle a set of lawsuits alleging that the company defrauded Medicare and conspired with other drug-makers to illegally inflate the prices of two generic drugs.

Between 2019 and October 2024, the Department of Justice pursued new actions against or settled cases with at least 40 pharmaceutical companies.

The Medical Innovation Act would:
- Require pharmaceutical companies accused of breaking the law to reinvest a small percentage of their profits in NIH and FDA. These payments would increase with the severity of the settlement penalty, and would only be required of companies that rely on federally-funded research to develop billion-dollar, “blockbuster” drugs.
- Invest in life-saving medical innovation through the NIH and FDA. Payments collected through this bill would be used to develop treatments and diagnostics to address unmet medical needs; support research grants for early career scientists; research diseases that disproportionately contribute to federal health care spending; and advance basic biomedical research, among other uses.
- Promote sustained investments in biomedical research. To ensure that the Act results in a net increase in funding for medical research, money from the supplemental settlement fees would only be available in years that annual appropriations for NIH and FDA are equal to or greater than appropriations for the agencies in the prior fiscal year.
“For too long, drug companies that rely on federally-funded research to develop their blockbuster drugs have gotten away with defrauding consumers and taxpayers,” said Congresswoman Jan Schakowsky. “The Medical Innovation Act would make it more difficult for these drug companies to game the system by requiring them to provide a share of their profits to increase investments in biomedical research at the National Institutes of Health and the Food and Drug Administration. We can continue to be a leading force in medical innovation and this legislation will help ensure that we have the means to cure diseases and save lives.”

“Big Pharma shouldn’t be able to defraud the federal government and get away with just a slap on the wrist,” said Senator Elizabeth Warren. “This bill will help us save lives by ensuring giant drug companies that enter into settlement agreements with the federal government chip in to fund the next generation of medical research.”

“The Medical Innovation Act is a commonsense way to advance more medical research by holding shady pharmaceutical companies accountable when they break the law,” said Senator Peter Welch. “I led this bill as a member of the House and am fighting today with my colleagues Senator Warren and Representative Schakowsky to maintain America’s leadership in biomedical science.”

This bill is endorsed by the following organizations: National Women’s Health Network, AIDS United, University of Massachusetts Medical School, Society of Behavioral Medicine, Families USA, Public Citizen, and Massachusetts Medical Society.

“The Medical Innovation Act reinvests in vital research. This legislation is a crucial step toward holding the pharmaceutical industry accountable while ensuring that taxpayer-funded research leads to tangible advancements in health. With women historically underrepresented in clinical trials, it’s imperative that we close the innovation gap. The Network thanks Senator Elizabeth Warren for her leadership on this issue and we are hopeful that together, we can create a healthier future for all women,” said Denise Hyater-Lindenmuth, Executive Director, National Women’s Health Network.

###
MIL OSI USA News –
January 24, 2025
MIL-OSI: First American Bank Invests in the Miami Community with New Branch Location

Source: GlobeNewswire (MIL-OSI)

Conveniently Located Near Key Landmarks, New Branch Enhances Services for Hialeah Customers

MIAMI, Oct. 21, 2024 (GLOBE NEWSWIRE) — First American Bank is moving their Hialeah branch from 611 W 49th Street Hialeah, FL to a newly designed location at 1437 W 49th Street. “The new branch provides space to accommodate our growing team and better support our customers with the personal attention and comprehensive financial services they deserve,” said Guillermo Diaz-Rousselot, First American Bank’s Miami market President.

After 40-plus years in Hialeah, the Bank purchased this new location—just a few blocks away—cementing their presence in the Miami community. The branch will open on Monday, October 21, 2024, with Ismael Manuel Gil as Vice President and Market Manager.

“The great part about this move,” shared Gil, “is that we will be more centrally located, and closer to the Westland Mall, Miami Dade College, and the Palmetto expressway, making it more convenient for current customers and further increasing our appeal to new ones.”

As a leading financial institution with more than $7 billion in assets, First American Bank is committed to helping customers move confidently forward by providing personalized assistance and supporting community development. “This new location allows us to enhance our clients’ banking experience, including providing tailored solutions, business referrals, and account-opening services for foreign nationals,” Gil added.

The network of Florida branches is led by Rodolfo Lleonart, Executive Vice President, and supported by various teams of specialists, including Brian Hagan, Florida Market President for Commercial Lending; John Olsen, Executive Vice President for Commercial Real Estate; Karina Valido, Vice President and Private Client Advisor for Wealth Management; and Joel De Jesus, SBA Assistant Program Manager for SBA loans.

“We are proud to continue providing banking services and solutions to the Hialeah community that we so appreciate,” said Lleonart. “We look forward to seeing our valued customers and guests visit our new branch location.”

Contact Hialeah Market Manager Ismael Manuel Gil at (786) 457-3937 or igil@firstambank.com.

About First American Bank

First American Bank is a full-service bank with $7 billion in assets and 60 branches and offices serving Miami, Tampa, Chicago, and Milwaukee. They are committed to creating solutions, providing exceptional customer service, and providing unmatched expertise in commercial banking, wealth advisory, and personal finance solutions.

First American Bank is a Member FDIC.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d32320bf-26ed-4df7-8535-92ab3686c3c5

The MIL Network –

January 24, 2025
MIL-OSI Economics: High-level visit to the Busia One Stop Border Post (OSBP) and study tour on the impact of the East African Community (EAC) on fostering regional…

Source: African Development Bank Group
What: High-level visit to the Busia One Stop Border Post (OSBP) and study tour on the impact of the East African Community (EAC) on fostering regional trade and integration, and empowering women traders
Who: African Development Bank Group and Mano River Union (MRU) Secretariat

MIL OSI Economics –

January 24, 2025
MIL-OSI Security: Security News: Atlanta Attorney Pleads Guilty in Syndicated Conservation Easement Tax Scheme

Source: United States Department of Justice 2

A Georgia man pleaded guilty last week to obstructing the IRS related to his participation in the promotion of abusive syndicated conservation easement tax shelters.

According to court documents and statements made in court, Vi Bui was an attorney and partner at Sinnott & Co., an Atlanta-based company. Beginning in at least in 2012 and continuing through at least May 2020, Bui participated in a scheme to defraud the IRS by organizing, marketing, implementing and selling illegal syndicated conservation easement tax shelters created and organized by Jack Fisher, Sinnott and others. For their involvement in the scheme, Fisher and Sinnott were convicted at trial and in January sentenced to 25 and 23 years in prison, respectively.

The scheme entailed the creation of partnerships that would purchase land and land-owning companies and then donate conservation easements over that land or the land itself. Appraisers would allegedly generate fraudulent and inflated appraisals of the conservation easements. The partnerships then claimed a charitable contribution tax deduction based on the inflated value of the conservation easement, resulting in a fraudulent tax deduction flowing to the wealthy clients who purchased units in the partnership. Many of these clients joined the tax shelters after the donation of the interest in land and after the close of the relevant tax year. Bui knew that, to make it appear that the participants had timely purchased their units in the tax shelters, Fisher, Sinnott and others backdated and instructed others to falsify documents, including subscription agreements, checks and other documents. And in at least one instance, Bui falsified documents himself.

Bui anticipated that the syndicated conservation easement transactions would be audited. To deceive the IRS, Bui and others took steps to make the partnerships appear as legitimate real estate development companies. They would create and disseminate lengthy documents disguising the true nature of the transaction, institute sham “votes” for what to do with the land that the partnership owned despite knowing that outcome was predetermined and falsify paperwork, such as appraisals and subscription agreements.

In one instance, when investigators conducted an undercover operation in 2018, Bui, believing that the IRS was auditing an individual’s 2014 tax return, prepared false documents that made it appear that the materials were executed before the purported donation of the conservation easement in 2014 and before the 2014 tax returns had been filed.

Bui earned substantial income for his role in the illegal scheme. He also used the fraudulent tax shelters to evade his own taxes, filing false personal tax returns from 2013 through 2018 that claimed false tax deductions from the illegal syndicated conservation easement tax shelters.

Bui is scheduled to be sentenced on Feb. 13, 2025, and faces a maximum penalty of three years in prison. Bui also faces a period of supervised release, restitution and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

To date, in addition to the convictions of Fisher and Sinnott noted above, nine additional defendants have pleaded guilty to criminal conduct related to the syndicated conservation easement tax shelter scheme, including appraiser Walter Douglas “Terry” Roberts, accountants Stein Agee; Corey Agee, CPA; Ralph Anderson, CPA; James Benkoil, CPA; Victor Smith, CPA; William Tomasello, CPA; Herbert Lewis, CPA; and Attorney Randall Lenz.

Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division, U.S. Attorney Ryan K. Buchanan for the Northern District of Georgia and Chief Guy Ficco of the IRS Criminal Investigation (IRS-CI) made the announcement. They also thanked U.S. Attorney Dena J. King for the Western District of North Carolina for her office’s assistance.

IRS-CI and the U.S. Postal Inspection Service investigated the case.

Trial Attorneys Richard M. Rolwing, Parker Tobin, Jessica Kraft and Nicholas J. Schilling Jr., of the Justice Department’s Tax Division and Assistant U.S. Attorney Christopher Huber and deputy chief of the complex frauds section for the Northern District of Georgia are prosecuting the case.

MIL Security OSI –

January 24, 2025
MIL-OSI Security: Security News: Justice Department Issues Comprehensive Proposed Rule Addressing National Security Risks Posed to U.S. Sensitive Data

Source: United States Department of Justice 2

Note: Read the Department’s fact sheet on this matter here.

The Justice Department today issued a Notice of Proposed Rulemaking (NPRM) to implement President Biden’s Executive Order 14117 (the E.O.) of Feb. 28, “Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern.” The E.O. addresses the national security threat posed by the continued effort of certain countries of concern to access and exploit certain kinds of Americans’ sensitive personal data. The President charged the Justice Department with the responsibility of establishing and implementing this new national security regulatory program to address these risks. On March 5, the Department’s Advance Notice of Proposed Rulemaking (ANPRM) was published in the Federal Register. Informed by extensive stakeholder outreach and careful consideration of comments the NPRM addresses public comments received on the ANPRM and proposes a rule to establish this new program and implement the E.O.

This comprehensive proposed rule would implement the E.O. by establishing categorical rules for certain data transactions that pose an unacceptable risk of giving countries of concern or covered persons access to government-related data or bulk U.S. sensitive personal data. Among other things, the proposed rule identifies classes of prohibited and restricted transactions, identifies countries of concern and classes of covered persons to whom the proposed rule applies, identifies classes of exempt transactions, explains the Department’s methodology for establishing bulk thresholds, provides the Department’s initial assessment of economic and other regulatory impacts, establishes processes to issue licenses authorizing certain prohibited or restricted transactions, issue advisory opinions, and designate covered persons, and addresses recordkeeping, reporting, and other due-diligence obligations for covered transactions.

The Justice Department’s National Security Division requests public comment on the proposed rule within 30 days of its publication in the Federal Register. The Department seeks comments on the proposed rule from industry, trade association groups, civil society, subject-matter experts, organizations and entities potentially affected by the proposed rule, and others with interest in the rule or expertise on data security and cybersecurity. The public may submit written comments on the NPRM at http://www.regulations.gov.

The proposed rule is tailored to address the specific national security risks stemming from access by countries of concern and covered persons to Americans’ bulk sensitive personal data and certain sensitive U.S. government-related data. These measures complement the United States’ commitment to promoting an open, global, interoperable, reliable, and secure internet; protecting human rights online and offline; supporting a vibrant, global economy by promoting cross-border data flows that are required to enable international commerce and trade; and facilitating open investment.

As previewed in the ANPRM, the proposed rule does not authorize the imposition of generalized data localization requirements to store Americans’ bulk sensitive personal data or U.S. Government-related data or to locate computing facilities used to process such data in the United States. As also previewed in the ANPRM, the proposed rule also does not broadly prohibit U.S. persons from engaging in commercial transactions, including exchanging financial and other data as part of the sale of commercial goods and services with countries of concern or covered persons, or impose measures aimed at a broader decoupling of the substantial consumer, economic, scientific, and trade relationships that the United States has with other countries. To reflect this, the NPRM proposes a new exemption for telecommunications services, provides further clarity on exemptions regarding financial services and intra-corporate-group transfers that were previewed in the ANPRM, and seeks public comment on a new proposed exemption for clinical-trial data.

The proposed rule’s prohibitions and restrictions are consistent with other access restrictions on sensitive personal data that have been imposed in other contexts, including for transactions reviewed by the Committee on Foreign Investment in the United States (CFIUS) and the Committee for the Assessment of Foreign Participation in the U.S. Telecommunications Services Sector (Team Telecom). As the ANPRM previewed, the proposed rule exempts several classes of data transactions from the scope of its prohibitions and restrictions, including certain personal communications, financial services, corporate group transactions, transactions authorized by Federal law and international agreements, investment agreements subject to a CFIUS action, telecommunication services, biological product and medical device authorizations, clinical investigations, and others.

As explained in the NPRM, countries of concern can use their access to these types of data to engage in malicious cyber-enabled activities and malign foreign influence activities, bolster their military capabilities, and track and build profiles on U.S. individuals (including members of the military and other Federal employees and contractors) for illicit purposes such as blackmail and espionage. Countries of concern can also exploit this data to collect information on activists, academics, journalists, dissidents, political opponents, or members of nongovernmental organizations or marginalized communities to intimidate them, curb political opposition, limit freedoms of expression, peaceful assembly, or association, or enable other forms of suppression of civil liberties.

The proposed rule would require vendor agreements, employment agreements, and investment agreements that qualify as restricted transactions to comply with the separately proposed security requirements that have been developed by the Department of Homeland Security’s Cybersecurity and Infrastructure Agency (CISA) in coordination with the Justice Department. These proposed security requirements require U.S. persons engaging in a restricted transaction to comply with organizational and system-level requirements, such as ensuring that basic organizational cybersecurity policies, practices, and controls are in place, and data-level requirements, such as data minimization and masking, encryption, and privacy-enhancing techniques. CISA is concurrently making these proposed security requirements available for public comment at http://www.regulations.gov.

MIL Security OSI –

January 24, 2025
MIL-OSI USA: Welch Joins Warren, Schakowsky in Pushing to Require Law-Breaking Drug Companies to Reinvest Profits in NIH & FDA for Medical Research

US Senate News:

Source: United States Senator Peter Welch (D-Vermont)
Medical Innovation Act applies to pharmaceutical companies who are found guilty or are accused of breaking the law and settle with the federal government.
WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) joined U.S. Senator Elizabeth Warren (D-Mass.) and U.S. Representative Jan Schakowsky (D-IL-09) in introducing the Medical Innovation Act of 2024, which would require large pharmaceutical companies that are accused of breaking the law and settle with the federal government to reinvest a small percentage of their profits into the National Institutes of Health (NIH) and the U.S. Food and Drug Administration (FDA).
“The Medical Innovation Act is a commonsense way to advance more medical research by holding shady pharmaceutical companies accountable when they break the law,” said Senator Welch. “I led this bill as a member of the House and am fighting today with my colleagues Senator Warren and Representative Schakowsky to maintain America’s leadership in biomedical science.”
“Big Pharma shouldn’t be able to defraud the federal government and get away with just a slap on the wrist,” said Senator Warren. “This bill will help us save lives by ensuring giant drug companies that enter into settlement agreements with the federal government chip in to fund the next generation of medical research.”
“For too long, drug companies that rely on federally-funded research to develop their blockbuster drugs have gotten away with defrauding consumers and taxpayers,” said Congresswoman Jan Schakowsky. “The Medical Innovation Act would make it more difficult for these drug companies to game the system by requiring them to provide a share of their profits to increase investments in biomedical research at the National Institutes of Health and the Food and Drug Administration. We can continue to be a leading force in medical innovation and this legislation will help ensure that we have the means to cure diseases and save lives.”
In 2023, the NIH only had funds for 23% of the applications it received, contributing to a huge medical innovation gap. At the same time, pharmaceutical companies have been accused of defrauding Medicare and Medicaid, marketing drugs for unapproved uses, illegally incentivizing doctors to prescribe drugs, lying about the safety of their drugs, and violating other criminal and civil laws. The companies have settled many of these claims with the federal government, treating the fines as a cost of doing business. Most recently, Teva Pharmaceuticals agreed to pay the Justice Department $450 million to settle a set of lawsuits alleging that the company defrauded Medicare and conspired with other drug-makers to illegally inflate the prices of two generic drugs. Between 2019 and October 2024, the Department of Justice pursued new actions against or settled cases with at least 40 pharmaceutical companies. 
The Medical Innovation Act would: 
Require pharmaceutical companies accused of breaking the law to reinvest a small percentage of their profits in NIH and FDA. These payments would increase with the severity of the settlement penalty, and would only be required of companies that rely on federally-funded research to develop billion-dollar, “blockbuster” drugs.  
Invest in life-saving medical innovation through the NIH and FDA. Payments collected through this bill would be used to develop treatments and diagnostics to address unmet medical needs; support research grants for early career scientists; research diseases that disproportionately contribute to federal health care spending; and advance basic biomedical research, among other uses.
Promote sustained investments in biomedical research. To ensure that the Act results in a net increase in funding for medical research, money from the supplemental settlement fees would only be available in years that annual appropriations for NIH and FDA are equal to or greater than appropriations for the agencies in the prior fiscal year.    
Senator Welch introduced the Medical Innovation Act as a Member of the House of Representatives in the 114th Congress alongside Senator Warren and they have pushed for the legislation since 2015. The Medical Innovation Act is cosponsored this Congress by Senators Sherrod Brown (D-Ohio), Bernie Sanders (I-Vt.), Chris Van Hollen (D-Md.), and Sheldon Whitehouse (D-R.I.).
This bill is endorsed by the National Women’s Health Network, AIDS United, University of Massachusetts Medical School, Society of Behavioral Medicine, Families USA, Public Citizen, and the Massachusetts Medical Society. 
View the bill text of the Medical Innovation Act.
Read more about the Medical Innovation Act.

MIL OSI USA News –

January 24, 2025
MIL-OSI USA: Pierce County business owner must pay $360K for scamming local gas station owners
Source: Washington State News

Kevin Wilkerson and his companies illegally charged tens of thousands of dollars for shoddy work that increased the risk of underground fuel leaks

TACOMA — On Friday, a Pierce County judge ordered a local business owner to pay more than $360,000 in penalties and restitution for unlawfully charging gas station owners for unfinished, unnecessary, or shoddy work on underground fuel storage tanks. The order is the result of a consumer protection lawsuit filed by Attorney General Bob Ferguson’s Wing Luke Civil Rights Division.

The judgment includes full restitution, plus interest, for nine gas station owners — all but one of whom identify as Korean or South Asian — who were scammed by Kevin Wilkerson and his companies, Northwest Environmental Services and Core Environmental Group. Wilkerson collected payment from the small businesses for work he did not perform or performed so poorly the businesses had to pay thousands more to other companies for the same services. In many cases, Wilkerson stopped responding to the owners of the gas stations when they attempted to contact him and refused to refund what they paid.

“My office stands up for Washington small businesses that follow the rules and contribute to our economy,” Ferguson said. “Wilkerson and his companies not only took advantage of Washingtonians trying to follow the rules, he put their livelihoods at risk. We are committed to protecting hardworking small businesses from bad actors who prey on them.”

An Olympia gas station owner, who immigrated to the U.S. 40 years ago, told the Attorney General’s Office: “(Wilkerson) took my money and then didn’t respond to me and made excuses. I trusted him. He was supposed to be an expert in the field. He was supposed to know what he’s doing. If he had said something needed to be done, I listened and asked him to do it because I relied on his word. Instead, (Wilkerson) and NES did work they were not qualified to do and cost me thousands of dollars in the process.”

Wilkerson’s unlawful conduct affected small businesses in Pierce, King, Snohomish, Thurston, Grays Harbor and Lewis counties.

Wilkerson’s unlawful conduct violated the state Consumer Protection Act. On Friday, Pierce County Superior Court Judge Clarence Henderson, Jr., found that Wilkerson violated the law and ordered Wilkerson to pay a total of $360,741, which includes $195,000 in enhanced civil penalties for harming individuals in Washington based on their national origin. Wilkerson must pay nine gas station owners a total of $165,741, amounting to full restitution plus interest.

Moreover, Wilkerson and his companies must cease all unlawful conduct or face further penalties from the court.

Wilkerson’s companies advertise maintenance services for underground storage tanks, which are used by gas stations across Washington to store fuel. There are approximately 8,700 underground storage tanks located at more than 3,400 sites statewide. Gas stations, which are primarily independently owned and operated, are responsible for periodic testing, maintenance and servicing for underground storage tanks. Service providers for this maintenance work must be certified, follow state regulations, and report the services they perform to the state Department of Ecology, which enforces regulations for underground storage tanks. Despite advertising a “skilled and certified in-house team” that “performs to the highest of standards,” Wilkerson and his companies have been taking advantage of small business owners since at least 2015, including:
- Accepting payment for services that were not completed or only partially completed;
- Completing services that violated regulations and exposed customers to liability for environmental damages;
- Misrepresenting certifications to customers;
- Persuading gas station owners to purchase and install unnecessary equipment and make unnecessary, expensive repairs; and
- Telling gas station owners they had submitted required documentation to Ecology when they had not.
In one instance, an Indian gas station owner in Toledo paid Wilkerson a $50,000 deposit to install new underground fuel storage tanks at his gas station. Six months later, the business owner learned that Wilkerson had not applied for the permits and, as a result, the work could not begin on time. The gas station owner had already purchased two new underground tanks, each capable of holding 25,000 gallons of fuel. With nowhere to install them, the owner had to pay an additional $7,000 to store them above ground behind the gas station. The gas station owner has hired a different contractor to complete the work, which will not be done until summer 2025. As a result, the business will lose a significant portion of monthly sales until then. The court ordered Wilkerson to repay the business owner $94,119 for this and other shoddy work, an amount that includes 12 percent interest.

In another instance, a Korean gas station owner in Olympia paid Wilkerson nearly $9,000 for upgrades to the gas station’s cathodic protection system, which protects underground storage tanks from corrosion to prevent underground fuel leaks. Wilkerson performed the work without proper certification and never returned to do required testing to ensure the system was working properly. When the gas station owner paid another service provider to come out to do the required testing, the system failed. The owner discovered Wilkerson had used incorrect parts and had to pay to have all the work redone. Wilkerson stopped responding to the gas station owner and never refunded the money he was paid for the shoddy work. The court ordered Wilkerson to repay the business owner $13,163, which includes 12 percent interest.

While the restitution provided by the court on Friday is limited to the nine impacted business owners who submitted declarations to the court, the Attorney General’s Office believes more businesses may have been harmed by Wilkerson’s conduct. Business owners who wish to report harm from Wilkerson or his companies should contact the Attorney General’s Office at civilrights@atg.wa.gov or toll-free by calling 1-833-660-4877 and selecting option 1.

Assistant Attorneys General Emily C. Nelson and Alyssa P. Au, Investigator Rebecca Pawul, and Paralegal Logan Young handled the case for Washington.

Ecology asks Attorney General to investigate Wilkerson’s repeat violations

The Attorney General’s Office filed the lawsuit against Wilkerson in March after the state Department of Ecology requested the office’s intervention. For years, Wilkerson repeatedly violated state regulations and disregarded penalties from Ecology.

Ecology received repeated complaints over many years from gas station owners and operators regarding Wilkerson. He faced multiple complaints for shoddy work that increased the risk of environmental damages, such as underground fuel leaks.

Despite the penalties, Wilkerson remains undeterred. Ecology continues to receive new complaints about similar conduct by Wilkerson.

To report a complaint to Ecology’s underground storage tank program, email tanks@ecy.wa.gov or call the UST Hotline at 800-826-7716.

Anyone who believes they are the victim of unfair or deceptive business practices should file a complaint with the Attorney General’s Office: https://www.atg.wa.gov/file-complaint

Read the Korean translation of this press release here.

Read the Punjabi translation of this press release here.

-30-

Washington’s Attorney General serves the people and the state of Washington. As the state’s largest law firm, the Attorney General’s Office provides legal representation to every state agency, board, and commission in Washington. Additionally, the Office serves the people directly by enforcing consumer protection, civil rights, and environmental protection laws. The Office also prosecutes elder abuse, Medicaid fraud, and handles sexually violent predator cases in 38 of Washington’s 39 counties. Visit http://www.atg.wa.gov to learn more.

Media Contact:

Brionna Aho, Communications Director, (360) 753-2727; Brionna.aho@atg.wa.gov

General contacts: Click here

MIL OSI USA News –
January 24, 2025
MIL-OSI Canada: Radium Hot Springs Aquacourt: Federal Infrastructure Investment Completion and 75th Anniversary of Kootenay National Park

Source: Government of Canada News

Federal Infrastructure Investment Completion and 75th Anniversary Kootenay National Park.

Renovations and improvements

From 2016 to early 2024, Parks Canada completed $29 million in federally funded infrastructure updates at the Radium Hot Springs Aquacourt to improve safety while modernizing and enhancing the visitor experience. Special attention was taken to hire local contractors wherever possible to ensure that the local community, for whom the hot springs are a primary economic driver, continued to benefit while construction was underway.

This work was part of a strategic effort to preserve the historical significance of the site while improving its facilities to meet contemporary standards of comfort and to improve accessibility. This included updates to the bathing pools and amenities. Upgrades to technology were also achieved.

·  Infrastructure Improvements: The Aquacourt infrastructure was upgraded to ensure safety and efficiency. This included updates to plumbing, electrical systems, mechanical systems and some structural enhancements to prolong the lifespan of the facility. These improvements also support conservation with the incorporation of green technologies.

·  Accessibility Enhancements: Efforts were made to improve accessibility for all those who visit. This involved installing and upgrading handrails and lifts and improving entry and exit to the site. The facility can now better accommodate individuals with mobility challenges.

·  Aesthetic and Comfort Upgrades: The interior and exterior of the Aquacourt underwent renovations to enhance the aesthetic appeal and comfort of the facility. This included renovating the restaurant, gift shop, and change rooms.

·  Environmental Sustainability: Measures were taken to promote environmental sustainability during the renovation process by installing energy-efficient geothermal energy systems to reduce the Aquacourt’s carbon footprint. Structural upgrades to culverts under the building have also safeguarded nearby fish habitats.

-30-

MIL OSI Canada News –

January 24, 2025
MIL-OSI Canada: Significant federal infrastructure improvements completed at Radium Hot Springs in Kootenay National Park

Source: Government of Canada News

Upgrades and repairs to beloved Aquacourt ensures the future of this heritage building.

Upgrades and repairs to beloved Aquacourt ensures the future of this heritage building.

October 21, 2024 Radium Hot Springs, British Columbia Parks Canada

The Radium Hot Springs Aquacourt, located in Kootenay National Park, hosts more than 200,000 visitors each year. The hot mineral waters that flow from the ground have drawn people to this place since time immemorial. These hot springs were known and used, both recently and historically, by the Ktunaxa and Secwépemc people for their therapeutic properties. They are sacred places of healing and rejuvenation.

Today, the Honourable Steven Guilbeault, Minister of Environment and Climate Change and Minister responsible for Parks Canada, announced the completion of a federal infrastructure project to update and renew the Radium Hot Springs Aquacourt building of approximately $29 million. Members of the community marked the completion of the renovations at an event that also recognized the 75^th anniversary of the start of construction of the Aquacourt. Building the Aquacourt was the first major construction project undertaken in the western national parks following the Second World War. The upgrades means that the Radium Hot Springs Aquacourt now offers a modern, safe, accessible and inclusive experience for visitors and community members alike.

Investments in the Radium Hot Springs Aquacourt modernized the mechanical and electrical systems, including the installation of energy-efficient technology to leverage geothermal energy from the hot springs. The building was made more resilient to climate change through upgrades to the cold pool that help protect it from flooding and improve visitor safety. The installation of culverts under the building direct water flow to protect the foundation from erosion while safeguarding nearby fish habitats. The renovated restaurant, gift shop, and change rooms will support improved visitor experiences, along with a new rooftop sundeck and upgraded accessibility features including handrails, lifts, and improvements to the site entry and exit.

Through infrastructure investments, the Government of Canada protects and conserves national treasures, while supporting local economies and contributing to growth in the tourism sector. By investing in the Radium Hot Springs Aquacourt, a Classified Federal Heritage Building, the Government of Canada is ensuring that future generations can continue to connect with nature in Kootenay National Park for years to come. These repairs and improvements ensure public safety and positive visitor experiences, support Parks Canada conservation efforts by incorporating green technologies and safeguarding natural habitats, strengthen climate resilience and protect built heritage in Canada.

-30-

Hermine Landry
Press Secretary
Office of the Minister of Environment and Climate Change
873-455-3714
hermine.landry@ec.gc.ca

Lindsay McPherson
External Relations Manager
Lake Louise, Yoho, Kootenay Field Unit
Parks Canada
867-678-5667
Lindsay.McPherson@pc.gc.ca

MIL OSI Canada News –

January 24, 2025
MIL-OSI USA: Justice Department Issues Comprehensive Proposed Rule Addressing National Security Risks Posed to U.S. Sensitive Data

Source: US State of North Dakota

Proposed Rule Would Establish New Program to Implement Executive Order to Prevent Access to Americans’ Sensitive Personal Data by Russia, Iran, China, and Other Countries of Concern

Note: Read the Department’s fact sheet on this matter here.

The Justice Department today issued a Notice of Proposed Rulemaking (NPRM) to implement President Biden’s Executive Order 14117 (the E.O.) of Feb. 28, “Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern.” The E.O. addresses the national security threat posed by the continued effort of certain countries of concern to access and exploit certain kinds of Americans’ sensitive personal data. The President charged the Justice Department with the responsibility of establishing and implementing this new national security regulatory program to address these risks. On March 5, the Department’s Advance Notice of Proposed Rulemaking (ANPRM) was published in the Federal Register. Informed by extensive stakeholder outreach and careful consideration of comments the NPRM addresses public comments received on the ANPRM and proposes a rule to establish this new program and implement the E.O.

This comprehensive proposed rule would implement the E.O. by establishing categorical rules for certain data transactions that pose an unacceptable risk of giving countries of concern or covered persons access to government-related data or bulk U.S. sensitive personal data. Among other things, the proposed rule identifies classes of prohibited and restricted transactions, identifies countries of concern and classes of covered persons to whom the proposed rule applies, identifies classes of exempt transactions, explains the Department’s methodology for establishing bulk thresholds, provides the Department’s initial assessment of economic and other regulatory impacts, establishes processes to issue licenses authorizing certain prohibited or restricted transactions, issue advisory opinions, and designate covered persons, and addresses recordkeeping, reporting, and other due-diligence obligations for covered transactions.

The Justice Department’s National Security Division requests public comment on the proposed rule within 30 days of its publication in the Federal Register. The Department seeks comments on the proposed rule from industry, trade association groups, civil society, subject-matter experts, organizations and entities potentially affected by the proposed rule, and others with interest in the rule or expertise on data security and cybersecurity. The public may submit written comments on the NPRM at http://www.regulations.gov.

The proposed rule is tailored to address the specific national security risks stemming from access by countries of concern and covered persons to Americans’ bulk sensitive personal data and certain sensitive U.S. government-related data. These measures complement the United States’ commitment to promoting an open, global, interoperable, reliable, and secure internet; protecting human rights online and offline; supporting a vibrant, global economy by promoting cross-border data flows that are required to enable international commerce and trade; and facilitating open investment.

As previewed in the ANPRM, the proposed rule does not authorize the imposition of generalized data localization requirements to store Americans’ bulk sensitive personal data or U.S. Government-related data or to locate computing facilities used to process such data in the United States. As also previewed in the ANPRM, the proposed rule also does not broadly prohibit U.S. persons from engaging in commercial transactions, including exchanging financial and other data as part of the sale of commercial goods and services with countries of concern or covered persons, or impose measures aimed at a broader decoupling of the substantial consumer, economic, scientific, and trade relationships that the United States has with other countries. To reflect this, the NPRM proposes a new exemption for telecommunications services, provides further clarity on exemptions regarding financial services and intra-corporate-group transfers that were previewed in the ANPRM, and seeks public comment on a new proposed exemption for clinical-trial data.

The proposed rule’s prohibitions and restrictions are consistent with other access restrictions on sensitive personal data that have been imposed in other contexts, including for transactions reviewed by the Committee on Foreign Investment in the United States (CFIUS) and the Committee for the Assessment of Foreign Participation in the U.S. Telecommunications Services Sector (Team Telecom). As the ANPRM previewed, the proposed rule exempts several classes of data transactions from the scope of its prohibitions and restrictions, including certain personal communications, financial services, corporate group transactions, transactions authorized by Federal law and international agreements, investment agreements subject to a CFIUS action, telecommunication services, biological product and medical device authorizations, clinical investigations, and others.

As explained in the NPRM, countries of concern can use their access to these types of data to engage in malicious cyber-enabled activities and malign foreign influence activities, bolster their military capabilities, and track and build profiles on U.S. individuals (including members of the military and other Federal employees and contractors) for illicit purposes such as blackmail and espionage. Countries of concern can also exploit this data to collect information on activists, academics, journalists, dissidents, political opponents, or members of nongovernmental organizations or marginalized communities to intimidate them, curb political opposition, limit freedoms of expression, peaceful assembly, or association, or enable other forms of suppression of civil liberties.

The proposed rule would require vendor agreements, employment agreements, and investment agreements that qualify as restricted transactions to comply with the separately proposed security requirements that have been developed by the Department of Homeland Security’s Cybersecurity and Infrastructure Agency (CISA) in coordination with the Justice Department. These proposed security requirements require U.S. persons engaging in a restricted transaction to comply with organizational and system-level requirements, such as ensuring that basic organizational cybersecurity policies, practices, and controls are in place, and data-level requirements, such as data minimization and masking, encryption, and privacy-enhancing techniques. CISA is concurrently making these proposed security requirements available for public comment at http://www.regulations.gov.

MIL OSI USA News –

January 24, 2025
MIL-OSI Banking: Galaxy Tab S10 Ultra: Faster and More Intelligent Than Ever Before

Source: Samsung

Samsung Electronics unveiled the Galaxy Tab S10 Ultra on September 26.
The Galaxy Tab S10 Ultra features a large screen equipped with Dynamic AMOLED 2X technology for an optimal AI experience. The Galaxy Tab S10 Ultra also boasts an impressive, improved chipset. Upgrades include an 18% increase in CPU, 28% increase in GPU and 14% increase in NPU performance compared to its predecessor, the Galaxy Tab S9 Ultra.
The experience is further enhanced with Dialogue Boost — an AI-powered feature that amplifies voices over unwanted noise in videos — so that users can immerse themselves in what they’re viewing with ultra-clear audio.
Samsung Newsroom explored how Dialogue Boost works and compared the benchmark test results of the Galaxy Tab S10 Ultra and the Galaxy Tab S9 Ultra in the videos below.

MIL OSI Global Banks –

January 24, 2025

Category: Business

Canadian Grain Commission

October 21, 2024

Related information

Five Facts about Liechtenstein

Liechtenstein is one of only two doubly landlocked countries worldwide, along with Uzbekistan.

Liechtenstein is a parliamentary constitutional principality with a small civil service.

Liechtenstein has the second highest per capita income in Europe, behind Monaco.

The number of persons employed in Liechtenstein exceeds its population.

Despite its small size, Liechtenstein is globally integrated.

Share this page

Updates to this page

Bill applies to pharmaceutical companies who are found guilty or are accused of breaking the law and settle with the federal government.