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  • MIL-OSI United Kingdom: Governments launch largest review of sector since privatisation

    Source: United Kingdom – Executive Government & Departments

    The UK and Welsh Governments have introduced major legislation with new powers to bring criminal charges against water executives and a ban on bonuses.

    An Independent Commission into the water sector and its regulation will be launched by the government tomorrow (Wednesday 23 October), in what is expected to form the largest review of the industry since privatisation.   

    The Commission forms the next stage in the Government’s long-term approach to ensuring we have a sufficiently robust and stable regulatory framework to attract the investment needed to clean up our waterways, speed up infrastructure delivery and restore public confidence in the sector. 

    It follows the Government’s inaugural International Investment Summit last week at which the Prime Minister spoke of the need for regulation and regulators to support growth and investment in the UK.  

    Launched by the UK and Welsh governments, the Commission will report back next year with recommendations to the Government on how to tackle inherited systemic issues in the water sector to restore our rivers, lakes and seas to good health, meet the challenges of the future and drive economic growth. 

    These recommendations will form the basis of further legislation to attract long-term investment and clean up our waters for good – injecting billions of pounds into the economy, speeding up delivery on infrastructure to support house building and addressing water scarcity, given the country needs to source an additional 5 billion litres of water a day by 2050.  

    Former Deputy Governor of the Bank of England, Jon Cunliffe, will chair the Commission. With several decades of economic and regulatory experience, his appointment demonstrates the Government’s serious ambitions.  

    The Commission will draw upon a panel of experts from across the regulatory, environment, health, engineering, customer, investor and economic sectors. It forms part of the Government’s reset of the water sector by establishing a new partnership between government, water companies, customers, investors, and all those who enjoy our waters and work to protect our environment.  

    Launching the review, Secretary of State Steve Reed said:    

    Our waterways are polluted and our water system urgently needs fixing.   

    That is why today we have launched a Water Commission to attract the investment we need to clean up our waterways and rebuild our broken water infrastructure.  

    The Commission’s findings will help shape new legislation to reform the water sector so it properly serves the interests of customers and the environment. 

    Water Commission Chair Sir Jon Cunliffe said:  

    I’m honoured to be appointed as chair of the government’s new Water Commission. It is vital we deliver a better system to attract stable investment and speed up the building of water infrastructure.

    Working over many years in the public sector, in environment, transport and the Treasury, and the Bank of England, I have seen how the regulation of private firms can be fundamental to incentivising performance and innovation, securing resilience and delivering public policy objectives.  

    I am looking forward to working with experts from across the water sector, from environment and customer groups and investors, to help deliver a water sector that works successfully for both customers, investors and our natural environment.

    Huw Irranca Davies, Wales’ Deputy First Minister with responsibility for Climate Change and Rural Affairs, added:  

    This vital review couldn’t come at a more urgent time for our water environment and water industry.      

    This shows the fresh approach of our two governments working together on an issue which affects us all as consumers, investors and as stewards of the natural world.   

    Both the Welsh and UK Governments are determined to improve water quality and the resilience of the water sector for future generations. We have clear priorities for reform and a shared sense of the work needed across both countries’ policy and regulatory regimes to make this change happen.

    A set of recommendations will be delivered to the Defra Secretary of State, and Deputy First Minister and Cabinet Secretary for Climate Change and Rural Affairs next year. The UK Government and Welsh Government will then respond with the proposals they intend to take forward.  

    The objectives of the Commission are to recommend measures to ensure the regulatory system delivers:  

    • Clear Vision: Establishing clear outcomes for the future and a long-term vision for delivering environmental, public health, customer, and economic outcomes.  

    • Strategic Planning: Adopting a collaborative, strategic, catchment approach to managing water, tackling pollution and restoring nature.  

    • Better Regulation: Rationalising and clarifying requirements for companies to secure better customer and environmental outcomes. 

    • Empowered Regulators: Ensuring regulators are effective in holding water companies accountable, for example for illegal pollution.    

    • Improved Delivery: Enhancing the sector’s ability to meet obligations, including clean rivers, lakes, and seas, while driving innovation. 

    • Stable Framework: Ensuring a regulatory environment that attracts investment and supports financial resilience for water companies.  

    • Consumer Protection: Safeguarding consumer interests and affordability through transparent and fair governance.  

    • Resilient Infrastructure: Delivering and maintaining robust infrastructure on time, anticipating future needs and climate challenges.   

    The independent commission is the third stage of the government’s water strategy. In his first week in office, the Secretary of State secured an agreement from water companies and Ofwat to ringfence money for vital infrastructure upgrades so it cannot be diverted to shareholder payouts and bonus payments.   

    In just 70 days, the Government also introduced the Water (Special Measures) Bill, which sets out tough new measures to crack down on water companies failing their customers. This includes:    

    • Bringing criminal charges against persistent lawbreakers, including imprisonment.  

    • Strengthening regulation to ensure water bosses face personal criminal liability for lawbreaking.  

    • Giving the water regulator new powers to ban the payment of bonuses if environmental standards are not met.  

    • Boost accountability for water executives through a new ‘code of conduct’ for water companies, so customers can summon board members and hold executives to account.  

    • Introduce new powers to bring automatic and severe fines.  

    • Require water companies to install real-time monitors at every sewage outlet with data independently scrutinised by the water regulators.  

    In addition, the cost recovery powers of regulators will be expanded to ensure that water companies bear the cost of enforcement action taken in response to their failings. The Environment Agency will undertake a consultation on the implementation of these new powers.

    Further quotes

    Jon Phillips, Chief Executive of the Global Infrastructure Investor Association said:

    The Secretary of State should be congratulated for acting swiftly to put in place this much needed review and reset of the water sector. No parties involved in the sector can be happy with the current arrangements, and that includes investors whose capital is vital to addressing current and future environmental challenges.

    The government has heard loud and clear that the sector needs both a long-term plan and a regulatory framework that places greater emphasis on attracting investment. We look forward to the opportunity to support the Commission’s work and hope that its findings can be put into practice at the earliest opportunity.

    Gail Davies-Walsh, CEO of Afonydd Cymru, said:

    This independent review of Welsh and English water companies is very welcome news and something that we hope will ultimately result in a much needed boost for river health.

    We would like to understand how long-term water company investment can be secured to deliver the environmental performance that we need.

    Afonydd Cymru welcome the collaboration of Welsh Government and the UK Government on this matter, particularly given the current cross-border management issues that hinder river restoration efforts.

    Richard Benwell, CEO of Wildlife and Countryside Link, said:

    The water sector is a perfect example of where stronger, better enforced regulation can drive up investment and drive down pollution.

    We welcome this significant review as the next step in Defra’s work to clean up our water environment. We’ll be looking for strong new rules that tie the industry into environmental investment and improve the way that money is spent in every river catchment to deliver quick, clean results for nature and communities.

    Jamie Cook, CEO of Angling Trust, said:

    The Angling Community has been calling for a root and branch review of Britain’s failing water sector, so we are pleased the Government has moved swiftly to set up an independent commission to deliver this.

    However, there is inevitably going to be a difficult balancing act between economic, consumer and environmental priorities that this review will need to address. We are pleased the views of water users, like the two million anglers, are going to be a key part of this review. 

    The Angling Trust is committed to working with the commission to ensure the health of our rivers, lakes and seas remains front and centre of its work.

    Mark Lloyd, CEO of Rivers Trust, said:

    35 years after water privatisation, this review is long overdue, which makes it even more welcome.  Our rivers have been flatlining for far too long, alongside the failure of our current systems to manage ageing infrastructure and population increase they face huge strategic challenges from climate change and biodiversity decline.

    Incremental policy tweaks will not fix our water system, and the review must look beyond the water industry to include land and water management in both urban and rural areas.  There needs to be much more focus on delivery of cost-effective solutions, through an integrated systems approach. 

    We will be keeping a close eye on the work of the commission to ensure it considers land use, nature, drought, flood and pollution in concert, because they are all intrinsically linked.  We look forward to working closely with Sir Jon Cunliffe and his team on a new system.

    Nicci Russell, CEO of Waterwise, said:

    We welcome this review, its wide scope and the collaborative way the government is approaching it. We agree with the government that now is the time for a reset in the water sector – nothing happens without water, so access to water needs to be at the heart of everything the government does.

    We will aim to put water efficiency at the heart of the Commission’s work, and look forward to working with Sir Jon and his team of experts to do this. The first objective in our Water Efficiency Strategy to 2030 is that governments and regulators show clear, visible leadership for water efficiency and reflect this in their policy and regulatory frameworks. 

    We are also delighted to see that Ministers are placing environmental and social outcomes as equally important to economic ones – because nothing happens without water. This is a great opportunity for the water sector to play a part in the Government’s mission of national renewal – not just in delivering a vital public service, but also in playing a proactive role to ensure a just society and a strong economy.

    Joan Edwards, Director Policy and Public Affairs at The Wildlife Trusts, said:

    This review comes not a moment too soon, given the precarious and polluted state of our waters, and the looming threat of future water shortages.

    It’s crucial that regulation drives companies to invest in the solutions that can best deliver improvements for nature at the same time as limiting bill increases.

    We look forward to supporting the Commission’s work by feeding in on the importance of a healthy environment and the changes needed to get us there.

    Updates to this page

    Published 22 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI USA: Rep. Banks Calls on Biden Admin to Stop Withholding Weapons from Israel

    Source: United States House of Representatives – Congressman Jim Banks (IN-03)

    Following the death of Hamas terrorist leader and architect of the October 7th, 2023 attack on Israel, Yahya Sinwar, Rep. Jim Banks (IN-03) sent a letter to Secretary of Defense Lloyd Austin and Secretary of State Anthony Blinken calling on the Biden administration to cease withholding the weapons that Israel needs to finish the fight against terrorists in Gaza and Lebanon. In the letter, Rep. Banks also condemns the Biden administration’s threatening Israeli officials with an arms embargo.

    Excerpt from Rep. Banks’ letter: “Your administration’s attempts to tie Israel’s hands have instead prolonged the war and only achieved record numbers of fruitless diplomatic meetings.”

    Find a copy of Rep. Banks’ letter to Secretaries Austin and Blinken here.

    The full text of the letter is below:

    Dear Secretary Blinken and Secretary Austin,

    I write to urge the Biden-Harris administration to cease withholding the weapons that Israel needs to finish the fight against terrorists in Gaza and Lebanon and for you to retract the absurd letter that you sent to Israeli officials this week threatening to impose an arms embargo.

    Now that the terror mastermind Yahya Sinwar has been killed in Rafah – a location which this administration spent months trying to prevent Israel from clearing of Hamas – it is vital that the United States provide our greatest ally in the region with what it needs to rescue the hostages and crush Hamas for good. As such, the Biden-Harris administration must immediately stop holding up arms shipments to Israel, including 2,000 lbs. bombs and other critical arms, on the false pretext that a ceasefire which leaves terrorist organizations such as Hamas intact will bring peace and return the hostages.

    Your administration’s attempts to tie Israel’s hands have instead prolonged the war and only achieved record numbers of fruitless diplomatic meetings. With the death of Sinwar, Israel has brought a hostage deal closer by killing the greatest obstacle to a hostage deal. With the death of Hamas and Hezbollah leaders like Hassan Nasrallah, Israel is forcing the conditions for a lasting peace upon the greatest obstacles to peace. Your opposition to Israel’s strategy and unjustified belief that victory was impossible has delayed this moment but not stopped it.

    The only path forward is to recognize the bankruptcy of your administration’s whole perspective on this conflict, retract your irrational letter threatening an arms embargo, and give Israel the weapons they need to end the threat of Hamas, Hezbollah, and their Iranian terrorist supporters. Despite your best efforts to the contrary, Israel is achieving peace through victory, on their terms and in America’s interests.

    Thank you for your consideration of this important matter. I look forward to your response.

    Sincerely,

    Jim Banks

    Member of Congress

    MIL OSI USA News –

  • MIL-OSI USA: AG Ferguson: Washington successfully defends ban on the sale and distribution of DIY rape kits

    Source: Washington State News

    Leda Health’s over-the-counter rape kits gather evidence that is rarely, if ever, admissible in court

    TACOMA — A federal judge upheld Washington’s ban on selling and distributing over-the-counter sexual assault kits today, dismissing a lawsuit brought by a Pennsylvania company that sells the self-administered kits for profit.

    House Bill 1564, signed into law in 2023, prohibits the sale and distribution of self-administered sexual assault kits. The Legislature found that “at-home sexual assault test kits create false expectations and harm the potential for successful investigations and prosecutions. The sale of over-the-counter sexual assault kits may prevent survivors from receiving accurate information about their options and reporting processes; from obtaining access to appropriate and timely medical treatment and follow up; and from connecting to their community and other vital resources.”

    Sexual assault kits are used as part of a forensic examination, conducted by a trained medical professional, to gather evidence from survivors of sexual assault to be used in subsequent investigations and prosecutions. Washingtonians can receive free sexual assault kits from hospitals and other medical providers. These kits are admissible in court. Individuals can search for a local medical provider that provides free sexual assault exams here: https://depts.washington.edu/uwhatc/ch/sexual-assault-medical-exams-providers.html

    Leda Health sells “early evidence kits” in other states. Leda marketed and distributed its self-collection sexual assault kits in Washington prior to a cease-and-desist letter from the Attorney General’s Office and the passage of the new law.

    Law enforcement and prosecutors rely on these professionally administered exams to protect the integrity of those investigations and prosecutions. Evidence collected using over-the-counter rape kits outside a hospital setting are rarely, if ever, admissible in court.

    Leda challenged Washington’s ban, claiming the new state law violates the First Amendment and due process. Attorney General Bob Ferguson defended the law, and yesterday, U.S. District Court Chief Judge David G. Estudillo granted Ferguson’s motion to dismiss the lawsuit and denied Leda’s motion to block the law.

    “This is a legal victory for sexual assault survivors,” Ferguson said. “By an overwhelming bipartisan vote, the Legislature adopted this state law that prevents companies from exploiting sexual assault survivors. Survivors should know that they are not alone — critical services to help them seek justice are available from trained medical professionals, at no cost.”

    Washington’s law protects victims from misleading marketing from companies like Leda, which wrongfully claim their self-administered kits are a viable alternative to the kits done in a hospital setting.

    Banning “at-home” sexual assault kits

    House Bill 1564 went into effect in July 2023, after garnering overwhelming, bipartisan support from the state Legislature. 

    The law prohibits the sale and distribution of sexual assault kits that are marketed or presented to collect “evidence” at-home or over-the-counter by anyone other than law enforcement or a health care provider.

    Self-administered kits have multiple important differences from an exam conducted by a Sexual Assault Nurse Examiner. These professionals receive specialized training including:

    • Providing comprehensive care to sexual assault survivors, including prevention treatment for STIs and follow-up care,
    • Collecting evidence in a way that avoids cross-contamination,
    • Storing evidence to avoid contamination or spoliation, and
    • Maintaining a chain of custody for the evidence.

    Consequently, evidence kits collected from these exams are accepted by the Washington State Crime Lab and routinely admitted as evidence by Washington courts.

    In contrast, self-administered kits face numerous barriers to admission as evidence, including concerns about cross-contamination, spoliation, validity, and chain of custody.

    Importantly, self-administered kits are not eligible for submission to the Crime Lab, and therefore any DNA collected would not be entered into CODIS, a national DNA profile database that national, state and local law enforcement use to identify repeat offenders, build leads, and track evidence.

    Survivors have the right to have an advocate or personal representative with them during an exam. Survivors do not have to make a decision about talking to law enforcement or reporting a crime in order to obtain a SANE exam. State law requires unreported sexual assault kits be transported to local law enforcement and stored for 20 years from the date of collection. Timely forensic examinations by a trained provider represent the best chance to preserve evidence if a survivor chooses to move forward with reporting the assault and criminal investigation.

    Ferguson’s Survivor Justice Unit

    Ferguson’s Survivor Justice Unit, formerly the Sexual Assault Kit Initiative, is part of a coordinated, statewide effort to test every single backlogged sexual assault kit in the state.

    In October 2023, Ferguson announced the state had effectively cleared Washington’s backlog of sexual assault kits.

    In addition to this project, the unit:

    • Assists local law enforcement to investigate sexually motivated homicides. The SJU is currently assisting with two cold sexually motivated homicides: one in King County and one in Port Orchard.
    • Helps solve cold cases by assisting with genetic forensic genealogy and other advanced DNA testing. A response that is commonly received from such agencies is that they do not have the resources and or personnel available to delve into cold cases to determine whether such testing would be appropriate. For example, in August, AGO-funded forensic genetic genealogy testing helped Kent police narrow the list of suspects and make an arrest in the 44-year-old murder of Dorothy “Dottie” Silzel. Kenneth Duane Kundert, 65, was arrested in Arkansas on Aug. 20 after DNA on a cigarette butt Kundert discarded matched the profile of the suspect in the crime.
    • Stands up for survivors by following up on cold cases from backlogged sexual assault kits. The SJU uses available data to track sexual assault cases and identify serial sex offenders.

    The SJU has helped solve dozens of cold case sexual assaults and homicides.

    Ferguson requests $534,000 for the upcoming biennium to support the ongoing work of this new unit.

    -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 –

  • MIL-OSI United Nations: Note to Correspondents: Joint communiqué of the 8th AU-UN Annual Conference

    Source: United Nations secretary general

    1. On 21 October 2024, the African Union Commission Chairperson, Moussa Faki Mahamat and the United Nations Secretary-General António Guterres convened the Eighth African Union-United Nations Annual Conference in Addis Ababa, Ethiopia. They noted with deep concern the current state of peace and security globally, including armed conflicts and humanitarian crises, and in some cases profound disregard for international law and the shared principles of the two organizations.

    2. The Chairperson and the Secretary-General reviewed progress in the implementation of the “Joint UN-AU Framework for Enhanced Partnership in Peace and Security,” the “AU-UN Framework for the Implementation of Agenda 2063 and the 2030 Agenda for Sustainable Development,” and the “AU-UN Joint Framework on Human Rights.” They welcomed the progress made in the implementation of the three joint frameworks.

    3. The Chairperson and the Secretary-General welcomed the convening of the HighLevel Strategic Dialogue on Sustainable Development co-chaired by the Deputy Secretary-General of the United Nations and the Deputy Chairperson of the African Union Commission, which seeks to advance strategic coordination and alignment within the context of the African Union-United Nations Framework for the Implementation of Agenda 2063 and the 2030 Agenda for Sustainable Development. They reiterated their commitment to deliver socio-economic development and prosperity in line with the AU Agenda 2063 and UN 2030 Agenda. They welcomed the formulation of the Second Ten-Year Implementation Plan of Agenda 2063 and emphasized the need for the timely and effective implementation of the Plan, as well as a stronger working relationship between the AU and the UN at the continental, regional and national level in its realization towards Africa’s accelerated socio-economic transformation and development. In this regard, they saluted the decision of the AU-UN High-level Strategic Dialogue to engage the African Women Leaders Network to support the mainstreaming of gender throughout the AU-UN strategic coordination process. The Chairperson and the Secretary-General welcomed the progress made, and called for the full operationalization of mechanisms of the five thematic ‘college–to–college’ formations.

    4. The Chairperson and the Secretary-General noted their concern that the absence of fiscal space in African countries to invest in sustainable development continues to undermine progress in the implementation of Agenda 2063 and the 2030 Agenda and called on Member States to approach the 4th International Conference on Financing for Development with the level of ambition needed to achieve transformative results. They reaffirmed the commitment of the African Union and the United Nations to jointly advocate for urgent measures to generate fiscal space, such as the SDG Stimulus and the reform of the international financial architecture. They reaffirmed the readiness of the two organizations to jointly support African Member States in strengthening their domestic resource mobilization systems to ensure the long-term sustainability of financing for development, including the Global Africa Business Initiative (GABI) convened by the UN Global Compact in collaboration with UN partner agencies.

    5. The Annual Conference welcomed the African Union’s membership of the G20 and the commitment of the United Nations to work with and support the African Union in ensuring that Africa’s needs, interests and priorities are well articulated and take the center-stage in the processes, agenda, deliberations and outcomes of the G20 meetings.

    6. The Chairperson and the Secretary-General welcomed the adoption by the United Nations General Assembly of the Pact for the Future, the Global Digital Compact and the Declaration on Future Generations on 22 September, noting that they open pathways to new possibilities and opportunities towards a more effective, inclusive, networked multilateral system that is better equipped to effectively respond to today’s and tomorrow’s political, economic, environmental and technological challenges. They called for urgent and concerted action to implement all agreed commitments.

    7. The Annual Conference underscored the primacy of political solutions and the need to strengthen the capacities of both organizations in preventive diplomacy and mediation. The Annual Conference emphasized the imperative to prioritize good offices missions, and further strengthen collaboration between Africa Union and United Nations Special Representatives and Envoys deployed in various parts of the continent.

    8. The Annual Conference welcomed the ongoing initiatives in promoting the Women Peace and Security and the Youth Peace and Security agendas, as well as protection of children in conflict situations. They reiterated the importance of consolidating and building on the gains made in promoting inclusive political processes through effective engagement and participation of women and the youth in peace processes at the technical, operational, decision-making and policymaking levels.

    9. The Chairperson and the Secretary-General welcomed the ongoing elaboration of the Common African Position on Climate, Peace and Security, which would represent not only a global precedent, but also an important step for mitigation and adaptation strategies on the continent. They underscored the importance of the Common African Position both as a means of underscoring the effects of climate change on Africa’s peace, security, and development efforts, and as a means to strengthen Africa’s calls for support in its sustainable development and for equity in the name of climate justice. In particular, the Annual Conference highlighted the risks posed by the aggravating water crisis across the continent, and called for greater collaboration between the AU and the UN to overcome the crisis. The Annual Conference also looked forward to the outcome of the Ninth Session of the Africa Regional Platform and the High-Level Meeting on Disaster Risk Reduction, scheduled for the 21-24 October in Namibia, and in this context called for the accelerated development of early warning systems, to attain the goal of universal coverage by 2027.

    10.The Chairperson and the Secretary-General welcomed the adoption of United Nations Security Council resolution 2719 (2023) which represents a significant milestone toward ensuring adequate, predictable and sustainable funding for African Union-led peace support operations. They further recognized that the resolution provides opportunities to strengthen the partnership between the two organizations in peace and security under Chapter VIII of the Charter of the United Nations, whilst ensuring that peace operations in general adapt to present day realities. The Annual Conference endorsed the joint AU-UN roadmap on the operationalization of resolution 2719 (2023). The Annual Conference reaffirmed the preservation of the comparative advantages and complementarity of the African Union and the United Nations, based on their respective mandates, principles and shared objectives. It underscored the importance of the implementation of the resolution, whilst maintaining an integrated approach in addressing conflict situations comprehensively, by ensuring that capacities, systems, procedures and processes, as well as joint accountability and institutional readiness continue to be strengthened for the delivery and sustainment of African Union-led peace support operations deployed under resolution 2719 (2023).

    11.The Annual Conference expressed grave concern about the stalled political transition processes in Burkina Faso, Gabon, Guinea, Mali, Niger and Sudan, and called for the timely and peaceful return to constitutional order in these countries. The Annual Conference also noted with concern the heightened instability and insecurity, as well as the shrinking civic space in the affected States. The Annual Conference recognized the importance of dialogue and collaboration between affected States and sub-regional, continental, and global organizations in addressing the political, peace, security, development and human rights challenges.

    12.The Chairperson and the Secretary-General considered the final report of the High-Level Independent Panel on Security and Development in the Sahel presented by the Chair of the Panel, former President of the Republic of Niger Mahamadou Issoufou, and agreed to jointly take forward key recommendations through their respective organs and institutional mechanisms. The Annual Conference reaffirmed the commitment of the African Union and the United Nations to enhance their support in advancing democratic transitions in West Africa and the Sahel, working closely with the Economic Community of West African States (ECOWAS).

    13.On Libya, the Annual Conference welcomed efforts by the United Nations to foster inclusive political dialogue, including recent progress on the governance of the Central Bank. It took note of the persistent political stalemate and entrenched divisions in Libya, which continue to pose challenges for efforts to reunite the country and organize credible presidential and parliamentary elections to put in place unified, representative and legitimate Libyan institutions. The Annual Conference stressed that Libya’s sustainable peace and stability will only be realized through inclusive processes that will bring about legitimate governance and institutions; and in that regard, collective efforts, including of neighbors and international partners, must focus on supporting and encouraging the main Libyan leaders to take ownership of the political process, set aside personal interests and strive to reach political consensus in support for national reconciliation and the conduct of elections without further delays. The Conference expresses full support for the continued engagement of the African Union to promote national reconciliation through the adoption of the Charter on National Reconciliation.

    14.The Annual Conference observed that geopolitical dynamics in the Horn of Africa are becoming increasingly fragile and therefore noted the need for ever more coordinated preventive action and messaging by both organizations and partners on de-escalation and constructive engagement. On Somalia, the Annual Conference reiterated their close collaboration, including on the implementation of Security Council resolution 2748 (2024) to finalize the mission implementation plan for the PSC endorsed African Union Stabilization and Support Mission in Somalia. It also reaffirmed the importance of sustained and full implementation of the Cessation of Hostilities Agreement in Tigray, Ethiopia. On South Sudan, the Annual Conference agreed to enhance coordination of regional and international support for the process led by the Intergovernmental Authority on Development and called on the Transitional Government to sustain momentum in discussions on an agreed updated roadmap and timeline and advance the implementation of the Revitalized Agreement. On Sudan, the Annual Conference expressed grave concerned about the further escalation of fighting between the Sudanese Armed Forces and the Rapid Support Forces. They urged the parties to immediately engage in genuine dialogue to reach a permanent ceasefire, while stressing that the protection of civilians should be guaranteed at all times and unhindered and sustained humanitarian access should be ensured. The African Union and the United Nations strongly condemned external interference in Sudan and urged these actors to stop the flow of arms in Sudan, which continues to fuel the conflict. They welcomed the efforts spearheaded by the African Union and the Intergovernmental Authority on Development to support the transition to a fully democratic government that fulfils the aspirations of the Sudanese people. The Annual Conference also encouraged the good offices of the Personal Envoy of the Secretary-General on Sudan and AU High-Level Panel on Sudan and called for strengthened diplomatic push underpinned by the coordination and complementarity of initiatives. They welcomed the establishment of the PSC Presidential Ad Hoc Committee on Sudan, and reaffirmed their commitment to support the Committee in executing its mandate.

    15.On the Great Lakes region, the Annual Conference welcomed the 4 August ceasefire between the Democratic Republic of the Congo (DRC) and Rwanda, which has contributed to a reduction in hostilities in the North Kivu province of the DRC, while expressing concern about the humanitarian situation in North Kivu and Ituri, where armed groups activities continue to affect civilians and impede activities of humanitarian workers. The Annual Conference commended African Union mediator President João Lourenço of Angola for his steadfast efforts through the Luanda process, and the efforts deployed under the auspices of the East African Community (EAC) and the Southern African Development Community (SADC), including the deployment of the SADC Mission in the Democratic Republic of the Congo (SAMIDRC), aimed at restoring peace and security in the eastern Democratic Republic of the Congo. The Annual Conference stressed that attaining sustainable peace calls for addressing the root causes, including through full implementation of the Peace, Security and Cooperation Framework for the Democratic Republic of the Congo and the region, and in that regard, called for enhanced coordination of regional peace initiatives, including through the Quadripartite Process facilitated by the African Union.

    16.The Annual Conference took note of the expiry of the terms of office of the African Union Commission Chairperson, Deputy Chairperson and Commissioners in early 2025. The Secretary-General took the opportunity to commend the African Union Commission leadership for the commitment and support to the partnership during their terms of office. He paid special tribute to Chairperson Moussa Faki Mahamat for his leadership of the African Union Commission over the last eight years.

    17.The Chairperson and Secretary-General agreed to convene the Ninth African Union – United Nations Annual Conference in 2025 in New York at a mutually convenient date.

    MIL OSI United Nations News –

  • MIL-OSI USA: Workshop to Offer Guidance on How to Open Business Claims for the Hermit’s Peak/Calf Canyon Fire

    Source: US Federal Emergency Management Agency

    Headline: Workshop to Offer Guidance on How to Open Business Claims for the Hermit’s Peak/Calf Canyon Fire

    Workshop to Offer Guidance on How to Open Business Claims for the Hermit’s Peak/Calf Canyon Fire

    SANTA FE, NM – Business owners impacted by the Hermit’s Peak/Calf Canyon Fire and subsequent flooding can receive tips at an Oct. 23 workshop on how to open a claim, learn more about what qualifies for compensation and begin the claims process on the spot. The Advocate team at the Hermit’s Peak/Calf Canyon Claims Office is partnering with the Las Vegas Chamber of Commerce and the U.S. Small Business Administration to offer guidance to affected businesses on the best way to start a claim before the Dec. 20, 2024, deadline. The workshop will be 2 p.m. – 7 p.m., Oct. 23 at Highlands University’s Student Union Building, third floor, in Las Vegas, N.M. There will be information booths and presentations on what’s required for businesses to receive compensation and what resources are available to impacted businesses. To-date the Claims Office has paid more than $214 million to business owners and is bringing the Claims Office’s business team to the community to continue to share vital information to owners as they navigate the claims process. Claims Office business team members will be onsite to assist those who want to file a Notice of Loss (NOL), which is the first step in starting a claim.“Businesses are the backbone of communities and provide jobs and essential services, which is why the Advocate Team is committed to helping eligible businesses start their claims before the deadline,” said Paula Gutierrez, the Claims Office Advocate Branch Chief. “This workshop is one way to maximize the resources that are available to business owners to address their needs, as they navigate the claims process before the Dec. 20, 2024, deadline.”Business owners who aim to submit an NOL at the workshop should bring the following:  Tax returns and profit/loss statements for 2021 and 2022Articles of incorporation or organizationCompleted W-9Copy of the IRS letter with your name and Employer Identification NumberInventory and equipment list before and after the fire and flooding. Photos of damaged propertyA document showing estimated cost of damage or losses; that could be an invoice, receipt or purchase order of repairs and costs to replace equipment and inventory.  The workshop will offer instruction on business impacts that qualify for compensation, such as increased costs, temporary interruption or closure, loss of natural resources, canceled contracts and staff who were paid after operations shut down. Representatives from the Small Business Administration New Mexico District Office, the New Mexico Minority Business Development Agency, New Mexico Small Business Assistance Program (Los Alamos National Laboratory), New Mexico Occupational Health & Safety Bureau and the City of Las Vegas Community Development Department will be onsite to share resources and answer questions.The Claims Office is committed to meeting the needs of people impacted by the fire and subsequent flooding by providing full compensation available under the law as expeditiously as possible. So far, it has paid more than $1.4 billion to claimants. As we continue to approach the Dec. 20, 2024, deadline, we continue to observe an increase in claim submissions, that may result in temporary longer wait times that often prevent same-day issuance of Letters of Determination for claims. We are actively working to reduce wait times and shorten processing times of claims. Claims Office compensation is not taxable. Receiving payment from the Claims Office will not affect eligibility for government assistance programs. Contact a tax professional for specific tax-related questions. Questions and concerns can also be addressed by calling your claim navigator or the Helpline at 505-995-7133.For information and updates regarding the Claims Office, please visit the Hermit’s Peak/Calf Canyon Claims Office website at fema.gov/hermits-peak. For information in Spanish, visit fema.gov/es/hermits-peak. You can also follow our Facebook page and turn notifications on to stay up to date about the claims process, upcoming deadlines and other program announcements at facebook.com/HermitsPeakCalfCanyonClaimsOffice. 
    erika.suzuki
    Tue, 10/22/2024 – 20:37

    MIL OSI USA News –

  • MIL-OSI Security: Former Montgomery County Restaurant Owner Sentenced to 21 Months’ Imprisonment for PPP and RRF Loan Fraud

    Source: Office of United States Attorneys

    PHILADELPHIA – United States Attorney Jacqueline C. Romero announced that Giuseppina “Josephine” Leone, 62, of North Wales, Pennsylvania, was sentenced today by United States District Court Judge Gerald A. McHugh to 21 months in prison, one year of supervised release, a $50,000 fine and $300 special assessment for pandemic program fraud. The Court denied the defendant’s request for a non-custodial sentence. The defendant has also paid full restitution in the amount of $972,861.75.

    Leone was charged by indictment on May 16, 2024, with three counts of wire fraud for making false representations in documents relating to the Paycheck Protection Program (“PPP”) and Restaurant Revitalization Fund (“RRF”) program, which provided emergency financial assistance to business owners suffering the economic effects of the COVID-19 pandemic. She pleaded guilty to those charges on May 23.

    Leone and her husband were owners of Ristorante San Marco (“RSM”), an Italian restaurant located in Ambler, Pa. Leone and her husband executed an Agreement for Sale of Real Property dated October 20, 2019, listing themselves as the “Sellers” of the RSM property and a third party as the “Buyer” for a purchase price of $1,575,000. Subsequently, on or about March 18, 2020, Leone posted on the restaurant’s Facebook page informing the public that RSM would be temporarily closed due to the COVID-19 pandemic. RSM remained closed and never reopened.

    Despite the restaurant not being in operation in April 2020, Leone submitted a fraudulent application for a PPP loan in the amount of $138,000. This application misrepresented that RSM, which had been closed for approximately a month, had 17 employees, and would use the loan for payroll and other operating expenses. The fraudulent application was approved, and the loan funds were deposited into RSM’s bank account later that month. The loan was subsequently forgiven based on further misrepresentations by Leone.

    In January 2021, while the restaurant was still not in operation, Leone submitted another fraudulent application for a PPP loan, this time seeking $120,000. The application made similar misrepresentations and was approved, resulting in the requested funds being deposited into RSM’s bank account in February 2021. Again, the PPP loan was forgiven due to misrepresentations by Leone.

    Finally, Leone defrauded another COVID-19 relief program. While RSM was still not in operation in May 2021, Leone submitted a fraudulent application for a grant under the RRF program, requesting $699,196 for restaurant operations. This RRF application mispresented that RSM, which had not been operating since March 2020, was in operation and that the money would be used to pay employee wages. As a result of this deception, the request was approved, and the funds were deposited into RSM’s bank account later in May 2021. One month later, in June 2021, Leone closed on the sale of RSM. Nonetheless, over a year later, Leone misrepresented to the federal government that the RRF funds had been used for eligible purposes, even though RSM was never reopened by Leone.

    “PPP and the other covid relief programs were meant to provide emergency aid to businesses and employees financially flattened by the pandemic,” said U.S. Attorney Romero. “My office and our partners won’t stand for opportunists like Mrs. Leone thinking they can defraud the federal government, pocket taxpayers’ money, and get away with it. We’ll continue to aggressively pursue and prosecute anyone foolish enough to do so.”

    The case was investigated by the Small Business Administration Office of Inspector General, the FBI, and Homeland Security Investigations, and is being prosecuted by Assistant United States Attorney Angella Middleton.

    MIL Security OSI –

  • MIL-OSI: Transocean Ltd. Announces Third Quarter 2024 Earnings Release Date

    Source: GlobeNewswire (MIL-OSI)

    STEINHAUSEN, Switzerland, Oct. 22, 2024 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the third quarter 2024 on Wednesday, October 30, 2024.

    The company will conduct a teleconference to discuss the results starting at 9 a.m. EDT, 2 p.m. CET, on Thursday, October 31, 2024. Individuals who wish to participate should dial +1 785-424-1226 approximately 15 minutes prior to the scheduled start time and refer to conference code 827284.

    The teleconference will be simulcast in a listen-only mode at: http://www.deepwater.com, by selecting Investors, News, and Webcasts. A replay of the conference call will be available after 12 p.m. EDT, 5 p.m. CET, on October 31, 2024. The replay, which will be archived for approximately 30 days, can be accessed at +1 402-220-9184, passcode 827284. The replay also will be available on the company’s website.

    About Transocean

    Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

    Transocean owns or has partial ownership interests in and operates a fleet of 34 mobile offshore drilling units, consisting of 26 ultra-deepwater floaters and eight harsh environment floaters.

    For more information about Transocean, please visit: http://www.deepwater.com.

    Analyst Contact:
    Alison Johnson
    +1 713-232-7214

    Media Contact:
    Pam Easton
    +1 713-232-7647

    The MIL Network –

  • MIL-OSI Global: Is conservatism really on the rise in Canada? Blaine Higgs’ big loss in New Brunswick suggests not

    Source: The Conversation – Canada – By Noah Fry, PhD Candidate, Political Science, McMaster University

    Make no mistake, New Brunswick Premier Blaine Higgs lost big on Monday night. The province’s voters delivered a forceful rebuke of Higgs’ Progressive Conservatives similar to the 1995 election, when the party won only six seats against Frank McKenna’s Liberals.

    This time, the PCs were reduced to 16 seats while the Liberals won 31. The Greens dropped to two seats.

    This seat count downplays the Liberals’ 13-point popular vote lead in a tough political environment.

    Historically, the Liberals have had inefficient support that’s been concentrated in safe francophone ridings. This time, they made inroads with anglophones beyond Moncton.

    Higgs, among Canada’s most socially conservative premiers, lost his own safe seat of Quispamsis, which was among the province’s most Conservative ridings in the 2020 election.

    The result was a referendum on Higgs’ brand of conservatism. Along with the failure of the resurgent Conservatives in British Columbia to win a clear victory on Oct. 19, Higgs’ loss challenges the narrative that conservatism is on the rise across Canada.



    Read more:
    Move over, Danielle Smith: What Canadians should know about New Brunswick’s Blaine Higgs

    Governing to the (far) right

    Since gaining power in 2018, Higgs embraced a neoconservative social agenda.

    Most notably, he triggered a national conversation on trans children’s recognition in schools. Using the language of “parental rights,” Higgs introduced parent consent restrictions for name and pronoun changes for children under 16.



    Read more:
    New Brunswick’s LGBTQ+ safe schools debate makes false opponents of parents and teachers

    Research shows trans children have high rates of suicidal ideation, especially when they’re not supported in how they identify.

    Over time, Higgs supported anti-trans and anti-sex education protesters, even as many advocates, parents and educators raised concerns about the safety and mental well-being of LGBTQ+ youth. He also refused to deny what’s known as the so-called kitty litter myth that falsely alleges students are allowed to identify as animals and use litter boxes.

    When confronted by parents about a safe-sex presentation slide for a high-school audience, Higgs banned the group that conducted the presentation.

    It didn’t end there. Higgs erroneously suggested an Indigenous nation sought to claim most of the province from property owners. In 2021, his government discouraged land acknowledgements by provincial employees. Higgs also argued that Indigenous people had already ceded their land.

    Taking aim at francophones, social issues

    Higgs’ relationship with francophones was just as bad. He refused to learn French in Canada’s only bilingual province after promising he would. He alleged he was unfairly targeted as an anglophone.

    When coming to power in 2018 with a minority government, Higgs weakened bilingual requirements for paramedic positions. Later, he controversially proposed ending French immersion programs, arguing it was unfair to “English Prime” students in the province.

    When he won a majority in 2020, Higgs lowered taxes on the highest income earners while constraining increases to health care and education.

    Higgs was successful in uniting the right. As a former leadership contender of the linguistic segregationist Confederation of Regions party, Higgs welcomed far-right People’s Alliance representatives to his party.

    But his tenure faced internal opposition. Atlantic conservatism tends to be closer to the political centre. Higgs’ Maritime counterparts, Premiers Dennis King of Prince Edward Island and Tim Houston of Nova Scotia, have largely avoided social issues.

    On the province’s Policy 713, also called the Sexual Orientation and Gender Identity policy, six PCs voted with an opposition motion against the proposed changes. Four were cabinet ministers.

    Several ministers resigned from cabinet with letters blasting Higgs’ leadership.

    Almost half of PC riding associations sought a leadership review. They fell just short of the minimum needed to trigger a review.

    Most leaders recognize when their time was up. Not Higgs.

    An embattled campaign

    The PCs’ tumultuous time in government made for an uninspired campaign. Twelve of the 26 winning PC representatives from 2020 did not run again. In their place came more social conservatives who would not oppose Higgs.

    The PCs received bad news early. They were projected to fall short of their 2024-25 balanced budget aims.

    Still, Higgs campaigned on his fiscal management. He offered a two per cent HST cut as a reward. For some, this proposal rang as vote-buying from a government that could have pursued a sales tax cut at any point in its six-year tenure.

    The PCs campaigned on few other commitments. Their two-page platform made generic promises like “respect parents.” They also sought to “compel individuals into drug treatment” and “axe the carbon tax.”

    Meanwhile, the Liberals hammered the PCs on housing, health care and education. All three areas had been stressed by population growth and tight funding. Housing policy was a particular weakness given the PCs’ long-term resistance to rent caps and its record as a housing-starts laggard.

    Higgs’ confidence in his record was misplaced. While his social conservativism has an audience in New Brunswick, few saw it as a priority relative to the cost of living.

    His other campaign efforts made little difference. Higgs sought to make his opponent Prime Minister Justin Trudeau. He also stirred anti-immigration sentiment over federal asylum-seeker plans. Both efforts seemed desperate.

    Rejection of grievance politics?

    The Liberals’ return to power could be attributed to a referendum on Higgs. There is no doubt Higgs had personal defects that cost him his own riding.

    But his loss is more than a personal rejection. It also seems a rejection of a grievance politics that favours anger over substance.

    After repeatedly focusing on social issues over matters like housing, the grievances lost their allure. Even for the most steadfast Conservative voters, Higgs’ targeting of minorities came across as bullying.

    While Higgs may be the worst offender, he is not the only practitioner of grievance conservatism. Federal Conservative Leader Pierre Poilievre and Alberta Premier Danielle Smith play the same tune. Will their political fates be any different?

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

    – ref. Is conservatism really on the rise in Canada? Blaine Higgs’ big loss in New Brunswick suggests not – https://theconversation.com/is-conservatism-really-on-the-rise-in-canada-blaine-higgs-big-loss-in-new-brunswick-suggests-not-241971

    MIL OSI – Global Reports –

  • MIL-OSI USA: Senator Wicker Statement on Gulf Coast Passenger Service Grant Approval

    US Senate News:

    Source: United States Senator for Mississippi Roger Wicker

    WASHINGTON – Today, an agreement was reached among stakeholders on the Consolidated Rail Infrastructure and Safety Improvements (CRISI) Grant which will provide crucial funding to restore passenger rail service along the Mississippi Gulf Coast. The $178,435,333 grant was previously awarded by the Federal Railroad Administration.

    U.S. Senator Roger Wicker, R-Miss., has used his position as Chairman and Ranking Member of the U.S. Senate Commerce Committee to restore the return of passenger rail to the Gulf Coast for the first time since Hurricane Katrina. While serving as chairman, he helped negotiate the infrastructure bill which is the origin of the CRISI Grant.

    Senator Wicker released the following statement:

    “I appreciate the partnership shared by local and state government officials and the freight rail companies, CSX, and Norfolk Southern. This service will provide economic opportunities to the Gulf Coast Region and provide an alternative way to move people safely. Years of hard work and cooperation have brought us to this important moment,” Senator Wicker said.

    Scheduled to resume in 2025, the services are expected to provide economic growth opportunities, boost tourism, and reduce traffic on our roadways. Two trains will run roundtrip from New Orleans to Mobile with stops in Bay St. Louis, Gulfport, Biloxi, and Pascagoula.

    A groundbreaking ceremony was held today in Mobile for the layover track, where a train is stored when not in use. That piece of the project had been one of the remaining hurdles to restoring the route.

    MIL OSI USA News –

  • MIL-OSI USA: Brown, UAW Workers, Cleveland-Cliffs, and Zanesville Mayor Don Mason Tout Successful Fight to Save Local Jobs by Fixing Misguided Biden Administration Rule

    US Senate News:

    Source: United States Senator for Ohio Sherrod Brown

    ZANESVILLE, OH – Today, U.S. Senator Sherrod Brown (D-OH) joined Zanesville Mayor Don Mason and UAW workers to highlight his successful fight pushing the Biden Administration to fix a flawed electrical distribution transformer regulation that would have cost Ohioans’ jobs and devastated U.S. electrical steel manufacturers—including Ohio-based Cleveland-Cliffs. Cleveland-Cliffs makes grain-oriented electrical steel used to form the cores of electric distribution and power transformers and non-grained-oriented steel used in other end uses at its Zanesville plant.

    The Administration’s rule would have required all new transformers to be produced with a different kind of steel metal that’s almost entirely manufactured overseas – rather than what’s known as grain-oriented electric steel, which Cleveland-Cliffs produces in Ohio, at its Zanesville plant, and in Pennsylvania.

    “This was a bipartisan effort with the mayor, UAW, Cleveland-Cliffs, and other Ohioans,” said Brown. “Together we got the Biden Administration to back down, saving union jobs in Zanesville. I will always go to bat for Ohio workers and Ohio businesses, and stand up to anyone who threatens our jobs.”

    “Senator Brown understands that the United States cannot become reliant on countries like Japan, China and Mexico for our energy security. That’s why he fought back against the Department of Energy’s flawed transformer rule and helped achieved changes to the regulation that will preserve utilization of GOES in transformers.  Because of Senator Brown’s successful advocacy, Cleveland-Cliffs is now making investments in the production of electrical steel and preserving good-paying, UAW jobs at Zanesville Works,” said Lourenco Goncalves, Chairman, President & CEO, Cleveland-Cliffs Inc. 

    “The hard-working people of the Zanesville community appreciate the efforts and support of Senator Sherrod Brown and other federal legislators. Those successful efforts persuaded the Department of Energy to back off their proposal and will keep well-paying American  jobs in Zanesville,” said Zanesville Mayor Don Mason. “Without those efforts, materials and supplies for the transmission grid and industry would have shifted from reliable domestic sources to unreliable offshore sources. Those efforts also support reliability in the delivery of electricity to businesses and homes at a time when reliability is most needed. Furthermore, those successful efforts support the continued investment by American companies in American cities and American workers.”

    “I would like to thank Cleveland-Cliffs, our UAW leaders, and our elected officials, especially Senator Sherrod Brown, and Mayor Don Mason, who represent us and have fought against regulations that would have closed our plant, by forcing transformers manufacturers away from the Grain Oriented Electrical steel that we finish here at Zanesville,” said Eric Spiker, President, UAW Local 4104. “We are not the only ones that benefit from the work that the Senator has done. The communities that surround us, the State, and the country as well benefit.”

    Brown joined Ohio manufacturers, Ohio workers, and rural electric co-ops to fight the regulation. His push—which included proposing the bipartisan Distribution Transformer Efficiency & Supply Chain Reliability Act of 2024 with U.S. Senator Ted Cruz (R-TX)—led the Biden administration to correct major deficiencies in the proposed rule. This bill was built upon another bipartisan Senate effort from last June when Brown, Cruz, and Senator Bill Hagerty (R-TN) sent a bipartisan letter to Department of Energy Secretary Jennifer Granholm, signed by an additional 13 Democrats and 32 Republicans, calling on the Department to fix the proposed regulations.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Government to overhaul anti-money laundering regime

    Source: New Zealand Government

    The Government will introduce a single supervisor and a new funding model in a major overhaul of New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) system, Associate Justice Minister Nicole McKee says.

    “Cabinet has approved an AML/CFT reform work programme which will change the supervisor structure that monitors AML/CFT compliance and introduce a new funding model for the system. These reforms will allow the system to be more responsive to industry and community needs, more agile, and more focused on the real risks posed by anti-money laundering to New Zealand businesses.

    “The changes will deliver a critical Government priority to reform key sectors where the cost of regulation is overly burdensome for businesses and improve the efficiency and effectiveness of the AML/CFT system to meet international standards.”

    The Government is introducing the changes following a Financial Action Task Force evaluation of New Zealand’s regulatory regime and a subsequent review of the Anti-Money Laundering and Counter Financing of Terrorism Act 2009.

    A single-supervisor model will replace the current three-supervisor model and will establish the Department of Internal Affairs as the sole supervisor of the AML/CFT system.  Currently, supervision of different parts of the AML/CFT system are overseen by the Reserve Bank, Financial Markets Authority, and Internal Affairs.

    “The Government is very aware of the risks money-laundering and financing of terrorism poses to New Zealand businesses and moving to a single supervisor will improve the efficiency of the system, establish a more risk-based approach, and enable more timely provision of guidance and support. I have heard from businesses that this will provide substantive regulatory relief,” Mrs McKee says. 

    “In considering how to improve the supervisory model, I will be focusing on how the positive effects can be felt as soon as possible, such as ensuring work on industry guidance and codes of practice starts promptly.”

    “The Government will also introduce a new sustainable funding model for the AML/CFT system as part of the reforms. The funding model will establish an industry-levy to support a flexible and coordinated system that will deliver sector benefits. The levy will be designed to ensure that costs are equitable and reasonable for the sector and will not place undue burden on small businesses.” 

    An AML/CFT National Strategy and work programme will be introduced as part of the funding model. Legislation will require any amendments to the levy to be informed by the National Strategy and work programme. 

    “This work programme will be developed in partnership with industry and agreed by Cabinet to ensure that the AML/CFT system is focussed on industry priorities. The new funding model will mean better and more efficient regulation, supervision, and support for industry.

    “The changes will ensure New Zealand maintains its international reputation and will align our AML/CFT system with the financial sectors of our key trading partners to support trade, investment and economic growth.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Resetting the Emissions Trading Scheme annual charge for post-1989 forestry participants

    Source: Ministry for Primary Industries

    Your views sought

    We want your feedback on 2 proposals relating to cost recovery settings for forestry Emissions Trading Scheme (ETS) participants. We anticipate that changes would be made by early 2025.

    • Proposal 1: A reduced annual charge for post-1989 forestry ETS participants.
    • Proposal 2: Amending the Climate Change (Forestry) Regulations 2022 for the field measurement approach during the 2023–25 reporting period.

    As part of this consultation, we are holding 2 webinars and an online hui.

    Summaries of the proposals are on this page and full details are in the discussion paper.

    Submissions are open from 23 October until 5pm on 13 November 2024.

    About Proposal 1

    If you have post-1989 forest land in the ETS, the per hectare annual charge is calculated for the financial year. It’s based on the amount of land you have in the ETS on 1 July.

    We are proposing to reduce the per hectare annual charge from $30.25 to $14.90, starting in the 2024–25 financial year.

    About Proposal 2

    Forestry participants with at least 100 hectares of post-1989 forest land in the ETS have to use the field measurement approach to calculate carbon stored in their forests for their emissions returns.

    When the previous (2023) cost recovery regulations were enacted, they imposed a service fee. The fee resulted in additional costs for those who could use their existing field measurement approach data or use default carbon tables to calculate carbon stock, during the shorter 2023–25 reporting period.

    To address this issue, we are proposing to update the regulations. This means, that for any emissions return that covers all or part of the shorter 2023–25 reporting period, people using the field measurement approach can calculate carbon stock using:

    • the default carbon tables (in regulations) if they do not have field measurement approach participant specific tables, or
    • existing participant specific tables if they have them.

    Discussion paper

    Resetting the Emissions Trading Scheme annual charge for post-1989 forestry participants [doc: 65715]

    Webinars on the proposals

    To support this consultation, we are running 2 webinars and an online hui. These sessions will provide an opportunity for you to ask questions and discuss the proposals. The online hui is a dedicated session for whenua Māori to give feedback on the proposals. You must register to attend the webinars or hui. 

    Times and dates of the webinars and the hui

    Webinar 1: 4pm on Thursday 31 October 2024.

    Register to attend Webinar 1 – Connect

    Webinar 2: 12pm on Thursday 7 November 2024.

    Register to attend Webinar 2 – Connect

    Online hui: 12pm on Monday 4 November 2024.

    Register to attend the online hui – Connect

    Making your submission

    Send us your feedback on the proposals in the consultation document by 5pm on 13 November 2024.

    We would prefer if you made a submission electronically – either by using the online form or by email. However, we will also accept written submissions sent by post.

    You are welcome to make your submission on the whole discussion document, or you can choose the areas relevant to you. Provide supporting evidence with your submission where possible.

    Online

    Online submission form – Alchemer

    Email

    If you are sending us a submission by email, we encourage you to use the submission template which has the same questions as the online form. 

    Submission template [doc: 65718]

    The email address is etsforestrychanges@mpi.govt.nz

    Post

    If you prefer to make your submission in writing, send it to:

    NZ ETS Cost Recovery
    Forestry System Directorate
    Ministry for Primary Industries
    PO Box 2526
    Wellington 6140.

    Submissions are public information

    Note that all, part, or a summary of your submission may be published on this website. Most often this happens when we issue a document that reviews the submissions received.

    People can also ask for copies of submissions under the Official Information Act 1982 (OIA). The OIA says we must make the content of submissions available unless we have good reason for withholding it. Those reasons are detailed in sections 6 and 9 of the OIA.

    If you think there are grounds to withhold specific information from publication, make this clear in your submission or contact us. Reasons may include that it discloses commercially sensitive or personal information. However, any decision MPI makes to withhold details can be reviewed by the Ombudsman, who may direct us to release it.

    Official Information Act 1982 – NZ Legislation

    MIL OSI New Zealand News –

  • MIL-OSI: O2Gold Announces C$1.5M Non-Brokered Private Placement

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

    TORONTO, Oct. 22, 2024 (GLOBE NEWSWIRE) — O2Gold Inc. (NEX:OTGO.H) (“O2Gold” or the “Company“) is pleased to announce a non-brokered private placement financing of: (i) 15,000,000 subscription receipts of the Company (the “Subscription Receipts”) at a price per Subscription Receipt of C$0.05; and (ii) 15,000,000 flow-through subscription receipts of the Company (the “FT Subscription Receipts”) at a price per FT Subscription Receipt of C$0.05, for aggregate gross proceeds to the Company of C$1,500,000 (together, the “Offering”).

    The Subscription Receipts and FT Subscription Receipts will be created and issued pursuant to the terms of subscription receipt agreements (each, a “Subscription Receipt Agreement“) between the Company and the subscribers. Each Subscription Receipt and FT Subscription Receipt will be deemed to be automatically converted, without payment of additional consideration or further action by the holder thereof, into one unit of the Company (a “Unit“) and one flow-through unit of the Company (a “FT Unit”), respectively, immediately upon the satisfaction or waiver of the Escrow Release Conditions (as defined below) at or before the date that is 120 days from the closing date of the Offering (the “Escrow Release Deadline”).

    Each Unit will consist of one common share in the capital of the Company (a “Common Share”) and one common share purchase warrant of the Company (a “Type 1 Warrant”). Each Type 1 Warrant will entitle the holder to acquire one Common Share (a “Type 1 Warrant Share”) at a price of C$0.08 per Type 1 Warrant Share for a period of 36 months following the closing date of the Offering. Each FT Unit will consist of one flow-through common share in the capital of the Company (a “FT Share”) and one common share purchase warrant of the Company (a “Type 2 Warrant”). Each Type 2 Warrant will entitle the holder to acquire one Common Share (a “Type 2 Warrant Share”) at a price of C$0.08 per Type 2 Warrant Share for a period of 24 months following the closing date of the Offering. Each FT Share shall qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”).

    The gross proceeds from the sale of FT Subscription Receipts will be used by the Company to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Tax Act (the “Qualifying Expenditures”) related to the Company’s project in Quebec. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Subscription Receipts effective December 31, 2024. The net proceeds from the sale of Subscription Receipts will be used by the Company for general working capital and corporate purposes, and for exploration costs incurred at the Company’s project in Quebec.

    Upon closing of the Offering, the gross proceeds of the Offering will be deposited in escrow with the Company’s legal counsel pending satisfaction or waiver of the Escrow Release Conditions, in accordance with the provisions of the Subscription Receipt Agreement. If the Escrow Release Conditions are not satisfied at or before the Escrow Release Deadline, each of the then issued and outstanding Subscription Receipts and FT Subscription Receipts will be cancelled and the Company’s legal counsel will return to each holder of Subscription Receipts and FT Subscription Receipts an amount equal to the aggregate issue price of the Subscription Receipts and FT Subscription Receipts held by such holder. To the extent that the escrowed funds are insufficient to refund such amounts to each holder of the Subscription Receipts and FT Subscription Receipts, the Company shall be liable for and will contribute such amounts as are necessary to satisfy the shortfall.

    Pursuant to the terms of the Subscription Receipt Agreement, each Subscription Receipt and FT Subscription Receipt shall automatically convert into one Unit and one FT Unit, respectively, upon:

    (a)  the receipt of all required regulatory approvals in connection with the uplisting of the Common Shares from the NEX to Tier 2 of the TSX Venture Exchange (the “Exchange”);

    (b)  the receipt of all required regulatory approvals in connection with the conditional listing approval by the Exchange for the listing of the Common Shares and FT Shares issued under the Offering, together with the listing of the Type 1 Warrant Shares and Type 2 Warrant Shares upon exercise of the Type 1 Warrants and Type 2 Warrants, respectively; and

    (c)  the Company having delivered a notice to the Company’s legal counsel confirming that all escrow release conditions have been met or waived;

    (collectively, the “Escrow Release Conditions”).

    The Offering is subject to the receipt of all regulatory approvals including the approval of the Exchange. All securities issued under the Offering will be subject to a hold period expiring four months and one day from the date of issuance. The Offering is expected to close on or about November 13, 2024, or such other date as determined by the Company.

    The Company may pay finders’ fees of up to 7.0% of the gross proceeds raised by the Company from the sale of Subscription Receipts and FT Subscription Receipts to subscribers directly introduced to the Company by eligible finders. The Company may issue to eligible finders non-transferable finders’ warrants of up to 7.0% of the number of Subscription Receipt and FT Subscription Receipts sold in the Offering. Each finders’ warrant will entitle the holder to acquire one Unit at a price of the greater of (i) C$0.05 and (ii) the Discounted Market Price (as such term is defined in the policies of the Exchange) of the common shares of the Company as of the date hereof per Unit for a period of 24 months from the date of issuance.

    This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold in the United States or to U.S. persons or in any other jurisdiction in which such offer or sale would be unlawful prior to registration under U.S. Securities Act of 1933 and applicable state securities laws or an exemption therefrom or qualification under the securities laws of such other jurisdiction or an exemption therefrom, respectively.

    About O2Gold

    O2Gold is a mineral exploration company.
    For additional information, please contact:
    Scott Moore, Chief Executive Officer
    Phone: (416) 861-1685
    Email: smoore@miningsm.com

    Regulatory Statements

    This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Offering, including the Company’s intended use of proceeds, closing conditions and timing, and other matters related thereto. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

    NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    The MIL Network –

  • MIL-OSI: Purpose Investments Inc. Announces Risk Rating Change for NVIDIA (NVDA) Yield Shares Purpose ETF

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 22, 2024 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) announced today that it has changed the risk rating for NVIDIA (NVDA) Yield Shares Purpose ETF (the “Fund”) from “medium-to-high” to “high”. Such change is a result of the risk rating methodology mandated by the Canadian Securities Administrators and the periodic review by Purpose to determine the risk level of its publicly-offered mutual funds.

    No material changes have been made to the investment objective, strategies or management of the Fund as a result. The change of the risk rating will be reflected in the Fund’s offering documents, which will be completed in accordance with applicable securities laws.

    About Purpose Investments

    Purpose Investments is an asset management company with approximately $20 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

    For further information please contact:
    Keera Hart
    Keera.Hart@kaiserpartners.com
    905-580-1257

    Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

    This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This press release is not for dissemination in the United States or for distribution to US news wire services.

    The MIL Network –

  • MIL-OSI New Zealand: NZ joins UK initiative for AI safety

    Source: New Zealand Government

    The Government is joining the UK’s Bletchley Declaration on Artificial Intelligence (AI) Safety, Minister of Science, Innovation and Technology, and for Digitising Government Judith Collins says.

    “AI used responsibly can be a game changer for New Zealand, supporting productivity, innovation, and economic development,” Ms Collins says

    “The UK’s Bletchley Declaration is an important international agreement which affirms the potential that AI offers for society and for economies. To achieve this, AI must be designed, developed, deployed and used responsibly and safely, and in a manner that is people-focused and can be trusted. 

    “In May we signed the Seoul Ministerial Statement for Advancing AI Safety which, coupled with the Bletchley Declaration and Cabinet’s confirmed approach to AI being in accordance with the OECD’s AI Principles, solidifies our focus on the responsible use of AI.   

    “Important safety standards and pressure will be applied on the international stage, and New Zealand is proud to be part of global efforts towards responsible AI.” 

    The Ministry of Business, Innovation and Employment has developed an initial cross-portfolio which focuses on policy changes, while the Department of Internal Affairs’ Government Chief Digital Officer is leading work to support public sector agencies to explore safe use of AI for efficiency and service delivery improvements.  

    “The Government will next year consult publicly on a national AI strategy to encourage greater use of AI to deliver better results for New Zealanders,” Ms Collins says.

    “I am confident that all the work under way will form a coherent approach to AI in New Zealand – delivering greater productivity, innovation and growing New Zealand’s economy to benefit all New Zealanders,” Ms Collins says.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: G20 meetings in the United States

    Source: Australian Treasurer

    I will join key economic ministers and central bank governors from the world’s most significant economies at the G20, International Monetary Fund and World Bank annual meetings over the coming days in Washington DC.

    Australia is not immune from the volatility and vulnerability which characterises the global economy.

    The risk of further escalation in the Middle East threatens a resurgence in oil prices and casts a dark shadow over the global outlook.

    Conflict in the Middle East compounds the pressures already coming at us from the war in Ukraine, the slowdown in China, persistent global inflation, tepid global growth and sharp movements on stock markets.

    There is always a premium on responsible economic management and engagement but especially now, with all this uncertainty around the world.

    This is a really critical time to confer with colleagues and counterparts.

    There will be in‑depth discussions on the global economy, the energy transformation, economic security and reform of our multilateral institutions.

    This will include meetings with:

    • New Japanese Finance Minister Katsonobu Kato, who I will meet for the first time;
    • US Treasury Secretary Janet Yellen, for our sixth bilateral;
    • Chair of the US Federal Reserve Jerome Powell;
    • Director of President Biden’s National Economic Council Lael Brainard;
    • South Korean Deputy Prime Minister and Minister of Economy Choi Sang‑Mok; and
    • Canadian Deputy Prime Minister Chrystia Freeland.

    I will participate in discussions as part of the G20 Taskforce on a Global Mobilisation Against Climate Change. Our focus will be on attracting the capital we need to create new jobs and opportunities in the transformation to cleaner and cheaper energy.

    I’ll also have an opportunity to be briefed on Australia’s interests in the United States by Ambassador Kevin Rudd.

    Responsible economic management is a defining feature of the Albanese Labor Government in these uncertain times.

    Our Budget surpluses aren’t an end in themselves, they help in the fight against inflation, provide room for our priorities and they help build buffers against some of this global volatility.

    Getting inflation down, helping with the cost of living, repairing the Budget and reforming our economy are the essential components of our strategy and we are making welcome progress.

    In a little over two years we have halved inflation, created a million new jobs, got real wages growing again, provided tax relief to every taxpayer, delivered the first back‑to‑back surpluses in two decades, avoided $150 billion of inherited debt and saved tens of billions of dollars in interest costs.

    These meetings will provide important perspectives on the global outlook and allow us to make further progress at home and with our key international partners.

    MIL OSI News –

  • MIL-OSI USA: Time’s Running Out! Louisiana Non-Profits: SBA Deadline for Hurricane Francine Property Damage Aid Nears

    Source: United States Small Business Administration

    “As communities across the Southeast continue to recover and rebuild after Hurricanes Helene and Milton, the SBA remains focused on its mission to provide support to small businesses to help stabilize local economies, even in the face of diminished disaster funding,” said Administrator Isabel Casillas Guzman. “If your business has sustained physical damage, or you’ve lost inventory, equipment or revenues, the SBA will help you navigate the resources available and work with you at our recovery centers or with our customer service specialists, in person and online, so you can fully submit your disaster loan application and be ready to receive financial relief as soon as funds are replenished.” 

    SACRAMENTO, Calif. – Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, today reminded Louisiana private nonprofit organizations of the Nov. 22, deadline to apply for an SBA federal disaster loan for property damage caused by Hurricane Francine that occurred Sept. 9-12. Private nonprofits that provide essential services of a governmental nature are eligible for assistance.

    According to Sánchez, eligible private nonprofits of any size may apply for SBA federal disaster loans of up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

    In addition, SBA offers Economic Injury Disaster Loans to help eligible private nonprofits meet working capital needs caused by the disaster. Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the private nonprofit suffered any property damage. Private nonprofits have until June 23, 2025, to apply for an SBA Economic Injury Disaster Loan.

    “SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” Sánchez continued. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.”

    These low-interest federal disaster loans are available in Ascension, Assumption, East Baton Rouge, East Feliciana, Iberville, Jefferson, Lafourche, Livingston, Orleans, Plaquemines, St. Bernard, St. Charles, St. Helena, St. Martin, St. Mary, St. Tammany, Tangipahoa, Terrebonne, Washington and West Feliciana parishes.

    The interest rate is 3.25 percent with terms up to 30 years. Loan amounts and terms are set by SBA and based on each applicant’s financial condition.

    Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.

    On October 15, 2024, it was announced that funds for the Disaster Loan Program have been fully expended. While no new loans can be issued until Congress appropriates additional funding, we remain committed to supporting disaster survivors. Applications will continue to be accepted and processed to ensure individuals and businesses are prepared to receive assistance once funding becomes available.

    Applicants are encouraged to submit their loan applications promptly for review in anticipation of future funding.

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

    ###

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

    MIL OSI USA News –

  • MIL-OSI USA: ERIE COUNTY – Governor Shapiro, Agriculture Secretary Redding to Announce Significant Investment in Local Potato Farm and Fry Company

    Source: US State of Pennsylvania

    October 23, 2024 – Waterford, PA

    ADVISORY – ERIE COUNTY – Governor Shapiro, Agriculture Secretary Redding to Announce Significant Investment in Local Potato Farm and Fry Company

    Governor Josh Shapiro and Agriculture Secretary Russell Redding will join Troyer, Inc. to announce the Commonwealth’s significant new investment in its organic farm fry company, Folkland Foods, to build out a state-of-the-art organic potato fry manufacturing plant, creating 50 new local jobs in the first three years.

    Folkland Foods is a start-up organic food company based in Erie County and will continue the Troyer family’s rich legacy and impact in the northwestern Pennsylvania snack foods industry.

    The Shapiro Administration’s Economic Development Strategy puts agriculture front and center – with the Governor’s 2024-25 budget making critical investment to support and attract new agricultural businesses and build the future of American agriculture right here in Pennsylvania.

    WHO:
    Governor Josh Shapiro
    Secretary of Agriculture Russell Redding
    Zachary Troyer, Co-Founder of Folkland Foods
    Brian Garlick, Chief Operating Officer of Folkland Foods

    WHEN:
    Wednesday, October 23, 2024 at 1:15 PM

    WHERE:
    Folkland Foods
    817 Rt. 97
    Waterford, PA 16441

    LIVE STREAM:
    pacast.com/live/gov
    governor.pa.gov/live/

    RSVP:
    Press who are interested in attending must RSVP with the names and phone numbers for each member of their team to ra-gvgovpress@pa.gov.

    MIL OSI USA News –

  • MIL-OSI: Enterprise Bancorp, Inc. Announces Third Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    LOWELL, Mass., Oct. 22, 2024 (GLOBE NEWSWIRE) — Enterprise Bancorp, Inc. (NASDAQ: EBTC), parent of Enterprise Bank, announced its financial results for the three months ended September 30, 2024. Net income amounted to $10.0 million, or $0.80 per diluted common share, for the three months ended September 30, 2024 compared to $9.5 million, or $0.77 per diluted common share, for the three months ended June 30, 2024 and $9.7 million, or $0.79 per diluted common share, for the three months ended September 30, 2023.

    Selected financial results at or for the quarter ended September 30, 2024 compared to June 30, 2024 were as follows:

    • The returns on average assets and average equity were 0.82% and 11.20%, respectively.
    • Tax-equivalent net interest margin (non-GAAP) (“net interest margin”) was 3.22%, an increase of 3 basis points.
    • Total loans amounted to $3.86 billion, an increase of 2.4%.
    • Total deposits amounted to $4.19 billion, a decrease of 1.4%.
    • Wealth assets under management and administration amounted to $1.51 billion, an increase of 8.5%.

    Chief Executive Officer Steven Larochelle commented, “Our team continued to deliver strong results in the third quarter. Loan growth was 2.4% for the quarter and 13.4% over the past twelve months. Customer deposits, which were down slightly during the quarter, have increased 5.3% in 2024 and 3.2% over the last twelve months. We continue to be primarily core funded and had no brokered deposits at September 30, 2024. Total borrowings were down $1.8 million compared to June 30, 2024, and amounted to only $59.9 million, or 1.3% of total assets. Higher deposit costs and the inverted yield curve continued to be a headwind, but net interest margin increased to 3.22% in the third quarter of 2024 from 3.19% in the prior quarter and benefited by 2 basis points from a large seasonal deposit.”

    Mr. Larochelle continued, “We remain committed to our long-term strategy of geographic expansion and customer acquisition through organic growth and investment in our team members, communities, products and technology. We are well positioned with a strong balance sheet, centered around a high-quality loan portfolio and favorable liquidity, core deposit funding and capital, paired with a conservative credit and reserve culture.”

    Executive Chairman & Founder George Duncan stated, “I would like to congratulate Steve, who completed his first quarter as CEO of Enterprise, and the whole team for a very successful quarter. I am particularly impressed that the team has been able to achieve such strong loan and deposit growth while stabilizing our net interest margin and without significant increases in wholesale funding. I firmly believe this is a testament to our relationship based, sales and service culture partnered with our strong commitment to community outreach and involvement.”

    Mr. Duncan added, “On September 5th, we were once again recognized at the Boston Business Journal’s Corporate Citizenship Summit for our significant contributions in employee volunteerism and corporate philanthropy. In particular, I am very proud that we ranked 2nd in the Commonwealth of Massachusetts for the highest average of volunteer hours per employee.”

    Net Interest Income
    Net interest income for the three months ended September 30, 2024, amounted to $38.0 million, a decrease of $482 thousand, or 1%, compared to the three months ended September 30, 2023. The decrease was due primarily to increases in deposit interest expense of $7.7 million and borrowings interest expense of $646 thousand and a decrease in income on other interest-earning assets of $971 thousand, partially offset by an increase in loan interest income of $9.3 million.

    The increase in interest expense during the period was attributed primarily to an increase in the cost of funds and changes in deposit mix, while the increase in interest income during the period was due primarily to loan growth and higher market interest rates.

    Net Interest Margin
    Net interest margin was 3.22% for the three months ended September 30, 2024, compared to 3.19% for the three months ended June 30, 2024 and 3.46% for the three months ended September 30, 2023.

    Asset yields for the third quarter of 2024 were 5.09%, an increase of 8 basis points compared to the second quarter of 2024, due primarily to new loan originations, loans repricing and an increase in the average balance of other interest-earning assets, which resulted mainly from deposit inflows during the period. Average total loans increased $105.3 million, or 3%, and average other interest-earning assets increased $57.6 million, or 46%, compared to the second quarter of 2024.

    The cost of funds for the third quarter of 2024 was 1.99%, an increase of 5 basis points compared to the second quarter of 2024. During the third quarter of 2024, average total deposits increased $128.8 million, or 3%, and the cost of deposits increased 6 basis points, compared to the second quarter of 2024. The increase in average total deposits was comprised of increases in average lower-cost checking account balances of $59.4 million, or 3%, which was driven primarily by a large seasonal deposit, and higher-cost savings, money market and certificate of deposit account balances of $69.4 million, or 3%.

    Provision for Credit Losses
    The provision for credit losses for the three-month periods ended September 30, 2024 and September 30, 2023 are presented below:

        Three months ended   Increase / (Decrease)
    (Dollars in thousands)   September 30,
    2024    		   September 30,
    2023
    Provision for credit losses on loans – collectively evaluated   $ (663 )   $ (1,518 )   $ 855  
    Provision for credit losses on loans – individually evaluated     2,311       2,512       (201 )
    Provision for credit losses on loans     1,648       994       654  
                 
    Provision for unfunded commitments     (316 )     758       (1,074 )
                 
    Provision for credit losses   $ 1,332     $ 1,752     $ (420 )

    The increase in the provision for credit losses on loans of $654 thousand was due primarily to a net increase in reserves on individually evaluated loans. The increase in reserves on individually evaluated loans for the three months ended September 30, 2024 was driven by one individually evaluated commercial relationship which was downgraded, placed on non-accrual and assigned specific reserves of $3.4 million, partially offset by a reduction of $1.2 million in specific reserves resulting from a commercial relationship that experienced improvement in its collateral valuation during the period. The reduction in the provision for unfunded commitments of $1.1 million was driven primarily by a decrease in off-balance sheet commitments during the period.

    Non-Interest Income
    Non-interest income for the three months ended September 30, 2024, amounted to $6.1 million, an increase of $1.7 million compared to the three months ended September 30, 2023. The increase in non-interest income was due primarily to increases in gains on equity securities, wealth management fees and deposit and interchange fees.

    Non-Interest Expense
    Non-interest expense for the three months ended September 30, 2024, amounted to $29.4 million, an increase of $1.0 million, or 4%, compared to the three months ended September 30, 2023. The increase in non-interest expense was due primarily to an increase in salaries and employee benefits expense of $938 thousand, or 5%.

    Balance Sheet
    Total assets amounted to $4.74 billion at September 30, 2024, compared to $4.47 billion at December 31, 2023, an increase of 6%.

    Total investment securities at fair value amounted to $632.0 million at September 30, 2024, compared to $668.2 million at December 31, 2023. The decrease of 5% during the nine months ended September 30, 2024 was largely attributable to principal pay-downs, calls and maturities. Unrealized losses on debt securities amounted to $80.8 million at September 30, 2024, compared to $102.9 million at December 31, 2023, a decrease of 21% that resulted from lower term interest rates.

    Total loans amounted to $3.86 billion at September 30, 2024, compared to $3.57 billion at December 31, 2023. The increase of 8% during the nine months ended September 30, 2024 was due primarily to increases in commercial real estate and construction loans of $175.2 million and $89.3 million, respectively.

    Total deposits amounted to $4.19 billion at September 30, 2024, compared to $3.98 billion at December 31, 2023. The increase of 5% during the nine months ended September 30, 2024 was due primarily to increases in money market and certificate of deposit balances of $85.5 million and $153.6 million, respectively.

    Total borrowed funds amounted to $59.9 million at September 30, 2024, compared to $25.8 million at December 31, 2023. The increase during the nine months ended September 30, 2024 resulted from a term advance in the first quarter of 2024.

    Total shareholders’ equity amounted to $368.1 million at September 30, 2024, compared to $329.1 million at December 31, 2023. The increase of 12% during the nine months ended September 30, 2024 was due primarily to an increase in retained earnings of $19.1 million and a decrease in the accumulated other comprehensive loss of $17.1 million.

    Credit Quality
    Selected credit quality metrics at September 30, 2024, compared to December 31, 2023, were as follows:

    • The ACL for loans amounted to $63.7 million, or 1.65% of total loans, compared to $59.0 million, or 1.65% of total loans.
    • The reserve for unfunded commitments (included in other liabilities) amounted to $4.6 million, compared to $7.1 million.
    • Non-performing loans amounted to $25.9 million, or 0.67% of total loans, compared to $11.4 million, or 0.32% of total loans. The increase in non-performing loans during the nine months ended September 30, 2024 resulted primarily from two individually evaluated commercial construction loans which were placed on non-accrual.

    Net recoveries amounted to $7 thousand for the three months ended September 30, 2024, compared to $12 thousand for the three months ended September 30, 2023.

    Wealth Management
    Wealth assets under management and administration, which are not carried as assets on the Company’s consolidated balance sheets, amounted to $1.51 billion at September 30, 2024, an increase of $194.9 million, or 15%, compared to December 31, 2023, and resulted primarily from an increase in market values.

    About Enterprise Bancorp, Inc.
    Enterprise Bancorp, Inc. is a Massachusetts corporation that conducts substantially all its operations through Enterprise Bank and Trust Company, commonly referred to as Enterprise Bank, and has reported 140 consecutive profitable quarters. Enterprise Bank is principally engaged in the business of attracting deposits from the general public and investing in commercial loans and investment securities. Through Enterprise Bank and its subsidiaries, the Company offers a range of commercial, residential and consumer loan products, deposit products and cash management services, electronic and digital banking options, as well as wealth management, and trust services. The Company’s headquarters and Enterprise Bank’s main office are located at 222 Merrimack Street in Lowell, Massachusetts. The Company’s primary market area is the Northern Middlesex, Northern Essex, and Northern Worcester counties of Massachusetts and the Southern Hillsborough and Southern Rockingham counties in New Hampshire. Enterprise Bank has 27 full-service branches located in the Massachusetts communities of Acton, Andover, Billerica (2), Chelmsford (2), Dracut, Fitchburg, Lawrence, Leominster, Lexington, Lowell (2), Methuen, North Andover, Tewksbury (2), Tyngsborough and Westford and in the New Hampshire communities of Derry, Hudson, Londonderry, Nashua (2), Pelham, Salem and Windham.

    Forward-Looking Statements
    This earnings release contains statements about future events that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by references to a future period or periods or by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “will,” “should,” “could,” “plan,” and other similar terms or expressions. Forward-looking statements should not be relied on because they involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of the Company. These risks, uncertainties, and other factors may cause the actual results, performance, and achievements of the Company to be materially different from the anticipated future results, performance or achievements expressed in, or implied by, the forward-looking statements. Factors that could cause such differences include, but are not limited to, the impact on us and our customers of a decline in general economic conditions and any regulatory responses thereto; potential recession in the United States and our market areas; the impacts related to or resulting from bank failures and any uncertainty in the banking industry, including the associated impact to the Company and other financial institutions of any regulatory changes or other mitigation efforts taken by government agencies in response thereto; increased competition for deposits and related changes in deposit customer behavior; the impact of changes in market interest rates, whether due to the current elevated interest rate environment or future reductions in interest rates and a resulting decline in net interest income; the resurgence of elevated levels of inflation or inflationary pressures in our market areas and the United States; the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; increases in unemployment rates in the United States and our market areas; declines in commercial real estate values and prices; uncertainty regarding United States fiscal debt, deficit and budget matters; cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events, including as a result of changes in U.S. presidential administrations or Congress; competition and market expansion opportunities; changes in non-interest expenditures or in the anticipated benefits of such expenditures; changes in tax laws; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; potential increased regulatory requirements and costs related to the transition and physical impacts of climate change; and current or future litigation, regulatory examinations or other legal and/or regulatory actions. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized and readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. For more information about these factors, please see our reports filed with or furnished to the U.S. Securities and Exchange Commission (the “SEC”), including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q on file with the SEC, including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Any forward-looking statements contained in this earnings release are made as of the date hereof, and we undertake no duty, and specifically disclaim any duty, to update or revise any such statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

    ENTERPRISE BANCORP, INC.
    Consolidated Balance Sheets
    (unaudited)

    (Dollars in thousands, except per share data)   September 30,
    2024    		   December 31,
    2023    		   September 30,
    2023
    Assets            
    Cash and cash equivalents:            
    Cash and due from banks   $ 60,466     $ 37,443     $ 45,345  
    Interest-earning deposits with banks     28,166       19,149       180,076  
    Total cash and cash equivalents     88,632       56,592       225,421  
    Investments:            
    Debt securities at fair value (amortized cost of $703,311, $763,981 and $806,077, respectively)     622,527       661,113       672,894  
    Equity securities at fair value     9,448       7,058       6,038  
    Total investment securities at fair value     631,975       668,171       678,932  
    Federal Home Loan Bank stock     2,482       2,402       2,403  
    Loans held for sale     1,229       200       —  
    Loans:            
    Total loans     3,858,940       3,567,631       3,404,014  
    Allowance for credit losses     (63,654 )     (58,995 )     (57,905 )
    Net loans     3,795,286       3,508,636       3,346,109  
    Premises and equipment, net     43,291       44,931       43,391  
    Lease right-of-use asset     24,291       24,820       24,979  
    Accrued interest receivable     20,529       19,233       18,572  
    Deferred income taxes, net     44,067       49,166       55,080  
    Bank-owned life insurance     66,899       65,455       65,106  
    Prepaid income taxes     4,645       1,589       2,548  
    Prepaid expenses and other assets     13,827       19,183       14,177  
    Goodwill     5,656       5,656       5,656  
    Total assets   $ 4,742,809     $ 4,466,034     $ 4,482,374  
    Liabilities and Shareholders‘Equity            
    Liabilities            
    Deposits   $ 4,189,461     $ 3,977,521     $ 4,060,403  
    Borrowed funds     59,949       25,768       4,290  
    Subordinated debt     59,736       59,498       59,419  
    Lease liability     24,010       24,441       24,589  
    Accrued expenses and other liabilities     32,116       45,011       31,288  
    Accrued interest payable     9,428       4,678       2,686  
    Total liabilities     4,374,700       4,136,917       4,182,675  
    Commitments and Contingencies            
    Shareholders‘Equity            
    Preferred stock, $0.01 par value per share; 1,000,000 shares authorized; no shares issued     —       —       —  
    Common stock, $0.01 par value per share; 40,000,000 shares authorized; 12,428,426, 12,272,674 and 12,256,964 shares issued and outstanding, respectively.     124       123       123  
    Additional paid-in capital     110,110       107,377       106,451  
    Retained earnings     320,497       301,380       296,291  
    Accumulated other comprehensive loss     (62,622 )     (79,763 )     (103,166 )
    Total shareholders’ equity     368,109       329,117       299,699  
    Total liabilities and shareholders’ equity   $ 4,742,809     $ 4,466,034     $ 4,482,374  

    ENTERPRISE BANCORP, INC.
    Consolidated Statements of Income
    (unaudited)

        Three months ended   Nine months ended
    (Dollars in thousands, except per share data)   September 30,
    2024    		   June 30,
    2024    		   September 30,
    2023    		   September 30,
    2024    		   September 30,
    2023
    Interest and dividend income:                    
    Other interest-earning assets   $         2,497             $         1,697           $         3,468             $         5,366             $         7,593          
    Investment securities             3,835                       3,943                     4,316                       11,812                       14,356          
    Loans and loans held for sale             53,809                       51,224                     44,501                       153,850                       125,855          
    Total interest and dividend income             60,141                       56,864                     52,285                       171,028                       147,804          
    Interest expense:                    
    Deposits             20,581                       19,172                     12,889                       57,025                       28,568          
    Borrowed funds             674                       664                     28                       2,032                       70          
    Subordinated debt             866                       867                     866                       2,600                       2,600          
    Total interest expense             22,121                       20,703                     13,783                       61,657                       31,238          
    Net interest income             38,020                       36,161                     38,502                       109,371                       116,566          
    Provision for credit losses             1,332                       137                     1,752                       2,091                       6,756          
    Net interest income after provision for credit losses             36,688                       36,024                     36,750                       107,280                       109,810          
    Non-interest income:                    
    Wealth management fees             2,025                       1,970                     1,673                       5,845                       4,933          
    Deposit and interchange fees             2,282                       2,284                     1,987                       6,635                       6,330          
    Income on bank-owned life insurance, net             518                       503                     327                       1,479                       950          
    Net losses on sales of debt securities             (2 )             —                     —                       (2 )             (2,419 )
    Net gains on sales of loans             57                       44                     14                       123                       34          
    Net gains (losses) on equity securities             604                       101                     (181 )             1,170                       (8 )
    Other income             656                       726                     666                       2,013                       2,242          
    Total non-interest income             6,140                       5,628                     4,486                       17,263                       12,062          
    Non-interest expense:                    
    Salaries and employee benefits             20,097                       19,675                     19,159                       58,948                       53,815          
    Occupancy and equipment expenses             2,438                       2,406                     2,433                       7,303                       7,439          
    Technology and telecommunications expenses             2,618                       2,658                     2,626                       8,021                       7,937          
    Advertising and public relations expenses             559                       674                     592                       1,976                       2,077          
    Audit, legal and other professional fees             569                       711                     735                       2,014                       2,157          
    Deposit insurance premiums             900                       862                     654                       2,621                       1,944          
    Supplies and postage expenses             261                       240                     251                       738                       753          
    Other operating expenses             1,911                       1,803                     1,862                       5,669                       5,853          
    Total non-interest expense             29,353                       29,029                     28,312                       87,290                       81,975          
    Income before income taxes             13,475                       12,623                     12,924                       37,253                       39,897          
    Provision for income taxes             3,488                       3,111                     3,225                       9,247                       9,746          
    Net income   $         9,987             $         9,512           $         9,699             $         28,006             $         30,151          
                         
    Basic earnings per common share   $         0.80             $         0.77           $         0.79             $         2.26             $         2.47          
    Diluted earnings per common share   $         0.80             $         0.77           $         0.79             $         2.26             $         2.46          
                         
    Basic weighted average common shares outstanding             12,428,543                       12,389,917                     12,247,892                       12,370,812                       12,210,740          
    Diluted weighted average common shares outstanding             12,438,160                       12,394,463                     12,264,778                       12,379,390                       12,233,861          

    ENTERPRISE BANCORP, INC.
    Selected Consolidated Financial Data and Ratios
    (unaudited)

        At or for the three months ended
    (Dollars in thousands, except per share data)   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
    Balance Sheet Data                    
    Total cash and cash equivalents   $ 88,632     $ 199,719     $ 147,834     $ 56,592     $ 225,421  
    Total investment securities at fair value     631,975       636,838       652,026       668,171       678,932  
    Total loans     3,858,940       3,768,649       3,654,322       3,567,631       3,404,014  
    Allowance for credit losses     (63,654 )     (61,999 )     (60,741 )     (58,995 )     (57,905 )
    Total assets     4,742,809       4,773,681       4,624,015       4,466,034       4,482,374  
    Total deposits     4,189,461       4,248,801       4,106,119       3,977,521       4,060,403  
    Borrowed funds     59,949       61,785       63,246       25,768       4,290  
    Subordinated debt     59,736       59,657       59,577       59,498       59,419  
    Total shareholders’ equity     368,109       340,441       333,439       329,117       299,699  
    Total liabilities and shareholders’ equity     4,742,809       4,773,681       4,624,015       4,466,034       4,482,374  
                         
    Wealth Management                    
    Wealth assets under management   $ 1,212,076     $ 1,129,147     $ 1,105,036     $ 1,077,761     $ 984,647  
    Wealth assets under administration   $ 302,891     $ 267,529     $ 268,074     $ 242,338     $ 211,046  
                         
    Shareholders’ Equity Ratios                    
    Book value per common share   $ 29.62     $ 27.40     $ 26.94     $ 26.82     $ 24.45  
    Dividends paid per common share   $ 0.24     $ 0.24     $ 0.24     $ 0.23     $ 0.23  
                         
    Regulatory Capital Ratios                    
    Total capital to risk weighted assets     13.07 %     13.07 %     13.20 %     13.12 %     13.45 %
    Tier 1 capital to risk weighted assets(1)     10.36 %     10.34 %     10.43 %     10.34 %     10.61 %
    Tier 1 capital to average assets     8.68 %     8.76 %     8.85 %     8.74 %     8.59 %
                         
    Credit Quality Data                    
    Non-performing loans   $ 25,946     $ 17,731     $ 18,527     $ 11,414     $ 11,656  
    Non-performing loans to total loans     0.67 %     0.47 %     0.51 %     0.32 %     0.34 %
    Non-performing assets to total assets     0.55 %     0.37 %     0.40 %     0.26 %     0.26 %
    ACL for loans to total loans     1.65 %     1.65 %     1.66 %     1.65 %     1.70 %
    Net (recoveries) charge-offs   $ (7 )   $ (130 )   $ 122     $ 15     $ (12 )
                         
    Income Statement Data                    
    Net interest income   $ 38,020     $ 36,161     $ 35,190     $ 36,518     $ 38,502  
    Provision for credit losses     1,332       137       622       2,493       1,752  
    Total non-interest income     6,140       5,628       5,495       5,547       4,486  
    Total non-interest expense     29,353       29,029       28,908       28,224       28,312  
    Income before income taxes     13,475       12,623       11,155       11,348       12,924  
    Provision for income taxes     3,488       3,111       2,648       3,441       3,225  
    Net income   $ 9,987     $ 9,512     $ 8,507     $ 7,907     $ 9,699  
                         
    Income Statement Ratios                    
    Diluted earnings per common share   $ 0.80     $ 0.77     $ 0.69     $ 0.64     $ 0.79  
    Return on average total assets     0.82 %     0.82 %     0.75 %     0.69 %     0.85 %
    Return on average shareholders’ equity     11.20 %     11.55 %     10.47 %     10.21 %     12.53 %
    Net interest margin (tax-equivalent)(2)     3.22 %     3.19 %     3.20 %     3.29 %     3.46 %

    (1)   Ratio also represents common equity tier 1 capital to risk weighted assets as of the periods presented.
    (2)   Tax-equivalent net interest margin is net interest income adjusted for the tax-equivalent effect associated with tax-exempt loan and investment income, expressed as a percentage of average interest-earning assets.

    ENTERPRISE BANCORP, INC.
    Consolidated Loan and Deposit Data
    (unaudited)

    Major classifications of loans at the dates indicated were as follows:

    (Dollars in thousands)   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
    Commercial real estate owner-occupied   $ 660,063     $ 660,478     $ 635,420     $ 619,302     $ 618,903  
    Commercial real estate non owner-occupied     1,579,827       1,544,386       1,524,174       1,445,435       1,413,555  
    Commercial and industrial     415,642       426,976       417,604       430,749       425,334  
    Commercial construction     674,434       622,094       583,711       585,113       501,179  
    Total commercial loans     3,329,966       3,253,934       3,160,909       3,080,599       2,958,971  
                         
    Residential mortgages     424,030       413,323       400,093       393,142       362,514  
    Home equity loans and lines     95,982       93,220       85,144       85,375       74,433  
    Consumer     8,962       8,172       8,176       8,515       8,096  
    Total retail loans     528,974       514,715       493,413       487,032       445,043  
    Total loans     3,858,940       3,768,649       3,654,322       3,567,631       3,404,014  
                         
    ACL for loans     (63,654 )     (61,999 )     (60,741 )     (58,995 )     (57,905 )
    Net loans   $ 3,795,286     $ 3,706,650     $ 3,593,581     $ 3,508,636     $ 3,346,109  

    Deposits are summarized as follows as of the periods indicated:

    (Dollars in thousands)   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
    Non-interest checking   $ 1,064,424   $ 1,041,771   $ 1,038,887   $ 1,061,009   $ 1,118,714
    Interest-bearing checking     682,050     788,822     730,819     697,632     727,817
    Savings     279,824     294,566     285,090     294,865     302,381
    Money market     1,488,437     1,504,551     1,469,181     1,402,939     1,434,036
    CDs $250,000 or less     375,055     358,149     337,367     295,789     262,975
    CDs greater than $250,000     299,671     260,942     244,775     225,287     214,480
    Deposits   $ 4,189,461   $ 4,248,801   $ 4,106,119   $ 3,977,521   $ 4,060,403

    ENTERPRISE BANCORP, INC.
    Consolidated Average Balance Sheets and Yields (tax-equivalent basis)
    (unaudited)

    The following table presents the Company’s average balance sheets, net interest income and average rates for the periods indicated:

        Three months ended September 30, 2024   Three Months Ended June 30, 2024   Three months ended September 30, 2023
    (Dollars in thousands)   Average
    Balance    		   Interest(1)   Average
    Yield(1)    		   Average
    Balance    		   Interest(1)   Average
    Yield(1)    		   Average
    Balance    		   Interest(1)   Average
    Yield(1)
    Assets:                                    
    Other interest-earning assets(2)   $ 181,465   $ 2,497   5.48 %   $ 123,887   $ 1,697   5.51 %   $ 260,475   $ 3,468   5.28 %
    Investment securities(3)(tax-equivalent)     731,815     3,945   2.16 %     750,822     4,057   2.16 %     820,156     4,444   2.17 %
    Loans and loans held for sale(4)(tax-equivalent)     3,813,800     53,956   5.63 %     3,708,485     51,366   5.57 %     3,372,754     44,644   5.25 %
    Total interest-earnings assets (tax-equivalent)     4,727,080     60,398   5.09 %     4,583,194     57,120   5.01 %     4,453,385     52,556   4.69 %
    Other assets     104,284             96,991             82,190        
    Total assets   $ 4,831,364           $ 4,680,185           $ 4,535,575        
                                         
    Liabilities and stockholders’ equity:                                    
    Non-interest checking   $ 1,069,130     —       $ 1,044,648     —       $ 1,186,243     —    
    Interest checking, savings and money market     2,574,439     13,017   2.01 %     2,520,439     12,381   1.98 %     2,491,229     9,185   1.47 %
    CDs     651,614     7,564   4.62 %     601,339     6,791   4.54 %     430,376     3,704   3.41 %
    Total deposits     4,295,183     20,581   1.91 %     4,166,426     19,172   1.85 %     4,107,848     12,889   1.24 %
    Borrowed funds     61,232     674   4.38 %     62,513     664   4.27 %     4,938     28   2.30 %
    Subordinated debt(5)     59,689     866   5.81 %     59,609     867   5.82 %     59,372     866   5.84 %
    Total funding liabilities     4,416,104     22,121   1.99 %     4,288,548     20,703   1.94 %     4,172,158     13,783   1.31 %
    Other liabilities     60,524             60,270             56,414        
    Total liabilities     4,476,628             4,348,818             4,228,572        
    Stockholders’ equity     354,736             331,367             307,003        
    Total liabilities and stockholders’ equity   $ 4,831,364           $ 4,680,185           $ 4,535,575        
                                         
    Net interest-rate spread (tax-equivalent)           3.10 %           3.07 %           3.38 %
    Net interest income (tax-equivalent)         38,277             36,417             38,773    
    Net interest margin (tax-equivalent)           3.22 %           3.19 %           3.46 %
    Less tax-equivalent adjustment         257             256             271    
    Net interest income       $ 38,020           $ 36,161           $ 38,502    
    Net interest margin           3.20 %           3.17 %           3.43 %

    (1)   Average yields and interest income are presented on a tax-equivalent basis, calculated using a U.S. federal income tax rate of 21% for each period presented, based on tax-equivalent adjustments associated with tax-exempt loans and investments interest income.
    (2)   Average other interest-earning assets include interest-earning deposits with banks, federal funds sold and Federal Home Loan Bank stock
    (3)   Average investment securities are presented at average amortized cost.
    (4)   Average loans and loans held for sale are presented at average amortized cost and include non-accrual loans.
    (5)   Subordinated debt is net of average deferred debt issuance costs.

    Contact Info:        Joseph R. Lussier, Executive Vice President, Chief Financial Officer and Treasurer (978) 656-5578

    The MIL Network –

  • MIL-OSI USA: Sinema, Kelly Announce Nearly $107 Million Investment to Strengthen Gila River Indian Community’s Water Supply

    US Senate News:

    Source: United States Senator Kyrsten Sinema (Arizona)
    Law shaped by Sinema and Kelly provides the necessary funding for the agreement which has the potential to create system conservation of over 73,000 acre-feet within the next 10 years for the Gila River Indian Community
    WASHINGTON – Arizona Senators Kyrsten Sinema and Mark Kelly announced approximately $107,000,000 coming to the Gila River Indian Community to fulfill long-term water conservation agreements critical to Arizona’s water future and the long-term health of the Colorado River System. 
    The $107 million – allocated through the Sinema and Kelly shaped Inflation Reduction Act – will fund three projects for the Gila River Indian Community: $64 million to replace and upgrade irrigation systems on Gila River Farms, $26 million to concrete line more than 7.5 miles of earthen canals in the Blackwater area, and $17 million to construct a regulating reservoir to capture flows that are currently being spilled from the Santan Canal when too much water is accidentally ordered or delivered into the system.
    “Arizona continues to lead the way in water conservation. I’m proud to help secure nearly $107 million for the Gila River Indian Community – a critical step towards securing Arizona, and the entire West’s, water future for generations to come,” said Sinema. 
    “Upgrading irrigation systems and improving water management will help the Gila River Indian Community conserve more water and strengthen Arizona’s resilience to drought,” said Kelly. “These projects and the leadership of the Gila River Indian Community are essential to building a sustainable water future for Arizona, that protects the Colorado River and the communities that rely on it.” 
    “Our congressional champions, especially Senator Sinema, worked hard to include drought relief funding for the Colorado River in the IRA. Their foresight and determination provided us with the resources necessary to launch these projects.  By investing time and energy into careful planning, and in close partnership with our trustee, the Bureau of Reclamation, we were able to not only sign the first Bucket 2 infrastructure investment agreements, but also to break ground on all three of them this month,” said Governor Lewis. He continued, “Arizona is leading the way in combatting drought, and we are proud that we have been able to be the first to put the resources our congressional champions and this Administration made available to us.”
    In June, the U.S. Department of the Interior and the U.S. Bureau of Land Management announced an initial $700 million investment from the Inflation Reduction Act to support long-term water conservation and protect the health of the Colorado River System. 
    The agreements with the Gila River Indian Community represent the first long-term agreements to be signed and have the potential to create system conservation of over 73,000 acre-feet within the next 10 years. 
    Last year, Sinema secured a nearly $64 million investment to fulfill new water conservation agreements across Arizona – including from tribal communities, local municipalities, and a farm – which will conserve up to 162,710-acre feet of water in Lake Mead through 2026.
    Between Sinema’s bipartisan Infrastructure Investments and Jobs Act and the Inflation Reduction Act, the Senator has secured more than $12 billion in drought relief and Western water funding that made this investment possible.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Prime Minister warns Russian threat to global stability is accelerating as Putin ramps up attacks on Black Sea

    Source: United Kingdom – Executive Government & Departments

    Russia has stepped up attacks on Ukrainian port infrastructure in the Black Sea, delaying vital aid from reaching Palestinians, and stopping crucial grain supplies from being delivered to the global south.

    • Grain ships collateral damage in the Black Sea as Russian risk appetite increases, UK intelligence shows.
    • Prime Minister calls out Russia’s actions, saying the Black Sea strikes underscore that Putin is willing to risk anything in attempts to force Ukraine into submission.
    • UK and Norway at the forefront of protecting the corridor, funding cutting edge maritime capabilities for Ukraine to ensure grain can reach the global south.

    Russia has stepped up attacks on Ukrainian port infrastructure in the Black Sea, delaying vital aid from reaching Palestinians, and stopping crucial grain supplies from being delivered to the global south.

    The acceleration in attacks coincides with harvest season in Ukraine, a country which remains a major supplier of agricultural produce, crucial for global food security.

    Putin’s almost 1000-day conflict in Ukraine has reduced supplies for some of the world’s most in need and helped drive up food and fuel prices across the globe.

    Now, UK intelligence shows that there has been a noticeable increase in Russian risk appetite when conducting strikes on port infrastructure, with grain ships becoming collateral damage in Russia’s campaign. 

    Those strikes are believed to have delayed the MV SHUI SPIRIT from departing Ukraine while carrying vegetable oil destined for the World Food Programme in Palestine.

    It has also hit ships loaded with grain destined for Egypt, two vessels carrying corn – which Ukraine is the second biggest supplier to China of – and World Food Programme shipments bound for southern Africa. 

    Prime Minister Keir Starmer said:

    “Russia’s indiscriminate strikes on ports in the Black Sea underscore that Putin is willing to gamble on global food security in his attempts to force Ukraine into submission. 

    ‘’In doing so, he is harming millions of vulnerable people across Africa, Asia and the Middle East, to try and gain the upper hand in his barbaric war. 

    “In recent weeks, we have seen reporting that the Kremlin has been forced to turn to North Korea to provide troops to fuel its self-destructing war machine, an embarrassing and desperate act, and now they are intensifying attacks on areas of Ukraine that support the global south with much-needed food. 

    “Russia has no respect for the norms and laws that govern our international system. Not only was their illegal invasion a blatant attack on the principles of the UN Charter, but the way they have executed their war in Ukraine shows no respect for human life, or the consequences of their invasion across the world.” 

    According to Defence Intelligence, between 05 – 14 October 2024, at least four merchant vessels have been struck by Russian munitions. 

    These include: 

    1.       05 October 2024 – Yuzhny port – MV PARESA (St Kitts and Nevis flagged) was almost certainly the target of the strike that damaged it. Following the attack, the Russian MoD released a video of what they say shows the vessel unloading containerised cargo which they likely perceive to be weapons. 

    2.       07 October 2024 – Odesa port – MV  OPTIMA (Palau flagged). There is a realistic possibility that the vessel was collateral damage as a result of a strike on port infrastructure and was not the direct target of the attack. MV OPTIMA was also likely further damaged in a strike on port infrastructure on 15 October 2024. 

    3.       08 October 2024 – Chronomorsk port MV SHUI SPIRIT (Panama flagged).Ukraine’s Minister of Agrarian Policy and Food Vitalii Koval stated the MV SHUI SPIRIT was carrying sunflower oil as part of a UN shipment. However, the vessel was a containerised cargo carrier and noting the earlier strike on MV OPTIMA, there is a realistic possibility that this vessel was also the target of the strike as opposed to collateral damage. 

    4.       14 October 2024 – Odesa port – NS MOON (Belize flagged) was likely damaged in strikes on port infrastructure. The vessel was likely collateral damage in strikes on port infrastructure. 

    The announcement comes as this government announces a further £2.26 billion for Ukraine as part of the UK’s contribution to the G7 Extraordinary Revenue Acceleration (ERA) Loans to Ukraine scheme.  

    Through the scheme, $50 billion from G7 countries will be delivered to Ukraine for its military, budget and reconstruction needs. The loan will be repaid using the extraordinary profits on immobilised Russian sovereign assets. 

    The UK has been at the forefront of work to protect the maritime corridor in the Black Sea. The Maritime Capability Coalition – led by the UK and Norway – is focused on delivering a future naval fighting force for Ukraine and has been instrumental in helping to equip Ukraine’s navy with items such as uncrewed surface vessels, better known as maritime drones, which will protect the corridor. 

    The UK is donating an additional £120 million toward the Maritime Capability Coalition and is seeking partners to co-fund delivery of hundreds more maritime drones (aerial and uncrewed boats), as well as surveillance radars to protect the Grain Corridor. 

    And together, the UK and Norway are seeking a further £100 million to co-fund hundreds more. 

    Recent gifting packages have provided dozens of amphibious all-terrain vehicles and raiding craft, hundreds of anti-ship missiles for coastal defence and river operations, and hundreds of thousands of rounds of ammunition to accompany the machine guns we have provided. 

    Russia’s brutal and indiscriminate attacks have not been limited to the Black Sea, Putin’s forces have also been targeting civilian infrastructure in Ukraine throughout this year, aiming to make life intolerable for the Ukrainian people, especially as the country heads into winter. 

    They have attacked thousands of civilian targets, including hospitals and energy infrastructure. 

    Open-source intelligence shows there has been 1,522 attacks on Ukraine’s health care system since February 2022, 774 attacks damaged or destroyed hospitals and clinics, and 234 health workers have been killed.

    Updates to this page

    Published 22 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Press release: Prime Minister warns Russian threat to global stability is accelerating as Putin ramps up attacks on Black Sea

    Source: United Kingdom – Prime Minister’s Office 10 Downing Street

    Russia has stepped up attacks on Ukrainian port infrastructure in the Black Sea, delaying vital aid from reaching Palestinians, and stopping crucial grain supplies from being delivered to the global south.

    • Grain ships collateral damage in the Black Sea as Russian risk appetite increases, UK intelligence shows.
    • Prime Minister calls out Russia’s actions, saying the Black Sea strikes underscore that Putin is willing to risk anything in attempts to force Ukraine into submission.
    • UK and Norway at the forefront of protecting the corridor, funding cutting edge maritime capabilities for Ukraine to ensure grain can reach the global south.

    Russia has stepped up attacks on Ukrainian port infrastructure in the Black Sea, delaying vital aid from reaching Palestinians, and stopping crucial grain supplies from being delivered to the global south.

    The acceleration in attacks coincides with harvest season in Ukraine, a country which remains a major supplier of agricultural produce, crucial for global food security.

    Putin’s almost 1000-day conflict in Ukraine has reduced supplies for some of the world’s most in need and helped drive up food and fuel prices across the globe.

    Now, UK intelligence shows that there has been a noticeable increase in Russian risk appetite when conducting strikes on port infrastructure, with grain ships becoming collateral damage in Russia’s campaign. 

    Those strikes are believed to have delayed the MV SHUI SPIRIT from departing Ukraine while carrying vegetable oil destined for the World Food Programme in Palestine.

    It has also hit ships loaded with grain destined for Egypt, two vessels carrying corn – which Ukraine is the second biggest supplier to China of – and World Food Programme shipments bound for southern Africa. 

    Prime Minister Keir Starmer said:

    “Russia’s indiscriminate strikes on ports in the Black Sea underscore that Putin is willing to gamble on global food security in his attempts to force Ukraine into submission. 

    ‘’In doing so, he is harming millions of vulnerable people across Africa, Asia and the Middle East, to try and gain the upper hand in his barbaric war. 

    “In recent weeks, we have seen reporting that the Kremlin has been forced to turn to North Korea to provide troops to fuel its self-destructing war machine, an embarrassing and desperate act, and now they are intensifying attacks on areas of Ukraine that support the global south with much-needed food. 

    “Russia has no respect for the norms and laws that govern our international system. Not only was their illegal invasion a blatant attack on the principles of the UN Charter, but the way they have executed their war in Ukraine shows no respect for human life, or the consequences of their invasion across the world.” 

    According to Defence Intelligence, between 05 – 14 October 2024, at least four merchant vessels have been struck by Russian munitions. 

    These include: 

    1.       05 October 2024 – Yuzhny port – MV PARESA (St Kitts and Nevis flagged) was almost certainly the target of the strike that damaged it. Following the attack, the Russian MoD released a video of what they say shows the vessel unloading containerised cargo which they likely perceive to be weapons. 

    2.       07 October 2024 – Odesa port – MV  OPTIMA (Palau flagged). There is a realistic possibility that the vessel was collateral damage as a result of a strike on port infrastructure and was not the direct target of the attack. MV OPTIMA was also likely further damaged in a strike on port infrastructure on 15 October 2024. 

    3.       08 October 2024 – Chronomorsk port MV SHUI SPIRIT (Panama flagged).Ukraine’s Minister of Agrarian Policy and Food Vitalii Koval stated the MV SHUI SPIRIT was carrying sunflower oil as part of a UN shipment. However, the vessel was a containerised cargo carrier and noting the earlier strike on MV OPTIMA, there is a realistic possibility that this vessel was also the target of the strike as opposed to collateral damage. 

    4.       14 October 2024 – Odesa port – NS MOON (Belize flagged) was likely damaged in strikes on port infrastructure. The vessel was likely collateral damage in strikes on port infrastructure. 

    The announcement comes as this government announces a further £2.26 billion for Ukraine as part of the UK’s contribution to the G7 Extraordinary Revenue Acceleration (ERA) Loans to Ukraine scheme.  

    Through the scheme, $50 billion from G7 countries will be delivered to Ukraine for its military, budget and reconstruction needs. The loan will be repaid using the extraordinary profits on immobilised Russian sovereign assets. 

    The UK has been at the forefront of work to protect the maritime corridor in the Black Sea. The Maritime Capability Coalition – led by the UK and Norway – is focused on delivering a future naval fighting force for Ukraine and has been instrumental in helping to equip Ukraine’s navy with items such as uncrewed surface vessels, better known as maritime drones, which will protect the corridor. 

    The UK is donating an additional £120 million toward the Maritime Capability Coalition and is seeking partners to co-fund delivery of hundreds more maritime drones (aerial and uncrewed boats), as well as surveillance radars to protect the Grain Corridor. 

    And together, the UK and Norway are seeking a further £100 million to co-fund hundreds more. 

    Recent gifting packages have provided dozens of amphibious all-terrain vehicles and raiding craft, hundreds of anti-ship missiles for coastal defence and river operations, and hundreds of thousands of rounds of ammunition to accompany the machine guns we have provided. 

    Russia’s brutal and indiscriminate attacks have not been limited to the Black Sea, Putin’s forces have also been targeting civilian infrastructure in Ukraine throughout this year, aiming to make life intolerable for the Ukrainian people, especially as the country heads into winter. 

    They have attacked thousands of civilian targets, including hospitals and energy infrastructure. 

    Open-source intelligence shows there has been 1,522 attacks on Ukraine’s health care system since February 2022, 774 attacks damaged or destroyed hospitals and clinics, and 234 health workers have been killed.

    Updates to this page

    Published 22 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI USA: CFTC to Hold a Commission Open Meeting October 29

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — Commodity Futures Trading Commission Chairman Rostin Behnam today announced the Commission will hold an open meeting Tuesday, Oct. 29 at 10:00 a.m. – 4:30 p.m. (EDT) at the CFTC’s Washington, D.C. headquarters. Members of the public can attend the meeting in person, listen by phone, or view a live stream at CFTC.gov.

    The Commission will consider the following: 

    • Final Rule – Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants 
    • Final Rule – Investment of Customer Funds by Futures Commission Merchants and Derivatives Clearing Organizations
       
    • Final Rule – Derivatives Clearing Organizations Recovery and Orderly Wind-down Plans; Information for Resolution Planning
       
    • Commission Fall 2024 Unified Agenda Submission
       
    • CFTC Executive and Supervisor Compensation Structures

    What:

    Commission Open Meeting

    Location:

    CFTC Headquarters Conference Center

    Three Lafayette Centre

    1155 21st Street N.W.

    Washington, D.C. 20581 

    When:

    Tuesday, Oct. 29, 2024

    10:00 a.m. – 4:30 p.m. (EDT)

    Virtual Viewing/Listening Instructions: To access the live meeting feed, use the dial-in numbers below or stream at CFTC.gov. A live feed can also be streamed through the CFTC’s YouTube channel. Call-in participants should be prepared to provide their first name, last name, and affiliation, if applicable. Materials presented at the meeting, if any, will be made available online. Persons requiring special accommodations to access the virtual meeting because of disabilities should email [email protected].

    Participation Details

    Domestic Toll-Free:

     

    Domestic Toll:

     

    +1 833 568 8864 or +1 833 435 1820 

     

    +1 669 254 5252 or +1 646 828 7666 or +1 551 285 1373 or +1 669 216 1590 or (U.S. Spanish Lines) +1 415 449 4000 or +1 646 964 1167

    Webinar ID:

    161 486 1920

    Passcode: 239574

    International Numbers:

    International Numbers

    MIL OSI USA News –

  • MIL-OSI USA: Governor Cooper Urges Western North Carolinians to Enroll in Disaster Supplement Nutrition Assistance Program (D-SNAP) as Relief Efforts Continue

    Source: US State of North Carolina

    Headline: Governor Cooper Urges Western North Carolinians to Enroll in Disaster Supplement Nutrition Assistance Program (D-SNAP) as Relief Efforts Continue

    Governor Cooper Urges Western North Carolinians to Enroll in Disaster Supplement Nutrition Assistance Program (D-SNAP) as Relief Efforts Continue
    mseets

    As relief efforts continue in Western North Carolina, Governor Cooper is encouraging Western North Carolinians affected by Hurricane Helene to enroll in Disaster Supplemental Nutrition Assistance Program (D-SNAP) this week by the Thursday deadline. Eligible households can apply for help buying food through D-SNAP.

    “We know many North Carolinians were affected by Helene and D-SNAP is one of the many ways we are taking action to get help to those who need it,” said Governor Cooper. “I encourage all those eligible to apply by Thursday’s deadline. We will continue to support communities and families every step of the way as they recover.”

    The deadline to apply for D-SNAP is Thursday, October 24, 2024. Eligible households may apply for D-SNAP through Thursday, October 24 by phone or in person. More information including a list of application sites by county is available at ncdhhs.gov/dsnap.

    North Carolina National Guard and Military Response

    Over 3,000 Soldiers and Airmen are working in Western North Carolina. Joint Task Force- North Carolina, the task force led by the North Carolina National Guard is made up of Soldiers and Airmen from 12 different states, two different XVIII Airborne Corps units from Ft. Liberty, a unit from Ft. Campbell’s 101st Airborne Division, and numerous civilian entities are working side-by-side to get the much-needed help to people in Western North Carolina.

    The U.S. Army Corps of Engineers is helping to assess water and wastewater plants and dams. Residents can track the status of the public water supply in their area through this website.

    FEMA Assistance

    Approximately $133 million in FEMA Individual Assistance funds have been paid so far to Western North Carolina disaster survivors and approximately 210,000 people have registered for Individual Assistance. Over 6,200 people have been helped through FEMA’s Transitional Sheltering Assistance. More than 5,400 registrations for Small Business Administration Loans have been filed.

    Approximately 1,500 FEMA staff are in the state to help with the Western North Carolina relief effort. In addition to search and rescue and providing commodities, they are meeting with disaster survivors in shelters and neighborhoods to provide rapid access to relief resources. They can be identified by their FEMA logo apparel and federal government identification.

    North Carolinians can apply for Individual Assistance by calling 1-800-621-3362 from 7am to 11pm daily or by visiting www.disasterassistance.gov, or by downloading the FEMA app. FEMA may be able to help with serious needs, displacement, temporary lodging, basic home repair costs, personal property loss or other disaster-caused needs.

    Help from Other States

    More than 1,600 responders from 39 state and local agencies have performed 147 missions supporting the response and recovery efforts through the Emergency Management Assistance Compact (EMAC). This includes public health nurses, emergency management teams supporting local governments, veterinarians, teams with search dogs and more.

    Beware of Misinformation

    North Carolina Emergency Management and local officials are cautioning the public about false Helene reports and misinformation being shared on social media. NCEM has launched a fact versus rumor response webpage to provide factual information in the wake of this storm. FEMA also has a rumor response webpage.

    Efforts continue to provide food, water and basic necessities to residents in affected communities, using both ground resources and air drops from the NC National Guard. Food, water and commodity points of distribution are open throughout Western North Carolina. For information on these sites in your community, visit your local emergency management and local government social media and websites or visit ncdps.gov/Helene.

    Storm Damage Cleanup

    If your home has damages and you need assistance with clean up, please call Crisis Cleanup for access to volunteer organizations that can assist you at 844-965-1386.

    Power Outages

    Across Western North Carolina, approximately 5,200 customers remain without power, down from a peak of more than 1 million. Overall power outage numbers will fluctuate up and down as power crews temporarily take circuits or substations offline to make repairs and restore additional customers.

    Road Closures

    Some roads are closed because they are too damaged and dangerous to travel. Other roads still need to be reserved for essential traffic like utility vehicles, construction equipment and supply trucks. However, some parts of the area are open and ready to welcome visitors which is critical for the revival of Western North Carolina’s economy. If you are considering a visit to the area, consult DriveNC.gov for open roads and reach out to the community and businesses you want to visit to see if they are welcoming visitors back yet.

    NCDOT currently has over 2,000 employees and 900 pieces of equipment working on over 7,400 damaged road sites.

    Fatalities

    Ninety-six storm-related deaths have been confirmed in North Carolina by the Office of Chief Medical Examiner. This number is expected to rise over the coming days. The North Carolina Office of the Chief Medical Examiner will continue to confirm numbers twice daily. If you have an emergency or believe that someone is in danger, please call 911.

    Volunteers and Donations

    If you would like to donate to the North Carolina Disaster Relief Fund, visit nc.gov/donate. Donations will help to support local nonprofits working on the ground.

    For information on volunteer opportunities, please visit nc.gov/volunteernc.

    Additional Assistance

    There is no right or wrong way to feel in response to the trauma of a hurricane. If you have been impacted by the storm and need someone to talk to, call or text the Disaster Distress Helpline at 1-800-985-5990. Help is also available to anyone, anytime in English or Spanish through a call, text or chat to 988. Learn more at 988Lifeline.org.

    If you are seeking a representative from the North Carolina Joint Information Center, please email ncempio@ncdps.gov or call 919-825-2599.

    For general information, access to resources, or answers to frequently asked questions, please visit ncdps.gov/helene.

    If you are seeking information on resources for recovery help for a resident impacted from the storm, please email IArecovery@ncdps.gov.

    ###

    Oct 22, 2024

    MIL OSI USA News –

  • MIL-OSI: SECU Members Benefit from Suncoast Credit Union Mobile ATM During Storm Recovery

    Source: GlobeNewswire (MIL-OSI)

    RALEIGH, N.C., Oct. 22, 2024 (GLOBE NEWSWIRE) — Florida-based Suncoast Credit Union generously provided State Employees’ Credit Union (SECU) with a mobile ATM to help support the financial needs of its members and area residents affected by Hurricane Helene in Western North Carolina (WNC). The mobile ATM offers 24-hour availability and is currently located at SECU’s Asheville-Oak Plaza Branch, which is without a functioning ATM and is operating on a modified schedule until water and other resources are fully restored.

    While most of its area branches and ATMs are operating in some capacity, SECU encourages members to check the online Branch and ATM Locator to determine if their closest location is open or operating on a modified schedule due to ongoing storm recovery.

    “We are very grateful to Suncoast Credit Union for their generosity and swift action in helping us deliver much-needed ATM access to support our members and others in the community who desperately need cash during this difficult time,” said SECU President and CEO Leigh Brady. “Western North Carolina has a long and challenging road ahead, and we will continue to find ways to help our neighbors recover from Helene’s destruction. We also recognize that as our Florida friends are extending helping hands to us, they are also recovering from storm damage, most recently from Hurricane Milton. We are keeping them close to our hearts and are ready to support them as well.”

    “Our goal is to be where we are needed because that is the credit union way,” said Suncoast Credit Union President and CEO Kevin Johnson. “People helping people is part of the Suncoast Credit Union DNA, so our traveling to North Carolina is an act of heartfelt readiness to serve those whose lives have, like many Floridians, been devastated by the fate of nature. Working together, we can create change and expedite restoration.”

    About SECU

    A not-for-profit financial cooperative owned by its members, and federally insured by the National Credit Union Administration (NCUA), SECU has been providing employees of the state of North Carolina and their families with consumer financial services for 87 years. SECU is the second largest credit union in the United States with $56 billion in assets. It serves more than 2.8 million members through 275 branch offices, over 1,100 ATMs, Member Services Support via phone, http://www.ncsecu.org, and the SECU Mobile App.

    About Suncoast Credit Union

    Suncoast Credit Union is the largest credit union in the state of Florida, the 8th largest in the United States based on membership, and the 10th largest in the United States based on its $18.7 billion in assets. Chartered in 1934 as Hillsborough County Teachers Credit Union, Suncoast Credit Union currently operates 78 full-service branches and serves more than 1.2 million members across Florida. As a community credit union, anyone who lives, works, attends school, or worships in Suncoast Credit Union’s service area is eligible for membership. In 2021, Suncoast Credit Union’s field of membership was expanded to include public K-12 teachers, college educators, and educational support staff from all of Florida’s 67 counties. Suncoast is passionate about community support. Since its founding in 1990, the Suncoast Credit Union Foundation has raised and donated more than $45 million to organizations and initiatives that support the health, education, and emotional well-being of children in the communities that the credit union serves. For more information, visit http://www.suncoast.com or follow us on social media: Facebook, LinkedIn, Twitter, and Instagram.

    SECU Contact:  Sandra Jones, SVP – Communications
    Office:  (919) 508-8773 | sandra.jones@ncsecu.org

    Suncoast Contact:  Patti Barrow, Vice President of Media Relations
    Office:  (813) 280-4441 | patti.barrow@suncoastcreditunion.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/be2b89b6-5cac-422a-9af2-a3a3209ec1de

    The MIL Network –

  • MIL-OSI USA: Scanlon, Casey, Fetterman, Boyle, Evans, Parker Announce $27.5 Million for Philadelphia International Airport

    Source: United States House of Representatives – Congresswoman Mary Gay Scanlon(PA-5)

    Washington, D.C. – Congresswoman Mary Gay Scanlon (PA-05) today joined Senators Bob Casey (D-PA) and John Fetterman (D-PA), Representatives Dwight Evans (PA-03) and Brendan Boyle (PA-02), and Philadelphia Mayor Cherelle L. Parker in announcing that Philadelphia International Airport is receiving $27,500,000 in new federal infrastructure funding from the U.S. Department of Transportation (DOT). This funding comes from the Airport Terminal Program (ATP), which was created by the bipartisan Infrastructure Investment and Jobs Act (IIJA) to revitalize the nation’s aging airports. 

    “I’m proud to see PHL earning the competitive grants we authorized in the Bipartisan Infrastructure Law, bringing good jobs to our region as PHL upgrades its terminals.” said Rep. Scanlon. “Modernizing our region’s airport infrastructure will improve air travel for passengers and position our local economy for success in an increasingly competitive global economy.”

    “Philadelphia International Airport serves as a vital transportation and economic gateway to the rest of the Commonwealth and the world,” said Senator Casey. “This investment from the infrastructure law will help modernize the airport by upgrading HVAC and electrical systems in Terminals D and E. I will always fight for investments that boost Southeastern Pennsylvania’s economy and keep the region moving.”

    “It’s investments like this that help keep Philadelphia a world-class city with world-class infrastructure. This $27.5 million for terminal energy upgrades guarantees that the commonwealth’s largest airport stays efficient, resilient, and ready for the future. That’s how we keep Philly competitive and connected,” said Senator Fetterman.

    “I’m pleased to see another $27.5 million in federal funding that I voted for coming to Philadelphia! The airport has also received other federal funding for improvements through the Biden-Harris administration’s Infrastructure Investment and Jobs Act, and this will all benefit people traveling from and to our area, along with our local economy,” said Congressman Evans.

    “It is tremendous news that our Philadelphia International Airport will be receiving $27.5 million from the Federal Aviation Administration to help with important HVAC and energy efficiency projects,” said Philadelphia Mayor Cherelle L. Parker. “Every single federal grant or funding allocation coming into Philadelphia is because of the hard work of all our federal partners, including Senator Casey and every member of our delegation, along with the support of the Biden-Harris administration.  It’s another step forward for Philadelphia, and we are profoundly grateful.”

    The funding for Philadelphia International Airport will support improvements to the existing upper levels of portions of Terminals D & E that have reached the end of their useful lives,  including HVAC and electrical efficiency upgrades and improvements. PHL has received a total of $374,545,577 in federal investments since the start of 2021. 

    ###

    MIL OSI USA News –

  • MIL-OSI New Zealand: ACT welcomes commonsense change in work rights for migrant families

    Source: ACT Party

    ACT’s Immigration spokesperson Dr Parmjeet Parmar is welcoming today’s announcement that the Government intends to restore open work rights to the partners of skilled migrants, delivering on an ACT coalition commitment.

    “Migrants are vital to address skill shortages in New Zealand,” says Dr Parmar.

    “It never made sense to allow the partners of visa holders to be in New Zealand, consume services, and yet be banned from working and paying taxes.

    “Today’s change is common sense, effectively lifting a ban contributing to New Zealand – something most migrants would be more than happy to do.

    “We saw what happened when our borders were sealed shut. Businesses went to the wall, fruit was left to rot on the ground, the health system struggled to keep up with demand, and families were separated.

    “But many were at risk of leaving due to unworkable rules requiring the partners of Accredited Employer Work Visa holders to also work for accredited employers and be paid the median wage. Making New Zealand a much less attractive place for migrants to live and work.

    “This concern has been raised with me by businesses who are at risk of losing valuable staff. The uncertainty and distress this has caused for migrants and their families has been immense. I am relieved this issue is finally being resolved.

    “ACT’s coalition agreement included a commitment to ‘liberalise the rules to make it easier for family members of visa holders to work in New Zealand, beginning with Skilled Migrant Category visa holders’.

    “We are encouraged by this progress and are eager to see further improvements to our immigration settings to fulfil ACT’s coalition commitments and make our country the preferred destination for ideas, talent and investment.

    “In particular, we look forward to introducing a five year, renewable parent category visa, conditional on that person’s healthcare costs being covered. This will help attract and retain migrants to ensure New Zealand has a competitive edge in the global war for talent. Doing right by migrants does not have to come at the cost of New Zealand’s own standard of living.

    “Labour wrecked the economy and made a complete hash of immigration. ACT is determined to ensure that immigration policy is simple to navigate and welcoming so that migrants can reunite with their families, the economy can grow and more locals can be employed through job creation and investment.”

    MIL OSI New Zealand News –

  • MIL-OSI USA: Representatives Auchincloss, Doggett Lead Bipartisan Letter Calling on Biden Administration to Strengthen Russian Oil Sanctions and Question Exception Approval

    Source: United States House of Representatives – Representative Jake Auchincloss (Massachusetts, 4)

    October 21, 2024

    Washington, D.C.— U.S. Representatives Jake Auchincloss (D-MA-04) and Lloyd Doggett (D-TX-37) led a bipartisan effort calling on the Biden Administration to pursue more vigorous Russian oil sanctions and questioning an exception granted to a U.S.-based company, Schlumberger (SLB), operating in Russia. Since Vladimir Putin’s illegal invasion of Ukraine in 2022, SLB has exported nearly $18 billion of equipment to Russia. The bipartisan group of lawmakers is questioning U.S. Secretary of the Treasury Janet Yellen and U.S. Secretary of State Antony Blinken as to why the Biden Administration has permitted SLB to aid Russia’s oil exports and fund Putin’s war economy.

    In the letter the members stated, “It is alarming that SLB, an American company, is still free to help Russia produce and export its oil to fund the war chest of an authoritarian regime. Its investment in the Russian energy sector is so harmful that Ukraine’s National Agency on Corruption Prevention justifiably added SLB to an “international sponsor of war” blacklist. We and our G7 allies can hold SLB accountable for its complicity in Russian war crimes while still preserving stability in the global oil market. We look forward to your prompt answers to our specific questions, as well as the requested documents. We strongly urge further action to effectively restrict Putin’s profits and aid in Ukraine’s defense.”

    “While Ukrainians fight and die on the front lines of freedom, a U.S. oil company is supporting the enemy,” said Rep. Auchincloss. “Oil is the lifeblood of the Russian war economy, which is why the West must stand united in tightening and enforcing oil sanctions. That begins by holding SLB and its collaborators accountable for evading allied sanctions, profiteering from pain, and fueling Putin’s ability to wage war.” 

    “My name is on the first sanctions legislation to become law shortly after the Russian invasion,” said Rep. Doggett. “Implementation of that and similar legislation by our allies has not prevented Putin from earning billions from oil exports. And unfortunately, North Korea and Iran are not the only places providing him help. By permitting his exports and permitting continued American company investments in Russia, Americans, and our European allies, are essentially funding both sides of this war. While well aware of concerns about the price of gasoline at the pump, we must stop oiling the Putin war machine to win this war, secure a just peace, and reparations.”

    Additional signers include Representatives Sheila Cherfilus-McCormick (D-FL-20), Marcy Kaptur (D-OH-9), Josh Gottheimer (D-NJ-05), Barbara Lee (D-CA-12), Wiley Nickel (D-NC-13), Jared Huffman (D-CA-02), Dan Goldman (D-NY-10), Danny K. Davis (D-IL-07), Jim Costa (D-CA-21), Sean Casten (D-IL-06), Steve Cohen (D-TN-09), Adam B. Schiff (D-CA-30), Susan Wild (D-PA-07), Joe Wilson (R-SC-02), Henry C. “Hank” Johnson, Jr. (D-GA-04), Thomas R. Suozzi (D-NY-03), Brad Sherman (D-CA-32), Zoe Lofgren (D-CA-18), Nikema Williams (D-GA-05),Gerald E. Connolly (D-VA-11), Mark Pocan (D-WI-02),  Madeleine Dean (D-PA-04), Jamie Raskin (D-MD-08), Earl Blumenauer (D-OR-03), Seth Magaziner (D-RI-02), Chris Deluzio (D-PA-17), Patrick Ryan (D-NY-18), Christopher H. Smith (R-NJ-04), Bonnie Watson Coleman (D-NJ-12), Salud Carbajal (D-CA-24), Raúl M. Grijalva (D-AZ-07), Don Bacon (R-NE-02), Juan Vargas (D-CA-52), Jerrold Nadler (D-NY-12), Ann McLane Kuster (D-NH-02), Emanuel Cleaver II (D-MO-05), Frank Pallone Jr. (D-NJ-06), Paul D. Tonko (D-NY-20), Adriano Espaillat (D-NY-13), Ted W. Lieu (D-CA-36), John B. Larson (D-CT-01), Mike Quigley (D-IL-05), Jill Tokuda (D-HI-01), Kweisi Mfume (D-MD-07), David J. Trone (D-MD-06), Seth Moulton (D-MA-06), Brian Fitzpatrick (R-PA-01), Stephen F. Lynch (D-MA-08), Bennie G. Thompson (D-MS-02) and Ro Khanna (D-CA-17).

    The letter in full can be found here.

    MIL OSI USA News –

  • MIL-OSI USA: California Mobile Phlebotomy Lab and Its Owners to Pay $135,000 to Resolve Allegedly False Claims for Blood Testing Services and Travel Mileage

    Source: US State Government of Utah

    Veni-Express Inc. (Veni-Express), headquartered in California, and its owners Myrna and Sonny Steinbaum have agreed to pay at least $135,000 to resolve False Claims Act allegations that they submitted false claims for mobile phlebotomy services and associated travel mileage and paid kickbacks to a third-party marketer of these services, in violation of the Anti-Kickback Statute (AKS). Veni-Express has agreed to pay $100,000, plus additional amounts based on the sale of company property. Myrna Steinbaum has agreed to pay $25,000, and Sonny Steinbaum has agreed to pay $10,000. These settlements are based on their ability to pay.

    The United States alleged that from 2015 to 2019, Veni-Express and the Steinbaums knowingly caused false or fraudulent claims to federal health care programs for mobile phlebotomy services and associated travel mileage. Specifically, with the Steinbaum’s oversight and approval, Veni-Express submitted false claims for venipuncture (blood draw) procedures that the company did not actually perform during homebound patient visits, and for travel mileage associated with these visits that was not reimbursable by Medicare. The United States further alleged that, from July 2014 to June 2015, Veni-Express paid unlawful kickbacks (in the form of a percentage of company revenue) to a third-party, Altera Laboratories also known as Med2U Healthcare LLC, for the marketing of Veni-Express’ services, in violation of the AKS.

    “Health care providers that bill for services they did not provide or offer illegal incentives to increase profits will be held accountable,” said Principal Deputy Assistant Attorney General Brian M. Boynton, head of the Justice Department’s Civil Division. “We will continue to safeguard federal health care programs against those who seek to abuse them.”

    “Providers must not bill for services they did not perform. Further, the presence of unlawful kickbacks all too often corrupts medical judgment,” said U.S. Attorney Phillip A. Talbert for the Eastern District of California. “Our office is committed to investigating and holding accountable those who violate the False Claims Act and AKS to safeguard the public fisc and protect the integrity of our federal health care system.”

    “Improper incentives and billing Medicare for services never actually provided divert taxpayer funding meant to pay for medically necessary services for Medicare enrollees,” said Special Agent in Charge Steven J. Ryan of the Department of Health and Human Services Office of the Inspector General (HHS-OIG). “HHS-OIG and our law enforcement partners remain committed to identifying and holding accountable those who engage in such unlawful relationships.”

    The civil settlement resolves claims brought under the qui tam or whistleblower provisions of the False Claims Act by Banisha Evans, a former phlebotomist for another California provider, and Richard Drummond, a technical director at a Texas laboratory. Under those provisions, a private party can file an action on behalf of the United States for false claims and receive a portion of any recovery. The qui tam cases are captioned U.S. et al., ex rel. Evans v. PhlebXpress et al., No. 2:18-cv-2038 (EDCA) and U.S. ex rel. Drummond v. Veni-Express Inc., et al., No. 2:21-cv-1199 (EDCA).

    The relators’ share of the settlement has not yet been determined.

    The resolution obtained in this matter was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, Fraud Section, the U.S. Attorney’s Office for the Eastern District of California and HHS-OIG.

    The investigation and resolution of this matter illustrates the government’s emphasis on combating health care fraud. One of the most powerful tools in this effort is the False Claims Act. Tips and complaints from all sources about potential fraud, waste, abuse and mismanagement can be reported to HHS at 800-HHS-TIPS (800-447-8477).

    Trial Attorney Gary R. Dyal of the Civil Division’s Commercial Litigation Branch, Fraud Section, and Assistant U.S. Attorney Colleen Kennedy for the Eastern District of California handled the matter.

    The claims resolved by the settlement are allegations only. There has been no determination of liability.

    Settlement

    MIL OSI USA News –

  • MIL-OSI: Altai Mourns the Passing of Chairman and President Niyazi Kacira, and Announces Election of the Board of Directors, Appointment of New Chairman and President, and Stock Option Grants

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 22, 2024 (GLOBE NEWSWIRE) — Altai Resources Inc. (ATI, TSX VENTURE; US SEC Rule 12g3-2(b) File # 82-2950) (“Altai” or the “Company”) announces with great sadness the passing of its Chairman and President, Dr. Niyazi Kacira following a short illness. We extend our deepest sympathies to his family.

    The Board and the Altai family will greatly miss his extraordinary passion and devotion to the Company, thoughtful leadership and ability to connect with people. He was a person of great integrity and unparalleled reputation.

    Dr. Kacira took over the helm of the dormant Black Cliff Mines Ltd. (later changed the name to Altai Resources Inc) in 1987, revived it and listed it on the Toronto Stock Exchange. Since 1987, he served as President (except for a short period of time) and Chairman until his passing. He has made an invaluable and immeasurable contribution in nurturing, building and growing Altai with his tremendous geological expertise and foresight and always with the best interest of the Company in mind and in action, and has set the highest standard of integrity for the Company.

    At its annual general meeting of the shareholders held on October 21, 2024 (the “Meeting”) in Toronto, Jeffrey S. Ackert, Maria Au and Eric Yao as described in the Management Information Circular of the Meeting, were elected as Directors of the Company. Due to his passing, Dr. Kacira was not nominated as director in the Meeting. In the Meeting, Kursat Kacira, who has advised that he is willing and able to serve as a Director of Altai if elected, was nominated as permitted in accordance with the Company’s Advance Notice By-laws and was duly elected as a Director of the Company.

    Mr. Kursat Kacira, a resident of Ontario, Canada, is an accomplished finance and investment executive with over 25 years of global experience in investment management, real estate, corporate finance, capital markets, investment banking, and public accounting. He is a Chartered Professional Accountant (Ontario), has a Master of Business Administration (Dean’s Scholarship) from the Stern School of Business at New York University, and a Bachelor of Mathematics (Honours) from the University of Waterloo.

    He is currently the President of Kacira Holdings Ltd., a private family office investment company. Previously, he served as Managing Director, Head of Global Capital Markets in the Private Markets group at Manulife Investment Management, the Global Wealth & Asset Management division of Manulife Financial Corporation. Prior to joining Manulife, he was the CEO and a director of Firm Capital American Realty Partners Corp., a publicly traded real estate company focused on investing in multi-family residential real estate in the United States. He has also previously been the CEO (and Board Trustee) of Maplewood International REIT (a publicly traded REIT focused on investing in commercial real estate in Europe); CFO of NorthWest International Healthcare Properties REIT (a publicly traded REIT focused on investing in healthcare real estate in Europe, South America, and Australasia); CFO of Whiterock REIT, a publicly traded REIT focused on investing in commercial real estate in Canada and the United States, where he was responsible for the ultimate sale of Whiterock to publicly traded Dundee REIT in 2012, for an enterprise value of $1.4 billion (at the time, the 3rd largest Canadian commercial real estate M&A transaction since 2006). Prior to the above, he had been Vice President & Director in the Real Estate Group, Investment Banking at TD Securities Inc. in Toronto, Ontario, in investment banking with Bear, Stearns & Co. Inc. in New York, US and in public accounting in Canada and Europe (Price Waterhouse in Toronto and Paris). Through his investment banking career in Canada and the United States, he was responsible for completing over $10 billion of capital raising (equity and debt) and M&A transactions for companies across numerous industries, primarily in the real estate sector.

    Mr. Harold Tan, a director of the Company since 2023, did not stand for renomination as a director in this Meeting, for personal reasons. Altai sincerely thanks him for his contributions to the Company during his directorship and wishes him well in all his future ventures.

    In the Meeting, CAN Partners LLP, Chartered Professional Accountants were appointed as Auditors of the Company.

    On October 21, 2024 and after the Meeting, the Board appointed Kursat Kacira as the Chairman and President of the Company.

    On October 21, 2024, the Company granted to each of the two new directors and a new officer, a stock option of 200,000 shares to purchase common shares of the Company at an exercise price of $0.10 per share and expiring October 19, 2029.

    ABOUT ALTAI
    Altai Resources Inc. is a resource company with a producing oil property in Alberta and an exploration gold property in Quebec.

    For further information, please contact
    Maria Au, Secretary-Treasurer
    Tel: (416) 383-1328 Fax: (416) 383-1686
    Email: info@altairesources.com Internet: http://www.altairesources.com

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    The MIL Network –