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Category: Business

  • MIL-OSI USA: Justice Department Declines Prosecution of Private Equity Firm Following Voluntary Disclosure of Sanctions Violations and Related Offenses Committed by Acquired Company

    Source: US State of California

    Department Credits Firm’s Swift Disclosure and Cooperation in Stopping Violations and Securing Former CEO’s Conviction

    Note: View a copy of the White Deer declination letter, Unicat non-prosecution agreement, and Mani Erfan’s plea agreement.

    The Justice Department’s National Security Division (NSD) and the U.S. Attorney’s Office for the Southern District of Texas (SDTX) today announced that they declined the prosecution of private equity firm White Deer Management LLC (White Deer) and its affiliates after the firm discovered and voluntarily self-disclosed criminal violations of U.S. sanctions and export laws committed by a company it acquired, Texas-based Unicat Catalyst Technologies LLC (Unicat).

    NSD and SDTX also announced that the Justice Department entered into a non-prosecution agreement (NPA) with Unicat, and that, on Aug. 19, 2024, the former chief executive officer (CEO) and co-founder of Unicat, Mani Erfan, pleaded guilty to conspiring to violate U.S. sanctions against Iran and other countries and foreign governments, as well as concealment and international promotional money laundering. As part of his plea, Erfan also agreed to pay a money judgment in the amount of $1,600,000.

    “After acquiring a company with a hidden history of sanctions violations, this private equity firm uncovered the misconduct, stopped it, and quickly reported it to the government, leading to the successful prosecution of a senior executive,” said Assistant Attorney General for National Security John A. Eisenberg. “Our decision to decline prosecution of the acquiror and extend a non-prosecution agreement to the acquired entity in this case reflects the National Security Division’s strong commitment to rewarding responsible corporate leadership.”

    “Illegally exporting sensitive items to Venezuela and Iran to help them evade sanctions directly undermines U.S. foreign policy and threatens our national security,” said Special Agent in Charge Chad Plantz of Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) Houston. “HSI will not sit by idly while businesses or individuals operating in the U.S. blatantly help our nation’s adversaries procure sensitive technologies or weapons and today’s announcement of a $3 million fine and the imposition of criminal charges is just another example of that enduring commitment.”

    As detailed in court documents and in the Department’s agreements with White Deer and Unicat, from approximately 2014 through 2021, Mani Erfan, Unicat’s former CEO, conspired with others, including at least one other Unicat employee, to cause Unicat to submit bids and make sales to customers in Iran, Venezuela, Syria, and Cuba in violation of U.S. economic sanctions. In total, Erfan caused Unicat to make a total of 23 unlawful sales of chemical catalysts used in oil refining and steel production to customers in Iran, Venezuela, and Cuba. Some of the sales were effected through exports of catalysts from the United States and further violated U.S. export control laws.

    To further the conspiracy, the conspirators made false statements in export documents and financial records about the true identities and locations of Unicat’s customers and falsely assured some Unicat employees that the company’s business with customers subject to U.S. economic sanctions was lawful. Unicat obtained approximately $3.33 million in revenue from its unlawful sales.

    Erfan and Unicat employees additionally falsified invoices to reduce the tariffs assessed on catalysts that Unicat imported from China. By undervaluing these imports, Unicat caused a loss of revenue of approximately $1.66 million in duties, taxes, and fees. Further, during negotiations to sell Unicat to White Deer, Unicat’s prior owners provided representations and warranties to White Deer attesting to Unicat’s compliance with U.S. sanctions and export control laws.

    The scheme came to light in June 2021, in the midst of the COVID-19 pandemic, after White Deer acquired Unicat and a second company based in the United Kingdom, and Unicat’s new CEO was able to travel to the United States to visit Unicat and begin to integrate the operations of the company. During his visit, the new CEO learned that Unicat had a pending transaction with an Iranian customer and immediately ordered the deal’s cancellation. Over the next month, White Deer and Unicat’s new CEO retained counsel to investigate, and learned that Unicat had engaged in a series of transactions with counterparties subject to different U.S. sanctions programs. Before the investigation was complete, but after determining that Unicat employees had engaged in potentially criminal violations of U.S. sanctions laws, White Deer and Unicat’s new management submitted a voluntary self-disclosure to NSD.

    Pursuant to the NPA, Unicat agreed to pay forfeiture totaling $3,325,052.10, representing the proceeds of its violations of U.S. sanctions and export control laws. In parallel resolutions coordinated between the Justice Department, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the Commerce Department’s Bureau of Industry and Security (BIS) Office of Export Enforcement (OEE), Unicat agreed to pay $3,882,797 to OFAC for its apparent violations of U.S. sanctions laws, and agreed with OEE to pay a penalty of $391,183 for its violation of U.S. export control laws. OFAC agreed to credit Unicat’s payment of forfeiture pursuant to the NPA against the OFAC penalty, and OEE has agreed to credit Unicat’s payment to OFAC against the OEE penalty. In a separate administrative resolution with U.S. Customs and Border Protection, Unicat agreed to pay $1,655,189.57, in underpaid duties, taxes, and fees.

    NSD and SDTX declined White Deer’s prosecution and entered into the NPA with Unicat after considering the factors set forth in the Department’s Principles of Federal Prosecution of Business Organizations, the National Security Division Enforcement Policy for Business Organizations (NSD Enforcement Policy), and pursuant to the provisions of the NSD Enforcement Policy that apply to Voluntary Self-Disclosures in Connection with Acquisitions (the NSD M&A Policy).

    The NSD M&A Policy provides that when a company (1) completes a lawful bona fide acquisition of another entity, (2) voluntarily and timely self-discloses to NSD potentially criminal violations of laws affecting U.S. national security committed by the acquired entity, (3) fully cooperates with NSD’s investigation, and (4) timely and appropriately remediates the misconduct, NSD generally will not seek a guilty plea from the acquiror, and there is a presumption that NSD will decline to prosecute the acquiror. The NSD M&A Policy further provides that while a presumption of declination is not available to the acquired entity, NSD will credit the acquiror’s timely voluntary self-disclosure to the acquired entity and will consider whether the acquired entity otherwise satisfies the NSD Enforcement Policy’s requirements to obtain the benefits of the Policy.

    NSD and SDTX determined that White Deer’s acquisition of Unicat was a lawful bona fide acquisition, and that White Deer’s self-disclosure was timely under all of the relevant circumstances, including the COVID-19 pandemic and in the context of White Deer’s acquisition of Unicat and efforts to integrate the company’s operations into another acquired entity. White Deer and Unicat fully cooperated with the government’s subsequent investigation by proactively identifying, collecting, and disclosing relevant evidence to investigators, including foreign language evidence and evidence located overseas, and providing detailed and timely responses to the government’s requests for information and evidence. White Deer’s and Unicat’s cooperation materially assisted the government’s investigation, leading to the successful prosecution of Unicat’s former CEO. Unicat remediated the root cause of the misconduct in less than one year from the date of its discovery by terminating culpable employees, disciplining other employees involved in the misconduct, seeking reimbursement from Unicat’s sellers, and designing and implementing a comprehensive and robust internal controls and compliance program that has proven effective in practice at identifying and preventing similar potential misconduct.

    This resolution marks the first time since the creation of the Justice Department’s Mergers and Acquisitions Policy in March 2024 that the Department has declined the prosecution of an acquiror for self-disclosing criminal conduct discovered at an acquired entity.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorney S. Mark McIntyre for the Southern District of Texas prosecuted the case.

    ICE-HSI, the Defense Criminal Investigative Service, and BIS investigated the case.

    MIL OSI USA News –

  • MIL-OSI USA: Justice Department Declines Prosecution of Private Equity Firm Following Voluntary Disclosure of Sanctions Violations and Related Offenses Committed by Acquired Company

    Source: US State of California

    Department Credits Firm’s Swift Disclosure and Cooperation in Stopping Violations and Securing Former CEO’s Conviction

    Note: View a copy of the White Deer declination letter, Unicat non-prosecution agreement, and Mani Erfan’s plea agreement.

    The Justice Department’s National Security Division (NSD) and the U.S. Attorney’s Office for the Southern District of Texas (SDTX) today announced that they declined the prosecution of private equity firm White Deer Management LLC (White Deer) and its affiliates after the firm discovered and voluntarily self-disclosed criminal violations of U.S. sanctions and export laws committed by a company it acquired, Texas-based Unicat Catalyst Technologies LLC (Unicat).

    NSD and SDTX also announced that the Justice Department entered into a non-prosecution agreement (NPA) with Unicat, and that, on Aug. 19, 2024, the former chief executive officer (CEO) and co-founder of Unicat, Mani Erfan, pleaded guilty to conspiring to violate U.S. sanctions against Iran and other countries and foreign governments, as well as concealment and international promotional money laundering. As part of his plea, Erfan also agreed to pay a money judgment in the amount of $1,600,000.

    “After acquiring a company with a hidden history of sanctions violations, this private equity firm uncovered the misconduct, stopped it, and quickly reported it to the government, leading to the successful prosecution of a senior executive,” said Assistant Attorney General for National Security John A. Eisenberg. “Our decision to decline prosecution of the acquiror and extend a non-prosecution agreement to the acquired entity in this case reflects the National Security Division’s strong commitment to rewarding responsible corporate leadership.”

    “Illegally exporting sensitive items to Venezuela and Iran to help them evade sanctions directly undermines U.S. foreign policy and threatens our national security,” said Special Agent in Charge Chad Plantz of Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) Houston. “HSI will not sit by idly while businesses or individuals operating in the U.S. blatantly help our nation’s adversaries procure sensitive technologies or weapons and today’s announcement of a $3 million fine and the imposition of criminal charges is just another example of that enduring commitment.”

    As detailed in court documents and in the Department’s agreements with White Deer and Unicat, from approximately 2014 through 2021, Mani Erfan, Unicat’s former CEO, conspired with others, including at least one other Unicat employee, to cause Unicat to submit bids and make sales to customers in Iran, Venezuela, Syria, and Cuba in violation of U.S. economic sanctions. In total, Erfan caused Unicat to make a total of 23 unlawful sales of chemical catalysts used in oil refining and steel production to customers in Iran, Venezuela, and Cuba. Some of the sales were effected through exports of catalysts from the United States and further violated U.S. export control laws.

    To further the conspiracy, the conspirators made false statements in export documents and financial records about the true identities and locations of Unicat’s customers and falsely assured some Unicat employees that the company’s business with customers subject to U.S. economic sanctions was lawful. Unicat obtained approximately $3.33 million in revenue from its unlawful sales.

    Erfan and Unicat employees additionally falsified invoices to reduce the tariffs assessed on catalysts that Unicat imported from China. By undervaluing these imports, Unicat caused a loss of revenue of approximately $1.66 million in duties, taxes, and fees. Further, during negotiations to sell Unicat to White Deer, Unicat’s prior owners provided representations and warranties to White Deer attesting to Unicat’s compliance with U.S. sanctions and export control laws.

    The scheme came to light in June 2021, in the midst of the COVID-19 pandemic, after White Deer acquired Unicat and a second company based in the United Kingdom, and Unicat’s new CEO was able to travel to the United States to visit Unicat and begin to integrate the operations of the company. During his visit, the new CEO learned that Unicat had a pending transaction with an Iranian customer and immediately ordered the deal’s cancellation. Over the next month, White Deer and Unicat’s new CEO retained counsel to investigate, and learned that Unicat had engaged in a series of transactions with counterparties subject to different U.S. sanctions programs. Before the investigation was complete, but after determining that Unicat employees had engaged in potentially criminal violations of U.S. sanctions laws, White Deer and Unicat’s new management submitted a voluntary self-disclosure to NSD.

    Pursuant to the NPA, Unicat agreed to pay forfeiture totaling $3,325,052.10, representing the proceeds of its violations of U.S. sanctions and export control laws. In parallel resolutions coordinated between the Justice Department, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the Commerce Department’s Bureau of Industry and Security (BIS) Office of Export Enforcement (OEE), Unicat agreed to pay $3,882,797 to OFAC for its apparent violations of U.S. sanctions laws, and agreed with OEE to pay a penalty of $391,183 for its violation of U.S. export control laws. OFAC agreed to credit Unicat’s payment of forfeiture pursuant to the NPA against the OFAC penalty, and OEE has agreed to credit Unicat’s payment to OFAC against the OEE penalty. In a separate administrative resolution with U.S. Customs and Border Protection, Unicat agreed to pay $1,655,189.57, in underpaid duties, taxes, and fees.

    NSD and SDTX declined White Deer’s prosecution and entered into the NPA with Unicat after considering the factors set forth in the Department’s Principles of Federal Prosecution of Business Organizations, the National Security Division Enforcement Policy for Business Organizations (NSD Enforcement Policy), and pursuant to the provisions of the NSD Enforcement Policy that apply to Voluntary Self-Disclosures in Connection with Acquisitions (the NSD M&A Policy).

    The NSD M&A Policy provides that when a company (1) completes a lawful bona fide acquisition of another entity, (2) voluntarily and timely self-discloses to NSD potentially criminal violations of laws affecting U.S. national security committed by the acquired entity, (3) fully cooperates with NSD’s investigation, and (4) timely and appropriately remediates the misconduct, NSD generally will not seek a guilty plea from the acquiror, and there is a presumption that NSD will decline to prosecute the acquiror. The NSD M&A Policy further provides that while a presumption of declination is not available to the acquired entity, NSD will credit the acquiror’s timely voluntary self-disclosure to the acquired entity and will consider whether the acquired entity otherwise satisfies the NSD Enforcement Policy’s requirements to obtain the benefits of the Policy.

    NSD and SDTX determined that White Deer’s acquisition of Unicat was a lawful bona fide acquisition, and that White Deer’s self-disclosure was timely under all of the relevant circumstances, including the COVID-19 pandemic and in the context of White Deer’s acquisition of Unicat and efforts to integrate the company’s operations into another acquired entity. White Deer and Unicat fully cooperated with the government’s subsequent investigation by proactively identifying, collecting, and disclosing relevant evidence to investigators, including foreign language evidence and evidence located overseas, and providing detailed and timely responses to the government’s requests for information and evidence. White Deer’s and Unicat’s cooperation materially assisted the government’s investigation, leading to the successful prosecution of Unicat’s former CEO. Unicat remediated the root cause of the misconduct in less than one year from the date of its discovery by terminating culpable employees, disciplining other employees involved in the misconduct, seeking reimbursement from Unicat’s sellers, and designing and implementing a comprehensive and robust internal controls and compliance program that has proven effective in practice at identifying and preventing similar potential misconduct.

    This resolution marks the first time since the creation of the Justice Department’s Mergers and Acquisitions Policy in March 2024 that the Department has declined the prosecution of an acquiror for self-disclosing criminal conduct discovered at an acquired entity.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorney S. Mark McIntyre for the Southern District of Texas prosecuted the case.

    ICE-HSI, the Defense Criminal Investigative Service, and BIS investigated the case.

    MIL OSI USA News –

  • MIL-OSI USA: Venezuelan National and U.S. Citizen Arrested for Sanctions Evasion and Smuggling in Scheme to Supply Venezuela’s State-Owned Steel Industry

    Source: US State of California

    Defendants Allegedly Moved Millions Through Global Front Companies and Illegally Supplied Industrial Goods to Sanctioned Venezuelan Entities

    Note: View the criminal complaint.

    Juan Carlos Cairo-Padron, 56, of Huntsville, Texas, and Thomas Michael Fortinberry, 51, of Decatur, Alabama, were arrested on June 13, 2025 on a federal criminal complaint charging them with violating U.S. sanctions related to Venezuela, illegally smuggling goods from the United States, and money laundering. The defendants will make their initial court appearances in the Southern District of Texas today.

    According to the complaint, Cairo, a Venezuelan national and U.S. lawful permanent resident, and Fortinberry, a U.S. citizen, conspired for years to sell chemical catalysts, industrial equipment, and associated services to Venezuelan state-owned steel mills and petrochemical companies that are subject to U.S. sanctions. Cairo and Fortinberry’s scheme involved the use of U.S. and overseas front companies that served as intermediaries on shipping documents, foreign bank accounts that moved money into and out of the United States, and other activities designed to conceal the fact that the goods and services were destined for sanctioned entities.

    As alleged, from at least 2022 through the present, Cairo and Fortinberry — at times acting through companies that they owned or controlled such as DRI Reformers and Reformer Technologies — sold millions of dollars’ worth of catalysts, industrial equipment, and related services to the Venezuelan steel company Complejo Siderurgico de Guayana S.A. (COMSIGUA), which is owned by the Venezuelan government and is subject to U.S. sanctions. Cairo and Fortinberry used Chinese suppliers to ship the catalysts or industrial equipment directly from China to Venezuela, and in at least one instance, they shipped the goods from the United States to Venezuela. As part of their scheme, Cario and Fortinberry also transferred millions of dollars between bank accounts in the United States, Spain, and China — in transactions involving companies based in China, Germany, and Spain — all for the purpose of continuing their sanctions evasion scheme, and to conceal the true parties involved.

    If convicted, both Cairo and Fortinberry face a maximum penalty of 20 years in prison for the sanctions and money laundering violations, and 10 years in prison for the smuggling violation. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) and the Defense Criminal Investigative Service are investigating the case.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorneys S. Mark McIntyre and John Marck for the Southern District of Texas are prosecuting the case. Trial Attorney Christopher Magnani provided substantial assistance.

    A criminal complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News –

  • MIL-OSI USA: Venezuelan National and U.S. Citizen Arrested for Sanctions Evasion and Smuggling in Scheme to Supply Venezuela’s State-Owned Steel Industry

    Source: US State of California

    Defendants Allegedly Moved Millions Through Global Front Companies and Illegally Supplied Industrial Goods to Sanctioned Venezuelan Entities

    Note: View the criminal complaint.

    Juan Carlos Cairo-Padron, 56, of Huntsville, Texas, and Thomas Michael Fortinberry, 51, of Decatur, Alabama, were arrested on June 13, 2025 on a federal criminal complaint charging them with violating U.S. sanctions related to Venezuela, illegally smuggling goods from the United States, and money laundering. The defendants will make their initial court appearances in the Southern District of Texas today.

    According to the complaint, Cairo, a Venezuelan national and U.S. lawful permanent resident, and Fortinberry, a U.S. citizen, conspired for years to sell chemical catalysts, industrial equipment, and associated services to Venezuelan state-owned steel mills and petrochemical companies that are subject to U.S. sanctions. Cairo and Fortinberry’s scheme involved the use of U.S. and overseas front companies that served as intermediaries on shipping documents, foreign bank accounts that moved money into and out of the United States, and other activities designed to conceal the fact that the goods and services were destined for sanctioned entities.

    As alleged, from at least 2022 through the present, Cairo and Fortinberry — at times acting through companies that they owned or controlled such as DRI Reformers and Reformer Technologies — sold millions of dollars’ worth of catalysts, industrial equipment, and related services to the Venezuelan steel company Complejo Siderurgico de Guayana S.A. (COMSIGUA), which is owned by the Venezuelan government and is subject to U.S. sanctions. Cairo and Fortinberry used Chinese suppliers to ship the catalysts or industrial equipment directly from China to Venezuela, and in at least one instance, they shipped the goods from the United States to Venezuela. As part of their scheme, Cario and Fortinberry also transferred millions of dollars between bank accounts in the United States, Spain, and China — in transactions involving companies based in China, Germany, and Spain — all for the purpose of continuing their sanctions evasion scheme, and to conceal the true parties involved.

    If convicted, both Cairo and Fortinberry face a maximum penalty of 20 years in prison for the sanctions and money laundering violations, and 10 years in prison for the smuggling violation. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) and the Defense Criminal Investigative Service are investigating the case.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorneys S. Mark McIntyre and John Marck for the Southern District of Texas are prosecuting the case. Trial Attorney Christopher Magnani provided substantial assistance.

    A criminal complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News –

  • MIL-OSI Security: Venezuelan National and U.S. Citizen Arrested for Sanctions Evasion and Smuggling in Scheme to Supply Venezuela’s State-Owned Steel Industry

    Source: United States Attorneys General

    Defendants Allegedly Moved Millions Through Global Front Companies and Illegally Supplied Industrial Goods to Sanctioned Venezuelan Entities

    Note: View the criminal complaint.

    Juan Carlos Cairo-Padron, 56, of Huntsville, Texas, and Thomas Michael Fortinberry, 51, of Decatur, Alabama, were arrested on June 13, 2025 on a federal criminal complaint charging them with violating U.S. sanctions related to Venezuela, illegally smuggling goods from the United States, and money laundering. The defendants will make their initial court appearances in the Southern District of Texas today.

    According to the complaint, Cairo, a Venezuelan national and U.S. lawful permanent resident, and Fortinberry, a U.S. citizen, conspired for years to sell chemical catalysts, industrial equipment, and associated services to Venezuelan state-owned steel mills and petrochemical companies that are subject to U.S. sanctions. Cairo and Fortinberry’s scheme involved the use of U.S. and overseas front companies that served as intermediaries on shipping documents, foreign bank accounts that moved money into and out of the United States, and other activities designed to conceal the fact that the goods and services were destined for sanctioned entities.

    As alleged, from at least 2022 through the present, Cairo and Fortinberry — at times acting through companies that they owned or controlled such as DRI Reformers and Reformer Technologies — sold millions of dollars’ worth of catalysts, industrial equipment, and related services to the Venezuelan steel company Complejo Siderurgico de Guayana S.A. (COMSIGUA), which is owned by the Venezuelan government and is subject to U.S. sanctions. Cairo and Fortinberry used Chinese suppliers to ship the catalysts or industrial equipment directly from China to Venezuela, and in at least one instance, they shipped the goods from the United States to Venezuela. As part of their scheme, Cario and Fortinberry also transferred millions of dollars between bank accounts in the United States, Spain, and China — in transactions involving companies based in China, Germany, and Spain — all for the purpose of continuing their sanctions evasion scheme, and to conceal the true parties involved.

    If convicted, both Cairo and Fortinberry face a maximum penalty of 20 years in prison for the sanctions and money laundering violations, and 10 years in prison for the smuggling violation. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) and the Defense Criminal Investigative Service are investigating the case.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorneys S. Mark McIntyre and John Marck for the Southern District of Texas are prosecuting the case. Trial Attorney Christopher Magnani provided substantial assistance.

    A criminal complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI Security: Justice Department Declines Prosecution of Private Equity Firm Following Voluntary Disclosure of Sanctions Violations and Related Offenses Committed by Acquired Company

    Source: United States Attorneys General 7

    Department Credits Firm’s Swift Disclosure and Cooperation in Stopping Violations and Securing Former CEO’s Conviction

    Note: View a copy of the White Deer declination letter, Unicat non-prosecution agreement, and Mani Erfan’s plea agreement.

    The Justice Department’s National Security Division (NSD) and the U.S. Attorney’s Office for the Southern District of Texas (SDTX) today announced that they declined the prosecution of private equity firm White Deer Management LLC (White Deer) and its affiliates after the firm discovered and voluntarily self-disclosed criminal violations of U.S. sanctions and export laws committed by a company it acquired, Texas-based Unicat Catalyst Technologies LLC (Unicat).

    NSD and SDTX also announced that the Justice Department entered into a non-prosecution agreement (NPA) with Unicat, and that, on Aug. 19, 2024, the former chief executive officer (CEO) and co-founder of Unicat, Mani Erfan, pleaded guilty to conspiring to violate U.S. sanctions against Iran and other countries and foreign governments, as well as concealment and international promotional money laundering. As part of his plea, Erfan also agreed to pay a money judgment in the amount of $1,600,000.

    “After acquiring a company with a hidden history of sanctions violations, this private equity firm uncovered the misconduct, stopped it, and quickly reported it to the government, leading to the successful prosecution of a senior executive,” said Assistant Attorney General for National Security John A. Eisenberg. “Our decision to decline prosecution of the acquiror and extend a non-prosecution agreement to the acquired entity in this case reflects the National Security Division’s strong commitment to rewarding responsible corporate leadership.”

    “Illegally exporting sensitive items to Venezuela and Iran to help them evade sanctions directly undermines U.S. foreign policy and threatens our national security,” said Special Agent in Charge Chad Plantz of Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) Houston. “HSI will not sit by idly while businesses or individuals operating in the U.S. blatantly help our nation’s adversaries procure sensitive technologies or weapons and today’s announcement of a $3 million fine and the imposition of criminal charges is just another example of that enduring commitment.”

    As detailed in court documents and in the Department’s agreements with White Deer and Unicat, from approximately 2014 through 2021, Mani Erfan, Unicat’s former CEO, conspired with others, including at least one other Unicat employee, to cause Unicat to submit bids and make sales to customers in Iran, Venezuela, Syria, and Cuba in violation of U.S. economic sanctions. In total, Erfan caused Unicat to make a total of 23 unlawful sales of chemical catalysts used in oil refining and steel production to customers in Iran, Venezuela, and Cuba. Some of the sales were effected through exports of catalysts from the United States and further violated U.S. export control laws.

    To further the conspiracy, the conspirators made false statements in export documents and financial records about the true identities and locations of Unicat’s customers and falsely assured some Unicat employees that the company’s business with customers subject to U.S. economic sanctions was lawful. Unicat obtained approximately $3.33 million in revenue from its unlawful sales.

    Erfan and Unicat employees additionally falsified invoices to reduce the tariffs assessed on catalysts that Unicat imported from China. By undervaluing these imports, Unicat caused a loss of revenue of approximately $1.66 million in duties, taxes, and fees. Further, during negotiations to sell Unicat to White Deer, Unicat’s prior owners provided representations and warranties to White Deer attesting to Unicat’s compliance with U.S. sanctions and export control laws.

    The scheme came to light in June 2021, in the midst of the COVID-19 pandemic, after White Deer acquired Unicat and a second company based in the United Kingdom, and Unicat’s new CEO was able to travel to the United States to visit Unicat and begin to integrate the operations of the company. During his visit, the new CEO learned that Unicat had a pending transaction with an Iranian customer and immediately ordered the deal’s cancellation. Over the next month, White Deer and Unicat’s new CEO retained counsel to investigate, and learned that Unicat had engaged in a series of transactions with counterparties subject to different U.S. sanctions programs. Before the investigation was complete, but after determining that Unicat employees had engaged in potentially criminal violations of U.S. sanctions laws, White Deer and Unicat’s new management submitted a voluntary self-disclosure to NSD.

    Pursuant to the NPA, Unicat agreed to pay forfeiture totaling $3,325,052.10, representing the proceeds of its violations of U.S. sanctions and export control laws. In parallel resolutions coordinated between the Justice Department, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the Commerce Department’s Bureau of Industry and Security (BIS) Office of Export Enforcement (OEE), Unicat agreed to pay $3,882,797 to OFAC for its apparent violations of U.S. sanctions laws, and agreed with OEE to pay a penalty of $391,183 for its violation of U.S. export control laws. OFAC agreed to credit Unicat’s payment of forfeiture pursuant to the NPA against the OFAC penalty, and OEE has agreed to credit Unicat’s payment to OFAC against the OEE penalty. In a separate administrative resolution with U.S. Customs and Border Protection, Unicat agreed to pay $1,655,189.57, in underpaid duties, taxes, and fees.

    NSD and SDTX declined White Deer’s prosecution and entered into the NPA with Unicat after considering the factors set forth in the Department’s Principles of Federal Prosecution of Business Organizations, the National Security Division Enforcement Policy for Business Organizations (NSD Enforcement Policy), and pursuant to the provisions of the NSD Enforcement Policy that apply to Voluntary Self-Disclosures in Connection with Acquisitions (the NSD M&A Policy).

    The NSD M&A Policy provides that when a company (1) completes a lawful bona fide acquisition of another entity, (2) voluntarily and timely self-discloses to NSD potentially criminal violations of laws affecting U.S. national security committed by the acquired entity, (3) fully cooperates with NSD’s investigation, and (4) timely and appropriately remediates the misconduct, NSD generally will not seek a guilty plea from the acquiror, and there is a presumption that NSD will decline to prosecute the acquiror. The NSD M&A Policy further provides that while a presumption of declination is not available to the acquired entity, NSD will credit the acquiror’s timely voluntary self-disclosure to the acquired entity and will consider whether the acquired entity otherwise satisfies the NSD Enforcement Policy’s requirements to obtain the benefits of the Policy.

    NSD and SDTX determined that White Deer’s acquisition of Unicat was a lawful bona fide acquisition, and that White Deer’s self-disclosure was timely under all of the relevant circumstances, including the COVID-19 pandemic and in the context of White Deer’s acquisition of Unicat and efforts to integrate the company’s operations into another acquired entity. White Deer and Unicat fully cooperated with the government’s subsequent investigation by proactively identifying, collecting, and disclosing relevant evidence to investigators, including foreign language evidence and evidence located overseas, and providing detailed and timely responses to the government’s requests for information and evidence. White Deer’s and Unicat’s cooperation materially assisted the government’s investigation, leading to the successful prosecution of Unicat’s former CEO. Unicat remediated the root cause of the misconduct in less than one year from the date of its discovery by terminating culpable employees, disciplining other employees involved in the misconduct, seeking reimbursement from Unicat’s sellers, and designing and implementing a comprehensive and robust internal controls and compliance program that has proven effective in practice at identifying and preventing similar potential misconduct.

    This resolution marks the first time since the creation of the Justice Department’s Mergers and Acquisitions Policy in March 2024 that the Department has declined the prosecution of an acquiror for self-disclosing criminal conduct discovered at an acquired entity.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorney S. Mark McIntyre for the Southern District of Texas prosecuted the case.

    ICE-HSI, the Defense Criminal Investigative Service, and BIS investigated the case.

    MIL Security OSI –

  • MIL-OSI: AlayaCare Announces the Launch of Layla in Canada, an AI-Powered Assistant Designed for Home Care

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 16, 2025 (GLOBE NEWSWIRE) — AlayaCare, a leading provider of cloud-based home and community care solutions, is proud to announce the Canadian launch of Layla, an AI-powered conversational assistant designed to transform how care is delivered across the country.

    Now available to AlayaCare customers nationwide, Layla provides real-time, secure access to vital information through a conversational chat interface, supporting both caregivers and administrators in delivering higher-quality care with greater efficiency. Seamlessly integrated into the AlayaCare platform, Layla is purpose-built for the realities of home-based care — helping providers stay connected, informed, and empowered.

    “With the launch of Layla in Canada, we’re excited to bring the power of AI directly to frontline staff, simplifying access to information and improving how care is coordinated and delivered,” said Adrian Schauer, CEO of AlayaCare. “This marks a major step forward in our commitment to supporting the Canadian home care sector through innovation.”

    As home care organizations across Canada face increasing pressures — including workforce shortages and growing service demand — Layla offers a transformative solution. According to the National Center for Biotechnology Information, 80% of healthcare data is unstructured, and staff lose up to 30 minutes per shift searching for scattered information.

    Layla addresses this challenge head-on by delivering:

    • Comprehensive Data Access: Instant access to hundreds of data points across care plans, client records, visit notes, schedules, and more.
    • Integration with AlayaCare Cloud (ACC): Leverages real-time, structured data from existing systems for immediate utility.
    • Mobile-First, On-the-Go Support: Enables caregivers to find information quickly, wherever they are, ensuring faster, safer decisions.
    • Secure, Compliant Infrastructure: Designed with robust data security, including HIPAA compliance and Canadian privacy standards.
    • Trusted Clinical Knowledge: Provides accurate, easy-to-understand definitions for medical terms and conditions.

    Layla supports care teams across Canada in making informed decisions faster, improving documentation, and reducing administrative burden — ultimately enhancing client experiences and health outcomes.

    “Canadian care providers deserve technology built for their realities. Layla helps ensure they have the right information at the right time,” added Schauer. “It’s not just about efficiency; it’s about better outcomes and better support for the people delivering care every day.”

    For more information about Layla, visit alayacare.com/layla/.

    AlayaCare Press Contact:
    Steph Davidson
    steph.davidson@alayacare.com

    About AlayaCare

    AlayaCare is an end-to-end software platform for public, private, non-profit, and community home-based care organizations that manages the entire client lifecycle, including needs assessments, care plans, scheduling, visit and route optimization, and visit verification. Founded in 2014 and now with over 600 employees, AlayaCare combines traditional in-home and virtual care solutions that enable care providers to lower the cost of care and achieve better outcomes for their clients. For more information, visit: AlayaCare.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/38002137-5b0d-4ec4-9eb6-4856e4eaca1f

    The MIL Network –

  • MIL-OSI: Panther Launches PTR Token to Empower Ultra X, Building a Bridge for a Global AI Trading Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, June 16, 2025 (GLOBE NEWSWIRE) — In today’s increasingly complex and data-driven global financial markets, the integration of artificial intelligence (AI) and blockchain technology is reshaping the investment landscape. Traditional quantitative trading, reliant on human decisions and limited data analysis, struggles to meet the rapidly changing market demands. Meanwhile, investors are increasingly seeking efficient, transparent, and intelligent trading tools. Against this backdrop, the Panther Quantitative Think Tank Investment Center has emerged with its innovative Ultra X quantitative trading system and native token PTR. PTR is not only the core driving force of the Ultra X ecosystem but also serves as a bridge connecting investors, developers, and AI platforms, building a revolutionary global trading network and opening up new possibilities for wealth creation.

    PTR: The Core Link of the Ultra X Ecosystem

    The PTR token is the lifeblood of the Ultra X ecosystem, with a profound impact on creating and maintaining an AI-driven quantitative trading ecosystem. Ultra X is a cutting-edge trading system that integrates deep learning, big data analysis, and blockchain technology, supporting autonomous trading in stocks, gold, options, and cryptocurrencies (such as BTC, ETH, USDT, USDC). As a bridge within the ecosystem, PTR connects various stakeholders and drives every aspect from research and development to global promotion, ensuring Ultra X becomes the “super brain” of the financial market.

    The head of Panther’s R&D team stated, “PTR is the soul of the Ultra X ecosystem. It is not only the funding engine for technological innovation but also the key link for global investors to share success with Ultra X.”

    How PTR Shapes the Ultra X Ecosystem

    PTR’s unique position is reflected in the following core functions, highlighting its profound impact as an ecosystem bridge:

    • 1. Funding Link: Driving Technological Innovation

    PTR provides funding for Ultra X’s R&D, data acquisition, and global server deployment through decentralized financing. For example, PTR supports the system’s real-time analysis of massive data, ensuring Ultra X continues to evolve and maintain technological leadership.

    • 2. Incentive Bridge: Connecting Users and Value

    PTR holders enjoy advanced features of Ultra X, such as real-time monitoring of investment market directions and trends, dashboards for cryptocurrency capital flows (USDT, BTC, ETH, USDC), and exclusive trading strategy reports. Through a profit-sharing mechanism, holders can share in the profits after Ultra X’s market launch, directly participating in ecological value creation. This incentive model closely connects users and the platform.

    • 3. Governance Hub: Empowering Community Participation

    PTR is not just a trading tool; it grants governance rights to holders. In the future, holders will be able to vote on Ultra X’s feature upgrades or personalized services, building a community-driven ecosystem. This decentralized governance reinforces PTR’s position as an ecosystem bridge.

    • 4. Trust Foundation: Safeguarding User Interests

    Panther commits to fully compensating users if Ultra X’s recommended strategies result in losses, with a single compensation cap of 100%. This mechanism seamlessly connects user trust with platform responsibility through PTR’s bridging role, enhancing the ecosystem’s reliability.

    Advantages and Features of PTR

    • · Ecosystem Integration: PTR unites investors, developers, and AI technologies, creating a self-sustaining trading ecosystem that transcends traditional financial models.
    • · Global Connectivity: Supports the global promotion of Ultra X, covering regions such as the U.S., Canada, the UK, and Asia, with plans to launch on Google Play and the App Store to expand user reach.
    • · Transparency and Trustworthiness: Semi-annual independent audits of Ultra X performance and PTR usage details, coupled with strict AML/KYC policies and cold wallet storage, ensure fund security.
    • · Social Value: Panther donates 5% of Ultra X profits to educational and technological public welfare, reflecting the social responsibility of the PTR ecosystem.

    The Cornerstone of Trust and Transparency

    Panther reinforces the credibility of PTR and Ultra X through transparent operations. Monthly reports from independent audits publicly disclose trading performance and token usage, which users can access in real-time via the Panther official website (https://pqtic.com). Funds are managed by a third-party custodian, with PTR reserves stored in multi-signature cold wallets, preventing unauthorized access. Additionally, Panther’s market value management program ensures the healthy development of PTR prices through liquidity support and strategic partnerships, protecting the interests of early investors.

    PTR: The Connector of Financial Futures

    The PTR token serves as a link and bridge, transforming Ultra X into a global AI trading ecosystem. Whether providing funding for the system, incentivizing user participation, or empowering community governance, PTR is pushing the boundaries of financial technology. Supported by Ultra X, it analyzes market trends and social media sentiment to provide precise strategies, helping users succeed in a volatile market. As Panther accelerates global promotion and recruits regional sales agents, PTR is becoming a benchmark in fintech that connects technology and wealth.

    About Panther Quantitative Think Tank Investment Center

    Founded in 2017 and headquartered in New York, Panther is a pioneer in AI-driven quantitative trading. Its flagship product, Ultra X, integrates deep learning, natural language processing, and blockchain technology to provide intelligent trading solutions. With a global network of partners, Panther is committed to reshaping the future of wealth creation.

    Website: https://pqtic.com/

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network –

  • MIL-OSI USA: Reps. Kim, Garbarino Statement on Preserving SALT Deal

    Source: United States House of Representatives – Representative Young Kim (CA-39)

    Washington, DC – Today, SALT Caucus R Co-Chairs Reps. Young Kim (CA-40) and Andrew Garbarino (NY-02) released a statement on reports that the Senate Finance Committee maintains a $10,000 SALT cap in its version of reconciliation bill text:

    “We have been crystal clear that the SALT deal we negotiated in good faith with the Speaker and the White House must remain in the final bill. It not only upholds President Trump’s commitment to raise the SALT cap, but has been praised by middle-class families, firefighters, law enforcement, small business owners, and hardworking Americans across the country. Instead of undermining the deal already in place and putting the entire bill at risk, the Senate should work with us to keep our promise of historic tax relief and deliver on our Republican agenda,” said Kim and Garbarino.

    MIL OSI USA News –

  • MIL-OSI Banking: Growth, Interrupted: How Crises delay Global Convergence

    Source: International Monetary Fund

    Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

    MIL OSI Global Banks –

  • MIL-OSI USA: Landsat at Work: Energy Nurturing Nature

    Source: US Geological Survey

    Exelon Corporation, one of the largest utility companies in the United States, touches a significant amount of land in connection with its electric and natural gas transmission and distribution. The company decided to get a better idea of the quality of the ecosystems on its operational lands in support of its commitment to positive nature outcomes. 

    This is an example of the maps Exelon has produced for the biodiversity sensitivity in its service areas and transmission rights-of-way. The Delmarva Power Service Area, outlined in black, covers Delaware and eastern Maryland, though this map also includes characterization for Exelon service areas outside of Delmarva. Factors contributing to high sensitivity (in orange and red tones) in certain areas of Delmarva include the presence of forests and wetlands, water stress and high species abundance in high sensitivity areas. Used with permission from Exelon Corporation.

    So Exelon’s sustainability team used publicly available information, especially NLCD, to create a baseline set of maps released in 2024 that characterize the level of biodiversity sensitivity, or the diversity of species, for the land in each of its service territories. Exelon owns utilities in the Mid-Atlantic and northern Illinois regions, including Washington, D.C., and Chicago.

    Half of the analysis for the maps was weighted to rely on NLCD, and the other half included data on water drainage, protected areas, biodiversity hotspots, average species abundance and water stress, or water demand vs. supply.

    NLCD provided the multistate coverage Exelon needed at a good resolution, explained Kevin Costello, Exelon’s senior manager of sustainability strategy. In addition, he said, NLCD “provides a broad representation of the physical and ecological characteristics of the landscapes that we work in and can provide more insight than just specific ecological data.”

    Costello used wetlands as an example of why NLCD’s landscape distinctions are important. “While wetlands across our territory are providing ecological services, by layering multiple datasets together, we might be able to conclude that a wetland in an area of higher biological diversity is providing more ecological value than a wetland in an area of lower biological diversity.”

    The baseline results ranked most areas of the land Exelon utilities pass through as having low to medium biodiversity sensitivity because of their use as metro areas or agricultural production. However, some areas in the Mid-Atlantic had high biodiversity sensitivity because of the presence of significant coastal and inland wetlands, forests, water stress, biodiversity hotpots and protected areas.

    Opportunities to Improve Habitat 

    With a baseline of ecological value, Exelon now can make better-informed decisions. 

    “We’re able to strategically develop stewardship-based projects that could improve ecological quality in our service areas. Exelon performs multiple projects to expand and improve electric and gas service in our territories. While we are performing this work, we look for opportunities to improve the quality of the habitat above the state where we found it. We are leveraging our biodiversity maps to assist in these assessments,” Costello said.

    “We’re also looking at things like, where do we have rights-of-way that are in between areas of very high biological quality habitat? Do we have a right-of-way that’s connecting existing green spaces, for instance, a state or national park and a nearby land trust? If so, what can we do within that corridor to improve the quality of the habitat so that it helps connect those two ecosystems for the species that may be utilizing our land to migrate between them?”

    NLCD and Landsat are tools to help companies consider the bigger picture for land management.

    “Landsat can provide a significant value into our analysis on a large-scale assessment of our corporate lands from a stewardship and land management perspective,” Costello said.

    Exelon’s intentions are an example of how NLCD and Landsat data are used to not just monitor but also improve the world around us.

    MIL OSI USA News –

  • MIL-OSI: Middlefield Concludes Mutual Fund Risk Rating Review

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 16, 2025 (GLOBE NEWSWIRE) — Middlefield Group (“Middlefield”) announced today that it has concluded the risk rating review of its Mutual Funds. The risk rating of Middlefield Innovation Dividend Class has been increased from Medium to Medium-to-High, and the risk rating of Middlefield Global Infrastructure Fund has been increased from Low-Medium to Medium. These changes are reflected in the Prospectus and the respective Fund Facts dated June 16, 2025. The risk rating change is effective immediately and is based on the risk classification methodology mandated by the Canadian Securities Administrators, in accordance with National Instrument 81-102 Investment Funds.

    Middlefield reviews the risk rating of the Mutual Funds it manages at least on an annual basis, as well as when a fund undergoes a material change. These changes are not the result of any changes to the investment objectives, strategies, or management of the respective Funds.

    Copies of the Prospectus and further information about any of our Mutual Funds are available by visiting our website at www.middlefield.com or contacting Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.

    About Middlefield

    Founded in 1979, Middlefield is a specialist and independent equity income manager headquartered in Toronto, Canada. Middlefield’s actively managed, award-winning funds are designed to be “investments that work for you” by distributing consistent and high levels of income through various market cycles. Middlefield’s funds span a number of market sectors including real estate, healthcare, innovation, sustainability, infrastructure and energy. Investors can access these strategies in a variety of product types including ETFs, Mutual Funds, Closed-End Funds, Split-Share Funds and Flow-through LPs.

    Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

    The MIL Network –

  • MIL-OSI: PCM Encore Surpasses $1.2 Billion in Client Assets, Expands Nationwide in First Six Months Serving External Families

    Source: GlobeNewswire (MIL-OSI)

    Built over five years as a single family office, PCM Encore opened to other families six months ago and now manages over $1.2 billion. With 57 families onboard, the firm continues expanding its advisor network and direct investment capabilities across the country.

    Photo Credit PCM Encore

    BELLEVUE, Wash., June 16, 2025 (GLOBE NEWSWIRE) — PCM Encore today announced that it has exceeded $1.2 billion in assets under management, just six months after opening its platform to outside families. Originally founded as a single family office, PCM Encore has spent the past five years building a robust, institutional-grade wealth management platform. The firm now serves 57 families across the United States.

    PCM Encore provides a comprehensive suite of investment, tax, estate, and family office services tailored to the needs of sophisticated families. The platform emphasizes long-term partnership, after-tax return optimization, and access to high-quality private and public investment opportunities.

    Key Milestones Achieved in the First Six Months:

    PCM Encore’s early growth reflects rising demand among wealthy families for a more personalized alternative to traditional wirehouse and RIA offerings. With over $1.2 billion in client AUM, the firm is focused on sustainable, relationship-driven expansion.

    • Built out a team of registered advisors based in: Aspen, Charlotte, Dallas, Denver, and Seattle
    • Developed a direct investment team based in Menlo Park
    • Opened an additional office in Miami
    • Onboarded 57 families to the PCM Encore platform
    • Expanded team to more than 15 professionals, including experts in investment management, technology, compliance, and client advisory
    • Delivered comprehensive services, including tax and estate planning, family office solutions, and portfolio optimization
    • Facilitated client access to a broad array of leading fund managers and investment strategies, including: Direct Indexing, Private Credit, Private Real Estate, Private Infrastructure, Private Equity, Venture Capital

    Tax Alpha In a Volatile Market

    PCM Encore’s tax-aware investing approach has helped clients outperform even in a stagnant market. During the volatility following April’s “Liberation Day” tariff announcements, the firm’s investment team deployed aggressive tax loss harvesting strategies. While major indices like the S&P 500 were flat year-to-date through May, PCM Encore clients ended the period meaningfully ahead on an after-tax basis.

    “Especially in environments like this, after-tax returns are what separate smart portfolios from the rest,” said Bradford Lin, Principal at PCM Encore and former KKR private equity executive. “By capturing losses tactically and reinvesting, we’ve delivered tax alpha that compounds over time—even when the market goes nowhere.”

    The firm reported over 1% in tax alpha in Q1, with early Q2 data pointing to even stronger results. Past performance is not indicative of future results. Tax alpha results may vary based on individual circumstances and market conditions.

    Institutional Investment Platform with a Proven Track Record

    PCM Encore offers families access to a carefully curated suite of private and public investment opportunities, along with proprietary diligence, ongoing monitoring, and operational support.

    Notable recent outcomes include:

    • A successful exit from Vector, a trucking and logistics software company, at a nine-figure valuation, where PCM Encore was a seed investor and board member
    • In partnership with ACG and Prudential, breaking ground on the first major multifamily development project of 2025 in the Seattle metro area

    These results highlight the firm’s ability to originate and execute investments across various asset classes while aligning with client portfolios.

    Building a Team for Long-Term Success

    PCM Encore was founded by Michael Paulus, a seasoned growth investor and entrepreneur with a track record of building companies at scale. The firm’s team has grown to include professionals with backgrounds in investment management, technology, compliance, and client service. PCM Encore’s leadership includes:

    • Bradford Lin, Direct Investments Principal and former KKR private equity executive
    • John Shepard, Chief Technology Officer and former Microsoft executive
    • Sam Rice, Chief Compliance Officer
    • Andrew Weiss, Chief Marketing Officer

    The firm remains focused on expanding its platform and deepening relationships with families nationwide.

    “We’ve spent years building PCM Encore for our own family,” Paulus added. “Now, we’re honored to be a trusted partner to other families who share our long-term mindset and value the same high standards that we do.”

    Visit PCM Encore website to learn more about PCM Encore’s services and locations.

    About PCM Encore

    PCM Encore is a technology-forward, independent fiduciary financial advisor serving ultra-high-net-worth individuals, trusts, and family offices. The firm combines a personalized, client-first approach with institutional investment access, proprietary strategies, and deep expertise in tax and estate planning. PCM Encore is headquartered in Bellevue, Washington, with advisors and investment professionals based in Aspen, Charlotte, Dallas, Denver, Seattle, and Menlo Park.

    Contact Information:

    Contact Person’s Name: Michael Paulus
    Organization / Company: PCM Encore
    Company website: https://encoreinvestment.com/
    Contact Email Address: hello@encoreinvestment.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8268d15a-8f5f-4987-862a-1a16eb873dde

    The MIL Network –

  • MIL-OSI USA: SBA Relief Still Available to New Jersey Small Businesses and Private Nonprofits Affected by Excessive Rain and High Winds

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP)organizations in New Jersey of the July 15 deadline to apply for low interest federal disaster loans to offset economic losses caused by excessive rain and high winds occurring July 16, 2024.

    The disaster declaration covers New Jersey counties of Morris, Passaic, Sussex and Warren; Orange in New York as well as Monroe and Pike in Pennsylvania.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

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

    Submit completed loan applications to SBA no later than July 15, 2025.

    ###

    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, or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available for Florida Private Nonprofits Affected by Hurricane Milton

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in the Florida area of the July 16 deadline to apply for low interest federal disaster loans to offset economic losses caused by Hurricane Milton on        Oct. 5-Nov. 2, 2024.

    The disaster declaration covers the counties of Brevard, Charlotte, Citrus, Clay, Collier, DeSoto, Duval, Flagler, Glades, Hardee, Hendry, Hernando, Highlands, Hillsborough, Indian River, Lake, Lee, Manatee, Marion, Martin, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, the Miccosukee Tribe of Indians of Florida and Volusia.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to PNPs providing non-critical services of a governmental nature with financial losses directly related to the disaster. Example of eligible non-critical PNPs include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

    EIDLs are available for working capital needs caused by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    The loan amount can be up to $2 million with interest rates as low as 3.25% and terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

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

    The deadline to return economic injury applications is July 16, 2025.

    ###

    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 or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI Banking: Services Council spotlights good regulatory practices, advances discussions on other issues

    Source: WTO

    Headline: Services Council spotlights good regulatory practices, advances discussions on other issues

    On 10 June, members also participated in an event under the “Simply Services” series, which serves as an informal platform for sharing the latest developments in trade in services (see below).
    Thematic session on good regulatory practices
    An informal thematic session on good regulatory practices (GRPs) was held on 12-13 June, as agreed at the March meeting of the Council for Trade in Services. GRPs for services trade refer to approaches to designing and implementing regulations aimed at achieving better regulatory outcomes. Discussions focused on measures such as increased transparency, including through stakeholder engagement, streamlining and digitalizing authorization processes, and promoting impartial and independent regulatory decision-making.
    The session featured extensive experience-sharing. The WTO Secretariat provided a broad overview of GRPs in services trade, including their role in regional trade agreements and their economic benefits. International organizations and regional economic fora — including the Organisation for Economic Co-operation and Development (OECD), the World Bank, United Nations Trade and Development (UNCTAD), the Asia-Pacific Economic Cooperation (APEC), the Association of Southeast Asian Nations (ASEAN) Secretariat, and the International Trade Centre (ITC) — shared data demonstrating how effective design and implementation of GRPs can boost both trade and economic growth. They also emphasized the importance of addressing implementation gaps between high- and low-income countries through capacity building, institutional strengthening, and more inclusive stakeholder engagement.
    Several members, including Australia, China, the European Union, Hong Kong China, the Philippines, the Republic of Korea, and the United Kingdom, as well as other organizations, presented national experiences in leveraging GRPs to facilitate services trade. They highlighted domestic reforms to simplify procedures, reduce regulatory burdens, and improve regulatory quality, including through digital tools, single online portals, regulatory impact assessments, and enhanced stakeholder engagement. The importance of predictability, proportionality, inter-agency coordination, and outcome-focused regulation was underscored, alongside efforts to foster innovation, facilitate cross-border trade, and strengthen regulatory cooperation.
    Members reflected on the key takeaways from the session, emphasizing the rich discussions and valuable insights shared. Several noted that GRPs not only support international trade but also enhance domestic competitiveness and consumer welfare. The role of GRPs in strengthening crisis preparedness and resilience was also emphasized, with examples showing how transparent, predictable and streamlined regulatory frameworks can support faster and more effective responses in times of emergency.
    There was broad recognition of the role that international commitments, such as WTO members’ recent adoption of disciplines on services domestic regulation and regional trade agreements, play in providing a stable framework for consolidating domestic reforms aimed at improving the domestic business environment. Members expressed interest in continuing experience-sharing and peer learning. They also encouraged other members to adopt WTO disciplines on services domestic regulation to sustain reform efforts and promote services trade. 
    At the close of the session, the Chair of the Council for Trade in Services, H.E. Ambassador Ram Prasad Subedi (Nepal), emphasized that the depth and quality of GRP implementation by ministries and regulatory authorities is essential, with regulatory reforms representing an ongoing process informed by experience, evolving capacities and changing circumstances. He underlined the value of peer learning and regular exchanges on regulatory innovation, as well as the role that technical assistance can play in supporting members’ reform efforts.
    Responding to ministerial mandates
    Members continued efforts to advance the instruction in the 2024 Ministerial Declaration to reinvigorate work on trade in services and facilitate greater participation of developing members in services trade.
    The African, Caribbean and Pacific (ACP) Group introduced a submission on the role of services trade in responding to crises and resilience-building, as well as on the challenges faced by developing members in realizing the full potential of services trade. Members supported deepening work on the ACP Group’s proposal, with some suggesting a thematic session for further discussions.
    Barbados, South Africa, and the United Kingdom also presented a proposal for a thematic session on the green services economy and sustainable development. Members agreed in principle to organize an informal experience-sharing session in December, contingent on agreeing on an acceptable outline, to further explore the opportunities and challenges of leveraging services trade to deliver on environmental objectives. Suggestions were made on possible topics and speakers.
    As previously agreed at the March meeting, the Council is scheduled to organise an informal thematic session on the recognition of professional qualifications in October, subject to convergence on the session’s outline.
    Participation of least-developed countries in services trade
    Members received an update by the WTO Least Developed Countries (LDC) Group regarding its request to conduct a survey, hosted on the WTO website, to collect information on how their service suppliers engage with consumers and businesses in other economies. The LDC Group reported on ongoing consultations with a member who has maintained reservations about the request since the March meeting.
    The Group reaffirmed the importance of the survey in supporting LDCs’ participation in services trade, in line with the ministerial mandate to operationalize the “LDC Services Waiver,” adopted at the 8th Ministerial Conference in 2011.
    Engagement between the members concerned will continue to reach consensus on the issue.
    Services trade concerns
    The Council addressed issues related to recent unilateral tariff measures. China noted the need to consider overall trade balances, that include services trade, when setting trade policy. It also expressed concerns about the impact of US “reciprocal” tariffs on global supply chains and underscored the importance of multilateral collaboration under the WTO. The latter point in particular was echoed by other members. The United States said that, in contrast to the openness of its service markets, China maintained many restrictions and uncompetitive practices in numerous services sectors.
    Members also reverted to previously raised specific trade concerns. Japan and the United States repeated their concerns over cybersecurity measures implemented by China and Viet Nam, with several members echoing these concerns.
    China reiterated its concerns regarding certain US services measures and India’s measures affecting mobile applications.
    Trade in financial services
    On 11 June, the Committee on Trade in Financial Services appointed Mr. Will Nixon of Australia as its new Chair.
    Members focused on a proposal to organize an informal thematic session on “Facilitating Digital Payment Systems and Remittance Services”, building on the original proposal submitted by China, India, Pakistan, and the Philippines, which was first reviewed at the March meeting. The proposal covers three main topics: developing robust digital payment systems, ensuring interoperability of payment systems, and facilitating cross-border remittances.
    The Committee agreed to consider the latest version of the draft agenda put forward by China and the Philippines. Unless any objections are raised by 20 June 2025, the proposal will be automatically adopted. If approved, the session will take place alongside the next cluster of services meetings scheduled for 29 September to 3 October.
    The Committee also discussed a new submission by Morocco (S/FIN/W/103) on reducing the costs of cross-border remittances. Morocco emphasized the strategic importance of remittances for the economic and social development of developing members and called for multilateral cooperation to improve remittance transfers, reduce costs, and enhance transparency. It also expressed its intent to bring this issue to the 14th Ministerial Conference (MC14) in March 2026. Members agreed to continue discussions at the next Committee meeting.
    Classification of environmental services
    At its 11 June meeting, the Committee on Specific Commitments confirmed Mr. Sirapat Vajraphai of Thailand as its new Chair. The Committee is one of the subsidiary bodies of the Services Council.
    Discussions focused on the classification of environmental services. Building on previous discussions regarding the Agreement on Climate Change, Trade and Sustainability (ACCTS) and its contributions to defining and classifying environmental services, the United Kingdom presented its new analysis (S/CSC/W/80), comparing the APEC Reference List and the ACCTS List. Delegates welcomed the UK’s analysis as a valuable foundation for further work and expressed interest in continued engagement on this issue.
    Members also revisited Canada’s proposal (S/CSC/W/77) for an informal experience-sharing session on services classification related to the environment. They agreed to hold the session in October alongside the next services cluster of meetings.
    Recent developments in services trade policy
    An event held on 12 June, entitled “Services Unbound — Digital Technologies and Policy Reform in East Asia and the Pacific,” addressed the region’s challenges, particularly barriers to competition in key services that hinder innovation. Participants also called for deeper domestic reforms and stronger international cooperation.
    The event was organized by the WTO’s Trade in Services and Investment Division as part of the “Simply Services” speaker series, an informal platform for sharing the latest information on services trade trends. The webcast of the event is available here.

    Share

    MIL OSI Global Banks –

  • MIL-OSI Banking: Verizon’s Total Wireless Supports Working Students with First-Ever Social Impact Program, “Total Spark”

    Source: Verizon

    Headline: Verizon’s Total Wireless Supports Working Students with First-Ever Social Impact Program, “Total Spark”

    NEW YORK — Total Wireless, a leading provider of premium, affordable and flexible wireless plans covered by the Verizon 5G network, today announces the launch of Total Spark, the latest social impact program from the Verizon Value portfolio.

    Designed to support working students, Total Spark is tailor-made to meet the Total Wireless community where they are – whether they’re working full-time and going to school at night, balancing family obligations with school, part-time students pursuing additional training and more.

    To help Total Spark truly meet the needs of working students everywhere, the brand commissioned a custom survey of more than 1,000 U.S. adult students[1] to uncover insights on the true needs of working students across the country and found:

    • A third (32%) of working students have a job to support their families. Additionally, one-third (32%) of working students rely on government subsidy programs to get by, and a large majority (89%) working students have student loans.
    • Nearly three quarters (73%) of working students wish they had additional support to help them with pursuing a career. Career mentorship was indicated as the most useful support service for all students.
    • Only 1 in 10 working students strongly agree that they have adequate free time. Time is short for many, as unaided, general time management is the number one obstacle among working students.
    • Mobile phones are seen as an essential tool for staying connected by a large majority of working students (90%). This is especially true for students who work full-time, who indicate they rely on mobile phones to stay connected for work and for job searching.

    That’s why Total Wireless partnered with Empower Work, a national nonprofit on a mission to build healthier workplaces, to support programs that addressed each of these pain points. Together, Total Wireless and Empower Work identified five nonprofit organizations in Chicago, Dallas, and Detroit to receive grants between $50,000 – $150,000. The grants will fund existing community-oriented programs supporting working students – from job training and skill development to job placement and career advancement. Additionally, Total Spark will enable each grant recipient to host in-person events for working students at predetermined, independently operated Total Wireless retail locations in each city later this year. With many working students indicating the need for career support, Total Spark events will focus programming in this area and on other pressing needs of working students today.

    “Our Total Wireless customers are the ultimate go-getters – and we know nobody hustles harder than working students,” Nancy Clark, President of the Verizon Value segment said. “Whether our customers are returning to school or celebrating a recent graduation, connections on-line and off are crucial – our Total Spark program is just a reminder that we are ‘in your corner’ no matter the stage of that journey. We’re proud to support our communities when and where they need it most.”  

    In its first year, Total Spark will support the following nonprofits in three cities, with additional expansions planned for the coming years.

    Chicago, IL

    • The Jane Addams Resource Corporation promotes strong communities, businesses, and households to ensure that people who work do not live in poverty. Throughout the year, JARC offers free manufacturing training in Welding and CNC (Computer Numerical Control), along with wraparound support services to help adults build skills and secure steady, living-wage jobs that bring financial stability to themselves and their families.
    • LIFT-Chicago programs invest in families with children ages 0-8 through integrated financial coaching and direct cash support. Additionally, they offer educational and employment coaching for adults, empowering parents to set and achieve goals that put families on the path toward economic mobility through support for going back to school, improving credit, eliminating debt, or securing a living wage.

    Dallas, TX

    • The Wilkinson Center – whose mission is to transform the lives of Dallas families by providing pathways to self-sufficiency with dignity and respect – serves approximately 24,000 individuals annually through a wide range of programming, including financial coaching, emergency support services, as well as adult education and workforce training.

    Detroit, MI

    • NPower Michigan is rooted in community and dedicated to empowering young adults and military-connected individuals from low-income communities to thrive in the digital economy. Through transformative, no-cost IT training, industry-recognized credentialing, job placement assistance, and comprehensive social support services, NPower creates clear career pathways to economic mobility and sustainability.
    • TechTown Detroit’s mission is to drive economic growth by supporting entrepreneurs, startups, and small businesses, particularly those in tech and innovation. For working students, TechTown provides access to resources, networking, and career development opportunities to help them balance work, education, and entrepreneurial goals.

    To mark the Total Spark debut, Total is hosting a one-of-a-kind “Career Spark” Fair in Chicago on Friday, June 27 near Wicker Park. Total’s “Career Spark” fair will provide working students in the area with the tools they need to achieve success. Stations are focused on student well-being and career growth and include tips and resources to manage work/life balance, short and long term career opportunities, community resources from our nonprofit partners & Total Spark grant recipients, a headshot station, plenty of Total swag, and more.

    On Thursday, June 26, the brand will also take coffee, career and community to new heights at its takeover of the buzzy Oro Coffee & Chocolate coffee shop pop-up, where working students in Chicago can grab a midweek pick-me-up on us, enjoy a quiet place to study and work and get connected to personal and professional development resources.

    The Total Spark launch is the latest social impact program under the new Value Cares platform, which reinforces the Verizon Value segment’s focus of empowering communities with the reliable connectivity they need to thrive. Total Spark launched following the success of Visible and its award-winning impact program, Connection Protection, where individuals who experience job loss can receive three months of service with costs covered by Visible and get connected to additional career services support, also provided by Empower Work’s text-line.

    “We’re thrilled to build on the success of the Visible Connection Protection program by launching Total Spark,” Jaime-Alexis Fowler, Founder and Executive Director at Empower Work said. “Empower Work exists to help address these very gaps and concerns of today’s diverse workforce – students included. Now through Total Spark, we’re helping to scale support for this population in a moment where it is most needed.”

    For more information on Total Spark and forthcoming programs with its partners, go to https://www.totalwireless.com/total-spark. Interested attendees may reserve a spot for the Total Career Spark Fair in Chicago on Friday, June 27 by signing up here: https://partiful.com/e/pqHAgV3DAi2etV67PFRG.

    [1]Total Wireless commissioned KRC Research to conduct a survey among U.S. adult students (n=1,004), including non-working students (n=200) and working students (n=804).​ The study was fielded between May 9-15, 2025.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Verizon to report 2Q earnings July 21, 2025

    Source: Verizon

    Headline: Verizon to report 2Q earnings July 21, 2025

    NEW YORK, N.Y. – Verizon Communications Inc. (NYSE, Nasdaq: VZ) will report second-quarter 2025 earnings on Monday, July 21, 2025. The company will present results on a webcast beginning at 8:30 a.m. Eastern Time. Second-quarter 2025 materials will be available at 7:00 a.m. ET on Verizon’s Investor Relations website, https://www.verizon.com/about/investors. These materials will include:

    • Detailed information on Verizon’s second quarter results, including a recording and transcript of management’s commentary;
    • Verizon’s earnings news release; and
    • Financial tables.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Japan gives CHF 105,000 to support trade capacity-building in developing economies

    Source: World Trade Organization

    The Global Trust Fund finances trade-related technical assistance in areas such as market access, trade facilitation, services and agriculture. The objective is to help participants better understand WTO agreements and participate more effectively in global trade negotiations.

    WTO Director-General Ngozi Okonjo-Iweala said: “We are grateful for Japan’s continued partnership, which reflects its longstanding commitment to supporting the multilateral trading system and capacity-building efforts for developing countries and LDCs. This contribution will help officials enhance their skills to better support their economies’ effective participation in global trade and to leverage international markets in pursuit of new opportunities for sustainable growth and job creation.”

    Japan’s Ambassador and Deputy Permanent Representative to the WTO, Mr. Naoki Hikota, said: “Japan’s long-standing support for the Global Trust Fund reflects our firm belief in the essential role the rules-based multilateral trading system plays in providing stability, predictability, and inclusive growth. By contributing to technical assistance and capacity-building, we aim to strengthen the ability of developing and least-developed country Members to implement the WTO Agreements and thereby support their complementing policies for sustainable development. It is our strong conviction that expanding their capacity to fully participate in the multilateral trading system will create more opportunities to reap the benefits of global trade.”

    Since 2002, Japan has contributed over CHF 12.8 million to the WTO Global Trust Fund and other WTO trust funds.

    MIL OSI Global Banks –

  • MIL-OSI USA: Change in Disaster Recovery Center Hours in South Texas

    Source: US Federal Emergency Management Agency

    Headline: Change in Disaster Recovery Center Hours in South Texas

    Change in Disaster Recovery Center Hours in South Texas

    Change in Disaster Recovery Center Hours in South TexasAUSTIN – In coordination with the Texas Division of Emergency Management (TDEM), FEMA and U

    S

    Small Business Administration (SBA) have been staffing Disaster Recovery Centers (DRCs) to offer face-to-face help to residents of the four South Texas counties affected by the severe storms and flooding that occurred March 26-28, 2025

    Starting Saturday, June 21, new weekend hours of operation for all seven DRCs are:Saturdays: Open 8 a

    m

    to 5 p

    m

    Sundays: ClosedWeekday hours remain the same: Monday – Friday, 8 a

    m

    to 7 p

    m

    All DRCs will be closed for the Juneteenth Holiday (Thursday, June 19); and reopen on Friday, June 20, at 8 a

    m

    Homeowners and renters in Cameron, Hidalgo, Starr and Willacy counties may be eligible for FEMA assistance for losses not covered by insurance

    FEMA and SBA support state-led recovery efforts at the recovery centers

    Staff can help survivors apply for federal assistance

    They can also identify potential needs and connect survivors with local, state and federal agencies, as well as nonprofits and community groups

     The list of DRCs by county is as follows:Cameron CountySan Benito Parks and Recreation Building705 N Bowie St

    San Benito, TX Harlingen Convention Center701 Harlingen HeightsHarlingen, TX 78552 Hidalgo CountyLas Palmas Community Center1921 N

    25th St

      McAllen, TX   Pharr Development & Research Center  850 W

    Dicker Rd  Pharr, TX Weslaco EDC275 S

    Kansas Ave

    Weslaco, TX 78596 Starr CountyStarr County Courthouse Annex100 N FM 3167Rio Grande City, TX 78582 Willacy CountySebastian Community Center434 West 8th St

    Sebastian, TX 78594 For information and to apply online visit SBA

    gov/disaster

    Applicants may also call the 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

    Survivors can apply to FEMA in several ways including going online to DisasterAssistance

    gov, downloading the FEMA App for mobile devices or calling the FEMA Helpline at 800-621-3362

    Calls are accepted every day from 6 a

    m

    to 10 p

    m

    CT

    Help is available in most languages

     If you use a relay service, such as video relay (VRS), captioned telephone or other service, give FEMA the number for that service

    To view an accessible video about how to apply visit: Three Ways to Register for FEMA Disaster Assistance – YouTube

    For more information, visit fema

    gov/disaster/4871

    Follow FEMA Region 6 on social media at x

    com/FEMARegion6 and at facebook

    com/FEMARegion6/
    toan

    nguyen
    Mon, 06/16/2025 – 16:22

    MIL OSI USA News –

  • MIL-OSI USA: NASA Seeks Commercial Feedback on Space Communication Solutions

    Source: NASA

    NASA is seeking information from U.S. and international companies about Earth proximity relay communication and navigation capabilities as the agency aims to use private industry satellite communications services for emerging agency science missions.
    “As part of NASA’s Communications Services Project, the agency is working with private industry to solve challenges for future exploration,” said Kevin Coggins, deputy associate administrator of NASA’s SCaN Program. “Through this effort, NASA missions will have a greater ability to command spacecraft, resolve issues in flight, and bring home more data and scientific discoveries collected across the solar system.”
    In November 2024, NASA announced the TDRS (Tracking and Data Relay Satellite) system, the agency’s network of satellites relaying communications from the International Space Station, ground controls on Earth, and spacecraft, will support only existing missions.
    NASA, as one of many customers, will obtain commercial satellite services rather than owning and operating a replacement for the existing satellite system. As NASA transitions to commercial relay services, the agency will leverage commercial capabilities to ensure support for future missions and stimulate private investment into the Earth proximity region. Commercial service offerings could become available to NASA missions as early as 2028 and will continue to be demonstrated and validated through 2031.
    NASA’s SCaN issued a Request for Information on May 30. Responses are due by 5 p.m. EDT on Friday, July 11.NASA’s SCaN Program serves as the management office for the agency’s space communications and navigation. More than 100 NASA and non-NASA missions rely on SCaN’s two networks, the Near Space Network and the Deep Space Network, to support astronauts aboard the International Space Station and future Artemis missions, monitor Earth’s weather, support lunar exploration, and uncover the solar system and beyond.
    Learn more about NASA’s SCaN Program at:
    https://www.nasa.gov/scan

    MIL OSI USA News –

  • MIL-OSI: Picton Mahoney Asset Management Announces Monthly Distribution for PICTON Long Short Income Alternative Fund Exchange Traded Fund Units, PICTON Credit Opportunities Alternative Fund Exchange Traded Fund Units, PICTON Core Bond Fund Exchange Traded Fund Units, PICTON Multi-Strategy Alpha Alternative Fund Exchange Traded Fund Units and PICTON Investment Grade Alternative Fund Exchange Traded Fund Units

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 16, 2025 (GLOBE NEWSWIRE) — (TSX: PFIA, PFSS, PFCB, PFAA, PFIG) Picton Mahoney Asset Management announced today that it has declared the June 2025 monthly cash distribution of $0.0351 per unit for the ETF units (“ETF Units”) of the PICTON Long Short Income Alternative Fund (formerly Picton Mahoney Fortified Income Alternative Fund).

    Picton Mahoney Asset Management announced today that it has declared the June 2025 monthly cash distribution of $0.0498 per unit for the ETF Units of the PICTON Credit Opportunities Alternative Fund (formerly Picton Mahoney Fortified Special Situations Alternative Fund).

    Picton Mahoney Asset Management announced today that it has declared the June 2025 monthly cash distribution of $0.0321 per unit for the ETF Units of the PICTON Core Bond Fund (formerly Picton Mahoney Fortified Core Bond Fund).

    Picton Mahoney Asset Management announced today that it has declared the June 2025 monthly cash distribution of $0.0020 per unit for the ETF Units of the PICTON Multi-Strategy Alpha Alternative Fund (formerly Picton Mahoney Fortified Alpha Alternative Fund).

    Picton Mahoney Asset Management announced today that it has declared the June 2025 monthly cash distribution of $0.0503 per unit for the ETF units of the PICTON Investment Grade Alternative Fund (formerly Picton Mahoney Fortified Investment Grade Alternative Fund).

    Unitholders of record of the ETF Units, at the close of business on June 20, 2025, will receive a per-unit cash distribution payable on June 30, 2025.

    About Picton Mahoney Asset Management

    Picton Mahoney Asset Management specializes in differentiated investment solutions and rules-based volatility management. Picton Mahoney helps its clients fortify their portfolios based on experience honed over the years through different market cycles and investing environments.

    Founded in 2004 and 100% employee-owned, Picton Mahoney is a portfolio management boutique entrusted with over $14.5 billion (as at May 31, 2025) in assets under management. Pioneers of Authentic Hedge® investment principles and practices in Canada, the firm offers a full suite of investment solutions, including mutual and alternative funds, to institutional and retail investors across the country.

    Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Alternative funds can only be purchased through a registered dealer and are available only in those jurisdictions where they may be lawfully offered for sale.

    For further information please contact:

    Arthur Galloway
    Picton Mahoney Asset Management
    Tel: (416) 955-4108
    Web site: www.pictoninvestments.com
    Email: invest@pictoninvestments.com

    The MIL Network –

  • MIL-OSI: BitMart Unleashes Futures King Trading Tournament: $232,000 USDT Up for Grabs in Summer Showdown

    Source: GlobeNewswire (MIL-OSI)

    Mahe, Seychelles , June 16, 2025 (GLOBE NEWSWIRE) — BitMart, a leading global cryptocurrency exchange, has launched the Futures King Trading Tournament, an electrifying summer event where futures traders have the opportunity to share in a staggering $232,000 USDT prize pool. Running from June 12 to July 9, 2025 (UTC), this trading tournament is set to heat up the crypto scene with daily, weekly, and monthly reward opportunities for traders of all levels.

    Get Rewarded Just for Showing Up – Sunshine Award
    Participants who register and trade at least 1,000 USDT in futures are guaranteed a reward opportunity through the Sunshine Award, with blind box bonuses of up to 100 USDT. With a dedicated prize pool of 50,000 USDT, this is BitMart’s way of welcoming all traders to the competition.

    Leaderboards That Pay – Multiple Paths to Earn Bonuses
    The Futures King Trading Tournament features multiple leaderboard categories designed to reward performance, consistency, and strategy. With generous bonus pools available, traders have several ways to earn throughout the event:

    • Daily Trading Rank: Participants who trade 30,000 USDT or more in a single day can enter the daily leaderboard. Top traders may receive up to 225 USDT per day, with a total of 6,300 USDT distributed over the campaign.
    • Weekly Trading Rank: By reaching a weekly trading volume of 100,000 USDT or more, traders become eligible for the weekly leaderboard rewards. Depending on total activity, the weekly bonus pool can reach as high as 42,000 USDT.
    • Monthly Trading Rank: Those who trade at least 200,000 USDT during the campaign can qualify for monthly rewards. The monthly prize pool may reach up to 68,600 USDT, offering top performers significant bonus potential.
    • Monthly ROI Rank: For traders focused on returns, the ROI leaderboard highlights those with 10,000 USDT in volume and a positive ROI. The top reward opportunities extend up to 5,880 USDT.

    Exclusive Bonus for VIP Climbers
    BitMart is also offering a VIP Tier Upgrade Bonus during the event. Traders who level up their VIP status through futures activity can claim additional rewards of 100–200 USDT bonus, credited as a futures trading bonus.

    How to Join

    1. Head over to the official event page.
    2. Click [Join Now] to register.
    3. Start trading futures — USDT-M, Coin-M, or via Copy Trading — to qualify.

    Participation in this campaign is subject to terms and conditions. Restrictions apply in certain countries and regions.

    About BitMart
    BitMart is the premier global digital asset trading platform. With millions of users worldwide and ranked among the top crypto exchanges on CoinGecko, it currently offers 1,700+ trading pairs with competitive trading fees. Constantly evolving and growing, BitMart is interested in crypto’s potential to drive innovation and promote financial inclusion. To learn more about BitMart, visit their Website, follow their X (Twitter), or join their Telegram for updates, news, and promotions. Download BitMart App to trade anytime, anywhere.

    Disclaimer: Use of BitMart services is entirely at your own risk. All crypto investments, including earnings, are highly speculative in nature and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results. The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.

    The MIL Network –

  • MIL-OSI: Meriwest Credit Union Celebrates Sixth Consecutive Year as 2025 Best Place to Work

    Source: GlobeNewswire (MIL-OSI)

    SILICON VALLEY, Calif., June 16, 2025 (GLOBE NEWSWIRE) — Meriwest Credit Union has been honored as a 2025 Best Place to Work by the San Francisco Business Times and Silicon Valley Business Journal, achieving this distinguished award for the sixth consecutive year. This recognition, made as part of the annual survey conducted by the two publications and based on exceptional employee survey scores, celebrates organizations that excel in creating dynamic, employee-centric cultures.

    Meriwest Credit Union has consistently demonstrated its commitment to building a workplace that champions teamwork, innovation, and employee support. This six-year streak underscores the credit union’s focus on fostering an environment where employees thrive through professional development opportunities, wellness initiatives, and a collaborative spirit.

    “Being recognized as a Best Place to Work for the sixth consecutive year is a tremendous honor,” said Lisa Pesta, President and CEO of Meriwest Credit Union. “This achievement is a testament to the passion and commitment of our exceptional team, whose dedication to our mission continues to make Meriwest a dynamic and rewarding place to build a career.”

    Rooted in its core philosophy of ‘People Helping People,’ Meriwest Credit Union continues to lead the financial services industry by prioritizing employee satisfaction, member-focused solutions, and meaningful community impact. This recognition reinforces Meriwest’s position as a trailblazer in delivering exceptional financial services while nurturing a workplace that inspires excellence.

    Meriwest Credit Union

    Founded in San Jose, California in 1961, Meriwest Credit Union ($2.1B in assets) is among Silicon Valley’s most established financial institutions. Dedicated to delivering advice-based, personal, convenient, and innovative financial services to over 80,000 families and businesses throughout the San Francisco Bay Area and Pima County, Arizona, Meriwest offers a wide array of personal banking, business services, mortgage, and wealth advisory services. Meriwest has been voted one of the ‘Best Credit Unions in Silicon Valley’ in the Mercury News’ Annual ‘Readers’ Choice Awards’ and a “Best Place to Work” by the Silicon Valley Business Journal for the last 5 years in a row. More information can be found at www.meriwest.com.

    Media Contact:
    Jeffrey Zane
    Meriwest Credit Union
    Public Relations
    408-612-1484
    jzane@meriwest.com

    The MIL Network –

  • MIL-OSI United Kingdom: Fire at Scott Street, Perth – update, Monday 16 June

    Source: Scotland – City of Perth

    “Since the fire, Scottish Fire and Rescue, Police Scotland and Council staff have been on site to ensure the safety of the wider public.

    “On Saturday 14 June a structural engineering contractor was brought in to assess the damage caused to the building at 41 Scott Street.

    “Their report outlined devastating damage to the whole building. The structure has been made unsafe and no part of it is salvageable. As things stand, the building is a serious risk to health and safety.

    “Unfortunately, this means that the whole building will require complete demolition. This will be an extremely complex process, and specialist demolition contractor Reigart has been appointed to carry out the task. Preliminary work has already begun on site.

    “The building will require careful demolition from the top, down to ground level and this will take some time to complete. It is estimated that the work could take around 24 weeks, but it is possible that it could be concluded earlier if there are no complications.

    “To allow the work to be carried out safely, pedestrian and traffic access to sections of Scott Street and South Street around the site will remain closed. We appreciate that this will cause continued significant disruption in Perth City Centre, but unfortunately this is unavoidable given the situation we face.”

    Ongoing arrangements

    The closure means that some households who live in blocks very near the site have been asked to move out of their homes while demolition work is carried out to ensure their safety. These people will be provided with alternative suitable housing, as well as any other support they need at this difficult time. To assist with the rehousing effort, the Council is asking any local landlords or AirBnB owners to get in touch with us if they have accommodation that is currently available. They can contact our Housing Team by emailing privatesectoraccess@pkc.gov.uk

    It is hoped some of these people will be able to move back into their homes after 16 weeks, when demolition work has progressed and the building will be of a safe height. People who live in the block directly adjacent to number 41 (number 33) will have to be rehoused for the entire duration of the work.

    Some other households who live further away from the fire site but who still live inside the cordon have been asked to leave their homes for the short-term. We are aiming to allow these people back into their homes soon.

    The Council will support businesses who will be affected by the road closures. We have been speaking to them today to see what arrangements can be put in place to help. This support will continue and develop throughout the duration of the closure. Anyone who needs to speak to our Business Support Team can email businessdevelopment@pkc.gov.uk

    It is hoped that the outer cordon can be reduced in the near future, which would allow some businesses to reopen and some people to return to their homes.

    A new road traffic configuration for Perth city centre is being designed to allow the free flow of traffic as far as we can, and to provide delivery access to premises. We will provide an update with these arrangements.

    Buses will be re-routed, and some temporary stops will be put into the city centre. Signage will be in place so that people know where they can get their bus.

    Councillor Drysdale added: “The people of Perth and local businesses have responded to this sad event with huge compassion and generosity. It has been heartening to see our local community pull together to help people at their time of greatest need.

    “We would appreciate everyone’s ongoing co-operation and understanding as we deal with this difficult situation.

    “We understand that the disruption to the city centre will bring frustrations, but we are committed to completing the work as soon as we can and most importantly, to continue support for the people and businesses who have been directly affected by the fire.

    “I would once again like to pay tribute to our emergency services for their continued excellent response to this incident, as well as to the wide range of Council and Health and Social Care Partnership staff who rose to a significant challenge over the weekend to provide all the support and help that they could. I also want to pass on my sincere gratitude to the staff at Salutation Hotel, who have been superb in working with us to make sure that people affected had the care they needed in the aftermath of the fire.”

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Opening Ceremony of Hospital Authority Hong Kong Breast Milk Bank held (with photos)

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hospital Authority:

         The Hospital Authority (HA) Hong Kong Breast Milk Bank (HKBMB) held its opening ceremony today (June 16), marking a milestone in neonatal care and demonstrating the joint commitment of the Government, the HA and the community to protect the most vulnerable lives and give them a healthy start in life.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Invest Hong Kong fosters mutual engagement through successful delegations to Gulf Cooperation Council region (with photos)

    Source: Hong Kong Government special administrative region

    Invest Hong Kong fosters mutual engagement through successful delegations to Gulf Cooperation Council region
         The delegation comprised leaders from prominent financial services and fintech companies, founded locally, in Mainland China or overseas with operations in Hong Kong. They participated in high-level strategic meetings with senior management of local government organisations, chambers of commerce, sovereign wealth funds, private equity partners and tech incubators, facilitated by InvestHK.

         The Director-General of Investment Promotion at InvestHK, Ms Alpha Lau, said, “In today’s evolving global economy, Hong Kong has showcased its irreplaceable strategic value as a ‘super connector’. Our city’s unique advantage lies in its ability to effectively connect the East with the West and the Global South. At InvestHK, we are continuously strengthening our core role in facilitating business connectivity, with a firm commitment to delivering value-added services to Mainland and overseas companies looking to establish themselves in Hong Kong and expand globally. We recognise opportunities in high-potential markets, such as the GCC region, which are actively diversifying their economies through innovations. By partnering with InvestHK, companies can effectively access these competitive markets with the government support.”   

         Bridging markets and transforming outcomes: turning vision into action

         The Global Head of Financial Services, FinTech & Sustainability at InvestHK, Mr King Leung, added, “Our support for the delegation was very results driven, opening essential government-to-government (G2G) and business-to-business doors for them. Leveraging our in-depth understanding of each participating company, we successfully showcased Hong Kong as an efficient platform for connecting high-quality enterprises, earning broad recognition from local governments, businesses, and investors across the GCC region. This growing collaboration and trust are built on aligning the right expertise, the right people, and the right connectors. Together, we are creating meaningful bridges that transform relationships into tangible business outcomes.”

         Over the past two years, companies such as EvidentGroup, LianLian Global, Lingfeng Capital, OneDegree, 4Paradigm, Libertify and more participated in the delegations. Delegates acknowledged that remarkable results would not have been possible without opportunities and connections provided by the Hong Kong Special Administrative Region (HKSAR) Government.

         For Evident Group, a highlight was an MOU signing with Zand Bank, the UAE’s AI-powered bank, licensed by the Central Bank of the UAE, which Evident first connected with during last year’s delegation visit. The MOU signifies a commitment to develop a strategic collaboration, aimed at delivering innovative alternative investment solutions for Zand Bank’s private wealth clients. The goal is to leverage Evident’s secure, cutting-edge digital market infrastructure to facilitate access to alternative investments such as private equity secondaries, private credit, and tokenised infrastructure. This collaboration pioneers a new model, demonstrating how the digitalisation of private markets enhances Hong Kong’s role in linking global private wealth with unique investment opportunities.

         LianLian Global regards Hong Kong as a key hub for expanding its global ecosystem, particularly in the GCC region. Through InvestHK delegations, it forged key G2G ties, most notably with the Central Bank of the UAE, unlocking strategic opportunities in the region. At the Dubai FinTech Summit, LianLian reached a cooperation agreement with Lulu Money to extend its payment gateway services into Mainland China. Leveraging Hong Kong as a fund hub, it also addressed cross-border trade challenges between China and the Middle East and North Africa region. In one case, LianLian facilitated a procurement and payment solution for a company purchasing electric vehicles from China, streamlining transactions for both buyer and manufacturer.

         Lingfeng Capital has obtained its approved-in-principle from the Financial Services Regulatory Authority as a licensed fund manager in the UAE and established operations in Abu Dhabi as its regional headquarters after identifying opportunities during the first delegation visit last year. This year, Lingfeng Capital is further engaging with key partners and initiating the setup of a fund in Abu Dhabi to support portfolio companies from Hong Kong, Mainland and other international markets expanding into the GCC region.

         OneDegree has been recognised by GCC government officials for its industry-leading digital asset insurance offerings. Following an investment from Dubai Insurance, OneDegree is set to provide digital asset insurance in the UAE, having received approval from the Central Bank of the UAE through partnership with Dubai Insurance Co. In addition, Walaa is supplying reinsurance capital for OneDegree’s global digital asset book. A pivotal milestone was a private meeting with senior management of the Insurance Authority of Kingdom of Saudi Arabia during the delegation visit last year.

         Connecting the East with the West and the Global South

         The 2025 delegation led by InvestHK built on the solid foundation laid by the HKSAR Government officials during earlier trip to focus on driving tangible business results, further solidifying Hong Kong’s position as an outward-facing, globally connected economy. The success of these delegations reaffirms Hong Kong’s position as a “super connector” and “super value-adder” to the world, where innovation and strategic dialogue forge robust pathways for two-way economic growth. With tangible results achieved across sectors, InvestHK continues to empower enterprises to “go global” through Hong Kong. Looking ahead, these achievements will lay the foundation for transformative regional collaborations that will benefit Hong Kong and contribute to national policies supporting global trade and investment, further deepening international exchanges and co-operation.
    Issued at HKT 18:45

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: SBA Relief Still Available to North Carolina Small Businesses and Private Nonprofits Affected by Severe Storms and Flooding

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and most private nonprofit organizations in North Carolina of the July 15 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms and flooding on Sept. 16-20, 2024.

    The disaster declaration covers the North Carolina counties of Brunswick, Columbus, New Hanover, and Pender as well as Horry in South Carolina.  

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses and PNPs providing non-critical services of a governmental nature impacted by financial losses directly related to the disaster. Example of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.

    EIDLs are available for working capital needs caused by the disaster and are available even if the Small Business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    The loan amount can be up to $2 million with interest rates of 4% for small businesses and 3.25% for private nonprofit organizations, and terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to a disaster.

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

    The deadline to return economic injury applications is July 15, 2025.

    ###

    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 or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: Infusion Pump Recall: Zyno Medical Removes Certain Z-800 Series Infusion Pumps due to Software Issue

    Source: US Department of Health and Human Services – 3

    This recall involves removing certain devices from where they are used or sold. The FDA has identified this recall as the most serious type. This device may cause serious injury or death if you continue to use it.
    Affected Product

    Affected Serial Numbers for Z-800 (UDI-DI: 00814377102006)

    800242

    801925

    802867

    900875

    901058

    901089

    901101

    901126

    901143

    901567

    904021

    904073

    800378

    801950

    803020

    900914

    901061

    901090

    901102

    901129

    901145

    901795

    904023

    904083

    801082

    802113

    803268

    900961

    901066

    901091

    901103

    901130

    901230

    904004

    904026

    904087

    801353

    802131

    803526

    900964

    901070

    901092

    901110

    901131

    901240

    904006

    904027

    904093

    801420

    802160

    803768

    901001

    901076

    901093

    901112

    901132

    901241

    904007

    904028

    904094

    801503

    802645

    900029

    901014

    901077

    901094

    901113

    901133

    901244

    904009

    904029

    905077

    801601

    802753

    900035

    901024

    901081

    901095

    901115

    901134

    901245

    904011

    904030

    905162

    801640

    802764

    900051

    901041

    901083

    901096

    901116

    901136

    901246

    904012

    904031

    906681

    801852

    802771

    900115

    901054

    901085

    901097

    901117

    901138

    901249

    904013

    904038

    906692

    801855

    802774

    900133

    901055

    901086

    901098

    901118

    901140

    901250

    904014

    904040

    906693

    801881

    802780

    900147

    901056

    901087

    901099

    901119

    901141

    901252

    904018

    904042

    906716

    801884

    802798

    900569

    901057

    901088

    901100

    901123

    901142

    901255

    904020

    904053

    906720

    906721

     
     
     
     
     

    Affected Serial Numbers for Z-800F (UDI-DI: 00814371020013)

    600091

    600133

    600203

    600259

    600320

    600361

    600404

    600446

    600482

    600526

    600565

    600601

    600094

    600138

    600204

    600261

    600321

    600362

    600406

    600447

    600483

    600528

    600566

    600603

    600095

    600139

    600206

    600262

    600322

    600363

    600407

    600449

    600485

    600529

    600568

    600604

    600099

    600141

    600207

    600263

    600323

    600364

    600408

    600450

    600487

    600531

    600569

    600605

    600100

    600142

    600209

    600265

    600324

    600369

    600410

    600451

    600488

    600532

    600570

    600608

    600102

    600143

    600211

    600266

    600325

    600370

    600411

    600452

    600489

    600533

    600571

    600609

    600104

    600146

    600215

    600267

    600326

    600376

    600412

    600453

    600490

    600535

    600572

    600610

    600105

    600148

    600217

    600268

    600328

    600377

    600414

    600454

    600495

    600536

    600573

    600611

    600106

    600150

    600220

    600270

    600330

    600378

    600415

    600456

    600496

    600539

    600574

    600612

    600108

    600151

    600223

    600271

    600331

    600379

    600416

    600457

    600498

    600540

    600575

    600613

    600109

    600152

    600224

    600289

    600335

    600383

    600417

    600458

    600499

    600541

    600576

    600614

    600110

    600153

    600227

    600292

    600336

    600384

    600418

    600460

    600504

    600542

    600577

    600615

    600111

    600154

    600228

    600294

    600338

    600385

    600419

    600461

    600505

    600543

    600578

    600617

    600112

    600155

    600229

    600295

    600339

    600386

    600422

    600462

    600506

    600545

    600579

    600618

    600113

    600156

    600230

    600297

    600341

    600387

    600423

    600464

    600509

    600546

    600580

    600921

    600114

    600157

    600231

    600298

    600342

    600388

    600424

    600465

    600510

    600549

    600583

    601325

    600115

    600158

    600235

    600299

    600343

    600389

    600425

    600466

    600511

    600551

    600584

    601433

    600116

    600159

    600238

    600300

    600344

    600391

    600427

    600467

    600513

    600553

    600585

    601514

    600118

    600160

    600239

    600301

    600347

    600392

    600430

    600470

    600514

    600554

    600586

    601603

    600120

    600161

    600240

    600302

    600348

    600393

    600431

    600471

    600516

    600555

    600587

    601651

    600121

    600162

    600249

    600303

    600349

    600394

    600432

    600473

    600517

    600556

    600589

    602578

    600122

    600164

    600250

    600304

    600350

    600396

    600436

    600474

    600518

    600557

    600591

    602743

    600126

    600165

    600251

    600305

    600351

    600398

    600437

    600475

    600519

    600558

    600592

    602807

    600127

    600168

    600252

    600306

    600352

    600399

    600438

    600476

    600520

    600559

    600594

    603858

    600129

    600174

    600253

    600308

    600353

    600400

    600440

    600477

    600521

    600560

    600595

    604637

    600130

    600176

    600254

    600309

    600356

    600401

    600442

    600478

    600522

    600562

    600596

    605411

    600131

    600188

    600255

    600310

    600357

    600402

    600443

    600480

    600523

    600563

    600599

    605870

    600132

    600192

    600257

    600319

    600359

    600403

    600445

    600481

    600525

    600564

    600600

    605918

    605964

    606886

    607077

    607891

    608058

    608061

    608612

    613123

    614776

     
     
     

    Affected Serial Numbers for Z-800W (UDI-DI: 00814371020020)

    700063

    700163

    700203

    700402

    700488

    700093

    700169

    700210

    700428

    700495

    700104

    700172

    700214

    700431

    700503

    700111

    700188

    700225

    700440

    700510

    700120

    700189

    700230

    700449

    700513

    700135

    700190

    700285

    700460

    700541

    700145

    700192

    700375

    700471

    700481

    700150

    700195

    700391

    700472

    700397

    700159

    700199

    700393

    700478

    700201

    700162

     
     

    Affected Serial Numbers for Z-800WF (UDI-DI: 00814371020037)

    500004

    500005

    500006

    500810

    500812

    500813

    501748

    503680

    503681

    503682

     
     

    What to Do
    On May 7, 2025 Zyno Medical sent all affected customers an email recommending the following actions:

    Discontinue use of affected devices and follow instructions for the return of the device.
    Check inventory for affected products, verify serial numbers, and confirm product location.
    Report any transferred product and pass this notice to the appropriate personnel who need to be informed if the identified devices have been transferred to another location.
    A representative from Zyno Medical’s partner company, Intuvie LLC, will be in contact with you to coordinate instructions on exchanging devices to remediate this action.

    Reason for Recall
    Zyno Medical stated that certain Z-800, Z-800F, Z-800W and Z-800WF infusion pumps were released to customers with incorrect software versions that had not undergone required verification and validation testing. As a result, these pumps can experience unexpected performance problems, including issues with essential functions and risk measures such as air in line detection, alarm volume, and reverse flow prevention.
    The worst case scenarios of incorrect air in line detection and incorrect audio alarms associated with other failures could result in serious harms such as under- or over-delivery of drugs, air in line that infuses a venous air embolism of up to 1mL, undetected flow reversal of drugs or parenteral fluids, and lowering of the Keep Vein Open (KVO) rate from 5 mL/hr to 1 mL/hr, which can lead to very low KVO flow rates and possibly cause a blood clot to form at the distal end of the catheter, ultimately leading to peripheral IV catheter (PIV) failure.
    At this time, Zyno Medical has not reported any serious injuries or deaths.
    Device Use
    The Zyno Medical Z-800 Infusion System is intended to provide intravenous infusion ofparenteral fluids, blood, and blood products to a patient under the direction or supervision of a physician or other certified health care professional.
    Contact Information
    Customers in the U.S. with adverse reactions, quality problems, or questions about this recall should contact Zyno Medical at feedback@intuvie.com or 508-650-2008.
    Unique Device Identifier (UDI)
    The unique device identifier (UDI) helps identify individual medical devices sold in the United States from distribution to use. The UDI allows for more accurate reporting, reviewing, and analyzing of adverse event reports so that devices can be identified more quickly, and as a result, problems potentially resolved more quickly.

    How do I report a problem?
    Health care professionals and consumers may report adverse reactions or quality problems they experienced using these devices to MedWatch: The FDA Safety Information and Adverse Event Reporting Program.

    Content current as of:
    06/16/2025

    Regulated Product(s)

    MIL OSI USA News –

  • MIL-OSI USA: North Dakota Department of Commerce Releases Comprehensive Workforce Ecosystem Assessment Findings

    Source: US State of North Dakota

    The North Dakota Department of Commerce has released the findings of its North Dakota Workforce Ecosystem Assessment, a comprehensive review of the state’s workforce landscape. Conducted by Deloitte, a global professional services network, the 20-week assessment aimed to understand current programs and services. This report was developed in collaboration with the Workforce Development Council (WDC) and Workforce Innovation and Opportunity Act (WIOA) core partners, including Job Service ND, Vocational Rehabilitation, and Adult Education.

    The assessment gathered insights from a wide range of stakeholders, revealing key themes:

    • Need for Unified Leadership: Stakeholders expressed a desire for more aligned leadership and a clear, central vision to drive statewide workforce outcomes.
    • Access Barriers Despite Strong Partnerships: While relationships within the ecosystem are strong, access to programs often depends on personal connections, leaving many employers and jobseekers unaware of available resources.
    • Increased Need for Wraparound Services: Barriers like childcare, housing, and transportation continue to impact employment readiness, particularly in rural communities.
    • Rural-Urban Disparities: Program access remains more limited in rural areas, placing a greater strain on these communities and their businesses.
    • Labor Market Misalignment: There’s a persistent mismatch between worker interests and employer needs, highlighting a demand for more workers and quicker adaptation of training programs to evolving demands.
    • Funding and Staffing Gaps: Many programs face limitations due to stagnant federal funding and increased demand, hindering innovation and staff retention, especially in rural areas.
    • Data and Knowledge Sharing Challenges: Limited data sharing across programs creates redundant processes for jobseekers and impedes efficient collaboration among partners.

    “This assessment gives us crucial insights into our workforce ecosystem,” said Commerce Deputy Commissioner and Workforce Development Director Katie Ralston Howe. “It clearly outlines where we need to focus our efforts to build a stronger, more responsive workforce for North Dakota.”

    The report also highlighted strengths, including innovative programs like the Regional Workforce Impact Program (RWIP) and Job Placement Pilot Program (JP3), and the strong collaborative spirit among leaders.

    The assessment outlines four key areas for future focus:

    • Strategic Vision: Defining clear goals and roles for ecosystem steering.
    • Customer Focus: Streamlining access and engaging with customer needs.
    • Awareness and Engagement: Enhancing outreach to communities and partners.
    • Information Tracking and Sharing: Improving data collection and sharing for program efficiency.

    Commerce is committed to collaborating with all partners to address these findings and create a more effective workforce system for the state.

    View the full report at https://www.commerce.nd.gov/workforce.

    MIL OSI USA News –