Category: CTF

  • MIL-OSI USA: Eleven Firms to Pay More Than $88 Million Combined to Settle SEC’s Charges for Widespread Recordkeeping Failures

    Source: Securities and Exchange Commission

    One additional firm will not pay a penalty because it self-reported, self-policed, and demonstrated substantial efforts at compliance

    The Securities and Exchange Commission today announced charges against 12 firms, comprising broker-dealers, investment advisers, and one dually-registered broker-dealer and investment adviser, for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications in violation of recordkeeping provisions of the federal securities laws.

    The firms admitted the facts set forth in their respective SEC orders, acknowledged their conduct violated recordkeeping provisions of the federal securities laws, agreed to pay combined civil penalties of $88,225,000 as outlined below, and have begun implementing improvements to their compliance policies and procedures to address these violations. The firms are as follows:

    • Stifel, Nicolaus & Company, Inc. agreed to pay a $35 million penalty;
    • Invesco Distributors, Inc., together with Invesco Advisers, Inc., agreed to pay a $35 million penalty;
    • CIBC World Markets Corp., together with CIBC Private Wealth Advisors, Inc., agreed to pay a $12 million penalty;
    • Glazer Capital, LLC agreed to pay a $2 million penalty;
    • Intesa Sanpaolo IMI Securities Corp., agreed to pay a $1.5 million penalty;
    • Canaccord Genuity LLC agreed to pay a $1.25 million penalty;
    • Regions Securities LLC agreed to pay a $750,000 penalty;
    • Alpaca Securities LLC agreed to pay a $400,000 penalty;
    • Focused Wealth Management, Inc. agreed to pay a $325,000 penalty; and
    • Qatalyst Partners LP will not pay a penalty.

    “Today’s enforcement actions reflect the range of remedies that parties may face for violating the recordkeeping requirements of the federal securities laws. Widespread and longstanding failures, including where those failures potentially hinder the Commission’s investor protection function by compromising a firm’s response to SEC subpoenas, may result in robust civil penalties,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement. “On the other hand, firms that self-report and otherwise cooperate with the SEC’s investigations may receive significantly reduced penalties. Here, despite recordkeeping failures that involved communications by senior leadership and persisted after our first recordkeeping matters were announced in 2021, Qatalyst took substantial steps to comply, self-reported, and remediated and, therefore, received a no-penalty resolution.”

    The SEC’s investigations into all the firms except for Qatalyst uncovered pervasive and longstanding use of unapproved communication methods, known as off-channel communications, at these firms. As described in the SEC’s orders, the firms admitted that during the periods relevant to each order, their personnel sent and received off-channel communications that were records required to be maintained under securities laws. The failure to maintain and preserve required records deprives the SEC of these communications in our investigations. The failures involved personnel at multiple levels of authority, including supervisors and senior managers.

    In contrast, in response to the Commission’s recent off-channel enforcement actions, Qatalyst conducted an internal investigation and uncovered that Qatalyst personnel at various levels of authority sent and received off-channel communications, which Qatalyst did not maintain or preserve, that related to its broker-dealer business. Qatalyst will not pay a penalty because it self-reported its recordkeeping violations, cooperated with the staff’s investigation, and demonstrated substantial efforts at compliance with the recordkeeping requirements. Two additional firms, Canaccord and Regions, also self-reported their violations and, as a result, will pay significantly lower civil penalties than they would have otherwise.

    The firms were each charged with violating certain recordkeeping provisions of the Securities Exchange Act or the Investment Advisers Act or both. In addition, all but one of the firms failed to reasonably supervise their personnel with a view to preventing and detecting those violations. The SEC’s order against Focused Wealth also found that the firm failed to adopt and implement policies and procedures reasonably designed to prevent the firm and its supervised persons from violating recordkeeping requirements.

    Each of the firms was ordered to cease and desist from future violations of the relevant recordkeeping provisions and was censured. Ten of the firms also agreed to retain compliance consultants to, among other things, conduct comprehensive reviews of their policies and procedures relating to the retention of electronic communications found on personal devices and their respective frameworks for addressing non-compliance by their personnel with those policies and procedures.

    Separately, the Commodity Futures Trading Commission announced a settlement with Canadian Imperial Bank of Commerce for related conduct.

    The SEC’s investigations into Stifel, CIBC, Intesa, Canaccord, Alpaca, and Qatalyst were conducted by Laurel S. Fensterstock, Karolina Klyuchnikova, Austin Thompson, and Alison R. Levine. The SEC’s investigation into Focused Wealth was conducted by Bennett Ellenbogen and Michael Paley. Each of these matters was supervised by Thomas P. Smith, Jr. of the New York Regional Office. The SEC’s investigation into Invesco was conducted by Melanie Good, Craig Welter, and Nikolay Vydashenko, and supervised by Corey Schuster of the Enforcement Division’s Asset Management Unit.  The SEC’s investigation into Glazer was conducted by Anne Hancock, Samantha Martin, and Christopher Rogers, and supervised by B. David Fraser of the Fort Worth Regional Office. The investigation into Regions was conducted by Katie D. Krysan and Amy S. Cotter, and supervised by Paul A. Montoya of the Chicago Regional Office.

    MIL OSI USA News

  • MIL-OSI: Traliant Launches Customizable Code of Conduct Training to Drive Ethical Workplace Culture

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 24, 2024 (GLOBE NEWSWIRE) — Traliant, a leader in online compliance training, is proud to unveil its latest Code of Conduct training solutions, uniquely designed to bring a company’s ethical policies to life to build a culture of integrity where employees don’t just follow the rules — they live by them.

    Traliant’s Code of Conduct training is powerful in its flexibility to be tailored to the unique needs of any organization. With customizable content, businesses can incorporate their specific policies and real-world scenarios, making the training not only more relevant but also more engaging for employees. By understanding ethical challenges they might face, employees gain confidence and clarity to make informed decisions that align with their company’s values. This immersive approach helps reduce ethical risks and drives a stronger, more accountable workplace culture.

    “HR and compliance professionals know that fostering an ethical workplace isn’t just about checking a compliance box,” said Michael Johnson, Chief Strategy Officer at Traliant. “It’s about giving employees the tools to understand and internalize the company’s code, so they feel empowered to make the right decisions every day. Our new training fuels that mission, turning ethics into something actionable and meaningful.”

    For federal contractors, Traliant’s Code of Conduct FAR training covers essential Federal Acquisition Regulations principles that must be addressed within their code of business ethics and conduct. Again, Traliant’s flexible course design allows companies to quickly and easily customize content to make it more relatable for enhanced learning and retention.

    Supported by an in-house team of legal experts, Traliant training is accurate and up to date to ensure businesses meet today’s workplace challenges and compliance requirements. To learn more about Traliant, visit: https://www.traliant.com/.

    About Traliant
    Traliant combines in-house legal expertise with modern, emotionally engaging course design to redefine compliance, training experiences and services. It helps thousands of organizations create a culture of ethics, inclusion and safety by addressing dozens of critical topics including sexual harassment trainingDEI training and code of conduct training. Traliant’s innovative and interactive approach to learning can be easily customized into affordable and cost-effective solutions for clients to address their industry, branding, policies, risks and job-specific needs. Backed by PSG, a leading growth equity firm, Traliant is ranked on Inc.’s 2021, 2022, 2023 and 2024 lists of 5000 fastest-growing private companies in America and named to Inc.’s 2023 list of Best Workplaces. For more information, visit http://www.traliant.com and follow us on LinkedIn

    Contact
    Reagan Bennet
    traliant@v2comms.com

    The MIL Network

  • MIL-OSI: LPL Financial Welcomes 57th Street Wealth Advisors to Linsco Channel

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Sept. 24, 2024 (GLOBE NEWSWIRE) — LPL Financial LLC, announced today that financial advisors Ken Hutkin and Ron Winkler have joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch 57th Street Wealth Advisors. They reported serving approximately $400 million in advisory, brokerage and retirement plan assets* and join LPL from Wedbush Securities. They will operate the first Linsco office in New York City.

    Hutkin brings more than 30 years of experience as a business owner and entrepreneur to the partnership. He prides himself on understanding the unique challenges faced by professionals and business owners, which gives him the ability to design custom-tailored strategies and financial plans. Winkler has spent nearly 40 years of his career as the founder and managing partner of Winkler & Co. CPAs, a tax and financial planning firm. Like Hutkin, Winkler’s passion for business and entrepreneurship drove his successful small business and ability to find approaches to even the toughest of clients’ financial challenges.

    Together, the advisors aim to guide their clients through every step of their financial lives through attentive, personalized service and clear actionable plans. The 57th team also includes licensed Client Services Associate Margarita “Margie” Santiago and wealth associates Nathan Wild and Noah Hutkin.

    “What makes our team distinctive and brings us the most pride is our commitment to both the execution of strategies and our service model,” Winkler said. “We are a process-driven, holistic multi-generational financial planning and asset management team, and we strive to offer exceptional service as we deliver tax-sensitive investment strategies and comprehensive wealth management.”

    Looking to operate with greater autonomy while also evolving their practice, 57th Street Wealth Advisors turned to Linsco by LPL Financial.

    The Linsco employee advisor model serves financial advisors seeking the core tenets of independence, including owning their client relationships and having the flexibility to run their practice on their own terms. With Linsco, advisors have access to LPL’s integrated wealth management platform and robust business resources, along with the additional benefits of having support from an experienced branch management team and other dedicated consultants.

    “We are truly setting up our practice for the future — both for our clients and legacy,” Hutkin said. “LPL is a recognized name in the industry with flexibility, scale and continued investment in resources, which can help us grow our team and ensure business continuity in the years to come. We are also excited for clients to have a successful and streamlined experience with LPL. We look forward to all the new opportunities ahead.”

    Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Ken, Ron and the entire 57th Street Wealth Advisors team to the LPL community. Through Linsco, advisors are empowered and have greater autonomy and flexibility to grow their practice on their terms. LPL’s integrated wealth management platform, robust business resources and support from our experienced branch management team and dedicated consultants can help them take their successful businesses to the next level. We look forward to supporting the 57th Street Wealth Advisors team as they continue to grow and serve their clients.”

    Related

    Advisors, learn how LPL Financial can help take your business to the next level.

    About LPL Financial

    LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.

    Securities and Advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States.

    Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

    LPL Financial does not offer tax advice or tax preparation services.

    We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

    *Value approximated based on asset and holding details provided to LPL from end of year, 2023.

    Media Contact:
    Media.relations@LPLFinancial.com
    (704) 996-1840

    Tracking #631234

    The MIL Network

  • MIL-OSI USA: A Catalyst: Statement on Qatalyst Partners LP

    Source: Securities and Exchange Commission

    Over the last several years, off-channel communications cases have become more prevalent on the Commission’s enforcement docket. We have struggled with these cases. While we supported many of them initially, it was not without deep reservations. Recently, we have objected to the penalties and undertakings in most of these cases. Today’s case against Qatalyst Partners LP[1] illustrates and confirms the reason for our reservations: it does not appear that firms have an achievable path to compliance. Accordingly, we voted no on Qatalyst Partners LP, and urge our colleagues to reconsider our current approach to the off-channel communications issue.

    Recordkeeping by regulated entities is important. The Commission needs to be able to enforce its rules. To do that, it needs access to records about firms’ activities. Firms that are serious about complying with our rules also need access to records about their business activities. If business is being conducted using communications means that are outside of the reach of firm compliance personnel and Commission staff, both will be hampered in their ability to foster compliance with the rules. The off-channel communications cases arise from a legitimate concern that the compliance efforts both of firm compliance personnel and of Commission staff are impeded by improper recordkeeping practices. As the Commission’s Order in the first of these cases stated:

    The federal securities laws impose recordkeeping requirements on broker-dealers to ensure that they responsibly discharge their crucial role in our markets. The Commission has long said that compliance with these requirements is essential to investor protection and the Commission’s efforts to further its mandate of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation.

    [2]

    That first case involved a “widespread failure to implement” recordkeeping policies that “was not hidden within the firm,” “was firm-wide, and involved employees at all levels of authority,” and “impacted the Commission’s ability to carry out its regulatory functions and investigate potential violations of the federal securities laws across these investigations.”

    Many other cases have followed. The use of off-channel communications—text messages, smartphone chat applications like WhatsApp, and personal email outside firm-approved systems—is prevalent across the securities industry. We have an industry-wide problem that we will not solve through enforcement.

    Today’s action against Qatalyst illustrates why we cannot enforce our way to compliance. Under the standard applied in this case, even well-intentioned firms could find themselves in the Commission’s enforcement queue time and again. Qatalyst has been working to address the off-channel issue for at least sixteen years. The Commission’s Order outlines some of the firm’s efforts:

    As early as 2008, Qatalyst personnel were advised that the use of unapproved electronic communications methods, including on their personal devices, was not permitted, and they should not use personal email, chats or text messaging applications for business purposes, or forward work-related communications to unapproved applications on their personal devices. Qatalyst reinforced its policies at least annually with regular, mandatory training and reinforcement from compliance and senior management. Qatalyst personnel were specifically advised not to list personal phone numbers in email signatures.

    Then, “beginning in March 2017, Qatalyst provided its personnel with a compliant text-messaging process that could retain business communications” and “instructed its personnel to use only this process to communicate about Qatalyst’s broker-dealer business by text message.” “Beginning in 2020, Qatalyst required all personnel to have a firm-issued device on which to conduct Qatalyst business, and encouraged personnel to use firm-issued devices when communicating with both business and personal contacts.” Further updates to capture Slack and LinkedIn messages came in 2020 and 2022. Qatalyst trained its employees, monitored communications sent through firm-approved communication methods, and disciplined employees who violated the firm’s policies. Even with all that, Qatalyst violated the recordkeeping requirements: “Qatalyst collected data from a sampling of broker-dealer personnel and found that . . . several broker-dealer personnel, including at senior levels, had engaged in off-channel communications that concerned the broker-dealer’s business as such.” At the end of the day, despite Qatalyst’s compliance efforts, the Commission’s order states that:

    Qatalyst . . . failed to implement a system reasonably expected to determine whether all personnel, including supervisors, were following Qatalyst’s policies and procedures. While permitting personnel to use approved communications methods, including on personal phones, for business communications, Qatalyst failed to implement sufficient monitoring to ensure that its recordkeeping and communications policies and procedures were always being followed.” (Emphasis added.)

    This statement sounds to us like one that equates reasonableness with perfection. If we assess reasonableness based on whether policies and procedures always are being followed, firms will never escape our enforcement net. People are not perfect and so compliance will not be perfect—even at a firm that tries as hard as Qatalyst. Firing up our enforcement machinery every couple years to haul the industry in for headline-making penalties will not make people perfect, so firms will continue to discover violations of firm policies. We cannot enforce to perfection, but there is a way to achieve better compliance.

    This case should serve as a catalyst for the Commission. We need to work with the industry and other interested members of the public to develop a pragmatic and privacy-respecting approach that enables firms and the Commission to have the records they need for compliance, examination, and enforcement at a reasonable cost in both financial and privacy terms. As we have this conversation, we ought to bear several points in mind:

    • The existing recordkeeping rules are a product of simpler times. The ways in which people communicate have multiplied, and the percentage of communications that are written has risen so firms have more avenues to monitor. Paper documents have given way to e-mail, which has given way to text messages, which have given way to app-based chats. This technological progression poses unique challenges and opportunities in terms of recordkeeping.
      • How can we modernize the recordkeeping rules to deal with the recordkeeping challenges of the new technology and accompanying shifts in the communication habits of people?  How do we identify and take advantage of aspects of these changes that facilitate recordkeeping?
    • Oral conversations that would not have been captured by recordkeeping rules in the past are now written conversations that are captured. One needs only observe a couple teenagers sitting in a room together who are texting one another rather than talking to each other to realize that texts have taken the place of what would have been oral communications in the past. This shift of communication from verbal to written intensified during the pandemic when colleagues that used to sit next to one another retreated to their own homes.
      • Should we revisit the recordkeeping rules so that they do not capture the modern-day equivalent of oral chatter?
    • Client service imperatives drive how firms communicate with their clients. A client of an investment adviser who is also her neighbor wants to be able to send her a WhatsApp message when she needs advice on her investment portfolio, just as she does when she wants advice on her garden. Firms have made a lot of progress on developing tools that allow their employees to capture the business-related messages for recordkeeping purposes.
      • How can we help firms as they think about seamless ways to accommodate client communication preferences and still meet recordkeeping obligations?
      • Issuing firm phones is an expensive option. What are best practices for firms that do not have the budget to issue phones or whose employees prefer not to have a work phone?
    • Firms and their employees have questions about what types of communications are covered by the rules. Certain messages are clearly covered by the rules, but others are not so clear. The lack of clarity stems in part—but not entirely—from the different scope of the recordkeeping rules for various types of firms.[3]
      • What can the Commission do to provide clarity on the requirements under the existing rules?
      • Is the scope of the current rules appropriate?
      • Once we settle on the scope, how can firms effectively train their employees about what needs to be preserved for recordkeeping purposes?
    • Ensuring that employees abide by firm policies implicates privacy concerns. A firm can write excellent policies and procedures that prohibit the use of off-channel communications but ensuring that everybody complies with them is difficult. We see this in enforcement cases like Qatalyst, where the firm had a great set of policies and procedures, but some employees did not comply. Any firm surveillance system has to achieve record retention without subjecting employees’ personal means of communication to constant surveillance. Doing so is offensive to employees’ privacy and may have legal implications in some jurisdictions. Firms have developed ways, such as monitoring on-channel communications for indications that other communications are happening off-channel and only then looking at employees’ personal phones and emails. Firms also have disciplined employees found to be in violation of the policies, which sends a message that such conduct is not tolerated.
      • What are best practices for training employees and ensuring compliance with off-channel communications policies and procedures?
      • What are best practices for monitoring compliance with off-channel communication prohibitions?
      • How do the securities recordkeeping rules interact with other laws, such as employment or privacy laws?
    • Input from compliance personnel is essential. To develop workable, effective policies, we need to hear from the people who write, implement, and oversee these policies. This issue would be a perfect one to put in front of a Chief Compliance Officer Advisory committee. Compliance personnel understand the importance of maintaining good records, the difficulty of doing so, and have real-world experience in weighing the sometimes-conflicting interests of firms, clients, and employees.
      • What would an effective Chief Compliance Officer Advisory Committee look like?

    The issues laid out above are only a few of the many that deserve discussion outside of the enforcement context. We look forward to working with our colleagues at the Commission and interested members of the public on a more productive path forward.


    [3] See, e.g., Exchange Act Rule 15Ba1-8, 17 C.F.R. § 240.15Ba1-8 (recordkeeping requirements for municipal advisers); Exchange Act Rule 17a-4, 17 C.F.R. § 240.17a-4 (recordkeeping requirements for exchanges, brokers, and dealers); Exchange Act Rule 17g-2, 17 C.F.R. § 240.17g-2 (recordkeeping requirements for nationally recognized statistical rating organizations); Investment Advisers Act Rule 204-2, 17 C.F.R. § 275.204-2 (recordkeeping requirements for investment advisers); Investment Company Act Rule 31a-1 through 4, 17 C.F.R. § 270.31a-1 through 4 (recordkeeping requirements for certain investment companies).

    MIL OSI USA News

  • MIL-OSI: Vickery Energy Partners Announces Partnership with Quantum Capital Group

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON and FORT WORTH, Texas, Sept. 24, 2024 (GLOBE NEWSWIRE) — Quantum Capital Group (“Quantum”) and Vickery Energy Partners, LLC (“Vickery” or the “Company”) today announced the formation of Vickery with equity capital commitments from Quantum and employees of the Company. Based in Fort Worth, Texas, Vickery will pursue the acquisition and development of oil and gas assets across North America, with an initial focus on the Appalachian Basin.

    Vickery is led by former executives of Tug Hill, including Sean Willis as President and Chief Executive Officer and Daniel Rowe as Chief Financial Officer. In August of 2023, Quantum sold Tug Hill and XcL Midstream’s portfolio of upstream and midstream assets located in the Appalachian Basin to EQT Corporation for a total consideration of approximately $5.0 billion.   

    Mr. Willis said, “We look forward to building another outstanding business with Quantum, and we are excited to have a partner that has demonstrated such a steadfast commitment to the responsible production of the energy resources required to power our world. We believe the strength of our Quantum partnership and Vickery’s proven operating capabilities will enable us to pursue opportunities of scale and execute a responsible development program to create significant value for our investors.”

    “We are pleased to partner with Sean, Daniel, and the broader Vickery team,” said Tom Field, Partner at Quantum. “We have worked with this management team for many years, and they have proven to be exceptional entrepreneurs, high-quality operators, responsible stewards of assets, and great partners.”

    Rob Meister, Managing Director at Quantum, added, “The Vickery team has an impressive track record of value creation across upstream, midstream, and mineral assets. We believe the current environment presents an attractive opportunity to acquire and develop assets in the resource-rich Appalachian Basin.”

    About Vickery Energy Partners
    Based in Fort Worth, Texas, Vickery is focused on the acquisition and development of oil and gas properties in the Appalachian Basin, with an emphasis on the southwestern tri-state region of the basin. Since 2014 the Vickery team successfully acquired, developed, and operated upstream, midstream, and mineral assets in the Appalachian Basin, during which time it has successfully formed and monetized multiple partnerships. For more information on Vickery, please visit www.VickeryEnergy.com.

    About Quantum Capital Group
    Founded in 1998, Quantum is a leading provider of private equity, credit, and venture capital to the global energy and energy transition industry, having managed together with its affiliates more than $27 billion in equity commitments since inception. For more information on Quantum, please visit www.quantumcap.com.

    Contacts
    Kate Thompson / Erik Carlson / Madeline Jones
    Joele Frank, Wilkinson Brimmer Katcher
    212-355-4449

    The MIL Network

  • MIL-OSI: Michael Tiagwad Selected as Most Admired CEO

    Source: GlobeNewswire (MIL-OSI)

    CAMDEN, N.J., Sept. 24, 2024 (GLOBE NEWSWIRE) — Conner Strong & Buckelew, a leading insurance, risk management and employee benefits brokerage and consulting firm, is pleased to announce that President and Chief Executive Officer, Mike Tiagwad has been named one of Philadelphia Business Journal’s 2024 Most Admired CEOs. This honor is awarded to leaders in the region who have demonstrated exceptional business vision and organizational effectiveness while also making a positive impact in the community.

    Under Mike’s visionary leadership Conner Strong & Buckelew has grown from a successful regional firm to one of the largest, most admired brokerage and employee benefits consulting firms in the country serving clients nationwide and abroad.

    “The organization’s sustained success since Mike joined the firm in 2005 is a testament to the service-oriented structure and consultative approach he has created. He has elevated our ability to do more for our clients by spearheading investments in key areas like safety, risk management, data analytics, pharmacy services and claims advocacy,” said John Muscella, Executive Partner, Chief Financial Officer at Conner Strong & Buckelew. “By creating a client-centric business model focused on partnering with clients to ensure the best possible results, Mike has been instrumental in our ability to achieve a client retention rate near 99% and a Net Promoter Score among the highest in the industry.”

    Creating Careers and a Unique Culture

    Along with his team, Mike’s leadership has fostered a unique corporate culture of employee respect and empowerment that prioritizes professional development and mentoring and also promoting from within. A big believer in nurturing young talent, under Mike’s leadership, the organization has also built a nationally recognized internship program that has created a continual pipeline of talent to enter the insurance industry.

    “Mike’s passion for attracting young people to the business and setting the stage for all employees to build lifelong careers here is reflected in our numbers. Today, 36 Conner Strong & Buckelew employees who started as interns are full time employees, including five who are partners. We have an impressive 97% employee retention rate and 69 employees that have been with the company for over 20 years,” commented Alexis Wolfson, Senior Partner, Chief Human Resources Officer at Conner Strong & Buckelew. “With Mike’s support we have also been able to build a long-term Diversity, Equity, Inclusion and Accessibility (DEIA) strategy that shatters DEIA program stereotypes and aligns with the company’s business objectives.”

    Philanthropic Work

    Beyond encouraging a company culture of giving that has translated to thousands of volunteer hours and donations to hundreds of worthy organizations, Mike has been a personal champion of helping individuals and families struggling with addiction. He created the annual Deb Tiagwad Memorial Golf Outing with all proceeds going to support Caron Treatment Centers, a nonprofit, comprehensive addiction treatment and behavioral health organization. To date, the event has raised over $1 million to provide scholarships for individuals to participate in a year-long, post-treatment recovery program.

    When asked about being named one of the most admired CEOs, Mike said, “It is quite an honor, but the recognition goes to my colleagues at Conner Strong & Buckelew. Together as a team, we have achieved great success and that is a credit to all our employees.”

    From his business acumen to his approach to corporate culture to his charitable endeavors, Mike Tiagwad is certainly a leader to be admired. We congratulate him along with all of the Philadelphia Business Journal’s 2024 Most Admired CEO Honorees.

    About Conner Strong & Buckelew

    Founded in 1959, Conner Strong & Buckelew is a privately held firm headquartered in Camden, NJ. An industry leader in providing complex businesses with comprehensive consulting and brokerage solutions for commercial insurance and employee benefits, we have unique resources and expertise in a variety of areas, including captive and alternative risk solutions, owner and contractor-controlled insurance programs, risk control services, claims advocacy and consulting, population health, data analytics, benefit consortiums and technology-driven solutions.

    Since 2021 we have been an autonomously operated member of BroadStreet Partners, an insurance brokerage holding company that invests in high-performing independent agencies using a unique co-ownership business model. Collectively with BroadStreet Partners, we are among the 15 largest insurance brokerage, risk management and employee benefits consulting firms in the United States, serving clients throughout North America and abroad.

    Conner Strong & Buckelew, National Headquarters, TRIAD1828 CENTRE, 2 Cooper Street, Camden, NJ 08102

    For more information, visit www.connerstrong.com or follow us on LinkedIn (@ConnerStrong&Buckelew), Facebook (@connerstrongbuckelew) and Instagram (@connerstrongbuckelew)

    Media Contact
    ALEX DALGLIESH
    adalgliesh@gobraithwaite.com

    The MIL Network

  • MIL-OSI: Mashgin Welcomes Peter Atkin as CRO and Eric Meyerson as VP Marketing to Help Build the Future of Checkout

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, Calif., Sept. 24, 2024 (GLOBE NEWSWIRE) — Peter Atkin had just finished a phone call with a recruiter from Mashgin, creator and developer of transformative computer vision technologies, when he first encountered a Mashgin checkout kiosk himself at a concert in Las Vegas.

    “Using the Mashgin kiosk was amazing,” Atkin said. “I just put my snack and drink on the tray, and it instantly recognized everything and accepted my payment in seconds. I was quickly back in my seat, which is where I wanted to be.”

    The timing of the phone call was fortuitous for Atkin.

    “My wife says waiting in line is my least favorite thing in the world,” he said. “But working with technologies with a visible, real-world impact is one of my favorite things. I knew I had to talk with Mashgin again.”

    Mashgin today announced the arrival of two new executives to drive and support the company’s rapid growth. In addition to Atkin, who joined as Chief Revenue Officer, Eric Meyerson has signed on as Vice President of Marketing. Both bring extensive technology leadership experience to scale Mashgin’s business across key markets.

    Customers are using Mashgin’s computer-vision checkout kiosks in more than 4,000 locations where minimizing wait time is crucial, including airports, convenience stores, universities, and more than 110 major sports stadiums. Mashgin’s solution reduces transaction times by 55%-78%, eliminating lines even during rush periods.

    Atkin brings a track record of building high-performing teams and driving revenue growth from Samsara, the leader in physical operations technology, and Cisco Meraki, a top developer of enterprise networking technologies. Atkin helped extend their technologies to thousands of customers, and billions in sales. His expertise will help expand Mashgin’s reach and deepen relationships with key partners across the retail, hospitality, and entertainment industries.

    “The Mashgin team has built a product that feels like magic to customers,” Atkin said. “I’m excited to help shape the next phase of growth as we expand the benefits of our technology to more people.”

    For Meyerson, his interest in speeding up checkouts came at a 2021 playoff game between his hometown San Francisco Giants and the Los Angeles Dodgers. Although the teams were rivals for a century, they had never faced each other in the postseason.

    “I missed most of a pivotal inning just trying to buy burgers and drinks for my kid and me,” Meyerson said. “The stadium had hired more temporary workers for the sold-out game, but that meant nobody knew what they were doing. Each transaction took several minutes to complete, and the fans were all agitated and frustrated. One of them almost took a swing at another. Nobody had come to this playoff game just to stand around on the concourse.”

    He was at a different ballpark, T-Mobile Park in Seattle, this summer when he first experienced a Mashgin kiosk, purchasing a bag of peanuts and a beer in seconds. He was sold, too. Soon thereafter, he signed on to lead the marketing function for the company.

    Meyerson brings recent hardware marketing experience, leading the team at Turntide Technologies, a developer of climate tech technologies for vehicles and buildings. His previous wins include launching video advertising at YouTube and building out consumer experiential marketing at Eventbrite.

    “It’s really exciting to join Mashgin at this point in the company’s lifecycle,” Meyerson said. “Mashgin is already successful and profitable, but they’ve just scratched the surface of their growth potential and the many applications of their patented technologies. It has the ingredients to become one of the most powerful brands in the American technology space.”

    Mashgin CEO Abhinai Srivastava said, “Mashgin has come a long way in its nine years, from a lab prototype to a technology solution that’s accelerating millions of sales a day at thousands of locations. Attracting leaders of Pete’s and Eric’s caliber is a strong validation of the success we’ve already had in our markets and the massive potential we can unlock.”

    About Mashgin
    Mashgin is the world’s fastest checkout system, powered by AI and computer vision. By eliminating barcode scanning, Mashgin allows customers to simply place items on the tray, pay, and be on their way in under 10 seconds. With checkout speeds up to four times faster than traditional systems, Mashgin not only enhances customer satisfaction but also boosts revenue for retailers by reducing wait times and streamlining operations. Founded in 2014 and headquartered in Palo Alto, California, Mashgin is a privately held company backed by NEA, Matrix Partners, Susa Ventures, and Y Combinator. Follow Mashgin on LinkedIn or learn more about Mashgin at www.mashgin.com.

    press@mashgin.com

    The MIL Network

  • MIL-OSI: GCM Grosvenor’s Infrastructure Advantage Strategy Acquires Equity Interest in Brookfield’s Shepherds Flat

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Sept. 24, 2024 (GLOBE NEWSWIRE) — GCM Grosvenor (NASDAQ: GCMG), a leading global alternative asset management firm, today announced that its Infrastructure Advantage Strategy has acquired a 25% equity interest in Shepherds Flat (the “Transaction”), the largest repowered wind farm in North America, from Brookfield Asset Management (NYSE: BAM, TSX: BAM) and its institutional partners, including its listed affiliate Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC) (“Brookfield”).

    Shepherds Flat, located in north central Oregon, is a fully contracted 338-turbine wind farm with a nameplate capacity of 845 MW. The wind farm produces in excess of 2,000 GWh of electricity annually, which is enough to power ~185,000 average U.S. households and is fully supported by a long-term contract with a large-scale utility.

    “We believe Shepherds Flat presents a rare opportunity to invest in a high-quality, hard-to-replicate, sustainable infrastructure asset alongside an experienced owner, operator, and developer of clean power,” said GCM Grosvenor Managing Director Matt Rinklin. “The Infrastructure Advantage Strategy is pleased to invest in contracted renewable power generation in the Pacific Northwest energy market. We are confident we can deliver long-term value to our investors through this strategic acquisition.”

    Brookfield Renewable, a global platform for renewable power and decarbonization solutions, acquired Shepherds Flat in 2021. A comprehensive repowering which materially increased the wind farm’s generation capacity was performed under Brookfield Renewable’s ownership, enhancing the plant’s operational efficiency and substantially extending its lifespan.

    “We are excited to partner with GCM Grosvenor while maintaining exposure to this high-quality asset that provides essential clean energy to customers throughout the Pacific Northwest. We continue to see opportunities to further enhance value at Shepherds Flat and are thrilled to be working with GCM,” said Jeh Vevaina, Managing Partner, Brookfield Asset Management.

    GCM Grosvenor’s investment in Shepherds Flat was completed through its Infrastructure Advantage Strategy, which seeks to generate high-quality risk adjusted returns through alignment with key stakeholders, including union labor. As part of the transaction, the Shepherds Flat partnership has adopted a Responsible Contractor Policy which will apply to any material construction work at the site.

    Thorndike Landing LLC acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor on the transaction for GCM Grosvenor. BMO and Wells Fargo acted as financial advisor and King & Spalding LLP acted as legal advisor on the transaction for Brookfield.

    About GCM Grosvenor

    GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $79 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. GCM Grosvenor’s experienced team of approximately 540 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: gcmgrosvenor.com.

    About Brookfield Asset Management

    Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with approximately $1 trillion of assets under management. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

    Brookfield operates Brookfield Renewable Partners (NYSE: BEP, TSX: BEP), one of the world’s largest publicly traded platforms for renewable power and sustainable solutions. Our renewable power portfolio totals over 34,000 megawatts and our development pipeline stands at approximately 200,000 megawatts. Our portfolio of sustainable solutions assets includes our investments in Westinghouse (a leading global nuclear services business) and a utility and independent power producer with operations in the Caribbean and Latin America, as well as both operating assets and a development pipeline of carbon capture and storage capacity, agricultural renewable natural gas and materials recycling.

    Media Contacts:

    GCM Grosvenor
    Tom Johnson and Abigail Ruck
    H/Advisors Abernathy on behalf of GCM Grosvenor
    tom.johnson@h-advisors.global / abigail.ruck@h-advisors.global
    212-371-5999

    Brookfield

    Simon Maine
    Managing Director – Communications
    +44 (0)7398 909 278
    simon.maine@brookfield.com

    The MIL Network

  • MIL-OSI: Cangrade Introduces AI Copilot Jules, Empowering HR Leaders to Make Stronger Talent Decisions with Generative AI

    Source: GlobeNewswire (MIL-OSI)

    WATERTOWN, Mass., Sept. 24, 2024 (GLOBE NEWSWIRE) — Cangrade today introduced Jules—its transformative, new AI Copilot created to help HR professionals make more strategic, data-backed talent decisions. Jules leverages intelligence from Cangrade’s talent assessment to answer important questions and uncover insights about everything from hiring and employee growth and development, to personal motivators and strategies for improvement.

    Jules was born from Cangrade’s informative assessment in conjunction with its powerful, patented Generative AI capabilities. With the goal of both improving and streamlining talent decisions, HR professionals and hiring managers can now ask questions that range from simple to complex and receive insightful, contextually relevant guidance based on a person’s personality profiles. Whether it’s the best way to communicate with a peer, finding the right tone or approach to deal with a challenging situation, or writing the most competitive offer letter, Jules can help.

    Cangrade customers are already using Jules to:

    • Make talent intelligence actionable
    • Maximize data-driven decision-making across their organization
    • Upgrade predictions of candidate performance
    • Navigate work situations with thoughtful guidance
    • Improve employee engagement, retention, and mobility
    • Optimize performance and ROI with tailored talent management

    What sets Jules apart from other solutions is not simply its ability to maximize talent intelligence, but that the advice it generates is on par with a high-level I/O psychologist. While deep, personal familiarity with the employee or candidate in question is something critical to making better talent decisions, most organizations don’t have access or time to hire a fully dedicated staff member to oversee this. With Jules, you don’t need one—you can create individualized performance plans and communications with the data you already have.

    “For years, organizations have conducted workshops, trainings, and deployed different tools and technologies to profile team members in hopes of creating a better work environment. Very rarely do these approaches achieve the desired results—until now,” said Gershon Goren, founder and CEO, Cangrade. “Jules is like a world-class, AI-powered I/O psychologist ready to help HR professionals build a dynamic workforce equipped for the future.”

    To further Cangrade’s mission of leveling the playing field for job seekers, the company will be announcing new AI features in the coming months. Available to any user, Jules will offer helpful insights for those just entering the job market, to those looking to advance their careers.

    For more information about Cangrade’s AI-powered, bias-free hiring and talent management solutions, visit www.cangrade.com.

    About Cangrade
    For HR leaders, Cangrade is the bias-free, AI- powered talent intelligence platform. By integrating data into talent acquisition and management processes, Cangrade enables businesses to make strategic and efficient decisions from initial screening through the entire employee lifecycle. Delivering 10x more accurate predictions of talent success and retention than traditional methods, the company’s Pre-Hire Assessment has helped organizations like Wayfair, FDNY, Lamar Advertising, and Applied Industrial Technologies make the right hiring decisions for over 10 million candidates and counting. For more information, visit www.cangrade.com.

    Media Contact:
    Gina Devine
    Public Relations
    press@cangrade.com

    The MIL Network

  • MIL-OSI: Devo Named a Leader in 2024 IDC MarketScape Worldwide SIEM for Enterprise

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, Sept. 24, 2024 (GLOBE NEWSWIRE) — Devo Technology, the security data analytics company, today announced that it has been recognized as a Leader in the IDC MarketScape Worldwide SIEM for Enterprise 2024 Vendor Assessment (IDC #US52525024, August 2024).

    The IDC MarketScape recognized Devo for the following strengths:

    • Customers like Devo’s three-tier product packaging, which is easy to comprehend.
    • Pricing is based on ingest and includes 400 days of hot storage.
    • Devo’s platform can ingest all data customers send instead of dropping logs when the platform does not recognize the log, which is helpful for organizations with custom applications.

    “Devo gives customers customizable options that can scale with their unique needs,” said Michelle Abraham, senior research director, security and trust, for IDC. “Their ability to ingest all data also offers flexibility to include data from custom applications, delivering a more comprehensive view of a customer’s security picture.”

    The AI embedded throughout the Devo Security Data Platform also contributed to its position as a Leader. Devo ThreatLink™, a centralized and automated case management solution, enriches alerts to offer more context, prioritizes cases, and includes quick actions without running a full playbook. Additionally, Devo DeepTrace automates threat hunting and investigation with attack-tracing AI to enable customers to scale investigations with limited resources.

    “The growing complexity of modern threat actors, massive data volumes, alert fatigue, and a shortage of skilled professionals make it increasingly difficult for security analysts to manage threats effectively,” said Rakesh Nair, SVP of product & engineering at Devo. “We believe Devo’s position in the 2024 IDC MarketScape Worldwide SIEM for Enterprise underscores the growing demand for supporting analyst work with AI-driven security operations tools to improve efficiency.”

    The IDC Worldwide SIEM Market Shares, 2023 (IDC #US52525024, August 2024) noted that Devo’s share of the $6.2 billion SIEM market grew by 21.7% between 2022 and 2023. The report also cited Devo’s July 2024 announcement of its Data Orchestration capability as a notable event that shaped the SIEM market. The new add-on feature enables customers to filter and route data from any source to Devo and third-party data stores, ensuring the most valuable data is available for real-time analysis.

    Read the excerpt here.

    About Devo

    Devo Technology replaces traditional SIEMs with a real-time security data platform. Devo’s integrated platform serves as the foundation of your security operations and includes data-powered SIEM, SOAR, and UEBA. AI and intelligent automation help your SOC work faster and smarter so you can make the right decisions in real time. Headquartered in Boston, Massachusetts, with operations in North America, Europe, and Asia Pacific, Devo is backed by Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, Kibo Ventures and Eurazeo.

    About IDC MarketScape

    IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.

    Jackie Blundell
    Marketing Communications Director
    jackie.blundell@devo.com 

    The MIL Network

  • MIL-OSI: 7-Eleven, Inc. Partners with Comdata to Enhance Fuel Savings and Services for Fleets

    Source: GlobeNewswire (MIL-OSI)

    BRENTWOOD, Tenn., Sept. 24, 2024 (GLOBE NEWSWIRE) — Comdata Inc., a Corpay brand and world leader in payment innovation, announced today 7-Eleven, Inc. and its brands 7-Eleven®, Speedway®, and Stripes®, have joined Comdata’s Fuel Consortium. This enhancement creates new capabilities for cardholders and offers products that better serve fleets of all sizes.

    With this expanded partnership, fleets have ability to access cost-plus savings on both gas and diesel at 7-Eleven’s nationwide network of over 7,500+ fuel locations. Comdata and 7-Eleven are the first to provide this functionality with a universal fuel card.

    “We are excited to have 7-Eleven on board and for what this relationship means for our customers,” said Randy Morgan, President, Comdata North America Trucking/Enterprise. “This partnership highlights our continued mission to provide our customers with products that intentionally improve their business’s bottom line—especially for fuel expenses.”

    Along with driving more savings at the pump, cardholders can receive additional benefits of a Comdata fuel card including:

    • Innovative fraud protection tools like OneClick™ which keeps the card locked until the driver is at the pump ready to fuel and is unlocked with “one click” of a button.
    • The industry’s only NO FUEL FRAUD GUARANTEE1 powered by Proximity, a collection of Enhanced Authorization Controls.
    • Comprehensive data collection, analytics, and reporting with a user-friendly dashboard via OneLook.

    For a comprehensive site locator map of 7-Eleven, Speedway, and Stripes stores, visit https://www.7-eleven.com/locator.

    Comdata is committed to consistently cultivating strong relationships with industry partners to meet the needs of its customers. To learn more about Comdata, visit www.comdata.com.

    1With active Proximity subscription, subject to mandatory system and operational requirements.

    About Comdata
    Comdata Inc., a Corpay brand, is a leader and innovator in commercial payment solutions, driving actionable insights from spending data, building enhanced controls to protect clients’ interests, and positively impacting day-to-day operations for fleet owners and managers and drivers in the trucking industry. Founded in 1969 in Brentwood, Tennessee, Comdata has proudly supported the life-impacting trucking industry for over 50 years. To learn more, visit www.comdata.com.

    About 7-Eleven, Inc.
    7-Eleven, Inc. is the premier name in the U.S. convenience-retailing industry. Based in Irving, Texas, 7-Eleven operates, franchises and/or licenses more than 13,000 stores in the U.S. and Canada. In addition to 7-Eleven® stores, 7-Eleven, Inc. operates and franchises Speedway®Stripes®Laredo Taco Company® and Raise the Roost® Chicken and Biscuits locations. Known for its iconic brands such as Slurpee®, Big Bite® and Big Gulp®, 7-Eleven has expanded into high-quality sandwiches, salads, side dishes, cut fruit and protein boxes, as well as pizza, chicken wings and mini beef tacos. 7-Eleven offers customers industry-leading private brand products at outstanding value. Customers can earn and redeem points on various items in stores nationwide through its 7Rewards® and Speedy Rewards® loyalty programs with more than 80 million members, place an order in the 7NOW® delivery app in over 95% of the convenience retailer’s footprint, or rely on 7-Eleven for other convenient services. Find out more online at www.7-eleven.com

    Media Contact:

    Kathy Hickerson

    Corpay, North America Fleet (Comdata)

    Kathryn.hickerson@corpay.com 

    The MIL Network

  • MIL-OSI: STMicroelectronics unveils new generation of silicon carbide power technology tailored for next-generation EV traction inverters

    Source: GlobeNewswire (MIL-OSI)

    STMicroelectronics unveils new generation of silicon carbide power technology tailored for next-generation EV traction inverters

    • Smaller, more efficient products to ramp-up in volumes through 2025 across 750V and 1200V classes, will bring the advantages of silicon carbide beyond premium models to mid-size and compact electric vehicles.
    • ST plans to introduce multiple silicon carbide technology innovations through 2027, including a radical innovation.

    Geneva, Switzerland, September 24, 2024 – STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, is introducing its fourth generation STPOWER silicon carbide (SiC) MOSFET technology. The Generation 4 technology brings new benchmarks in power efficiency, power density and robustness. While serving the needs of both the automotive and industrial markets, the new technology is particularly optimized for traction inverters, the key component of electric vehicle (EV) powertrains. The company plans to introduce further advanced SiC technology innovations through 2027 as a commitment to innovation.

    STMicroelectronics is committed to driving the future of electric mobility and industrial efficiency through our cutting-edge silicon carbide technology. We continue to advance SiC MOSFET technology with innovations in the device, advanced packages, and power modules,” said Marco Cassis, President, Analog, Power & Discrete, MEMS and Sensors Group. “Together with our vertically integrated manufacturing strategy, we are delivering industry leading SiC technology performance and a resilient supply chain to meet the growing needs of our customers and contribute to a more sustainable future.

    As the market leader in SiC power MOSFETs, ST is driving further innovation to exploit SiC’s higher efficiency and greater power density compared to silicon devices. This latest generation of SiC devices is conceived to benefit future EV traction inverter platforms, with further advances in size and energy-saving potential. While the EV market continues to grow, challenges remain to achieve widespread adoption and car makers are looking to deliver more affordable electric cars. 800V EV bus drive systems based on SiC have enabled faster charging and reduced EV weight, allowing car makers to produce vehicles with longer driving ranges for premium models. ST’s new SiC MOSFET devices, which will be made available in 750V and 1200V classes, will improve energy efficiency and performance of both 400V and 800V EV bus traction inverters, bringing the advantages of SiC to mid-size and compact EVs — key segments to help achieve mass market adoption. The new generation SiC technology is also suitable for a variety of high-power industrial applications, including solar inverters, energy storage solutions and datacenters, significantly improving energy efficiency for these growing applications.

    Availability
    ST has completed qualification of the 750V class of the fourth generation SiC technology platform and expects to complete qualification of the 1200V class in the first quarter of 2025. Commercial availability of devices with nominal voltage ratings of 750V and 1200V will follow, allowing designers to address applications operating from standard AC-line voltages up to high-voltage EV batteries and chargers. 

    Use cases
    ST’s Generation 4 SiC MOSFETs provide higher efficiency, smaller components, reduced weight, and extended driving range compared to silicon-based solutions. These benefits are critical for achieving widespread adoption of EVs and leading EV manufacturers are engaged with ST to introduce the Generation 4 SiC technology into their vehicles, enhancing performance and energy efficiency. While the primary application is EV traction inverters, ST’s Generation 4 SiC MOSFETs are also suitable for use in high-power industrial motor drives, benefiting from the devices’ improved switching performance and robustness. This results in more efficient and reliable motor control, reducing energy consumption and operational costs in industrial settings. In renewable energy applications, the Generation 4 SiC MOSFETs enhance the efficiency of solar inverters and energy storage systems, contributing to more sustainable and cost-effective energy solutions. Additionally, these SiC MOSFETs can be utilized in power supply units for server datacenters for AI, where their high efficiency and compact size are crucial for the significant power demands and thermal management challenges.

    Roadmap
    To accelerate the development of SiC power devices through its vertically integrated manufacturing strategy, ST is developing multiple SiC technology innovations in parallel to advance power device technologies over the next three years. The fifth generation of ST SiC power devices will feature an innovative high-power density technology based on planar structure. ST is at the same time developing a radical innovation that promises outstanding on-resistance RDS(on) value at high temperatures and further RDS(on) reduction, compared to existing SiC technologies.

    ST will attend ICSCRM 2024, the annual scientific and industry conference exploring the newest achievements in SiC and other wide bandgap semiconductors. The event, from September 29 to October 04, 2024, in Raleigh, North Carolina will include ST technical presentations and an industrial keynote on ‘High volume industrial environment for leading edge technologies in SiC’. Find out more here: ICSCRM 2024 – STMicroelectronics.

    Technical Note to Editors
    The fourth generation SiC MOSFETs from STMicroelectronics represent a significant leap forward in power conversion technology compared to previous generations. These devices are engineered to deliver superior performance and robustness, addressing the stringent demands of future EV traction inverters. The Generation 4 SiC MOSFETs feature a significantly lower on-resistance (RDS(on)) measured against prior generations, minimizing conduction losses, and enhancing overall system efficiency. They offer faster switching speeds, which translate to lower switching losses, crucial for high-frequency applications and enabling more compact and efficient power converters. The Generation 4 technology provides extra robustness in Dynamic Reverse Bias (DRB) conditions, exceeding the AQG324 automotive standard, ensuring reliable operation under harsh conditions.

    With Generation 4 ST continues to deliver outstanding RDS(on) x die-area figure of merit to ensure high current-handling capability with minimal losses. The average die size of Generation 4 devices is 12-15% smaller than that of Generation 3, considering an RDS(on) at 25 degrees Celsius, allowing for more compact power converter designs, saving valuable space, and reducing system costs. The improved power density of these devices supports the development of more compact and efficient power converters and inverters, essential for both automotive and industrial applications. In addition, this is particularly beneficial for power supply units in server datacenters for AI, where space and efficiency are critical factors. 

    As an industry leader in this technology, ST has already supplied STPOWER SiC devices for more than five million passenger cars worldwide in a range of EV applications including traction inverter, OBC (onboard charger), DC-DC converter, EV charging station, and e-compressor application, significantly enhancing the performance, efficiency, and range of NEVs. ST’s SiC strategy, as an integrated device manufacturer (IDM), ensures quality and security of supply to serve carmakers’ strategies for electrification. With the recently announced fully vertically integrated SiC substrate manufacturing facility in Catania, expected to start production in 2026, ST is moving quickly to support the rapid market transition towards e-mobility and higher efficiency in industrial applications.

    For further information about ST’s SiC portfolio, please visit www.st.com/sic-mosfets

    About STMicroelectronics
    At ST, we are over 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are committed to achieving our goal to become carbon neutral on scope 1 and 2 and partially scope 3 by 2027. Further information can be found at www.st.com.

    For further information, please contact:

    INVESTOR RELATIONS:
    Céline Berthier
    Group VP, Investor Relations
    Tel: +41.22.929.58.12
    celine.berthier@st.com

    MEDIA RELATIONS:
    Alexis Breton        
    Corporate External Communications
    Tel: +33.6.59.16.79.08
    alexis.breton@st.com

    Attachment

    The MIL Network

  • MIL-OSI: Sprout Social Named #1 in 94 Reports in G2’s 2024 Fall Reports, Expanding its Leadership Across Global Markets and Business Segments

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Sept. 24, 2024 (GLOBE NEWSWIRE) — Sprout Social (Nasdaq: SPT), an industry-leading provider of cloud-based social media management software, has been recognized by G2’s 2024 Fall Reports with 173 leader badges spanning all business segments, from small business to mid-market and enterprise, and across every region including EMEA, APAC, and the Middle East. The company earns these additional recognitions after being named G2’s #1 Best Software Product for 2024.

    Sprout Social has maintained their #1 position in the Grid® Report for Social Customer Service, Social Media Analytics, Social Media Suites and Social Media Listening Tools. The company has been recognized in an increasing number of G2 reports across Asia-Pacific and other regions, including the Enterprise Asia Regional Grid® Report for Social Media Suites, further solidifying their position as a global leader in social media management.

    “Our continued recognition in G2’s Fall Reports is a testament to the trust and loyalty of our customers,” said Mike Wolff, Chief Revenue Officer, Sprout Social. “These rankings are more than just a reflection of our platform’s capabilities—they highlight the meaningful ways we help businesses solve complex challenges. From leveraging AI to expanding our integrations, we’re committed to delivering innovative solutions that meet the diverse needs of businesses worldwide.”

    This recognition follows several exciting developments at Sprout Social, including their integration with Salesforce’s Agentforce to assist service reps, new advancements from their latest quarterly product showcase, and a partnership with Carahsoft as a NASPO-approved vendor, strengthening their presence in the public sector and making their solutions more accessible to government agencies. Sprout Social earned its place on these lists because of customer feedback, including:

    “I love that Sprout Social was easy to set up and allows for easy posting/scheduling. It was very quick to integrate with our other tools such as Salesforce.”

    “I love the AI assistant that provides caption options for posts and the suggested posting times are very accurate. Additionally, Sprout offers very useful analytics to help us determine if our content is on the right track or if adjustments are needed.”

    “What I love most about Sprout Social is its seamless integration of social media management tools that make my agency’s workflow incredibly efficient. The platform’s user-friendly interface allows us to easily schedule, monitor, and engage across multiple social channels, all in one place. The detailed analytics provided by Sprout give us actionable insights, helping us refine our strategies and demonstrate clear ROI to our clients. It’s not just about managing posts; it’s about having a comprehensive understanding of our social media impact, which Sprout makes possible with minimal hassle.”

    “Sprout Social has been a game-changer for our team. Plus, the team-friendly design has enhanced our collaboration, making it easier to hit our social media goals together.”

    Learn about G2’s methodology or read more reviews directly from Sprout users here.

    About Sprout Social
    Sprout Social is a global leader in social media management and analytics software. Sprout’s intuitive platform puts powerful social data into the hands of more than 30,000 brands so they can deliver smarter, faster business impact. Named the #1 Best Software Product by G2’s 2024 Best Software Award, Sprout offers comprehensive publishing and engagement functionality, customer care, influencer marketing, advocacy, and AI-powered business intelligence. Sprout’s software operates across all major social media networks and digital platforms. For more information about Sprout Social (NASDAQ: SPT), visit sproutsocial.com.

    Social Media Profiles:
    www.twitter.com/SproutSocial
    www.twitter.com/SproutSocialIR
    www.facebook.com/SproutSocialInc
    www.linkedin.com/company/sprout-social-inc-/
    www.instagram.com/sproutsocial

    Contact
    Media:
    Layla Revis
    Email: pr@sproutsocial.com
    Phone: (866) 878-3231

    Investors:
    Lexi Johnson
    Twitter: @SproutSocialIR
    Email: investors@sproutsocial.com
    Phone: (312) 528-9166

    The MIL Network

  • MIL-OSI: Maris-Tech Announces that its Amethyst Edge Computing Video Solution Now Supports 5G, Enabling Ultra-Speed and High Data Transfer

    Source: GlobeNewswire (MIL-OSI)

    5G integrations for homeland security, safe cities, civil security and defense markets empowers next-generation video streaming technology

    Rehovot, Israel, Sept. 24, 2024 (GLOBE NEWSWIRE) — Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the “Company”), a global leader in video and artificial intelligence (“AI”)-based edge computing technology, today announced that its Amethyst edge computing video solution product line (“Amethyst”), now supports 5G capability, enabling ultra-speed and high data transfer. This enhancement to the Amethyst product line highlights Maris-Tech’s commitment to staying at the forefront of technology.

    The new 5G capability allows Amethyst to significantly improve operational efficiency in real-time, mission-critical environments.

    The integration of 5G into Amethyst delivers high-quality, narrow-band, ultra-low-latency video streaming over cellular networks. This upgrade is aimed to benefit the homeland security and civil security markets, where missions require real-time, reliable communications.

    Amethyst is an advanced, low-power H.264/5 multiple-stream recorder and streamer that supports both cellular and Ethernet networks. The device accepts video from IP and USB cameras, generates multiple H.264/5 streams IP camera inputs, and records the streams onto local EMMC or Micro-SD storage. Amethyst also enables real-time and pre-recorded video streaming over cellular or Ethernet networks and is fully controlled through Android, iOS, and Windows applications.

    Israel Bar, Chief Executive Officer of Maris-Tech, said, “The introduction of 5G capability in Amethyst reflects Maris-Tech’s commitment to innovation. By integrating the latest technology in our product line, we are providing our customers with higher levels of performance and flexibility. This leap to 5G is expected to allow our clients to execute complex missions with greater efficiency, precision and confidence.”

    In addition to speed and latency, 5G technology delivers superior network capacity by supporting a higher density of connected devices – crucial for modern security operations in urban environments. Its adaptable network architecture also allows for more customized, efficient communication systems.

    According to Markets and Markets, “The 5G Defense market is estimated to be USD 0.9 Billion in 2023 to USD 2.4 by 2028”. Maris-Tech’s Amethyst 5G is well-positioned to meet this rising demand. The airborne segment, a key area for 5G deployment, is projected to reach $0.786 billion by 2028, further highlighting the importance of 5G-enabled technologies in modern security operations, according to Markets and Markets.

    About Maris-Tech Ltd.

    Maris-Tech is a global leader in video and AI-based edge computing technology, pioneering intelligent video transmission solutions that conquer complex encoding-decoding challenges. Our miniature, lightweight, and low-power products deliver high-performance capabilities including raw data processing, seamless transfer, advanced image processing, and AI-driven analytics. Founded by Israel technology sector veterans, Maris-Tech serves leading manufacturers worldwide in defense, aerospace, Intelligence gathering, homeland security (HLS) and communication industries worldwide. We’re pushing the boundaries of video transmission and edge computing, driving innovation in mission-critical applications across commercial and defense sectors.

    For more information, visit https://www.maris-tech.com/

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect”,” “may”, “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we are discussing our commitment to staying at the forefront of technology, our position to meet the rising demand of the global defense market and the expected advantages and benefits to our customers from the integration of 5G capability into Amethyst, including the improvement in operational efficiency in real-time mission-critical environments, the delivery of high-quality, narrow-band, ultra-low-latency video streaming over cellular networks, the high level of performance and the ability to execute complex missions with greater efficiency, precision and confidence, the delivery of superior network capacity and adaptability of the network architecture to allow more customized and efficient communication systems. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully market our products and services, including in the United States; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in the Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 21, 2024, and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Relations:

    Nir Bussy, Chief Financial Officer
    Tel: +972-72-2424022
    Nir@maris-tech.com

    The MIL Network

  • MIL-OSI: CrashPlan Introduces New Commission-Based Affiliate Program

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, Sept. 24, 2024 (GLOBE NEWSWIRE) — Backup and recovery leader CrashPlan today introduced a new commission-based affiliate program aimed at making it simple to offer unlimited personal computer backup as a benefit. Through the program, individuals and organizations of all types can earn commissions from customer referrals and offer discounted, unlimited endpoint backup.

    CrashPlan makes it easy for more than 900,000 users to protect the data stored on more than 1.4 million devices by automatically backing them up every fifteen minutes. Whether a CrashPlan user accidentally deletes files, their computer malfunctions, or their laptop gets stolen, they can quickly recover their data. CrashPlan users recover over 100 billion files annually, a big reason the average user has been a customer for more than seven years.

    CrashPlan provides each affiliate partner with dedicated marketing materials to make it easy to extend benefits to their communities, including a logo and a unique promo code to add to their benefits page, an optional landing page, and a series of emails to send through their own channels that speak to the benefits of endpoint backup with CrashPlan. Affiliates can sign up for the program for free and receive a 7% commission for every sale brought in through their unique discount code. Subscribers will have the option to choose between a 1-year or 2-year CrashPlan Professional subscription.

    “Our users understand the value of automatic endpoint data backup because they have seen it save the day again and again,” said Christine Schaefer, Chief Marketing Officer for CrashPlan. “This program gives our most passionate customers a way to share CrashPlan with their fans and followers, along with a special 10% discount to reward them for their loyalty.”

    To learn more or sign up for CrashPlan’s Affiliate Program, visit: https://www.crashplan.com/partners/affiliate-program/

    About CrashPlan
    CrashPlan® enables organizational resilience through secure, scalable, and straightforward endpoint data backup. With automatic backup and customizable file version retention, you can bounce back from any data calamity. What starts as computer backup and recovery becomes a solution for ransomware recovery, breaches, migrations, and legal holds. So, you can work fearlessly and grow confidently.

    Media Contact:
    Maura Lafferty
    Firebrand Communications
    crashplan@firebrand.marketing

    The MIL Network

  • MIL-OSI: Axus Technology Delivers Industry’s Lowest Cost of Ownership for CMP Processes on 200mm SiC Wafers

    Source: GlobeNewswire (MIL-OSI)

    CHANDLER, Ariz., Sept. 24, 2024 (GLOBE NEWSWIRE) — Axus Technology, a leading global provider of chemical mechanical planarization (CMP) equipment, critical for semiconductor and compound semiconductor fabrication, today announced its flagship Capstone CS200 platform tools offer the industry’s lowest cost of ownership (CoO) for CMP processes on 200mm silicon carbide (SiC) wafers. Compared to its closest competitor, Axus’s small-footprint Capstone delivers twice the throughput at less than half the total cost per wafer.

    Yole Group forecasts the overall SiC manufacturing tool market to top US$4.4 billion by 2029. “The unique properties of SiC require specialized manufacturing tools and lines for processing power SiC devices,” the market analyst firm noted earlier this year. Axus anticipated this need, designing the state-of-the-art Capstone from the ground up to deliver advanced processing capabilities for SiC in power electronics and other applications.

    “Many 200mm fabs are looking to upgrade their installed base of CMP tools to products with leading-edge capability and functionality. Our ability to deliver industry-low CoO further underscores our strong market position and capacity to support this shift,” said Axus Technology CEO Dan Trojan. “Capstone features a streamlined workflow and integrated cleaning capability, so it requires half the process steps of older CMP tools. This allows customers to greatly lower their capex investment.”

    Key Capstone CoO advantages vs. competitor

    • Throughput: 2.5x wafers per hour
    • Power consumption: 60% lower
    • DI water consumption: 80% lower
    • Footprint: 45% smaller
    • Capex cost per wafer: 65% lower
    • Total cost per wafer: 50% lower

    Another factor contributing to Capstone’s lower CoO is its built-in Process Temperature Control (PTC) technology, which enables processing at higher pressures and speeds without exceeding temperature limits of polishing pads and other sensitive components. This feature is vital for SiC and other materials with high hardness and planarization challenges that necessitate more aggressive process conditions.

    Axus built its proprietary CoO model using its own system specifications, publicly available specs for competitive tools, actual consumables costs, and real-world performance data supplied by customers. The comprehensive model factors in all CoO contributors: process variables (polish time and removal rates), polishing and cleaning consumables, power and deionized (DI) water usage, system footprint, and equipment capex including cost, utilization and wafer capacity.

    Company executives will be on hand to discuss further details regarding Axus Technology’s performance and CoO benefits in Meeting Room 204 at the upcoming International Conference on Silicon Carbide and Related Materials (ICSCRM), Sept. 29-Oct. 4, at the Raleigh (N.C.) Convention Center. To schedule a meeting with Axus at the event, please click here.

    About Axus Technology
    Led by its state-of-the-art Capstone® CMP and Aquarius™ wafer-cleaning platforms, Axus Technology is a recognized industry leader in designing and building modern, flexible next-generation equipment and providing custom process-development services. Axus enables companies of all sizes, from startups to high-volume manufacturers, to test, develop, and implement leading-edge solutions—particularly for novel and emerging materials—process integration schemes, products and applications. Axus’s equipment solutions range from low cost-of-ownership entry-level tools to state-of-the-art high-volume manufacturing systems. Process testing, development, optimization, and scaling are supported by our process applications lab and foundry, which includes a full array of process equipment and supporting metrology, and is staffed by the industry’s most experienced CMP team. For more information, please visit www.axustech.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/702aeae3-4721-4615-b7b7-727cc00d3ddd

    The MIL Network

  • MIL-OSI: Suzy’s Chief Customer Officer Katie Gross Promoted to President

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 24, 2024 (GLOBE NEWSWIRE) — Suzy, a leading market research and consumer insights platform today announced the promotion of Katie Gross, Chief Customer Officer, to President. Gross has played a pivotal role in driving Suzy’s mission to revolutionize consumer insights for the world’s leading brands. Her new leadership position reflects the company’s commitment to continuing its rapid growth and innovative approach to market research.

    Katie brings to the role over 20 years of global leadership experience, including leadership roles at Cint, Toluna, and Mintel. Her journey at Suzy began with a focus on customer experience and business development, where she has built a world class team enabling Suzy’s promise to bring high-quality, agile research to the world’s leading brands. In her expanded role, she will continue to oversee all of Suzy’s commercial functions and take on expanded roles in strategy and corporate development, ensuring the company continues to lead in product innovation, customer satisfaction, and growth.

    “I am thrilled to step into the role of President at such an exciting time for Suzy,” said Katie Gross. “I look forward to working alongside our talented team to push the boundaries of what’s possible in the world of consumer insights. Together, we will continue to evolve our platform and ensure that brands across industries can access the real-time, actionable data they need to drive their businesses forward.”

    Matt Britton, Founder and CEO of Suzy, praised Katie’s promotion, stating, “Katie has been an extraordinary leader at Suzy, consistently elevating our culture, product, team, and customer relationships. I am confident that as President, she will continue to drive our mission forward and help Suzy reach new heights.”

    In addition to her role at Suzy, Katie Gross serves on the board of the Insights Association and Market Research Institute International further exemplifying her commitment to mentorship and advancement in the market research industry.

    About Suzy

    Founded in 2018, Suzy is changing the way research gets done by integrating quantitative analysis, qualitative analysis, and high quality audiences into a single connected research cloud. Suzy enables teams to conduct iterative, efficient research with agency-quality rigor at a fraction of the cost of traditional market research. Suzy has been recognized on Forbes’ list of America’s Best Startup Employers in 2022, Inc. Magazine’s list of Best Workplaces of 2022 & 2023, Inc. Magazine’s Top 5000 list in 2024, GRIT’s Top 50 Most Innovative Supplier in Market Research and a Top 25 Innovator in 2024 by the Insights Association. Suzy has raised over $100 million in venture capital funding from investors that include Bertelsmann Digital Media Investments, Foundry Group, H.I.G. Capital, Rho Ventures, North Atlantic Capital, Tribeca Venture Partners, Triangle Peak Partners, and Kevin Durant’s 35 Ventures. Learn more at www.suzy.com.

    Contact Info:
    Melissa Dunn
    EVP, Marketing & Communications
    Suzy, Inc.
    917-969-8200
    melissa.dunn@suzy.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/91581a1b-c038-455d-9d58-4fa06c307148

    The MIL Network

  • MIL-OSI: David Henshall Joins BlackLine Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    Henshall brings significant experience in enterprise software and
    possesses unmatched expertise in finance, strategy, and technology development

    LOS ANGELES, Sept. 24, 2024 (GLOBE NEWSWIRE) — BlackLine (NASDAQ BL), the future-ready platform for the Office of the CFO, today announced the appointment of David Henshall to its Board of Directors.

    Henshall brings a wealth of business experience and deep financial expertise, with a proven track record advising companies on strategies to enhance operations and financial performance. He spent nearly 20 years in various executive roles at Citrix, most recently as President and Chief Executive Officer. During his tenure, he played a critical role in accelerating Citrix’s cloud transition and enhancing the company’s operational performance. Prior to his role as CEO, he served as Chief Operating Officer and Chief Financial Officer.

    “We are thrilled to welcome David, a proven software leader, to our Board of Directors,” said Owen Ryan, Co-CEO and Chairman of BlackLine. “David possesses one-of-a-kind executive experience leading a reputable business in the enterprise software space. His experience advancing technology companies aligns perfectly with our vision and operating model, and his skill set will further support our continued development of financial and operational strategies, helping BlackLine achieve its long-term potential. This appointment reflects our commitment to strong corporate governance and delivering value to our shareholders.”

    Co-CEO and Founder Therese Tucker added, “I look forward to collaborating with David as we continue to execute our strategic initiatives. At BlackLine, we are constantly innovating to harness the full power of our platform, delivering future-ready financial operations that are accurate, efficient, and intelligent. David’s leadership qualities and valuable insights gained from his proven track record and other board experiences will add to the strength of our Board of Directors and aid us in continuing to create measurable value for our customers, investors, and other stakeholders.”

    Henshall commented, “I am honored to join BlackLine’s Board of Directors. BlackLine is uniquely positioned in the market with unmatched domain expertise and a comprehensive platform that empowers the office of the CFO. I look forward to working with this innovative and visionary team to drive continued growth and success.”

    About David Henshall

    David Henshall most recently served as President & CEO of Citrix Systems, a leading multinational provider of cloud computing and virtualization technology, where he held executive roles for the past nearly twenty years. Prior to his role as President, CEO, and Director of Citrix, Henshall served as Chief Operating Officer and Chief Financial Officer, overseeing the company’s worldwide finance, operations, and administration organizations. Before joining Citrix, he served as Chief Financial Officer of Rational Software Corporation, a software company acquired by IBM Corporation.

    An experienced public company board director, Henshall also actively serves as a member of the boards of directors of HashiCorp, Inc., Aspen Technology, Inc., and Feedzai, Inc., and was formerly the Chairman of the board of directors of Everbridge, Inc., and a director of New Relic, Inc. and LogMeIn, Inc. 

    About BlackLine

    BlackLine (Nasdaq: BL), the future-ready platform for the Office of the CFO, drives digital finance transformation by empowering organizations with accurate, efficient, and intelligent financial operations.

    BlackLine’s comprehensive platform addresses mission-critical processes, including record-to-report and invoice-to-cash, enabling unified and accurate data, streamlined and optimized processes, and real-time insight through visibility, automation, and AI. BlackLine’s proven, collaborative approach ensures continuous transformation, delivering immediate impact and sustained value. With a proven track record of innovation, industry-leading R&D investment, and world-class security practices, more than 4,400 customers across multiple industries partner with BlackLine to lead their organizations into the future.

    For more information, please visit blackline.com.

    Media Contact:

    Samantha Darilek
    VP, Communications
    BlackLine
    samantha.darilek@blackline.com

    BlackLine Forward-looking Statements

    This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expect,” “plan,” anticipate,” “believe,” “estimate,” “predict,” “intend,” “potential,” “would,” “continue,” “ongoing” or the negative of these terms or other comparable terminology. Forward-looking statements in this release include statements regarding our growth plans, strategies and opportunities.

    Any forward-looking statements contained in this press release are based upon BlackLine’s current plans, estimates and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith beliefs and assumptions as of that time with respect to future events and are subject to risks and uncertainties. If any of these risks or uncertainties materialize or if any assumptions prove incorrect, actual performance or results may differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the Company’s ability to execute on its strategies, attract new customers, enter new geographies and develop, release and sell new features and solutions; and other risks and uncertainties described in the other filings we make with the Securities and Exchange Commission from time to time, including the risks described under the heading “Risk Factors” in our Annual Report on Form 10-K. Additional information will also be set forth in our Quarterly Reports on Form 10-Q.

    Forward-looking statements should not be read as a guarantee of future performance or results, and you should not place undue reliance on such statements. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0d33f625-3545-4e45-ba35-fd1b97885c56

    The MIL Network

  • MIL-OSI: Zoom introduces new advanced enterprise offerings to boost efficiency, reliability, security, and compliance for enterprise organizations

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., Sept. 24, 2024 (GLOBE NEWSWIRE) — Today, Zoom announced several new add-on products and functionalities to further strengthen its advanced enterprise offerings portfolio for the Zoom platform. Zoom advanced enterprise offerings consist of a comprehensive portfolio of Zoom products and features that help organizations meet their compliance, security, privacy, survivability, and manageability requirements.

    “Zoom’s advanced enterprise offerings reflect our commitment to empowering businesses and providing them with offerings that enable them to be more efficient, secure, compliant, and reliable,” said Smita Hashim, chief product officer, Zoom. “Our advanced enterprise products and features are essential tools built for Zoom Workplace and Zoom Business Services like Zoom Events and Zoom Contact Center that work behind the scenes as part of the Zoom network infrastructure to provide exceptional experiences to our customers. Our goal is to make communication and collaboration on Zoom foolproof, future-proof, and fail-proof.”

    New offerings for enterprise customers

    In 2023 alone, over $549 million in non-compliance penalties were issued globally, more than 353 million individuals were impacted by security breaches, and 31 percent of enterprises experienced unstable network or bandwidth constraints. Companies face urgent pressures to manage often complex compliance obligations, avoid hefty fines, safeguard their reputations against security threats, and prevent user dissatisfaction stemming from unreliable connectivity. Zoom’s newest additions to its advanced enterprise offerings are poised to help companies overcome these challenges.

    • Zoom Compliance Manager Plus: Launched in March and powered by Theta Lake, Zoom Compliance Manager (ZCM) is an all-in-one offering that provides archiving, eDiscovery, legal hold, and information protection offerings for enterprises. Zoom Compliance Manager Plus enhances ZCM with advanced features such as risk detection, data loss protection, and advanced trends analysis. These enhanced capabilities will further help organizations fulfill regulatory obligations and mitigate organizational communications compliance risks.
    • Zoom Meeting Survivability: Introduces a new level of network redundancy and enables business continuity, helping to ensure uninterrupted Zoom meeting service even during internet disruption due to outages from a storm, natural disaster, or carrier failure. Utilizing Zoom Node, a central hub for hosting Zoom workloads on premises, this functionality keeps meetings running smoothly via a failover to data centers where meetings are hosted on your local servers with minimal disruption to the end users.
    • Zoom Mesh for Meetings: With Zoom Mesh, companies can optimize bandwidth usage and save up to 60 percent on internet bandwidth and associated costs. Already available for Zoom Webinars and Zoom Events, this capability now extends to Zoom Meetings for an exceptional user experience regardless of bandwidth constraints.
    • Zoom Customer Managed Key (CMK) Hybrid: CMK Hybrid enhances Zoom’s current CMK data privacy offering by providing customers with more options to manage the encryption keys used to protect data maintained by Zoom. CMK Hybrid allows customers to control the entire encryption/decryption process on premises. Zoom Team Chat messages, for example, can be encrypted locally by the Zoom Workplace app (some Zoom cloud-based Team Chat functionalities will not be available as a result). Zoom CMK Hybrid will be available for Zoom Workplace starting with the support of Zoom Team Chat in Q4 2024.

    An enterprise-grade offerings portfolio designed to meet organizations’ needs

    The new advanced enterprise products and features introduced today bolster the existing robust portfolio of Zoom’s enterprise offerings, which are specifically designed to address the complex needs of large organizations and those in regulated industries such as finance, healthcare, and government agencies. These offerings are included with Zoom Workplace Enterprise licenses, help improve business continuity, optimize bandwidth, enhance security, simplify manageability, and support communications compliance. The advanced enterprise offerings are organized across six key categories:

    • Communications compliance: Archiving, Data Loss Prevention, Information Barrier, and Chat Etiquette solutions help address communications compliance requirements for regulated industries worldwide.
    • Data residency & privacy compliance: Tools to help meet local and regional customer data residency and privacy compliance requirements such as Customer Managed Key.
    • Policy & deployment management: Zoom Device Management, policy provisioning, and deployment tools to help ease implementation and support.
    • Security & access control: Encryption and virtual desktop infrastructure (VDI) offerings to provide enhanced security protection for data at rest and in transit.
    • Analytics & insights: A robust set of dashboards, monitoring, reporting, and alerting tools to improve overall operational visibility.
    • Network optimization & survivability: Zoom Mesh, Zoom Node, and Zoom survivability solutions help reduce bandwidth, optimize performance, and improve business continuity.

    Several Zoom advanced enterprise offerings including end-to-end encryption, GDPR and privacy controls, management dashboards, and other capabilities are already available with Zoom Workplace Enterprise licenses while other features, including these new products, are available as paid add-ons. For more information on Zoom’s advanced enterprise offerings, please visit the Zoom advanced enterprise website. Zoom will also host technical sessions on its enterprise offerings at Zoomtopia 2024 for those interested in learning more.

    About Zoom
    Zoom’s mission is to provide one platform that delivers limitless human connection. Reimagine teamwork with Zoom Workplace — Zoom’s open collaboration platform with AI Companion that empowers teams to be more productive. Together with Zoom Workplace, Zoom’s Business Services for sales, marketing, and customer care teams, including Zoom Contact Center, strengthen customer relationships throughout the customer lifecycle. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Get more information at zoom.com.

    Zoom Public Relations
    Travis Isaman
    press@zoom.us

    The MIL Network

  • MIL-OSI: Tabnine Introduces First AI Agents to Autonomously Generate and Validate Code for Atlassian Jira

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Israel, Sept. 24, 2024 (GLOBE NEWSWIRE) — Tabnine, the originators of the AI code assistant category, today announced the general availability of two new AI agents seamlessly integrated into Atlassian Jira to transform the way software teams approach software development and maintenance tasks: the Jira Implementation Agent and the Jira Validation Agent. ​​

    First previewed in May, Tabnine is the first AI code assistant to offer a full integration with Jira and the first to offer publicly available “issue to code” AI agents. Now with just a single click, Tabnine customers can implement a Jira issue (whether a story, bug, task, or subtask), autonomously generating code from the requirements outlined in that issue. Further on, developers can then use Tabnine’s Jira Validation Agent to ensure that selected code — whether human- or AI-generated — meets the specifications of an issue in Jira, with Tabnine offering instant feedback and code suggestions if adjustments are needed.

    “We’re proud to lead a new evolution of AI in software development, with human engineers and highly capable AI agents collaborating to streamline the entire software development lifecycle,” said Brandon Jung, VP Ecosystem at Tabnine. “By offering developers not just best-in-class AI software development tools, but a platform that is CIO and CISO-approved for its privacy and company-specific personalization, Tabnine is helping mature engineering teams build better apps faster and with more confidence.”

    These latest agents further support Tabnine’s proven ability to automate upwards of 50% of the code and artifacts for developers. Offering unparalleled privacy and comprehensive protection from legal risk, Tabnine’s AI Agents respect the company’s zero data retention policy for any and all information they are exposed to through Jira.

    The capabilities of the new Tabnine Jira Agents include:

    • One-Click Code Generation: Automatically generate code for Jira issue requirements with a single click using the Jira Implementation Agent.
    • AI-Driven Code Validation: Validate and review code against Jira issue requirements with the Jira Validation Agent, offering suggestions and feedback.
    • First-to-Market “Issue-to-Code” AI Agent: Tabnine is the first AI code assistant to fully integrate with Jira for an end-to-end “issue-to-code” workflow.
    • Parent Issue Implementation: Implement parent issues like entire Jira stories, bugs, and tasks directly through Tabnine, with more detailed support for child issues coming soon.
    • Contextual AI Code Suggestions: Tabnine leverages Jira issue details (text in title and description) and local project context to deliver more accurate and relevant code recommendations.
    • Seamless Jira Integration: Simple setup with Jira, respecting all user permissions and ensuring only assigned issues are accessible.
    • Enterprise-Ready Configuration: Available at no additional cost for Tabnine Pro and Enterprise customers, with admin-controlled deployment for Enterprise users.

    The automated agents build on Tabnine’s recent AI advancements, including the AI Test agent and onboarding agent, automating some of the most important yet time-intensive tasks.

    For more detailed information as well as to view demonstrations that show how to connect Tabnine to Jira, how to implement a Jira issue, and more, read Tabnine’s blog here.

    About Tabnine
    Tabnine helps development teams of every size use AI to accelerate and improve the software development life cycle. As the original AI coding assistant, Tabnine has been used by millions of developers around the world to boost code quality and developer happiness using generative AI. Unlike other coding assistants, Tabnine is the AI that you control; it is extensively personalized to your engineering team, private and secure (easily running in your controlled environments), never stores or trains on your company’s code or user data, and offers models trained exclusively on open-source code with permissive licenses to eliminate IP risks. Learn more at tabnine.com or follow us on LinkedIn.

    Contact
    press@tabnine.com

    The MIL Network

  • MIL-OSI: Cipher Mining Announces the Closing of its Acquisition of Barber Lake 300 MW Data Center Site

    Source: GlobeNewswire (MIL-OSI)

    Completed acquisition of Barber Lake data center site, which includes 250 acres of land in West Texas, a newly constructed high-to-mid voltage substation, approvals for 300 MW, and agreements necessary to participate in the ERCOT market

    Site acquisition funded with the proceeds from bitcoin inventory sales

    NEW YORK, Sept. 24, 2024 (GLOBE NEWSWIRE) — Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”) today announced it has completed the acquisition of the recently announced Barber Lake site in West Texas for a cash payment of $67.5 million and a variable fee of $3/MWh for the initial five years after the energization of the site.

    The site features 300 MW of front-of-the-meter capacity, a newly constructed, fully energized, high-to-mid voltage substation, and all necessary regulatory approvals. As part of the transaction, Cipher has acquired the 250 acres of land surrounding the substation and completed agreements necessary to participate in the ERCOT market.

    “We are delighted to close the acquisition of our new Barber Lake site, which is ideally suited for either hosting a large HPC customer or mining bitcoin. The site is immediately available with an existing high-quality substation and all the essential characteristics necessary to develop a large-scale HPC data center. Large sites with these characteristics are extremely rare, and we have already received interest in the site from multiple hyperscalers. We sold a portion of our bitcoin treasury to fund the majority of this purchase and believe we have exchanged one rare and valuable asset for an even more rare and more valuable asset – an immediately available, large-scale, interconnected site with plenty of land. We constantly assess the optimal capital allocation for our growth strategy and are thrilled to close a deal that we believe represents an ideal use of our appreciated bitcoin treasury holdings,” said Tyler Page, Cipher’s CEO.

    With this acquisition and other recently announced purchases, Cipher’s portfolio will grow to more than 2.5 GW across 10 sites.

    About Cipher
    Cipher is an emerging technology company focused on the development and operation of bitcoin mining data centers. Cipher is dedicated to expanding and strengthening the Bitcoin network’s critical infrastructure. Together with its diversely talented team and strategic partnerships, Cipher aims to be a market leader in bitcoin mining growth and innovation. To learn more about Cipher, please visit https://www.ciphermining.com/.

    Forward Looking Statements

    This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations regarding our future results of operations and financial position, business strategy, timing and likelihood of success, potential expansion of and additional bitcoin mining data centers, expectations regarding the operations of mining centers, and management plans and objectives, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).

    These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and our management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 5, 2024, and in Cipher’s subsequent filings with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contacts:
    Investor Contact:
    Josh Kane
    Head of Investor Relations at Cipher Mining
    josh.kane@ciphermining.com

    Media Contact:
    Ryan Dicovitsky / Kendal Till
    Dukas Linden Public Relations
    CipherMining@DLPR.com

    The MIL Network

  • MIL-OSI Asia-Pac: SITI commences visit to Wuhan (with photos)

    Source: Hong Kong Government special administrative region

    SITI commences visit to Wuhan (with photos)
    SITI commences visit to Wuhan (with photos)
    *******************************************

         The Secretary for Innovation, Technology and Industry, Professor Sun Dong, began his visit to Wuhan, Hubei Province today (September 24).     Professor Sun called on Vice Governor of Hubei Province Ms Chen Ping, and exchanged views on the development of innovation and technology (I&T) and new industries in Hong Kong and Hubei. At the meeting, Professor Sun introduced the Hong Kong Special Administrative Region Government’s plan and latest work on leading the development of the city’s I&T industry. He also learned about Hubei’s strengths in I&T and advanced manufacturing, particularly the development of chips and new energy vehicle industries. They also explored ways to further strengthen co-operation between Hubei and Hong Kong in technological innovation and industry development.     Professor Sun later visited the Wuhan National Laboratory for Optoelectronics of the Huazhong University of Science and Technology. It is one of the first six national research centres approved by the Ministry of Science and Technology, and is a research platform focusing on fundamental science and technology in the fields of optoelectronics for information, energy and life. Professor Sun was briefed on the laboratory’s development history, research conditions and innovation achievements, as well as the comprehensive support and services it provides to the “Optics Valley of China, Wuhan” and the development and industrialisation of the optoelectronics industry.     Professor Sun then visited the Jiufengshan Laboratory to learn about its work on promoting the development of the fundamental research of compound semiconductor in order to support Wuhan to become a global compound semiconductor innovation centre and industry cluster. In a tour of the laboratory’s chip process lines and professional testing infrastructure, he was kept abreast of the facility’s efforts in pushing forward the technological frontier by aiming at research and development (R&D), technology development, transformation of R&D outcomes as well as detection and analysis on compound semiconductor.     Professor Sun visited the Wuhan East Lake High-tech Development Zone in the evening and received an update on the development of the optoelectronics information industry cluster, as well as the efforts and achievements in building the “World Optics Valley”. Professor Sun also encouraged the East Lake High-tech Development Zone to set up accelerators and incubators in Hong Kong.      The Commissioner for Industry (Innovation and Technology), Dr Ge Ming, also joined the visit.      Professor Sun will continue his visit to Wuhan tomorrow (September 25).

     
    Ends/Tuesday, September 24, 2024Issued at HKT 21:30

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: EDB launches “Love Our Home,Treasure Our Country 3.0” joint school national education activities to celebrate 75th anniversary of founding of People’s Republic of China (with photos)

    Source: Hong Kong Government special administrative region

    EDB launches “Love Our Home,Treasure Our Country 3.0” joint school national education activities to celebrate 75th anniversary of founding of People’s Republic of China (with photos)
    EDB launches “Love Our Home,Treasure Our Country 3.0” joint school national education activities to celebrate 75th anniversary of founding of People’s Republic of China (with photos)
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         The Education Bureau (EDB) today (September 24) held the “Love Our Home, Treasure Our Country” – Celebration of the 75th Anniversary of the Founding of the People’s Republic of China and Joint School National Education Activities Kick-off Ceremony. The Bureau announced that it will collaborate with Tung Wah Group of Hospitals, Po Leung Kuk, the Hong Kong Council of the Church of Christ in China, the Lok Sin Tong Benevolent Society, Kowloon, Hong Kong Subsidized Secondary Schools Council, Hong Kong Direct Subsidy Scheme Schools Council, Hong Kong Aided Primary School Heads Association and Subsidized Primary Schools Council to jointly organise the “Love Our Home, Treasure Our Country 3.0” series of joint school national education activities in the 2024/25 school year, with an aim of deepening students’ understanding of Chinese culture and strengthening their affection for and sense of belonging to the country.      The Deputy Chief Secretary for Administration, Mr Cheuk Wing-hing; the Secretary for Education, Dr Choi Yuk-lin; the Convenor of the Working Group on Patriotic Education, Ms Starry Lee; the Division Director of the Education, Science and Technology Department of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, Dr He Jinhui, together with representatives from school sponsoring bodies, school councils and school head associations involved in the activities, jointly officiated at the kick-off ceremony. About 2 500 representatives from school sponsoring bodies and the EDB, principals, teachers, students and parents attended.      Addressing the event, Mr Cheuk said that the “Love Our Home, Treasure Our Country 3.0” joint school national education activities will further expand the scale of the event. Participating schools cover kindergartens, primary schools, secondary schools, special schools and sister schools on the Mainland. Joint school collaboration not only strengthens exchanges among schools but also combines strengths to develop resources, enabling a patriotic atmosphere and sentiments to extend continuously across school campuses in all districts of Hong Kong.      Mr Cheuk said, “Love for the country should be the value and sentiment of every Chinese national. Patriotic education and activities play an important role in nurturing the growth of patriotic sentiments.” He thanked practitioners from the education sector for remaining steadfast in their roles. Through learning inside and outside the classroom, students are given the opportunity to gain an in-depth understanding of the country’s history, culture and values from an early age, and experience the distinctiveness of traditional Chinese culture, thereby fostering their pride in being Chinese and enhancing their national pride and sense of responsibility and ownership.       The kick-off ceremony featured a variety of rich programmes, including the performance of the magnificent “Hymn to the Sun” by a joint school Chinese orchestra formed by nearly 90 students. In addition, over 100 students performed lion dances, martial arts and other dances. A choir composed of 75 principals from school sponsoring bodies, school councils and government schools marked the finale of the ceremony with a song to express their warm congratulations on the 75th anniversary of the founding of the People’s Republic of China.      Highlights of the kick-off ceremony will be broadcast on RTHK TV 31 at 1.30pm on September 28 (Saturday).

     
    Ends/Tuesday, September 24, 2024Issued at HKT 21:25

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Speech by FS at business luncheon Hong Kong-Spain: Partnering for Success (English only) (with photos)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Financial Secretary, Mr Paul Chan, at business luncheon Hong Kong-Spain: Partnering for Success in Madrid, Spain, today (September 24, Madrid time): Dr Peter Lam (Chairman of the Hong Kong Trade Development Council), Ms Jarillo (Deputy Director General for Asia, Europe and Oceania, Ministry of Economy, Trade and Enterprise of Spain, Ms Laura Jarillo), distinguished guests, ladies and gentlemen,      Good afternoon. I’m delighted to be here, in Madrid, the dynamic capital and financial heart of Spain, a city renowned for its world-class museums and fine dining and wine, not to mention the best football club in Europe, if not the world. What more can a visitor ask for?     Well, I can tell you that this speaker, and the young and energetic innovation and technology delegation here with me, are pleased to be here, with you, to talk about how Spanish and Hong Kong business can partner for success long-term, mutually rewarding success.Hong Kong, connecting Spain and Asia     Ladies and gentlemen, like Spain, Hong Kong is back in business after the challenges of the COVID pandemic, back creating opportunity for a world of business. Spain, included of course.     Hong Kong has long been recognised as one of the best connected cities in the world. Half the global population is no more than a five-hour flight away from us.     Before the pandemic, Hong Kong International Airport operated 1 100 flights a day, covering 220 destinations. Today, passenger throughput is rebounding, reaching over 80 per cent of pre-pandemic levels on peak days, with full resumption expected by year’s end.     As for cargo, our airport has been the busiest in the world for 13 of the last 14 years.     This strategic connectivity is enhanced by Hong Kong’s institutional advantages, reinforcing our role as a “super connector” in Asia.     The unique “one country, two systems” arrangement makes this possible.     As part of China, Hong Kong enjoys convenient and sometimes priority access to the vast Mainland market, particularly the Guangdong-Hong Kong-Macao Greater Bay Area, a city cluster comprising Hong Kong, Macao and nine Mainland cities in Guangdong province.      The Greater Bay Area’s collective population counts more than 87 million, with a GDP exceeding 1.8 trillion euros, surpassing that of Australia and the Republic of Korea.     And, on a purchasing power parity basis, the per capita GDP of the Greater Bay Area is US$40,000, 75 per cent of Spain’s. (Note: HK’s is US$71,500)     Hong Kong, let me add, is the most international city in China, thanks to the “two systems” that distinguish us.     We are the only jurisdiction in China practising the common law system, our judiciary exercising its powers independently. Information, capital, goods and people flow freely in and out of our city. Our taxes are low and simple, with a currency pegged to the US dollar. Our regulatory systems and professional services align with the best international standards.     Our commitment to the rule of law is exemplified by the Rule of Law Index, produced by the World Justice Project. In the latest Index, Hong Kong ranked 23rd and Spain 24th, both ahead of the United States.     Hong Kong’s enduring strengths will continue to thrive, as our country is committed to the “one country, two systems” principle for the long term. This commitment has been reiterated by President Xi Jinping on multiple occasions, and reaffirmed at various high-level state and party meetings in Beijing.     Last year, China and Spain celebrated the 50th anniversary of diplomatic ties. And those ties continue to grow. Earlier this month, Prime Minister Sanchez was in Beijing, his second trip to the Chinese capital in two years.     As political and economic ties between our two countries strengthen, Hong Kong is proud to play a pivotal role in fostering more two-way investments, and more economic, innovation and cultural exchanges.Financial Services     One obvious area where we can contribute is financial services.      Hong Kong, after all, is an international financial centre – number three worldwide, behind only New York and London, according to the latest Global Financial Centres Index, released today.     We have a robust fund-raising market. Our stock market’s total capitalisation stands at 3.7 trillion euros, while assets managed by private equity and venture capital exceed 200 billion euros. Hong Kong is the leading biotech fund-raising hub in Asia, too.     A defining feature of our capital market are the “Connect Schemes” with the Mainland. Under the schemes, Mainland investors can buy stock, bonds, ETFs and derivatives directly from Hong Kong, while foreign investors can buy similar financial products on the Mainland through Hong Kong. In short, Spanish companies looking to list or issue bonds in Hong Kong can tap the capital from both the Mainland and international markets.     Hong Kong is also the world’s offshore renminbi hub. As the use of renminbi as a trade and reserve currency increases, businesses will naturally look for renminbi-denominated investment and risk-management tools. Hong Kong handles approximately 80 per cent of global offshore renminbi transactions, offering a wide range of investment and risk-management products.     Then there’s green and sustainable finance. We have long been Asia’s leader in green finance, issuing, on average, more than 55 billion euros in green and sustainable debt a year over the past three years.     Our green standards align with the best international practices. To take an example, the Hong Kong Taxonomy for Sustainable Finance, released in May, is highly compatible with the European Union’s Taxonomy for Sustainable Activities.     For green projects looking for funding, Hong Kong is simply Asia’s premier destination.Innovation and Technology     No less important is our commitment to rise as a global innovation and technology hub, together with the Greater Bay Area.     We have what it takes to realise that ambition. Hong Kong is home to five global top 100 universities, and our two medical schools are among the world’s top 40.     We also support 29 labs and research and development centres in collaboration with prestigious universities around the world.      Our start-up system is thriving, offering a variety of innovative products in fintech, green tech, biotech, supply-chain management, big-data analytics and more. And 20 per cent of our 4 200 start-ups were founded by overseas entrepreneurs.     Many of them are based in our two main innovation flagships: Science and Technology Park and Cyberport. And you will soon hear more from senior executives from these institutions, Albert and Eric. Let me add that our delegation members, many of them founders and CEOs of start-ups, are eager to talk to you, to explore business opportunities together.     Hong Kong boasts a full-spectrum financing market, including banks, private equity funds, venture-capital funds and a well-developed stock and bond market. These provide abundant financial support for tech companies local and global, at different stages of growth.     Greater Bay Area cities, let me add, each offers distinct strengths in innovation and technology; from basic research to technological application, commercialisation, and advanced manufacturing.      This year, the World Intellectual Property Organization’s Global Innovation Index ranked the Shenzhen-Hong Kong-Guangzhou cluster second, globally, for the fifth consecutive year.     Now, allow me now to highlight a few I&T areas where Hong Kong and the Greater Bay Area offer singular advantages, starting with artificial intelligence.      Crucial to AI are algorithms, supercomputing power, data and application scenarios, all of which Hong Kong is blessed with. We serve as a convergence point for Mainland and international data. We are also investing in the necessary i
    nfrastructure, including a supercomputer centre. Hong Kong and the Greater Bay Area provide many different application scenarios for AI. Many AI companies, let me add, are choosing Hong Kong to develop their large language models and to go global.     Biotechnology is also a priority. And we are planning to conduct clinical trials for the Greater Bay Area. We are also working on a “primary evaluation system” that will allow medicine and medical devices approved in Hong Kong to be widely used in the Greater Bay Area, the Asian region and around the world.     Then there’s the Northern Metropolis, a 300-square kilometre area in Hong Kong bordering Shenzhen. The Northern Metropolis is destined to rise as an innovation and technology hub, a vast bridgehead for Hong Kong’s co-operation with other Greater Bay Area cities.     Ladies and gentlemen, that just touches on the opportunities Hong Kong is actively pursuing. But let me say that we’re particularly focused on four areas: AI, biotech, fintech and new energy and new materials. We are bringing in strategic companies to help us develop those sectors. Since the end of 2022, we have attracted over 100 tech companies to Hong Kong. Together, they will invest about 6 billion euros and create more than 15 000 jobs in our city.      We are equally keen on attracting talent. Since the launch of the new talent admission schemes and updating existing ones, to date, we’ve received some 360 000 applications under our various talent admission schemes. About 226 000 applications have been approved, and 150 000 professionals have already arrived in Hong Kong, I’m pleased to say.Concluding remarks     Ladies and gentlemen, Hong Kong offers boundless opportunities for Spanish companies – as a gateway to the Chinese Mainland and throughout Asia, and as a hub for financial services and I&T.     My thanks to the Hong Kong Trade Development Council for hosting today’s luncheon, and to our Spanish partners, including CEOC, ICEX and the Spanish Chamber of Commerce, for make this welcome gathering possible.     I am happy now to take your questions, to hear your thoughts and ideas on how our two economies and peoples can deepen our co-operation, creating far-reaching opportunities that benefit us all.     Thank you.

    MIL OSI Asia Pacific News

  • MIL-OSI USA: Friends With Paws celebrates therapy dog at Calhoun County Middle High School

    Source: US State of West Virginia

    CategoriesEnglish, MIL OSI, US State Governments, US State of West Virginia

    MOUNT ZION, WV –  First Lady Cathy Justice announced today that one of the state’s newest therapy dogs through the Friends With Paws program is thriving and doing incredible work at Calhoun County Middle High School.

    Coco is a male Chocolate Labrador Retriever and was celebrated during a Pup Rally held at the school. Representatives from the First Lady’s Office, along with students, faculty, staff, and several other local leaders, were in attendance. 

    While Coco is the 29th dog placed through the program, a total of 38 Friends With Paws therapy dogs have been placed throughout the state.

    “We are thrilled to celebrate Coco at Calhoun County Middle High School,” First Lady Cathy Justice said. “Therapy dogs like Coco offer so much more than just a friendly face—they provide comfort, reduce stress, and create a calming environment for our students. These dogs are making a real difference, offering support when it’s needed most, helping children feel safe, and encouraging emotional well-being. Coco will be a cherished companion and an important part of this school’s journey toward a brighter, healthier future.”

    The Friends With Paws program places certified therapy dogs in several schools across the state, providing companionship and comfort for students in need of a boost. 

    Therapy dogs are specially trained to provide comfort and support to people in various tense environments. They can help people feel at ease, improve their mood, relieve anxiety, and remove social barriers. Therapy dogs are highly trained and certified to show their ability to work in stressful environments, ignore distractions, and provide therapy to people with diverse backgrounds and circumstances.

    “Coco fosters meaningful relationships and provides comfort to both students and staff, showing us that compassion and connection can profoundly enhance our school community,” Michael Fitzwater, Superintendent of Calhoun County Schools, said.

    Following today’s assembly, students and staff had the chance to spend extra time with Coco.
    “Calhoun Middle High School believes that every child deserves a safe and nurturing environment to thrive,” Michelle Paxton, Principal at Calhoun Middle High School said. “Therapy dogs, such as Coco, provide unique emotional support, and we are excited to see how this initiative can positively impact our students at Calhoun Middle High School.”

    The Friends With Paws program is a partnership between the Governor’s Office, West Virginia Communities In Schools (CIS) Nonprofit, and the West Virginia Department of Education. Therapy dogs are placed in schools within CIS counties where students are disproportionately affected by poverty, substance misuse, or other at-risk situations, and are in the greatest need of a support animal. The dogs serve as a healthy and friendly outlet for these students to address trauma and other social-emotional issues.

    “Coco has made an incredible impact at Calhoun Middle High School,” Assistant Superintendent of Calhoun County Schools Jeannie Bennett-Yoak said. “His presence brings joy, comfort, and a sense of calm to our students and staff alike. We are immensely grateful to First Lady Justice, her dedicated staff, Ultimate Canine, and Communities in Schools for providing such a valuable resource. The bond Coco has formed with our school community is truly uplifting and has significantly enhanced the emotional well-being of everyone here.”

    More information about Friends With Paws can be found in Communities In Schools: Friends With Paws, a documentary produced by West Virginia Public Broadcasting. Click HERE to view the documentary.
     
    A 2019 study published by the National Institute of Health found that a dog’s presence in the classroom promotes a positive mood and provides significant anti-stress effects on the body.

    In addition, research shows that the simple act of petting animals releases an automatic relaxation response. Therapy animals’ lower anxiety and help people relax, provide comfort, reduce loneliness, and increase mental stimulation. They are also shown to lower blood pressure and improve cardiovascular health, reduce the number of medications some people need, help control breathing in those with anxiety, and diminish overall physical pain, among other profound benefits.

    MIL OSI USA News

  • MIL-OSI USA: U.S. Court of Appeals for Veterans Claims 16th Judicial Conference

    Source: US Department of Veterans Affairs

    Thanks so much to everybody. Good morning to you. Thank you for inviting me to join you for your 16th Judicial Conference.

    You had me a couple of years ago. The fact that you welcomed me back notwithstanding the intervening time as Secretary I take as a mildly positive sign. We’ll see how the reviews are on that at the end of the speech.

    Chief Judge [Michael] Allen, thank you so much for the introduction. It’s fitting that you’ve stepped up to Chief Judge during this conference because, as I gather, your introduction to Veterans law for the first time was when you accepted an invitation to speak to this very conference in 2006. And at that conference, you recognized the importance of Veterans law, and so here we are.

    Thanks for all you have done for Veterans, even before you joined this Court. You became one of the first professors with expertise in Veterans law, and you founded one of the law school clinics providing pro bono legal access for our nation’s heroes. I appreciate that one of your very first actions as Chief Judge was to introduce me just now. And so, I take that very seriously. So, thanks for that. I hope the rest of your tenure is as auspicious.

    Judge [Margaret] Bartley, also known as Chief Judge Bartley for the last five years, congratulations. And thank you for your 30 years of service to Veterans. You’ve worked to ensure that Veterans receive all the benefits and services they’ve deserved and they have so richly earned, provided them with pro bono representation yourself, clerked for this Court, been appointed as a judge on this Court, and elevated then to Chief Judge. Your service to Veterans, to the national interest, to the country, has been remarkable.

    And thanks also to all of you here at this Court, including this Court’s other distinguished judges, VA employees from the Board of Veterans Appeals and Office of General Counsel, attorneys representing Veterans before the CAVC [Court of Appeals for Veterans Claims], law professors, law students, and of course Veterans. No matter your role, you all care deeply about our nation’s heroes.

    One of the benefits of this biannual event is that it brings us all together. It might be on different sides of the table, but each one of us supports Veterans all the time.

    Let me begin where this Court began.

    During legislative hearings leading to passage of the Veterans’ Judicial Review Act in 1988, Sonny Montgomery—then-Chairman of the House Veterans Affairs Committee—said, “Accurate, informal, efficient, and fair. These are the goals which have guided the committee in … expanding judicial review of VA decision-making …. [It is] not intended to express displeasure with the BVA [Board of Veterans’ Appeals] method of reviewing claims or imply that the existing review process is unfair.”

    “To the contrary,” he said, “the committee believes that Veterans presently receive every possible consideration where the BVA reviews a case, and the committee expects that the new court will be similarly inclined.”

    That’s quite a statement from the chairman of a Congressional committee. And given that statement, and Chairman Montgomery’s observation about “Veterans [receiving] every possible consideration,” I’ve been wondering what he would think of the last few years, years which have seen significant improvements and significant developments in Veterans law.

    Two changes in particular have impacted the Veterans law landscape.

    First, the Appeals Modernization Act [AMA], implemented in 2019, has improved the appeals process—so far. The AMA has made appeals faster, it’s provided Veterans different options for addressing denied claims. But we are still operating in two separate legal systems, with different options for Veterans filing appeals, and thousands of Legacy claims being adjudicated.

    Second, President Biden’s PACT Act in 2022 greatly expanded VA health care eligibility for toxic-exposed Veterans and extended enhanced eligibility for Vietnam era, Gulf War era, and Post-9/11 combat Vets. We’re seeing Veterans file more benefits claims than ever before.

    In 2023, VA processed nearly 2 million benefits claims—a record high. So far this year, we’ve exceeded that by processing more than 2.4 million, with another 10 days left, yet, in the fiscal year, on pace to surpass last year’s record by more than 27%. The VBA grant rate for these claims is 64.2%—and as high as 75% for PACT Act claims. In 2024, the average overall disability rating granted to Veterans is 70%, with over $20,000 per year in disability compensation.

    Now, I know I’ve just listed a bunch of stats. Nearly every one of them represents all-time VA highs. But let’s remember that behind every one of them is a Veteran and their family receiving life-changing benefits and care.

    Now, breaking records is good. But it’s not good enough. Because here’s the bottom line: we have a lot of work left to do, a lot of improvement. In fact, we need to improve. We must keep Veterans at the heart of everything we do. Part of that involves the appeals process. So, let’s talk about what that looks like.

    When Veterans aren’t satisfied with decisions they’ve received, they have several recourses under the AMA, as you well know. Over the last three years, the Board of Veterans Appeals has hired more than 50 Veterans Law Judges, hired more than 350 attorneys, and has issued more decisions than ever before.

    In 2023, the Board issued 103,245 appeals decisions, again a record. And in 2024, the Board has already issued more than 111,000 decisions—another record again, with 10 days left in the fiscal year—so I don’t want any of the BVA personnel or the Board of Appeals team in the room there thinking that you can take the next 10 days off.

    The appeal rate to this Court has dipped over the last several years also. And last year, it was 7.4% of cases. However, this year there will still be about 9,000 BVA decisions appealed to this Court. Nine thousand of our nation’s heroes who have not received all the benefits they believe they’re entitled to, and in fact they believe VA has wrongfully denied them access to.

    Nine thousand.

    It’s long and complicated, and many of appeals don’t result in the outcome they desire. But it’s not simply the denial of benefits that makes Veterans unhappy. It’s the process, which can involve remand after remand and years and years of waiting.

    Each week, hundreds of Veterans send me letters. I’d estimate that a third of those express frustration—and let’s just say I’m being diplomatic here—frustration with the benefits claims and appeals process. Let me share selections from a few of them.

    In June, Travis in North Carolina wrote me: “Dear Secretary McDonough, I am a military Veteran writing to express my deep frustration with the unacceptably long wait times for decisions on VA disability claims. After sacrificing for my country, I now find myself struggling with service-connected disabilities and trapped in a seemingly endless bureaucratic process. This unresolved claim has caused tremendous stress and hardship for myself and my family. We rely on disability compensation not only for income, but for access to VA health care critical for treating my service-connected disability.”

    Later in June, I received a letter from Chris in California—U.S. Marine, Vietnam, now in his 70s. He described multiple remands from Board judges ordering tests from an orthopedic specialist and x-rays to determine service connection for arthritis. But, Chris wrote, a VA contractor sent him to urgent care, not a specialist, and sent him to an imaging center incapable of conducting x-rays. He’s still waiting to see a specialist. He’s still waiting for x-rays. Chris ended with, “I am dismayed, disappointed, even appalled that our government and country I was so excited and happy to serve at 17 years of age would treat me this way. Shame on you and on your team.”

    Shame.

    And in August, Deborah in Tennessee, emailed me. Her husband, Army Vet, had a disability compensation rating of 100%. “Since his death in 2022,” she wrote, “I’ve been trying to get widows benefits. I’ve filed, been rejected, appealed, got a Veterans assistance firm to help, but every time the VA comes up with some sort of excuse, in the hopes I’ll give up. I have to borrow money from family members just to pay utilities bills. I fear I’ll lose my home. I need help to get through the process. Please help me.”

    Now, there’s countless other Veteran letters I receive that express similar disappointment, heartache, anger, betrayal. So how can we address—alleviate—that frustration that Veterans so clearly express with our appeals process?

    Well, we do it by getting to the root of these issues.

    The Board of Veterans Appeals grants Veterans relief about one third of the time. One third.

    Yes, we have to follow the law, we want to follow the law, we do follow the law. There’s no way to wave a wand and grant every single appeal. But too many Veterans—caught in the endless churn of remand after remand, claims examination after examination, hearing after hearing—don’t trust the process. We need Veterans to trust us, to trust the appeals process, and to understand why we reach the decisions, even if, in fact particularly when, they walk away disappointed. We—the Board, this Court, private counsel—can gain trust through final decisions, and final decisions that are faster than Veterans get today.

    Look, the AMA has enabled us to make the process better, although there is still more to be done. Over the last few years, the Board’s AMA decisions result in 20% fewer remands and 10% higher grant rates. On average, final resolution of all issues in AMA cases takes between two to three years, faster than the seven to 10-year average before the passage of the AMA. But still, two to three years is too long.

    Here’s the reality. Today, Legacy appeals take about six years. That’s faster than before, but that’s still six years. None of us thinks six years is fast enough. That duration is going to tick up and up, and appeals are going to take longer and longer, because there’s 40,000 Legacy cases still at VA.

    Each year this Court remands thousands of additional Legacy cases to the Board. At any given time, 54% of the Legacy cases the Board is adjudicating have already been seen by a Board judge at least twice, nearly 30% at least three times, and almost 10% have already been adjudicated five times or more. 

    Even after the Board resolves all issues, for many Veterans the journey’s not over. It can take years to get a decision from this Court or the Federal Circuit. Typically, that decision just returns the case to the Board for further adjudication.

    I think we can do better for Veterans. I know some of you are talking about these issues in various settings, including sessions with the Bar Association. And that’s encouraging. Yes, it’s important to capture ideas and suggestions for change down the road, but let’s think about how we can help more Veterans now—improvements that VA, this Court, the private bar can implement sooner rather than later to benefit Vets. Now, none of us is immune here. We can all do better, no matter where we work.

    First, the claims examination process. Contractors speeding through compensation and pension exams, or not carrying out clear instructions on what to focus on, or conducting exams rife with inaccuracies. VA can—in fact, must—ensure that these exams are more accurate, with higher quality, leading to more resolved claims. Under Secretary [of Benefits, Josh] Jacobs and his team are working hard to implement quality measures on C&P exams—reducing unnecessary exams where we can so as to get to a decision sooner.

    Second, the Board of Veterans Appeals. I’ve challenged the Board to increase efficiencies. I’ve asked them to increase capacity, increase output. I’ve asked them to find ways to fill hearing slots that open up due to cancellations and increase appeal resolution rates so that we can reduce wait times for Veterans. I’ve also asked the Board to explore how we better inform Veterans of the expected wait times before their appeal will be issued. I know they are discussing these issues, and they’re figuring out how to do it. It’s not easy. The hiring process, which we’ve had our foot on the gas on over these last several years—also too slow.

    Remands going back and forth between the Board and this Court often aren’t productive, in my view. We’ve heard concerns that sending remanded cases back to the same Board judge may not always be the best way to get finality.

    Third, this Court. I ask you to ask yourselves, if we’re remanding 75% of appeals back to the Board, are we doing everything we can for Vets? Are we moving with efficiency and urgency? Vets don’t want to wait year after year, not knowing whether they’ll receive benefits or not. Veterans need timely, fair, final decisions on their claims, decisions that either grant their benefits, or fairly deny those benefits only after proper hearing, proper development, a full consideration of all the evidence developed, and a correct application of law. They don’t want to be stuck in legal limbo. 

    Fourth, private counsel. One of the AMA’s improvements is that it gives Veterans options besides filing an appeal with this Court. Consider whether you’re always choosing the best option for your client, especially when the Veteran, or their surviving family member, or their living family member, wants a final decision on the claim—and quickly. Is an appeal to this Court the best option for your client when you know there’s a strong likelihood of a remand, or even multiple remands, and no resolution for years and years? Or would it be better for the Veteran to file a supplemental claim that can be processed much faster than a remanded appeal?

    To everyone, please think about what happens if the system stays the same. Thousands and thousands of Veterans will continue to wait, burdened by what to them is a broken bureaucracy. They will continue to view appeals with disappointment and anger.

    What are Veterans doing to make the system work for them? They are turning to unaccredited representatives who call themselves “coaches” or “consultants,” charging Vets high amounts or outrageous percentages of future benefits. Veterans turn to these claim sharks because they promise the Veteran they’ll get a quicker resolution. And as payment, the Veteran signs over a portion of the benefits that Veteran earned serving our nation. This surely is not what we want.

    We have to do better.

    We need finality, and we need that finality more quickly. Finality in the appeals process isn’t dictated by just one factor or one specific actor. Getting to final decisions—and how we get there—depends on actions and decisions of VA, claimants, their lawyers, and judges. If we want Vets to receive benefits they are entitled to, and for their claims decided fairly and justly—which everyone in this room surely wants—we must focus on finality and achieving finality with urgency.

    Let’s consider how we make the system better for Vets. Talk about this with each other during your time here and after you leave. Because what everyone wants, I know, is for Veterans to receive all the benefits they have earned, accurately, quickly, fairly—the goals Chairman Montgomery hoped this Court would achieve.

    The President often says that our nation’s only sacred obligation is to prepare and equip the troops we send into harm’s way, and to care for them and their families when they come home. The second part of that solemn duty is VA’s to fulfill, each and every day. And in this instance, it’s not on VA alone. It’s on each of us here. Each decision at VBA, the Board, this Court, and counsel appearing before this Court has an impact on the Veteran. And often, the impact on a Veteran, their families, and survivors is, in fact, life changing.

    Remember, justice delayed is justice denied. Veterans did not hesitate to raise their hands and put their lives on the line for all of us. They didn’t say wait. So, let’s not make them wait one second longer than they have to for their hard-earned benefits.

    It’s on all of us to make that happen.

    Thanks for letting me be here today with you, and now let’s hear from you on your questions.

    Really appreciate you.

    Chief Judge, back to you.

    MIL OSI USA News

  • MIL-OSI Europe: Sweden increases 2024 humanitarian assistance by SEK 461 million

    Source: Government of Sweden

    Sweden increases 2024 humanitarian assistance by SEK 461 million – Government.se

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    Press release from Ministry for Foreign Affairs

    Published

    The Government has decided to advance its allocations to the UN World Food Programme (WFP), the UN Refugee Agency (UNHCR) and the UN Population Fund (UNFPA). This comes as humanitarian needs are increasing while these organisations’ life-saving activities are severely underfunded. Sweden is therefore augmenting its 2024 support by SEK 461 million, of which SEK 186 million will be allocated to WFP to stave off famine, SEK 185 million to UNHCR to help displaced people and SEK 90 million to UNFPA to prevent maternal mortality and combat gender-based violence.

    “We see how humanitarian crises around the world are becoming deeper and more numerous, while funding is not increasing at the same pace. A record number of people are displaced. More than a million people are on the brink of starvation in Gaza, Haiti, Mali, Sudan and South Sudan. The support we’ve approved will help the family in Darfur who lost everything when fleeing violence and conflict and, at best, might only have a loaf of bread to share for dinner tonight, or the heavily pregnant woman in Gaza who might not survive childbirth. Sweden’s development assistance makes a difference in these heartbreaking situations,” says Minister for International Development Cooperation and Foreign Trade Benjamin Dousa.

    Hunger and forced displacement are currently two of the most prominent humanitarian challenges. More than 300 million people are suffering from chronic hunger in 71 countries, and more than 120 million people are displaced from their homes. For the first time in seven years, there is famine in the world – this time in Sudan, where more than 12 million people have been forced to flee their homes since April 2023. Women and girls are often particularly vulnerable in humanitarian crises and lack life-saving maternal health care and other sexual and reproductive health services. The assessment of the UN is that more than 300 million people will need humanitarian assistance in 2024.

    At the same time, donor countries have only provided one third of the funding required. A number of humanitarian organisations are thus facing an urgent and extremely strained situation. These include the central UN agencies – UNHCR, WFP and UNFPA – where liquidity shortages are currently threatening their ability to help people in need. It is therefore particularly urgent that the Government disburse Sweden’s support to these UN agencies now, earlier than planned, when their life-saving operations are needed most. Sweden will also provide SEK 185 million to UNHCR and SEK 133 million to WFP in remaining funds that the Government approved earlier this year. Sweden is providing a total of SEK 779 million to these three UN agencies – much needed additional funding for an important cause.

    Sweden is one of the world’s largest humanitarian donors. Every day, Swedish kronor help people with the most pressing humanitarian needs. This government decision means that Sweden is taking even greater responsibility for helping people who are displaced, suffering from famine, lacking maternal health care or subjected to gender-based violence. At the same time, more actors must renew their efforts to reduce humanitarian needs and expand the humanitarian donor base.

    Press contact

    MIL OSI Europe News

  • MIL-OSI USA: Governor Hochul Discusses Youth Mental Health at Summit

    Source: US State of New York

    Earlier today, Governor Kathy Hochul participated in a Concordia Summit Fireside Chat on Youth Mental Health in New York City.

    VIDEO: The event is available to stream on YouTube here and TV quality video is available here (h.264, mp4).

    AUDIO: The Governor’s remarks are available in audio form here.

    PHOTOS: The Governor’s Flickr page will post photos of the event here.

    A rush transcript of the Governor’s remarks is available below:

    Penny Abeywardena: Good afternoon. So, we’re going to talk about something that really should be on the top of minds for all of us, and that is the many aspects of phones and schools to explore today. And there is no one better to reflect on this than our mom-Governor, Governor Hochul.

    So there are two massive clusters of changing norms colliding over this past decade. Parents driven a lot by anxiety and concerns have been buying smartphones for their kids. How do I keep my kids safe in school? With mental health challenges and bullying, how can I make sure my kid is okay during the day?

    And then, can I ensure my kid is keeping up with the technology? And then let’s not forget that the smartphone and video game and social media industries have focused on maximizing and monetizing screen time. So now these trends are complex and interdependent, but there is leadership that is going to help address this. And so it is a pleasure to be in conversation with Governor Hochul on this.

    Now, I want to know what your aha moment is, and I do think this is a moment to reflect on personal experience. We were just talking backstage, I have an eight-year-old in the public school system here in New York City. This became a big issue over the last few weeks. And I was properly shocked because he’s eight. And so this is something that quite honestly all of us need to be thinking about. And so, Governor Hochul, through your personal experiences or insights, can you tell us what influenced you to really focus on this issue from a legislative perspective?

    Governor Hochul: Thank you, Penny, and for Concordia for elevating this issue. I was here last year talking about climate change, and I’m always happy to talk about that. I can give you the speech I gave a few hours ago. But this is something a year ago I would not have thought we’d be talking about here. But I am so happy that this has finally taken hold because as a mom, a parent, you are hardwired to protect your children. Full stop. You wake up in the morning, start thinking about them when they’re little, late at night when they’re out with their friends you don’t sleep until they’re back home. That’s how we are. And as the Governor of New York, my number one job also has to be to protect all New Yorkers.

    So, you asked what my aha moment was. About a year and a half ago, I started convening mental health roundtables because we knew we were starting to see the signs that young people in particular had not fully emerged from the pandemic. They are still stressed out. The statistics on suicide, especially for teenage girls contemplating suicide, the depression, the anxiety, it was off the charts. So, I started having meetings and gathering kids and talking all over the state, and there was one not that long ago where the young woman – we started talking about the impact of social media and how it really takes hold of them. They’re held captive to these algorithms that are designed to bombard them with information that they will like because it’s taking personal information about them and turning it around and pulling them in deeper and deeper.

    And I said to this young woman – she was telling me how “I’m getting bullied during the day and all these social media and everybody’s doing this and I’m missing out and I have FOMO,” I said, “What do you want us to do?” She goes, “You have to save us from ourselves.” And that was my aha moment, when I realized it’s hard for parents to say you’re going to be the only teenager in the school without a cell phone, it’s hard for the school district to take it on and say, “We’re going to be the heavies,” teachers have enough on their plates, they don’t have to be the enforcers. And I realized this calls for government intervention, and I’m not afraid to take on the fights, especially when we’re fighting for our kids’ mental health.

    That was when I said, “Let’s find out what we can do to control these social media companies,” and we can talk about our nation-leading legislation, but also I’m right now developing a policy that’s going to say, “Bell to bell, full school day, phones should not be in the hands of children because they’re being denied the chance to learn, the teachers are frustrated that they’re not paying attention anymore, but also it has taken them to negative places, and it’s horrible for their mental health.”

    Penny Abeywardena: It really is. And different levels at different ages and grades, the impact is even more optimized, right?” Now, it would be great if you could talk about the significance of the first-in-the-nation law you signed to combat addictive social media feeds. And I will say, I hope many of you realize this, Instagram changed their policy last week, and I’m assuming it’s because they’re seeing the serious movement that’s coming from around the country, led by –

    Governor Hochul: Well, that’s true. In the era of – waiting for industries to self-regulate in the best interest of consumers is probably never going to happen. So, I’m not holding my breath. We encourage the tech companies, social media companies to work with us. Obviously, you’re always threatened by lawsuits. And I said, first I have a lot of lawyers, I can hire any lawyer in the state I want so bring it on. But I’d rather not. I said, “Why don’t you get out of the courtroom and come into my conference room and help devise solutions, because you know what you’re doing. You know exactly what you’re doing. You design these algorithms that’ll capture all this personal data about any age, a 10-year-old, 12-year-old, 15-year-old,” and they’re using it to structure messaging around your interests.

    We worked with them, they resisted, they built a campaign against us, they spent a lot of money. And I was able to work with our Attorney General, Tish James, here in New York, and legislators, and work with a coalition of parents and Common Sense Media, and formed a coalition where we were able to fight back. And our legislation – which we encourage every other state to adopt, I hear California’s looking at this now – it basically says a couple of things: one, is you cannot collect private data about anyone under the age of 18. You can’t collect it, you can’t sell it. You cannot monetize our children’s mental health any longer, you’re barred from that. Secondly, you are forbidden, barred from being able to target young people with algorithms designed based on their tastes.

    Now, a young person is not prohibited from going to your sites. They can talk, they can go to all kinds of chat rooms, they can talk to their friends, they can do whatever they want. But you cannot target them. And that was a heavy lift for them, and it’s a heavy lift to get through in legislation, but we did it. I just signed it into law a few months ago, and I’m really proud of it.

    We’re working on the regulations, but I always think about the fact that they told us, “Well, we have no capacity to identify who’s under the age of 18. This is an impossibility.” It’s like, “You’re tech companies, you can do anything, figure it out.” And somehow, magically, Instagram announced last week, they figured it out.

    I have immense faith in their ability to solve problems even if it’s against their self-interest.

    Penny Abeywardena: And that’s really bringing everybody to the table. When we think about the efficacy of what you’ve been able to do, it really came down to really strategic collaborations. Can you talk about how you worked not only with parents and teachers, but unions? We talked about authorities and the police; I’d just be curious how everybody’s playing a part in all of this?

    Governor Hochul: That’s a great question because you can’t go into these battles alone, right? You have to have allies as you march into war. And here’s what we needed to have. First of all, many parents on their own have said they know how bad it is. They’ve seen their children, especially if they were able to get a cell phone at age 12, 13, 14, they turn into a different person. First of all, they lose the capacity over time to have real, genuine social interactions. They don’t make eye contact. They don’t talk to other students. In school, the cafeteria is silent. They’re silent when they’re in the schoolyard. They’re silent in the halls. And the school districts that – on their own – were courageous enough to ban them said they now hear children laughing, talking, even arguing, they’re communicating more.

    And it was stopped. It was a dead silence. It was so unnatural. So, I had to get teachers on board, that was the easiest one. 72 percent of teachers across this country say that they are tired of the distractions and their inability to communicate with students or make connections in a way that are positive relationships.

    This is, outside a parent, the most influential person in their lives is a teacher. And the teacher is trying to do the best they can, and they’re being thwarted. They’re not learning, but they’re also not making connections.

    They’re stunted in their growth. They’re not turning into young adults eventually, over time, and ultimately adults. And we needed teachers on board, principals on board, school districts on board, and I said in all my – I did roundtables all over the state with all these parties at the table. I said, “I’ll be the heavy, just blame me, say, ‘that mean Governor made us do this,’ I mean I’ll take that on.” Because as a mom, I know how important this is and it would have helped me enormously to tell my kids, “I would have let you have the cell phones in school, but hey, it’s the law, I can’t let you do that. I still love you and I’d let you do anything else.”

    It’s about relationships, the ability to say no, which I have no trouble saying to my kids, but some do. But I also need law enforcement, and this is interesting, because my kids were in middle school during Columbine, the very high-profile mass shooting, and you still say the word ‘Columbine,’ I get chills because I know what it did to my sense of security. And we have so many other cases since then, I just spoke about Uvalde at another forum.

    So I thought, I have to think about how this affects parents’ sense of security when they say goodbye to their most precious little child, whether it’s kindergarten or 12th grade. I talked to law enforcement, what they said was so striking. If there is a crisis on campus or in the schoolyard, in the school, a mass shooting, worst case scenario, the last thing you want children to be doing, the last thing, is looking at their cell phone, texting mom and dad, sending messages, maybe videoing because they want to be the one who captures this. First of all, you’re telegraphing where you are, okay? You’ll hear this. Also, the police said to me the place their attention has to be is not on their smartphone, it has to be on the front of the classroom where the teacher is going to lead them to safety.

    When I heard that, it was like the clouds parted. I said, that’s the argument for parents. They need to hear that. So we’re not through yet. I’ve proposed this and loosely I said I’m going to be developing a policy. I will be working with these same groups I just mentioned. Everybody to let them understand how important this is and it’s also when I think about employers in my state, I want to be able to let them know that when young people emerge from their educational process, they’ll be fully functioning adults who have social interaction skills, who’ll be able to have the creative collisions and talk to someone else, a colleague, and work in teams and strategize together and really be more productive instead of someone who’s, again, their existence for a number of years has just been with the virtual world.

    And I can’t control what happens after school. Like my nieces are on all night long. I said, who are they talking to all night long? Isn’t anybody sleeping? And so they’re not, because they’re talking to kids on the other side of the world, literally. So we also say no notifications, and parents have the ability to turn it off. Sorry, kids, you can’t have it on from midnight until 6 a.m. I think Instagram actually said 10 p.m. to 7 a.m., which I thought was extraordinary. So parents are being empowered. So now we have to educate the parents. This is what it looks like, this is how you handle it, and when your teenager gets, tries to get around it, this is how you undo what they did. We have to help the parents get through this as well, but ultimately, imagine a world where this never happened. We’re not dealing with these high rates of depression and anxiety in young people and the bullying that goes on in schools.

    One mom said her husband has to leave work every day to be there at the end of the day when the child comes home from school because he gets picked on so badly on his own cell phone, watching it all day long, people are saying that he’s about to commit suicide and they want to keep an eye on him.

    If that doesn’t hit you as a parent – what is happening? But a world where we say, no cell phones, we just go back to the way it was when we were younger.

    Penny Abeywardena: Yeah.

    Governor Hochul: And if you need to – forget your lunch or you need to figure out how you’re getting home at the end of the day, guess what? There’s phones in the office. It’s a radical idea. Go down the hall, talk to your counselor, talk to your principal, can I use the phone?

    Penny Abeywardena: Talk to someone.

    Governor Hochul: And maybe forget your lunch and you go hungry; you won’t do it the next day. That’s called learning about life, right? Consequences. So it’s, that’s how I was raised. I don’t know. Maybe I’m old school, but I want to save our kids. It’s this important. I have to work on this intensely to at least save our state’s kids and hopefully other states will follow. And a number have, there have been other states that have done it.

    Penny Abeywardena: I was curious what kind of advice you would give to other state lawmakers because we talk about these coalitions as groups, but they’re important constituents who vote. So they’re concerned about making parents angry and losing that support. And I’d be curious what strategies and ideas you would offer to other state lawmakers to take this on.

    Governor Hochul: Just looking at it globally, the easiest thing in the world is to do nothing. Just wait for someone else. “It’s too hard.” Believe me, there’s a lot of challenges in New York to be a lot easier to pass on to somebody else. And that has happened. And I’m the cleanup Governor. I have a lot of work to do to try and invest, we never invested in mental health in the state.

    For example, never, no one ever talked about mental health as if it was an issue at all. I invested a billion dollars in my first budgets and said, we have to deal with everything from the lack of training for more professionals to be in the field to school-based clinics, so we can treat the kids right in schools if they have challenges to the homeless on the subways, more beds in hospitals. We looked at it holistically and we’re making real progress. So my advice to them is just show some profiles and courage once in a while. Shock everybody. Do something that’s a little bit difficult on the front end, but we’re in the world to make a difference.

    And these positions are positions of great authority, but they also hold a lot of responsibility for us. If you’re not making a difference every single day when you’re in a position like I am, then just stay in bed. I mean just don’t even bother because your job is to make a difference. Find problems – the easy problems my brilliant staff will solve, the hardest ones are on my desk and that’s what a Governor is supposed to do. It’s just, and if you’re not going to fight for kids, who are you wanting to fight for? That’s a statement about your values.

    Penny Abeywardena: And building on that. So there’s a middle ground, right? There are these bags you can have in school, so the kids get their phones, they get to show up at school with their phones, but then put them in. We had an interesting conversation backstage, and I was wondering if you can share, you know, our kids are smart.

    Governor Hochul: Yeah, kids are very smart. There are a few school districts in New York, Schoharie School District, up near the Capitol. They went full board, they did it a couple years ago, they said it was hard, there was a lot of resistance, parents said no, teachers didn’t want to be enforcers, and now they’re so glad they didn’t. And people now, and they had signs in front lawns, protesting taking cell phones away from kids.

    Give me a break. So I know it’s coming. I know it’s coming. But, these, so they have these bags, and there’s all sorts of ways to do this, but there’s these bags that are magnetic. Teacher watches the children put them in the bag at the beginning of the school. Only the teacher can unlock it so at the end of the school day they’ll get their phone back.

    No one’s going to steal it. It’s safe. Some kids are showing up at school, the teachers told me, with two cell phones. They lock one up in front of the teacher. Okay, kids have burner phones now? Okay, or what parent is buying their kid two cell phones? Okay? And then they use the other one all day.

    The other thing I think is important for parents to know. One of the teachers, she said, “We have to deal with the integrity issues.” I said, “What’s that mean?” It’s a nice way of saying they’re cheating. The whole world, all the answers are sitting there on their lap, and they’re not learning because they don’t have to. Or they run off to the lavatory with their phone, even the schools that ban it but let you have it during lunchtime or during breaks. They’re looking up information that they’re never going to learn properly from. And people say they’re not going to learn how to use technology. What do you think they’re doing the second they get home?

    They have all night long they’re doing that. I can’t control that. That’s up to parents. The last thing I’ll say on this is – parents, watch what you’re doing too. Kids learn from you. If you won’t put down the cell phone at the dinner table, or when you’re talking to them after dinner, by the time they’re mid-teenagers, they don’t even want to see you, so work on them before that. I believe I speak from experience. But show the kids they matter. Go to one of your meetings and leave your cell phone on your desk. The world will not fall apart. Somehow, we got to this age of 2024, surprisingly, throughout most of history, without being able to be connected and scrolling while your boss is talking to you, or while your colleagues are trying to present something. Just show basic respect to each other. Let’s not forget those skills. Respect each other, put down the phone.

    Penny Abeywardena: Put down, and that they’re paying attention to you and what you’re doing. I want to, we’re about to run out of time, but you mentioned, can we just talk about the investment that you made in mental health and other educational initiatives. Can you just share some of the programs and initiatives you have coming up that essentially reinforce this legislative –

    Governor Hochul: Yes. Again, one of the most significant things we’re doing is the mental health services in schools. Yeah. And so we’ve had to ensure that we’re funding workforce training for a whole new generation of more people going into the mental health professions, because I can open up a clinic in every single school. I could never staff it. I have to work with the unions and the training programs and put money behind this and training in hospitals. And so part of ours is creating a whole new generation of more healthcare workers, especially focused in this area. So that’s one big area, but I would say this, we also just need services, wraparound services from the get-go. My job is to make sure that our children emerge with healthy minds and not needing a lifetime of mental health services because we didn’t do our jobs when we had them in school.

    Penny Abeywardena: That is a perfect conclusion. Thank you so much, Governor Hochul.

    MIL OSI USA News

  • MIL-OSI Translation: Tax strategy: an ambitious plan for purchasing power

    MIL OSI Translation. Government of the Republic of France statements from French to English –

    Source: Swiss Canton of Vaud – news in French

    This plan is part of the major balances built into the legislative programme and constitutes one of the most ambitious cantonal tax reforms for individuals, including progressive and financially absorbable measures.

    It also serves as an indirect counter-project to the popular initiative “Tax cuts for all: restoring purchasing power to the middle class” – considered excessive – and which the Council of State opposes.

    Press release of September 24, 2024

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI Europe: Global Partnership Statement on Gendered Disinformation

    Source: Government of Sweden

    The text of the following joint statement was released by the Governments of Australia, Chile, Denmark, France, Iceland, the Republic of Korea, Spain, Sweden, New Zealand, the United Kingdom and the United States of America

    The undersigned country members of the Global Partnership for Action on Gender-Based Online Harassment and Abuse (Global Partnership) call attention to the urgent need to counter the spread of gendered disinformation and address all forms of technology-facilitated gender-based violence (TFGBV) against women in political and public life.  

    Gendered disinformation is a threat to societies defending peaceful, democratic values. False or misleading gender and sex-based narratives are being used in campaigns by malign actors to deter and discredit the participation of women, girls and LGBTQI+ persons in political and public life. This not only causes deep harm to the individuals targeted, but also threatens electoral integrity, access to information and the exercise of freedom of expression. At the same time, new and emerging technologies are being used to enable harmful, violent rhetoric and attacks against women, girls and LGBTQI+ public figures across borders at a scale and speed previously unseen.

    In our 2023 Road Map, the Global Partnership committed to promoting the meaningful participation in public life for women and girls, in all their diversity, by countering TFGBV and gendered disinformation.  

    We welcome the work being done to shine a light on how and why gendered disinformation is conceived, who it targets and how it is spread. Last year, in a groundbreaking study, Canada, the European External Action Service, Germany, Slovakia, the United Kingdom, and the United States jointly assessed the tactics used by foreign state and non-state actors to sow gendered and other identity-based disinformation across the world. 

    In March 2024 the Global Partnership and members of its Advisory Group co-hosted a multi-stakeholder conference convened by the National Democratic Institute on possible responses to countering the spread of gendered disinformation in the context of electoral processes. Stakeholders affirmed the need for a comprehensive response to disrupt the spread of gendered disinformation and to support victims and survivors. 

    The world is at a critical moment for upholding democracy. More than 100 countries have held, or are soon to be holding elections, many of them taking place under democratically challenging circumstances. The active participation of all people, including women, girls and LGBTQI+ persons, is essential for secure, healthy and prosperous democracies.    

    We call upon states to join us in recognising and taking action to counter the threat of gendered disinformation to democracies globally. We urge technology and other private companies to take appropriate action to respond to this threat, including a commitment to a Safety-by-Design approach to the development and deployment of platforms and technologies. We ask states and all stakeholders to defend and protect the ability of women, girls and LGBTQI+ persons to participate in public life freely, safely and without fear.

    MIL OSI Europe News