NewzIntel.com

Category: Economy

  • MIL-OSI China: China’s first RRR cut for financial institutions in 2025 takes effect

    Source: People’s Republic of China – State Council News

    BEIJING, May 15 — A 0.5-percentage points reduction in the reserve requirement ratio (RRR) for eligible financial institutions takes effect Thursday, with the move expected to inject roughly 1 trillion yuan (about 139 billion U.S. dollars) of long-term liquidity into the financial market.

    The RRR cut, the first such move since the start of this year, was announced last week by the People’s Bank of China, China’s central bank.

    The RRR cut was among a raft of supportive measures that also included policy rate cut and increased financial support through relending facilities announced by monetary and financial regulatory bodies recently, as the world’s second-largest economy steps up efforts to stabilize markets and sustain economic recovery amid external headwinds.

    Also starting Thursday, the RRR for auto financing and financial leasing companies is slashed by 5 percentage points to zero percent, with the cut expected to increase the credit supply capacity of these two types of institutions in their respective fields.

    MIL OSI China News –

  • MIL-OSI China: China’s Sichuan strives to boost brain-computer interface industry

    Source: People’s Republic of China – State Council News

    China’s Sichuan strives to boost brain-computer interface industry

    Xinhua | May 15, 2025

    Southwest China’s Sichuan Province has joined other cities and provinces in an effort to make the region a national leader in brain-computer interface (BCI) and human-machine interaction technologies.

    The Sichuan government released an action plan on Monday, outlining ambitious targets for the province to achieve before 2030. These targets include conducting 3,000 invasive BCI surgeries every year, assisting over 100,000 patients with neurodegenerative, mental health or digital addiction issues, and applying BCI-based rehabilitation devices for more than 20,000 users annually.

    The action plan was jointly released by eight government departments, including the provincial department of economy and information technology.

    According to Chengdu Jasmines Bio Tech Inc., a Sichuan-based biotech company dedicated to developing clinical applications for neurodegenerative diseases, the policy is expected to boost innovation, strengthen industry collaboration, and expand application scenarios, opening up greater opportunities for business growth.

    Sichuan’s plan is part of a broader national push. Since the beginning of this year, local governments across China have rolled out a series of favorable policies to support the development of the BCI industry.

    In January, Beijing released an action plan focused on expanding funding channels and encouraging early-stage investment to accelerate the sector’s growth.

    Shanghai followed with its own initiative, aiming to tackle key scientific challenges in BCI technology and promote product innovation through improved integration of resources.

    According to Qianzhan Industry Research Institute, the global BCI market was worth 1.98 billion U.S. dollars in 2023 and is expected to surpass 6 billion dollars by 2028.

    The institute predicts that China’s BCI market will surpass 120 billion yuan (about 16.68 billion U.S. dollars) by 2040, with a compound annual growth rate of about 26 percent. 

    MIL OSI China News –

  • MIL-OSI Banking: APEC Forecasts 2.6% Growth in 2025, Urges Action to Eliminate Trade Policy Uncertainty Jeju, Republic of Korea | 15 May 2025 Issued by the APEC Policy Support Unit Economic growth in the APEC region is forecast to moderate to 2.6 and 2.7 percent in 2025 and 2026, a sharp drop from the 3.6 percent growth recorded in 2024.

    Source: APEC – Asia Pacific Economic Cooperation

    Growth in the APEC region is expected to slow sharply in 2025, as escalating trade tensions and policy uncertainty weigh on investment and trade, according to a new economic report released by the APEC Policy Support Unit ahead of the Ministers Responsible of Trade Meeting in Jeju.

    While challenges persist, the report highlights an opportunity for member economies to strengthen cooperation and build resilience through structural reforms and open trade.

    Economic growth in the APEC region is forecast to moderate to 2.6 and 2.7 percent in 2025 and 2026, a sharp drop from the 3.6 percent growth recorded in 2024. This downward revision underscores the persistent weight of policy uncertainty on the regional economy, especially in areas such as trade and investment. The report also draws attention to mounting structural challenges.

    “From tariff hikes and retaliatory measures to the suspension of trade facilitation procedures and the proliferation of non-tariff barriers, we are witnessing an environment that is not conducive to trade,” said Carlos Kuriyama, Director of the APEC Policy Support Unit.

    “This uncertainty is hurting business confidence and leading many firms to delay investments and new product launches until the situation becomes more predictable,” Kuriyama added.

    The report shows that economic and trade activity across the 21 APEC member economies has slowed considerably. APEC’s export volume is projected to grow by just 0.4 percent in 2025, while import volume is expected to rise by only 0.1 percent. This marks a steep decline from 2024, when export and import volumes grew by 5.7 percent and 4.3 percent, respectively.

    Kuriyama emphasized that rising protectionist moves and unfair trade practices—such as increased subsidies—have created an environment where firms are pausing decisions and holding back on cross-border activities.

    “What worries us a lot is that all of these uncertainties could affect jobs,” he said.

    The report also notes that financial markets have reacted to the uncertainty. The global volatility index spiked to 52 points in April, more than triple the 2023–2024 average, while gold surged to USD3,200 per troy ounce in early May as investors fled to safe-haven assets.

    “The global economic picture is highly fragile,” said Rhea C. Hernando, an analyst with the APEC Policy Support Unit. “General government debt across APEC is projected to hit 110 percent of GDP through 2030. At the same time, we’re confronting long-term demographic shifts, including a shrinking workforce and an ageing population. The fiscal and structural stress is real.”

    Adding to these concerns, the report highlights a rising wave of discriminatory non-tariff measures, in particular subsidies measures distorting trade.

    “Fragmented and reactionary trade policies are becoming the norm,” said Glacer Vasquez, co-author of the report. “While some economies pursue trade-facilitating reforms, these are often offset by inward-looking protectionist measures. This divergence is hampering regional cohesion.”

    Despite these headwinds, the report emphasizes that the current moment presents a critical opportunity for economies to work together. Kuriyama urged APEC economies to recommit to cooperation and stability. He noted that restoring confidence in trade requires not only easing tensions, but also expanding into new markets, strengthening supply chain resilience and improving transparency of trade rules and procedures.

    “This is not the time to retreat behind borders. This is the time to double down on cooperation,” he concluded. “Through collective action, APEC economies can navigate uncertainty and lay the groundwork for a more resilient, prosperous future.”

    Read the APEC Regional Trends Analysis, May 2025.

    For further information or media inquiries, please contact:
    [email protected]

    MIL OSI Global Banks –

  • MIL-Evening Report: Return of the huia? Why Māori worldviews must be part of the ‘de-extinction’ debate

    Source: The Conversation (Au and NZ) – By Nic Rawlence, Associate Professor in Ancient DNA, University of Otago

    A museum specimen of the extinct huia. Wikimedia Commons/Auckland Museum collection, CC BY-SA

    The recent announcement of the resurrection of the dire wolf generated considerable global media attention and widespread scientific criticism.

    But beyond the research questions, there are other issues we must consider – in particular, the lack of Indigenous voices in discussions about de-extinction.

    It is undeniable that biotechnology company Colossal Biosciences achieved a major scientific breakthrough. It has successfully changed the genome of a vertebrate species, introduced desired traits, and created apparently healthy hybrid wolf pups.

    The main scientific criticisms were that genetically engineering gray wolves with dire wolf traits doesn’t constitute de-extinction. And regardless of the achievement, we still have to ask whether we should bring back extinct species in the first place.

    But given the company’s goals of resurrecting species significant to Indigenous groups, including the thylacine (Tasmanian tiger) and the moa, it is vital Indigenous views contribute to decisions.

    Gene technologies in conservation

    Colossal Biosciences’ achievement shows the potential of new gene-editing technologies to contribute to conservation efforts. This could include introducing desirable traits into threatened species or removing harmful ones.

    It could even mean creating ecological equivalents of extinct species, as the company has suggested.

    In Aotearoa New Zealand, hapori Māori (tribal groups) are the kaitiaki (guardians) of many threatened taonga (treasured) species. There is growing international interest in the resurrection of some of New Zealand’s extinct birds, including the moa, Haast’s eagle and huia, despite Māori concerns.

    Their voices in this debate are crucial, as are those of other Indigenous groups when biotech proposals are relevant to them.

    Colossal Biosciences has an Indigenous Council (made up of North American Indian Nations) and has established an advisory committee for the thylacine de-extinction project with Indigenous representation.

    New Zealand has lost several bird species, including the moa, Haast’s eagle and huia.
    Paul Martinson, CC BY-SA

    But in our engagements with Māori from around the country over the past decade, we’ve found virtually no Māori support for the de-extinction of taonga species.

    Lost ecosystems and opportunity costs

    One reason we have heard involves a lack of suitable habitats for de-extinct species. Most of Aotearoa New Zealand is highly modified, with only 25% of native forest remaining. This requires ongoing predator control.

    That means there are very few suitable sites to release de-extinct species. For some lost ecosystems, there is no suitable analogue at all. The effort required to establish and manage sites would be substantial.

    There would also need to be ongoing financial resourcing to support kaitiaki responsibilities, which would be expected of Māori communities within whose rohe (traditional boundaries) de-extinct species might be released.

    In our view, kaitiaki prefer gene technology funding to be spent on applications that support their guardianship role, such as environmental DNA. Or they would like it expanded for the management of remaining and often threatened taonga species.

    Without new funding, there is a real opportunity-cost risk of money being pulled from other areas, potentially resulting in further extinctions of endangered taonga species.

    In all likelihood, maintaining a genetically diverse population of a de-extinct species (with at least 500 individuals) would be a challenging exercise, given how slowly New Zealand’s taonga species breed.

    Treaty breaches and tikanga

    Without meaningful Māori support and involvement, the release of a de-extinct species would effectively constitute a breach of Article Two of te Tiriti o Waitangi (the Treaty of Waitangi). The te reo Māori version states Māori have exclusive rights to taonga.

    This is also the essence of the Waitangi Tribunal WAI262 claim that Māori have intellectual property rights over flora and fauna. Māori have whakapapa (genealogy) relationships with taonga species and a moral obligation to look after their welfare and the taiao (environment) they are in.

    This has led to concerns that altering the whakapapa of an existing species to resemble another species is unnatural and disrespectful (compared to natural hybridisation). This could have negative consequences for hybrid species as well as other organisms and the taiao.

    Hybrids may not be sufficiently adapted to existing threats (such as introduced mammalian predators) or the new environments they find themselves in. Conversely, they could be so well adapted they disrupt the ecosystem and become a pest.

    There are long-held concerns that Māori have been excluded from conversations about applying gene technologies. This is despite the successful use of tikanga-based frameworks (customs) for evaluating specific uses of the technologies in individual cases.

    These concerns include potential biopiracy, bioprospecting and trademarking of taonga species by overseas companies. They are echoed in submissions to the draft Gene Technology Bill, which all but eliminates Māori consultation on the release of genetically modified organisms into the environment.

    Looking to the future

    Without substantive Māori involvement, internationally led and resourced de-extinction of a taonga species could well become yet another negative colonisation experience.

    Such conversations need to involve a wide range of Māori, and employ tikanga-based protocols, to ensure sufficiently thorough and holistic evaluation of potential de-extinction projects.

    There is currently nothing to stop biotechnology companies utilising specimens of taonga species housed in museums worldwide.

    We argue that addressing these issues and reaching a national consensus should be a prerequisite for any application of gene-editing technology in conservation, whether it is to suppress pest species or support struggling taonga species.

    Many of the concerns raised by Māori will no doubt be shared by Indigenous people around the world. They need to be part of the conversation and critical commentary around de-extinction and potential reintroduction of organisms into the wild. Their knowledge of environmental management, which dates back hundreds to tens of thousands of years, is something we must learn from.

    Phillip Wilcox receives research funding from various NZ government sources. He is co-chair of Te Ira Tātai Whakaeke Trust, a Māori-owned charitable trust aimed at promoting ethically appropriate use of genomic technologies for the benefit of Māori communities, particularly Māori health.

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

    – ref. Return of the huia? Why Māori worldviews must be part of the ‘de-extinction’ debate – https://theconversation.com/return-of-the-huia-why-maori-worldviews-must-be-part-of-the-de-extinction-debate-255605

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Hawley, Kelly Introduce Bipartisan Bill to Support Law Enforcement Recruitment and Retention

    US Senate News:

    Source: United States Senator Josh Hawley (R-Mo)

    Wednesday, May 14, 2025

    Today, U.S. Senators Josh Hawley (R-Mo.) and Mark Kelly (D-Ariz.) introduced the Educational and Career Opportunities for Public Safety (EdCOPS) Act, bipartisan legislation to address staffing shortages in law enforcement by providing educational benefits to public safety officers and their dependents.  
    “There is no profession more honorable than one that keeps our streets safe. Our men and women in uniform deserve Congress’ full support. I’m proud to co-sponsor legislation this National Police Week and prove to law enforcement that we have their back every step of the way,” said Senator Hawley.
    “As the son of two police officers, I know how important it is to have experienced, trusted officers on the job. But right now, law enforcement agencies across the country are struggling to recruit qualified candidates and losing the people who know their communities best,” said Senator Kelly. “By expanding education and career opportunities, we’re helping officers build a more secure future for themselves and their families. It’s an investment that will help departments keep the experienced, dedicated officers that protect our communities.”  
    Law enforcement agencies across the country face a historic crisis in hiring and keeping qualified officers. The EdCOPS Act would help agencies attract and retain experienced officers by offering financial assistance for higher education to public safety officers who have served for at least eight years with a single employer and agree to serve an additional four years. An eligible public safety officer can transfer unused education benefits to a dependent. 
    Read the full bill text here.

    MIL OSI USA News –

  • MIL-OSI USA: Booker, Warren, Pressley Reintroduce Legislation To Suspend Garnishments for Student Loan Borrowers

    US Senate News:

    Source: United States Senator for New Jersey Cory Booker

    WASHINGTON, D.C. — Today, U.S. Senators Cory Booker (D-NJ) and Elizabeth Warren (D-MA), along with U.S. Representative Ayanna Pressley (D-MA-07), reintroduced the Ending Administrative Wage Garnishment Act of 2025, legislation that would provide borrower relief and support by suspending garnishment as a tool for student debt collection by the federal government.

    On April 22, 2025, the Department of Education announced that, starting May 5th, it will resume collections on defaulted federal student loans, including wage garnishments, tax refund interceptions, and seizure of Social Security benefits. For the nearly 5.5 million people currently in default—and soon for the projected 8 million additional people in delinquency—this means that they will face the government’s harsh collection tactics for the first time in over five years. This shift coincides with mass firings at the Department of Education and limited access to income-driven repayment plans, leaving students without critical support to navigate the repayment process.  

    “Wage garnishment allows the government to instruct employers to withhold up to 15 percent of an individual’s hard-earned wages, as well as intercept tax refunds, and seize Social Security benefits in order to collect student loan debt,” said Senator Booker. “If resumed, this harmful practice will hurt millions of Americans already struggling to make ends meet while paying off their student loans. This legislation will put an end to the Trump’s administration’s attempt to punish vulnerable student loan borrowers.”

    “It’s cruel for the Trump administration to restart collections while it crashes the economy and fires employees that help people navigate the loan repayment system,” said Senator Warren. “Our commonsense bill stops the administration from going after working people and improperly taking a chunk of borrowers’ paychecks.”

    “No one should have their hard-earned wages, tax refunds, and Social Security checks seized by Donald Trump—and our bill would ensure they do not,” said Representative Pressley. “The Trump Administration should not be in the business of picking the pockets of our most vulnerable borrowers, gutting the Department of Education or exacerbating the student debt crisis. I am proud to partner with Senators Booker and Warren to push back against this Administration’s shameful garnishment tactics and stand up for our student borrowers.”

    “Amidst unprecedented economic uncertainty and as millions of working families are struggling with the rising costs of everyday essentials, the Trump Administration’s calloused decision to unleash abusive and uncontrollable collection tools that have the power to take borrower’s hard earned wages without safeguards. Instead of helping the 5 million borrowers that have fallen into default and the millions more that are behind and now at risk of default later this year, this Administration appears set on inflicting massive economic harm on millions of Americans—a decision that will further drag down an already struggling economy,” said SBPC Policy Director Aissa Canchola Banez. “We applaud Senator Booker and Congresswoman Pressley for introducing the Ending Administrative Garnishment Act which will rein in the Secretary of Education’s authority to subject borrowers to administrative wage garnishment and ensure that critical safeguards are in place.”

    The Ending Administrative Wage Garnishment Act of 2025 would:

    1. Suspends the Secretary of Education’s authority to garnish wages, tax refunds, Social Security checks, or other earned benefits.
    2. Mandates the Department of Education to:
      1. Promptly refund improperly garnished wages within one week.
      2. Establish the ability to independently suspend or terminate garnishment operations upon identifying errors.
      3. Ensure employers verify garnishment information quarterly.
    3. Prohibits garnishment on loans that have been outstanding for more than 10 years.
    4. Establishes a private right of action allowing borrowers to sue employers who improperly garnish wages after a garnishment order is suspended.
    5. Requires the Department to pay double damages to borrowers whose wages are improperly garnished.

    To read the full text of the bill, click here.

    MIL OSI USA News –

  • MIL-OSI USA: Wicker Encouraged by Trump-Zelensky Deal

    US Senate News:

    Source: United States Senator for Mississippi Roger Wicker

    On February 24, 2022, Russia rolled tanks into Ukraine, expecting to conquer its neighbor in a matter of weeks. The free world rallied to supply military, economic, and humanitarian aid to the Ukrainian people, who have fought valiantly against the thugs invading their homeland. Now, three years later, President Donald Trump and Ukrainian President Volodymr Zelensky have signed an economic investment agreement. The deal plants a flag regarding America’s intentions toward Ukraine, and it could help pave the way to peace and freedom in that war-torn country.

    The new plan was negotiated by the president, his Treasury Secretary, Scott Bessent, and his Ukraine envoy, respected American General Keith Kellogg. It sets in motion a more formal, binding pact. Ultimately, Ukraine and the United States will create a jointly owned fund to give America a real stake in Ukraine’s post-war commerce. The eastern European country has vast energy resources – including natural gas, oil, and critical minerals. President Trump is working to rebuild our critical minerals supply chains, and I am advancing legislation that would fund those efforts. Ukraine will be a key part of that work.

    President Trump Sends a Message to Putin

    With these terms, President Trump brings the credibility of the American economy to a nation poised for stability and growth. The president campaigned on a pledge to end the brutal war unleashed by Russian dictator Vladimir Putin, who has consistently rejected President Trump’s offers to engage in peace talks. Instead, he has tried to wear down Ukraine’s resolve by bombing non-combatant civilian neighborhoods.

    After the attacks, President Trump stated that Putin “has to be dealt with differently.” Treasury Secretary Bessent echoed those comments, labeling Putin a war criminal. As the administration pursues peace negotiations, it is taking into account Putin’s character, aware that he will respond only to strength.

    The agreement clearly indicates that America is committed to the long-term peace of Ukraine. Additionally, the president has taken more steps to assist Ukraine by approving the transfer of American air-defense systems to the country.

    Ukraine Understands the Stakes

    The Ukrainians are also sending a message. When he signed this agreement, President Zelensky showed that his people will work with the United States to increase the security and prosperity of both our nations.

    From day one of this war, Ukrainians have refused to bend the knee to Putin. They know better than anyone the lengths he will go to accomplish his goals. He has unleashed horrors on thousands of Ukrainians – even women, children, and Christians traveling to and from Palm Sunday celebrations. He has formed increasingly tight bonds with the dictators who control North Korea, Iran, and China.

    Russian success in Ukraine would embolden each of those rogue nations. For his part, Putin would gain strategic military positions on the borders of countries we are treaty-bound to defend. Stopping Putin now can weaken his resolve to threaten even more of the free world.

    Lasting Peace Comes Through Strength

    In the long run, lasting stability will be made possible only by strengthened Ukrainian and European militaries, supported by U.S technological and strategic resources. The Biden administration handcuffed Ukraine by slow-walking the tools it needed to stop Putin. President Trump is correcting course and strengthening the U.S. military at the same time

    For the past year, Presidents Trump and Zelensky have been echoing Ronald Reagan’s “peace through strength” philosophy. They both believe that the best way to avoid conflict is to prepare for it. President Trump has already started working to rebuild U.S. military readiness so that no adversary dares to move against America.

    Under his direction, the Pentagon can work with Ukraine to produce more weapons and create new defense relationships. Both steps will improve security for both nations. As Ukraine plans its recovery from Putin’s war, we must work together to deter the next dictator from starting one.

    MIL OSI USA News –

  • MIL-OSI USA: Sullivan, Hirono Introduce Legislation to Increase Funding for USDA Program Supporting Farmers and Ranchers in Alaska and Hawaii

    US Senate News:

    Source: United States Senator for Alaska Dan Sullivan

    05.14.25

    WASHINGTON—U.S. Senators Dan Sullivan (R-Alaska) and Mazie Hirono (D-Hawaii) this week reintroduced the Reimbursement Transportation Cost Payment (RTCP) Revitalization Act, legislation to secure additional funding for the U.S. Department of Agriculture (USDA) RTCP Program. The RTCP program enables geographically disadvantaged farmers and ranchers in Alaska, Hawaii, and other insular areas to receive reimbursements for costs incurred when transporting supplies such as feed, fertilizer, and equipment parts. This legislation also increases the amount of funding these producers can receive.

    “Alaska’s farmers and ranchers face greater obstacles getting their goods to market due to our state’s vast size, many remote communities, and general lack of infrastructure,” said Sen. Sullivan. “I’m glad to join my colleagues in Hawaii to support a vital USDA program that makes it possible for these hard-working Alaskans to support our economy and feed their fellow Americans from the bounty of our great state.”

    “Farmers, ranchers, and other agricultural producers work tirelessly to provide healthy and fresh produce for their communities, and those located in geographically disadvantaged areas deserve to be fairly compensated for the lengths which they go to transport supplies,” said Senator Hirono. “As we continue working toward increased agricultural sustainability, I am glad to reintroduce this bipartisan legislation to support food producers in Hawaii, Alaska, and other insular areas, helping to ensure that local producers can continue their work as valuable food sources in their communities.”

    The RTCP program was established in the 2008 Farm Bill in recognition of the increased costs producers face in geographically disadvantaged areas. USDA began administering the program in 2010 and throughout its history, demand for this popular program has substantially exceeded available funds. In addition to Alaska and Hawaii, the program is also available to farmers, ranchers, and producers in Puerto Rico, Guam, American Samoa, the Northern Mariana Islands, the Federated States of Micronesia, the Republic of the Marshall Islands, the Republic of Palau, and the Virgin Islands.

    Due to the increase in both demand for the program as well as costs for producers, the RTCP Revitalization Act aims to secure additional funding for the program. Specifically, the bill would:

    • Provide mandatory funding for RTCP, starting with $10 million in fiscal year (FY) 2026, increasing by $1 million each year to $15 million in FY 2031, and then provides $15 million each fiscal year thereafter;
    • Remove the $15 million payment cap for any given fiscal year that is currently in statute;
    • Provide language saying that the Secretary may not impose a cap to individual producer payments for any fiscal year that program funds exceed demand; and
    • Retain the authority for appropriators to fund the program.

    In addition to Senators Sullivan and Hirono, the legislation was also cosponsored by Senator Brian Schatz (D-Hawaii).

    The full text of the legislation is available here. A one-page summary of the bill is available here.

    MIL OSI USA News –

  • MIL-OSI: RYVYL Ceases Negotiations to Restructure Pre-funded Asset Sale

    Source: GlobeNewswire (MIL-OSI)

    – Buyer intends to close the pre-funded asset sale –

    SAN DIEGO, CA, May 14, 2025 (GLOBE NEWSWIRE) — RYVYL Inc. (NASDAQ: RVYL) (“RYVYL” or the “Company”), a leading innovator of payment transaction solutions leveraging electronic payment technology for the diverse international markets, has ceased discussions to restructure the terms of the pre-funded asset sale of its RYVYL EU subsidiary. The Company expects the buyer will now take the final steps to close the pre-funded asset sale.

    About RYVYL

    RYVYL Inc. (NASDAQ: RVYL) was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business, and peer-to-peer payment transactions around the globe. By leveraging electronic payment technology for diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants, and consumers around the globe. www.ryvyl.com

    Cautionary Note Regarding Forward-Looking Statements

    This press release includes information that constitutes 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. These forward-looking statements are based on the Company’s current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements that are characterized by future or conditional words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information.

    By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements. Risk factors affecting the Company are discussed in detail in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

    IR Contact:
    David Barnard, Alliance Advisors Investor Relations, 415-433-3777, ryvylinvestor@allianceadvisors.com

    The MIL Network –

  • MIL-OSI China: McIlroy signs on for 2025, 2026 Australian Open

    Source: People’s Republic of China – State Council News

    World No. 2 golfer Rory McIlroy will headline Australia’s most prestigious tournament in 2025 and 2026, organizers announced on Wednesday.

    The government of Australia’s state of Victoria said in a statement that Melbourne will be the home of the Australian Open for the next two years, with Northern Ireland’s McIlroy committing to play in both tournaments.

    Rory McIlroy of Northern Ireland celebrates with the trophy after winning the 2025 Masters golf tournament at Augusta National Golf Club in Augusta, the United States, on April 13, 2025. (Xinhua/Wu Xiaoling)

    The Victorian government and Golf Australia announced that the 2025 tournament would be held at the Royal Melbourne Golf Club from December 4 to 7 and that Kingston Heath Golf Club would host the 2026 event.

    Both courses are on the Melbourne Sandbelt, a renowned golfing region some 20 kilometers southeast of the city center.

    “I’m proud to be committing to the Australian Open for the next two years, especially with it being played on the world-class Melbourne Sandbelt, somewhere I’ve always wanted to play professionally,” McIlroy said in a statement.

    The announcement comes after McIlroy in April won The Masters Tournament for the first time, completing a career grand slam of golf’s major championships.

    The 36-year-old McIlroy won the Australian Open in 2013 when it was played in Sydney. He has not played a professional tournament in Australia since 2014.

    Australia’s 9News network reported that McIlroy will be joined in the 2025 field by top-ranked Australians Cam Smith, Min Woo Lee and Adam Scott.

    Steve Dimopoulos, Victoria’s Minister for Tourism, Sport and Major Events, described McIlroy’s commitment to play at the Australian Open as a “major coup” that will be “fantastic” for the state’s visitor economy. 

    MIL OSI China News –

  • MIL-OSI New Zealand: Greens launch reckless attack on family farming

    Source:

    “The Green Party’s proposed asset and inheritance taxes would be a reckless attack on intergenerational family farms,” says ACT MP and dairy farmer Andrew Hoggard.

    The ‘Green Budget’ includes a 2.5% annual tax on a couple’s net assets over $4 million and a 33% tax on inheritances over a $1 million threshold.

    “The Greens’ proposed taxes on assets, trusts, and death would see land held within the family for generations sold off just to pay the tax bill. We’d see a scarring effect on rural communities, a sledgehammer to rural investment, and food production shifted offshore.

    “The Greens seem to have a real hard time understanding the difference between realised gains and unrealised gains. Whilst a farmer may have assets it doesn’t mean that in every single year you have great weather and great commodity prices to generate a profit, in some years you have poor prices and poor weather, meaning you end up borrowing just to look after the farm and your staff, under this plan you would also be borrowing to pay your wealth tax.

    “With the inheritance tax this could very well force many farming families off the land in the event of an untimely death of a family member. The surviving family members would be left with a tax bill and the only way to settle it may well be selling the farm. This was the outcome in past when we last had an inheritance tax in this country.

    “Either the Greens just dislike farmers, or they forgot about us when scribbling new taxes on the napkin. They’ve decided anyone who owns a decent slice of land is a rich prick. Chlöe Swarbrick should speak to the farmers I’ve met – or any farmer – who face seasonal financial stress the likes of which she could never imagine.

    “The end result of these policies would likely be a lot less family farms out there. Probably replaced by Soviet-style collective farms as this seems to be where they draw their agricultural inspiration from.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: David Seymour: Address to Craigs Investment Partners

    Source:

    ACT Leader David Seymour: Address to Craigs Investment Partners Auckland

    Introduction

    Thank you to Craigs Investment Partners for hosting me today.

    Every three years, we elect a new Parliament. Every year, we get a new Budget. And every Budget brings a flurry of headlines, hot takes, and handouts. But too often, what’s missing is a long view, a vision that extends beyond the next fiscal year, the next election, or the next political sugar hit.

    In other words, instead of looking towards the next election, we should be thinking about the next generation.

    Right now, New Zealand is in the middle of a repair job. After years of economic mismanagement and runaway spending, this Government is trying to patch the roof while the rain still falls. ACT supports that effort. But we also ask a bigger question: what comes next? Not just in the next quarter or the next Budget, but in the next few decades.

    Because building a stronger economy starts with a long-term economic vision. A vision that restores freedom and personal responsibility to the individual, and rewards effort and innovation.

    In a week’s time the Government will be revealing Budget 2025. It will detail the Government’s specific spending and revenue choices, key new infrastructure investments, the path for borrowing and debt and our plans for strengthening the fundamentals of the New Zealand economy.

    New Zealand has gone through a tough few years of high inflation, high interest rates and little to no real growth. The Government has been running big deficits and accumulating debt. I’m proud to be part of a government that is slowing the spending of previous governments and making savings so we can fund the things that are most important.

    Inflation and interest rates have been beaten back. Government doesn’t control every factor influencing them, but we can control our own spending. The Government’s commitment to spend less and maintaining that discipline over four years has helped win the war on inflation and interest rates.

    Last week, Brooke van Velden MP made long-overdue changes to a broken pay equity system. As usual, Labour and the unions responded with scare tactics and misinformation. The fact is that Brooke’s changes bring back common sense. Pay equity claims will still be possible – but they’ll need real evidence of discrimination, not assumptions. That means a system that’s fair, workable, and sustainable for the long term.

    The reason I bring this up is because Brooke’s fixes will have major budget implications, billions of dollars that balance the books and allow investments in important areas like health and education. She’s managed to do it in a way that means claims can still progress in cases of genuine sex-based discrimination – but if you’re a librarian looking to get a pay rise comparable to a fisheries officer then you’re out of luck.

    Not many MPs would have the guts to take a controversial piece of work like this and progress it for the greater good. Brooke has shown what ACT is bringing to this Government – a willingness to take on tough issues and stand by our principles. This approach needs to be replicated and applied across a wider range of issues in order for New Zealand to tackle long-term issues.

    Looking beyond a four-year cycle

    Next week’s budget will take another step in the right direction for economic recovery. But while short-term repair is essential, we also need a long-term vision. What happens beyond this four-year cycle?

    Previous Labour Budgets offered headline-grabbing sugar hits, ‘Wellbeing Budgets’ that felt good in the moment but lacked staying power, they essentially worked to pick a group, give them some money, and promote their generosity. The point that was often missed was that to give money to that group someone else had to stump up, probably your children and grandchildren. Now, this Government is carrying out the hard, necessary work by cutting unnecessary spending and reinvesting in core areas. But what comes next?

    When it comes to government spending, New Zealand is standing on a burning platform. Last year, even as our population grew slightly, thanks to births and inbound migration, our economy shrank by one percent.

    But here’s the real kicker: $10 billion of what the government spent was just to pay interest on existing debt. And next year? We’ll pay interest on the interest. The consequence? Government debt is forecast to soar past $200 billion in 2026.

    Our national debt is growing by almost $2 million an hour, or more than $47 million a day.

    As of the first quarter of 2025, New Zealand’s unemployment rate stands at 5.1 per cent, the highest in 4.5 years. Employment growth is minimal, and wage inflation has decelerated. At the same time, the doubling of debt we saw under the previous government is the new normal with $234.1 billion in debt by 2028/29, that’s $46,800 for every man, woman and child in this country today. The opposition is quick to deny responsibility. But let’s be real – it was under them debt went from 20-40 per cent of GDP. We are now projected to see a slowing and a decline. It was under Labour that inflation rose to 7 per cent and hollowed out the economy, it is under us that we have seen it come down to the usual low levels.

    This is not sustainable. Not if you want your children and grandchildren to experience the same opportunities you once had.

    And the challenges don’t stop there. There’s a demographic tailwind in our population growth, that’s becoming a headwind when it comes to balancing the books.

    Our population is aging fast. Every year, around 60,000 people turn 65 and become eligible for superannuation.

    We cannot keep ducking the big questions. Because what’s coming is not just a fiscal ripple, it’s a tidal wave that will envelop the country.

    The global economy is more interconnected than ever before. As a small, open economy, New Zealand won’t escape the next global shock.

    When Grant Robertson cranked up the money printers, blame was levelled at Putin, Covid, and cyclones. But crises are a fact of life, not an excuse for policy failure. It would be too easy for this Government to blame Trump. But a resilient country must be prepared regardless of who or what is happening around them.

    In the 1990s, New Zealand demonstrated that resilience. Years of smart fiscal policy took our net core Crown debt from 55 per cent to just 5.4 per cent by 2008. Critics called it ‘austerity.’ But they’re still crying austerity when debt is 42.5 per cent. In 2019, pre-Covid, Jacinda Ardern’s Government was spending 28 per cent of GDP. In 2024, spending was 33.1 per cent of GDP. I don’t recall Labour being accused of austerity. But journalists and commentators find the current Government guilty of austerity when it spends 5 per cent of GDP more. Get real.

    When the Global Financial Crisis and Covid hit, we were ready. Fast forward to today. That 5.4 per cent is now 42.5 per cent. Net core Crown debt has exploded from $10.3 billion in 2008 to over $175 billion today.

    How did we get here?

    Well, the simple answer is out of control spending from irresponsible governments. We’ve been here before. After the Muldoon Government’s reckless spending nearly bankrupted the country, it took the Lange Government and Sir Roger Douglas’s economic reforms to steer us back from the brink.

    Growth and ambition

    New Zealand’s population is expected to reach 6 million by 2043. That’s a good thing. We should be encouraging our best and brightest to stay, and welcoming innovative minds from around the world. We have the wide-open spaces and natural beauty to attract people, but not the ambition or economic opportunity to retain them judging by the roughly 69,100 New Zealand citizens choosing to leave in the year to February 2025.

    We’ve tried spending more and the result was more debt and many of the same problems. In fact, if there’s one thing Grant Robertson taught us all it’s that we can’t spend our way out of this mess. Without radical policy change, there is no plausible path that avoids long-term fiscal and social collapse.

    So what can we do?

    Smaller, smarter government

    We should make government itself more efficient. Fewer ministers, fewer departments, and clearer accountability. New Zealanders don’t need 82 portfolios to live better lives. They just need a government that does its job, and then gets out of their way.

    It’s a shift away from the idea that the government exists to solve every problem by creating a minister named after it. And towards a view that the government’s job is to manage your money responsibly and provide core public services that allow you to go about your life, respecting your property rights.

    If the Government was truly focused on outcomes rather than optics, we’d have fewer ministers but higher standards. We’d have fewer bureaucrats, but better services. We’d be empowering New Zealanders to make their own decisions, not adding layers of officials to make them for us.

    Our proposal is to have:

    • Only 20 Ministers, with no ministers outside cabinet
    • No associate ministers, except in finance
    • Abolish ‘portfolios’, there’s either a department or there’s not
    • Reduce the number of departments to 30 by merging them and removing low-value functions
    • Ensure each department is overseen by only one minister
    • Up to eight under-secretaries supporting the busiest ministers, effectively a training ground for future cabinet ministers

    More personal choice in education and health

    A lot of the biggest problems we face as a nation can be solved by ensuring the next generation has access to a great education.

    While our Government has made a lot of improvements in this area, banning devices that were destroying children’s concentration, bringing back charter schools to ensure there is more flexibility and choice in the system, and returning logic and common sense to the curriculum in key areas like literacy and numeracy, many parents still ask, how do we spend $330,000 on every child’s education and still get these results?

    What if we gave New Zealanders a choice?

    With $333,000 per student over a lifetime, how many families would choose a better option if they had control over that money instead of handing it over to the Government. Like a KiwiSaver account, parents and students would be able to see the balance of funding that is available and make choices about how to fund an education.

    It is taking power away from the bureaucracy and back to the people. The only way to ensure New Zealand’s schools become leaders rather than laggards is to have an education system that is responsive to parental demand rather than political orthodoxy.

    We can apply the same concept to the health system. How do we spend $6,000 per citizen annually on health, and still end up on waiting lists?

    What if every person could opt out of the public health system and take their $6,000 to buy private health insurance? Many would. And many would be better off.

    We shouldn’t have a default position of tax and spend for every public service. If the past few years have taught us anything it’s that taxing and spending more doesn’t lead to greater outcomes. Giving people greater control over their own lives would bring about real change.

    Zero-basing government

    We need to stop assuming government departments and activities should continue because they always have. It’s easy to think of New Zealand companies that no longer exist. Anyone shopped at Deka lately? Read the Auckland Star? Got a loan from South Canterbury Finance? Had Mainzeal put anything up for you? Anyone here had a night in thanks to Video Ezy this decade?

    For a variety of reasons those national brands along with a lot of other local businesses are gone. Basically, if they don’t deliver better than anyone else could, they go. But when was the last time you heard of a government department being surplus to requirements and closed down?

    How many zombie departments and zombie bureaucrats does this country have? People who just carry on collecting a pay cheque for their own purposes instead of any public purpose. Why do we put up with the idea that government can get bigger, but it can never get smaller?

    ACT says we need to zero base government. By that I mean going back to zero and asking ourselves, if the departments and bureaucracies we have now didn’t exist, would we establish them today?

    We would ask every department to answer the simple question; if you didn’t exist, who would notice and why?

    The justifications will have to fit with a robust view of what government can, and can’t, do.

    • Can the private sector provide this service?
    • Is there a genuine conflict between citizens’ interests that cannot be resolved without government intervention?
    • What are the costs and benefits of this activity, and do the benefits outweigh the costs?

    The size of government would be reduced dramatically by eliminating activities that don’t fit with these simple questions.

    Tackling the hard conversations

    We need a serious conversation about the future of retirement income. Not because it’s easy, but because it’s essential.

    We need to face facts on superannuation. People are living over ten years longer than they were two generations ago, and they are having fewer children to pay taxes for superannuation. That means we need to consider whether our current approach is fair or sustainable. This could mean increasing the age by two months per year until it reaches 67. Someone who is currently retired would see no difference from this policy. Someone who is currently 64 would be eligible for superannuation two months later than currently planned. Sooner or later, a Government will need to address this.

    The Winter Energy Payment makes a big difference for a lot of Kiwis, but for a lot more it lands in a special account that gets put aside for a holiday fund. Why don’t we ensure that the Winter Energy Payment went to those who needed it. It could be restricted to over-65s who hold Community Services Cards and recipients of main benefits.

    Then there’s the corporate welfare. It took political courage for Sir Roger Douglas to ditch the agriculture subsidies and ask farmers to embrace the market. Looking back, I don’t think you’d find a farmer who wouldn’t agree that it was the right decision.

    Why don’t we just let people keep more of their taxes and spend and invest their money the way they’d like to?

    Between health, education, pensions, and welfare you have around $95 billion, a massive chunk of the government’s budget. The question isn’t whether we’re spending enough in these areas, it’s how we can find more productivity growth so New Zealanders get better services.

    Cutting red tape

    Housing and infrastructure costs are out of control not because of material costs, but because of government regulation. The RMA, excessive building codes, and earthquake regulations are driving prices sky-high. Reform is long overdue.

    The Government is doing a huge amount of work in this area, most importantly by delivering a property rights based RMA – a concept ACT has fought hard for.

    Long term, there will need to be a change in attitude when it comes to lawmaking. The Regulatory Standards Bill is one tool to do this, bringing transparency to lawmaking so when a politician makes a silly populist law, they’ll need to justify it to the public.

    I think the Regulatory Standards Bill could have prevented many of the issues we’re dealing with today. Take earthquake regulations. In Auckland the chance of a major seismic event is roughly one in 110,000 years, yet property owners there are still being forced through costly assessments and upgrade requirements designed for high-risk areas.

    It makes no sense. These one-size-fits-all rules are driving up costs and pushing down property values without delivering meaningful safety benefits. Instead of scaring owners into unnecessary spending, good policy would have adopted a risk-based approach that targets genuine seismic threats, not bureaucratic box-ticking.

    These law changes are costly, mainly in lost productivity for decades to come. The Government’s default position should be not to regulate. Regulation should be the exception, not the rule. We must trust people, not bureaucracy.

    The challenge

    If we carry on in the current direction, we won’t remain a first-world country. We’ll be a middling island in the Pacific, lamenting the opportunities we let pass us by.

    There is a way forward. But it starts with honesty.

    We must rebuild New Zealand as a country that works, not just for today, but for generations to come. That means putting power back in the hands of people. That means cutting waste, reforming entitlements, and restoring ambition.

    It means choosing freedom over control, responsibility over excuses, and aspiration over resentment.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Parliament Hansard Report – Ngāti Hāua Claims Settlement Bill — First Reading – 001472

    Source: Govt’s austerity Budget to cause real harm in communities

    NGĀTI HĀUA CLAIMS SETTLEMENT BILL

    First Reading

    Hon PAUL GOLDSMITH (Minister for Treaty of Waitangi Negotiations): I seek leave to present a legislative statement on the Ngāti Hāua Claims Settlement Bill.

    DEPUTY SPEAKER: Leave has been sought for that course of action. Is there any objection? There is none and leave has been given. That legislative statement is published under the authority of the House and can be found on the Parliament website.

    Hon PAUL GOLDSMITH: I move, That the Ngāti Hāua Claims Settlement Bill be now read a first time. I nominate the Māori Affairs Committee to consider the bill.

    [Authorised reo Māori text to be inserted by the Hansard Office.]

    [Authorised translation to be inserted by the Hansard Office.]

    In March I was welcomed on to the Ngapuwaiwaha Marae in Taumarunuito sign Te Pua o Te Riri Kore, the Ngāti Hāua deed of settlement. It was a great occasion, and I’ll never forget it. The sun was shining in Taumarunui and I received a warm greeting. I want to thank the members of Ngāti Hāua who have gathered to watch the bill being read for the first time, both here in the gallery and online across the motu. You have shown great strength and determination in coming to this point.

    It was a special occasion. I did make the mistake of deciding to drive myself from Auckland to Taumarunui and I got a ticket on the way back, but that’s by the by. I’ll set that aside. Today marks a significant milestone for in the shared history of Ngāti Hāua and the Crown, and it’s a testament to the commitment of everybody involved that the Ngāti Hāua settlement journey has been a long one and it’s important today to remember and pay tribute to leaders and the many whānau members who passed on before they could see the fruits of their efforts.

    One significant leader was the late chair of the Ngāti Hāua Iwi Trust, Eugene Taupene who passed away in 2020 in the midst of the COVID-19 lockdowns. I personally didn’t have the honour of meeting Eugene but his rich legacy has guided these negotiations. I want to acknowledge and thank the Ngāti Hāua negotiation team for their collective effort—the chair Graham Bell and his team. Your wisdom, patience, and determination were critical in achieving this settlement, which truly promotes reconciliation.

    On the Crown’s side I acknowledge the work of my predecessors, the Hon Christopher Finlayson and the Hon Andrew Little. I particularly want to acknowledge the work of the Chief Crown Negotiator, Dr John Wood. I want to thank my ministerial colleagues, Crown agencies, local authorities, and members of Parliament who are here today to mark this occasion.

    Today’s speaking marks another milestone for Ngāti Hāua in their settlement journey. Negotiatons started in 2017 but Ngāti Hāua have been looking for justice for generations. As Ngāti Hāua negotiations manager Aaron Rice-Edwards said, “We’ve been an iwi that has been pushed in the shadows but we’ve always been a tough fighting iwi. We never give up. It’s taken us over 160 years to come to this point, to realise that vision of riri kore (no more fighting.)”

    The settlement is grounded in the Crown’s acknowledgments and apology for its many breaches of Te Tiriti. I formally delivered the Crown apology to Ngāti Hāua at the signing of the deed of settlement in March. During the ceremony we all felt the enduring hurt of Ngāti Hāua. The day was a poignant reminder of the importance of the Crown recognising and acknowledging its wrongdoings. At the ceremony I also spoke of the statutory pardons for Ngāti Hāua tīpuna and Mātene Ruta Te Whareaitu and Te Rangiātea, which are facilitated through the Ngāti Hāua settlement. Alongside the deed, this bill records the Crown’s treatment of Te Rangiātea and Mātene and the resulting intergenerational stigma and mamae experienced by their uri and by Ngāti Hāua. This bill will enact long-overdue statutory pardons for these Ngāti Hāua tīpuna who were treated so harshly by the Crown.

    In recognising the harm caused, we’ve worked with Ngāti HHāua to build a redress package that addresses these grievances, provide for the return of 64 sites of deep cultural significance to be transferred as cultural redress, including sites that will be jointly vested with some other groups, a cultural revitalisation fund, recognition of the innate connection of Ngāti Hāua to their rohe, and their obligations as tangata tiaki, through a range of mechanisms such as Te Pou Taiao a joint management committee, relationship redress with many Crown agencies, and financial and commercial redress of $19 million for the right to purchase a number of commercial properties.

    The deed of settlement also recognises the importance of Te Pou Tikanga to Ngāti Hāua, the innate values that underpin Ngāti Hāua’s aspirations for Treaty settlement and the vision for a restored relationship with the Crown.

    It’s my hope that this settlement will mark the beginning of a strengthened relationship between Ngāti Hāua and the Crown, based on mutual trust, cooperation, and partnership.

    Madam Speaker, friends: no settlement can fully compensate for the loss and prejudice that Ngāti Hāua people suffered. Through this settlement the Crown hopes to retore its honour and alleviate Ngāti Hāua’s deep sense of grievance. Today is about looking forward to the future while acknowledging the long and difficult journey it’s taken to get there.

    I believe that the settlement lays the cultural and economic foundations for Ngāti Hāua to reestablish their connection with their rohe, strengthen their identity, and provide for a stronger cultural, social, and economic future for generations to come.

    I think there are huge opportunities in the decades to come for Ngāti Hāua, particularly the new generation coming through, to thrive and prosper and build on the opportunity that is provided here, and to restore particularly economic prospects. I acknowledge that this is the first reading of three to support the passage of this legislation through the House, and my preference is that the bill should proceed without delay to the Māori Affairs Committee so that we can progress this settlement as soon as we can. I commend this bill to the House. Tēnā koutou, tēnā koutou, tēnā koutou katoa.

    DEPUTY SPEAKER: The question is that the motion be agreed to.

    MIL OSI New Zealand News –

  • MIL-OSI Canada: Reminder: Extension to submit financial security during CARM transition period ends on May 20

    Source: Government of Canada News (2)

    May 14, 2025
    Ottawa, Ontario

    The Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) system was launched on October 21, 2024. A transition period was introduced to give commercial importers additional time to post their financial security electronically while continuing to benefit from the Release Prior to Payment (RPP) Program. This transition period is ending at 3 am EDT on May 20, 2025.

    The CBSA strongly encourages importers to enrol in RPP and make arrangements to post financial security before the end of the transition period. Once enrolled in the RPP Program and security is posted, importers are not required to visit a commercial office to pay for the duties and taxes owed at time of release of their commercial shipment. RPP enrollment also means that importers can avoid longer paper-based process and higher processing times. Importers who are not enrolled in RPP will have to pay all duties and taxes at a CBSA office before goods can be released at the border.

    The CBSA has also published a Customs Notice 25-22 reminding importers that the transition period will be ending and providing additional information on how goods can be processed efficiently at the border. Importers are encouraged to consult this Customs Notice and take any action required prior to May 20.

    Every year, over 99 per cent of the 29 million released goods are cleared using RPP as it offers a highly facilitative process. The CBSA is aware that the end of the transition period impacts importers who have not yet adapted to the new process. To ease this transition, the CBSA has been consistently communicating this change and preparing operational procedures to ensure border fluidity is maintained.

    There are also steps that transporting carriers and freight forwards can take today for a smoother border crossing experience on May 20, such as:

    The CBSA introduced several measures, which were developed with input and feedback from stakeholders, to make this transition easier. These included: 

    • Importers with a CARM Client Portal account or a history of importing commercial goods into Canada within the past four years were granted a 180-day period with an additional 30 day extension within which goods could still be released prior to the payment of duties and taxes without requiring the importer to give a security. New importers could also benefit from the remainder of the transition period upon enrolment in the CARM Client Portal following the Release 3 implementation in October 2024;
    • A 12-month broker business number transition period to support the use of broker business numbers, in certain scenarios, to submit accounting on behalf of their importer clients who have not yet registered in the CARM Client Portal;
    • The CBSA also installed 117 Kiosks with access to the CARM Client Portal at CBSA commercial sites across the country;
    • Reallocated staff to support the implementation of CARM, including more staff to assist the CARM Client Support Helpdesk;
    • Published web content, including customs notices and user guides, promoting on social media, updating using news releases and direct messages to importers, hosting hundreds of webinars; and,
    • Published a list of financial security providers that have been accredited by the CBSA.

    The CARM Client Support Helpdesk is available to provide support and the CBSA has added resources and a dedicated work flow for CARM registration enquiries. User guides and the CARM Go-Live Playbook are also available on the User Guides web page to help clients navigate the CARM Client Portal. Clients requiring support for Electronic Data Interchange or Application Program Interface may contact the CARM Technical Support Unit. 

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: Tackling the housing emergency

    Source: Scottish Government

    Increasing housing supply and reducing temporary accommodation use.

    A range of measures have been taken by the Scottish Government to increase investment in housebuilding and help reduce the number of households in temporary accommodation since declaring a housing emergency last year.

    Actions taken in the last year include:

    • Investing £600 million in affordable housing in 2024/25. £40 million of which was used to purchase properties and bring empty social homes back into use.
    • Helping to reduce the number of households in temporary accommodation in 12 council areas, according to the latest figures.
    • Making an additional £1 million available to Registered Social Landlords and third sector organisations to prevent homelessness and support people to stay in rented accommodation.
    • Boosting supply through other funding models, including the Charitable Bonds programme which has seen investment of £46m in the past year, supporting the delivery of 325 homes.

    Further action will be taken in the coming year to continue to tackle the housing emergency and ensure more people can access a safe and affordable home, including:

    • Investing £768 million in this financial year in affordable housing, which will support the delivery of 8,000 homes for social and mid-market rent and low-cost home ownership.
    • Providing local authorities with £15 billion this financial year for a range of services, including in homelessness services.
    • £2 million invested through the Scottish Empty Homes Partnership to continue to reduce the number of privately owned empty homes.

    Commenting, Social Justice Secretary Shirley-Anne Somerville said:

    “Providing everyone in Scotland the right to a warm, safe and affordable home is essential to our key priority of eradicating child poverty. The measures we have taken have meant increased investment in the affordable housing sector and fewer families living in temporary accommodation.

    “As a result of our actions, an estimated more than 2,600 households with children have been helped into affordable housing in the year up to December 2024.

    “We have delivered 136,000 affordable homes, with 97,000 of those for social rent, between 2007 and the end of December 2024. We are also working to identify and turn around empty private and social homes and encouraging more funding streams into the sector through our Housing Investment Taskforce.

    “It is encouraging that we are seeing a reduction in families in temporary accommodation in some local authority areas. However, we know there is more to do which is why we have increased the affordable housing budget for this financial year by £200 million to £768 million. In the longer term we will also introduce homelessness prevention measures and a system of long-term rent controls in our Housing Bill.

    “We are determined to tackle the housing emergency and ensure that everyone in Scotland can have somewhere to call home.”

    MIL OSI United Kingdom –

  • MIL-OSI USA: Thompson, Bonamici Introduce Legislation to Strengthen Community Services Block Grant Program

    Source: United States House of Representatives – Congressman Glenn Thompson (5th District Pennsylvania)

    WASHINGTON, D.C. – U.S. Representatives Glenn “GT” Thompson (R-PA) and Suzanne Bonamici (D-OR) today introduced the Community Services Block Grant Improvement Act of 2025 to update the Community Services Block Grant (CSBG) program.

    The CSBG program is the only federal program with the singular mission of fighting poverty. The program supports more than 1,000 Community Action Agencies (CAAs) in nearly every county across the United States.
     
    For more than 60 years, CAAs have provided a range of holistic services to low-income individuals and communities across the country, including education, skills development, financial literacy, and other services promoting economic independence. CAAs serve an estimated 10 million low-income individuals annually, representing nearly 5 million families across the U.S., providing a critical “first stop” for those in need to navigate the resources available to them. 

    “The Community Services Block Grant fulfills a core American value: neighbors helping neighbors in need,” Rep. Thompson said. “This bipartisan legislation reaffirms our commitment to reducing poverty to strengthening communities across the country, provides much needed reforms to ensure community action agencies across the country can continue to serve vulnerable populations, and ultimately will help put those in poverty on the path to independence.” 

    “Congress created the Community Services Block Grant program to assist low-income individuals and families during challenging times while addressing the causes and conditions of poverty,” Rep. Bonamici said. “The program funds Community Action Agencies and benefits millions of people across the country. I am pleased to join my colleague Rep. Glenn “GT” Thompson in leading this bipartisan update to CSBG to provide Oregonians and Americans with opportunities that will help them achieve stability so they can thrive rather than struggle.”
     
    “Representatives Thompson and Bonamici have a proven record of putting Americans first, and we thank them for their leadership on this bipartisan bill. It supports strong, successful community programs nationwide and brings local solutions, innovation, opportunity and hope to every corner of the country. The bill also reinforces Community Action’s commitment to performance, accountability and using every federal dollar wisely. Thanks to the steadfast, bipartisan leadership of Representatives Thompson and Bonamici, this bill will be a breath of fresh air for every American community when it passes.”- David Bradley, National Community Action Foundation CEO

    COMMUNITY SUPPORT
    “I am deeply thankful for Congressman GT Thompson, who has consistently been a true champion for Central Pennsylvania Community Action, Inc. and the Community Services Block Grant. His unwavering support ensures that we can continue to provide vital programs and services like the Weatherization Assistance Program, Low Income Home Energy Assistance Program, sixteen (16) food pantries, Medical Assistance Transportation Program, and four (4) HUD subsidized housing projects to individuals and families across Clearfield and Centre Counties (10,312 individuals in 2024). Without his advocacy, our ability to meet the growing needs of the community would be severely limited. We are fortunate to have a representative who truly understands and values the impact of community action.” – Michelle Stiner, Executive Director, Central Pennsylvania Community Action
     
    “Congressman Glenn Thompson has been a steadfast advocate for Armstrong County Community Action Partnership (ACCAP), consistently recognizing the vital role local organizations play in improving lives and creating stronger, more resilient communities. His support ensures that Armstrong County families have access to the tools, resources, and opportunities they need to thrive, including access to nutritious food, which is fundamental to health and stability. ACCAP operates the Armstrong County Foodbank; we have 16 food pantries spread throughout the county. In 2023, our foodbank distributed nearly 12,000 boxes of food, and in 2024, that number rose to nearly 19,000 boxes. That is a 63% increase in one year. Congressman Thompson understands these types of challenges communities face, especially in rural counties like Armstrong. We’re grateful for his continued commitment to the work our agency does every day – lifting people up, fostering self-sufficiency, and building a brighter future for everyone.” – Marlene Petro, Executive Director, Armstrong Country Community Action Partnership
     
    “For the last sixty years, the Community Services Block Grant has been a catalytic tool employed across the United States to improve conditions for people with low incomes, empowering them to gain the skills needed to live stable, economically secure lives and be active and engaged members of their local communities. Organizations who steward the block grant in their local service territories have helped set the foundations for individuals and communities to flourish and thrive. Our agency has chosen to adopt food security and agricultural services as a foundational pillar of community health and vitality. Food security work is not simply concerned with the availability of food, but it is also concerned with the nutritional health of that food and how it contributes to the ability of a human being to grow and flourish. We believe that food, farms, and farmers are not only foundational to an individual’s ability to grow and flourish, but also to community health and prosperity. Representative G.T. Thompson’s interest in both agriculture and the Community Services Block Grant speaks to his leadership in these areas and his commitment to ensuring that communities across the nation maintain access to all the resources available that contribute to community and individual prosperity.” – Sandra Curry, Executive Director, Community Partnership, Inc.
     
    “Congressman Thompson has been a steadfast advocate for Community Action, Inc. and the vital work we do to assist low-income individuals striving for self-sufficiency. His leadership as Vice Chair of the Congressional Community Action Caucus and his dedication to reauthorizing and improving the Community Services Block Grant Program demonstrate his unwavering commitment to fighting poverty. Congressman Thompson’s community-oriented approach, including his active participation in local events and openness to discussing collaborative projects, highlights his role as a true friend of the community. His efforts to expand resources and eligibility for CSBG ensure that the essential services we provide like emergency shelter, weatherization, food assistance and veteran housing assistance remain accessible to those who work hard but need a helping hand. His bipartisan advocacy continues to strengthen the foundation of Community Action, Inc. and uplift countless lives.” – Misty Fleming, CEO, Community Action, Inc.

    ABOUT THE BILL
    The Community Services Block Grant Improvement Act of 2025 will reauthorize this critical program for ten years and make long-overdue updates to improve federal efforts to reduce poverty. Updates to the CSBG program include:

    • Reauthorizing the CSBG Act for 7 years and increases the resources available to CAAs to fulfill the program’s mission
    • Permanently raising income eligibility for participation in the CSBG program to 200 percent of the poverty line, which is the current, temporary threshold for the program
    • Increasing transparency and accountability for federal CSBG dollars, ensuring states and CAAs are maximizing federal investments
    • Authorizing a Broadband Navigator Program to respond to the broadband and digital needs of low-income families and communities
    • Requiring federal and state training and technical assistance to be responsive to local economic conditions, including natural disasters, that may create economic insecurity

    To read the full bill text, click here.

    MIL OSI USA News –

  • MIL-OSI USA: Thompson, Sewell Introduce Solid American Hardwood Tax Credit Act

    Source: United States House of Representatives – Congressman Glenn Thompson (5th District Pennsylvania)

    Bipartisan bill will level playing field for American-grown and manufactured hardwood products

    WASHINGTON, D.C. – U.S. Representatives Glenn “GT” Thompson (R-PA) and Terri Sewell (D-AL) introduced the Solid American Hardwood Tax Credit Act to allow individual taxpayers to include solid American manufactured hardwood products, such as flooring and paneling, as qualified home energy efficiency improvements under the Energy Efficient Home Improvement Credit. By including hardwood materials as eligible products for this credit, the legislation will provide meaningful environmental and economic benefits.

    As a building material, hardwood actively sequesters carbon and serves as long-term carbon storage in residential structures. Carbon storage reduces the impact of greenhouse gases in the atmosphere and helps support more sustainable practices. By ensuring hardwood materials are fairly counted as an energy efficient home improvement, this legislation will help lower the cost of housing, strengthen American manufacturing, and protect American jobs.

    “Pennsylvania is blessed with some of the finest hardwoods in the world, which have provided thousands of jobs across the Commonwealth,” Rep. Thompson said. “This bill supports the Trump Administration’s timber production and housing affordability initiatives, ultimately helping to lower housing costs and strengthen American industry. I look forward to continuing to advocate for domestic hardwood production.”
     
    “Alabama’s rich history and association with timber farming and hardwood product sale & production is integral for a strong statewide economy,” Rep. Sewell said. “This legislation will help preserve American jobs in the lumber and hardwood industries by combating bad actors in China that have begun to flood markets with inadequate imitations of U.S made products.”
     
    “Without active management, responsible harvesting, and robust markets, the health of our hardwood forests—and the industries and communities that depend on them—are at serious risk.  Providing consumers with a tax credit to purchase real, American grown, American manufactured solid hardwood products over cheap, imported substitutes will save thousands of American jobs and small businesses in rural America,” said Dallin Brooks, Executive Director of the National Hardwood Lumber Association.

    MIL OSI USA News –

  • MIL-OSI USA: Thompson, Stevens Introduce Resolution Celebrating 60th Anniversary of SkillsUSA 

    Source: United States House of Representatives – Congressman Glenn Thompson (5th District Pennsylvania)

    WASHINGTON, D.C. – U.S. Representatives Glenn “GT” Thompson (R-PA) and Haley Stevens (D-MI) today introduced a resolution celebrating the 60th anniversary of SkillsUSA.

    Since 1965, SkillsUSA has been a leader in equipping students with the skills they need to succeed in the modern economy, serving more than 15 million students and professional members. SkillsUSA has been instrumental in encouraging career and technical education (CTE), closing workforce gaps, and helping students pursue fulfilling careers.

    “I’ve long championed career and technical education and its role in strengthening our communities and economy,” said Rep. Thompson, co-chair of the bipartisan Congressional CTE Caucus. “SkillsUSA is leading the charge when it comes to closing skills gaps and preparing the next generation of workers with technical acumen, professionalism, and the confidence they need to succeed.”

    “This bipartisan resolution recognizes the importance Career and Technical Education (CTE) and SkillsUSA’s contributions to growing CTE,” Rep. Stevens said. “In Michigan and across the country, SkillsUSA has provided pathways to prosperity for students and supported the workforce businesses need to innovate through CTE. As our state and our country looks to compete in the 21st century economy and create quality middle class jobs, we will need to stay laser focused on the critical CTE work done of SkillsUSA.”

    “As we celebrate SkillsUSA’s 60th anniversary, we reflect on the incredible journey of our organization as a national workforce development leader—empowering millions of students across the country to find purpose, direction, and opportunity through CTE,” said Chelle Travis, Executive Director of SkillsUSA. “This resolution is a powerful recognition of the lasting impact our students, educators, and industry partners have made in closing the skills gap and driving innovation across the American economy. We are deeply grateful to Representatives Thompson and Stevens for their leadership in bringing this resolution forward.”

    ###
     

    MIL OSI USA News –

  • MIL-OSI USA: Pelosi, House Democrats Challenge Trump’s Unlawful, Chaotic Imposition of IEEPA Tariffs

    Source: United States House of Representatives – Congresswoman Nancy Pelosi Representing the 12th District of California

    Washington, D.C. —  Speaker Emerita Nancy Pelosi joined 147 Democratic Members of Congress in filing an amicus brief late Monday night challenging President Donald Trump’s sweeping and chaotic tariffs unlawfully imposed under the International Emergency Economic Powers Act (IEEPA). The lawmakers’ brief stands up for Congress’s Article I exclusive legislative power to impose tariffs and regulate commerce, and argues that IEEPA does not give the President the power to impose reckless, on-again-off-again tariffs, which have wreaked havoc on the U.S. economy.

    The amicus brief was led by Task Force Co-Chairs Joe Neguse and Ranking Member Jamie Raskin; House Democratic Leader Hakeem Jeffries; and Ranking Members Gregory Meeks of the Committee on Foreign Affairs, and Richard E. Neal of the Committee on Ways and Means. It was filed in the matter of Oregon, et al., v. Trump, et al. which was brought forth by 12 States’ Attorneys General.

    “President Trump’s senseless tariffs are harming San Franciscans and hardworking families across the country,” Speaker Emerita Nancy Pelosi said. “House Democrats are committed to defending working families from economic chaos and protecting Congress’s constitutional power to regulate trade. That’s why I proudly House Democrats’ Litigation and Rapid Response Task Force in filing an amicus brief challenging the President’s reckless, unlawful tariffs—because the American people deserve economic stability, not fear and uncertainty.”

    The Constitution gives Congress, not the President, the authority to impose tariffs, and the President can only raise tariffs if Congress has clearly delegated its authority to him. Although IEEPA (enacted in 1977) grants the president authority to impose sanctions, block foreign assets, and regulate economic transactions in response to “unusual and extraordinary threats” originating abroad, it is not a tariff statute and has never been used that way. Congress knows how to delegate tariff authority and has clearly done so on a number of occasions. When Congress does delegate such authority, it imposes substantive, procedural, and temporal limits on the president’s power in order to avoid economic chaos and protect the American people. 

    The full brief is available HERE.

    MIL OSI USA News –

  • MIL-OSI China: Entrepreneur forum highlights China-UK AI cooperation

    Source: People’s Republic of China – State Council News

    Participants at the 2025 Sino-UK Entrepreneur Forum on Wednesday praised China’s rapid advancements in artificial intelligence (AI) and emphasized the boundless opportunities for deepening cooperation between the two countries.

    The forum, co-organized by The 48 Group in Britain and China Daily, was held under the theme “Smart Decisions for Smart Technologies.”

    Chinese Ambassador to the United Kingdom (UK) Zheng Zeguang highlighted the growing collaboration between the two countries in the AI sector. He noted that both nations have actively participated in bilateral meetings and exchanges, which have yielded tangible benefits on both sides. Zheng underscored the importance of continued science and technology cooperation.

    According to official data, China is home to over 4,500 AI-related enterprises, with the core AI industry valued at nearly 600 billion yuan. In 2024, Chinese entities accounted for more than 61 percent of global AI patent applications, while new industries, business formats, and digital models contributed over 18 percent to China’s gross domestic product (GDP).

    Jack Perry, Chairman of The 48 Group, commended the current high-tech collaboration between China and the UK. He cited successful examples such as BYD’s leadership in electric mobility, Alibaba Cloud’s role in smart infrastructure, and Octopus Energy’s efforts in clean energy transformation. Perry noted that the UK, now attracting more venture capital in AI than any other European country, offers complementary strengths to China’s capabilities.

    Panel discussions featured insights from experts and industry leaders on how AI is transforming a wide range of sectors, including power supply, green growth, finance, language technologies, automotive design, cloud computing, and advertising.

    “China and Britain are two global engines of innovation with deeply complementary strengths,” said Rebecca Yang, editor-in-chief of China Daily Europe. She pointed to the UK’s excellence in fundamental research, fintech, and regulatory frameworks, and China’s expansive market, digital infrastructure, and real-world application capabilities as a foundation for strategic bilateral collaboration. 

    MIL OSI China News –

  • MIL-OSI USA: Florida Financial Advisor Sentenced for Promoting Illegal Tax Shelter and Stealing Client Funds

    Source: US State Government of Utah

    A Florida financial advisor was sentenced today to eight years in prison for orchestrating a nearly decade-long scheme to promote an illegal tax shelter and to steal client funds.

    The following is according to court documents and statements made in court: Stephen T. Mellinger III, of Delray Beach, was a financial advisor, insurance salesman, and securities broker operating in Florida, Michigan, Mississippi, and elsewhere. Beginning in late 2013, Mellinger conspired with others to promote an illegal tax shelter whereby clients would claim false tax deductions for so-called “royalty payments” to fraudulently reduce their taxes. In reality, the “royalty payments” were merely a circular flow of money designed to give the appearance of genuine business expenses. Typically, a client would send money to bank accounts controlled by Mellinger and his co-conspirators, who then sent the money, minus a fee, to a different bank account that the client controlled. Tax shelter participants retained control of the money they transferred, while falsely deducting the transfers as business expenses on their tax returns.

    In total, Mellinger and his co-conspirators helped clients prepare tax returns that claimed over $106 million in false tax deductions, which caused a tax loss to the IRS of approximately $37 million. Mellinger and a co-conspirator, who was a relative, collectively earned approximately $3 million in fees from the scheme.

    In January 2016, Mellinger learned that several of his clients were under investigation and that the United States had started seizing their funds. Mellinger and the relative subsequently stole more than $2.1 million from some of the clients, a portion of which Mellinger used to buy a home in Delray Beach.

    In addition to the prison sentence, U.S. District Judge Keith Starrett for the Southern District of Mississippi ordered Mellinger to serve three years of supervised release and to pay approximately $37 million in restitution to the United States.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, Matthew R. Galeotti, Head of the Justice Department’s Criminal Division, Acting U.S. Attorney Patrick Lemon for the Southern District of Mississippi, Special Agent in Charge Demetrius Hardeman of IRS Criminal Investigation’s Atlanta Field Office, and Deputy Inspector General for Investigations and Director of DCIS Kelly P. Mayo made the announcement.

    IRS Criminal Investigation and the Department of Defense Office of Inspector General’s Defense Criminal Investigative Service (DCIS) are investigating the case.

    Trial Attorneys Richard J. Hagerman, William Montague and Matthew Hicks of the Tax Division, Trial Attorneys Emily Cohen and Jasmin Salehi Fashami of the Criminal Division’s Money Laundering and Asset Recovery Section (MLARS), and Assistant U.S. Attorney Charles W. Kirkham for the Southern District of Mississippi are prosecuting the case.

    MIL OSI USA News –

  • MIL-OSI USA: Cornyn, Senate Colleagues, Gonzales Introduce Bill to Combat Devastating Screwworm Outbreak

    US Senate News:

    Source: United States Senator for Texas John Cornyn
    WASHINGTON – U.S. Senators John Cornyn (R-TX), Ted Cruz (R-TX), and Ben Ray Luján (D-NM) and Congressman Tony Gonzales (TX-23) today introduced the Strengthening Tactics to Obstruct the Population of Screwworms (STOP Screwworms) Act, which would authorize funds for and direct the U.S. Department of Agriculture (USDA) to begin construction on a new sterile fly production facility to combat the growing New World screwworm (NWS) outbreak that threatens to wreak havoc on the American cattle industry:
    “Combatting the destructive New World screwworm is vital to protecting our cattle, Texas producers, and the American livestock industry as a whole,” said Sen. Cornyn. “I am proud to lead this legislation to create a new facility dedicated to pushing these pests away from our border and will continue to work with Secretary Rollins and agriculture leaders across the state to ensure our farmers, ranchers, and producers have the resources they need.” 
    “Texas agriculture and livestock are a core part of the Texas economy, and they feed America and the world,” said Sen. Cruz. “I’m working daily with Secretary Rollins, Texas authorities, and my colleagues in Congress to safeguard Texas from threats including the New World Screwworm, and pushing Mexico to implement their commitments to eradication. This bill will advance those efforts, and Congress should pass it.”
    “Given the current screwworm outbreak, Congress must take immediate action to help protect New Mexico’s cattle and livestock from this growing threat,” said Sen. Luján. “This bipartisan legislation will fund a new sterile fly facility to help stop the spread of the destructive New World screwworm and protect New Mexico’s 1.4 million cattle and calves. This is a critical investment that supports over 10,000 cattle farms and ranches in New Mexico, saves the U.S. livestock industry nearly $1 billion each year, and helps prevent an outbreak in the U.S.”
    “Ag producers across America are sounding the alarm—the New World Screwworm is making a comeback, and our livestock industry is in real danger. We need to fully eradicate this pest before it’s too late,” said Rep. Gonzales. “The STOP Screwworms Act provides dedicated resources to do just that. By authorizing the construction of a new sterile fly facility in the United States, we reduce our dependence on Latin American partners for eradication efforts and take matters into our own hands.”
    Additional cosponsors of this legislation include Sens. Martin Heinrich (D-NM) and Cindy Hyde-Smith (R-MS).
    Background:
    The New World screwworm (NWS) is a parasitic fly whose larvae feed on livestock, wildlife, and in rare cases, humans, and populations are moving toward the United States at an alarming rate. They can cause serious damage to their host, including death. This week, the USDA announced the suspension of live cattle, horse, and bison imports through the southern border in response to the growing spread of the NWS and recent outbreaks in Mexico.
    This new facility would produce sterile male screwworm flies that would be released into infested areas to help combat the growth of the screwworm population. The sterile fly technique was instrumental in eradicating NWS from the United States in the 1960s and from Mexico in the ‘90s, as sterile male flies can outcompete local populations and effectively wipe out an entire generation of screwworms in a given area.
    This legislation is endorsed by the American Farm Bureau Federation, the Texas Farm Bureau, the Texas Cattle Feeders Association, the Texas and Southwestern Cattle Raisers Association, and the South Texans’ Property Rights Association.

    MIL OSI USA News –

  • MIL-OSI Australia: Dedicated decade: more than 370 children removed from harm thanks to tireless work of joint SA child protection taskforce

    Source: New South Wales – News

    During its decade-long efforts to detect and stamp out hideous online child sexual exploitation committed by South Australian offenders, a small and dedicated taskforce of AFP and South Australia Police investigators have protected more than 370 children around the world from further abuse.

    The South Australian Joint Anti Child Exploitation Team (SA JACET) was formed in 2015 to provide a more coordinated investigative response and achieve the best possible outcomes for vulnerable young people in Australia and overseas.

    In the decade since SA JACET was established, more than 370 child victims, ranging from toddlers to teenagers, from countries including Australia, the United Kingdom, United States and Southeast Asia, have been identified and removed from further harm.

    During this time, SA JACET received 677 referrals from national and international law enforcement agencies relating to alleged South Australian-based offenders, resulting in the arrest of 654 people locally.

    So far this financial year (2024-25)*, SA JACET investigations have resulted in the removal of 14 children from harm in Australia and overseas, and the charging of 49 men and women in South Australia for their alleged involvement in the online sexual exploitation or abuse of children.

    AFP Detective Acting Sergeant Stephen Hegarty, from SA JACET, said there was no greater reward than being part of a resilient and dedicated team focused on protecting the youngest, and often most vulnerable, members of the community.

    “As an original member of the SA JACET, I can say that repeatedly viewing videos and images of children being exploited, abused or tortured is tough – but it does not compare to the trauma that child victims endure,” a/Sgt Hegarty said.

    “The team’s common goal is to make a difference in children’s lives – ensure victims are identified and removed from further harm and protect other children from having their innocence stolen.

    “Our team can spend weeks, months, or even years investigating just one of these evil and horrendous crimes and sadly, are often investigating several matters at once.

    “Identifying suspects can require extensive intelligence gathering and investigative techniques, including using the execution of search warrants to gather evidence, and forensic examination of equipment and images.

    “It’s also important to remember an investigation does not end with an arrest.

    “Police will continue to review seized images and videos to try to identify child victims, prepare evidence for the judicial process, investigate possible other offending, and provide referrals to other local and international agencies if required.

    “JACET investigators are relentless, and we never give up trying to combat this crime type.”

    Acting Sergeant Hegarty said the co-location of the AFP and South Australian investigators provided significant opportunity to quickly and efficiently share jurisdiction-specific intelligence.

    “JACET teams are in most Australian states and territories, and complement the efforts of the AFP-led Australian Centre to Counter Child Exploitation (ACCCE),” a/Sgt Hegarty said.

    “With the AFP’s involvement, JACET can also reach into our broad international network.”

    South Australia Police Acting Assistant Commissioner, Crime Service, Catherine Hilliard commended the hard work of SAPOL and AFP investigators over the past 10 years.

    “Child protection will always be a key priority for South Australia Police, and we will continue working with partner agencies to keep children safe and remove them from harm,” she said.

    “We also work with other agencies across the world to identify and bring those involved in child exploitation to justice.

    “Our hardworking investigators often spend their days examining confronting material, but seeing the results over the past 10 years of JACET provides further motivation to overcome obstacles and persist in our quest to detect and apprehend child sex offenders.

    “SA JACET will continue to pursue child sex offenders wherever they may hide.”

    Acting Assistant Commissioner Hilliard urged parents to discuss online safety with their children.

    “As a community it’s important to be aware of the risks and warning signs in children to prevent their exploitation online,” she added.

    “This may include changes in behaviour, secrecy around devices, changing passcodes and isolating themselves in their rooms.

    “Be approachable, have open conversations with your children, and know educational resources are available to assist in these vital conversations.”

    *Figures from the period 1 July, 2024 to 1 May, 2025.

    Significant SA JACET sentencings from the past 12 months

    June 2024

    A South Australian man was sentenced to 23 years’ imprisonment for soliciting sexually explicit material from 10 foreign children (Philippines) via social media platforms.

    The sentencing is the first conviction in South Australia under mandatory minimum sentencing provisions for Commonwealth child sexual abuse offences.

    November 2024

    A South Australian man was sentenced to 15 years’ imprisonment – with a non-parole period of nine years – for child abuse offences, including the live streaming of young children overseas (Philippines).

    Case studies

    Criminal Asset Confiscation Taskforce (CACT) seizures and forfeiture of homes in South Australia of convicted online child abuse offenders 

    • In November, 2020, the CACT restrained the Adelaide home of a man who was then accused of ordering and instructing live distance child abuse of children overseas, which he watched online from his home. It was the first time the AFP had restrained the home of an alleged child sex offender, who was not accused of profiting from his crimes. The man was later convicted and sentenced to more than 15 years’ imprisonment. A total of 50 per cent of the market value of the property was ultimately confiscated.
    • In December, 2024, the CACT restrained the home of a South Australian man who had been charged with more than 50 offences, largely relating to the alleged transmission and production of child abuse material on social media platforms.

    ·

    Other states (assets restrained/forfeited online child abuse offenders)

    • In October, 2020, a Belgian national living in Sydney was the first person to have assets restrained by the CACT as part of a child protection investigation. He had been selling child abuse material from a website he operated. The CACT restrained the man’s assets, estimated to be worth $30,000, which included funds in two bank accounts, camera equipment, a drone and scuba diving gear. The matter has been finalised, with the Supreme Court of NSW ordering all property be forfeited to the Commonwealth.
    • In March, 2024, the CACT restrained the home of a Northern Territory man who was convicted of online child abuse offences. The home was subsequently forfeited to the Commonwealth in June, 2024.
    • In March, 2025, the CACT restrained the home of a New South Wales man, charged with three offences relating to use of a carriage service to transmit, possess, and access child abuse material.
    • In April, 2025, a Victorian Court made consent orders for a Geelong man, 32, to pay a sum of more than $850,000, being equal to the benefits he derived from the commission of his offences. He was convicted of controlling, producing and possessing child abuse material and dealing with proceeds of crime. The Court also ordered the forfeiture of various other property, including the proceeds of sale of two vehicles, 48 household items, including high-end televisions, audio-visual equipment, furniture and appliances, and more than $30,000 in funds.

    Top tips for parents and carers

    • Supervision is essential. This means knowing what your children are doing online, who they are interacting with and what platforms, apps or games they are using.
    • Have open conversations, often. Talk to your children often about their online activities.
    • Check privacy settings. We recommend parents and carers research and understand app settings, including privacy settings. This could include turning off location settings, setting profiles to private, or turning off chat functions.
    • Encourage your child to recognise safe or unsafe situations and inappropriate contact. This can empower them to make informed decisions, including when they’re unsupervised.
    • Advise children not to share personal information with any ‘friends’ they have only met online.
    • Be approachable if your child needs help. Coming forward isn’t always easy, and children may feel reluctant to tell you about online issues if they believe they will be punished or have their devices taken away.
    • Know how to make a report. It’s important immediate action is taken if your child is in danger of online sexual abuse. If something goes wrong online, it is critical your child is supported. Parents and carers need to know how to act.

    What are the warning signs a child may be groomed online?

    Common online grooming behaviour to look out for includes:

    • Unsolicited friend requests;
    • An online user asking children personal questions;
    • Promising something in exchange for self-generated child abuse material; or
    • Fake social media accounts.

    How can a report be made to the ACCCE or law enforcement?

    • If parents or carers believe a child is being groomed, it is important to collect as much evidence as possible before the content is removed. This will assist police in their investigation.
    • This evidence includes:
    • Screenshots or photos of conversations. However, do not screenshot, save, share or distribute any explicit images of the underage person as this is an offence.
    • Recorded social media details, including account profile and username profiles.
    • Webpage addresses (URLs).
    • Dates and times of when the online grooming occurred.
    • Any other information you have about the interaction or the potential offender.
    • Block or delete. It’s important to capture this information before blocking or deleting the user or you may lose important evidence.
    • Members of the public who have information about people involved in child abuse and exploitation are urged to call Crime Stoppers on 1800 333 000 or report through the ACCCE website, https://www.accce.gov.au/report.
    • If you know abuse is happening right now, or a child is at risk, call police immediately on 000.
    • The AFP and its partners are committed to stopping child exploitation and abuse and the ACCCE is driving a collaborative national approach.

    The AFP-led ACCCE is committed to stopping child exploitation and abuse and is at the centre of a collaborative national approach to combatting organised child abuse.

    The Centre brings together specialist expertise and skills in a central hub, supporting investigations into child sexual abuse and developing prevention strategies focused on creating a safer online environment.

    Members of the public who have any information about people involved in child abuse and exploitation are urged to call Crime stoppers on 1800 333 000.

    You can also make a report online by alerting the Australian Centre to Counter Child Exploitation via the Report Abuse button.

    Note to media:

    Use of term ‘CHILD ABUSE’ MATERIAL NOT ‘CHILD PORNOGRAPHY’

    The correct legal term is Child Abuse Material – the move to this wording was among amendments to Commonwealth legislation in 2019 to more accurately reflect the gravity of the crimes and the harm inflicted on victims.

    Use of the phrase “child pornography” is inaccurate and benefits child sex abusers because it:

    • indicates legitimacy and compliance on the part of the victim and therefore legality on the part of the abuser; and
    • conjures images of children posing in ‘provocative’ positions, rather than suffering horrific abuse.

    Every photograph or video captures an actual situation where a child has been abused.

    MIL OSI News –

  • MIL-OSI USA: Congresswoman Waters, Senator Merkley Launch New Effort to Boost Congress’ Oversight of Trump’s Mass Firings

    Source: United States House of Representatives – Congresswoman Maxine Waters (43rd District of California)

    Washington, D.C. – As the Trump Administration continues mass firings of federal employees, Congresswoman Maxine Waters, the top Democrat on the House Financial Services Committee, today introduced first-of-its-kind legislation to strengthen Congress’ authority to protect workers and override federal staffing cuts implemented without consultation.

    The Reduction in Force (RIF) Review Act empowers Congress to overrule any president’s workforce cuts at all federal agencies, including the Social Security Administration, Environmental Protection Agency, and Department of Health and Human Services. The bill makes RIF plans subject to the Congressional Review Act (CRA) and bolsters Congressional oversight of the executive branch’s actions.

    “Donald Trump and co-President Elon Musk are engaged in a lawless and reckless restructuring of the federal workforce. By firing thousands of federal workers, they are dismantling the infrastructure supporting Social Security, veterans’ healthcare, and our entire government. Meanwhile, Republicans in Congress are sitting by and refusing to perform their duty under the Constitution to provide a check on this President. That’s why I’m proud to partner with Senator Merkley to introduce the Reduction in Force Review Act, which will restore Congress’ role in overseeing major changes to the federal workforce. Agencies like the Consumer Financial Protection Bureau, which I’ve been fighting to protect as Ranking Member of the House Financial Services Committee, protect ordinary Americans from financial scams and predatory lenders. If Republicans want to declare open season on working families, they should at least have to vote on it,” said Waters.

    Senator Jeff Merkley (D-OR), the top Democrat on the Senate Budget Committee, led the Senate introduction of the RIF Review Act.

    “Trump and his unelected billionaire sidekick Elon Musk’s reckless decision to fire tens of thousands of federal employees threatens the critical services that families, veterans, seniors, and children rely on,” said Merkley. “This isn’t about fiscal responsibility—it’s about cruelly shifting resources away from those who need them most to the very richest among us. Gutting resources and staff from vital programs is not resulting in better services or increased efficiency, but is instead causing pain for folks in Oregon and across the country. Congress must step in and exercise its oversight of the executive branch.”

    The RIF Review Act makes an agency’s reduction in force plan subject to a vote in both houses of Congress under the CRA process and enhances existing RIF reporting requirements to include:

    • The specific reasons for the reduction in force;
    • The anticipated impact of the reduction in force on the employees and operations of the federal agency;
    • Any alternatives to the reduction in force that the federal agency considered, including the reasons that the federal agency rejected those alternatives;
    • A summary of the consultations that the federal agency has held with employees of the federal agency who will be affected by the reduction in force (or representatives of those employees); and
    • A summary of how the reduction in force will impact employees of the Federal agency who are veterans.

    In addition to Waters and Merkley, the RIF Review Act is cosponsored by U.S. Representatives Gerald E. Connolly (VA-11), LaMonica McIver (NJ-10), Julia Brownley (CA-26), Maxwell Frost (FL-10), Doris O. Matsui (CA-07), Eleanor Holmes Norton (DC-AL), Alexandria Ocasio-Cortez (NY-14), Rashida Tlaib (MI-12), and Jill N. Tokuda (HI-02) and U.S. Senators Chris Van Hollen (D-MD), Angela Alsobrooks (D-MD), Tim Kaine (D-VA), Mark Warner (D-VA), Bernie Sanders (I-VT), Ron Wyden (D-OR), Dick Durbin (D-IL), Adam Schiff (D-CA), and Tammy Baldwin (D-WI). 

    The RIF Review Act is endorsed by the AFL-CIO, SEIU, American Federation of Government Employees (AFGE), National Treasury Employees Union (NTEU), and National Federation of Federal Employees (NFFE).

    “The Trump administration’s reckless attempt to dismantle our government without congressional approval threatens vital services Americans depend on every day—from caring for veterans and safeguarding public health, to protecting our environment and maintaining national security. This illegal power grab would gut federal agencies, disrupt communities nationwide, and put critical public services at risk. AFGE is proud to support the RIF Review Act to protect not just the patriotic public servants we represent, but the integrity of American government and the essential services that our nation deserves,” said AFGE National President Everett Kelley.

    “DOGE’s illegal firings are an attack on federal workers and on the communities across the country who rely on them. Veterans will be left waiting even longer for care, and the workers who ensure our food is safe and water is clean have been fired. If these cuts are not overturned, we’ll see seniors waiting for delayed Social Security checks, and kids and teachers going without vital school programs. The RIF Review Act is critical to stopping these reckless cuts and restoring the jobs that make these programs work. We urge Congress to act now: stand with working people and support this bill or let the Trump administration and an unelected billionaire dismantle the essential services that millions of Americans count on,” said AFL-CIO President Liz Shuler.

    “This administration’s war on the services that Americans rely on is despicable,” said Doreen Greenwald, National President of the NTEU. “These illegal mass firings not only harm thousands of dedicated civil servants across the country, but also millions of taxpayers who need these services and local communities who will suffer from increased unemployment. I applaud Senator Merkley and Congresswoman Waters for their leadership in ensuring that Congress can step in and stop these efforts before it’s too late.”

    Full text of the RIF Review Act can be found by clicking here.

    MIL OSI USA News –

  • MIL-Evening Report: After an autocratic leader was toppled in Bangladesh, democratic renewal remains a work in progress

    Source: The Conversation (Au and NZ) – By Intifar Chowdhury, Lecturer in Government, Flinders University

    Last July, a powerful student-led uprising in Bangladesh toppled the authoritarian, corrupt government led for 15 years by Prime Minister Sheikh Hasina.

    Bangladesh now shows modest signs of democratic recovery. Months into its tenure, a transitional government has reopened political and civic space, especially at universities, and begun reforming key state bodies.

    Yet, violence and political retribution persist. This week, the interim government banned Hasina’s former party, the Awami League, under the country’s Anti-Terrorism Act while a tribunal investigates its role in the deaths of hundreds of protesters last year.

    Elections have also been delayed and may not happen until 2026.

    Amid this fragile transition, interim leader Muhammad Yunus, the 84-year-old Nobel-prize winning economist, has emerged as a rare figure of trust and calm. His popularity is so high, in fact, many are calling for him to remain at the helm for another five years.

    Given the uncertainty, Bangladesh faces some uncomfortable questions: can it afford electoral democracy right now? Or must stability come first, with democracy postponed until institutions can catch up?

    And what happens if emergency governance becomes the new normal?

    Fraught road to democratic renewal

    According to a global democracy report, Bangladesh is still classified as an “electoral autocracy” — one of the few in the category that actually got worse in 2024.

    The opposition, chiefly the Bangladesh National Party (BNP), has mounted a fierce challenge to the interim government’s legitimacy, arguing it lacks a democratic mandate to implement meaningful reforms.

    While the BNP and its former ally, the Islamist party Jamaat-e-Islami, may appeal to segments of Bangladesh’s Muslim majority, their support is undermined by reputational baggage and limited resonance with younger voters.

    At the same time, radical, right-wing, Islamist forces are exploiting the vacuum to reassert themselves, exacerbating tensions between Muslims and the Hindu minority.

    Economically, the country is also still reeling from the damage done under Hasina’s regime.

    Corruption hollowed out the banking system, leaving key institutions almost bankrupt. Although Yunus has taken steps to stabilise the economy by bringing in competent officials, uncertainty continues to dampen investor confidence.

    Inflation remains high. And unless job creation accelerates, especially for the youth, the seeds of further unrest are already planted.

    In addition, law and order has deteriorated sharply. The country’s police force has been tainted by its association with the Alami League, and the former police chief is facing charges of crimes against humanity.

    Street crime is rising and minorities are experiencing growing harassment. Women feel deeply unsafe — both online and on the streets. Some parties are also seen as a threat to countering violence against women.

    Despite strong laws on paper, weak law enforcement and victim-blaming are allowing violence to flourish. It’s very difficult to hold perpetrators of crimes to account.

    Bangladesh is also increasingly isolated on the global stage.

    India, long allied to Hasina’s government, has turned its back on the interim government. The United States is disengaging, as well. USAID had committed nearly US$1 billion (A$1.6 billion) from 2021–26 to help improve the lives of Bangladeshis, but this funding has now been suspended.

    Some gains on civil liberties

    This year, Bangladesh improved slightly in Freedom House’s index on political freedoms and civil liberties, from a score of 40 points out of 100 last year to 45. This is a step in the right direction.

    Among the improvements in the past year, the government has:

    The appointment of new election commissioners and the creation of advisory commissions for judicial and anti-corruption reform also signal an institutional reset in motion.

    But gains remain fragile. While politically motivated cases against opposition figures have been dropped, new ones have emerged against former ruling elites. The military’s policing role has expanded and harassment of Awami League supporters by protesters persists.

    In addition, media freedom remains heavily constrained, with a human rights group reporting the interim government had targeted hundreds of journalists in the past eight months.

    In this fractured environment, urgent reforms are needed. But these need to be sustainable, as well. Whether the interim government has the time, authority or support to deliver them remains in doubt. The government also needs to deliver on its promise to hold free and fair elections.

    A new party on the rise

    The country’s politically engaged youth have not been dissuaded by these issues. Rather, they are trying to reshape the political landscape.

    The new National Citizen Party (NCP) was formed in early 2025 by leaders of last year’s student uprising. It has positioned itself as the party to bring a “second republic” to Bangladesh. Drawing from historical models from France and the US, the party envisions a new elected, constituent assembly and constitution.

    With organisational support and tacit backing from the interim government, the NCP has rapidly grown into a viable political force.

    Still, the party faces a steep, uphill climb. Its broad, ideological umbrella risks diluting its message, blurring its distinctions with the BNP.

    For the NCP to turn protests into policy, it must sharpen its identity, consolidate its base, and avoid being co-opted or outflanked.

    Whether this moment of political flux leads to real transformation or yet another cycle of disillusionment will depend on how boldly — and how sustainably— the interim government and new actors like the NCP act. And they must not draw out the process of transition for too long.

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

    – ref. After an autocratic leader was toppled in Bangladesh, democratic renewal remains a work in progress – https://theconversation.com/after-an-autocratic-leader-was-toppled-in-bangladesh-democratic-renewal-remains-a-work-in-progress-253846

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: UK to clamp down on criminal networks in Western Balkans as the Prime Minister travels to Albania

    Source: United Kingdom – Government Statements

    Press release

    UK to clamp down on criminal networks in Western Balkans as the Prime Minister travels to Albania

    The UK will step up efforts to break the crime web fuelling illegal migration across the Western Balkans on a historic visit to the region by the Prime Minister. 

    • Prime Minister visits Albania in historic first official visit, as the two countries step up cooperation on defence and security, organised immigration crime and economic growth  
    • UK to expand Joint Migration Task Force in the Western Balkans to intercept migrants upstream before they reach UK shores  
    • Discussions on illegal migration come after the Prime Minister unveiled the government’s Immigration White Paper, a comprehensive plan to drive down net migration 
    • Prime Minister set to see UK cooperation with Albania in action during visit to Port, as both countries double down on efforts to tackle forged documents, illicit finance and incentives to migration  

    The UK will step up efforts to break the crime web fuelling illegal migration across the Western Balkans on a historic visit to the region by the Prime Minister.  

    Prime Minister Keir Starmer will begin a two-day visit to Tirana today, to step up cooperation on migration and expand successful joint initiatives with Albania to more countries in the region.  

    It comes after the Prime Minister unveiled the government’s Immigration White Paper, a comprehensive plan that will bring net migration to the UK down significantly, earlier this week. 

    During the first ever official visit to Albania by a UK Prime Minister, Keir Starmer will visit the Port of Durres to see firsthand how UK cooperation is intercepting people smugglers, deterring would-be migrants and snaring criminals using fake documents.  

    The UK’s cooperation with Albania has underlined how this government’s approach of intercepting and deterring migrants upstream can dramatically cut illegal migration to British shores. 

    There has been a 95% reduction in Albanian small boat arrivals in the last three years, while the number of Albanians returned to the country has also doubled in the past two years, with 5,294 Albanians returned in 2024, more than double the 2,035 Albanian nationals returned two years earlier.  

    But the Prime Minister has been clear that the government cannot be complacent about the success, and while in Albania this week, he is expected to announce the expansion of the Joint Migration Task Force with Albania and Kosovo to include North Macedonia and will further progress positive discussions with Montenegro.

    The task force brings together specialists from the countries involved to design and execute operations to detect, deter and manage illegal migration. It will see the UK share greater intelligence to allow local law enforcement to intercept smuggling gangs and deploy UK funded drones to snare gangsters funnelling migrants through the Western Balkans corridor and on to the UK.  

    The UK will also support both countries to reinforce checks at border crossing points.  

    The expansion of the task force comes ahead of the UK hosted Western Balkans Summit in the Autumn, which is expected to focus on regional security, economic growth and tackling shared challenges such as foreign interference and illegal migration with innovative solutions. 

    Prime Minister Keir Starmer said:   

    Global challenges need shared solutions, and the work the UK and Albania is doing together is delivering security for working people in both countries.   

    And our joint work to deter, detect and return illegal migrants is further proof that intervening upstream to protect British shores and secure our borders is the right approach.   

    Every step we take to tackle illegal migration overseas, cripple the criminal networks that facilitate it and stem the finance streams that fund it is delivering safer streets in the UK, and reducing the strain on taxpayer funded services.  

    But we cannot take this action alone, through closer partnerships and greater cooperation, we are creating real change with our partners across Europe and delivering on our Plan for Change.

    The UK will also double down on its success with Albania, ensuring the barriers deterring migrants from making the journey from Tirana to British shores remain in place.  

    As part of an enhanced strategic partnership with Albania, the Prime Minister and Albania’s Prime Minister Edi Rama are expected to agree to go further on clamping down on people smuggling, supporting human trafficking victims and ensuring Albanians deported home do not attempt a second journey.   

    The two countries will also launch a new project to tackle illicit finance and investigate underground finance streams that are laundering money between Albania and the UK.   

    Two forgery detection machines will also be donated to the Albanian State Police to quickly identify discrepancies and confirm document authenticity through regular checks, allowing Albanian law enforcement to track and apprehend individuals trying to illegally enter the UK on stolen or fake passports.  

    And the UK will support Albania tackle what is known as the ‘revolving door effect’ – when a migrant is returned home, only to evade law enforcement and leave the country again –  through a new programme to help young Albanians reintegrate into society and find meaningful employment. The focus of the programme will be in northern Albania, where the majority of migrants who arrive illegally in the UK are traced back to.   

    The leaders are also expected to step up cooperation to counter serious organised crime, including the funding of a new forensic evidence programme to share and track the DNA swabs of criminals in Albania to solve crimes in the UK.   

    The recent roll out of the programme saw more than 55 serious criminals – including murderers, rapists and manslaughter offenders – taken off UK streets thanks to the closer cooperation between the two countries. The project has seen 1000 hits in the past 18 months in UK data bases, resulting in 55 arrests in the UK.  

    The government will invest a further £1 million in the partnership this year to upgrade Albania’s forensics, biometrics and digital capability to detect and detain further criminals and protect UK streets. It will also allow law enforcement in both countries to identify and gather evidence in some of the most serious crimes committed in Albania, the UK and beyond.  

    Later in the day, the Prime Minister will see firsthand the deeper defence and security cooperation between the UK and Albania when he visits troops from both countries working together to train up Ukrainian soldiers under Operation Interflex.  

    Day two of the programme will see the Prime Minister attend the European Political Community summit, where he will convene a roundtable on Defence and Security and continue conversations on innovative solutions to the challenge of illegal migration.

    Updates to this page

    Published 15 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI: THE BANCORP 48 HOUR DEADLINE ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Deadline in Class Action Lawsuit Against The Bancorp, Inc. – TBBK

    Source: GlobeNewswire (MIL-OSI)

    NEW ORLEANS, May 14, 2025 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have only until May 16, 2025 to file lead plaintiff applications in a securities class action lawsuit against The Bancorp, Inc. (“Bancorp” or the “Company”) (NasdaqGS: TBBK), if they purchased the Company’s securities between January 25, 2024 and March 4, 2025, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Delaware

    Get Help

    Bancorp investors should visit us at https://www.claimsfiler.com/cases/nasdaq-tbbk-1 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

    About the Lawsuit

    The Bancorp and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

    On March 4, 2025, the Company disclosed that it would be unable to file timely its fiscal year 2024 annual report and that its “financial statements for the fiscal years ended December 31, 2022 through 2024 as shown in the Annual Report should no longer be relied upon” because its auditors for those years “did not provide approval to include [the] audit opinion . . . or [the] consent to the incorporation by reference of their audit report in certain registration statements.” Further, the Company revealed it is “working expeditiously to perform and complete additional closing procedures related to accounting for consumer fintech loans in the allowance for credit losses” in order to file an amended annual report, and that it “is evaluating the impact of this non-reliance on its conclusions regarding disclosure controls and procedures and internal control over financial reporting.”

    On this news, the price of Bancorp’s shares fell $2.34, or 4.38%, to close at $51.25 per share on March 5, 2025, on unusually heavy trading volume.

    The case is Linden v. The Bancorp, Inc., et al., No. 25-cv-326.

    About ClaimsFiler

    ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

    To learn more about ClaimsFiler, visit www.claimsfiler.com.

    The MIL Network –

  • MIL-OSI: Athene Prices $1,000,000,000 Investment Grade Senior Notes Offering

    Source: GlobeNewswire (MIL-OSI)

    WEST DES MOINES, Iowa, May 14, 2025 (GLOBE NEWSWIRE) — Athene Holding Ltd. (“Athene”) today announced it has agreed to sell $1,000,000,000 aggregate principal amount of 6.625% senior notes due 2055. The offering is expected to close on May 19, 2025, subject to satisfaction of customary closing conditions.

    Athene intends to use the net proceeds from the offering for general corporate purposes, including capital contributions to its insurance subsidiaries to support organic growth.

    Morgan Stanley, BofA Securities, Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers for the offering. Apollo Global Securities, Academy Securities, BMO Capital Markets, Citigroup, Ramirez & Co., Inc. and SMBC Nikko are acting as co-managers for the offering.

    The notes are being offered pursuant to an effective shelf registration statement that has previously been filed with the Securities and Exchange Commission (the “SEC”). This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, or solicitation to buy, if at all, will be made solely by means of a prospectus and related prospectus supplement filed with the SEC. You may obtain these documents without charge from the SEC at www.sec.gov. Alternatively, you may request copies of these materials from the joint book-running managers by contacting Morgan Stanley & Co. LLC toll-free at (866) 718-1649, BofA Securities, Inc. toll-free at (800) 294-1322, Goldman Sachs & Co. LLC toll-free at (866) 471-2526, or J.P. Morgan Securities LLC collect at (212) 834-4533.

    About Athene

    Athene is a leading retirement services company with over $380 billion of total assets as of March 31, 2025, and operations in the United States, Bermuda, Canada, and Japan. Athene is focused on providing financial security to individuals by offering an attractive suite of retirement income and savings products and also serves as a solutions provider to corporations.

    Forward-Looking Statements

    This press release contains, and certain oral statements made by Athene’s representatives from time to time may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks, uncertainties and assumptions that could cause actual results, events and developments to differ materially from those set forth in, or implied by, such statements. These statements are based on the beliefs and assumptions of Athene’s management and the management of Athene’s subsidiaries. Generally, forward-looking statements include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” “should,” or “continues” or similar expressions. Forward-looking statements within this press release include, but are not limited to, statements regarding future growth prospects and financial performance. Although Athene management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. For a discussion of other risks and uncertainties related to Athene’s forward-looking statements, see its annual report on Form 10-K for the year ended December 31, 2024, which can be found at the SEC’s website www.sec.gov. All forward-looking statements described herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. Athene does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

    Media Contact
    Jeanne Hess
    VP, External Relations
    +1 646 768 7319
    jeanne.hess@athene.com

    The MIL Network –

  • MIL-OSI USA: Rep. Pfluger Secures Big Wins in the “One, Big, Beautiful Bill”

    Source: United States House of Representatives – Congressman August Pfluger (TX-11)

    WASHINGTON, DC — Today, the House Energy and Commerce Committee advanced a strong, commonsense reconciliation bill after over twenty-six hours of debate. Upon passage, Rep. Pfluger released the following statement.

    “After over twenty-six hours of Democrat distractions, falsehoods, and baseless debate, Energy and Commerce Republicans stayed focused on delivering real, commonsense results for the American people. We have now completed our part in advancing President Trump’s agenda through the ‘One, Big, Beautiful Bill.’ This package ends wasteful spending on woke Green New Deal-style programs, secures American energy dominance to support the rapid innovation of American industry, and preserves and protects Medicaid for all vulnerable Texans and Americans who truly need it. This legislation also expands rural connectivity through smart spectrum policy while safeguarding national security interests. Through these commonsense policies, we’re building a stronger, more secure America for generations to come.”

    Among the many Republican-backed victories supported by Rep. Pfluger in this legislation, this bill includes several key priorities Rep. Pfluger has specifically championed, which will directly benefit Texans and all Americans alike:

    Energy Wins:

    ·     Expedited LNG Exports (Section 41003) — Expedites approvals by deeming applications to non-free trade countries “in the public interest” upon payment of a $1 million fee, eliminating a previously lengthy review process. This streamlining preserves existing legal and regulatory authorities while potentially reducing approval timelines from years to months. This directly aligns with Rep. Pfluger’s bill to strengthen energy leadership and expand LNG exports.

    ·     Natural Gas Permitting Reform (Section 41005) — Creates a voluntary expedited permitting pathway with guaranteed timelines, requiring agencies to complete reviews within one year of fee payment ($10M or 1% of project cost). If review deadlines are missed, applications are automatically approved, and legal challenges are limited. This provision advances Rep. Pfluger’s permitting reform priority and provides greater certainty for major energy projects.

    ·     Strategic Petroleum Reserve Funding (Section 41008) — Provides a $2 billion appropriation for the Strategic Petroleum Reserve (SPR), including $218 million for cavern repairs, $1.32 billion for oil purchases, and directs the remaining funds to reverse prior mandated sales. This targeted investment strengthens U.S. energy security and reserve readiness and directly supports Rep. Pfluger’s priority to refill the SPR.

    Environment Wins:

    ·     Air Pollution Monitoring Limitation (Section 42105) — Repeals and rescinds unobligated funds from IRA Section 60105, which had allocated $281.5 million to the EPA for expanding air quality monitoring networks. This reduces the EPA’s ability to identify new non-attainment zones, limiting additional regulatory burdens. This acts on Rep. Pfluger’s priority to protect the Permian Basin from costly regulatory designations that could impact energy producers.

    ·     Methane Emissions Program Delay (Section 42113) — Extends the timeline for the Methane Emissions Reduction Program charges by an additional 10 years. This extension reinforces Rep. Pfluger’s success with his legislation that President Trump signed into law earlier this year. It also supports his position against the immediate implementation of the harmful program’s current requirements.

    Healthcare Wins:

    ·     Affordable Care Act Exchange Reforms (Section 44201) — Amends the Affordable Care Act’s (ACA) definition of “lawfully present” to exclude Deferred Action for Childhood Arrivals (DACA) recipients. This change counters the Biden Administration’s May 2024 rule, which expanded ACA eligibility to include DACA recipients, a move with potential legal and financial implications. This aligns with Rep. Pfluger’s previous Congressional Review Act efforts to prevent ACA expansion to DACA recipients.

    WATCH: Rep. Pfluger Dismantled Several Democrat Lies On Key Provisions in the Final Package, Including:

    ·     Lies on the LNG export user fees HERE

    ·     Work requirements for Medicaid benefits HERE

    How this bill protects Medicaid for vulnerable, eligible Americans HERE. 

    MIL OSI USA News –

  • MIL-OSI United Kingdom: NHS leaders face both ‘carrot and stick’ in new performance drive

    Source: United Kingdom – Executive Government & Departments 2

    Press release

    NHS leaders face both ‘carrot and stick’ in new performance drive

    NHS leaders will face new performance-based pay system with bonuses for improved patient care and penalties for failing trust executives.

    • CEOs cutting waiting times and delivering improvements for patients could be rewarded with bonuses of up to 10% 

    • But failing trust execs face will have annual pay rises docked under tough new government measures 

    • New measures are part of government’s Plan for Change to deliver investment and reform for the NHS 

    Failing trust leaders will have annual pay rises docked under tough new measures aimed at improving NHS performance and driving progress on cutting waiting lists. 

    Bonuses of up to 10% will also be on offer for top performers under the new ‘carrot and stick’ approach. 

    The bold shakeup will transform NHS services from boardroom to bedside, cutting waiting lists and driving better patient care as part of the government’s Plan for Change. 

    Under the new plans, the government will look to learn from some of the most effective businesses in the country to recruit top talent to struggling trusts – with leadership vacancies in badly performing areas coming with a temporary pay increase of 15%, worth up to £45,000**.  

    Pay bands for senior managers will also be refreshed to attract and retain effective leaders within the NHS.

    At the same time, failing CEOs could see up to £15,000* docked from their salaries if they run into debt or fail to deliver improvements. This is in addition to any existing processes to tackle poor performance, where persistently failing managers could be sacked if they do not turn things around.

    The bold overhaul also establishes stricter accountability for very senior managers, demanding greater financial rigour across all NHS trusts and Integrated Care Boards (ICBs) and drive productivity.   

    Today’s announcement comes after Health and Social Care Secretary Wes Streeting declared in November there would be ‘no more reward for failure’.

    Health and Social Care Secretary Wes Streeting said:  

    Some of the best businesses and most effective organisations across Britain and the world reward their top talent so they can keep on delivering. There’s no reason why we shouldn’t do the same in our NHS.

    We will reward leaders who are cutting waiting times and making sure patients get better services. But bonuses and pay rises will be a reward and not a right – because I’m determined that every penny we invest through our Plan for Change is money well spent.

    Our carrot and stick reforms will boost productivity, tackle underperformance and drive-up standards for patients.

    Sir Jim Mackey, NHS England Chief Executive, said:

    If we are to consistently reach the standards of care the public rightly expect, it is clear that we need to reward those who are delivering for patients.

    An important element of driving improvements must be strengthening the link between pay and operational performance at a very senior level – this happens in almost every other sector and there is no reason for the NHS to shy away from it, particularly when we rely on money that comes directly from taxpayers’ pockets.

    We will be working together with local leaders to improve transparency and ensure progress is recognised, while offering sufficient flexibility to attract talented candidates to the most challenging roles and organisations.

    Today’s guidelines setting out new penalties and rewards for trust leaders will introduce learning from leading businesses in the NHS.

    It will include strict rules for NHS bosses, who will be expected to spend budgets wisely and ensuring trusts are not going into debt. The government wants to see trusts deliver more efficiency, ensuring patients get more for taxpayers’ money being invested.

    Today’s move follows some of the most ambitious efficiency targets in the health service’s history. As set out in NHS England’s Planning Guidance published in January, NHS organisations will need to reduce their cost base by at least 1% and achieve 4% improvement in productivity and efficiency this financial year to deal with demand growth.

    The new performance-based pay structure will help deliver on these targets, improving services and delivering better care for patients. 

    As part of the plans, the government is also bringing together pay structures for senior managers at ICBs and NHS trusts to boost consistency and align standards. 

    Any trust or ICB that fails to comply with the new guidelines will be required to publicly justify its decision in its annual report under a strict “comply or explain” approach. 

    The tough new measures form part of the government’s Plan for Change, which will see the government deliver investment and reform to cut waiting times from 18 months to 18 weeks. 

    Notes to editors: 

    • *The £15,000 is based on last year’s 5% pay uplifts, and the highest current salary of a trust CEO being £299,250 (under the new framework). 

    • **Based on the highest current salary of a trust CEO (under the new framework).

    Updates to this page

    Published 15 May 2025

    MIL OSI United Kingdom –