Category: Finance

MIL-OSI Security: United States Attorney’s Office and Task Force Honored for Dismantling Violent Criminal Enterprise

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

MARTINSBURG, WEST VIRGINIA – Washington-Baltimore HIDTA has recognized two Assistant United States Attorneys from the United States Attorney’s Office for the Northern District of West Virginia and members of the Eastern Panhandle Drug & Violent Crimes Task Force for an investigation that dismantled a tri-state drug trafficking operation.

Acting United States Attorney Randolph J. Bernard announced that Assistant U.S. Attorneys Lara Omps-Botteicher and Kyle Kane received the Outstanding Community Impact Investigation award at the HIDTA ceremony in Baltimore, Maryland today for their work on a case which dismantled a violent criminal enterprise that was distributing large quantities of fentanyl, heroin, methamphetamine, and cocaine in Maryland, Virginia, and West Virginia. The investigation led to the indictment of 82 co-conspirators and the seizure of nine kilograms of fentanyl/heroin, large amounts of crystal methamphetamine, cocaine, $250,000 in cash and other assets.

“I express my heartfelt thanks to HIDTA for honoring these Assistant United States Attorneys and members of the task force who work tirelessly to remove fentanyl and these other agents of death from our community,” stated Acting United States Attorney Randolph J. Bernard. “The AUSAs and the task force members are on the front lines, days, nights, and weekends using their skills and the most advanced technology to serve the mission of eliminating these poisons and the organizations who distribute them from our country.”

The Eastern Panhandle Drug & Violent Crimes Task Force is a HIDTA-funded initiative and consists of members from the Federal Bureau of Investigation; the Bureau of Alcohol, Tobacco, Firearms and Explosives; the West Virginia State Police-Bureau of Criminal Investigations; the Berkeley County Sheriff’s Office; the Jefferson County Sheriff’s Office; the Martinsburg Police Department; the Ranson Police Department; and the Charles Town Police Department.

Washington-Baltimore HIDTA (High-Intensity Drug Trafficking Area) provides support and guidance to reduce drug trafficking and misuse by improving interagency collaboration, promoting accurate and timely information and intelligence sharing, and specialized training and other resources to law enforcement, intelligence, treatment, and prevention initiatives. To learn more, go to https://www.hidta.org.

This prosecution is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

MIL Security OSI –

April 2, 2025
MIL-OSI Security: Joint Law Enforcement Operation leads to the Indictment of Nine Mississippi Men for Drug and Firearm Trafficking

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

Gulfport, Miss. – A federal grand jury in Gulfport, Mississippi returned indictments charging nine men—Alvonta Demarcus McCray, Melvin McCray, Cameron Fairley, Christopher Chase Brown, Cleon Johnson, Roderick Victor Minter, Tracy Antoine McCall, Nathaniel Jackson, and Jeremy Young—for their involvement in narcotics and firearm trafficking.

These indictments are the result of a joint investigation among the Bureau of Alcohol, Tobacco, Firearms, and Explosives (“ATF”); Homeland Security Investigations (“HSI”); Mississippi Bureau of Narcotics (“MBN”); U.S. Postal Inspection Service; and the Stone County Sheriff’s Department. During the investigation, law enforcement conducted more than 30 operations that resulted in the seizure of 3.98 pounds of methamphetamine, more than 4,000 fentanyl pills, 18 grams of powder fentanyl, and over 20 firearms.

According to the indictments, Alvonta Demarcus McCray was charged in a six-count indictment charging him with conspiracy to possess with intent to distribute-methamphetamine and fentanyl, and five counts of possession with intent to distribute; he is facing up to life in prison. Melvin McCray was charged in a five-count indictment charging him with trafficking firearms, and four counts of possession of a firearm by convicted felon; he is facing up 15 years in prison. Cameron Fairley and Christopher Chase Brown were charged in a joint indictment charging them with trafficking firearms. Fairley is also charged with two counts of possession with intent to distribute methamphetamine. Fairley is facing up to life in prison and Brown is facing up to 15 years in prison. Nathaniel Jackson is charged in a six-count indictment charging him with possession with intent to distribute fentanyl and fentanyl analogue, he is facing up to 20 years in prison. Cleon Johnson is charged with possession of a short-barreled shotgun and is facing up to 10 years in prison. Roderick Victor Minter, and Tracy Antoine McCall are charged in a joint indictment charging them with conspiracy to possess with intent to distribute methamphetamine, and possession with intent to distribute methamphetamine. Minter and McCall are facing up to life in prison. Jeremy Young is charged in a two-count indictment charging him with possession with intent to distribute fentanyl and is facing up to 20 years in prison.

This case is part of Operation Take Back America (https://www.justice.gov/dag/media/1393746/dl?inline) a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

Acting U.S. Attorney Patrick A. Lemon of the Southern District of Mississippi; Special Agent in Charge Joshua Jackson of ATF; Special Agent in Charge Eric P. DeLaune of HSI, Sean Tindell, Commissioner of the Mississippi Department of Public Safety; and Todd Stewart, Sheriff of the Stone County Sheriff’s Department made the announcement.

Assistant U.S. Attorney Hunter McCreight is prosecuting the case.

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

MIL Security OSI –

April 2, 2025
MIL-OSI China: Plan to boost financial support for tech innovation

Source: China State Council Information Office

China on Tuesday unveiled a plan to strengthen financial services for technology-based enterprises, as part of the country’s efforts to promote integrated advancements in technological and industrial innovation.

The plan, jointly issued by the National Financial Regulatory Administration, the Ministry of Science and Technology and the National Development and Reform Commission, outlines measures to boost financial services including service mechanism establishment, product supply, specialized services and risk control capabilities.

The plan aims to promote the establishment of a financial service mechanism, supporting parties such as governments at all levels, technology firms, financial institutions, venture capital funds, and third-party intermediary service agencies in building a multi-level technology financial service ecosystem.

Efforts will be made to bolster services in technology credit and insurance, promote the pilot projects of technology finance policies, strengthen cooperation with institutions such as venture capital, and support the bond financing of technology-based enterprises.

Financial institutions are encouraged to leverage advanced technologies including cloud computing, big data and artificial intelligence to develop digital business tools to enhance operational effectiveness and risk control capabilities.

Financing guarantee services will be enhanced for technology-based enterprises, with the establishment of a differentiated assessment and evaluation system, according to the plan.

MIL OSI China News –

April 2, 2025
MIL-Evening Report: The Medical Research Future Fund has grown far beyond its target. Why is so much of the money unused?
Source: The Conversation (Au and NZ) – By Lesley Russell, Adjunct Associate Professor, Menzies Centre for Health Policy and Economics, University of Sydney

AshTproductions/Shutterstock

Australian researchers are reeling from the international reach of the Trump administration’s ideological war on science and research, which threatens local research projects that receive funding from the United States National Institutes of Health.

In this context, some may have found a grain of comfort in Opposition Leader Peter Dutton’s budget reply speech with his commitment of continued support for the Medical Research Future Fund.

The fund provides a concrete opportunity to supplant those US funds without further cost to the federal budget. But to date the Medical Research Future Fund has struggled to deliver on the promises made at its inception in 2015 that, a decade on, are still so needed.

What is the Medical Research Future Fund?

This research fund was the sweetener in the Abbott government’s 2014–2015 budget, which slashed spending in health and Indigenous Affairs. Virtually all the savings were invested in the new research fund, with the target of reaching $A20 billion at maturity (this happened in 2020) and then distributing $1 billion each year.

The funds are allocated in accordance with the Medical Research Future Fund’s funding principles. They are based on Australia’s medical and research innovation strategy (revised every five years) and priorities (which should be revised every two years, but have not been updated since 2022). These are set by an independent medical research advisory board.

However, it is the federal government, via the Minister for Health and Aged Care, who develops the ten-year investment plan and has the final say in how funds are used.

How is the money being used?

The current ten-year plan (for the decade to 2033–2034) has four themes: patients, researchers, research missions and research translation. There are 22 initiatives under these themes across a wide range of basic and clinical research areas, population health initiatives and commercialisation endeavours.

The Future Fund Management Agency is in charge of investing the funds which, by September 2024, had now grown to $23.85 billion.

But although the returns on investment have always been above the annual set targets, the returns to research have fallen well short. This is because in 2021 the Morrison Government – with Labor support – enacted legislation to cap the fund’s expenditure at $650 million a year.

Since 2015, the fund’s investments have earned $6.435 billion. Yet only $3.15 billion has gone out to fund research (data as of September 2024).

This year, the Future Fund Board of Guardians has set the “maximum annual distribution amount” at $1.053 billion.

The cap on yearly spending means $403 million that could boost research funding remains locked up in an oversubscribed investment portfolio. That pot of unallocated research funds will continue to grow unless there are legislative changes to lift the cap.

A tough climate for research

It’s not an exaggeration to say these are tough times for Australian researchers. Australian investment in research and development, as a proportion of GDP, has been falling steadily behind the OECD average.

Funding awarded by the National Health and Medical Research Council (the other main source of government funding for biomedical research) has almost flat-lined over the past decade, at an average of $887 million a year.

Success rates for researchers securing National Health and Medical Research Council and Medical Research Future Fund grants are at historic lows. The adverse impact on research and researchers is recognised on the National Health and Medical Research Council website.

The COVID pandemic, the growing obesity epidemic, the burgeoning mental health crisis, health threats of climate change, the disappointing failures of Closing the Gap initiatives, and growing health inequalities – all point to the need to spend more on research and to do this smarter.

The Medical Research Future Fund could and should do much more to fulfil its aim “to transform health and medical research and innovation to improve lives, build the economy and contribute to health system sustainability”.

So, is it working?

Over the years, there has been a range of criticisms of the fund’s processes. These prevent it from realising its mission and include:
- funds have been allocated outside the established priorities
- reporting on the fund’s activities and outcomes is not timely and lacks transparency and accountability (note the required report to parliament for 2022–2024 is not yet available)
- there is no collaboration across research missions and with the various agencies of the federal government, particularly the the National Health and Medical Research Council
- not enough has been done to ensure consumers and patients are actively consulted and involved
- funding is focused on disease groups with high rates of premature deaths at the expense of those that cause disabilities.
What’s being done to fix the issues?

Some of these issues are being addressed. In particular, efforts are underway to reform the governance and administration of the Medical Research Future Fund and the National Health and Medical Research Council’s Medical Research endowment account. This to ensure the community obtains the greatest benefits from these investments in health and medical research. However, the timetable is regrettably slow – this work began in May 2023.

The hard reality is that boosting Australia’s biomedical research capabilities and capacities requires bipartisan political commitment, which has been scarce in recent times.

The last two budgets from the Albanese Government offered little for research, aside from the existing commitments to the fund. To date, all we have from Dutton is a single statement highlighting his role in establishing the fund and his ongoing commitment to it.

It’s time to boost Australia’s reputation as a country that nurtures and promotes research excellence. This would be both an investment in Australians’ health and well-being and Australia’s economy and a counter to Trump’s denigration of biomedical science.

I have previously worked as a health policy advisor to the Australian Labor Party.

– ref. The Medical Research Future Fund has grown far beyond its target. Why is so much of the money unused? – https://theconversation.com/the-medical-research-future-fund-has-grown-far-beyond-its-target-why-is-so-much-of-the-money-unused-253338
MIL OSI Analysis – EveningReport.nz –
April 2, 2025
MIL-OSI Security: Bank Fraud Ringleader, “Scamdaddy,” Sentenced to Prison for Defrauding Utah Credit Unions

Source: Office of United States Attorneys

Defendant helped run a multi-state bank fraud ring that stole nearly half a million dollars from Utah-based credit unions

SALT LAKE CITY, Utah – Matthew Acquah, 24, of Los Angeles, California, was sentenced today to 36 months’ imprisonment, a term of three years’ supervised release, and ordered by the court to pay $452,000 in restitution for his role defrauding Utah-based credit unions out of nearly half a million dollars.

The sentence, imposed by Chief District Judge Robert J. Shelby, comes after Acquah pleaded guilty in January 2025 to counts of bank fraud, bank fraud conspiracy, and aggravated identity theft.

According to court documents and statements made at Acquah’s change of plea and sentencing hearings, Acquah admitted that he used fraudulent identification documents to open lines of credit on behalf of unwitting victims and then take out unauthorized cash advances. He also admitted helping plan and execute numerous bank fraud sprees in Utah involving out-of-state coconspirators. According to prosecutors, Acquah was referred to as “Scamdaddy” or “Playboy Prince” by his coconspirators. Acquah arranged airfare for coconspirators, booked hotel rooms, facilitated vehicles and drivers, trained new recruits, and performed other management functions for the bank fraud ring.

Between December 2023 and June 2024, Acquah admitted that his fraud ring managed to obtain over $450,000 in fraud proceeds from credit unions in Utah. According to documents filed with the court, Acquah used his share to fund a lavish lifestyle, including an apartment in downtown Los Angeles and a vehicle. He was arrested with over $100,804 in U.S. currency split between his apartment and an offsite storage unit, which will be used to repay victims.

The case was investigated jointly by Homeland Security Investigations and the Taylorsville City Police Department.

Assistant United States Attorney Tanner Zumwalt of the U.S. Attorney’s Office for the District of Utah prosecuted the case.

MIL Security OSI –

April 2, 2025
MIL-OSI China: US stocks close mixed as investors await tariff clarity

Source: China State Council Information Office

U.S. stocks ended mixed on Tuesday in a volatile session as investors awaited clarity on U.S. President Donald Trump’s tariff rollout, while weaker-than-expected economic data added to market pressure.

The Dow Jones Industrial Average fell by 11.80 points, or 0.03 percent, to 41,989.96. The S&P 500 added 21.22 points, or 0.38 percent, to 5,633.07. The Nasdaq Composite Index increased by 150.60 points, or 0.87 percent, to 17,449.89.

Nine of the 11 primary S&P 500 sectors ended in green, with consumer discretionary and communication services leading the gainers by going up 1.14 percent and 1.02 percent, respectively. Meanwhile, health and financials dropped 1.75 percent and 0.16 percent, respectively.

Consumer discretionary stocks outperformed, with Tesla gaining 3.59 percent and Nike rising more than 2 percent.

Economic concerns deepened as the Institute for Supply Management’s manufacturing survey indicated contraction, coming in below expectations. Additionally, February’s job openings slightly missed estimates, according to the U.S. Bureau of Labor Statistics.

Investors are waiting for Wednesday’s expected announcement of reciprocal tariffs on imports from nearly all countries. While some had hoped for a more targeted approach, the White House confirmed the tariffs would take effect immediately upon announcement.

“The lack of certainty and the shroud of secrecy has been driving the market insane,” said Jay Woods, chief global strategist at Freedom Capital Markets.

The Washington Post reported Tuesday that the administration is considering broad tariffs of about 20 percent on most imports. Meanwhile, the Atlanta Federal Reserve’s GDPNow model has slashed its first-quarter growth estimate to a concerning -1.4 percent annualized rate, down from -0.5 percent just last week. This deepening contraction signals mounting economic pressures, as tariffs, inflation, and weakening consumer sentiment weigh on growth prospects.

Raymond James’ Washington policy analyst Ed Mills cautioned that tariff-related uncertainty is unlikely to dissipate anytime soon. “I think that we’re going to have some immediate tariffs, at least on that, so called ‘dirty 15’ tomorrow, it might be expanded out a little bit. I do think that we’ll also get investigations into the rest of the world,” he said.

However, RBC Wealth Management predicts that stocks could rebound in the coming months following a volatile first quarter. “The silver lining is that after a 10 percent correction by the S&P 500, weekly indicators, tracking 2-4 month swings, are increasingly oversold for the S&P 500 and most growth and cyclical stocks as they test next technical support,” technical strategist Robert Sluymer wrote in a Tuesday note. “With weekly indicators moving into oversold territory heading into earnings season, our expectation is that a tactical Q2 rebound is likely given sentiment surveys are suitably bearish.”

MIL OSI China News –

April 2, 2025
MIL-OSI USA: Cantwell Joins Booker in Marathon Floor Speech Against Trump Agenda

US Senate News:

Source: United States Senator for Washington Maria Cantwell
04.01.25
Cantwell Joins Booker in Marathon Floor Speech Against Trump Agenda
Senator Cory Booker (D-NJ) is one hour away from breaking the record for the longest floor speech ever.
WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, joined Senator Cory Booker (D-NJ) on the Senate floor to speak out against President Trump’s budget resolution, which proposes up to an $880 billion cut from Medicaid, and DOGE’s proposals to shut down Social Security offices and lay off 7,000 workers, making it harder for Americans to access the benefits they earned and are entitled to.
“I so appreciate?the Senator from New Jersey?trying to articulate the urgency?of this moment,” Sen. Cantwell said. “People are trying to?rearrange essential services,?contractual obligations, things?like Social Security, Medicaid,?or even Medicare by basically saying we have?this efficiency strategy — when in?reality, they’re over there with numbers just trying to carve?something out of the budget.”
“Elon Musk called it a Ponzi?scheme.?The richest man in the world, and?the most powerful man in the?world, himself a billionaire, are?attacking the programs that millions?and millions of our citizens?rely on,” said Sen. Booker.
Sen. Cantwell continued: “So in my state, I’m hearing from hospitals that?that means they could close, that?means essential Medicaid?services that are used even in?our jails or for fentanyl?treatment or Medicaid that is used as an Obamacare expansion for?health care, that so many – literally, red Republican?states, Republican governors, have said we want that.”
“I keep saying over and over — America, this is not right or left. It’s right or wrong. It’s not a partisan moment. It’s an American moment. It’s a moral moment,” Sen. Booker continued. “What is it going to take for us to say ‘no’ with such a firm voice, such a chorus of conviction – thousands, hundreds of thousands of Americans — red, white and blue, every state saying, do not do this for no good reason but to give the majority of your tax cuts to billionaires like Elon Musk. It makes no sense.”
Video of Sen. Cantwell’s exchange on the Senate floor with Sen. Booker is available HERE, audio HERE, and a full transcript is HERE.

MIL OSI USA News –

April 2, 2025

MIL-OSI Australia: 2022 Completed matters

Source:

Below are the consultation matters registered in 2022 that have been completed.

If you require further information about the matters listed below, email consult@ato.gov.au.

[202230] Sharing Economy Reporting Regime

[202229] Military super invalidity benefit streamlined objection process

[202228] Next 5,000 comprehensive risk review process

[202227] Super health checks

[202226] Improve small business tax performance

[202225] Tax liability of legal personal representative of a deceased person

[202224] User research – Retirement villages

[202223] Capital gains tax record keeping tools and calculators

[202222] Superannuation guarantee charge letter

[202221] FBT record keeping

[202220] Lodgment deferrals in Online services for agents

[202219] Working from home deductions from 2022–23 tax year

[202218] User testing – Tax Time 2022 communications for individual taxpayers

[202217] MBR program companies release

[202216] 2022 Review of the Taxpayers’ Charter

[202214] Enterprise Client Register

[202213] Advance pricing arrangements program review

[202212] Automatic Exchange of Information guide and toolkit for Reporting Financial Institutions

[202211] Deduction for entering into a conservation covenant

[202210] eInvoicing communications

[202209] Undisputed tax debt data reporting

[202207] User testing – Online services for foreign investors

[202206] GST offsetting between unrelated entities

[202205] Corporate Collective Investment Vehicle

[202204] Self-assessed income tax exempt not-for-profits

[202203] Build-to-rent

[202201] 2022 Digital Services Gateway APIs

[202230] Sharing Economy Reporting Regime
Consultation purpose	To seek feedback regarding implementation of the new Sharing Economy Reporting Regime including: public advice and guidance reporting requirements (data and lodgment).
Description	Schedule 2 of the Treasury Laws Amendment (2022 Measures No. 2) Act 2022External Link requires operators of electronic distribution platforms (EDPs) to report information to the ATO on transactions relating to supplies made through the platform. This measure implements a recommendation of the report of the Black Economy Taskforce. Under the measure, EDP operators will be required to report transactions that occur on or after: 1 July 2023 if it relates to a supply of taxi services or short-term accommodation, and 1 July 2024 for all other reportable transactions.
Who we consulted	Operators of EDPs in the taxi, ride sharing and short-term accommodation industries Professional associations Technical and peak industry bodies Tax professional associations
Outcome of consultation	Feedback from consultation provided valuable insights in the development of the Implementation Guide, XML Schema, Legislative Instruments and Explanatory Statement to support Tranche 1 industries with the implementation of the Sharing Economy Reporting Regime.
Consultation lead	Vanessa Kelly, Small Business vanessa.kelly2@ato.gov.au Phone 02 4223 2851

[202229] Military super invalidity benefit streamlined objection process
Consultation purpose	To test tone and clarity of messaging in a proposed letter to military veterans impacted by changes to the tax and superannuation treatment of specific invalidity benefit payments.
Description	Due to the Full Federal Court decision in Commissioner of Taxation v Douglas [2020] FCAFC 220 (the Douglas decision), the tax and superannuation treatment of specific invalidity benefit payments has changed. Those affected by the Douglas decision can request remediation to previous year tax assessments through the objection process.
Who we consulted	Tax agents who have military veteran clients who are impacted by the Douglas decision Veteran advocacy groups
Outcome of consultation	Consultation provided valuable feedback that has improved the clarity of the letter. Feedback will also contribute to some key changes to website content.
Consultation lead	Simon Dann, Objections and Review simon.dann@ato.gov.au Phone 07 3149 5754

[202228] Next 5,000 comprehensive risk review process
Consultation purpose	To seek feedback on the proposed process for Next 5,000 comprehensive risk reviews that are planned to commence in early 2023.
Description	As part of the Next 5,000 program, the ATO will be commencing comprehensive risk reviews in early 2023. These reviews will be a new type of engagement using a risk based approach undertaken by the program, and will complement our existing streamlined assurance reviews.
Who we consulted	Tax professionals who engage with the Next 5,000 program
Outcome of consultation	Feedback was considered and incorporated into the process for the Next 5,000 comprehensive risk reviews.
Consultation lead	Ashleigh Larner, Private Wealth ashleigh.larner@ato.gov.au Phone 08 9268 0901

[202227] Super health checks
Consultation purpose	To explore tax agent views on: the level of awareness individual clients have in their superannuation appetite to undertake a super health check with individual clients, including during preparation of income tax returns tools and resources the ATO could provide to assist with super health check conversations.
Description	Research shows that up to 70% of individuals do not regularly manage their super or check that it’s in order. The ATO would like individuals to have greater awareness about their basic super entitlements and take more ownership and interest in their super earlier and is exploring how we might encourage this.
Who we consulted	Tax agents with individual clients
Outcome of consultation	Feedback indicated that individuals’ awareness of superannuation could be improved and that tax time interactions would be a good time for a super health check, which tax agents would undertake with their clients if provided with the necessary support from the ATO. Insights will inform our work on this strategy in the future.
Consultation lead	Tara Rischmueller, Superannuation and Employer Obligations tara.rischmueller@ato.gov.au Phone 08 8208 2935

[202226] Improve small business tax performance
Consultation purpose	To: co-design a roadmap to digitalise the tax experience for small business in ways that improve small business tax performance and provide value back to small business explore concepts to streamline the tax experience.
Description	Improve small business tax performance and participation by collaborating with partners to build a digital first tax ecosystem, enabling seamless tax reporting from business source systems, is one of the key focus areas in the ATO corporate plan 2022-23. The aim is to develop concepts that will: improve small business tax performance create productivity savings for small businesses deliver economy wide value from increased permission-based standardised data sharing increase participation in and integrity of the tax ecosystem.
Who we consulted
Outcome of consultation	Consultation provided valuable feedback which: contributed to development of the draft Roadmap to Tax Admin 3.0 for small business will be considered in the identification of concepts to streamline the tax experience has enhanced ATO’s understanding of the need to ensure changes to technology and the role of people and business processes are integrated, to collectively improve small business tax performance for successful digitalisation of tax administration.
Consultation lead	Andrew Watson, Small Business andrew.watson@ato.gov.au Phone 08 8208 1826

[202224] User research – Retirement villages
Consultation purpose	To understand the retirement village life-cycle (including income tax, GST and commercial aspects) to identify: if existing advice and guidance supports taxpayers to meet their obligations opportunities to improve the operation of the tax system.
Description	The retirement village industry has materially evolved over the last few years with significant expansion in the sector. The ATO is seeking to understand the impacts.
Who we consulted	Representatives of industry associations who are connected with or have expert knowledge of retirement villages Tax and legal professionals
Outcome of consultation	Feedback provided has informed the ATO’s understanding of the retirement village life cycle. These insights will be taken into account in informing potential future engagement with the industry and its advisers.
Consultation lead	Rosie Cicchitti, Private Wealth rosie.cicchitti@ato.gov.au Phone 07 3213 8073

[202225] Tax liability of legal personal representative of a deceased person
Consultation purpose	To seek feedback on the practical application of Practical Compliance Guideline PCG 2018/4 Income tax – liability of a legal personal representative of a deceased person.
Description	The Inspector-General of Taxation and Taxation Ombudsman published the Death and Taxes: An Investigation into ATO systems and processes for dealing with deceased estatesExternal Link report on 7 July 2020. Part (b) of recommendation 10 in the report recommended that the ATO conduct a post-implementation review of the PCG, in consultation with external stakeholders, to assess its effectiveness in providing sufficient certainty for legal personal representatives to finalise an estate.
Who we consulted	Tax and law professional associations Tax practitioners Public trustees
Outcome of consultation	Feedback received is being considered for incorporation into the updated Practical Compliance Guideline
Consultation lead	Danijela Jablanovic, Individuals and Intermediaries danijela.jablanovic@ato.gov.au Phone 07 3213 5864

[202223] Capital gains tax record keeping tools and calculators
Consultation purpose	To understand the capital gains tax (CGT) tools and calculators user experience to identify opportunities for improvement.
Description	The ATO has multiple CGT tools and calculators to support taxpayers in determining their CGT for lodgment of their tax returns. The ATO is undertaking research to: understand current issues, irritants, experiences and behaviours to optimise future CGT tool solutions identify opportunities to expand the use of ATO held CGT data to improve the taxpayer experience and compliance in reporting and calculation of CGT gains and losses.
Who we consulted	Individual taxpayers Tax practitioner representatives
Outcome of consultation	Consultation provided valuable feedback which will be considered in the development of enhancements to CGT tools and calculators.
Consultation lead	Dejan Markov, Enterprise Strategy and Design dejan.markov@ato.gov.au Phone 08 8208 3608

[202222] Superannuation guarantee charge letter
Consultation purpose	To test tone and clarity of messaging in a proposed superannuation guarantee charge letter to businesses and tax practitioners.
Description	If employers do not pay an employee’s minimum superannuation amount on time and to the right fund, they must pay the superannuation guarantee charge to the ATO. The ATO engages with employers who are not meeting their superannuation guarantee obligations and/or their tax practitioners.
Who we consulted	Small to medium business employers Tax practitioners
Outcome of consultation	Feedback provided will be incorporated into the superannuation guarantee charge letter in future communication to clients.
Consultation lead	Kate Haymes, Enterprise Strategy and Design kate.haymes@ato.gov.au Phone 07 3119 9866

[202221] FBT record keeping
Consultation purpose	To seek feedback on proposed Legislative Instruments and Explanatory Statements for the implementation of the FBT reduced record keeping budget measure, as published with the Fringe benefits tax – record keeping exposure draft legislationExternal Link consultation on treasury.gov.au
Description	The Fringe Benefits Tax — reducing the compliance burden of record keeping measure was announced the in the 2021–22 Budget. The measure will provide the Commissioner of Taxation with the power to allow employers to rely on existing corporate records as an alternative to existing requirements. This will reduce compliance costs for employers, while maintaining the integrity of the FBT system. For consultation on the associated legislation, see Fringe benefits tax – record keeping exposure draft legislationExternal Link on treasury.gov.au
Who we consulted
Outcome of consultation	Feedback will be considered in finalisation of the legislative instruments and explanatory statements.
Consultation lead	Philip Borrell, Superannuation and Employer Obligations philip.borrell@ato.gov.au Phone 02 6058 7881

[202220] Lodgment deferrals in Online services for agents
Consultation purpose	To co-design the lodgment deferral process in Online services for agents and test the functionality prior to implementation.
Description	The ATO is expanding Online services for agents services to include lodgment deferrals. The intent is to: streamline the lodgment deferral request process decrease request processing timeframes provide visibility of the progress of requests.
Who we consulted	Tax practitioner representatives Digital service providers Members of
Outcome of consultation	Consultation provided valuable feedback which contributed to the design and build of the service and support material.
Consultation lead	Felix Manero, Individuals and Intermediaries OSfALodgmentDeferrals@ato.gov.au Phone 07 3213 3552

[202219] Working from home deductions from 2022–23 tax year
Consultation purpose	To seek insights to inform guidance that will assist taxpayers in the calculation of their working from home deductions for 2022–23 and future income years.
Description	The temporary shortcut method was introduced to assist taxpayers to work out their working from home deductions between 1 March 2020 and 30 June 2022. With the cessation of the shortcut method, the ATO is refreshing the fixed rate method for calculating work from home deductions.
Who we consulted
Outcome of consultation	Feedback was considered for incorporation into Draft Practical Compliance Guideline PCG 2022/D4 Claiming a deduction for additional running expenses incurred while working from home – ATO compliance approach which was published for public consultation on 2 November 2022.
Consultation lead	Lloyd Williams, Individuals and Intermediaries lloyd.williams@ato.gov.au Phone 02 6216 1030

[202218] User testing – Tax Time 2022 communications for individual taxpayers
Consultation purpose	To test the tone and clarity of Tax Time 2022 communications for individual taxpayers.
Description	Tax time communications provide taxpayers with guidance to help get it right when preparing their tax return. The ATO is user testing the communications for individual taxpayers to identify opportunities for refinement to improve the user experience.
Who we consulted	Individual taxpayers
Outcome of consultation	Feedback provided is being incorporated into future tax time communications to individual taxpayers.
Consultation lead	Kate Haymes, Enterprise Strategy and Design kate.haymes@ato.gov.au Phone 07 3119 9866

[202217] MBR program companies release
Consultation purpose	To test the design and functionality of the proposed design of the Modernising Business Registers (MBR) program companies release to identify opportunities for refinement to improve the user experience prior to implementation.
Description	The companies release is part of the modernisation of business registers program, a component of the package of reforms to address illegal phoenixingExternal Link that was announced by government in September 2017 and received Royal Assent on 22 June 2020. The companies release will provide over 3 million companies with a more streamlined way to register, view and maintain company details using ABRS online. Consultation will be through a series of phases covering the ABRS website, company registrations, maintenance, and search.
Who we consulted	Community who may use ABRS Directors and intending directors Company officeholders Company administrators and intermediaries Tax practitioners Business representatives Government agencies Modernising Business Registers Business Advisory Group Modernising Business Registers Design Working Group
Outcome of consultation	Consultation is discontinued. The Hon Stephen Jones MP, Assistant Treasurer and Minister for Financial Services, has announced the cessation of the Modernising Business Registers (MBR) program. The decision follows the Independent Review of the MBR program which was completed in July 2023.
Consultation lead	Jonathan Solomon, MBR Program mbrengagement@ato.gov.au Phone 07 3213 3183

[202216] 2022 Review of the Taxpayers’ Charter
Consultation purpose	To seek feedback on the Taxpayers’ Charter.
Description	The ATO is committed to undertaking a regular review of the Taxpayers’ Charter to ensure it remains contemporary and: meets community expectations about how the ATO engages with taxpayers in its administration of the tax, super and registry systems accurately reflects what our clients can expect from the ATO when dealing with us assists staff in their interactions with our clients fulfils its purpose of advising the public of their rights when dealing with the ATO. The Charter should continue to support the ATO’s aim to build taxpayer confidence in the Australian tax and superannuation systems by helping people understand their rights and obligations, improving ease of compliance and access to benefits, and managing non-compliance with the law. The Inspector-General of Taxation and Taxation Ombudsman made a series of recommendations on the Charter in its 2020–21 Investigation into the effectiveness of ATO communications of taxpayers’ rights to complain, review and appeal.
Who we consulted	Taxpayers Industry associations Professional associations, including those representing business sectors tax and bookkeeping professionals culturally and linguistically diverse audiences Members of the
Outcome of consultation	A high volume of feedback, mainly from accounting, legal, and diverse audiences, identified opportunities to improve the Charter. All feedback will be considered for incorporation into an update of the Charter.
Consultation lead	Chris Cook, ATO Corporate chris.cook@ato.gov.au Phone 02 6216 6355

[202214] Enterprise Client Register
Consultation purpose	To seek insights into agents’ experience and understanding of their role in the integrity of the Enterprise Client Register.
Description	The Enterprise Client Register is the key source of client information used in every client interaction across the ATO. The ATO will: explore differing agent business models and any impact on updating client contact details seek to understand the intermediary experience with client contact details identify opportunities to improve the user experience.
Who we consulted	Tax agents BAS agents
Outcome of consultation	Consultation provided valuable insights into the Enterprise Client Register user experience and identified opportunities for improvement.
Consultation lead	Tina Markov, Client Account Services tina.markov@ato.gov.au Phone 08 8208 1428

[202213] Advance pricing arrangements program review
Consultation purpose	To seek feedback on the advance pricing arrangement (APA) program.
Description	We will be undertaking a review of the APA Program in 2022, with a primary focus on: whether the APA product continues provide the right service for all taxpayers assuring transfer pricing risk in the most efficient manner possible.
Who we consulted	Taxpayers Tax advisory firms Tax industry associations Other APA program participants
Outcome of consultation	Feedback provided valuable insights which will be used to guide further improvement of the APA Program.
Consultation lead	Tien Phan, Assistant Commissioner, Public Groups and International tien.phan@ato.gov.au Phone 03 8632 5283

[202212] Automatic Exchange of Information guide and toolkit for Reporting Financial Institutions
Consultation purpose	To seek input and insights on a proposed Automatic Exchange of Information (AEOI) self-review guide and toolkit for Reporting Financial Institutions.
Description	The guide will assist and support Reporting Financial Institutions to self-review their internal control framework to ensure they meet AEOI compliance obligations, which cover Common Reporting Standard and Foreign Account Tax Compliance Act obligations. It will include practical guidance for self-review of core elements: AEOI governance due diligence reporting systems data testing.
Who we consulted	Tax practitioners Financial institutions
Outcome of consultation	Feedback received was considered and incorporated into the AEOI Self-review guide and toolkit.
Consultation lead	Jaydon Beatty, Public Groups and International jaydon.beatty@ato.gov.au Phone 02 6216 4158

[202211] Deduction for entering into a conservation covenant
Consultation purpose	To seek feedback on: the ATO’s preliminary position regarding deductibility, under Division 31, when a conservation covenant is entered into to satisfy environmental approvals for a mining project whether public advice and guidance is required and the type of guidance.
Description	Division 31 of the Income Tax Assessment Act 1997 provides for a deduction for the decrease in the market value of land when a perpetual conservation covenant over your land is entered into provided certain conditions are satisfied. Deductions for the decrease in the market value of the land must be based on a valuation obtained from the ATO. Valuation requests from taxpayers, in the energy and resources sector, have raised questions about whether taxpayers entering a conservation covenant, to meet environmental approval conditions for mining projects, receive material benefits which would disqualify them from receiving a deduction.
Who we consulted	Energy and Resources Working Group
Outcome of consultation	Feedback will be used to guide our communication strategy relating to valuation requests for conservation covenants from Energy and Resources Working Group members.
Consultation lead	John Churchill, Office of the Chief Tax Counsel john.churchill2@ato.gov.au Phone 03 6221 0258

[202210] eInvoicing communications
Consultation purpose	To seek insights from eInvoicing users and their intermediaries to inform future messaging and engagement activities related to raising awareness and driving adoption of eInvoicing across Australia.
Description	The ATO is leading activities to raise awareness and drive adoption of eInvoicing in Australia. This includes working with businesses, intermediaries, service providers, and all levels of government to understand their current invoicing processes and support them in adopting eInvoicing to realise the economic benefits of eInvoicing. The ATO will: seek to understand the current invoicing process for all stakeholders establish current knowledge and awareness levels develop supporting materials for various segments and validate their effectiveness.
Who we consulted	Small to medium enterprise businesses Tax professionals Digital service providers
Outcome of consultation	Feedback provided will be used to shape the ATO’s eInvoicing awareness activities and messaging with intermediaries and small businesses. Insights will also be communicated to accounting software providers to improve future user experiences.
Consultation lead	Patrick Brophy, Enterprise Solutions and Technology patrick.brophy@ato.gov.au Phone 02 6216 1940

[202207] User testing – Online services for foreign investors
Consultation purpose	To seek insights to inform the design and build of Online services for foreign investors (formerly known as the Foreign Ownership of Australian Assets Register).
Description	The ATO is developing Online services for foreign investors which will replace and expand upon the existing Foreign Ownership of Water Entitlements Register and Foreign Ownership of Agricultural Land Register. This supports reforms to Australia’s Foreign Investment Framework. Consultation will consider: navigation functionality – including but not limited to payments, registration, and maintenance of registration usability.
Who we consulted	Foreign persons, or their representative, who apply to acquire or register ownership of foreign assets on their own behalf or for entities Solicitors and conveyancers registering for clients
Outcome of consultation	Consultation provided valuable input into the design and build of Online services for foreign investors, as well as shaping the information that will be included in web content and communications.
Consultation lead	Rebecca Northey, Public Groups and International rebecca.northey@ato.gov.au Phone 02 4923 1900

[202206] GST offsetting between unrelated entities
Consultation purpose	To seek feedback on paragraph 5 of the Law Administration Practice Statement PS LA 2011/21 Offsetting of refunds and credits against taxation and other debts to provide greater clarity to support ATO staff decision-making and to support taxpayers in self-assessing whether requesting such an offset is appropriate.
Description	Paragraph 5 of PS LA 2011/21 provides guidance to ATO staff where a taxpayer requests to have their refund or credit offset against the tax debt of another entity. The current guidance does not provide assistance in determining the circumstances in which the criteria would be satisfied for the Commissioner to agree to perform such an offset. For instance, in practice we think it would be rare that paying the refund in this manner would be an efficient, effective, economical and ethical use of public resources for which the Commissioner is responsible.
Who we consulted	Tax advisory firms
Outcome of consultation	Feedback provided valuable insights and suggestions for potential improvements to our guidance.
Consultation lead	Renae Carter, Small Business renae.carter@ato.gov.au Phone 02 9374 2942

[202205] Corporate Collective Investment Vehicle
Consultation purpose	To identify, prioritise, and address administrative and interpretative issues that require support to implement the new Corporate Collective Investment Vehicle (CCIV) measure.
Description	In the 2021–22 federal Budget, the Australian Government announced that it will progress the tax and regulatory framework for the CCIV with a commencement date of 1 July 2022. The new legislation aligns the tax framework for the CCIV regime with the tax regime for attribution managed investment trusts (AMITs). CCIVs will be required to meet similar eligibility criteria as managed investment trusts (MITs). This includes being widely held and engaging primarily in passive investment activities. CCIVs that are not eligible for AMIT tax treatment will be subject to the ordinary trust taxation rules in Division 6 or trading trust rules in Division 6C, as applicable, of the Income Tax Assessment Act 1936. As a CCIV is a new corporate entity, deemed to be a trust for tax purposes, there are a range of administrative considerations and tax interaction issues to resolve to ensure implementation by 1 July 2022; for example, registration, eligibility, distributions, reporting.
Who we consulted	Advisers with significant managed fund experience Representatives from industry associations, including Financial Services Council Property Council of Australia Law Council of Australia Australian Custodial Services Association
Outcome of consultation	Consultation: facilitated identification of operational and administrative issues and provided valuable feedback which contributed to the design and build of the tax administrative framework and support material for the CCIV regime provided valuable insights on interpretive issues which will be further considered in the development of public advice and guidance.
Consultation lead	Blake Sly, Public Groups and International blake.sly@ato.gov.au Phone 02 4923 1814

[202204] Self-assessed income tax exempt not-for-profits
Consultation purpose	To understand the impacts that the government announced reform will have on self-assessing income tax exempt not-for-profits (NFPs) and co-design the lodgment process.
Description	Currently NFPs who self-assess their own eligibility for income tax exemption are not required to report their eligibility to the ATO. In the May 2021–22 Budget, the Australian Government announced reforms to the administration of NFP entities that self-assess as income tax exempt. From 1 July 2023, non-charitable NFPs with an active ABN will be required to lodge an annual self-review return to access income tax exemption, submitting the information they ordinarily use to self-assess their eligibility for income tax exemption. The ATO will explore: how NFPs currently self-assess income tax exempt eligibility impacts of the changes on NFPs expectations for implementation support and guidance NFPs will need through the change. The ATO will consult the sector to: user-test and iteratively refine the new annual self-review return co-develop practical support and refresh public guidance validate the ATO’s administrative approach.
Who we consulted	Members of the Tax Practitioner Stewardship Group
Outcome of consultation	The consultation objectives to understand sector impacts and co-design the lodgment process have been successfully achieved. As a direct result of insights and co-design feedback the following enhancements to the taxpayer experience have been implemented: streamlining the NFP self-review return from over 20 questions to 5 core questions to determine eligibility for an income tax exemption introducing tailored and guided logic and help text to make the return easier to complete providing an alternative self-help phone lodgment service for NFPs having trouble accessing the digital return in Online services additional time to lodge through to 31 March 2025 transitional support for taxable NFPs, including concessional due date to lodge and pay income tax return remission of general interest charge and penalties flexible payment plans support to reconstruct tax records focusing on lodgment of the 2023–24 income year and onwards, noting we may take compliance action if we identify deliberate past tax evasion or fraud introducing a new non-lodgment advice form for taxable NFPs to meet their income tax return reporting obligations providing an NFP governance checklist to assist NFPs in meeting their broader tax and super obligations. Lodgment data and feedback from the NFP sector have validated that the return is straightforward and takes less than 10 minutes to complete. However, the sector continues to experience challenges updating their Australian business number details and setting up myID and Relationship Authorisation Manager to access the digital return. The next phase of consultation will focus on supporting the digital onboarding of the sector and lodgment education and support.
Consultation lead	Jennifer Moltisanti, Small Business jennifer.moltisanti@ato.gov.au Phone 03 9285 1711

[202203] Build-to-rent
Consultation purpose	To explore the emerging models of Build-to-rent developments in Australia to understand the opportunities to support the industry with their tax obligations.
Description	Build-to-rent is forecast to take off over the next 5 years. We are seeing growing interest from industry and government with incentives and concessions for Build-to-rent developments increasing.
Who we consulted	Members of the State Government representatives
Outcome of consultation	Consultation provided valuable insights into the Build-to-Rent industry, highlighting the complexity and improving ATO’s understanding of the various Build-to-Rent models and associated tax issues.
Consultation lead	Peter Chester, Private Wealth peter.chester@ato.gov.au Phone 07 3213 5957

[202201] 2022 Digital Services Gateway APIs
Consultation purpose	To co-design Digital Services Gateway (DSG) features and Application Programming Interfaces (APIs).
Description	The DSG was implemented in 2021 to enable lightweight APIs to support digital service providers deliver tax and superannuation services.
Who we consulted	Digital service providers
Outcome of consultation	Digital service providers shared valuable insights which contributed to the development of DSG APIs.
Consultation lead	Sonia Lark, Digital Partnership Office, Enterprise Solutions and Technology sonia.lark@ato.gov.au Phone 02 4725 7460

MIL OSI News –

April 2, 2025

MIL-OSI Security: Slidell Man Guilty Of Machine Gun Possession

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

NEW ORLEANS, LOUISIANA – Acting U.S. Attorney Michael M. Simpson announced that on March 27, 2025, CUONG QUOC TRAN (“TRAN”), age 39, of Slidell, La, pleaded guilty to possession of a machine gun, in violation of Title 18, United States Code, Section 922(o). Sentencing is set for July 17, 2025.

According to documents filed in court, on January 5, 2022, the Coast Guard Cutter Tiger Shark intercepted a fishing vessel named the “Lucky Jean” approximately four nautical miles south of Southwest Pass within the Eastern District of Louisiana. During the safety search, Coast Guard personnel found multiple rifles capable of fully automatic fire. The captain of the vessel, TRAN, was subsequently interviewed by agents of the Bureau of Alcohol, Tobacco, Firearms, and Explosives. TRAN admitted to possessing seven weapons found on the vessel which he had converted into weapons capable of being fully automatic, in other words, a machine gun. The Bureau of Alcohol, Tobacco, Firearms, and Explosives subsequently tested the weapons, and found them to be fully automatic.

TRAN faces up to 10 years of imprisonment, a fine of up to $250,000, a period of up to 3 years of supervised release, and a mandatory special assessment fee of $100.00.

Acting U.S. Attorney Simpson praised the work of the Bureau of Alcohol, Tobacco, Firearms and the United States Coast Guard Investigative Service. The case is being prosecuted by Assistant United States Attorney Carter K.D. Guice, Jr. of the General Crimes Unit.

This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

MIL Security OSI –

April 2, 2025
MIL-OSI China: China unveils plan to boost financial support for tech innovation

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

BEIJING, April 1 — China on Tuesday unveiled a plan to strengthen financial services for technology-based enterprises, as part of the country’s efforts to promote integrated advancements in technological and industrial innovation.

The plan, jointly issued by the National Financial Regulatory Administration, the Ministry of Science and Technology and the National Development and Reform Commission, outlines measures to boost financial services including service mechanism establishment, product supply, specialized services and risk control capabilities.

The plan aims to promote the establishment of a financial service mechanism, supporting parties such as governments at all levels, technology firms, financial institutions, venture capital funds, and third-party intermediary service agencies in building a multi-level technology financial service ecosystem.

Efforts will be made to bolster services in technology credit and insurance, promote the pilot projects of technology finance policies, strengthen cooperation with institutions such as venture capital, and support the bond financing of technology-based enterprises.

Financial institutions are encouraged to leverage advanced technologies including cloud computing, big data and artificial intelligence to develop digital business tools to enhance operational effectiveness and risk control capabilities.

Financing guarantee services will be enhanced for technology-based enterprises, with the establishment of a differentiated assessment and evaluation system, according to the plan.

MIL OSI China News –

April 2, 2025
MIL-OSI Australia: Man arrested over indecent behaviour in Findon

Source: New South Wales – News

A man has been arrested after an investigation into reports of indecent behaviour in the western suburbs.

It will be alleged that just before 11am on Friday 14 March, a man entered a store on Grange Road at Findon and approached a female staff member, before he behaved in an indecent manner.

The woman was not injured.

After further investigations, a suspect was identified and arrested about 7.30pm on Tuesday 1 April in Findon.

The 43-year-old man of no fixed address was charged with indecent behaviour. He did not apply for bail and will appear in the Port Adelaide Magistrates Court today (Wednesday 2 April).

Investigations are continuing regarding the man’s involvement in other similar incidents in the area.

Anyone who may have witnessed such incidents is asked to call Crime Stoppers on 1800 333 000, or online at www.crimestopperssa.com.au

MIL OSI News –

April 2, 2025
MIL-OSI United Kingdom: Homes England and Octopus Real Estate launch £150m Greener Homes Alliance phase 2
Source: United Kingdom – Government Statements

Press release

Homes England and Octopus Real Estate launch £150m Greener Homes Alliance phase 2

The renewed alliance will reinforce a responsibility to support small and medium-sized (SME) housebuilders, while encouraging greener building practices.
Octopus Real Estate supported by Homes England

Homes England has joined with Octopus Real Estate, part of Octopus Investments and a leading specialist real estate investor and lender, to create the Greener Homes Alliance 2.

The alliance will commit £150 million of funding, £42 million of which will be provided by the Agency’s Home Building Fund. This will provide small and medium-sized (SME) housebuilders with further loan finance enabling even more high-quality, energy efficient homes to be built across England.

The first phase of the alliance launched in 2021, as part of broader efforts to expand the supply of finance available to SMEs, and funded over 550 much needed, new sustainable homes across the country. More than 40% of the homes built during phase one achieved an Energy Performance Certificate (EPC) rating of A, and 100% secured a Standard Assessment Procedure (SAP) score higher than 86, significantly higher than the UK average EPC rating of D and SAP score of 67.

Phase one of the Greener Homes Alliance made a significant impact, with 20 loans completed totalling £150million – an average loan size to SME developers of £7.5 million.

Phase two of the Greener Homes Alliance will seek to support the creation of more sustainable homes by introducing ten new criteria, four of which must be met for developers to benefit from a 1.25% discount on their interest rate. If six or more criteria are met, developers will be eligible for a 2% discount.

The new criteria for phase two will include the use of mixed methods of construction (MMC) in the fabric of buildings and a real living wage paid to workers on site. It will also encourage borrowers to support the Lighthouse Charity, a leader in mental health within the construction industry.

To qualify for funding from the alliance in the first place, all schemes must deliver specific key performance indicators as a minimum. Developers must ensure that all homes built are fossil fuel free and have an average SAP score of 85 or above.

Marcus Ralling, Chief Investment Officer at Homes England said:

Small and medium housebuilders play a vital and essential role in driving the delivery of much needed, new and sustainable homes.

This extended Alliance is an excellent example of how we are working with partners like Octopus Real Estate to support the SME housebuilders that are crucial to building a diverse and resilient housing sector.

Andy Scott, Co-Head of Debt, Octopus Real Estate, added:

We are extremely proud of the impact our Greener Homes Alliance initiative has had when it comes to supporting developers looking to make greener decisions for their projects, and we’ve spent a lot of time working out the new criteria with Homes England to make sure the next phase is as impactful as possible.

At Octopus, our mission is to reimagine real estate through the delivery of high-quality, sustainable places for people to live that are fit for the future and address societal needs such as fuel poverty. Working with esteemed government agencies to enact real change for the developers who have the expertise and capability to deliver such homes is a huge part of this.

ENDS

Notes to editors:

An Energy Performance Certificate (EPC) tells you how energy efficient a property is, giving a property an energy efficiency rating from A (best) to G (worst) that is valid for 10 years. An EPC contains information about a property’s energy use and typical energy costs and steps to improve a property’s energy efficiency.

The Standard Assessment Procedure (SAP) for the energy rating of dwellings) is the methodology currently used by the government to estimate the energy performance of homes. A SAP score provides a rating between 1 and 100, this range is then divided into categories A (best) to G (worst).

The new criteria introduced for phase two will include:

An average SAP score of 92+ (EPC A)

More than 90% of waste from the site avoids landfill

Biodiversity Net Gain of over 20%

More than 50% of new homes will be Zero Bills ready

Regeneration of a brownfield site

Potable water usage reduced to less than 110L per person per day

Use of Mixed Methods of Construction (MMC) in the fabric of the building

The Real Living Wage must be paid to all workers on site

The borrower to support Lighthouse Charity, a leader in mental health within the construction industry

More than 25% of units to be affordable built on-site, or in line with local social housing plans

All schemes must also deliver the following KPIs as a minimum:

All homes to be fossil fuel free

Every scheme to have average SAP score of 85+

About Homes England

We are the government’s housing and regeneration Agency, and we’re here to drive the creation of more affordable, quality homes and thriving places so that everyone has a place to live and grow.

We make this happen by working in partnership with thousands of organisations of all sizes, using our powers, expertise, land, capital and influence to bring investment to communities and get more quality homes built.

Learn more about us: https://www.gov.uk/government/organisations/homes-england/about

Press Office Contact Details

Email: media@homesengland.gov.uk

Phone: 0207 874 8262

About Octopus Real Estate

Octopus Real Estate, part of Octopus Investments, is a specialist real estate investor and lender delivering quality, sustainable places to live for every stage of life. Through our role as an investor, lender, and landlord, we fund the entire lifecycle of real estate ─ reimagining its future.

We have more than £3.7bn in real estate assets and secured lending, working with our partners to deliver greener homes for people to buy or rent, increase the supply of genuinely affordable housing, and build communities that meet the aspirations of elderly people. We also transform underused land and properties that require regeneration and redevelopment.

We believe that real, lasting change can only be achieved if businesses invest in the right way. We work with people who share our values and take our responsibilities to the communities we serve seriously. Together, we’re harnessing change to build a better tomorrow.

About Lighthouse

The Lighthouse Construction Industry Charity is the only charity that provides emotional, physical and financial wellbeing support to the construction community and their families.

Our mission is to ensure that our construction community can easily access the emotional, physical and financial wellbeing support they need and to develop healthy and sustainable futures for this generation and the next.

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Published 2 April 2025
MIL OSI United Kingdom –
April 2, 2025
MIL-OSI Security: Three arrested after 182-kilogram cocaine seizure

Source: Office of United States Attorneys

BROWNSVILLE, Texas – Three people have been charged after authorities seized a large amount of cocaine over the weekend destined for the Houston area and northern states, announced U.S. Attorney Nicolas J. Ganjei.

Pablo Luis Fuentes-Rivas, 40, Baytown, Efren Pinales-Hernandez, 51, Weslaco, and Daniel Teniente-Marfileno, 39, an illegal alien residing in Houston, made their appearances in Houston and will be transferred to Brownsville for further criminal proceedings.

The charges allege that on the early morning hours of March 29, law enforcement observed the three men at a truck lot in Baytown offloading a large amount of narcotics from a semi-tractor trailer onto a vehicle.

As Teniente-Marfileno drove off with the cocaine bundles, law enforcement conducted a traffic stop and seized the cocaine, according to the charges. Authorities then immediately arrested Fuentes-Rivas and Pinales-Hernandez as they attempted to leave the truck lot.

The seized narcotics had total weight of 182.25 kilograms and an estimated street value of nearly $2.3 million.

All are charged in a criminal complaint with possession with intent to distribute a controlled substance and conspiracy to do so. If convicted, each face up to life in prison as well as a possible $10 million fine.

The case is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts and dismantles drug trafficking organizations and other criminal networks that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state and local enforcement agencies. Additional information about the OCDETF Program can be found on the Department of Justice’s OCDETF webpage.

The Drug Enforcement Administration, Immigration and Customs Enforcement – Homeland Security Investigations conducted the investigation with the assistance of Texas Department of Public Safety, Houston Police Department, Cameron County Sheriff’s Office, and the Baytown Police Department. Assistant U.S. Attorney Oscar Ponce is prosecuting the case.

A criminal complaint is a formal accusation of criminal conduct, not evidence. A defendant is presumed innocent unless convicted through due process of law.

MIL Security OSI –

April 2, 2025
MIL-OSI USA: Ahead of Dr. Oz’s Confirmation, Senators Urge Crackdown on Private Medicare Insurers that Scam Patients, Price Gouge Taxpayers
US Senate News:
Source: United States Senator for Massachusetts – Elizabeth Warren

April 01, 2025

Senators call for ending contracts, limiting enrollment for Medicare Advantage insurers that defraud seniors and taxpayers

“The most effective step the Administration can take in cutting waste, fraud, and abuse in federal health care programs is by reining in the wasteful practices of corporate health insurers in the MA program.”

Text of Letter (PDF)

Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.) led a group of Senate Democrats in writing to Robert F. Kennedy Jr., Secretary of Health and Human Services, and Stephanie Carlton, Acting Administrator for the Centers for Medicare and Medicaid Services (CMS), urging them to crackdown on abuses by private insurers in Medicare Advantage (MA) that overcharge taxpayers, raise costs for patients, and create barriers to access care.

Senators Richard Blumenthal (D-Conn.), Cory Booker (D-N.J.), Richard Durbin (D-Ill.), Edward J. Markey (D-Mass.), Jeff Merkley (D-Ore.), Bernie Sanders (I-Vt.), and Tina Smith (D-Minn.) joined in signing the letter.

While the MA program was founded on the premise that private insurers could administer Medicare more cost-efficiently than the federal government, the program has failed to deliver savings in any year since its inception. In fact, in 2024 alone, private insurers in the program overcharged taxpayers by $83 billion relative to Traditional Medicare, while overpayments to private insurers in MA are expected to total $1.2 trillion dollars over the next decade.

Despite these massive taxpayer overpayments, private insurers in MA routinely slow down and deny medically necessary care for patients that otherwise would be approved under Traditional Medicare. MA patients are also more likely to be given inadequate care due to profit-padding insurance tactics, including early hospital discharges and shorter lengths of stay in care settings like nursing homes.

“At a time when Americans are paying nearly $26,000 per family in premiums per year, while the largest US insurer made $23 billion in annual profits, reining in profiteering could not be more important,” wrote the senators.

Ahead of CMS finalizing the 2026 Medicare Advantage Rate Notice (2026 Rate Notice), which sets payment rates for insurers in the program, the senators asked CMS to make four key reforms to the Medicare Advantage rules:
1. Eliminate waste and abuse from overpayments: CMS should finalize and adopt new rules for how risk adjustment is calculated, which will limit insurers’ misuse of diagnosis codes and save taxpayers $3.4 billion. Additionally, CMS should take the necessary enforcement actions, including restricting future enrollment in plans that engage in fraud and terminating MA plan contracts, to ensure MA organizations report and return overpayments in a timely manner.
2. Strengthen enforcement against MA insurers that illegally deny care: CMS should conduct strong oversight and enforcement when reviewing and approving MA benefits to ensure they adequately cover patients and do not subject enrollees to inappropriate and unnecessary barriers to care, like incorrect prior authorization determinations. About 50 million prior authorization requests were required by MA insurers in 2023, most commonly for higher cost, urgent services such as chemotherapy, inpatient hospital stays, and skilled nursing facility stays.
3. Address additional barriers to care: CMS should develop new regulations to crack down on MA insurer’s use of artificial intelligence programs, which have been used to incorrectly deny life-saving care and dangerously discharge patients early. The senators also pressed CMS to hold MA insurers accountable for using “ghost” networks to restrict care for seniors and people with disabilities.
4. Enact reforms to reduce disparities in care: The lawmakers urged lawmakers to take steps to improve disparities in care across race, ethnicity, and ability.
“These actions are crucial to improve health outcomes and ensure Medicare’s sustainability for future generations,” concluded the senators.

Senator Warren is a leading voice on reining in abuses in Medicare Advantage and protecting patients:
- In March 2025, at a hearing of the Senate Finance Committee, Senator Elizabeth Warren pressed Dr. Oz on taxpayer fraud committed by private, for-profit insurers in the Medicare Advantage program. Dr. Oz agreed with Senator Warren that cracking down on private health insurers in Medicare Advantage will “improve the health care of the American people.”
- In March 2025, Senator Elizabeth Warren wrote to Dr. Mehmet Oz, Trump’s nominee for Administrator of the Centers for Medicare & Medicaid Services (CMS), pressing him on his serious conflicts of interest. Dr. Oz has long been tied to Medicare Advantage insurers, which would benefit if he successfully privatizes Medicare, and which have paid him to encourage his show’s viewers to enroll in private Medicare plans.
- In January 2025, in a Fox News Digital op-ed, Senator Elizabeth Warren outlined her recommendations for cutting government waste to make government more efficient and save taxpayers money, including by rooting out corruption by Medicare Advantage insurers.
- In January 2025, Senator Elizabeth Warren sent Elon Musk, Chair of the Department of Government Efficiency (DOGE), a letter detailing over 30 proposals that would cut at least $2 trillion of wasteful government spending over the next decade, including by curbing abuse by Medicare Advantage insurers that overcharge taxpayers.
- In December, 2024, Senator Elizabeth Warren and Representative Lloyd Doggett (D-Texas) urged the Center for Medicare and Medicaid Services (CMS) to finalize rules to curb overpayments to private insurers in Medicare Advantage.
- In December 2024, Senators Elizabeth Warren led a group of Congressional Democrats in a letter to Dr. Mehmet Oz, President-elect Donald Trump’s pick to lead the Centers for Medicare & Medicaid Services, raising stark concerns about his advocacy to eliminate Traditional Medicare and his deep financial ties to the private health insurers that would benefit from that move.
- In June 2024, Senator Elizabeth Warren wrote to the Department of Justice, the Department of Health and Human Services, and the Federal Trade Commission, calling out high health care costs due to vertically-integrated insurers, private equity companies, and pharmaceutical companies that are driving health care consolidation. The letter came in response to the three agencies’ March 2024 cross-government inquiry into the impacts of corporate greed in health care, and highlights examples of abusive and anticompetitive behavior by companies in the health care industry.
- In May 2024, at a hearing of the U.S. Senate Committee on Finance, Senator Warren called out private insurers in Medicare Advantage for accelerating the rural hospital crisis.
- In March 2024, Senators Warren and Brown led their colleagues in a letter to HHS and CMS that urged the agencies to protect seniors by holding insurance companies accountable for abuses in Medicare Advantage.
- In January 2024, Senator Warren and Representative Pramila Jayapal (D-Wash.) sent a letter to CMS, urging the agency to take administrative action to curb billions in overpayments to MA insurers.
- In December 2023, Senators Warren, Catherine Cortez Masto (D-Nev.), Bill Cassidy (R-La.), and Marsha Blackburn (R-Tenn.) sent a letter to the CMS Administrator Chiquita Brooks-LaSure, raising concerns about shortfalls in CMS’s data collection and reporting practices for MA plans, and urging CMS to close data gaps to strengthen oversight of MA plans and improve care for Medicare beneficiaries.
- In November 2023, Senators Warren, Cortez Masto, Cassidy, and Blackburn introduced bipartisan legislation to improve transparency of MA plans and ensure these plans are best serving the health care needs of America’s seniors. The Encounter Data Enhancement Act would require Medicare Advantage plans to report important information about how much they are actually paying for patient services and how much patients are responsible for paying out-of-pocket.
- In November 2023, at a Senate Finance Committee markup of the Better Mental Health Care, Lower-Cost Drugs, and Extenders Act, Senator Warren highlighted the need to do more to prioritize hearing health for seniors and strengthen transparency in Medicare Advantage, and secured commitments from Senate Finance Committee leadership to prioritize these proposals in future packages.
- In October 2023, at a hearing of the Senate Finance Committee, Senator Warren called out giant MA insurers for using deceptive marketing tactics to lure seniors into the wrong plans and drown out competition from smaller insurers that may offer better coverage. Senator Warren called on CMS to act within the fullest extent of its authority to crack down on MA insurers that game the system to overcharge the government and to ensure insurers publish accurate data on patient care and out-of-pocket costs.
- In May 2023, at a hearing of the Senate Finance Committee, Senator Warren highlighted the prevalence of ghost networks in Medicare Advantage plans and called for stronger oversight of the program.
- In March 2023, Senator Warren sounded the alarm on a new analysis by policy experts showing that all Medicare beneficiaries – including those enrolled in Traditional Medicare – are paying higher premiums due to overpayments in MA. She sent a letter to CMS and called on the agency to finalize its proposed rule to ensure payments to MA plans accurately reflect the cost of care.
- In March 2023, U.S. Senators Warren and Jeff Merkley (D-Ore.) sent letters to the top seven MA insurers – Humana, Centene, UnitedHealthcare, CVS/Aetna, Molina, Elevance Health, and Cigna – regarding their questionable claims that CMS’s 2024 proposed Medicare Advantage payment rules would hurt beneficiaries.
- In March 2023, at a hearing of the Senate Finance Committee, Senator Warren defended CMS’s proposed adjustments to the Calendar Year 2024 MA payment rates, pushing back against giant insurance companies and their lobbyists who are peddling misinformation to protect their billions in profits and scare beneficiaries into opposing the rule.
- In April 2022, Senator Warren and Representatives Katie Porter (D-Calif.), Rosa DeLauro (D-Conn.), and Jan Schakowsky (D-Ill.) led their colleagues in sending a letter to CMS Administrator Chiquita Brooks-LaSure highlighting concerns about overpayments to Medicare Advantage plans that line the pockets of big insurance companies.
- In February 2022, chairing a hearing of the Senate Finance Subcommittee on Fiscal Responsibility and Economic Growth, Senator Warren delivered remarks about strengthening Medicare and cracking down on pharmaceutical and insurance companies’ corporate greed to pay for expanded coverage.
MIL OSI USA News –
April 2, 2025
MIL-OSI USA: Padilla, Democratic Senators to Bondi: Appoint Special Counsel to Investigate Signal Chat National Security Breach

US Senate News:

Source: United States Senator Alex Padilla (D-Calif.)

Padilla, Democratic Senators to Bondi: Appoint Special Counsel to Investigate Signal Chat National Security Breach

Senators to Attorney General: “These shockingly reckless breaches of security protocols for safeguarding sensitive and classified information clearly warrant an investigation into whether any of the government officials involved violated federal laws”

WASHINGTON, D.C. — U.S. Senator Alex Padilla (D-Calif.), a member of the Senate Judiciary Committee, joined 30 Senate Democrats in urging U.S. Attorney General Pam Bondi to appoint a Special Counsel to investigate whether government officials violated federal criminal laws in connection with a reported security breach involving the commercial messaging app Signal. On March 24, The Atlantic’s editor-in-chief reported that President Trump’s National Security Advisor Michael Waltz had inadvertently included him in a group Signal chat with several high-ranking national security officials. The group reportedly shared and discussed highly sensitive, classified, or controlled information via the unsecure Signal group chat.

“In addition to the reckless inclusion of a journalist in the chat, we are deeply concerned about this serious breach in the proper handling of such information and deliberations,” wrote the Senators. “Appointment of a Special Counsel is appropriate where the Department may have a conflict of interest or extraordinary circumstances are present, a criminal investigation is warranted, and it is in the public interest to appoint an outside Special Counsel to investigate the matter. Such circumstances are clearly present here.”

The Signal group chat, started by Mr. Waltz, included Vice President JD Vance, Secretary of Defense Pete Hegseth, Secretary of State Marco Rubio, Director of National Intelligence Tulsi Gabbard, Central Intelligence Agency Director John Ratcliffe, and at least 18 other government officials. The group reportedly discussed not only the foreign policy implications of military strikes against Houthi targets in Yemen, but also real-time operational details, including the timing of planned attacks, types of military aircraft and munitions to be used, and strike outcomes. An unprecedented security breach of this magnitude, involving some of the highest-ranking officials in the federal government, constitutes the type of extraordinary circumstance the Special Counsel regulations were designed to address.

“These officials conducted a highly sensitive discussion, including of clearly classified or controlled information, over the commercial messaging app Signal, including in some instances on personal devices and while traveling in foreign countries, rather than using the secure U.S. government channels and facilities that are designed and required for the sharing of such information. Despite subsequent claims to the contrary by you, President Trump, and several of the officials involved, including in testimony before Congress, some of the information they shared and discussed over Signal would almost certainly be considered classified or, at a minimum, controlled, prior to and in the immediate aftermath of an impending strike,” continued the Senators.

The Senators warned that the use of Signal for such communications may violate federal law. For example, grossly negligent handling national of national defense information can violate the Espionage Act. Additionally, the Federal Records Act requires preservation of certain government communications, and the destruction of such records may constitute a separate criminal offense. Statements made by the officials involved — in testimony before the House and Senate Intelligence Committees — raise further concerns about possible violations of laws prohibiting false statements, perjury, inducement to perjury, and conspiracy to commit these offenses.

“During your confirmation hearing before the Senate Judiciary Committee, you assured the American people that everyone will be held to ‘an equal, fair system of justice’ if you were confirmed as Attorney General, and that ‘no one is above the law.’ As the individuals most seriously implicated in this incident include senior officials at the highest levels, including several of your fellow cabinet members, appointment of a Special Counsel is necessary to ensure that the investigation and any ensuing prosecutions are fair, impartial, and independent and that no official, regardless of seniority or political affiliation, is above the law. The people of this country deserve the assurance that this matter will be taken seriously and addressed swiftly. To do so, we urge you to appoint a Special Counsel immediately,” concluded the Senators.

The letter was led by U.S. Senate Democratic Whip Dick Durbin (D-Ill.), Ranking Member of the Senate Judiciary Committee, along with Senate Democratic Leader Chuck Schumer (D-N.Y.). In addition to Senator Padilla, Senators Tammy Baldwin (D-Wis.), Richard Blumenthal (D-Conn.), Lisa Blunt Rochester (D-Del.), Cory Booker (D-N.J.), Chris Coons (D-Del.), Tammy Duckworth (D-Ill.), John Fetterman (D-Pa.), Ruben Gallego (D-Ariz.), Kirsten Gillibrand (D-N.Y.), Mazie Hirono (D-Hawaii), Tim Kaine (D-Va.), Andy Kim (D-N.J.), Amy Klobuchar (D-Minn.), Ben Ray Luján (D-N.M.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Patty Murray (D-Wash.), Gary Peters (D-Mich.), Jack Reed (D-R.I.), Jacky Rosen (D-Nev.), Adam Schiff (D-Calif.), Elissa Slotkin (D-Mich.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Raphael Warnock (D-Ga.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), and Sheldon Whitehouse (D-R.I.) also signed the letter.

Senator Padilla has been outspoken about the Trump Administration’s dangerous mishandling of sensitive and classified information. Last week, he called on Secretary of Defense Pete Hegseth to resign, citing his staggering incompetence and lack of judgment, carelessly exposing troops to greater danger.

Full text of the letter is available here and below:

Dear Attorney General Bondi:

On March 24, The Atlantic’s editor in chief reported that President Trump’s National Security Advisor Michael Waltz had included him in a group message chain with several high-ranking national security officials where highly sensitive, classified, or controlled information was shared and discussed over Signal—an unsecure commercial messaging app. In addition to the reckless inclusion of a journalist in the chat, we are deeply concerned about this serious breach in the proper handling of such information and deliberations. Given the extraordinary circumstances of this shocking incident and the significant public interests at stake, it is imperative that you immediately appoint a Special Counsel to thoroughly and impartially investigate whether any of the government officials involved violated federal criminal law.

Appointment of a Special Counsel is appropriate where the Department may have a conflict of interest or extraordinary circumstances are present, a criminal investigation is warranted, and it is in the public interest to appoint an outside Special Counsel to investigate the matter. Such circumstances are clearly present here.

The Signal chat group started by Mr. Waltz included Vice President JD Vance, Secretary of Defense Pete Hegseth, Secretary of State Marco Rubio, Director of National Intelligence Tulsi Gabbard, and Central Intelligence Agency Director John Ratcliffe, among at least 18 other high-ranking government officials. In addition to discussing the sensitive foreign policy implications of military strikes against Houthi targets in Yemen, these officials proceeded to discuss key operational information regarding the precise timing of the planned attacks, the types of military aircraft and munitions to be used, and the targets and results of the strikes as they occurred. An unprecedented security breach of this magnitude involving top senior government officials presents the kind of extraordinary circumstances clearly contemplated by the Special Counsel regulations.

These officials conducted a highly sensitive discussion, including of clearly classified or controlled information, over the commercial messaging app Signal, including in some instances on personal devices and while traveling in foreign countries, rather than using the secure U.S. government channels and facilities that are designed and required for the sharing of such information. Despite subsequent claims to the contrary by you, President Trump, and several of the officials involved, including in testimony before Congress, some of the information they shared and discussed over Signal would almost certainly be considered classified or, at a minimum, controlled, prior to and in the immediate aftermath of an impending strike.

These shockingly reckless breaches of security protocols for safeguarding sensitive and classified information clearly warrant an investigation into whether any of the government officials involved violated federal laws pertaining to the proper safeguarding and preservation of such information. For example, gross negligence in handling national defense information may violate the Espionage Act. Importantly, other laws, including the Federal Records Act, require the preservation of certain government records. Signal allows users to schedule messages for deletion after certain time periods and Mr. Waltz appears to have set the chat messages to delete initially after one week and then later in the chat changed the setting to delete messages after four weeks. Destruction of government records or property may constitute a violation of various criminal statutes. Subsequent statements to Congress and testimony before the House and Senate Intelligence Committees by several of the officials involved raise additional concerns about potential violations of federal criminal laws that prohibit making false statements to Congress, committing perjury in testimony to Congress, inducing another person to commit perjury, or conspiring to commit any of the foregoing actions.

Even prior to his first Administration, President Trump campaigned for the need to prosecute and “lock up” individuals who allegedly “bypass government security” or “sent and received classified information on an insecure server.” Further, as an avowedly loyal and zealous advocate for the President, you echoed these same sentiments prior to your confirmation. Given the extraordinary nature of this security breach by senior Trump Administration officials, the likelihood that these actions needlessly endangered American lives and our nation’s security, the importance of putting our nation’s security before partisan political interests, and the range of federal criminal laws that may have been violated, it is imperative that the Department of Justice conduct a thorough investigation to assess the extent of the damage and determine whether any criminal charges are warranted against any of the government officials involved.

During your confirmation hearing before the Senate Judiciary Committee, you assured the American people that everyone will be held to “an equal, fair system of justice” if you were confirmed as Attorney General, and that “no one is above the law.” As the individuals most seriously implicated in this incident include senior officials at the highest levels, including several of your fellow cabinet members, appointment of a Special Counsel is necessary to ensure that the investigation and any ensuing prosecutions are fair, impartial, and independent and that no official, regardless of seniority or political affiliation, is above the law. The people of this country deserve the assurance that this matter will be taken seriously and addressed swiftly. To do so, we urge you to appoint a Special Counsel immediately.

MIL OSI USA News –

April 2, 2025
MIL-OSI Australia: Training the next crop of fire investigators
Source:

Bushfire instructor Brett Wagstaff

On the eve of the 2024-25 bushfire season, CFA and Forest
Fire Management Victoria (FFMVic) hosted their annual
multi-agency bushfire investigation course in Castlemaine.

Participants from CFA, FFMVic, Fire Rescue Victoria (FRV), Parks Victoria, Victoria Police and Forensic Services learned how to investigate the origin and cause of bushfires.

The ﬁve-day course is designed for new ﬁre investigators and is a mixture of classroom theory and practical training. Heading up the team of bushﬁre investigation trainers was Brett Wagstaff, a bushﬁre instructor based in Kangaroo Flat in District 2.

“We undertake classroom training. We also back that up by spending time out in the bush, lighting ﬁres, observing burn and char patterns and then investigating those ﬁres,” Brett said.

“This year, we chose to have ﬁres in both forest and grass to cater for both FFMVic and CFA, and to ensure that we cover all fuel types.”

Fire investigation plays a crucial role in ﬁre prevention, and ensuring the presence of a statewide network of skilled ﬁre investigators is an important part of CFA’s function. Accordingly, CFA has committed signiﬁcant resources, time and effort into the ﬁre investigation training pathway.

One of the course participants, Wayne Munro, is a CFA member with close to 40 years of ﬁreﬁghting experience under his belt. He’s a member of Grassdale Fire Brigade in South West Region and also the group officer for Merino.

“I’ve been on the other end, ﬁghting ﬁres and then in command-and-control structures, and this course is part of my continual learning that CFA offers,” Wayne said. “I want to investigate ﬁres to try to ﬁnd the causes so that we can stop some of the ﬁres in our area. But I also wanted to hand back some of my knowledge and experience to CFA.”

Some of the techniques used to detect the path of a ﬁre include staining on rocks, char patterns on trees and orientation of leaves after a ﬁre has passed through. For Wayne, one of the biggest takeaways from the course was changing the way he now looks at ﬁres.

“I’ve learned to look at ﬁres in reverse and to look at minute things. Traditionally, we’ve always been taught to bring in the bulldozers, add the water, put the ﬁre out and then go home. And now we’re learning to make sure the scene is protected, to get down on our hands and knees and look at the way the grass is burned, how the leaves are burned and watching the trees. It has totally opened my eyes up to a whole new way of looking at ﬁres,” Wayne explained.

Baxter Fire Brigade’s Kate Sanderson has been a member of CFA for seven years. Although her time at CFA has been relatively short, ﬁre investigation has been one of her long-held ambitions.

“It’s something I wanted to do for a long, long time and I researched the pathways to get into ﬁre investigation,” Kate said. “I came across CFA and discovered that if I had at least ﬁve years’ volunteer experience, I would be considered for training [in ﬁre investigation]. So that’s the reason I joined CFA, and I have loved the experience and have learned so much along the way.”

For the practical elements of the course, the participants were divided into small groups to observe active ﬁres in grassland and forest, before returning the following day to investigate these ﬁres. On the ﬁnal day of the course, they were tasked with investigating another group’s ﬁre scene. The opportunity to observe live ﬁre in real settings is a key feature of the course.

“It was a great course. To be able to observe a ﬁre in the bush and watch its behaviour was so invaluable,” Kate said. “It is known that terrain and weather affect ﬁre behaviour, but it was so useful to stand back and watch how it burns, rather than from a ﬁreﬁghter’s perspective of putting out a ﬁre as soon as possible.”

Pentland Group Officer and Myrniong Fire Brigade Fireﬁghter Dale Salathiel’s pathway to ﬁre investigation was informed through his role with Victoria Police where he has been exposed to arson investigations, and the challenges of trying to determine ﬁre cause.

“I’ve just had an interest in this space, with investigations that I do through my job at Victoria Police – things that I’ve seen with arson and the investigative tools that come with that,” Dale said.

The ﬁve-day course is only the ﬁrst step in the process to becoming a bushﬁre investigator. After the course, each participant is paired with a mentor and tasked with attending and investigating ﬁve scenes over the following 18 months.

At the time of writing, Dale had already attended four scenes, with his ﬁrst coming the weekend after the course ﬁnished.

“I ﬁnished the course on the Friday and by the weekend I was straight into it. I ended up going to the large ﬁre at Kadnook, the Casterton-Edenhope Road ﬁre, which was a two-day deployment,” Dale said

Visiting scenes and investigating ﬁre origin and path is just one piece of the ﬁre investigation puzzle. Investigators must spend a signiﬁcant amount of time preparing written reports after the scene examination is completed. This element was also covered in the course.

“It’s one thing to travel to the scene and go back home. But it’s the report writing. It’s collating the weather, the lightning data, the witness statements, the maps, and writing up the report so someone who wasn’t at the ﬁre can understand what occurred,” Kate explained.

As well as the opportunity to learn from experienced trainers and mentors, Kate has found the support from her fellow CFA members on the course to be invaluable.

“The six of us are staying in touch and telling each other when we’ve been out to scenes, so that’s been really helpful. Our stories and backgrounds are so different; it’s just so exciting to be amongst them,” Kate said.

Dale added: “I think that the group motivates each other by working off one another, staying in touch and communicating. I think it’s helped us all work together and help bring each other through.”

For anyone thinking about undertaking the bushﬁre investigation pathway, Wayne Munro had these words of wisdom.

“If you’re joining this course just to get a tick on a piece of paper, I’d suggest not doing it. You have to do a lot of training to become accredited. But if you’re interested in ﬁne detail and want to help the community I’d say go for it every day. CFA is great at training ﬁre investigators.

“If you wish to follow your dream or passion, CFA gives you plenty of opportunities to do it – and I think it’s fantastic.”
- Wayne Munro (right)
Submitted by News and Media

MIL OSI News –
April 2, 2025
MIL-OSI USA: ALLEGHENY COUNTY – Lt. Governor Austin Davis, Ag Secretary Russell Redding to Discuss Impact of Federal Funding Cuts, Proposed State Investments on Pittsburgh Area Farms, Families, Food Banks

Source: US State of Pennsylvania

April 02, 2025 – Duquesne, PA

ADVISORY – ALLEGHENY COUNTY – Lt. Governor Austin Davis, Ag Secretary Russell Redding to Discuss Impact of Federal Funding Cuts, Proposed State Investments on Pittsburgh Area Farms, Families, Food Banks

Lt. Governor Austin Davis and Agriculture Secretary Russell Redding will lead a roundtable at Greater Pittsburgh Community Food Bank on the impact of USDA funding cuts and proposed Shapiro Administration investments on food security, farmers, and families in the Pittsburgh region.

Last week, Governor Josh Shapiro called on Sec. Redding to appeal USDA’s abrupt cancellation of $13 million in Local Food Purchasing Program funds that would benefit 189 Pennsylvania farms over the next three years.
Following the discussion with food bank leadership, farmers, and others harmed by USDA’s decision, media are invited to a press conference recapping the potential impact of cancelled federal contracts. The positive impact of Governor Shapiro’s $8 million in proposed funding increases and additional initiatives to tackle root causes of food insecurity will be highlighted as well.

WHO:
Lt. Governor Austin Davis
Agriculture Secretary Russell Redding
Department of Human Services Deputy Secretary Hoa Pham
State Representative Emily Kinkead
Greater Pittsburgh Food Bank President and CEO Lisa Scales
Harvest Valley Farms Co-owner Art King

WHEN:
Wednesday, April 2 at 2 p.m.

WHERE:
Greater Pittsburgh Regional Food Bank: 1 N. Linden Street, Duquesne, PA 15110

RSVP:
Press attending should RSVP to Shannon Powers, shpowers@pa.gov.

MIL OSI USA News –

April 2, 2025
MIL-OSI Security: Seven Sentenced for Fentanyl Drug Trafficking Operation
Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

MARTINSBURG, WEST VIRGINIA – Seven people have been sentenced for their roles in a drug trafficking organization that spanned from Baltimore to the Eastern Panhandle of West Virginia.

The indictment, returned in January 2024 against Gary Brown, Jr., and eighty-one others, charged the defendants with distributing substantial amounts of fentanyl, methamphetamine, and cocaine in Berkeley and Jefferson Counties.

Those sentenced this week include:
- James Beau Baker, age 29, of Charles Town, West Virginia, sentenced to 97 months;
- Amanda Nicole Albert, 32, of Knoxville, Maryland, sentenced to 46 months in prison;
- Kendall Axavier Baker, age 32, of Winchester, Virginia, sentenced to time served;
- Kaitlyn Ashley Knight, age 32, of Falling Waters, West Virginia, sentenced to three years’ probation;
- Ryan Brennan, age 33, of Strasburg, Virginia, sentenced to five years’ probation;
- April Dawn Wentzell, age 37, of Ranson, West Virginia, sentenced to time served;
- Aaron Joshua James, age 31, of Harpers Ferry, West Virginia, sentenced to 70 months in prison;
Of the 82 defendants, 80 have been convicted. Including today’s seven, 44 defendants have been sentenced. One defendant, Charles Delroy Singletary, age 44, of Baltimore, Maryland, remains a fugitive.

Assistant U.S. Attorneys Lara Omps-Botteicher and Kyle Kane prosecuted the cases on behalf of the government.

U.S. District Judge Gina M. Groh presided.

Investigative agencies include the Federal Bureau of Investigation (Pittsburgh Field Division and Baltimore Field Division); the Drug Enforcement Administration; the U.S. Department of Homeland Security Investigations; the United States Postal Inspection Service; the Bureau of Alcohol, Tobacco, Firearms, and Explosives; the United States Marshals Service; the Eastern Panhandle Drug Task Force, a HIDTA-funded initiative; the West Virginia State Police; the West Virginia Air National Guard; the Jefferson County Sheriff’s Office; the Berkeley County Sheriff’s Office; Ranson Police Department; Martinsburg Police Department; Charles Town Police Department; the Berkeley County Prosecuting Attorney’s Office; Stafford County Sheriff’s Office (Virginia); Frederick County Sheriff’s Office (Maryland); Frederick County Sheriff’s Office (Virginia); Winchester Police Department; and the Clarke County Sheriff’s Office (Virginia).

This effort is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

MIL Security OSI –
April 2, 2025

Submitted by	News and Media

MIL-OSI: Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces Its Net Asset Value and Asset Coverage Ratios as of March 31, 2025

Source: GlobeNewswire (MIL-OSI)

HOUSTON, April 01, 2025 (GLOBE NEWSWIRE) — Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) today provided a summary unaudited statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the “1940 Act”) as of March 31, 2025.

As of March 31, 2025, the Company’s net assets were $2.5 billion, and its net asset value per share was $14.64. As of March 31, 2025, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 639% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 486%.

STATEMENT OF ASSETS AND LIABILITIES MARCH 31, 2025 // (UNAUDITED)
	(in millions)
Investments	$	3,447.3
Cash and cash equivalents		17.2
Accrued income		2.5
Other assets		1.1
Total assets		3,468.1

Credit facility		78.0
Notes		409.7
Unamortized notes issuance costs		(2.6	)
Preferred stock		153.6
Unamortized preferred stock issuance costs		(1.2	)
Total leverage		637.5

Other liabilities		8.6
Current tax liability, net		1.8
Deferred tax liability, net		344.3
Total liabilities		354.7

Net assets	$	2,475.9

The Company had 169,126,038 common shares outstanding as of March 31, 2025.

Long-term investments were comprised of Midstream Energy Companies (95%), Utility Companies (2%) and Other (3%).

The Company’s ten largest holdings by issuer at March 31, 2025 were:

			Amount (in millions)	% Long Term Investments
1.	The Williams Companies, Inc. (Midstream Energy Company)	$361.5		10.5	%
2.	Enterprise Products Partners L.P. (Midstream Energy Company)		353.6	10.3	%
3.	Energy Transfer LP (Midstream Energy Company)		345.7	10.0	%
4.	MPLX LP (Midstream Energy Company)		329.7	9.6	%
5.	Cheniere Energy, Inc. (Midstream Energy Company)		265.2	7.7	%
6.	Kinder Morgan, Inc. (Midstream Energy Company)		223.1	6.5	%
7.	Targa Resources Corp. (Midstream Energy Company)		203.0	5.9	%
8.	ONEOK, Inc. (Midstream Energy Company)		201.6	5.8	%
9.	TC Energy Corporation (Midstream Energy Company)		159.1	4.6	%
10.	Western Midstream Partners, LP (Midstream Energy Company)		150.5	4.4	%

Portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. You can obtain a complete listing of holdings by viewing the Company’s most recent quarterly or annual report.

Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The Company’s investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company’s most recent quarterly report for a description of these investment categories and the meaning of capitalized terms.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or consider any investor’s specific objectives or circumstances. Before investing, please consult with your investment, tax, or legal adviser regarding your individual circumstances.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include but are not limited to changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Company’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company’s investment objectives will be attained.

Contact investor relations at 877-657-3863 or cef@kayneanderson.com.

The MIL Network –

April 2, 2025

MIL-OSI: NowVertical Reports Record 2024 Financial Results
Source: GlobeNewswire (MIL-OSI)

Company Hosting Investor Webinar on April 2, 2025, at 10:00 AM EST
- Q4 2024 revenue was $10.9 million, up 94% Y/Y excluding recent divestitures
- On a reported basis, Q4 2024 revenue increased 8% Y/Y
- Q4 2024 Net Income was $0.6 million, up 115% Y/Y excluding recent divestitures
- On a reported basis, Q4 2024 Net Income increased by 116% Y/Y
- Q4 2024 Adjusted EBITDA was $2.6 million, up 225% Y/Y
- 2024 FY Cash flows from operations were $2.8 million
TORONTO, April 01, 2025 (GLOBE NEWSWIRE) — NowVertical Group Inc. (TSX-V: NOW) (“NOW” or the “Company”), a leader in AI-driven data solutions, announces audited financial results for its fourth fiscal quarter ended December 31, 2024. Unless otherwise specified, all dollar amounts are expressed in U.S. dollars. Management will host an investor webinar at 10:00 AM EST (7:00 AM PST) on Wednesday April 2, 2025, to discuss the Company’s financial and business results.

Selected Financial Highlights for the Three Months Ended December 31, 2024:
- Revenue was $10.9 million in the three months ended December 31, 2024 (“Q4 2024”), an 8% increase from $10.1 million for the three months ending December 31, 2023 (“Q4 2023”). Excluding the disposition of Allegient Defense, Inc. (“Allegient”) on May 24, 2024, and Seafront Analytics, LLC (“Seafront”) on December 31, 2023, Q4 2023 revenue was $5.6 million, translating to a year-over-year growth of 94%.
- Gross Profit was $5.7 million in Q4 2024, consistent with $5.7 million in Q4 2023. Excluding the Allegient and Seafront businesses, Q4 2023 gross profit was $4.1 million, translating to a year-over year increase of 37%.
- Administrative Expenses were $3.0 million in Q4 2024, a 52% decrease from $6.1 million in Q4 2023. Excluding the Allegient and Seafront businesses, Q4 2023 administrative expenses were $5.0 million, translating to a year-over-year decrease of 40%.
- Adjusted EBITDA was $2.6 million in Q4 2024, a 225% increase from $0.8 million in Q4 2023. Excluding the Allegient and Seafront businesses, Adjusted EBITDA was $0.5 million in Q4 2023, translating to a year-over-year increase of 420%.
- Net Income was $0.6 million in Q4 2024, an 116% increase from a $3.6 million net loss in Q4 2023. Excluding the Allegient and Seafront businesses, Q4 2023 had a Net Loss of $3.9 million, translating to a year-over-year net income growth of $4.5 million. Net income per basic and diluted share of $0.01 in Q4 2024, compared to a net loss per share of $0.05 in Q4 2023.
Select results for the year ended December 31, 2024:
- Revenue was $46.9 million in the year ended December 31, 2024, (“FY 2024”), a 9% decrease from $51.7 million in the year ended December 31, 2023 (“FY 2023”). Excluding the dispositions of Allegient, Seafront and the Affinio Social (“Affinio Social”) business which was divested on May 10, 2023, revenue was $39.4 million in FY 2024 and $32.5 million in FY 2023, translating to a year-over-year growth of 21%.
- Gross Profit was $23.1 million in FY 2024, a 10% decrease from $25.7 million in FY 2023. Excluding the Allegient, Seafront and Affinio Social businesses, gross profit was $20.5 million in FY 2024 and $18.9 million in FY 2023, translating to a year-over year increase of 9%.
- Administrative Expenses were $18.1 million in FY 2024, a 30% decrease from $25.8 million in FY 2023. Excluding the Allegient, Seafront and Affinio Social businesses, administrative expenses were $16.2 million in FY 2024 and $20.2 million in FY 2023, translating to a year-over-year decrease of 20%.
- Adjusted EBITDA was $7.8 million in FY 2024, a 46% increase from $5.4 million in FY 2023. Excluding the Allegient, Seafront and Affinio Social businesses, Adjusted EBITDA was $7.2 million in FY 2024 and $4.0 million in FY 2023, translating to a year-over-year increase of 77%.
- Net Income was $1.6 million in FY 2024, an 116% increase from a $5.9 million Net Loss in FY 2023. Excluding the Allegient, Seafront and Affinio Social businesses, Net Income was $1.0 million in FY 20024 and a $4.9 million Net Loss in FY 2023, translating to a year-over-year increase of 115%. Net income per basic and diluted share of $0.02 in FY 2024, compared to a net loss per share of $0.08 in FY 2023.
- Cash flows from operations were $2.8 million in FY 2024, an $8.2 million increase from cash flows used in operations of $5.4 million in FY 2023.
“NOW has delivered its strongest quarter to date, demonstrating the power of our focused strategy and disciplined execution. Q4 2024 Adjusted EBITDA of $2.6 million, up from $2.0 million in Q3 2024, indicates our integration strategy and efficiency-focused measures are yielding results. Outstanding credit goes to our operator-first leadership team, who have executed this at a faster pace than anticipated,” said Sandeep Mendiratta, CEO of NOW. “We have renegotiated acquisition liabilities, leading to meaningful cash savings and a more favorable payment schedule, reducing total acquisition-related liabilities by an estimated $5.4 million. Most importantly, this business has been completely turned around—we are now profitable, generating credible EBITDA, and have demonstrated robust organic growth despite a year of transformation. With a strong, ambitious, and deeply invested management team in place, we are confident in steering NOW toward meaningful and sustained growth in the coming quarters and years. Our fourth quarter has demonstrably put us on the path to achieving our objective of $10 million in annual EBITDA on $50 million in revenue, with a best-in-class 20% EBITDA margin. We believe we now have a platform for sustained organic revenue growth, with strong margins across our core markets. We look forward to discussing these points and more on our third-quarter investor call.”

Q4 2024 and Subsequent Business Highlights:
- March 03, 2025: The Company announced its participation in the exclusive, invite-only ROTH Conference, which convenes leading institutional investors and high-growth companies across a range of sectors
- February 20, 2025: Converted CAD$3.025 million in historical obligations from debt to equity through the issuance of 9,168,418 Class A subordinate voting shares.
- February 3, 2025: The sellers of Affinio Inc. agreed to defer the payment of $998,000 in outstanding liabilities previously due in the first half of 2025. The amount will now be payable in late Q4 2025.
- January 16, 2025: Achieves prestigious Google Premier Partner Status in LATAM, solidifying Its leadership in Data and AI Solutions.
- January 14, 2025: Executive management team have acquired approximately 1.06 million Class A subordinate voting shares in the open market. Following these purchases, management’s pro forma ownership is expected to increase to approximately 27%.
- January 13, 2025: The Chief Executive Officer and Director of the Company opted to receive his annual bonus in the form of restricted share units in the Company.
- January 02, 2025: The Company announced that it has entered into a debt settlement agreement with the former owners of Acrotrend Solutions Ltd., including NOW’s CEO, Sandeep Mendiratta, who agreed to settle $815,000 of the $1,055,000 owed to them as of December 31, 2024, through the issuance of Class A subordinate voting shares of the Company.
- December 23, 2024: The Company announced that is has entered into a debt settlement with the former owners of CoreBI S.A. and CoreBI S.A.S., who agreed to settle an aggregate entitlement of $1,250,000 owed to them through the issuance of 5,432,954 Class A subordinate voting shares of the Company.
- December 17, 2024: Announced the launch of its AI Financial Agent as part of the latest update to NowHub-Finance, an end-to-end analytics platform for finance teams. This AI-driven upgrade enhances NOW’s commitment to rapidly transforming data into business value.
- November 26, 2024: Announced the formation of a Strategic Partnership with Microsoft and the launch of a Global Center of Excellence, aimed at fostering innovation and accelerating growth.
- October 29, 2024: Introduced a Data Risk Mitigation solution and unique risk guarantee, empowering enterprises to uncover, mitigate, and control hidden data risks across complex data environments.
- October 8, 2024: Unveiled an evolved Partner Marketing Solution tailored to help clients navigate the growing complexities of managing partner ecosystems.
Q4 2024 Financial Results Investor Webinar:

The Company invites shareholders, analysts, investors, media representatives, and other stakeholders to attend our upcoming webinar. Management will discuss Q4 2024 results, followed by a question-and-answer session.

Investor Webinar Registration:

Time: Wednesday, April 2, 2025, 10:00 AM in Eastern Time (US and Canada)

RegistrationLink:
https://us02web.zoom.us/webinar/register/WN_cEmYLTHBTLqtoK_qDtxqsw

A recording of the webinar and supporting materials will be made available in the investor’s section of the Company’s website at https://www.nowvertical.com/news-and-media.

Additional Information:

The Company’s audited annual 2024 consolidated financial statements, notes to financial statements, and management’s discussion and analysis for the three and twelve months ended December 31, 2024, are available on the Company’s SEDAR+ profile at www.sedarplus.com. Unless otherwise indicated, all references to “$” in this press release refer to US dollars, and all references to “CAD$” in this press release refer to Canadian dollars.

About NowVertical Group Inc.

The Company is a data analytics and AI solutions company offering comprehensive solutions, software and services. As a global provider, we deliver cutting-edge data, technology, and artificial intelligence (AI) applications to private and public enterprises. Our solutions form the bedrock of modern enterprises, converting data investments into business solutions. NOW is growing organically and through strategic acquisitions. For further details about NOW, please visit www.nowvertical.com.

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

For further information, please contact:

Andre Garber, CDO
 IR@nowvertical.com
+1(647)947-0223

Cautionary Note Regarding Non-IFRS Measures:

This news release refers to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. The Company’s definitions of non-IFRS measures used in this news release may not be the same as the definitions for such measures used by other companies in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The Company uses non IFRS financial measures including “EBITDA”, and “Adjusted EBITDA”. These non-IFRS measures are used to provide investors with supplemental measures of our operating performance and to eliminate items that have less bearing on our operational performance or operating conditions and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. The Company’s management also uses non-IFRS financial measures to facilitate operating performance comparisons from period to period and prepare annual budgets and forecasts.

Non-IFRS Measures:

The non-IFRS financial measures referred to in this news release are defined below. The management discussion and analysis for the year ended December 31, 2024, available at nowvertical.com and on SEDAR+ at www.sedarplus.com contains supporting calculations for Adjusted Revenue, EBITDA % and Adjusted EBITDA

“Adjusted EBITDA” adjusts net income (loss) before depreciation and amortization expenses, net interest costs, and provision for income taxes for revenue adjustments in “Adjusted Revenue” and items such as acquisition accounting adjustments, transaction expenses related to acquisitions, transactional gains or losses on assets, asset impairment charges, non-recurring expense items, non-cash stock compensation costs, and the full year impact of cost synergies related to restructuring activities, such as a reduction of employees.

“EBITDA %” is defined as Adjusted EBITDA as a percentage of Adjusted Revenue.

“Adjusted Revenue” adjusts revenue to eliminate the effects of acquisition accounting on the Company’s revenues, which predominantly pertain to fair market value adjustments to the opening deferred revenue balances of acquired companies.

Cautionary note regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (within the meaning of applicable securities laws) which reflect the Company’s current expectations regarding future events. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding beliefs, plans, expectations, future, strategy, objectives, goals and targets. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements are not guarantees of future performance and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

All of the forward-looking statement contained in this press release are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward -looking statements contained herein are provided as of the date hereof, and the Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.

The MIL Network –
April 2, 2025
MIL-OSI USA: US files civil forfeiture complaint for $47 million in proceeds from Iranian oil sale following ICE investigation

Source: US Immigration and Customs Enforcement

WASHINGTON – An investigation by U.S. Immigration and Customs Enforcement has resulted in a civil forfeiture complaint alleging that $47 million in proceeds from the sale of nearly one million barrels of Iranian petroleum is forfeitable as property of, or affording a person a source of influence over, the Islamic Revolutionary Guard Corps or its Qods Force, designated Foreign Terrorist Organizations.

The forfeiture was announced by ICE Homeland Security Investigations New York acting Special Agent in Charge Michael Alfonso; Sue J. Bai, head of the Justice Department’s National Security Division; U.S. Attorney Edward R. Martin, Jr., for the District of Columbia; and FBI Special Agent in Charge Alvin M. Winston, Sr. of the Minneapolis Field Office.

“Through the work of HSI’s Counterproliferation Investigations group, alongside the FBI, the U.S. government has seized $47 million worth of funds allegedly meant for terrorist groups intent on causing catastrophic harm,” said ICE HSI New York acting Special Agent in Charge Alfonso. “The expertise of HSI personnel, coupled with federal law enforcement’s whole-of-government approach, ensures the wellbeing of the United States and our innocent foreign counterparts, alike. We are relentlessly utilizing every tool at our disposal in pursuit of any and all security threats.”

The forfeiture complaint alleges a scheme between 2022 and 2024 to facilitate the shipment, storage, and sale of Iranian petroleum product for the benefit of the IRGC and IRGC-QF. The facilitators used deceptive practices to masquerade the Iranian oil as Malaysian, including by manipulating the tanker’s automatic identification system to conceal that it onboarded the oil from a port in Iran. The facilitators presented falsified documents to the Croatian storage facility and port authority, claiming that the oil was Malaysian. The facilitators paid for storage fees associated with the oil’s storage at the Croatian facility in U.S. dollars, transactions that were conducted through U.S. financial institutions that would have refused the transactions had they known they were associated with Iranian oil. The petroleum product was sold in 2024, and the United States seized $47 million in proceeds from that sale.

The civil forfeiture complaint further alleges that the petroleum product constitutes the property of the National Iranian Oil Company, which has perpetuated a federal crime of terrorism by providing material support to the IRGC and IRGC-QF. As alleged, profits from petroleum product sales support the IRGC’s full range of malign activities, including the proliferation of weapons of mass destruction and their means of delivery, support for terrorism, and both domestic and international human rights abuses.

“We will aggressively enforce U.S. sanctions against Iran, in furtherance of President Trump’s maximum pressure campaign,” said U.S. Attorney Martin. “With the continued seizures of Iranian oil and U.S. dollar profits, we are sending a clear message to Iran that bypassing the sanctions put in place by the U.S. Government is not as easy as playing a shell game with tankers filled with oil. We remain committed to thwarting Iran’s devious attempts, and to deprive its terrorists of the funding they desire.”

“The FBI will not allow hostile regimes to evade U.S. sanctions or exploit our financial systems to fund designated terrorist organizations,” said FBI Special Agent in Charge Winston. “The FBI, alongside our partners, will relentlessly enforce U.S. sanctions against Iran and safeguard U.S. national security by disrupting illicit networks that seek to profit from sanctioned oil sales.”

Funds successfully forfeited with a connection to a state sponsor of terrorism may in whole or in part be directed to the U.S. Victims of State Sponsored Terrorism Fund.

ICE HSI New York and FBI Minneapolis Field Office are investigating the case.

MIL OSI USA News –

April 2, 2025
MIL-OSI Security: Sioux City Man Sentenced to More Than 12 Years in Federal Prison for Meth Convictions

Source: Office of United States Attorneys

A man who conspired to distribute methamphetamine was sentenced on March 28, 2025, in federal court in Sioux City.

Blake Putnam, 39, from Sioux City, Iowa, pled guilty on December 3, 2024, to one count of conspiring to distribute methamphetamine and two counts of possession with intent to distribute methamphetamine.

Evidence at the plea and sentencing hearings showed that from January 2021 through March 2024, Putnam and others conspired to distribute 4500 grams (nearly 10 pounds) of methamphetamine in the Sioux City area. On February 5, 2024, law enforcement attempted to conduct a traffic stop on the vehicle Putnam was driving. Putnam attempted to elude law enforcement at high speeds and was apprehended when his vehicle blew a tire and stopped after hitting a curb. During the eluding attempt, Putnam was observed by a concerned citizen throwing packages out of his vehicle attempting to discard drug evidence. In the area identified, agents located and seized nearly one pound of methamphetamine in two packages. Agents also seized an eight-ball of methamphetamine, and 50 Adderall pills from defendant’s person. On March 5, 2024, after obtaining a search warrant, law enforcement seized approximately one pound of meth in one bag and about one ounce of meth in another bag from a backpack in a rental storage unit leased by Putnam in Sioux City, Iowa. Putnam brought this backpack to the storage unit on or about March 5, 2024, as evidenced by video recordings at the storage unit business.

Sentencing was held before United States District Court Judge Leonard T. Strand. Putnam was sentenced to 151 months’ imprisonment and must serve a five-year term of supervised release following the imprisonment. There is no parole in the federal system. Putnam remains in custody of the United States Marshal until he can be transported to a federal prison.

The case was prosecuted by Assistant United States Attorney Shawn S. Wehde and was investigated by the Tri-State Drug Task Force based in Sioux City, Iowa, that consists of law enforcement personnel from the Drug Enforcement Administration; Sioux City, Iowa, Police Department; Homeland Security Investigations; Woodbury County Sheriff’s Office; South Sioux City, Nebraska, Police Department; Nebraska State Patrol; Iowa National Guard; Iowa Division of Narcotics Enforcement; United States Marshals Service; South Dakota Division of Criminal Investigation; and Woodbury County Attorney’s Office, with assistance of Iowa State Patrol.

Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.pl.

The case file number is 24-4009.

Follow us on X @USAO_NDIA.

MIL Security OSI –

April 2, 2025
MIL-OSI Security: Members of Hampton Roads drug trafficking organization sentenced to prison

Source: Office of United States Attorneys

NORFOLK, Va. – The final member of a Hampton Roads drug trafficking conspiracy was sentenced today to 35 years in prison.

According to court documents, Donte Demille Hampton, aka Messiah, 38, of Suffolk, is a member of the violent Gangster Disciples gang and was the leader of a large-scale drug trafficking organization (DTO) responsible for selling large-scale amounts of methamphetamine and marijuana in the Hampton Roads area. Hampton, Mandi Marie Green, 42, of Norfolk, and Antonio Romya Beale, 49, of Norfolk, received, stored, packaged, and distributed meth and marijuana as well as firearms at a residence in Norfolk. On June 10, 2021, investigators searched the residence and recovered 514 grams of meth, 16.7 pounds of marijuana, THC edibles, four firearms, $5,553 in drug trafficking proceeds, a digital scale, and packaging materials to prepare the drugs for distribution.

Other members of the DTO include Joseph Grullon, 34, of Norfolk; Benjamin Adam Hogan, 42, of Norfolk; Kenneth Eric Mack, 47, of Chesapeake; William Blake Stennett, 38, of Virginia Beach; Robert Donald Tippit II, 29, of Chesapeake; and Dashawn Fonail Walker, 34, of Norfolk.

Hampton enforced his territory by ordering organization members to ruthlessly assault his enemies as well as his own employees who stole narcotics from him. Hampton’s employees video recorded themselves violently pistol whipping and beating an employee because he failed to pay for two ounces of meth.

On Oct. 27, 2021, Beale pled guilty to conspiracy to distribute 500 grams or more of methamphetamine and possession of a firearm in furtherance of a drug trafficking crime, and was sentenced on March 31, 2022, to 30 years in prison.

On Nov. 16, 2021, Green pled guilty to conspiracy to distribute 500 grams or more of methamphetamine and possession of a firearm in furtherance of a drug trafficking crime and was sentenced on May 26, 2022, to 25 years in prison.

On April 22, 2022, Walker pled guilty to conspiracy to distribute 500 grams or more of methamphetamine and possession of a firearm in furtherance of a drug trafficking crime and was sentenced on Sept. 1, 2022, to 24 years and seven months in prison.

On June 28, 2022, Mack pled guilty to interference with commerce by means of robbery and possession of a firearm in furtherance of a crime of violence and was sentenced on Oct. 27, 2022, to eight years and five months in prison.

On Aug. 17, 2022, Stennett pled guilty to interference with commerce by means of robbery and possession of a firearm in furtherance of a crime of violence and was sentenced on Dec. 13, 2022, to nine years and seven months in prison.

On Aug. 12, 2022, Tippit pled guilty to interference with commerce by means of robbery and possession of a firearm in furtherance of a crime of violence and was sentenced on Dec. 6, 2022, to eight years and 10 months in prison.

On Nov. 9, 2022, Grullon pled guilty to interference with commerce by means of robbery and possession of a firearm in furtherance of a crime of violence and was sentenced on April 26, 2023, to 11 years and nine months in prison.

On June 15, 2022, Hogan pled guilty to interference with commerce by means of robbery and possession of a firearm in furtherance of a crime of violence and was sentenced on July 20, 2023, to 12 years and six months in prison.

On Oct. 17, 2024, Hampton pled guilty to conspiracy to distribute 500 grams of more of methamphetamine and possession of a firearm in furtherance of a drug trafficking crime and was sentenced today to 35 years in prison.

Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia; Michael Feinberg, Acting Special Agent in Charge of the FBI’s Norfolk Field Office; Christopher Heck, Acting Special Agent in Charge of Immigration and Customs Enforcement Homeland Security Investigations (ICE HSI) Washington, D.C.; and Ramin Fatehi, Norfolk Commonwealth’s Attorney, made the announcement after sentencing by U.S. District Judge Elizabeth W. Hanes.

Special Assistant U.S. Attorney Graham M. Stolle, an Assistant Commonwealth’s Attorney with the Norfolk Commonwealth’s Attorney Office, Assistant U.S. Attorneys Joseph E. DePadilla and Luke Bresnahan, and former Assistant U.S. Attorney William B. Jackson prosecuted the case.

This effort is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 2:21-cr-115.

MIL Security OSI –

April 2, 2025
MIL-OSI USA: Tuberville Continues to Champion Cryptocurrency, Calls President Trump the “Crypto President”

US Senate News:

Source: United States Senator for Alabama Tommy Tuberville
WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) reintroduced two pieces of legislation related to protecting American cryptocurrency.
Senator Tuberville’s first bill, the Financial Freedom Act, would reverse a Biden-era memo from the U.S. Department of Labor (DOL) that limits options for where Americans can invest their retirement earnings. The Financial Freedom Act would allow Americans to choose how they want to invest their money, including in crypto.
“The Biden administration was hellbent on controlling every aspect of Americans’ lives,” said Senator Tuberville. “Meddling in 401(k) investments through overregulation restrains financial growth and restricts personal liberty. The federal government, which is $36 trillion debt, shouldn’t be telling anyone how to invest their money. My bill ensures that hardworking Americans have the financial freedom to make decisions about how to invest their retirement savings.”
Senator Cynthia Lummis (R-WY) is a cosponsor of this legislation.
Senator Tuberville’s second bill, the Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act, would prohibit the Commodity Futures Trading Commission (CFTC) from registering a digital commodity platform that is owned in whole or in part by an entity organized or established in China. It also requires the CFTC to revoke the registration of any digital commodity platform in the event an entity with ties to the Chinese Communist Party (CCP) acquires all or any part of the ownership of the entity.
Digital commodity platforms collect and store personally identifiable information — including Social Security numbers, mailing addresses, and sensitive financial account data — of their users. Allowing entities based in the PRC to access this information raises serious concerns related to investor protection, data privacy, national security, sanctions compliance, and anti-money laundering efforts. Companies based in the PRC all ultimately answer to the CCP.
“For four years, the Biden administration put America last – bowing to China at every turn and allowing our adversaries to get ahead,” said Senator Tuberville. “Thanks to President Trump, those days are over. Crypto is the future and we have to make sure our markets are protected from bad actors like China who want to destroy us. This critical bill will protect our markets and make Americans safer.”
Senator Cindy Hyde-Smith (R-MS) is a cosponsor of this legislation.
Senator Tuberville discussed his legislation on Fox Business with Larry Kudlow.
BACKGROUND:
FINANCIAL FREEDOM ACT
The Financial Freedom Act would reverse regulatory guidance released by the Employee Benefits Security Administration, an agency inside of U.S. Department of Labor (DOL). The guidance attempts to bar 401(k) investors from investing in cryptocurrency and undermines the ability of 401(k) plans to offer brokerage windows, which give retirement plan participants the ability to personally control how their assets are invested.
The DOL guidance threatens that employers and investment firms could be subject to investigation and enforcement actions should they allow individuals using brokerage windows to invest in cryptocurrency. Senator Tuberville’s bill would bar such investigations and enforcement actions, opening the door for Americans to invest their savings in investments of their choice.
Senator Tuberville has consistently been an outspoken advocate in Congress for personal financial freedom.
Senator Tuberville previously introduced the Financial Freedom Act in the 117th Congress and penned an op-ed warning against government infringement on personal investment decisions.
Senator Tuberville spoke on the Senate floor in support of the Financial Freedom Act.
Senator Tuberville joined 36 of his U.S. Senate colleagues in introducing the Fair Access to Banking Act, a bill to protect fair access to financial services by preventing banks and financial institutions from discriminating against law-abiding businesses.
Senator Tuberville added his support to a resolution that would challenge the Biden administration’s rule to allow retirement fund managers to consider and prioritize Environmental, Social, and Governance (ESG) factors while making retirement investment decisions.
Senator Tuberville introduced legislation to protect Americans’ financial privacy against government surveillance.
Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act
The CCP’s efforts to mine data and surveil the public are well known, and decisive action is needed to safeguard the American people. Under current law, U.S. regulators have limited tools to block the purchase of a U.S. digital commodity platform by a CCP-tied entity. The Prohibiting Foreign Adversary Interference in Cryptocurrency Markets Act will help to wall off the burgeoning U.S. digital asset industry from Chinese interference and help to ensure continued American leadership in financial innovation.
Senator Tuberville believes the CCP seeks to overtake the United States as the top global superpower and that America must face China’s growing military and non-military threats with clear-eyed resolve.
Since assuming office in the U.S. Senate in 2021, Senator Tuberville has led and supported numerous efforts to protect American investments, intellectual property, and national security from China.
Senator Tuberville led the call for an investigation into Webull Financial, LLC and Moomoo, Inc. – two Chinese-owned stock trading apps operating in the United States that are registered with the SEC and FINRA.
Both apps are widely used by American investors and freely collect and store sensitive information about users, including Social Security numbers, mailing addresses, and financial account data.
In May 2023, Senator Tuberville sent a letter to SEC Chair Gary Gensler and FINRA President and CEO Robert Cook calling for oversight of the trading platforms due to the potential CCP access of American user data. In the letter, Senator Tuberville asked for answers to critical questions about the ability of the SEC and FINRA to examine the Chinese companies’ compliance with U.S. law.
In March 2023, Senator Tuberville led a congressional delegation to Panama to discuss countering China’s growing influence in the region.
On the trip, Senator Tuberville met with American and Panamanian officials to strategize ways to combat Chinese attempts to control the Panama Canal, which would give China enormous influence over global supply chains.
To curb Chinese influence in the economy, Senator Tuberville introduced legislation to ban members of the CCP from receiving B-1 and B-2 visas to the United States for vacation and non-official government business.
The CCP is responsible for trillions of dollars of intellectual property theft each year. To curb growing foreign influence and crime and discourage other Chinese nationals from joining the CCP, the bill cosponsored by Senator Tuberville would bar all 93 million CCP members from entering the United States using nonimmigrant B-1 and B-2 visas.
Senator Tuberville believes the retirement savings of our military and federal government employees, known as the Thrift Savings Plan (TSP), should not be invested in the economies of our adversaries, such as China.
Senator Tuberville wrote about this issue in the Wall Street Journal in a column entitled, “I’ll Keep Veterans’ Pensions Safe From Communism” and discussed the issue on Fox Business.
Senator Tuberville continued the push for accountability from the Federal Retirement Thrift Investment Board (FRTIB) surrounding the board’s policy on foreign investments.
Senator Tuberville placed a hold on nominees to the FRTIB until the nominees provided clarification regarding foreign investment policies, which forced the nominees to commit to opposing TSP investment in China.
MORE:
Tuberville Questions CFTC Chairman on Taxation of Cryptocurrency and the Need for a Regulatory Framework for Cryptocurrency
Tuberville Leads Letter Calling for DOJ, SEC Investigation into China-Tied Crypto Firm Prometheum, Inc.
Tuberville Leads Bipartisan Bill to Block CCP Ownership of American Crypto Companies
Tuberville, Lummis Work to Establish Strategic Bitcoin Reserve
Tuberville Takes Action to Protect Conservatives, Taxpayers from Political Discrimination by Banks
ICYMI: Tuberville in Daily Caller: A Fed-Controlled Digital Dollar Could Mean The End Of Freedom In America
Tuberville Reintroduces Bill to Keep the Government Out of Americans’ Investment Decisions
WHAT THEY ARE SAYING: Support Grows for Tuberville’s Legislation to Protect 401(k) Investment Freedom
Tuberville Continues Push to Protect Retirement Savers’ Financial Freedom
New Tuberville Legislation Promotes Financial Freedom for 401(k) Investors
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

MIL OSI USA News –

April 2, 2025
MIL-OSI USA: Cantwell to Vote NO on Advancing Social Security Commissioner Nominee

US Senate News:

Source: United States Senator for Washington Maria Cantwell
04.01.25
Cantwell to Vote NO on Advancing Social Security Commissioner Nominee
Cantwell: “Social Security is no place to slash and burn. It’s a contract with the American people. It should be kept.”
WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, spoke against advancing Frank Bisignano – President Donald Trump’s pick to serve as Commissioner of the Social Security Administration – at a Senate Finance Committee Executive Session. The committee will hold their vote to advance Bisignano’s nomination soon.
“We have an administration represented with DOGE, who think that they’re going to come in here and find billions of dollars that they can take out of Social Security and give to tax breaks to billionaires and corporations,” said Sen. Cantwell. “He’s not being hired because he’s an expert on Social Security. He’s being hired because somebody thinks he’s going to come in here and basically get billions of dollars out of Social Security to give to a tax bill.”
At today’s Senate Finance Committee Executive Session, Sen. Cantwell explained that her constituent, who was incorrectly presumed dead shortly after Elon Musk installed his DOGE team at the Social Security Administration, has been forced to “wage war” against the SSA to correct this mistake:
“Social Security wrongfully declared one of my constituents, Ned Johnson, dead. His monthly benefit was withheld. Thousands of dollars in previously paid benefits were clawed back out of his joint account he shares with his wife. The erroneous determination set off a bureaucratic nightmare, and ultimately, he had to wait in line at the Federal Building.”
Sen. Cantwell continued, “Why does he have to wage a war just to get his Social Security benefits? We cannot afford more of this thinking in this position. We need to make sure that we know the answers, and I do not believe that we have them today.”
Video of Sen. Cantwell’s remarks today with Bisignano are available HERE, audio HERE, and a full transcript is HERE.

“The taxpayers that pay into the program do so throughout their lives, and they want the government to live up to that obligation and take care of them,” said Sen. Cantwell. “Overwhelmingly, Americans support Social Security. A recent AARP poll found that 85% of Americans want Social Security benefits maintained or increased. And that shows that that’s everybody, that’s not just Democrats or people who remember how Social Security got created. This is everybody. This is Democrats, Republicans, independents.”
In the State of Washington, 1.4 million people receive Social Security. Below is a breakdown of Social Security recipients by county:

County

Number of Social Security Recipients

King Co.

312,000+

Spokane Co.

115,000+

Clark Co.

98,000+

Yakima Co.

46,000+

*County data sourced from SSA.gov*
Sen. Cantwell has been a long-standing champion for Social Security and protecting Washingtonian’s benefits. In December 2024, Sen. Cantwell co-sponsored and voted to pass the bipartisan Social Security Fairness Act, which repealed two Social Security policies that unfairly limited payments for people who also receive a pension from a job that is not covered by Social Security, as well as their surviving spouses and widow(ers). In 2018, Sen. Cantwell introduced and voted to pass the Tribal Social Security Fairness Act to correct a long-standing inequity in the Social Security Act that prevents elected tribal leaders from contributing to and accessing Social Security benefits.

MIL OSI USA News –

April 2, 2025

MIL-OSI: Business First Bancshares, Inc. Announces First Quarter 2025 Earnings Release Date and Conference Call

Source: GlobeNewswire (MIL-OSI)

BATON ROUGE, La., April 01, 2025 (GLOBE NEWSWIRE) — Business First Bancshares, Inc. (Nasdaq: BFST), the parent company of b1BANK, is scheduled to release first quarter 2025 earnings after market close on Thursday, April 24, 2025. Executive management will host a conference call and webcast to discuss results on the same day (Thursday, April 24, 2025) at 4:00 p.m. CST.

Interested parties may attend the call by dialing toll-free 1-800-715-9871 (North America only), conference ID 8825623, or asking for the Business First Bancshares conference call.

The live webcast can be found at https://edge.media-server.com/mmc/p/ziae6qsd. On the day of the presentation, the corresponding slide presentation will be available to view on the b1BANK website at https://www.b1bank.com/shareholder-info.

About Business First Bancshares, Inc.

Business First Bancshares, Inc., (Nasdaq: BFST) through its banking subsidiary b1BANK, has $7.9 billion in assets, $6.9 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (excludes $0.9 billion of b1BANK assets managed by SSW) and operates Banking Centers and Loan Production Offices in markets across Louisiana and Texas providing commercial and personal banking products and services. b1BANK is a 2024 Mastercard “Innovation Award” winner and multiyear winner of American Banker Magazine’s “Best Banks to Work For.” Visit b1BANK.com for more information.

Media Contact: Misty Albrecht
b1BANK
225.286.7879
Misty.Albrecht@b1BANK.com

Investor Relations Contact:
Gregory Robertson	Matt Sealy
337.721.2701	225.388.6116
Gregory.Robertson@b1BANK.com	Matt.Sealy@b1BANK.com

The MIL Network –

April 2, 2025

MIL-OSI: Partners Value Investments Completes Amalgamation

Source: GlobeNewswire (MIL-OSI)

TORONTO, April 01, 2025 (GLOBE NEWSWIRE) — Partners Value Investments L.P. (TSXV: PVF.UN, TSXV: PVF.PR.U) (the “Partnership”) and Partners Value Investments Inc. (TSXV: PVF.WT) (“PVII”) today announced the successful completion of a short form vertical amalgamation under the Business Corporations Act (Ontario) between PVII and Partners IV Inc., a wholly-owned subsidiary of PVII (the “Amalgamation”).

As a result of the Amalgamation, 5,640,600 non-voting exchangeable shares of PVII (the “Exchangeable Shares”) that were previously held by Partners IV were cancelled. Additionally, in connection with the Amalgamation, an aggregate of 2,749,429 Exchangeable Shares were issued to former holders of non-voting common shares in the capital of Partners IV.

The PVII Board and the board of trustees of PVMT have each appointed Cyrus Madon as Chief Executive Officer of PVII and PVMT. Following completion of the Amalgamation, subject to TSX Venture Exchange acceptance, Aleks Novakovic, Paul Farrell and Don MacKenzie will be joining the board of directors of PVII (the “PVII Board”), replacing Frank Lochan, Gregory Morrison and Ralph Zarboni who are each retiring from the PVII Board. Additionally, following completion of the Amalgamation, subject to TSX Venture Exchange acceptance, Frank Lochan and Gregory Morrison will also step down as trustees of PVI Management Trust (“PVMT”), the general partner of the Partnership, and be replaced with Don MacKenzie and Paul Farrell as trustees of PVMT.

“We would like to express our sincere gratitude to each of Frank, Ralph, and Greg for their service and for their numerous contributions to the group’s success,” said Brian Lawson, chair of the PVII Board.

Additional Information

For additional information, please contact Investor Relations at ir@pvii.ca or 416-643-7621.

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

The MIL Network –

April 2, 2025

MIL-OSI: CNL STRATEGIC CAPITAL ANNOUNCES OPERATING RESULTS FOR YEAR-END 2024

Source: GlobeNewswire (MIL-OSI)

Orlando, Fla., April 01, 2025 (GLOBE NEWSWIRE) — CNL Strategic Capital, LLC (“CNL Strategic Capital,” the “Company” or “we”) seeks to provide current income and long-term appreciation to investors by acquiring controlling equity stakes in combination with loan positions in privately owned middle-market businesses. The Company announced its operating results for the year ended Dec. 31, 2024.

Highlights:

As of Dec. 31, 2024, CNL Strategic Capital’s portfolio consisted of equity and debt investments in 16 portfolio companies and approximately $1.3 billion in total assets, compared with 13 portfolio companies and approximately $1.0 billion in total assets as of Dec. 31, 2023.
For the year ended Dec. 31, 2024, the Company recognized a net change in unrealized appreciation on investments, including unrealized foreign currency gain of approximately $88.7 million and had total investment income of approximately $71.7 million. That compares with a net change in unrealized appreciation on investments of $41.7 million and total investment income of approximately $59.5 million in 2023.
The cumulative total investment return based on net asset value (NAV) since inception and through Dec. 31, 2024, was approximately 105.5% for Class FA shares, 89.5% for Class A shares, 77.2% for Class T shares, 79.8% for Class D shares, 91.1% for Class I shares and 73.5% for Class S shares.¹ These returns are prior to any applicable sales load and assume shareholders reinvested their distributions.
For the year ended Dec. 31, 2024, CNL Strategic Capital received approximately $237.5 million in net offering proceeds, including approximately $18.1 million received through the distribution reinvestment plan. Since beginning operations in February 2018 through March 24, 2025, CNL Strategic Capital has raised approximately $1.2 billion, including $49.8 million received through the distribution reinvestment plan.

Cash distributions declared net of distributions reinvested during the periods presented were funded from the following sources (in thousands):

	Year Ended Dec. 31,
	2024				2023
	Amount		% of Cash Distributions Declared Net of Distributions Reinvested		Amount		% of Cash Distributions Declared Net of Distributions Reinvested
Net investment income before reimbursement of expense support (reimbursement)	$	21,065	106.6	%	$	23,110	133.5	%
Expense Support (reimbursement)		20	0.1			(644)	(3.7)
Net investment income	$	21,085	106.7	%	$	22,466	129.8	%
Cash distributions declared, net of distributions reinvested²	$	19,754	100.0	%	$	17,304	100.0	%

Sources of declared distributions on a GAAP basis (in thousands):

	Year Ended Dec. 31,
	2024				2023
	Amount		% of Distributions Declared		Amount		% of Distributions Declared
Net investment income³	$	21,085	55.6	%	$	22,466	74.7	%
Distributions in excess of net investment income⁴	16,814		44.4		7,597		25.3
Total distributions declared	$	37,899	100.0	%	$	30,063	100.0	%

Total investment return based on net asset value (NAV) after total return incentive fees per share for the year ended Dec. 31, 2024¹:

Class FA	Class A	Class T	Class D	Class I	Class S
11.20%	10.23%	9.32%	9.91%	9.93%	11.20%

(These returns are prior to any applicable sales load and assume shareholders reinvested their distributions. These are not actual shareholder returns. Actual returns may vary materially.)

Cumulative total investment return based on NAV after sales fees since inception through Dec. 31, 2024¹:

Class FA (2/7/18-12/31/24)	Class A (4/10/18-12/31/24)	Class T (5/25/18-12/31/24)	Class D (6/26/18-12/31/24)	Class I (4/10/18-12/31/24)	Class S (3/31/20-12/31/24)
105.5%	89.5%	77.2%	79.8%	91.1%	73.5%

(These returns are prior to any applicable sales load and assume shareholders reinvested their distributions. These are not actual shareholder returns. Actual returns may vary materially.)

¹This is not shareholder returns. Total investment return is calculated for each share class as the change in the net asset value for such share class during the period and assuming all distributions are reinvested. Amounts are not annualized and are not representative of total return as calculated for purposes of the total return incentive fee. Since there is no public market for the Company’s shares, terminal market value per share is assumed to be equal to net asset value per share on the last day of the period presented. The Company’s performance changes over time and currently may be different than that shown above. Past performance is no guarantee of future results. Investment performance is presented without regard to sales load that may be incurred by shareholders in the purchase of the Company’s shares. For the period from the date the first share was issued for each respective share class through Dec. 31, 2024. ²Excludes $18,145 and $12,759 of distributions reinvested pursuant to the Company’s distribution reinvestment plan during the year ended Dec. 31, 2024 and 2023, respectively. ³Net investment income includes expense support (reimbursement) of $20 and $(644) for the years ended Dec. 31, 2024, and 2023, respectively. ⁴Consists of distributions made from offering proceeds for the periods presented.

About CNL Strategic Capital
CNL Strategic Capital is a publicly registered, non-traded limited liability Company that seeks to provide current income and long-term appreciation to individuals by acquiring controlling equity stakes in combination with loan positions in durable and growing middle-market businesses. The Company is externally managed by CNL Strategic Capital Management, LLC and Levine Leichtman Strategic Capital, LLC (LLSC). For additional information, please visit cnlstrategiccapital.com.

About CNL Financial Group
CNL Financial Group (CNL) is a leading private investment management firm providing alternative investment opportunities. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $36 billion in assets. CNL is headquartered in Orlando, Florida. For more information, visit cnl.com.

About Levine Leichtman Strategic Capital
LLSC is an affiliate of Levine Leichtman Capital Partners, LLC (LLCP), a middle-market private equity firm with a 40-year track record of investing across various targeted sectors, including Franchising & Multi-unit, Business Services, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.

LLCP’s global team of dedicated investment professionals is led by ten partners who have worked at LLCP for an average of 20 years. Since inception, LLCP has managed approximately $15.6 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies. LLCP currently manages $10 billion of assets and has offices in Los Angeles, New York, Chicago, Miami, London, Amsterdam, Stockholm, and Frankfurt. For additional information, please visit llcp.com.

The information in this press release may include “forward-looking statements.” These statements are based on the beliefs and assumptions of CNL Strategic Capital’s management and on the information currently available to management at the time of such statements. Forward-looking statements generally can be identified by the words “believes,” “expects,” “intends,” “plans,” “estimates” or similar expressions that indicate future events. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond CNL Strategic Capital’s control. Important risks, uncertainties and factors that could cause actual results to differ materially from those in the forward-looking statements include the risks associated with the Company’s ability to pay distributions and the sources of such distribution payments, the Company’s ability to locate and make suitable investments and other risks described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K and the other documents filed by the Company with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

###

The MIL Network –

April 2, 2025

MIL-OSI USA: Auditor General DeFoor, Rep. Hill-Evans Celebrate Start of Financial Literacy Month with Local Partners

Source: US State of Pennsylvania

April 01, 2025 – Harrisburg, PA

Auditor General DeFoor, Rep. Hill-Evans Celebrate Start of Financial Literacy Month with Local Partners

Auditor General Timothy L. DeFoor today joined Representative Carol Hill-Evans (D-York), Ryan Unger from the Harrisburg Chamber & CREDC, and Alex Halper from the PA Chamber of Business and Industry to recognize April as Financial Literacy Month in Pennsylvania. Representative Hill-Evans’ resolution, H.R. 120, is being considered by the House Finance Committee.

“Financial literacy is an important life skill that every person needs to learn to set themselves up for future success,” Auditor General DeFoor said. “I’d like to thank Representative Hill-Evans for being an advocate and recognizing the importance of financial literacy through her resolution declaring that April is Financial Literacy Month in the commonwealth. By continuing to work together, we are one step closer to making Pennsylvania more financially secure.”

MIL OSI USA News –

April 2, 2025
MIL-OSI USA: Governor Shapiro Stands With Pennsylvania Hardwoods Companies in Mifflin County to Highlight Commonwealth’s Investments in Agriculture Industry

Source: US State of Pennsylvania

April 01, 2025 – Reedsville, PA

Governor Shapiro Stands With Pennsylvania Hardwoods Companies in Mifflin County to Highlight Commonwealth’s Investments in Agriculture Industry

Governor Josh Shapiro and Pennsylvania Department of Agriculture Secretary Russell Redding visited Metzler Forest Products in Mifflin County to highlight how strategic Commonwealth investments – like the Shapiro Administration’s first-in-the-nation Agricultural Innovation Grant Program – are strengthening Pennsylvania’s agriculture industry, creating jobs, and driving economic growth. These investments provide grants, loans, and technical support to farmers and businesses adopting cutting-edge technologies, spurring growth, improving efficiency, and ensuring Pennsylvania remains at the forefront of the industry. During the visit, the Governor and Secretary Redding toured the facility to see how Metzler will use its $550,000 in grant funding – announced in January – to enhance biochar production, improve energy efficiency, and expand its manufacturing capabilities.

Governor Shapiro’s visit comes amid growing economic uncertainty over new federal tariffs, particularly impacting Pennsylvania’s nation-leading hardwoods industry, which plays a critical role in the Commonwealth’s agriculture and manufacturing sectors. Since taking office, the Governor has placed significant emphasis on supporting and growing Pennsylvania’s agriculture industry – bringing Democrats and Republicans together to invest in new technologies, strengthen supply chains, and drive economic growth for farmers and producers. He remains committed to ensuring Pennsylvania’s farmers have the freedom to chart their own course and the opportunity to succeed. The Commonwealth is home to 50,000 farms, contributing $132 billion to the economy and supporting nearly 600,000 jobs.

“From day one, my Administration has stood up for Pennsylvania’s farmers and our ag sector – investing in innovation, expanding opportunity, and cutting costs. While the federal government imposes policies that hurt our economy, Pennsylvania is leading the way in driving economic growth – investing in agricultural innovation, supporting our manufacturers, and delivering real results for farmers and their families,” said Governor Shapiro. “Tariffs are taxes, plain and simple. They make it harder for our farmers to do business, weaken their competitiveness in key markets, and trigger retaliatory tariffs on Pennsylvania goods. The last thing Pennsylvanians need is Washington, D.C., raising taxes and driving up costs I will keep working to cut costs, lower taxes, and create more economic opportunity for all Pennsylvanians.”

Speaker list:
Nate Metzler, General Manager, Metzler Forest Products
Governor Josh Shapiro
Stephanie Phillips-Taggart, Executive Director, Keystone Wood Products Association
Nick Gilson, Founder & CEO, Gilson Snow
Agriculture Secretary Russell Redding
Mifflin County Commissioner Kevin Kodish

MIL OSI USA News –

April 2, 2025

Category: Finance

What is the Medical Research Future Fund?

How is the money being used?

A tough climate for research

So, is it working?

What’s being done to fix the issues?

Homes England and Octopus Real Estate launch £150m Greener Homes Alliance phase 2

Notes to editors:

About Homes England

Press Office Contact Details

About Octopus Real Estate

About Lighthouse

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On the eve of the 2024-25 bushfire season, CFA and ForestFire Management Victoria (FFMVic) hosted their annualmulti-agency bushfire investigation course in Castlemaine.

On the eve of the 2024-25 bushfire season, CFA and Forest
Fire Management Victoria (FFMVic) hosted their annual
multi-agency bushfire investigation course in Castlemaine.