Category: Finance

MIL-OSI: Notice of Annual General Meeting of Jyske Bank A/S

Source: GlobeNewswire (MIL-OSI)

This is to give notice of an Annual General Meeting of Jyske Bank A/S, which will be held on Tuesday 25 March 2025, at 3.00 p.m. at Gl. Skovridergaard, Marienlundsvej 36, DK-8600 Silkeborg

AGENDA of general meeting:

a.	Report of the Supervisory Board on Jyske Bank’s operations during the preceding year.
b.	Presentation of the annual report for adoption or other resolution as well as resolution as to the application of profit or cover of loss according to the financial statements adopted, including the Supervisory Board’s proposal for payment of dividend.
c.	Presentation of and consultative ballot on the remuneration report.
d.	Determination of remuneration to the Shareholders’ Representatives and the Supervisory Board:
	1	Determination of the remuneration of Shareholders’ Representatives for 2025, cf. Art.15(5) of the Articles of Association.
	2	Determination of the remuneration of Supervisory Board members for 2025, cf. Art.16(9) of the Articles of Association.
e.	Consideration of motion to the effect that the Supervisory Board authorises the Bank to acquire Jyske Bank shares on one or more occasions, until the next annual general meeting, of up to a nominal amount of DKK 64,272,095 and at amounts not deviating by more than 10% from the closing bid price listed on NASDAQ Copenhagen A/S at the time of acquisition.
f.	Motions.
	Motions proposed by the Supervisory Board:
	1	Reduction of Jyske Bank’s nominal share capital by DKK 27,651,180 (corresponding to 2,765,118 shares at a nominal value of DKK 10) from DKK 642,720,950 to DKK 615,069,770. With reference to S.188(1) of the Danish Companies Act we point out that the capital reduction takes place through cancellation of previously acquired own shares acquired by Jyske Bank in accordance with authorisation from members in general meeting. Hence, the capital reduction is spent on payment of capital owners. If the motion is adopted, Jyske Bank’s holding of own shares will be reduced by 2,765,118 shares of a nominal value of DKK 10 These shares have been bought back at a total amount of DKK 1,499,999,584 which implies that, apart from the nominal capital reduction, a total amount of DKK 1,472,348,404 has been paid to the capital owners in connection with the buy-backs. The capital reduction takes place at a share premium since it will be at 542.47 for each share of a nominal amount of DKK 10, corresponding to the average price at which the shares have been bought back. In consequence of the above, the following amendment to the Articles of Association is proposed: Art. 2 to be amended to the effect that Jyske Bank’s nominal share capital be DKK 615,069,770 distributed on 61,506,977 shares.
	2	Amendments to Art. 3(8), Art. 4(2) and (3), Art. 5(1) and (2) and Art. 24(2): “VP Securities Services” to be changed into “VP Securities A/S”.
	3	To replace the existing authorizations in the Articles of Association, the Supervisory Board is authorized to carry out capital increases with and without pre-emption rights and to raise convertible loans with and without pre-emption rights by amending Art. 4(2), (3) and (5), Art. 5(1), (2), (3) and (4) of the Articles of Association. The amendments are considered together and are proposed to be changed to the following wording:
		–	Art. 4(2): As specified by the Supervisory Board in respect of time and terms and conditions, the share capital can be increased through the subscription of new shares without preferential subscription rights for existing shareholders. The increase may be in one or several issues by not more than a nominal amount of DKK 60 million (6 million shares of a face value of DKK 10). The increase may be effected through cash payment or through acquisition of existing businesses or specific assets. The increase must in every case be effected not below the market price. The increase cannot be effected through part payment. The authorisation will be effective until 1 March 2030. The new shares shall when issued and transferred be registered in the names of their holders at VP Securities A/S and in the Bank’s register of shareholders. The new shares are negotiable instruments, and there are no restrictions in their negotiability except for the provisions laid down in Art. 3 of the Articles of Association. Shareholders shall be under no obligation to have their shares redeemed in full or in part.
		–	Art. 4(3): As specified by the Supervisory Board in respect of time and terms and conditions, the share capital can be increased through the subscription of new shares with preferential subscription rights for existing shareholders. The increase may be in one or several issues by not more than a nominal amount of DKK 120 million (12 million shares of a face value of DKK 10). The increase may be effected through cash payment or in any other manner. The increase may be offered at a favourable price. The increase cannot be effected through part payment. The authorisation will be effective until 1 March 2030. The new shares shall when issued and transferred be registered in the names of their holders at VP Securities A/S and in the Bank’s register of shareholders. The new shares are negotiable instruments, and there are no restrictions in their negotiability except for the provisions laid down in Art. 3 of the Articles of Association. Shareholders shall be under no obligation to have their shares redeemed in full or in part.
		–	Art. 4(5): To be deleted.
		–	Art. 5(1): The Bank may, following resolution by the Supervisory Board, up to 1 March 2030, on one or more occasions raise loans against bonds or other instruments of debt which bonds or instruments of debt shall entitle the lender to convert his claim into shares (convertible loans) and the Supervisory Board is authorised to carry out the related capital increase. Convertible loans may be raised with a conversion right to a maximum number of shares with a total nominal value corresponding to the maximum nominal amount at the time of raising the convertible loans by which the share capital may be increased using the remaining authorization in Art. 4(3), calculated in relation to the conversion price determined at the time of raising the convertible loans. Exercising the authorisation to increase the share capital in Art. 4(3), will hence reduce the authorisation to raise convertible loans in accordance with this provision. The Bank’s shareholders shall have a preferential subscription right to convertible loans. Where the Supervisory Board decides to raise convertible loans, when exercising the authorization in this provision, the authorisation to increase the share capital, cf. Art. 4(3), shall be considered to be utilised by an amount corresponding to the maximum conversion right. The term allowed for conversion may be fixed at a period exceeding five years after the raising of the convertible loan. For shares which shall be issued on the basis of the convertible loans mentioned in this provision, the Supervisory Board shall decide – with due regard to the time of subscription or utilisation of the conversion right – the time from when such new shares shall carry a right to receive dividend and other terms and conditions of the share issue. Shares issued on the basis of the convertible loans mentioned in this provision cannot be paid in by partial payment, are registered shares and are registered in the name of the holder in VP Securities A/S and the Bank’s register of shareholders upon issuance and transfer. The new shares are negotiable instruments, and the same rules as apply to the existing shares in respect of rights and duties, redeemability and transferability shall apply.
		–	Art. 5(2): The Bank may, following resolution by the Supervisory Board, up to 1 March 2030, on one or more occasions raise loans against bonds or other instruments of debt which bonds or instruments of debt shall entitle the lender to convert his claim into shares (convertible loans) and the Supervisory Board is authorised to carry out the related capital increase. Convertible loans may be raised with a conversion right to a maximum number of shares with a total nominal value corresponding to the maximum nominal amount at the time of raising the convertible loans by which the share capital may be increased using the remaining authorization in Art. 4(2), calculated in relation to the conversion price determined at the time of raising the convertible loans. Exercising the authorisation to increase the share capital in Art. 4(2), will hence reduce the authorisation to raise convertible loans in accordance with this provision. The Bank’s shareholders shall not have a preferential subscription right to convertible loans which are offered at a subscription price and a conversion price to the effect that the right of conversion corresponds to the market price of the shares at the time the resolution to raise convertible loans by using the authorisation of this provision was passed by the Supervisory Board. The convertible bonds or other instruments of debt may be issued as payment upon the Bank’s acquisition of existing businesses or specific assets corresponding to the value of the convertible bonds or other instruments of debt. Where the Supervisory Board decides to raise convertible loans, when exercising the authorization in this provision, the authorisation to increase the share capital, cf. Art. 4(2), shall be considered to be utilised by an amount corresponding to the maximum conversion right. The term allowed for conversion may be fixed at a period exceeding five years after the raising of the convertible loan. For shares which shall be issued on the basis of the convertible loans mentioned in this provision, the Supervisory Board shall decide – with due regard to the time of subscription or utilisation of the conversion right – the time from when such new shares shall carry a right to receive dividend and other terms and conditions of the share issue. Shares issued on the basis of the convertible loans mentioned in this provision cannot be paid in by partial payment, are registered shares and are registered in the name of the holder in VP Securities A/S and the Bank’s register of shareholders upon issuance and transfer. The new shares are negotiable instruments, and the same rules as apply to the existing shares in respect of rights and duties, redeemability and transferability shall apply.
		–	Art. 5(3): To be deleted.
		–	Art. 5(4): To be deleted.
g.	Election of members:
	1	Election of Shareholders’ Representatives, cf. Art. 14(4) of the Articles of Association. The proposed candidates and further information about them are available as from Friday 28 February 2025 at Jyske Bank’s website.
	2	Election of Supervisory Board members, cf. Art. 16(1)(b) of the Articles of Association. The Supervisory Board proposes re-election of Lisbeth Holm, CEO, Vejle and Consultant and Professional Board Member, Glenn Söderholm, Vejbystrand (Sweden).
h.	Election of auditors:
	1	The Supervisory Board proposes the re-election of EY Godkendt Revisionspartnerselskab. The motion is in accordance with the recommendation of the Audit Committee to the Supervisory Board. The recommendation of the Audit Committee is free from influence by any third parties and is not – and has not been – subject to any agreement with a third party who in any way limits the appointment of specific auditors or audit firms by members in general meeting.
	2	The Supervisory Board proposes the re-election of EY Godkendt Revisionspartnerselskab for verification of statutory information on sustainability. The motion is in accordance with the recommendation of the Audit Committee to the Supervisory Board. The recommendation of the Audit Committee is free from influence by any third parties and is not – and has not been – subject to any agreement with a third party who in any way limits the appointment of specific auditors or audit firms by members in general meeting.
i.	Any other business.

Reference to Jyske Bank’s website for further information
Where in this notice of a General Meeting, reference is made to Jyske Bank’s website for further information, this link can be used: https://jyskebank.com/investorrelations/generalmeetings.

Adoption of motions – special requirements
Motions to amend the Bank’s Articles of Association at annual general meetings shall only be adopted where not less than 90 per cent of the voting share capital is represented at the annual general meeting and only where adopted by both three fourth of the votes cast and by three fourth of the voting share capital represented at the general meeting, cf. Art. 12 of the Articles of Association. Where less than 90 per cent of the voting share capital is represented at the annual general meeting, but the said motion obtains both three fourth of the votes cast and three fourth of the voting share capital represented at the annual general meeting, the said motion may be adopted at a new general meeting by the said qualified majority irrespective of the proportion of the share capital represented.

Size of the share capital, voting rights of the shareholders and registration date
Jyske Bank’s share capital is DKK 642,720,950, comprising shares at a face value of DKK 10. Any share amount of DKK 10 shall carry one vote, provided always that 4,000 votes are the highest number of votes any one shareholder may cast on his own behalf. Voting rights can only be exercised by shareholders or their proxies. For the voting right of a share to be exercised, the share shall be registered in the name of the holder in Jyske Bank’s register of shareholders not later than on the day of registration, which is Tuesday, 18 March 2025, or the title to such share shall be notified and documented to the Bank within that same time limit.

Proxy and postal vote
Shareholders may as from Friday, 28 February up to and including Friday, 21 March 2025 give voting instructions, appoint Jyske Bank’s Supervisory Board or a third party as proxy either electronically or by means of the Power of Attorney form.

Shareholders may attend the General Meeting by proxy and cast their votes by proxy.

In addition, shareholders may as from Friday, 28 February to Monday 24 March 2025 at 10.00 a.m. cast postal votes either electronically or by means of a form.

Proxies may be appointed, or postal votes may be cast electronically at the Investor Portal via Jyske Bank’s website. A form for the appointment of proxies or for casting postal votes is available at one of Jyske Bank’s branches or can be downloaded from Jyske Bank’s website. Where the form is used, please forward the completed and signed form either by post to Euronext Securities (VP Securities A/S) at the address Nicolai Eigtveds Gade 8, 1402 Copenhagen K or by email to CPH-investor@euronext.com. The form must reach Euronext Securities (VP Securitas A/S) by the above-mentioned deadlines, and proxies must have been appointed or postal votes must have been cast electronically by the same deadlines.

Custodian bank
Jyske Bank’s shareholders may choose Jyske Bank A/S as their custodian bank in order to exercise their financial rights through Jyske Bank A/S.

Questions from shareholders
Shareholders are recommended to ask questions in writing before the general meeting about the items of the agenda or Jyske Bank’s financial position. Please send questions to Jyske Bank A/S, Juridisk Afdeling, Vestergade 8-16, DK-8600 Silkeborg or by email to Juridisk@jyskebank.dk. Questions and answers will be presented at the general meeting, and shareholders who have asked questions will receive replies directly from Jyske Bank. At the General Meeting, the management will also answer questions from the shareholders about matters of importance for the financial situation of Jyske Bank and questions for consideration at the General Meeting.

Additional information
The following documents and information can be downloaded from Jyske Bank’s website from Friday, 28 February 2025:

Notice of General Meeting.
The total number of shares and voting rights at the date of the notice.
Agenda and full wording of motions.
Annual Report and the consolidated financial statements with the auditor’s report and the management’s review.
Remuneration report
List of candidates and further information about the proposed candidates with respect to election of Shareholders’ Representatives and the Supervisory Board.
The forms to be used when voting by proxy or by postal vote.

Notification of participation
Shareholders who wish to attend and cast their votes at the General Meeting may register for the General Meeting at the Investor Portal via Jyske Bank’s website as from Friday 28 February 2025 up to and including Friday 21 March 2025.
Confirmation of registration and QR code for the general meeting portal will be submitted by email (also in case of powers of attorney to third parties), and therefore it is important that you register your email address at the Investor Portal.
At the entrance to the general meeting, you press the submitted QR code in the email to register your attendance which is why you must bring your smart phone or your tablet. Any votes will also take place via the General Meeting Portal. Additional guidelines for using the General Meeting Portal will be available at the entrance to the general meeting.
If you are unable to receive confirmation of registration to the general meeting by email, you may register for the general meeting by means of the sign-up form available at Jyske Bank’s website or by contacting one of Jyske Bank’s branches. If so, you must contact and confirm your attendance at the entrance to the general meeting which requires that you produce valid identification.

Live webcast
The general meeting will be live webcasted via InvestorPortalen. The transmission will comprise images and sound. In order to follow the general meeting shareholders must log on to InvestorPortalen with their MitIDs or VP-IDs. Registration to the general meeting is not required in order to follow the webcast. It will not be possible to ask questions or make presentations and/or cast votes during the process.

Before commencement of the proceedings of the Annual General Meeting, coffee/tea etc. will be served from 1.30 p.m.

Silkeborg, 26 February 2025

The Supervisory Board

Attachment

AGM Notice 2025

The MIL Network –

February 26, 2025

MIL-OSI USA: Grassley Pushes for Answers on UnitedHealth Group’s Medicare Advantage Billing Practices
US Senate News:
Source: United States Senator for Iowa Chuck Grassley

Read more from the Wall Street Journal HERE

WASHINGTON – Sen. Chuck Grassley (R-Iowa), Chairman of the Senate Judiciary Committee and a former Chairman of the Senate Finance Committee, sent a letter to UnitedHealth Group Chief Executive Officer Andrew Witty demanding detailed information on the company’s Medicare billing practices.

Grassley’s letter cited reports of apparent fraud, waste and abuse at UnitedHealth Group, including efforts to diagnose enrollees with obscure revenue-generating diagnoses that were irrelevant or inaccurate. According to reporting, this resulted in $8.7 billion in extra payments in 2021 alone.

“Despite these oversight efforts, [Medicare Advantage Organizations] continue to defraud the American taxpayer, costing them billions of dollars a year … The apparent fraud, waste, and abuse at issue is simply unacceptable and harms not only Medicare beneficiaries, but also the American taxpayer,” Grassley wrote.

In the letter, Grassley requested UnitedHealth provide its training manuals, guidance documents, compliance program details, audit results and other documents.

Since 2015, Grassley has pressed the Centers for Medicare & Medicaid Services and the Department of Justice to recover improper payments made to Medicare Advantage Organizations, including UnitedHealth Group.

Text of the letter to UnitedHealth Group follows:

February 24, 2025

VIA ELECTRONIC TRANSMISSION

Mr. Andrew Witty

Chief Executive Officer

UnitedHealth Group, Inc.

Dear Mr. Witty:

Twenty-five years ago, I helped shepherd Medicare Part C into law, and I have repeatedly advocated for the program.^[1] Further, since 2015, I have pressed the Centers for Medicare & Medicaid Services (CMS) and the Department of Justice (DOJ) to recover improper payments made to Medicare Advantage Organizations (MAO), including UnitedHealth Group.^[2] Despite these oversight efforts, MAOs continue to defraud the American taxpayer, costing them billions of dollars a year.^[3]

On February 21, 2025, the Wall Street Journal published an article titled, “DOJ Investigates Medicare Billing Practices at UnitedHealth,” which reported that the DOJ launched an investigation into UnitedHealth Group’s Medicare billing practices.^[4] According to the Journal, UnitedHealth Group used in-home health risk assessments (HRA) and chart reviews to diagnose enrollees with obscure revenue-generating diagnoses that were irrelevant or inaccurate.^[5] Further, according to the reporting, the inappropriate diagnoses resulted in extra payments of $8.7 billion in just 2021.^[6]

On October 24, 2024, the Health and Human Services Office of Inspector General (HHS OIG) released a report titled, Medicare Advantage: Questionable Use of Health Risk Assessments Continues To Drive Up Payments to Plans by Billions.^[7] The HHS OIG found that UnitedHealth Group received more money from CMS for diagnoses only made during in-home HRAs and chart reviews than any other MAO.^[8] The OIG, which reviewed all MAO enrollees, noted that, “the lack of any other follow-up visits, procedures, tests, or supplies for these diagnoses…raises concerns that either: (1) the diagnoses are inaccurate and thus the payments are improper or (2) enrollees did not receive needed care for serious conditions reported only on HRAs or HRA-linked chart reviews.”^[9] In this context, UnitedHealth Group benefited financially more than any other MAO, which raises serious questions about its practices. The apparent fraud, waste, and abuse at issue is simply unacceptable and harms not only Medicare beneficiaries, but also the American taxpayer.

For Congress and the American public to better understand UnitedHealth Group’s billing practices, please provide answers to the following questions no later than March 10, 2025:
1. What steps has UnitedHealth Group taken to review all diagnoses submitted to CMS for its Medicare Advantage enrollees (“enrollees”) that were identified only by HRAs or chart reviews (either manual or artificial intelligence) and to identify all submitted diagnoses that are obscure, irrelevant, or inaccurate? Quantify the number and amount of inappropriate payments identified as a result of these actions. Provide all records.^[10]
1. Provide all records that relate to the compliance program that UnitedHealth Group had in place from 2019-2024 to monitor the accuracy and appropriateness of the diagnosis codes submitted to CMS for enrollees, including the design and results of all audits conducted.
1. Provide all training manuals and guidance documents for conducting HRAs and manual chart reviews, a list of all software used during the course of an HRA and a manual chart review, and the logic rules for all electronic decision support tools embedded in the software. Does UnitedHealth Group use artificial intelligence to conduct the aforementioned processes? Are all diagnoses identified by artificial intelligence confirmed by a trained medical record reviewer?
1. Provide all policies and procedures for obtaining diagnostic confirmation from an enrollee’s primary care provider and ensuring the receipt of treatment for a new diagnosis identified by an HRA or a chart review. Provide all documentation related to compliance audits of this process.
Thank you for your prompt review and response. If you have any questions, please contact Tucker Akin with my Committee staff at (202) 224-5225.

Sincerely,

Charles E. Grassley

Chairman

Committee on the Judiciary

-30-

[1] Thomas Oliver, Philip Lee, and Helene Lipton, A Political History of Medicare and Prescription Drug Coverage, The Millbank Quarterly (June 2004), https://pmc.ncbi.nlm.nih.gov/articles/PMC2690175/; Webpage, Cuts to the Medicare Advantage Program, Off. of Senator Charles E. Grassley (Feb. 27, 2014), https://www.grassley.senate.gov/news/video/watch/cuts-to-the-medicare-advantage-program; Letter from Senator Charles E. Grassley, Chairman, Senate Comm. on Finance, to Seema Verna, Administrator, Cntrs. for Medicare & Medicaid Srvcs. (Mar. 29, 2019), https://www.finance.senate.gov/imo/media/doc/03292019%20Medicare%20Advantage%20Letter.pdf.

[2] Letter from Senator Charles E. Grassley, Ranking Member, Senate Comm. on the Budget, to Chiquita Brooks-LaSure, Administrator, Cntrs. for Medicare & Medicaid Srvcs. (Dec. 16, 2024), https://www.grassley.senate.gov/imo/media/doc/grassley_to_cms_-_radv_final_rule.pdf;

Letter from Senator Charles E. Grassley, Chairman, Senate Comm. on the Judiciary, to Seema Verna, Administrator, Cntrs. for Medicare & Medicaid Srvcs. (Apr. 17, 2017), https://www.grassley.senate.gov/imo/media/doc/2017-04-17%20CEG%20to%20CMS%20(Risk%20Score%20Follow%20Up).pdf; Letter from Senator Charles E. Grassley, Chairman, Senate Comm. on the Judiciary, to Andrew Slavitt, Administrator, Cntrs. for Medicare & Medicaid Srvcs. (May 19, 2015), https://media.npr.org/documents/2015/may/grassley_cms.pdf; Letter from Senator Charles E. Grassley, Chairman, Senate Comm. on the Judiciary, to Loretta Lynch, Attorney General, Dept. of Justice (May 19, 2015), https://media.npr.org/documents/2015/may/grassley_doj.pdf.

[3] Medicare Advantage Provider Independent Health to Pay Up To $98M to Settle False Claims Act Suit, Dept. of Justice (Dec. 20, 2024), https://www.justice.gov/archives/opa/pr/medicare-advantage-provider-independent-health-pay-98m-settle-false-claims-act-suit; Oak Street Health Agrees to Pay $60M to Resolve Alleged False Claims Act Liability for Paying Kickbacks to Insurance Agents in Medicare Advantage Recruitment Scheme, Dept. of Justice (Sep. 18, 2024), https://www.justice.gov/archives/opa/pr/oak-street-health-agrees-pay-60m-resolve-alleged-false-claims-act-liability-paying-kickbacks.

[4] Christopher Weaver and Anna Wilde Mathews, DOJ Investigates Medicare Billing Practices at UnitedHealth, The Wall Street Journal (Feb. 21, 2025), https://www.wsj.com/health/healthcare/unitedhealth-medicare-doj-diagnosis-investigation-66b9f1db?msockid=1979114121c76140288a04d6207560b1.

[5] Id.; Christopher Weaver, Anna Wilde Mathews, and Tom McGinty, UnitedHealth’s Army of Doctors Helped It Collect Billions More From Medicare, The Wall Street Journal (Dec. 29, 2024), https://www.wsj.com/health/healthcare/unitedhealth-medicare-payments-doctors-c2a343db?msockid=1979114121c76140288a04d6207560b1; Anna Wilde Mathews et al., The One-Hour Nurse Visits That Let Insurers Collect $15 Billion From Medicare, The Wall Street Journal (Aug. 4, 2024), https://www.wsj.com/health/healthcare/medicare-extra-payments-home-visits-diagnosis-057dca8b?msockid=1979114121c76140288a04d6207560b1; Christopher Weaver et al., Insurers Pocketed $50 Billion From Medicare for Diseases No Doctor Treated, The Wall Street Journal (July 8, 2024), https://www.wsj.com/health/healthcare/medicare-health-insurance-diagnosis-payments-b4d99a5d?msockid=1979114121c76140288a04d6207560b1.

[6] Weaver & Mathews, supra note 4.

[7] U.S. Dep’t of Health and Human Services, Office of Inspector General, Medicare Advantage: Questionable Use of Health Risk Assessments Continues To Drive Up Payments to Plans by Billions, OEI-03-23-00380 (Oct. 24, 2024), https://oig.hhs.gov/documents/evaluation/10028/OEI-03-23-00380.pdf.

[8] Id.

[9] Id.

[10] Records” include any written, recorded, or graphic material of any kind, including letters, memoranda, reports, notes, electronic data (e-mails, email attachments, and any other electronically-created or stored information), calendar entries, inter-office communications, meeting minutes, phone/voice mail or recordings/records of verbal communications, and drafts (whether or not they resulted in final documents).
MIL OSI USA News –
February 26, 2025
MIL-OSI Asia-Pac: $1b set aside for AI R&D institute

Source: Hong Kong Information Services

In his 2025-26 Budget Speech this morning, Financial Secretary Paul Chan outlined that Hong Kong is committed to cultivating new quality productive forces in accordance with national strategies, and to leveraging the economic potential of innovation and technology (I&T), including the development and adoption of artificial intelligence (AI).

In particular, he announced that a Hong Kong AI Research and Development Institute will be set up to promote the application of research outcomes.

Mr Chan highlighted that the Government will strive both to develop AI as a core industry and to empower traditional industries to upgrade and transform through AI adoption.

Announcing that $1 billion has been set aside for the establishment of a Hong Kong AI Research and Development Institute, he explained that it will spearhead both research and development (R&D) and industrial applications of AI, with the Digital Policy Office being given responsibility for the institute’s formulation.

Mr Chan also reported that computing power at Cyberport’s AI Supercomputing Centre is on schedule to reach 3,000 petaFLOPS this year, and that two pilot lines at the Hong Kong Microelectronics Research & Development Institute will begin operating at the Microelectronics Centre in Yuen Long next year.

To boost Hong Kong’s international standing in the industry, the finance chief revealed that the Hong Kong Investment Corporation will host the first International Young Scientist Forum on Artificial Intelligence, and the first International Conference on Embodied AI Robots.

In addition, he said the Hong Kong Exchanges & Clearing, with support from the Securities & Futures Commission, will take forward the establishment of a dedicated “technology enterprises channel” to help specialist technology and biotechnology companies, especially those listed in the Mainland, raise funds and expand their business. Meanwhile, the Government will review tax deduction arrangements for various expenditures incurred by firms in obtaining intellectual property rights.

Mr Chan reported that the Government’s New Industrialisation Funding Scheme has now part-funded the setting up of more than 100 new smart production lines by local manufacturing enterprises across industries ranging from biotechnology and nanofibre materials to new energy. Additionally, the New Industrialisation Acceleration Scheme, launched in September to help firms build smart production facilities, recently approved its first project, awarding $200 million to an enterprise in the life and health technology sector.

Complementing these initiatives, Mr Chan said the Government plans to launch a two-year Pilot Manufacturing & Production Line Upgrade Support Scheme this year, and has earmarked $100 million for it. The scheme will provide funding of up to $250,000 to enterprises, on a one-to-two matching basis, to support their adoption of advanced production technologies.

The Government will also set up a $10 billion I&T Industry‑Oriented Fund to channel more market capital towards investing in emerging and future industries of strategic importance. It is inviting organisations to submit expressions of interest and aims to seek funding approval from the Legislative Council in the middle of this year.

Moreover, the Government is preparing to launch a $180 million I&T Accelerator Pilot Scheme. It will provide up to $30 million in funding, on a one‑to‑two matching basis, to professional start-up service agencies, with a view to enriching Hong Kong’s I&T start-up ecosystem.

Mr Chan also shared that the Government will invite proposals, imminently, for the establishment of a third InnoHK research cluster, to be focused on advanced manufacturing, materials, energy and sustainable development.

Furthermore, the Financial Secretary said the Commerce & Economic Development Bureau and the Office of the Communications Authority are together exploring a set of streamlined procedures for vetting licence applications for the operation of Low Earth Orbit satellites.

Highlighting that the Shenzhen-Hong Kong-Guangzhou cluster was ranked as the world’s second top science and technology cluster for a fifth consecutive year by the World Intellectual Property Organization (WIPO) in its Global Innovation Index 2024, Mr Chan mentioned that WIPO will hold the launch event for the publication of this year’s index in Hong Kong. He said this underlined the importance of Hong Kong as a core city in the Greater Bay Area and in China’s overall I&T development.

With regard to life and health technology, the finance chief said the Innovation & Technology Commission is inviting local universities to submit proposals to obtain funding to set up life and health technology research institutes. Meanwhile, the Hong Kong Science & Technology Parks Corporation is studying the sector’s demand for manufacturing facilities that comply with the Good Manufacturing Practices.

Mr Chan also revealed that an interdepartmental Working Group on Developing Low‑altitude Economy, established at the end of last year, is examining applications for a first batch of Regulatory Sandbox pilot projects and will announce the results soon. In addition, the Government is reviewing the regulatory regime in relation to Hong Kong’s low‑altitude economy and plans to introduce amendments to the Small Unmanned Aircraft Order in the second quarter of this year. It will also consider enacting legislation with regard to Advanced Air Mobility.

The Financial Secretary pledged that the Government will provide more support for local technology companies to promote their products. For example, the Hong Kong Trade Development Council will add a thematic pop-up display area at the Hong Kong Design Gallery, and at venues hosting major exhibitions, to showcase local I&T products.

MIL OSI Asia Pacific News –

February 26, 2025
MIL-OSI Australia: Boosting Australia’s economic ties with India

Source: Minister for Trade

The Albanese Government has today launched A New Roadmap for Australia’s Economic Engagement with India, to maximise Australia’s trade opportunities, benefit our businesses and consumers, secure our supply chains, and create jobs.

India’s economy is on track to be the world’s third largest by 2030, and Australia is working to realise the enormous trade and investment opportunities that come with this.

The Roadmap sets out a pathway to focus our ongoing efforts, including to boost two-way investment, and work with Indian-Australian communities and businesses. It identifies four ‘superhighways of growth’ in sectors where we have natural strengths and a competitive edge: clean energy, education and skills, agribusiness, and tourism.

It also identifies nearly 50 specific opportunities to focus and accelerate our engagement across fields such as defence industries, sports, culture, space, and technology.

To help kick start this ambitious plan, we are investing $16 million for a Australia-India Trade and Investment Accelerator Fund, which will help Australian business unlock new commercial opportunities in India.

We are also investing an extra $4 million for our Maitri (‘friendship’) Grants program, enhancing our people-to-people, business-to-business and cultural links.

Our free trade agreement with India, has saved Australian businesses hundreds of millions of dollars and is on track to save exporters around $2 billion in tariffs by the end of the year.

The savings are having a direct impact for Australians, reducing costs at the checkout and creating local jobs.

Australia continues to make progress in its negotiations with India on a new free trade agreement, which will unlock even more trade opportunities for Australian business.

The Roadmap is informed by over 400 consultations across every state and territory, as well as in India.

Imagery will be available from Department of Foreign Affairs and Trade Media Library, and a live stream of remarks on Department of Foreign Affairs and Trade Youtube channel.

Quotes attributable to the Prime Minister Anthony Albanese:

“India is an essential partner as we diversify our trade links to boost prosperity for all Australians.

“This Roadmap is critical to helping us fully realise our potential with India, which will be a boon to Australia’s economy, our businesses and jobs, and our prosperity”

Quotes attributable to Minister for Foreign Affairs, Senator Penny Wong:

“Growing Australia’s economic security and diversifying our partnerships is a key element of our statecraft and central to our national interest.

“By boosting our economic ties with India, we are not only creating more jobs and opportunities for Australians, we are advancing our shared interest in a peaceful, stable and prosperous Indo-Pacific”

Quotes attributable to Minister for Trade and Tourism, Senator Don Farrell:

“Australia has a rich and diverse Indian community, with strong personal and economic ties.

“The potential of our relationship with India is almost unmatched, opening a fast growing market of over 1.4 billion people.

“The Roadmap, the result of significant consultation with businesses and the community, offers a blueprint for Australian businesses to seize this extraordinary opportunity”

MIL OSI News –

February 26, 2025
MIL-OSI Video: Opening Session of the Finance Ministers and Central Bank Governors meeting

Source: Republic of South Africa (video statements-2)

President Cyril Ramaphosa addresses the Opening Session of the Finance Ministers and Central Bank Governors Meeting

https://www.youtube.com/watch?v=22PG3-6ZLoA

MIL OSI Video –

February 26, 2025
MIL-OSI Asia-Pac: HK to gain more strategic enterprises

Source: Hong Kong Information Services

While unveiling his Budget speech today, Financial Secretary Paul Chan highlighted the bold steps the Government is taking to strengthen Hong Kong’s foundation with the aim of accelerating the city’s development.

He explained that Hong Kong’s economy has recorded moderate growth for two consecutive years as the Government has been active in promoting innovation and technology (I&T) development, while striving to attract more enterprises, capital and investment institutions through diversified business promotion activities.

He pointed out that the Government’s efforts to build a vibrant economy and compete for enterprises and talent have yielded considerable results, including the city’s buoyant stock market.

Mr Chan said: “The sentiment and trading performance of the local stock market improved last year. Since the beginning of this year, trading has been even more active, with average daily turnover exceeding $200 billion recently, up by more than 50% over last year’s average. Total market capitalisation reached $40 trillion.”

When it comes to vibrant initial public offering (IPO) activities, he emphasised that enterprises are increasingly confident about Hong Kong’s financing prospects.

“Funds raised from new listings in Hong Kong amounted to $88 billion last year, a year-on-year increase of nearly 90% and ranking fourth globally. Over 100 new IPO applications are being processed by the Hong Kong Exchanges & Clearing.”

In addition to noting that Hong Kong’s expertise in wealth management is excellent, Mr Chan underlined that the city is expected to become the world’s largest cross‑boundary wealth management centre by 2028.

“Hong Kong is Asia’s largest hedge‑fund centre and the second‑largest centre for private equity management after the Mainland. There are more than 470 open‑ended fund companies in Hong Kong, double that of a year ago, and over 1,050 registered limited partnership funds, a year‑on‑year increase of about 40%.”

Additionally, Hong Kong is poised to attract enterprises, capital and talent on all fronts, the Financial Secretary said.

“Since its establishment, the Office for Attracting Strategic Enterprises (OASES) has attracted 66 strategic enterprises, 80% of which have established or planned to establish their global or regional headquarters in Hong Kong. Many are I&T enterprises with a market valuation of over $10 billion and engaging in cutting-edge technologies.

“In addition, Invest Hong Kong successfully attracted over 500 Mainland and overseas enterprises to set up or expand their businesses in Hong Kong last year, representing an increase of over 40%. These enterprises are expected to bring in direct investment of over $67.7 billion.”

When it comes to attracting capital, Mr Chan revealed that at the end of last year, total deposits in Hong Kong amounted to more than $17 trillion, a year‑on‑year increase of 7%. As for attracting capital from emerging markets, two exchange-traded funds tracking Hong Kong stocks were listed on the Saudi Exchange last year, with asset size exceeding $13 billion.

The Government is also making a concerted effort to trawl for talent, he added.

“As at the end of last year, various talent admission schemes have received a total of over 430,000 applications and approved more than 270,000, bringing some 180,000 talents to Hong Kong.”

The Financial Secretary highlighted five examples of how the Government is proactively introducing additional measures to attract more enterprises or organisations to establish their presence in Hong Kong, bringing more mega events and visitors to the city.

OASES will announce a new batch of more than ten strategic enterprises next month. Together with those previously announced, they will invest a total of about $50 billion in Hong Kong and create more than 20,000 jobs over the next few years.

Mr Chan stated that the Government will strive to attract enterprises from the Mainland and around the world to set up headquarters or corporate divisions in Hong Kong.

“We have submitted a bill to the Legislative Council (LegCo) for the introduction of a company re‑domiciliation mechanism to provide facilitation for companies domiciled overseas to re‑domicile in Hong Kong.”

Furthermore, he announced that the headquarters of the International Organization for Mediation (IOMed) will open by the end of this year at the earliest.

“As the first international inter‑governmental organisation to set up its headquarters in Hong Kong, IOMed is also the first of its kind in the world that specialises in resolving international disputes by means of mediation. It is conducive to affirming the positioning of Hong Kong as the capital for international mediation.”

Another fine example is Kai Tak Sports Park, which is set to open officially in three days. In addition to providing a world‑class venue for hosting international mega events, taking forward the development of culture, sports and tourism as an industry in Hong Kong, it is also one of the event venues of the National Games.

Moreover, Mr Chan indicated that the World Tourism Cities Federation (WTCF)’s 2025 WTCF Fragrant Hills Tourism Summit will be held in Hong Kong for the first time in April. The summit is expected to attract representatives from some 40 countries and regions.

MIL OSI Asia Pacific News –

February 26, 2025
MIL-OSI Russia: Developments by enterprises of the Technopolis Moscow SEZ have won grants from the Russian Science Foundation

Translartion. Region: Russians Fedetion –

Source: Moscow Government – Government of Moscow –

Developments by enterprises of the special economic zone (SEZ) Technopolis Moscow have won grants from the Russian Science Foundation (RSF) in the field of Microelectronics. Seven companies of the SEZ Technopolis Moscow presented projects in the field of microelectronics. This was reported by the Minister of the Moscow Government, head of the capital’s Department of Investment and Industrial Policy Anatoly Garbuzov.

“The Technopolis Moscow Special Economic Zone is a center for the development of high technologies. Here, companies create unique and innovative products that have no analogues either in Russia or in the world. Seven Moscow enterprises became winners of the competition held by the Russian Science Foundation. They presented 10 scientific and scientific-technical projects. According to the terms of the competition, the foundation will conclude agreements on further cooperation with the winners. At the next stage, contractors will be selected for the work on proposals that will be financed by the RSF. The projects must be implemented within three years,” said Anatoly Garbuzov.

The Russian Science Foundation allocates grants for fundamental research and supports applied developments within the framework of strategic initiatives defined by the President of Russia. According to Deputy Chairman of the Scientific and Technological Council of the Russian Science Foundation, Doctor of Technical Sciences Sergey Gavrilov, one of the criteria for assessing the results of scientific activity can be the level of science intensity and demand for products manufactured by enterprises of the Technopolis Moscow SEZ. According to this indicator, companies based in the Technopolis Moscow SEZ occupy leading positions in their fields, he added. They become winners of the RSF competitions, which confirms the high scientific level of research and development of companies. Subsequent implementation of scientific and technical projects on selected technological proposals will make a breakthrough in the development of the radio-electronic industry and raise it to a new level of competence and capabilities.

“The development and implementation of these proposals will allow Russia to achieve technological sovereignty in the field of microelectronics. In addition, the active replacement of foreign software and equipment allows companies to increase their profits,” emphasized Gennady Degtyarev, General Director of the Technopolis Moscow SEZ.

For example, the Elta company, one of the winners of the competition, proposed the development of silicon CMOS photodetectors and an optoelectronic unit for the rapid determination of glycated hemoglobin in the blood. As General Director Yuri Glukhov noted, today in Russia they produce devices that analyze it and are necessary for monitoring and screening in clinics to detect diabetes or prediabetes. The development of an optoelectronic unit for the creation of a domestic portable medical analyzer will allow for the import substitution of such medical equipment.

Another resident of the Technopolis Moscow SEZ, the Research Institute of Molecular Electronics, presented a project to create domestically produced ultra-pure materials for the microelectronics industry. As noted by General Director Alexander Kravtsov, precursors (organometallic compounds) will be used to develop structures for ferroelectric and resistive memory, as well as to form a gate dielectric in transistors of a topological level of 45 nanometers and less.

In addition, the winners of the RSF competition included such companies as NM-Tech, Epiel, Proton Plant, Zelenograd Nanotechnology Center, and Lassard.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

https: //vv.mos.ru/nevs/ite/150522073/

MIL OSI Russia News –

February 26, 2025
MIL-OSI Russia: The city has put eight premises in the Basmanny district up for auction

Translartion. Region: Russians Fedetion –

Source: Moscow Government – Government of Moscow –

Eight commercial properties free-use in the Basmanny District was put up for auction. This was reported by the head of the capital’s Department of Competition Policy Kirill Purtov.

“Real estate in the center of the capital is especially in demand among investors, as it allows doing business in areas with high traffic and good business and tourist activity. Premises with an area of 37.5 to 409.9 square meters have a flexible purpose and are suitable for implementing various business projects. Application campaigns for them will end between March 4 and 26. Bidding will begin on March 13 and will last until April 4, depending on the selected lot,” said Kirill Purtov.

The premises are located in residential buildings and office buildings. Seven of them are located on Zemlyanoy Val, Myasnitskaya, Novaya Basmannaya streets and on Chistoprudny Boulevard, they are connected to electricity, water supply and sewerage. The premises on Armyansky Lane are connected only to electricity.

To participate in the auction, you will need registration on the Roseltorg platform and an enhanced qualified electronic signature. The organizer of the auction is Moscow City Department of Competition Policy.

Moscow is a city that develops entrepreneurship. The capital puts various properties up for auction, and the showcase of the offered objects is Moscow Investment Portal. More than 400 non-residential premises and buildings are currently available to investors. In the section “Property from the city” All necessary information about the lots is published: photographs, documentation, conditions and form of implementation. Here you can also take a 3D tour of the objects. Participating in city auctions is convenient – the entire procedure takes place online.

Development of electronic services for business corresponds to the objectives of the national project “Data Economy and Digital Transformation of the State” and the regional project of the city of Moscow “Digital Public Administration”.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

https: //vv.mos.ru/nevs/ite/150565073/

MIL OSI Russia News –

February 26, 2025
MIL-Evening Report: Your super fund is invested in private markets. What are they and why has ASIC raised concerns?
Source: The Conversation (Au and NZ) – By Mark Melatos, Associate Professor of Economics, University of Sydney

If you are a member of a super fund, some of your long-term savings are probably invested in private markets.

Public markets are familiar to most of us – the stock market and government and corporate bond markets. Private markets include unlisted assets such as companies owned by private equity firms, infrastructure investments and private credit markets.

Corporate watchdog the Australian Securities and Investments Commission (ASIC), has today released a discussion paper that emphasises the growth in private capital, seemingly at the expense of public markets. While the number of listed companies and the value of initial public offerings has shrunk, private equity and infrastructure funds have boomed.

Should we be worried about this?

Public vs private markets

Public markets tend to be transparent, tightly regulated and liquid. Companies listed on the stock exchange publish their financial accounts, hold annual general meetings and their shares can be readily traded.

In contrast, private markets are lightly regulated. Private capital investments are more opaque, less liquid and, hence, more risky. But they can deliver much higher returns (or losses).

Often, obtaining capital from private sources makes sense. For example, entrepreneurs whose startup firms are short of revenue, profit and tangible assets are unlikely to be able to raise capital in public markets, or from banks. Instead, they turn to private equity firms for funding.

What are the concerns?

In its report, ASIC raises several concerns:
- the shrinking of Australia’s public equity markets might hurt the economy
- the rise of private markets may create new or amplified risks
- the lack of transparency of private markets poses a challenge for investors and regulators.
Public markets play an important role connecting investors with companies seeking capital. The shrinking of public markets, therefore, has important economic implications. Will private markets be able to pick up the slack?

Notwithstanding the growth in private capital markets, they are still small compared to their public counterparts. The total capitalisation of the Australian Stock Exchange (ASX) is $3 trillion. Total private capital funds under management are only $150 billion.

The lack of disclosures in private capital markets might also create more and different risks for financial markets and the economy; risks that regulators may not understand, nor know how to anticipate or effectively mitigate.

The role of Australian super funds

ASIC is concerned about the implications for the superannuation industry of the growth of private capital markets and decline in public markets.

Australia’s superannuation assets now total $4.1 trillion, greater than the value of Australia’s GDP and more than the total value of all companies listed on the ASX. Anything that alters the playing field for Australian super has the potential to create outsized risk (or opportunity) for the Australian economy.

The ASIC report highlights the growing involvement of Australia’s superannuation funds in private markets. Australia’s two largest super funds, Australian Super and Australian Retirement Trust, each have about 20% of their total funds invested in private markets.

The fact is that Australia’s superannuation sector has outgrown Australian public markets. They cannot trade shares on the ASX without moving share prices significantly to their detriment. On the other hand, having super funds, which are highly regulated to protect member savings, investing in unregulated private capital markets is jarring, if not potentially risky.

Having said this, the size of Australia’s super funds means they can set the terms and price at which they invest. This power is most valuable in private deals; less so in public markets where a company’s stock price and its financial accounts are public knowledge.

Increasingly, super funds directly invest in infrastructure projects such as ports and airports rather than buy shares in listed infrastructure firms.

What’s behind the shift in markets?

The ASIC report points the finger at the usual culprits for the shift from public to private capital markets, including the regulatory burden on public companies and the rise of technology companies that prefer to tap private capital.

However, another problem is bedevilling policymakers everywhere: too much capital is chasing too few profitable investment opportunities. Companies have lots of cash on their books and nothing to spend it on.

Increasingly, such companies have resorted to share buybacks (reducing the number of their shares on issue) to reward investors in a tax-effective way. A lot of the shrinkage in public equity is due to share buybacks that in 2022 alone totalled US$1.3 trillion.

Why does all this matter?

The ASIC report is notable for what it does not say; nothing, for example, on its own chequered history of investigative and enforcement action.

The growing importance of opaque private markets matters more if regulators are asleep at the wheel. ASIC’s tendency for weak oversight and sclerotic enforcement can hardly have raised investor confidence in Australia’s public capital markets.

Its oversight of initial public offerings (IPOs) has also been questionable over a long period. How can ASIC be expected to adequately manage complex private capital market risks given its woeful performance managing simpler public market risks?

The apparent decline of public markets has been spooking even sophisticated private financial market players – including, most notably, Jamie Dimon, CEO of JP Morgan. If Dimon is concerned, then ASIC – and all of us – should probably also be concerned.

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

– ref. Your super fund is invested in private markets. What are they and why has ASIC raised concerns? – https://theconversation.com/your-super-fund-is-invested-in-private-markets-what-are-they-and-why-has-asic-raised-concerns-250788
MIL OSI Analysis – EveningReport.nz –
February 26, 2025
MIL-OSI New Zealand: Co-Leaders announce plans to launch Green Budget this year

Source: Green Party

Green Party Co-Leaders Marama Davidson and Chlöe Swarbrick have announced the party’s plans to deliver a Green Budget this year to offer an alternative vision to the Government’s trickle-down economics and austerity politics.

“New Zealanders care about each other and the planet we live on. Our Green Budget will lay out the plan for an economy that respects and protects those things, instead of exhausting and exploiting both,” says Green Party co-leader and spokesperson for Finance Chlöe Swarbrick.

“Poverty, and all the social ills that stem from it, doesn’t come from nowhere. It comes from a tolerance of extreme inequality. It comes from the privatisation of profit and the socialisation of cost.

“In December, we released He Ara Anamata, our Emissions Reduction Plan, which showed how we could reduce emissions five times faster than the Government’s proposed ‘plan’. It showed we can not only reduce the cost of living, but increase quality of life.

“Our Green Budget will build on that to continue to show precisely how a different world is possible, and entirely within our reach,” says Chlöe Swarbrick.

“More and more tamariki continue to fall through the cracks and live below the poverty line, as a result of this Government’s choices; the choices to gut housing for our most vulnerable, to gut school lunches, to gut our health system and put growing pressure on our health workers,” says Marama Davidson.

“We all depend on each other when times are rough. People want to care for each other – manaakitanga is part of human nature. This is the core value that will underpin our Green Budget.

“Our mokopuna deserve better, and we can deliver better by channelling community power and finally putting people and planet ahead of profit,” says Marama Davidson.

MIL OSI New Zealand News –

February 26, 2025
MIL-OSI Security: North Bay Man Pleads Guilty To Aggravated Sexual Abuse Of Victim In Marin Headlands

Source: Office of United States Attorneys

SAN FRANCISCO – Esbin Ramirez-Garcia, 28, of Rohnert Park, pleaded guilty today to aggravated sexual abuse of a victim while in the Marin Headlands.

Defendant was indicted by a federal grand jury on Aug. 22, 2024, on one count of aggravated sexual abuse in violation of 18 U.S.C. § 2241(a). In pleading guilty, Ramirez-Garcia admitted that late in the evening on Aug. 2, 2024, while giving the victim, with whom he had a prior relationship, a ride from her workplace in his truck, he asked her to get back together with him. Ramirez-Garcia and the victim got into an argument and she refused to resume their relationship. Defendant deviated from the route to the victim’s home. The victim asked to be let out of the vehicle, but Ramirez-Garcia grabbed her with his hand and continued driving, forcing her to accompany him.

According to the plea agreement, Ramirez-Garcia then drove his truck to a parking lot in the Marin Headlands, which is part of the Golden Gate National Recreation Area, and parked just after midnight. Ramirez-Garcia admitted that he forcibly placed his body on top of the victim’s body while she sat in the passenger seat and sexually assaulted her.

Acting United States Attorney Patrick D. Robbins, FBI Acting Special Agent in Charge Dan Costin, and National Park Service Investigative Services Branch Acting Special Agent in Charge Betsy Smith made the announcement.

Defendant has been in custody since August 2024. Ramirez-Garcia’s sentencing is scheduled for May 28, 2025, before Senior U.S. District Judge William Alsup. Defendant faces a statutory maximum of life in prison and a $250,000 fine. Any sentence will be imposed by the court only after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.

Special Assistant U.S. Attorney Christine Chen and Assistant U.S. Attorney E. Wistar Wilson are prosecuting this case with the assistance of Sara Slattery, Maureen French, and Fernanda Gonzalez. This prosecution is the result of an investigation by the FBI and the National Park Service Investigative Services Branch.

MIL Security OSI –

February 26, 2025
MIL-OSI USA: Cassidy Applauds Implementation of Social Security Fairness Act

US Senate News:

Source: United States Senator for Louisiana Bill Cassidy
WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA) applauded the announcement by the U.S. Social Security Administration (SSA) that the over 3 million American public servants hurt by the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) will immediately begin receiving Social Security benefit increases and retroactive payments. This follows the passage of the Social Security Fairness Act, which fully repeals the two unfair Social Security provisions, WEP and GPO, and was signed into law on January 5, 2024, after Cassidy successfully secured a vote on the Senate floor. Earlier this month, Cassidy urged the SSA to move quickly to implement the new law.
“Police officers, teachers, nurses, and other state and local public servants across Louisiana will finally receive the correct Social Security payments,” said Dr. Cassidy. “These folks have waited years for this day. The fight took too long, but let’s focus on the victory.”
SSA will begin depositing retroactive payments into bank accounts on Tuesday, February 25, 2025, and complete nearly all retroactive payments by the end of March. Adjustments to ongoing monthly benefits will begin in April.
Before the passage of the Social Security Fairness Act, around 94,000 Louisianans were unfairly penalized by WEP and GPO. WEP was enacted in 1983 and reduces the Social Security benefits of workers who receive pensions from a federal, state, or local government for employment not covered by Social Security. GPO was enacted in 1977 and reduces Social Security spousal benefits for spouses, widows, and widowers whose spouses receive pensions from a federal, state, or local government.
Background:
Cassidy played a pivotal role in getting the Social Security Fairness Act signed into law on January 5, 2025. Cassidy successfully demanded a vote on the Social Security Fairness Act. In July and again in December, Cassidy spoke on the U.S. Senate floor urging Congress to repeal WEP and GPO as part of his “Big Idea” to save, strengthen, and secure America’s retirement system. In June, Cassidy entered a statement into the record urging the repeal of WEP and GPO ahead of the U.S. Senate Finance Subcommittee field hearing on Social Security.
Cassidy is a long-time cosponsor of the Social Security Fairness Act in the Senate, being an original cosponsor since he became a Member of Congress in 2009. He led the introduction of the legislation in the 117th and 116th Congress.
Cassidy led a bipartisan working group to preserve and protect Social Security. He released the inaugural Bill on the Hill video where he asked Capitol Hill visitors from across the country their thoughts on the looming benefit cuts to Social Security and presented his “Big Idea.”
Last March, Cassidy grilled U.S. Treasury Secretary Janet Yellen on President Biden’s plan to address Social Security, to which Secretary Yellen admitted “the president doesn’t have a plan,” to save Social Security.
Cassidy has discussed the “Big Idea” at a public forum with AARP on the future of Social Security, outlined his Social Security plan in a fireside chat with the Bipartisan Policy Committee, and authored op-eds in the Washington Examiner in July, the Wall Street Journal in March, and State Affairs and Washington Post in May.

MIL OSI USA News –

February 26, 2025
MIL-OSI: SiriusPoint Announces Pricing of Secondary Offering of 4,106,631 Common Shares by Entities Associated with Daniel S. Loeb and Repurchase of 500,000 Shares by SiriusPoint

Source: GlobeNewswire (MIL-OSI)

HAMILTON, Bermuda, Feb. 25, 2025 (GLOBE NEWSWIRE) — SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT) today announced the pricing of its previously announced registered secondary offering by entities associated with Daniel S. Loeb (colllectively, the “Loeb Entities”) of an aggregate of 4,106,631 common shares at a price to the public of $14.00 per share. The offering is expected to close on February 27, 2025, subject to the satisfaction of customary closing conditions.

SiriusPoint has agreed to repurchase an aggregate of 500,000 of the common shares being offered in the offering at the public offering price. SiriusPoint will cancel the 500,000 common shares it repurchases in the offering.

Immediately following the completion of the offering and our previously announced repurchase of all of the common shares and warrants currently held by CM Bermuda, it is expected that the Loeb Entities will own approximately 9.54% of SiriusPoint’s issued and outstanding common shares.

Under the terms of the transaction, the remaining shares owned by the Loeb Entities will be subject to a 90 day lock-up agreement with the sole bookrunning manager.

Jefferies is acting as the sole bookrunning manager for the offering.

The offering is being made only by means of an effective registration statement and a prospectus. The Company has previously filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement (including a prospectus) on Form S-3 (File No. 333-283827), dated December 16, 2024, and a prospectus supplement for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the accompanying prospectus supplement, and other documents the Company has filed with the SEC for more complete information about the Company and this offering. When available, copies of the prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at prospectus_department@jefferies.com. Electronic copies of the prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Contacts
Investor Relations
Liam Blackledge, SiriusPoint
Liam.Blackledge@siriuspt.com
+ 44 203 772 3082
Media
Sarah Hills, Rein4ce
Sarah.Hills@rein4ce.co.uk
+ 44 7718 882011

About SiriusPoint

SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and Program Administrators within our Insurance & Services segment. With over $2.6 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch, and A3 from Moody’s.

FORWARD-LOOKING STATEMENTS

We make statements in this press release that are forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include, but are not limited to, the impact of general economic conditions and conditions affecting the insurance and reinsurance industry; the adequacy of our reserves; fluctuation in the results of operations; pandemic or other catastrophic event; uncertainty of success in investing in early-stage companies, such as the risk of loss of an initial investment, highly variable returns on investments, delay in receiving return on investment and difficulty in liquidating the investment; our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market and investment income fluctuations; trends in insured and paid losses; regulatory and legal uncertainties; and other risk factors described in SiriusPoint’s Annual Report on Form 10-K for the period ended December 31, 2024.

Except as required by applicable law or regulation, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events, or other circumstances after the date of this press release.

The MIL Network –

February 26, 2025
MIL-OSI Australia: Investigation announced into former police officer

Source: Tasmania Police

Investigation announced into former police officer

Wednesday, 26 February 2025 – 12:41 pm.

Media outlets are reminded to be mindful of the following national guidelines when reporting on this matter.https://www.childsafety.gov.au/what-we-do/reporting-child-sexual-abuse-guidance-media-and-victims-and-survivors
Tasmania Police will appoint specialist investigators to examine the conduct of former police officer Dale Cook, with independent oversight from the Integrity Commission.
On Sunday the officer was arrested and charged by the Tasmanian Joint Anti-Child Exploitation Team (JACET), comprising members of Tasmania Police and the Australian Federal Police (AFP).
He was charged with accessing child exploitation material and will next appear in the Launceston Magistrates Court in March 2025.
Following his arrest the officer was stood down from duty effective immediately, and he has since resigned from Tasmania Police.
Today, Commissioner Donna Adams said the Tasmania Police investigation will be run concurrently with the JACET criminal investigation.
“The investigation will be run with independent oversight from the Integrity Commission and will examine his entire career to determine whether there has been any other criminal offending or misconduct during his time with Tasmania Police,” she said.
“If any criminal matters relating to federal law are identified, they will be referred to the AFP.”
“Any criminal matters relating to Tasmanian law will be investigated by Tasmania Police.”
Commissioner Adams recognised the distress caused to the community and those who know the officer facing these allegations, particularly those who have worked alongside him.
“As confronting as it is to see a Tasmania Police officer accused of these crimes, uncovering and exposing this kind of alleged behaviour is how we will continue to fight against the abuse and exploitation of children, and work to keep our children and young people safe.
“The JACET investigation, arrest and laying of charges in this case highlights how our processes are working, and we’ll continue to work alongside our law enforcement partners to stop those who seek to harm our children and young people.
“The behaviour alleged to have taken place is criminal and targets the most vulnerable members of our community – it is a complete breach of the trust placed in this individual personally and professionally,” she said.
“As an organisation, we will continue to make the improvements needed to better protect children and support victim-survivors and ensure the values and behaviour of Tasmania Police meets the high standards expected by the community.”
Commissioner Adams said she continued to encourage anyone with information about child sexual abuse to come forward.
“Every piece of information, no matter how small, can help build a picture for investigators,” she said.
“There are several different options for reporting.”
“People can report directly to police on 131 444, or by visiting a police station. You can also report anonymously to Crime Stoppers on 1800 333 000 or crimestopperstas.com.au.”
“Anyone can report concerns or incidents involving police at our Child and Youth Safe web page: dpfem.tas.gov.au/childsafe or complaints portal: https://www.police.tas.gov.au/about-us/compliments-and-complaints/. Information can be provided anonymously.”
“Matters can also be reported directly to the Integrity Commission or the Office of the Independent Regulator.”
“Support for victim survivors is available through Arch, and people have the choice of reporting this way too – if they want to.”
The Tasmanian Government’s Keeping Children Safe website is available at https://keepingchildrensafe.tas.gov.au/
Support services are available via https://keepingchildrensafe.tas.gov.au/get-support/

MIL OSI News –

February 26, 2025
MIL-Evening Report: Ignore the ‘ivory tower’ clichés – universities are the innovation partners more Kiwi businesses need

Source: The Conversation (Au and NZ) – By Omid Aliasghar, Senior Lecturer, Management and International Business, University of Auckland, Waipapa Taumata Rau

NicoElNino/Shutterstock

When it comes to turning research into real-world success, New Zealand has a problem.

Despite the country’s NZ$3.7 billion research and development spending in 2023 – a 17% jump from the previous year — too many New Zealand businesses fail to commercialise innovation.

According to the World Intellectual Property Organization, New Zealand ranks 21st for innovation inputs. This means we’re good at investing in research and development. But we rank 45th in knowledge outputs and 78th in industry diversification. Essentially, we’re spending more but getting less.

So, what’s holding the country back? In a lot of cases, it can boil down to a lack of collaboration with universities.

Universities are typically focused on generating novel or new-to-the world knowledge, with researchers, cutting-edge technology and deep industry connections.

Working with universities can connect businesses to researchers, government agencies, private industry and global networks. Collaboration can also offer businesses credibility. It signals to investors, partners and customers that they are serious about innovation.

Yet many businesses underestimate their value. They assume collaboration is slow, academic or bureaucratic.

Our study – based on a digital survey of 541 firms across a wide range of industries and regions in New Zealand – looked at whether collaborating with universities could help businesses to bring ideas to market, sell intellectual property and develop technology.

We also considered whether there was a difference in working with international universities versus collaborating with local institutions. While identifying details of the individual businesses were kept confidential, here is what we learned.

The case for foreign university partnerships

Our research found partnering with foreign universities allowed New Zealand businesses to tap into global expertise and advanced research. It also provided access to diverse knowledge networks, where businesses could learn from various real-world applications of scientific knowledge.

For example, a New Zealand business specialising in artificial intelligence (AI) can gain game-changing insights by collaborating with top universities in the United States.

The partnerships can provide access to leading AI models, advanced algorithms, and global industry connections. These partnerships can enable the business to stay ahead in an increasingly competitive market.

Additionally, many universities had well-established technology transfer offices. These had experience in helping businesses commercialise research.

In short, foreign university collaborations opened doors to the world’s best knowledge and technology – critical for firms operating in fast-moving industries.

New Zealand technology businesses have benefited from partnering with universities based in the United States on artificial intelligence projects.
Gorodenkoff/Shutterstock

The strength of local university collaborations

We also found local university collaborations had their own advantages, including
an understanding of New Zealand’s specific challenges, from climate change impact on agriculture to AI adoption in small businesses.

This contextual knowledge made their expertise highly relevant for firms aiming to commercialise innovation within New Zealand’s unique market conditions.

Working with local universities also allowed businesses to build strong, personal relationships with researchers, fostering faster and more effective knowledge exchange.

Unlike foreign partnerships, where interactions may be limited to emails and virtual meetings, local collaborations allowed for regular in-person brainstorming, experimentation and problem solving.

Finally, collaborating with New Zealand’s universities gave businesses access to top local talent, helping them recruit skilled graduates familiar with the domestic market and its needs.

A balanced approach

Investing in research and development alone won’t drive innovation for businesses. Without strategic collaboration, firms risk wasting resources on ideas that never reach the market.

Businesses should take a balanced approach. Foreign university collaborations can offer groundbreaking advances, cutting-edge knowledge and global networks. At the same time, local university collaborations offer accessible knowledge, local expertise and stronger working relationships.

By embracing these partnerships, New Zealand businesses can turn research into commercial success, drive national economic growth, and position themselves as global innovation leaders. The question is no longer if firms should collaborate with universities – it’s how quickly they can start.

This research was completed with Annique Un (Northeastern University), Kazuhiro Asakawa (Keio University), Jarrod Haar (Massey University) and Sihong Wu (University of Auckland).

Omid Aliasghar receives funding support for this research provided by Building New Zealand’s Innovation Capacity Spearhead within the Science for Technological Innovation National Science Challenge.

– ref. Ignore the ‘ivory tower’ clichés – universities are the innovation partners more Kiwi businesses need – https://theconversation.com/ignore-the-ivory-tower-cliches-universities-are-the-innovation-partners-more-kiwi-businesses-need-249129

MIL OSI Analysis – EveningReport.nz –

February 26, 2025
MIL-OSI Security: Oregon Transportation Company and Owner Sentenced to Probation and Criminal Fines for Tampering with Pollution Monitoring Devices

Source: Office of United States Attorneys

PORTLAND, Ore.–A Fairview, Oregon transportation company and its owner were sentenced in federal court today for knowingly and intentionally tampering with emissions monitoring devices in violation of the Clean Air Act.

Clancy Logistics, Inc., located in Fairview, Oregon, and its owner, Timothy Curtis Clancy, 55, of Sherwood, Oregon, were each sentenced to three years’ probation. They were also ordered to pay a fine of $101,510, jointly and severally.

According to court documents, between October 2019 and July 2023, Clancy tampered with federally mandated monitoring devices by performing “deletes and tunes” to emission control systems for at least thirteen diesel semi-trailer trucks operated by his companies. Clancy, as owner of Clancy Logistics, oversaw the illegal modification of vehicles, including engaging in and directing employees to remove the emissions control equipment and tune the onboard diagnostic systems so it could no longer detect the removal of control equipment. Clancy Logistics knowingly operated the altered vehicles.

On September 13, 2024, Clancy Logistics and Clancy were charged by criminal information with two counts of Clean Air Act tampering. On September 18, 2024, they each pleaded guilty to one count of tampering with a monitoring device.

This case was investigated by the Environmental Protection Agency’s Criminal Investigation Division. It was prosecuted by Andrew Ho, Assistant U.S. Attorney for the District of Oregon, and Gwendolyn Russell, Special Assistant U.S. Attorney for the Environmental Protection Agency.

MIL Security OSI –

February 26, 2025
MIL-OSI USA: Padilla Highlights Threats to Election Security, Campaign Finance in First Business Meeting as Rules Committee Ranking Member

US Senate News:

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

Padilla Highlights Threats to Election Security, Campaign Finance in First Business Meeting as Rules Committee Ranking Member

WASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.) joined his first business meeting as Ranking Member of the Senate Committee on Rules and Administration, where he highlighted the importance of free and fair elections, campaign finance reform, and Capitol security. The meeting focused on the committee funding resolution and committee rules for the 119th Congress.

In his remarks, Senator Padilla emphasized that he will continue working to protect the right to vote, secure our elections, safeguard election workers, and push for essential funding to state and local governments for election administration. He called out the Trump Administration for decimating critical election security efforts by disbanding the Federal Bureau of Investigation’s foreign election interference task force, removing election security specialists at the Cybersecurity and Infrastructure Security Agency (CISA), and deploying President Trump and Elon Musk’s Department of Government Efficiency (DOGE) to the agency.

Senator Padilla, California’s former Secretary of State, also underscored Americans’ strong support for curbing the massive influx of dark money and corporate spending in politics, calling the Citizens United decision a “complete disaster.” He blasted President Trump for his recent illegal firing of the Federal Elections Commission Chair and his executive order claiming to bring independent regulatory agencies under the control of the executive branch.

Last week, Senator Padilla and Representative Joe Morelle (D-N.Y.-25) pressed senior officials at the Cybersecurity and Infrastructure Security Agency (CISA) for answers after reports indicated employees who previously worked on election misinformation and disinformation issues were placed on administrative leave. Padilla denounced the illegal firing of FEC Chair Ellen Weintraub and led 10 Democratic Senators to demand President Trump rescind this decision.

Padilla’s full remarks, as prepared for delivery, are available here and below:

Thank you, Chairman McConnell. I look forward to working with you and all the Members of the Rules Committee in this new role as Ranking Member.

I also want to thank Senators Klobuchar and Fischer for their leadership last Congress — including making key security improvements here at the Capitol following the January 6th insurrection.

This Committee has a long history of working across party lines in support of the Senate and the legislative branch. Today I am committed to continuing that tradition with Chairman McConnell.

While the Capitol and Senate buildings may be our workplaces, ultimately, they belong to the American people. Americans spend their time and money — some traveling thousands of miles — to visit and exercise their First Amendment rights. For Americans from states red, blue, and purple, this Capitol means more than politics: it’s the embodiment of our democracy. It is our responsibility to maintain and secure the Capitol for them.

Today’s action on the committee funding resolution for the 119th Congress gives us an early opportunity to come together. And while I wish we were able to provide more funding in certain instances, I am pleased that we worked in a bipartisan fashion on this effort.

But in addition to our responsibilities to the administration of both the buildings and rules that allow this body to run, our Committee also plays a central role in our democracy – overseeing federal elections and campaign finance.

Election Administration

As California’s former Secretary of State, I know the importance of defending free and fair elections. I will always work to preserve voter access, protect election workers, ensure election security, and provide critical funding to the states.

Over the years, Congress has invested resources to help states start to modernize their election systems, but we have failed to provide the reliable funding that is needed. I hope we can find bipartisan consensus to help states and local governments manage the growing challenges of running elections.

Unfortunately, just a few weeks in, the current Administration is taking a blowtorch to election security. Already, the Department of Justice has disbanded the Federal Bureau of Investigation’s foreign election interference task force while the Department of Homeland Security is removing election security specialists at the Cybersecurity & Infrastructure Security Agency (CISA).

And now, President Trump and Elon Musk have sent DOGE’s inexperienced, unqualified staff — with a history of leaking security information and cybercrime — to CISA. Despite our inquiries and DOGE’s claims of transparency, this Committee and the public have no real information about the goals of this interference. And state and local election officials are losing the critical election security support that Congress has directed CISA to provide.

It is my hope that moving forward, members on this committee from both parties will join me in strengthening election security — not weakening it.

Campaign Finance

At the same time, Americans overwhelmingly support efforts to roll back the tide of unregulated and secret money in politics. They are tired of their voices being drowned out by unlimited spending from corporations and billionaires. Yet today, an unelected billionaire who spent over 270 million dollars on the 2024 election sits in the Oval Office, issuing policy directives and accessing federal contracts and regulatory favors.

The Citizens United decision was a complete disaster that continues to damage our democracy and must be repealed. Until then, Congress and the Federal Election Commission (FEC) should uphold the law and improve what we can.

Unfortunately, President Trump is trying to destroy what few guardrails we have left. He illegally fired the Chair of the FEC and issued an Executive Order that gives White House operatives control over the FEC and other independent agencies. Congress created agencies like the FEC to follow the law independent of political pressure — not to be tools for handing out political favors or retribution on behalf of the White House.

The FEC was created over 50 years ago following Watergate. Now, President Trump is opening the floodgates for a new golden age of corruption. As a committee, we must work to stop these power grabs before more damage is done.

Thank you, Mr. Chairman.

MIL OSI USA News –

February 26, 2025
MIL-OSI Security: Texas Woman Pleaded Guilty to Fraudulently Obtaining Emergency Rental Assistance Under A COVID-19 Relief Program

Source: Office of United States Attorneys

BOISE – Tanisha Gray, 39, of Houston, Texas, pleaded guilty to wire fraud, Acting U.S. Attorney Justin Whatcott announced today. Gray fraudulently obtained emergency rental assistance from Idaho Housing and Finance Association (IHFA) and other states’ housing programs that were providing housing assistance for individuals unable to pay rent due to a financial hardship related to the COVID-19 pandemic.

In early 2021, Congress established the Emergency Rental Assistance (ERA) program to provide financial assistance to eligible low-income households to cover the costs of rent, rental arrears, utilities, and other housing-related expenses during the COVID-19 pandemic. IHFA was an administrator of the ERA program for the state of Idaho and received federal funds to provide housing assistance during the pandemic. IHFA provided emergency rent and utility assistance to eligible Idaho renters who had experienced a financial hardship due to or during the COVID-19 pandemic. Eligible households could receive assistance with their rental arrearages, plus three months of future rent, and utility assistance, if requested.

According to court records, from in or around 2022 through 2023, Gray sought rental assistance from the IHFA and other housing programs by submitting false and fraudulent applications that falsely identified herself as a landlord for various properties. As part of the scheme, Gray also submitted fraudulent supporting documentation including fictitious leases, property management agreements, ledgers for rental arrears, tenant income records, addresses, and certifications of eligibility. As a result of the fraudulent applications Gray submitted and caused to be submitted to the various emergency rental assistance programs in Idaho and other states, Gray received more than $62,000 in fraud proceeds.

Senior U.S. District Judge B. Lynn Winmill will sentence Gray on May 14, 2025. The charge in this case is punishable by up to 20 years in federal prison, a maximum fine of $250,000, and up to three years of supervised release.

Acting U.S. Attorney Whatcott commended the investigations by the Boise Police Department and the United States Secret Service, as well as the assistance of the Idaho Housing and Finance Association, which led to the charges. Assistant U.S Attorney Brittney Campbell is prosecuting this case.

###

MIL Security OSI –

February 26, 2025
MIL-OSI USA: Reed, Capito Lead Bipartisan Effort to Accelerate Pediatric Rare Disease Research & Treatment Advances

US Senate News:

Source: United States Senator for Rhode Island Jack Reed

WASHINGTON, DC – In an effort to accelerate research and treatment advances for rare diseases that affect children, U.S. Senators Jack Reed (D-RI) and Shelley Moore Capito (R-WV) teamed up to introduce the Innovation in Pediatric Drugs Act. This bipartisan bill would ensure drugs for rare diseases are studied in children and that drug companies are accountable for completing pediatric study requirements. It would close research gaps created by the growth in so-called “orphan drug” approvals by the U.S. Food and Drug Administration (FDA).

Children are not just small adults who can take smaller doses of adult medication: They metabolize drugs differently and in order for drugs to be safe and effective for kids, they must be studied specifically for children’s use. Yet too often, drug development still leaves children behind. The Innovation in Pediatric Drugs Act would help speed therapies to children who need them, making needed changes to the Best Pharmaceuticals for Children Act (BPCA) and the Pediatric Research Equity Act (PREA), two laws that encourage and require the study of drugs in children.

“This bill would help children battling rare diseases and their families by addressing crucial gaps in pediatric research and treatment and empower the FDA to go after companies that break the rules. Congress must work together to help address the unmet needs of those affected by rare diseases, particularly pediatric patients. The Innovation in Pediatric Drugs Act would include children in the drug development process to expand access to safe and effective treatments and therapies for children with rare ailments and appropriately meet their needs. Our bipartisan bill would provide new paths for pediatric rare disease research and development and ensure patients with rare diseases aren’t left behind,” said Senator Reed.

“It is essential medicines be studied specifically for children’s use, especially for rare diseases,” Senator Capito said. “The same medicines that may work well for some adults could have drastically different results for a child. Our legislation will help ensure pediatric studies are actually being done on both new and innovative drugs, as well as those older drugs now off-patent.”

According to the National Institutes of Health, a “rare disease” is any disease affecting fewer than 200,000 people in the United States (60 cases per 100,000 individuals).

There are more than 7,000 known rare diseases that affect about 30 million people in the U.S., according to the Orphan Drug Act. These rare diseases can vary widely, from genetic conditions to certain types of cancers to cases that are the result of an infection or allergy or unknown causes.

More than 90 percent of rare diseases lack a treatment approved by the FDA. And according to rarediseases.org: Approximately two-thirds of Americans with rare diseases are children.

The Innovation in Pediatric Drugs Act would help ensure children can benefit from advancements in new treatments and therapies by:

Ensuring Drugs for Rare Diseases are Studied in Children

There are close to 7,000 rare diseases without appropriate treatments, and the vast majority of these diseases affect children. Unfortunately, in most cases, drugs for rare diseases, also known as orphan drugs, are not required to be studied in children. Yet the majority of new drugs approved are orphan drugs, meaning that the majority of newly approved drugs are exempt from pediatric study requirements, leaving doctors, parents, and sick kids in the dark about possible treatments.

The Innovation in Pediatric Drugs Act would ensure that children with rare diseases can benefit from new and innovative treatments, lifting the orphan drug exemption in PREA.

Providing Equal Accountability for Pediatric Study Requirements

Due dates for studies required by PREA are typically deferred by FDA until after the approval of the drug for adults. Unfortunately, FDA has no effective enforcement tools to ensure that these studies are completed on time—or at all. Congress tried to solve this problem in 2012. It allowed FDA to send “non-compliance letters” to companies that failed to complete their pediatric studies. Disappointingly, this did not fix the problem. According to an analysis conducted by the American Academy of Pediatrics, as of early 2021, 123 PREA non-compliance letters had been issued, yet only one third had been resolved. On average, studies were 4.4 years late, with some more than 15 years late.

The Innovation in Pediatric Drugs Act would give FDA the authority it needs to ensure that legally required pediatric studies are completed in a timely manner.

Investing in Pediatric Studies of Older Off-Patent Drugs

The FDA incentives and requirements under BPCA and PREA work for many newer drugs, but unfortunately cannot help encourage studies of older drugs. For this reason, in 2002, Congress authorized a program which funds the National Institutes of Health to conduct studies of off-patent drugs used in children that would never be completed otherwise. Drug studies are expensive and costs have only increased since then, but the program has been flat-funded at $25 million since it was created more than 20 years ago.

The Innovation in Pediatric Drugs Act would increase funding for the BPCA NIH program to ensure we have better data about older drugs to treat diseases in children.

Reed and Capito previously teamed up to pass and fund the landmark Childhood Cancer STAR Act.

What They Are Saying About the Innovation in Pediatric Drugs Act:

“Children are not little adults; they have unique health needs. It is essential that children’s needs are considered and prioritized during the drug development process so they do not miss out on new therapies and treatments. The Innovation in Pediatric Drugs Act of 2025 would make needed changes to pediatric drug laws so that children can benefit from new advancements in medicine – including children with rare diseases. Pediatricians applaud Senators Jack Reed (D-RI) and Shelley Moore Capito (R-WV) for their leadership on this issue and call on Congress to swiftly pass this bipartisan legislation into law,” said American Academy of Pediatrics President Susan Kressly, MD, FAAP.

“The biology of cancer children is different from cancer in adults. Drugs to treat children must be developed that are tailored for children. The Innovation In Pediatric Drugs Act of 2025 builds upon the promise of the Research To Accelerate Cures and Equity (RACE) Act For Children to increase pediatric studies of novel therapeutics for pediatric cancers. The new bill is an important step to ensure that required studies are completed for children as they are currently done for adults,” said Steve Wosahla, Chief Executive Officer of Children’s Cancer Cause.

“Kids with cancer need us to put promising new therapies to the test to find the next generation of pediatric treatments. The Innovation in Pediatric Drugs Act would help by holding trial sponsors accountable and opening the door to exciting treatments that could make all the difference for kids,” said Matt Marks of the Leukemia & Lymphoma Society.

MIL OSI USA News –

February 26, 2025
MIL-OSI USA: Hagerty Introduces Steve Feinberg, Trump’s Nominee for Deputy Secretary of Defense

US Senate News:

Source: United States Senator for Tennessee Bill Hagerty
Feinberg—Co-Founder, Co-CEO & Chief Investment Officer of Cerberus Capital Management—served as Chairman of the President’s Intelligence Advisory Board during the first Trump Administration
WASHINGTON—United States Senator Bill Hagerty (R-TN), former U.S. Ambassador to Japan, today introduced Stephen (Steve) A. Feinberg, President Donald Trump’s nominee to be Deputy Secretary of Defense, at the Senate Armed Services Committee confirmation hearing.
Feinberg previously was co-founder, co-CEO, and chief investment officer of Cerberus Capital Management, a global investment firm. He also chaired President Trump’s Intelligence Advisory Board from 2018 to 2021.
When Senator Hagerty served as U.S. Ambassador to Japan in the first Trump Administration, he worked closely with Feinberg to prevent Hanjin Shipyard—now Agila Subic Shipyard—at Subic Bay in the Philippines from falling into Communist China’s control.

*Click the photo above or here to watch*
Remarks as prepared for delivery:
Chairman Wicker and Ranking Member Reed, thank you for holding this important nominations hearing today.
It is my privilege to introduce my good friend, Steve Feinberg—President Trump’s nominee to be the Deputy Secretary of Defense.
During the first Trump Administration, from 2018 to 2021, Steve chaired the President’s Intelligence Advisory Board, where he brought a fresh perspective and provided expert advice on a range of challenges to U.S. national security.
Before his nomination, Steve was co-CEO and Chief Investment Officer of Cerberus Capital Management—a global investment firm that he co-founded in 1992 and that today manages some $68 billion in assets.
At Cerberus, Steve spent 34 years investing in, fixing, and operating a variety of businesses, including those related to national defense and the U.S. Intelligence Community.
Steve is a Patriot with a great heart—one of the many things that sets Steve apart is his strategic vision and his willingness and desire to invest in ways that not only create and grow value for his investors, but also advance U.S. national security interests.
Here, I want to quickly share a powerful story based on my own personal experience with Steve’s leadership.
When I served as U.S. Ambassador to Japan, I discovered that two Chinese firms were attempting to acquire the bankrupt Hanjin Shipyard at Subic Bay in the Philippines.
Subic Bay had previously served as a U.S. Naval base with a deep-water shipyard that is strategically located on the South China Sea.
For various reasons, the International Development Finance Corporation (DFC) and other parts of the U.S. government were not in a position to engage and solve this problem.
So I engaged with top officials in the Trump Administration, and the governments of Japan and the Philippines, as well as with top actors in the private sector—in specific, with Steve Feinberg and Cerberus.
Working together, we assembled an ad hoc public-private solution to this problem and thwarted China’s efforts to acquire the port.
Thanks to leadership from the Trump Administration and Steve Feinberg and his team, we succeeded.
Today, Hanjin Shipyard is known as Agila Subic Shipyard and is owned by American investors.
As a result, U.S. and Allied firms have a joint presence there now—for example, HD Hyundai, a South Korean firm, will build and maintain vessels at the shipyard, and SubCom, a U.S.-based undersea cable firm, is advancing projects in the region from there.
The U.S. military and the Armed Forces of the Philippines also have a significant presence there.
If Steve and his team had not stepped up to solve this problem, the Chinese Communist Party today would likely possess a vital piece of strategic infrastructure in the South China Sea—and the threats to the security of the United States and our partners would be enormous.
At Cerberus, Steve also worked hard on another issue that I dealt with firsthand as U.S. Ambassador to Japan: that is, helping the United States and our partners counter China’s threat in 5G telecommunications by investing in commercial alternatives to Huawei and other Chinese telecoms companies.
Here again, Steve recognized a strategic challenge to the United States and has sought to counter and minimize the influence and access that China could gain from control over spectrum and telecommunications infrastructure.
On that note, I want to commend the Committee for its strong support for the Defense Department’s efforts to accelerate adoption of 5G and Open RAN technologies in order to provide strategic advantages to the warfighter—including by directing the Pentagon to establish a “Secretary of Defense 5G Cross Functional Team” to accomplish this objective.
We could not have addressed these problems without Steve Feinberg—an outsider with a fresh perspective who, at the same time, knows how to work on the inside while bringing innovation and ingenuity to the table.
Steve, if confirmed, will do an outstanding job as the Pentagon’s second highest-ranking civilian official.
Steve understands the mission.
He will leverage his leadership, his strategic thinking, his deep knowledge, his decades of experience, his vast professional network, his willingness to listen and learn, and his decisiveness to improve the Defense Department.
Just as he did at Cerberus for the last 34 years, Steve will work his heart out—every day—at the Defense Department.
He will ensure that the building, its management, its operations, and its programs run better and more efficiently.
And he’ll focus on the Department’s goal of providing decisive strategic, operational, and tactical advantages to the warfighter.
Steve Feinberg is the right man for this job—I look forward to his testimony today and to working with my colleagues to advance his nomination as quickly as possible.

MIL OSI USA News –

February 26, 2025
MIL-OSI USA News: Addressing the Threat to National Security from Imports of Copper

Source: The White House

class=”has-text-align-left”>By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862) (Trade Expansion Act), it is hereby ordered:

Section 1. Policy. Copper is a critical material essential to the national security, economic strength, and industrial resilience of the United States. Copper, scrap copper, and copper’s derivative products play a vital role in defense applications, infrastructure, and emerging technologies, including clean energy, electric vehicles, and advanced electronics. The United States faces significant vulnerabilities in the copper supply chain, with increasing reliance on foreign sources for mined, smelted, and refined copper.

The United States has ample copper reserves, yet our smelting and refining capacity lags significantly behind global competitors. A single foreign producer dominates global copper smelting and refining, controlling over 50 percent of global smelting capacity and holding four of the top five largest refining facilities. This dominance, coupled with global overcapacity and a single producer’s control of world supply chains, poses a direct threat to United States national security and economic stability.

It is the policy of the United States to ensure a reliable, secure, and resilient domestic copper supply chain. The United States’ increasing dependence on foreign sources of copper, particularly from a concentrated number of supplier nations, along with the risk of foreign market manipulation, necessitate action under section 232 of the Trade Expansion Act to determine whether imports of copper, scrap copper, and copper’s derivative products threaten to impair national security.

Sec. 2. Investigation Into the National Security Impact of Copper Imports. (a) The Secretary of Commerce shall initiate an investigation under section 232 of the Trade Expansion Act to determine the effects on national security of imports of copper in all forms, including but not limited to:

(i)    raw mined copper;

(ii)   copper concentrates;

(iii) refined copper;

(iv)   copper alloys;

(v)    scrap copper; and

(vi)   derivative products.

(b) In conducting the investigation described in subsection (a) of this section, the Secretary of Commerce shall assess the factors set forth in 19 U.S.C. 1862(d), labeled “Domestic production for national defense; impact of foreign competition on economic welfare of domestic industries,” as well as other relevant factors, including:

(i)    the current and projected demand for copper in United States defense, energy, and critical infrastructure sectors;

(ii)   the extent to which domestic production, smelting, refining, and recycling can meet demand;

(iii) the role of foreign supply chains, particularly from major exporters, in meeting United States demand;

(iv)   the concentration of United States copper imports from a small number of suppliers and the associated risks;

(v)    the impact of foreign government subsidies, overcapacity, and predatory trade practices on United States industry competitiveness;

(vi)   the economic impact of artificially suppressed copper prices due to dumping and state-sponsored overproduction;

(vii)   the potential for export restrictions by foreign nations, including the ability of foreign nations to weaponize their control over refined copper supplies;

(viii) the feasibility of increasing domestic copper mining, smelting, and refining capacity to reduce import reliance; and

(ix)    the impact of current trade policies on domestic copper production and whether additional measures, including tariffs or quotas, are necessary to protect national security.

Sec. 3. Required Actions. (a) The Secretary of Commerce shall consult with the Secretary of Defense, the Secretary of the Interior, the Secretary of Energy, and the heads of other relevant executive departments and agencies as determined by the Secretary of Commerce to evaluate the national security risks associated with copper import dependency.

(b) Within 270 days of the date of this order, the Secretary of Commerce shall submit a report to the President that includes:

(i)   findings on whether United States dependence on copper imports threatens national security;

(ii) recommendations on actions to mitigate such threats, including potential tariffs, export controls, or incentives to increase domestic production; and

(iii) policy recommendations for strengthening the United States copper supply chain through strategic investments, permitting reforms, and enhanced recycling initiatives.

Sec. 4. General Provisions. (a) Nothing in this order shall be construed to impair or otherwise affect:

(i)   the authority granted by law to an executive department or agency, or the head thereof; or

(ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.

(b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations.

(c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

THE WHITE HOUSE,

    February 25, 2025.

MIL OSI USA News –

February 26, 2025
MIL-OSI Australia: Man charged with aggravated burglary and firearms offences

Source: Tasmania Police

Man charged with aggravated burglary and firearms offences

Wednesday, 26 February 2025 – 9:24 am.

Detectives from Bridgewater Criminal Investigation Branch have charged a 24-year-old man with a series of offences following a recent planned police operation.
Police will allege the man was involved in a significant number of firearms burglaries and associated offending in Colebrook and Campania during January and February this year.
He was arrested by investigators in Rosny on Tuesday, and several search warrants were subsequently executed across Hobart’s eastern shore.
Electronic exhibits, ammunition and a reportedly stolen motorbike were located in the searches.
He has been charged with a series of offences including aggravated burglary, motor vehicle stealing, firearms and traffic offences and will appear in the Hobart Magistrates Court today.

MIL OSI News –

February 26, 2025
MIL-OSI USA: Baldwin Demands Answers from Social Security Administration on Musk and DOGE’s Access to Personal Information
US Senate News:
Source: United States Senator for Wisconsin Tammy Baldwin

WASHINGTON, D.C. – U.S. Senator Tammy Baldwin (D-WI) and a group of her colleagues demanded answers from the Social Security Administration regarding the recent turmoil at the agency as Elon Musk and his so-called Department of Government Efficiency (DOGE) embed themselves and gain access to Wisconsinites most sensitive personal information.

“Providing access to personally identifiable information on hundreds of millions of Americans stored by SSA to DOGE employees without a legitimate reason, and in apparent disregard for privacy laws, regulations, and procedures, raises serious concerns about the security of that data and what DOGE plans to do with it,” wrote Baldwin and the lawmakers.

The letter seeks answers from Acting Commissioner Leland Dudek about DOGE’s activities at SSA, including:
- Whether the Acting Commissioner has disclosed any sensitive personal or financial information to any unauthorized persons outside SSA.
- Whether DOGE has requested or received access to any SSA system that is used in determining eligibility or benefit amount of Social Security or SSI benefits.
- Whether DOGE has gained access to SSA databases that include personally identifiable information, wage or tax information, or personal health information.
- Whether any private or commercial servers been connected or integrated into SSA data systems to review, edit, modify, access, delete, move or otherwise change data.
- What steps are being taken to prevent DOGE from stopping lawful benefit payments or utilizing personally identifiable information for political purposes.
Earlier this month, Senator Baldwin called on Veterans Affairs (VA) Secretary Doug Collins to take immediate actions to secure veterans’ personal information provided by the VA or other agencies from Elon Musk and DOGE.

A full version of this letter is available here and below.

Acting Commissioner Dudek:

We write to express deep concern regarding disturbing reports that the President replaced Social Security Administration (SSA) Acting Commissioner Michelle King for refusing to provide Elon Musk and the so-called “Department of Government Efficiency” (DOGE) access to the agency’s most sensitive data without proper documentation, and that you have provided DOGE unfettered access.

As the central hub for Americans’ most sensitive personal and financial information, and the nation’s largest benefit-paying agency, DOGE’s actions–in seeking access to this information-represent a two-front invasion on Americans’ financial security and privacy. In response to earlier media reports detailing DOGE’s efforts to access SSA systems, Senator Wyden demanded information from then-Acting Commissioner King to verify these reports and to understand what steps she has taken to protect Americans’ privacy. In her February 11 response, she wrote that no one affiliated with DOGE had “requested nor received access to the agency’s programmatic systems.” Further, she stressed that employee access to SSA’s systems is limited to the least privileges necessary to complete job duties, and its systems are continuously monitored to identify suspicious behaviors.

Stringent privacy laws, regulations, and administrative procedures are in place to protect American’s data, including personally identifiable information, stored and used for legitimate purposes by government agencies. Maybe nowhere is that more important than SSA. For example, the Privacy Act of 1974, as amended (5 U.S.C. 552a, Public Law 93-579), protects Americans against an unwarranted invasion of their privacy related to the disclosure of their personal information. And, in so doing, it requires each federal agency to publish in the Federal Register information related to how and why it is accessing a specific system of records—data that are collected, maintained, used, or disseminated that contain personally identifiable information. To date, no justification has been published related to DOGE actions at SSA or otherwise. Providing access to personally identifiable information on hundreds of millions of Americans stored by SSA to DOGE employees without a legitimate reason, and in apparent disregard for privacy laws, regulations, and procedures, raises serious concerns about the security of that data and what DOGE plans to do with it.

We are also concerned that DOGE’s access to these systems has been provided under false pretenses claiming rampant fraud to cut benefits to Americans. Over the past weekend, Elon Musk repeatedly posted and reposted a false claim that millions of individuals over age 150 are receiving Social Security benefits. These claims are so easily disproven, and have been repeatedly, that this cannot be a justifiable reason to need complete access to all data housed at SSA. A simple internet search would show U.S. Census data estimating approximately 80,000 Americans over age 100 living in the United States today, and SSA’s own data shows that roughly 53,000 Americans over age 100 receive Social Security benefits in December 2023. As you know, SSA’s Office of Inspector General (OIG) published an audit in 2023 which found that of the 18.9 million individuals over age 100 that did not have death information reported to SSA, almost none currently receive benefit payments or have reported earnings in the past 50 years. In the same audit, SSA noted that combing through the agency’s records to update the information of these individuals would cost up to $9.7 million, with little benefit to SSA’s administration of the programs.

As you know, the information collected and housed at the agency could have significant commercial value, as well as competitive advantage for individuals seeking to use it for financial gain. Likewise, it could be misappropriated to target American citizens and businesses for political or exploitative means. This includes Americans’ Social Security Numbers; bank and credit card information; birth and marriage certificates; pension information; home and work addresses; school records; citizenship status; immigration or naturalization records; IRS earnings records; health care providers’ contact information; family court records; employment and employer records; psychological or psychiatric health records; hospitalization records; addiction treatment; and test for or records of HIV/AIDS. These records are handled by career civil servants under stringent federal and state privacy laws and regulations to protect Americans’ health and financial information.

As you well know, SSA employs sophisticated systems, processes, and controls to ensure that benefits are paid the correct amount to the correct person. SSA has made great strides in improving its program integrity systems to reduce improper payments and to prevent instances of waste, fraud, or abuse. While we agree that more can always be done to improve SSA’s process, Musk and DOGE do not appear to be interested in improving the system for Americans. Rather than working collaboratively with the agency to understand and improve its existing systems, Musk and DOGE have been keener on publicizing misleading or blatantly inaccurate information about Social Security. This raises questions on whether their pursuit of combatting waste, fraud, and abuse is purely performative rather than sincere.

Moreover, the President’s decision to replace a career SSA official with over three decades of agency experience with an employee with no executive experience will likely trigger a cascade of departures of experienced agency personnel, as former Commissioner O’Malley warned. At a time when the agency’s workforce is at a 50-year low, the potential loss of centuries’ worth of agency experience will risk worsening backlogs, longer wait times, and interruption of benefit payments. When combined with SSA providing inexperienced individuals unfettered access to the agency’s sensitive systems, there is a profound risk of causing irreparable harm to the agency’s systems and Americans’ financial security.

Finally, we are also concerned of reports that prior to your appointment as Acting Commissioner, you were placed on administrative leave pending an investigation into you sharing sensitive documents with individuals not authorized to access such information, and for harassing and threatening fellow SSA employees to work with DOGE. If accurate, your actions demonstrate a betrayal of trust and your oath of office and may violate federal privacy laws.

For this reason, we request that you respond to the following questions no later than February 25, 2025:
1. Have you disclosed any personally identifiable information (PII), protected health information (PHI), federal tax information (FTI), or other sensitive personal and financial information in any SSA data systems to:
  
  Any SSA personnel or SSA contractors who lacked the appropriate statutory authority to access such information;
  
  Non-SSA federal employees;
  
  Non-SSA federal contractors;
  
  Special Government Employees (SGEs); or
  
  Any other unauthorized persons?
1. Has DOGE, or any individuals or entities operating under the guise of or direction of DOGE (including such individuals who may have been onboarded to the Agency and received an Agency or Departmental email address) requested or received access to any SSA system that is used in determining eligibility or benefit amount of Social Security or SSI benefits?
  
  If so, who granted such access, to which systems, and for what specific purposes? Please name each system and provide the names of individuals who have been given access to such system.
  
  Under what legal authority did SSA grant such access? Please provide a detailed description of this authority and copies of all communication between individuals associated with the “Department of Government Efficiency” and SSA systems.
  
  For each individual who has been given access to SSA data systems since January 20, 2025, please provide information on:
  
  The agency to which each such individual has been onboarded (or working as a contractor for) and whether an individual who may have been onboarded to a different agency has been given an SSA email address;
  
  Which federal forms each such individual completed relating to background checks (i.e. SF-85, SF-85P, SF 85PS, SF-86);
  
  Whether the Federal Bureau of Investigation (FBI) completed a background check for each such individual;
  
  Whether the individuals have used their data access privileges consistent with any restrictions based on their respective security clearance levels;
  
  What trainings on security, health information privacy, cybersecurity, financial, fraud, or other trainings required of SSA or their contractors these individuals have undertaken and when.
  
  Please provide a list of queries run on each such system by each user, since January 20, 2025, including dates and usernames.
  
  Please provide a thorough accounting of the information each individual reviewed, modified, accessed, deleted, or otherwise edited under such system.
  
  For any information that has been modified, edited, or deleted, please provide an accounting of the variables, entries, and the exact changes made, as well as for what purpose.
  
  Please provide details on any information from any such systems that were downloaded, copied, transferred, or otherwise removed from the Agency. Please specify which data, by what means they were downloaded or transferred, and to whom or what entity.
1. Has DOGE, or any individuals or entities operating under the direction of DOGE gained access to SSA databases that include personally identifiable information, wage or tax information, or personal health information?
  
  If so, which data have been reviewed, modified, deleted, or otherwise edited or removed, copied, or downloaded or otherwise transferred by these individuals?
  
  Under what legal authority did SSA grant such access? Please provide a detailed description of this authority and copies of all communication between individuals or entities operating under the direction of DOGE and SSA officials related to the granting of this access.
  
  How many individuals does this affect? Have these individuals been notified that their information has been accessed and for what purposes in accordance with the requirements of the Privacy Act of 1974, as amended, and Section 1106 of the Social Security Act (42 U.S.C. 1306)? Please provide documentation.
  
  To the extent personally identifiable information were accessed since January 20, 2025, please provide the System of Record Notice included in the Federal Register reflective of this access.
1. Have any private or commercial servers been connected or integrated into SSA data systems to review, edit, modify, access, delete, move or otherwise change data?
  
  If so, please explain the origin of such servers and provide documentation related to testing and validating controls to ensure no new vulnerabilities were introduced into SSA data systems upon use.
  
  For any data that were moved to a private or commercial server, please show how that system has been reviewed and is abiding by the National Institute of Standards and Technology (NIST) special publication 800-171, Protecting Controlled Unclassified Information in Nonfederal Systems and Organizations.
  
  For any data that were moved to a private or commercial server, please provide detailed information related to whether any safe storage standards are being employed.
1. Attempts to suspend federal payments have been reportedly attempted by individuals or entities operating under the direction of DOGE. We are deeply concerned that DOGE may attempt to stop lawful payments for Social Security and SSI benefit payments, deny benefits to individuals who are perceived to not support President Trump, or otherwise inflict financial harm on individuals.
  
  What steps have been taken to ensure that the data of individuals, beneficiaries, and health care providers are protected from unlawful payment suspensions or data leaks?
  
  What specific steps have been taken to ensure compliance with current laws, guidance, and regulations to ensure that the use of these data will not interfere with timely payments of Social Security and SSI benefits?
  
  What specific steps have been taken to ensure compliance with current laws, guidance, and regulations to ensure that personally identifiable information that is held on SSA systems is not being utilized for politically motivated purposes?
Thank you for your attention to this urgent matter. We look forward to your prompt response.

Sincerely,

An online version of this release is available here.
MIL OSI USA News –
February 26, 2025
MIL-OSI Security: King County man who dealt narcotics on the dark web and kept a cache of weapons at his RV sentenced to 8 years in prison

Source: Office of United States Attorneys

Law enforcement was already investigating dark web drug trafficking when defendant was shot near Olallie State Park

Seattle – A King County man, arrested after law enforcement discovered a drug lab and cache of firearms and explosives inside an RV near a state park, was sentenced today to eight years in prison for possession of fentanyl with intent to distribute, unlawful possession of a machinegun, and unlawful possession of destructive devices, announced Acting U.S. Attorney Teal Luthy Miller. Braiden F. Wilson, 29, and his partner, 30- year-old Chandler B. Bennett were arrested following a May 12, 2024, shooting in rural King County. At today’s sentencing hearing U.S. District Judge Lauren King said, the crimes “were egregious… You distributed a large amount of drugs that cause a danger to our community.”

“Mr. Wilson used the dark web to advertise his potentially deadly wares, shipping fentanyl pills across the country,” said Acting U.S. Attorney Miller. “He further placed the lives of the community in danger by stockpiling a cache of weapons and explosives, which he stored adjacent to a state park frequented by the public.”

According to records filed in the case, Homeland Security Investigation (HSI) was investigating Wilson for dealing drugs on the dark web, when King County Sheriff’s deputies were called to the RV near Olallie State Park when Wilson was shot. The deputies noticed that the RV had surveillance cameras and asked to get access to the recorded video to identify the assailant. Bennett refused to allow law enforcement to enter the RV, so they sought a warrant from a King County Judge.

When law enforcement entered the RV, they found a large cache of weapons as well as fentanyl powder, tablets containing fentanyl, and sundry items associated with the manufacture of tablets, including a manual pill press. Law enforcement located more than two and a half kilograms of fentanyl-laced pills. Law enforcement seized 16 firearms, body armor, silencers, and ballistic shields. They also found gun parts made from 3D printers – making them untraceable. There were multiple destructive devices and literature on the chemistry and manufacturing of explosives, as well as literature on how to convert firearms to fully automatic capability.

Agents and officers also searched two storage units associated with Wilson and found two additional pill presses, more controlled substances, and mailing supplies. In all law enforcement seized more than two kilos of fentanyl-laced pills, nearly a kilo of fentanyl powder, and more than three kilos of methamphetamine. Computer and bank records reveal that Wilson distributed controlled substances via his dark web identity more than 2,000 times and he took in more than $287,000 in crypto currency.

Wilson pleaded guilty in October 2024.

Asking for an eight-year prison sentence prosecutors wrote to the court, “Wilson engaged in a comprehensive enterprise to distribute fentanyl-laced pills throughout the country by offering his products for sale on dark web

marketplaces… He maintained a veritable armory while engaged in his drug distribution business. Inside the motorhomes Wilson shared with his co-defendant, investigators found an operable machinegun; silencers designed to muffle the report of a discharged firearm; a shotgun stored in a case designed to look like it carried a musical instrument; destructive devices commonly called pipe bombs; and materials to make more destructive devices.”

“This is another example of great work by our patrol deputies, as they went above and beyond on a call that resulted in taking two dangerous criminals off the street,” said King County Sheriff Patti Cole-Tindall. “Additionally, I am so proud of the work done by our Gun Violence Reduction Unit. That team was able to ensure the proper steps were taken in this investigation, and in partnership with several federal agencies, were able to hold these people accountable and ensure justice was served.”

The case was investigated by Homeland Security Investigation (HSI), the King County Sheriff’s Office, the Bureau of Alcohol, Tobacco, Firearms & Explosives (ATF), the United States Postal Inspection Service (USPIS), the Federal Bureau of Investigation (FBI), and the Drug Enforcement Administration (DEA), with assistance from the Washington State Patrol.

The case is being prosecuted by Assistant United States Attorneys Casey Conzatti and Brian Wynne.

MIL Security OSI –

February 26, 2025
MIL-OSI Security: Orleans Man Sentenced to 10 Years in Prison for Child Pornography Offenses

Source: Office of United States Attorneys

BOSTON – An Orleans man was sentenced today in federal court in Boston for child pornography offenses.

Anthony Argo, 34, was sentenced by U.S. District Court Judge Myong J. Joun to 10 years in prison, to be followed by five years of supervised release. In November 2024, Argo pleaded guilty to possession of child sexual abuse material (CSAM). Argo was arrested and charged in July 2024.

Argo was identified as the user of a chat application who was expressing sexual interest in minors and sharing CSAM. During a search of his residence, Argo was found in possession of an SD card and multiple USB drives containing thousands of images depicting child pornography. The files depicted children as young as infants.

According to court documents, Argo was previously convicted in Barnstable District Court for indecent assault and battery on a person 14 or over and in Orleans District Court for kidnapping, enticement of a child under 16 and distributing obscene matter to a minor.

United States Attorney Leah B. Foley and Michael J. Krol, Special Agent in Charge of Homeland Security Investigations in New England made the announcement today. Special assistance was provided by Homeland Security Investigations in Frederick, Maryland and the Orleans Police Department. Assistant U.S. Attorney Lauren Maynard of the Major Crimes Unit prosecuted the case.

This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse, launched in May 2006 by the Department of Justice. Led by the U.S. Attorneys’ Offices and the DOJ’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state and local resources to locate, apprehend, and prosecute individuals who exploit children, as well as identify and rescue victims. For more information about Project Safe Childhood, please visit https://www.justice.gov/psc.

MIL Security OSI –

February 26, 2025
MIL-OSI Security: Former NOPD Sergeant Sentenced to 5 Years Probation After Pleading Guilty to Six Counts of Wire Fraud tor Double Billing and Billing for Time Not Worked

Source: Office of United States Attorneys

NEW ORLEANS – Acting U.S. Attorney Michael M. Simpson announced today that United States District Judge Jay C. Zainey sentenced former New Orleans Police Department Sergeant TODD F. MORRELL, age 57, a resident of New Orleans, to 5 years of probation, 8 months of home confinement, 150 hours of community service, a $5,000 fine, and payment of a mandatory $600 special assessment fee after he previously pleaded guilty to six (6) counts of wire fraud, in violation of Title 18, United States Code, Section 1343, for perpetrating a multi-year scheme to defraud NOPD and the New Orleans Fair Grounds, an entity that paid him to provide off-duty police details. A restitution hearing is set for April 29, 2025.

According to court documents, MORRELLwas a NOPD Sergeant with NOPD’s Special Operations Division, serving both on a Tactical Platoon and the Bomb Disposal Unit. He supplemented his NOPD income with security-oriented secondary employment (i.e., “police details”) while off-duty, including a detail with the New Orleans Fair Grounds Neighborhood Patrol (“Fair Grounds Patrol”). The Fair Grounds Patrol was created by city ordinance to enhance police service around the New Orleans Fair Grounds Racecourse. The Fair Grounds Patrol consisted of two patrol cars operating 24 hours per day, 7 days a week, with one off-duty NOPD officer per car. MORRELL signed annual certifications attesting to his understanding of NOPD policies, including the secondary employment policy, and acknowledging that he would “actively monitor my hours” and would “not engage in activities or personal business which would cause them to neglect or be inattentive to duty.”

Notwithstanding these annual certifications, on numerous occasions between early 2017 and November 30, 2021, MORRELL submitted and certified timecards to NOPD and time sheets to the Fair Grounds Patrol,falsely claiming to have been on duty (for NOPD) and on detail (for the Fair Grounds Patrol) when, in actuality, MORRELL was not present for duty. Instead, MORRELL engaged in personal, recreational activities unrelated to his work duties. Often, MORRELL was engaged in recreational race car driving in Avondale, Louisiana, and Austin, Texas, while claiming to be on duty and on detail. Additionally, MORRELL “double billed” NOPD and the Fair Grounds Patrol by submitting time sheets to both entities reflecting that he was working for both entities simultaneously. The six counts to which MORRELL pled guilty, are representative examples of his scheme. These counts related to individual payments MORRELL received for submitting false and fraudulent time sheets for on duty and secondary employment shifts while a part of the Fair Grounds Patrol. The various dates he falsely claimed to work that constituted the six counts were: July 1, 2019, December 21, 2020, January 23, 2021, March 13, 2021, March 14, 2021, April 25, 2021, April 30, 2021, and October 23, 2021.

“When anyone willfully commits fraud, our office will investigate, and if warranted, prosecute,” stated Acting United States Attorney Michael M. Simpson. “Mr. Morrell’s sentencing is an acknowledgment of the betrayal, and breach of public trust, as well as the resultant harm stemming therefrom, that his serial fraudulent acts have caused the New Orleans Police Department, and the citizens of New Orleans. This successful investigation and prosecution, exemplify the strong partnership between our office, the FBI, the New Orleans Office of Inspector General and the New Orleans Public Integrity Bureau.”

“The FBI will continue to investigate fraud and corruption at all levels of government and individuals like Mr. Morrell who exploit the public’s trust for personal gain,” said FBI New Orleans Acting Special Agent in Charge Stephen Cyrus. “We thank the New Orleans Inspector General’s Office and the New Orleans Public Integrity Bureau for their assistance in bringing this misconduct to light.”

Acting U.S. Attorney Simpson praised the work of the Federal Bureau of Investigation in investigating this matter and expressed appreciation for the support provided by the City of New Orleans Office of Inspector General and the New Orleans Public Integrity Bureau. Assistant United States Attorneys Jordan Ginsberg, Chief of the Public Integrity Unit, and Brittany L. Reed also of the Public Integrity Unit, are in charge of the prosecution.

MIL Security OSI –

February 26, 2025
MIL-OSI Security: Natchitoches Man Sentenced for Possession of Child Pornography

Source: Office of United States Attorneys

ALEXANDRIA, La. – Christopher Aaron Stanfield, 37, of Natchitoches, Louisiana, has been sentenced for possession of child pornography, announced Acting United States Attorney Alexander C. Van Hook. United States District Judge Dee D. Drell sentenced Stanfield to 97 months (8 years, 1 month) in prison, followed by 5 years of supervised release, for the offense.

On October 6, 2020, officers with the Natchitoches Parish Sheriff’s Office executed an arrest warrant at Stanfield’s residence in Natchitoches. Prior to the execution of the arrest warrant, a search warrant had also been secured for Stanfield’s apartment in connection with a separate and ongoing investigation. During the arrest and search, law enforcement officers collected several electronic devices, including iPads, a laptop, and an iPhone.

Stanfield was interviewed by law enforcement officers and admitted to committing several criminal offenses, including theft and identity theft. He further admitted that he had been using the “dark web” to commit these offenses. A subsequent forensic review of Stanfield’s seized electronic equipment was conducted by the Bossier City Marshal’s Office, Cybercrime Unit, and revealed that there were approximately 513 still images and 6 videos depicting the sexual exploitation of minor children. These images and videos included the rape of infants and toddlers. Stanfield pleaded guilty to the charge on March 14, 2024.

The case was investigated by the Federal Bureau of Investigation, Natchitoches Parish Sheriff’s Office and Bossier City Marshal’s Office, Cybercrime Unit, and prosecuted by Assistant United States Attorney Jamilla A. Bynog.

This case is part of Project Safe Childhood, a U.S. Department of Justice nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse. Led by U.S. Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section, Project Safe Childhood combines federal, state and local resources to better locate, apprehend and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit www.projectsafechildhood.gov.

To report an incident involving the possession, distribution, receipt or production of child pornography: Child sexual abuse material – referred to in legal terms as “child pornography” – captures the sexual abuse and exploitation of children. These images document victims’ exploitation and abuse, and they suffer revictimization every time the images are viewed. In 2023, the National Center for Missing & Exploited Children received 36 million reports of the possession, manufacture, or distribution of child sexual abuse materials. To file a report with NCMEC, go to https://report.cybertip.org or call 1-800-843-5678.

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MIL Security OSI –

February 26, 2025
MIL-OSI Security: Dive Boat Owner/Operator Pleads Guilty to Violating the Federal Clean Water Act

Source: Office of United States Attorneys

MIAMI – Today, a Florida woman pled guilty in federal district court to violating the Clean Water Act by knowingly discharging a harmful quantity of oil into United States and contiguous zone waters.

According to court documents and statements made at today’s hearing, Liza R. Hash, 48, of Inglis, Fla. owned and operated the S/V JULIET, an 88-foot, 118 gross ton, steel-hulled sailing vessel built in 1974. For approximately six years, Hash operated the vessel between Miami and the Bahamas, on multi-day scuba diving excursions. She carried as many as 12 passengers per trip plus crew.

On June 16, 2023, Investigating Officers (CGIOs) from the U.S. Coast Guard Sector Miami boarded the S/V JULIET upon its return from a trip to the Bahamas. After noticing an active oil sheen originating from the vessel, they conducted a safety examination.

During the examination, the CGIOs noted oily water in the vessel’s bilge and an electric submersible pump in the space beneath the main diesel engine. The pump was connected to the vessel’s grey water tank, which was arranged to be discharged overboard without treatment. The Defendant admitted that she would use the bilge pump to transfer oil-contaminated bilge waste first into the grey water tank. Then, she would use the grey water tank’s separate discharge pump to empty the untreated contents into U.S. waters. The grey water tank was neither designed nor intended to handle oily bilge wastes, but rather to hold liquids from the vessel’s washer, dryer, sinks, showers, and air conditioning unit.

Calculations performed by the CGIOs revealed that over the preceding five years of operation, approximately 26,000 gallons of oily water would have been illegally discharged from the S/V JULIET. Such wastes should have been held on board for proper pump-out and disposal at a shore-side facility.

United States District Judge Rodolfo A. Ruiz, II, set sentencing in the case for May 21, 2025, at 1:30 p.m. The defendant faces up to three years’ imprisonment, followed by up to three years of supervised release. In addition, the court may impose a fine of up to $250,000.

Hayden P. O’Byrne, United States Attorney for the Southern District of Florida, and Kristopher Martel, Assistant Special Agent in Charge of the Environmental Protection Agency’s criminal enforcement program in Florida, announced the guilty plea.

United States Attorney O’Byrne commended the efforts of the United States Coast Guard Sector Miami Investigating Officers, the Coast Guard Investigative Service, and the Environmental Protection Agency, Criminal Investigation Division. Assistant United States Attorney Thomas Watts-FitzGerald is prosecuting the case.

You may find a copy of this press release (and any updates) on the website of the United States Attorney’s Office for the Southern District of Florida at https://www.justice.gov/usao-sdfl.

Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov under case number 25-cr-20007.

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MIL Security OSI –

February 26, 2025
MIL-OSI Security: Former Maryland State Trooper Pleads Guilty to Drug and Bribery Charges

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

Defendant Riggs conspired to sell law-enforcement informant information to a drug trafficking organization

Baltimore, Maryland – Justin Riggs, 35, of Smithsburg, Maryland, pleaded guilty, yesterday, to federal charges of Conspiracy to Distribute and Conspiracy to Possess with the Intent to Distribute Controlled Dangerous Substances, Use of a Communication Facility in Causing or Facilitating the Conspiracy to Distribute Controlled Dangerous Substances, and Travel Act-State of Maryland Bribery.

Phil Selden, Acting United States Attorney for the District of Maryland, announced the plea with Special Agent in Charge William J. DelBagno of the Federal Bureau of Investigation (FBI) Baltimore Field Division.

“As a law enforcement officer, Justin Riggs violated his sworn duty to uphold the public trust and put a life in harm’s way,” stated Acting United States Attorney Selden. “The District of Maryland U.S. Attorney’s Office will relentlessly pursue corrupt law-enforcement officers who try to dishonor their badge as we also work to support the many honorable officers whose reputations they unfairly tarnish.”

“Not only did Riggs deliberately and willingly violate the oath he took as a sworn law enforcement officer, but he also put other lives at risk with his greed and deceit,” said SAC DelBagno. “The FBI is committed to working with our partners to thoroughly investigate such cases to protect the American people and preserve public trust in law enforcement.”

According to his guilty plea, in December 2022, Riggs — who was serving as a Maryland State Trooper — was part of a Maryland State Police team investigating drug-and-gun trafficking in Western Maryland. The team used at least one confidential human source during the investigation. Riggs created a fictitious Facebook account to contact a drug-distributor target. While corresponding with the drug distributor, Riggs informed the drug distributor that he worked “for a fed agency.” Riggs also told the drug distributor that he had “tons more info pertaining to your biggest informant.” The former Maryland state trooper initiated several electronic conversations with the drug distributor between 2022 and 2023, attempting to sell the informant’s identity.

The parties have agreed that if the Court accepts the plea agreement, Riggs will receive a sentence between 48 and 108 months in federal prison. U.S. District Judge Stephanie A. Gallagher will schedule sentencing for a later date.

Acting United States Attorney Selden commended the FBI, Homeland Security Investigations, Maryland State Police, and Bureau of Alcohol, Tobacco, Firearms and Explosives for their work in the investigation. Mr. Selden also thanked Assistant United States Attorneys Christine Goo and Sean Delaney who are prosecuting the case.

For more information about the Maryland U.S. Attorney’s Office, its priorities, and resources available to help the community, visit https://www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach.

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MIL Security OSI –

February 26, 2025
MIL-OSI Security: Longtime Gang Member Pleads Guilty to Drug Conspiracy

Source: Office of United States Attorneys

BOSTON – A member of the violent Boston-based gang H-Block pleaded guilty today in federal court in Boston to drug conspiracy charges.

Jason Bly, 44, of Quincy, pleaded guilty to one count of conspiracy to possess with intent to distribute cocaine and one count of possession with intent to distribute cocaine. U.S. District Court Judge Myong J. Joun scheduled sentencing for June 17, 2025.

According to the charging documents, the H-Block street gang is one of the most feared and influential city-wide gangs in Boston. Originally formed in the 1980s as the Humboldt Raiders in the Roxbury section of Boston, the gang re-emerged in the 2000s as H-Block. Current members of H-Block have a history of violent confrontation with law enforcement, including an incident in 2015 when a member shot a Boston Police officer at point blank range without warning or provocation.

Bly was one of 10 H-Block gang members and associates charged in August 2024 following a multi-year investigation of H-Block beginning in 2021 in response to an uptick in gang-related drug trafficking, shootings and violence. According to court documents, over 500 grams of cocaine, cocaine base (crack cocaine) and fentanyl, as well as over 20,000 doses of drug-laced paper were seized during the investigation.

The investigation identified Bly as a longtime H-Block gang member and a supplier of wholesale quantities of cocaine for distribution. During this investigation, Bly supplied co-defendant and fellow H-Block gang member Avery Lewis with a quarter kilogram of cocaine.

According to court documents, Bly’s criminal history includes a 2016 conviction of attempted assault and battery with a firearm and possession of a firearm without a permit during an incident where he fired several rounds from a firearm in H-Block territory. He also has a 2024 conviction for assault and battery with a dangerous weapon during incident in which he threw a cup of hot coffee in another man’s face during an argument for which he is currently on probation until June of 2025.

Bly is the third defendant to plead guilty in the case. Lewis pleaded guilty on Jan. 21, 2025 and is scheduled to be sentenced on May 13, 2025.

The charges of conspiracy to possess with intent to distribute cocaine and possession with intent to distribute cocaine each provide for a sentence of up to 20 years in prison, at least three years and up to a lifetime of supervised release and a fine of up to $1 million. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

United States Attorney Leah B. Foley; Boston Police Commissioner Michael Cox; Stephen Belleau, Acting Special Agent in Charge of the Drug Enforcement Administration, New England Field Division; Special Agent in Charge Andrew Murphy of the U.S. Secret Service Boston Field Office; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; and Jonathan Mellone, Special Agent in Charge of the U.S. Department of Labor, Office of Inspector General, Northeast Region made the announcement. The investigation was supported by the Massachusetts State Police; Suffolk County District Attorney’s Office; Massachusetts Department of Corrections; and the Braintree, Quincy, Randolph and Watertown Police Departments. Assistant United States Attorney John T. Dawley of the Organized Crime & Gang Unit and Jeremy Franker of the Justice Department’s Violent Crime & Racketeering Section are prosecuting the cases.

The case was investigated under the Organized Crime Drug Enforcement Task Forces (OCDETF). OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. For more information about Organized Crime Drug Enforcement Task Forces, please visit Justice.gov/OCDETF.

The details contained in the charging documents are allegations. The remaining defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI –

February 26, 2025

Category: Finance

Public vs private markets

What are the concerns?

The role of Australian super funds

What’s behind the shift in markets?

Why does all this matter?

The case for foreign university partnerships

The strength of local university collaborations

A balanced approach

Padilla Highlights Threats to Election Security, Campaign Finance in First Business Meeting as Rules Committee Ranking Member