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Category: Finance

  • MIL-OSI Security: Saskatchewan —  Saskatchewan RCMP WEST asks members of the public to report sightings of Joey Desjarlais

    Source: Royal Canadian Mounted Police

    Saskatchewan RCMP WEST is asking members of the public to report all sightings and information on the whereabouts of 34-year-old Joseph “Joey” Desjarlais.

    Desjarlais is wanted in relation to a September 8 robbery in Wadena, a September 16 robbery in Melfort, and is now charged in relation to a robbery in Yorkton.

    On September 22, 2024 at approximately 2:05 a.m., Yorkton RCMP received a report of a robbery at a business on Smith Street.

    Investigation determined an adult male entered the business, threatened an employee with a firearm, then stole cash, cigarettes and the keys to the employee’s vehicle. He then fled in that vehicle.

    No physcal injuries were reported as a result of the robbery.

    As a result of investigation, Desjarlais has been charged with:

    • one count, robbery with firearm, Section 344, Criminal Code;
    • one count, theft of motor vehicle, Section 333.1(1), Criminal Code;
    • one count, possession of a weapon for a dangerous purpose, Section 88(1), Criminal Code; and
    • three counts, possession of weapon contrary to order, Section 117.01(1), Criminal Code.

    Saskatchewan RCMP, including the Warrant Enforcement and Suppression Team (WEST), is actively working to locate and arrest Desjarlais on his multiple outstanding warrants. Residents in the area may notice an increased police presence as a result of the efforts to arrest him.

    If you see Desjarlais, do not approach him. Report all sightings of him or information on his whereabouts to police immediately.

    Desjarlais is described as approximately 5’7″ tall and 130 lbs. He has brown eyes, short brown hair, and a short beard. He has tattoos of the words ‘public’ and ‘enemy’ with flames on his hands, and ‘Bonnie and Clyde’ tattooed on the right side of his neck.

    Report information to 310-RCMP. Information can also be submitted anonymously by contacting Saskatchewan Crime Stoppers at 1-800-222-TIPS (8477) or www.saskcrimestoppers.com.

    MIL Security OSI –

  • MIL-OSI United Nations: Secretary-General’s remarks at the Opening of the General Debate of the Seventy-ninth Session of the General Assembly [as delivered]

    Source: United Nations secretary general

    Mr. President of the General Assembly,

    Excellencies,

    Ladies and gentlemen,

    Our world is in a whirlwind.

    We are in an era of epic transformation – facing challenges unlike any we have ever seen – challenges that demand global solutions.

    Yet geo-political divisions keep deepening. The planet keeps heating.

    Wars rage with no clue how they will end.

    And nuclear posturing and new weapons cast a dark shadow.

    We are edging towards the unimaginable – a powder keg that risks engulfing the world.

    Meanwhile, 2024 is the year that half of humanity goes to the polls – and all of humanity will be affected.

    I stand before you in this whirlwind convinced of two overriding truths.

    First, the state of our world is unsustainable.

    We can’t go on like this.

    And second, the challenges we face are solvable.

    But that requires us to make sure the mechanisms of international problem-solving actually solve problems.

    The Summit of the Future was a first step, but we have a long way to go.

    Getting there requires confronting three major drivers of unsustainability.

    A world of impunity – where violations and abuses threaten the very foundation of international law and the UN Charter.

    A world of inequality – where injustices and grievances threaten to undermine countries or even push them over the edge.

    And a world of uncertainty – where unmanaged global risks threaten our future in unknowable ways.

    These worlds of impunity, inequality and uncertainty are connected and colliding.

    Excellencies,

    The level of impunity in the world is politically indefensible and morally intolerable.

    Today, a growing number of governments and others feel entitled to a “get out of jail free” card.

    They can trample international law.

    They can violate the United Nations Charter.

    They can turn a blind eye to international human rights conventions or the decisions of international courts.

    They can thumb their nose at international humanitarian law.

    They can invade another country, lay waste to whole societies, or utterly disregard the welfare of their own people.

    And nothing will happen.

    We see this age of impunity everywhere — in the Middle East, in the heart of Europe, in the Horn of Africa, and beyond.

    The war in Ukraine is spreading with no signs of letting up.

    Civilians are paying the price – in rising death tolls and shattered lives and communities.

    It is time for a just peace based on the UN Charter, on international law and on UN resolutions.

    Meanwhile, Gaza is a non-stop nightmare that threatens to take the entire region with it.

    Look no further than Lebanon.

    We should all be alarmed by the escalation. 

    Lebanon is at the brink. 

    The people of Lebanon – the people of Israel – and the people of the world — cannot afford Lebanon to become another Gaza.

    Let’s be clear.

    Nothing can justify the abhorrent acts of terror committed by Hamas on October 7th, or the taking of hostages – both of which I have repeatedly condemned.

    And nothing can justify the collective punishment of the Palestinian people.

    The speed and scale of the killing and destruction in Gaza are unlike anything in my years as Secretary-General.

    More than 200 of our own staff have been killed, many with their families.

    And yet the women and men of the United Nations continue to deliver humanitarian aid.

    I know you join me in paying a special tribute to UNRWA and to all humanitarians in Gaza.

    The international community must mobilize for an immediate ceasefire, the immediate and unconditional release of all hostages, and the beginning of an irreversible process towards a two-State solution.

    For those who go on undermining that goal with more settlements, more landgrabs, more incitement — I ask:

    What is the alternative?

    How could the world accept a one-state future in which a large a large number of Palestinians would be included without any freedom, rights or dignity?

    In Sudan, a brutal power struggle has unleashed horrific violence — including widespread rape and sexual assaults.

    A humanitarian catastrophe is unfolding as famine spreads.  Yet outside powers continue to interfere with no unified approach to finding peace.

    In the Sahel, the dramatic and rapid expansion of the terrorist threat requires a joint approach rooted in solidarity – but regional and international cooperation have broken down.

    From Myanmar to the Democratic Republic of the Congo to Haiti to Yemen and beyond – we continue to see appalling levels of violence and human suffering in the face of a chronic failure to find solutions.

    Meanwhile our peacekeeping missions are too often operating in areas where simply there is no peace to keep.

    Instability in many places around the world is a by-product of instability in power relations and geo-political divides.

    For all its perils, the Cold War had rules.

    There were hot lines, red lines and guard rails.

    It can feel as though we don’t have that today.

    Nor do we have a unipolar world.

    We are moving to a multipolar world, but we are not there yet.

    We are in a purgatory of polarity.

    And in this purgatory, more and more countries are filling the spaces of geopolitical divides, doing whatever they want with no accountability.

    That is why it is more important than ever to reaffirm the Charter, to respect international law, to support and implement decisions of international courts, and to reinforce human rights in the world.

    Anywhere and everywhere.

    Excellences, Mesdames et Messieurs,
     
    L’augmentation des inégalités est un deuxième facteur de l’insoutenabilité et une tache sur notre conscience collective.
     
    L’inégalité n’est pas une question technique ou bureaucratique.
     
    Au fond, l’inégalité est une question de pouvoir, aux racines historiques.
     
    Les conflits, les bouleversements climatiques et la crise du coût de la vie étendent ces racines historiques plus profondément encore.
     
    Dans le même temps, le monde peine encore à se relever de la flambée des inégalités engendrée par la pandémie.
     
    Si l’on regarde les 75 pays les plus pauvres du monde, un tiers d’entre eux se trouve aujourd’hui dans une situation pire qu’il y a cinq ans.
     
    Au cours de la même période, les cinq hommes les plus riches de la planète ont plus que doublé leurs fortunes.
     
    Et un pour cent des habitants de la planète détient 43 % de l’ensemble des avoirs financiers mondiaux.
     
    Au niveau national, certains gouvernements décuplent les inégalités en accordant des cadeaux fiscaux massifs aux entreprises et aux ultra-riches — au détriment des investissements dans la santé, l’éducation et la protection sociale.
     
    Et personne n’est plus lésé que les femmes et les filles du monde entier.
     
    Excellences,
     
    La discrimination et les abus généralisés fondés sur le genre constituent l’inégalité la plus répandue dans toutes les sociétés.
     
    Chaque jour, il semble que nous soyons confrontés à de nouveaux cas révoltants de féminicides, de violences fondées sur le genre et de viols collectifs – en temps de paix comme en tant qu’arme de guerre.
     
    Dans certains pays, les lois sont utilisées pour menacer la santé et les droits reproductifs.
     
    Et en Afghanistan, les lois sont utilisées pour entériner l’oppression systématique des femmes et des filles.
     
    Et je suis désolé de constater que, malgré des années de beaux discours, l’inégalité de genre se manifesteet je vous demande pardon de le dire, elle se manifeste aujourd’hui encore, pleinement dans cette enceinte.
     
    Moins de 10 pour cent des intervenants au Débat général de cette semaine sont des femmes.
     
    C’est inacceptable, surtout quand on sait que l’égalité entre les femmes et les hommes contribue à la paix, au développement durable, à l’action climatique et bien plus encore.
     
    C’est précisément pour cela nous avons pris des mesures spécifiques pour atteindre la parité hommes-femmes parmi les hauts responsables de l’Organisation des Nations Unies,objectif qui est déjà complété.
     
    C’est faisable.
     
    J’exhorte les institutions politiques et économiques du monde dominées par les hommes à le faire aussi.
     
    Excellences,
     
    Les inégalités mondiales se reflètent et se renforcent jusque dans nos propres organisations internationales.
     
    Le Conseil de sécurité des Nations Unies a été conçu par les vainqueurs de la Seconde Guerre mondiale.
     
    À l’époque, la majeure partie du continent africain était encore sous domination coloniale.
     
    À ce jour, l’Afrique n’a toujours aucun siège permanent au sein de la principale instance de paix du monde.
     
    Un changement s’impose.
     
    Il en va de même pour l’architecture financière mondiale, mise en place il y a 80 ans.
     
    Je félicite les dirigeants de la Banque mondiale et du Fonds monétaire international pour les mesures importantes qu’ils ont entreprises.
     
    Mais comme le souligne le Pacte pour l’avenir, la lutte contre les inégalités exige une accélération de la réforme de l’architecture financière internationale.
     
    Au cours des huit dernières décennies, l’économie mondiale s’est développée et transformée.
     
    Les institutions de Bretton Woods n’ont pas suivi le rythme.
     
    Elles ne sont plus en mesure de fournir un filet de sécurité mondial, ni d’offrir aux pays en développement le niveau de soutien dont ils ont tant besoin.
     
    Dans les pays les plus pauvres du monde, le coût des intérêts de la dette dépasse, en moyenne, le coût des investissements dans l’éducation, la santé et les infrastructures publiques réunis.
     
    Et à l’échelle du monde, plus de 80 % des cibles des Objectifs de développement durable ne sont pas en bonne voie.
    Excelencias,

    Volver al camino correcto requiere un aumento de financiamiento para la Agenda 2030 y el Acuerdo de París.

    Esto implica que los países del G20 lideren un Estímulo para los Objetivos de Desarrollo Sostenible de 500.000 millones de dólares al año.

    Implica reformas para aumentar sustancialmente la capacidad de préstamo de los Bancos Multilaterales de Desarrollo – y permitirles ampliar masivamente la financiación asequible a largo plazo para el clima y el desarrollo.

    Implica ampliar la financiación de contingencia mediante el reciclaje de los Derechos Especiales de Giro.

    E implica promover una reestructuración de la deuda a largo plazo.

    Excelencias,

    No me hago ilusiones sobre las barreras a la reforma del sistema multilateral.

    Los que tienen poder político y económico, o y los que creen tenerlo, son siempre reacios al cambio.

    Pero el status quo ya está agotando su poder.

    Sin reformas, la fragmentación es inevitable, y las instituciones globales perderán legitimidad, credibilidad y eficacia.

    Excellencies,

    The third driver of our unsustainable world is uncertainty.

    The ground is shifting under our feet.

    Anxiety levels are off the charts.

    And young people, in particular, are counting on us and seeking solutions.

    Uncertainty is compounded by two existential threats – the climate crisis and the rapid advance of technology — in particular, Artificial Intelligence.

    Excellencies,

    We are in a climate meltdown.

    Extreme temperatures, raging fires, droughts, and epic floods are not natural disasters.

    They are human disasters — increasingly fueled by fossil fuels.

    No country is spared. But the poorest and most vulnerable are hardest hit.

    Climate hazards are blowing a hole through the budgets of many African countries, costing up to five per cent of GDP – every year.

    And this is just the start.

    We are on course to careen past the global limit of a 1.5 degree temperature rise.

    But as the problem gets worse, solutions are getting better.

    Renewable prices are plummeting, roll-out is accelerating, and lives are being transformed by affordable, accessible clean energy.

    Renewables don’t just generate power. They generate jobs, wealth, energy security and a path out of poverty for millions.

    But developing countries cannot be plundered in that journey.

    Our Panel on Critical Minerals has recommended fair and sustainable ways to meet global demand for these resources, which are essential to the renewables revolution.

    Excellencies,

    A future without fossil fuels is certain.  A fair and fast transition is not.

    That is in your hands.

    By next year, every country must produce an ambitious new national climate action plan – or Nationally Determined Contributions.

    These must bring national energy strategies, sustainable development priorities, and climate ambitions together.

    They must align with the 1.5 degree limit, cover the whole economy, and contribute to every one of the COP28 energy transition targets.

    An International Energy Agency report released today breaks this down.

    By 2035, on average, advanced economies must slash energy emissions 80 per cent, and emerging markets 65 per cent.

    The G20 is responsible for 80 per cent of total emissions.

    They must lead the charge – keeping with the principle of common but differentiated responsibilities and respective capabilities in the light of different national circumstances.

    But this must be a joint effort — pooling resources, scientific capacities and proven and affordable technologies for all to be able to reach those targets.

    I’m honoured to be working closely with President Lula of Brazil – who is both G20 Chair and COP30 host – to secure maximum ambition, acceleration and cooperation. We just met for that purpose.

    Finance is essential.

    COP29 is around the corner.

    It must deliver a significant new finance goal.

    We also need a Loss and Damage Fund that meets the scale of the challenge – and developed countries meeting their adaptation finance promises.

    And we must finally flip the script on a crazy situation:

    We continue to reward polluters to wreck our planet.

    The fossil fuel industry continues to pocket massive profits and subsidies, while everyday people bear the costs of climate catastrophe – from rising insurance premiums to lost livelihoods.

    I call on G20 countries to shift money from fossil fuel subsidies and investments to a just energy transition;

    To put an effective price on carbon;

    And to implement new and innovative sources of financing – including solidarity levies on fossil fuel extraction – through legally-binding, transparent mechanisms.

    All by next year and this taking into account that those who shoulder the blame must foot the bill.

    Polluters must pay.

    Excellencies,

    The rapid rise of new technologies poses another unpredictable existential risk.

    Artificial Intelligence will change virtually everything we know — from work, education and communication, to culture and politics.

    We know AI is rapidly advancing, but where is it taking us:

    To more freedom – or more conflict?

    To a more sustainable world – or greater inequality?

    To being better informed – or easier to manipulate?

    A handful of companies and even individuals have already amassed enormous power over the development of AI – with little accountability or oversight for the moment.

    Without a global approach to its management, artificial intelligence could lead to artificial divisions across the board – a Great Fracture with two internets, two markets, two economies – with every country forced to pick a side, and enormous consequences for all.

    The United Nations is the universal platform for dialogue and consensus.

    It is uniquely placed to promote cooperation on AI – based on the values of the Charter and international law.

    The global debate happens here, or it does not happen.

    I welcome important first steps.

    Two resolutions in the General Assembly, the Global Digital Compact, and the recommendations of the High-Level Body on AI can lay the foundations for inclusive governance of AI.

    Let’s move forward together to make AI a force for good.

    Excellencies,

    Nothing lasts forever.

    But a feature of human life is that it appears otherwise.

    The current order always feels fixed.

    Until it is not.
     
    Across human history, we see empires rising and falling; old certainties crumbling; tectonic shifts in global affairs.
     
    Today our course is unsustainable.

    It is in all our interests to manage the epic transformations underway; to choose the future we want and to guide our world towards it.

    Many have said that the differences and divisions today are just too great.

    That it is impossible for us to come together for the common good.

    You proved that is not true.

    The Summit of the Future showed that with a spirit of dialogue and compromise, we can join forces to steer our world to a more sustainable path.

    It is not the end.

    It is a start of a journey, a compass in the whirlwind.

    Let’s keep going.

    Let’s move our world towards less impunity and more accountability …. less inequality and more justice … less uncertainty and more opportunity.

    The people of the world are looking to us – and succeeding generations will look back on us.

    Let them find us on the side of the United Nations Charter … on the side of our shared values and principles … and on the right side of history.

    I thank you.

    MIL OSI United Nations News –

  • MIL-OSI Canada: Weekly Update on the Government’s Economic Plan

    Source: Government of Canada News

    The Deputy Prime Minister and Minister of Finance will provide an update on the government’s economic plan. She will be joined by the Minister of Public Services and Procurement, Jean-Yves Duclos, and the Minister of Housing, Infrastructure and Communities, Sean Fraser.

    Ottawa, Ontario – The Deputy Prime Minister and Minister of Finance will provide an update on the government’s economic plan. She will be joined by the Minister of Public Services and Procurement, Jean-Yves Duclos, and the Minister of Housing, Infrastructure and Communities, Sean Fraser.

    Notes for media:

    • Open coverage.
    • Media wishing to cover the event must be accredited with the Parliamentary Press Gallery.
    • Media wishing to cover the event are asked to contact mediare@fin.gc.ca.

    Date

    September 24, 2024

    Time

    9:00 a.m.

    Contacts

    Katherine Cuplinskas
    Deputy Director of Communications
    Office of the Deputy Prime Minister and Minister of Finance
    katherine.cuplinskas@fin.gc.ca

    Media Relations
    Department of Finance Canada
    mediare@fin.gc.ca
    613-369-4000 

    MIL OSI Canada News –

  • MIL-OSI China: 21st China-ASEAN Expo kicks off in Nanning

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

    21st China-ASEAN Expo kicks off in Nanning

    Updated: September 24, 2024 21:59 Xinhua
    Visitors select products during the 21st China-ASEAN Expo at Nanning International Convention and Exhibition Center in Nanning, south China’s Guangxi Zhuang Autonomous Region, Sept. 24, 2024. The 21st China-ASEAN Expo and the China-ASEAN Business and Investment Summit kicked off on Tuesday in Nanning. [Photo/Xinhua]
    Visitors select products during the 21st China-ASEAN Expo at Nanning International Convention and Exhibition Center in Nanning, south China’s Guangxi Zhuang Autonomous Region, Sept. 24, 2024. [Photo/Xinhua]
    Visitors select products during the 21st China-ASEAN Expo at Nanning International Convention and Exhibition Center in Nanning, south China’s Guangxi Zhuang Autonomous Region, Sept. 24, 2024. [Photo/Xinhua]
    An exhibitor introduces agarwood during the 21st China-ASEAN Expo at Nanning International Convention and Exhibition Center in Nanning, south China’s Guangxi Zhuang Autonomous Region, Sept. 24, 2024. [Photo/Xinhua]
    An exhibitor sells products during the 21st China-ASEAN Expo at Nanning International Convention and Exhibition Center in Nanning, south China’s Guangxi Zhuang Autonomous Region, Sept. 24, 2024. [Photo/Xinhua]
    This photo shows a view of Nanning International Convention and Exhibition Center in Nanning, south China’s Guangxi Zhuang Autonomous Region, Sept. 24, 2024. [Photo/Xinhua]
    This photo shows a view of Nanning International Convention and Exhibition Center in Nanning, south China’s Guangxi Zhuang Autonomous Region, Sept. 24, 2024. [Photo/Xinhua]
    A visitor selects products during the 21st China-ASEAN Expo at Nanning International Convention and Exhibition Center in Nanning, south China’s Guangxi Zhuang Autonomous Region, Sept. 24, 2024. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI USA: Testimony of the Securities and Exchange Commission Before the United States House of Representatives Committee on Financial Services

    Source: Securities and Exchange Commission

    Good morning, Chairman McHenry, Ranking Member Waters, and members of Committee. Thank you for the opportunity to testify before you today about the work of the U.S. Securities and Exchange Commission.

    The SEC at 90 Years

    At the SEC, we celebrated our 90th birthday earlier this year.

    In the aftermath of the 1929 market crash and the frauds, scams, and other observed problems in the securities markets, President Franklin Roosevelt came together with Congress to enact a series of securities laws in the 1930s and set up the SEC. Congress and Roosevelt understood how vital capital markets are to investors, issuers, and a dynamic and growing economy.

    Today, the SEC oversees the capital markets and works to deter and prevent fraud and manipulation, as well as helps ensure that investment advisers carry out their duties to their clients, and that companies and entrepreneurs can access the capital they need to succeed. The SEC is also the cop on the beat watching out for the investing public and issuers.

    The SEC is a remarkable agency. We serve investors building for a better future and issuers raising money to fund innovation, while overseeing the capital markets where they meet. The essence of this is captured in our three-part mission to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.

    Growth and Change in the Markets

    Today, the more than $100 trillion U.S. capital markets[1] are the deepest, most liquid in the world. To put these figures in context, the assets of the entire U.S. banking system add up to about $23 trillion.[2]

    Comprising approximately 40 percent of the world’s capital markets,[3]  U.S. capital markets outpace our roughly 24 percent of the world’s economy.[4] The U.S. capital markets also play an integral role in the dollar’s dominance.

    Everyday investors benefit from the U.S. capital markets. Their investment portfolios fund home purchases, college educations, and retirements. About 58 percent of U.S. households own stocks either directly or indirectly.[5] More than half of American households, representing nearly 121 million individual investors, own registered funds.[6]

    Today, registered investment advisers advise 57 million clients.[7] This includes advising on more than $37 trillion in registered funds,[8] $27 trillion in private funds,[9] and $49 trillion in separately managed accounts.[10]

    We oversee approximately 40,000 entities—including approximately 13,000 registered funds, approximately 15,400 investment advisers, about 3,400 broker-dealers, 25 national securities exchanges, 108 alternative trading systems, 10 credit rating agencies, and six active registered clearing agencies, among other external entities. The SEC oversees the Financial Industry Regulatory Authority (FINRA), the Municipal Securities Rulemaking Board (MSRB), and the Securities Investor Protection Corporation (SIPC). In addition, the Commission provides oversight over standard-setting and rulemaking by the Public Company Accounting Oversight Board (PCAOB) and the Financial Accounting Standards Board (FASB).

    SEC Organization and Staff

    To fulfill its mission, the SEC is organized around six divisions and 24 offices located in 11 regional locations[11] as well as our Washington, D.C., headquarters. We currently have 4,893 staff on board,[12] representing only a 5 percent increase from 2016 when we had 4,650 staff.

    The SEC staff in 2023 rated us among the best places to work in the federal government; we ranked third among midsized agencies for the second year in a row.[13] Our attrition this fiscal year is at historically low levels, so far averaging around 3 percent at an annualized rate.

    The SEC’s funding is deficit neutral. While the congressional appropriations process determines the SEC’s budget, the SEC collects fees on stock and other securities transactions to offset the appropriations.[14]

    For FY 2024 the SEC budget is $2.15 billion, remaining the same as it was in FY 2023. At the start of FY 2024, we paused nearly all job postings and backfilling for departing staff.

    In fiscal years 2021 through 2024, we will have shed 299,000 usable square feet from the SEC’s real estate footprint. As a result of these reductions over the last three years, we expect to save approximately $20 million in FY 2025. We will continue looking for opportunities to achieve cost savings across our leasing footprint and in other ways in the years to come.

    The rest of this testimony will describe the work of the six divisions. For the programmatic divisions, we will review certain rules that were implemented, adopted, or proposed in the last year.[15]

    Corporation Finance

    The Division of Corporation Finance seeks to ensure that investors have access to the information they need to make informed investment and voting decisions when a company offers its securities to the public, and on an ongoing basis as companies continue to provide information to the marketplace. The Division also provides interpretive assistance to companies with respect to compliance with SEC rules and forms and makes recommendations to the Commission regarding new rules and revisions to existing rules.

    The Division reviews the disclosures and financial statements of reporting companies to monitor and enhance compliance with disclosure and accounting requirements under the federal securities laws and Commission rules.

    In FY 2023, there were approximately 7,400 actively reporting issuers subject to oversight by the Division’s Disclosure Review Program, of which more than 4,000 were listed on U.S. exchanges.[16] Further, in FY 2023, the Division reviewed the filings of more than 3,700 reporting companies and new issuers.[17]  

    The Division has worked on a number of proposed and final rules in the last year.[18]

    In December 2023, rules began to be implemented requiring registrants to disclose material cybersecurity incidents they experience as well as to disclose on an annual basis material information regarding their cybersecurity risk management, strategy, and governance.[19]

    In November 2023, as mandated by Congress in the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), the Commission adopted rules regarding conflicts of interest in the securitization market.[20] Compliance with these rules is required starting in June 2025.

    In July 2024, rules were implemented regarding disclosures by special purpose acquisition companies (SPACs), both when going public as well as when engaging in a business combination transaction with a target company (de-SPAC transactions).[21]

    In March 2024, the Commission adopted rules to standardize climate-related risk disclosures by public companies and in public offerings.[22] The Commission stayed these rules pending the completion of judicial review.[23]

    The Commission also has adopted rules related to corporate governance. As mandated by Congress in the Dodd-Frank Act, exchange listing rules on clawbacks of executive compensation were implemented in 2023, with corresponding issuer disclosure requirements beginning in 2024.[24] Updated rules regarding how corporate insiders trade their own company’s stock have been phased in starting in April 2023.[25] In October 2023, the Commission adopted rules shortening the deadlines by which beneficial owners must inform the public of their position, with compliance beginning in February 2024.[26] Lastly, in August 2024, consistent with Congress’s mandate in the Financial Data Transparency Act of 2022, the SEC, together with eight other federal financial regulators, proposed joint data standards for data submitted to the nine financial regulators to promote the interoperability of financial regulatory data.[27]

    Investment Management

    The Division of Investment Management has primary responsibility for administering the Investment Company Act of 1940 and Investment Advisers Act of 1940. In administering the Investment Company Act, the Division develops regulatory policy for investment companies, which include mutual funds, money market funds, closed-end funds, business development companies, unit investment trusts, variable insurance products, and exchange-traded funds.

    The Division also develops regulatory policy as applicable to investment advisers, including advisers to registered investment companies, separately managed accounts, and, in certain cases, to private funds.

    In FY 2023, Division staff reviewed more than 1,900 filings related to more than 4,400 funds and insurance products. Staff also reviewed annual reports—including financial statements—from more than 4,200 funds.[28]

    The Division worked on a number of rulemakings in the last year.[29]

    The Commission adopted amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds.[30] Rules requiring that large hedge fund and private equity fund advisers make current reports on certain events to the Commission were implemented in June 2024. A joint rule with the Commodity Futures Trading Commission (CFTC) to enhance the amount of information the agencies receive from all Form PF filers was adopted in February 2024 and will be implemented in March 2025.[31]

    In August 2024, the Commission adopted amendments to reporting requirements on Form N-PORT.[32] Funds generally will be required to comply with the amendments for reports filed on or after November 17, 2025, except fund groups with net assets of less than $1 billion have until May 18, 2026.

    In May 2024, the Commission finalized amendments to Regulation S-P that will require covered firms to notify their customers of data breaches that might put their personal information at risk.[33] Such covered firms include broker-dealers (including funding portals), investment companies, registered investment advisers, and transfer agents. Larger entities will have to comply in December 2025 and smaller entities in June 2026. The Division of Trading and Markets also worked on these rules.

    In July 2023, the Commission adopted amendments to update the regulations for governing money market funds.[34] There is a staggered transition period for funds to come into compliance, with full implementation to be complete in October 2024.

    In September 2023, the Commission adopted amendments to the Investment Company Act “Names Rule” to address fund names that could mislead investors about a fund’s investments and risks.[35] Compliance will be phased in based on fund size, with larger funds required to comply in December 2025 and smaller funds in June 2026.

    In July 2024, the Commission implemented a Congressional mandate to provide a tailored form to register the offerings of registered index-linked annuities.[36] Filers will have until May 1, 2026, to comply with most of the final amendments, and insurance companies will be able to use the tailored form in September 2024.

    Rules regarding the updating of funds’ shareholder reports were implemented in July 2024.[37]

    Rules to govern proxy voting information reported on Form N-PX were implemented in August 2024.[38]

    The Divisions of Investment Management and Trading and Markets are considering recommending that the Commission re-propose rules regarding conflicts of interest in the use of predictive analytics by brokers and advisers.[39] Further, the Division of Investment Management is considering recommending that the Commission repropose rules regarding the custody of funds or investments of clients as well as changes to regulatory requirements relating to open-end funds’ liquidity and dilution management.

    In May 2024, the Commission and U.S. Department of the Treasury’s Financial Crimes Enforcement Network jointly proposed rules requiring customer identification programs for Commission-registered investment advisers and exempt reporting advisers.[40]

    In addition to these rules, the Division also is implementing an initiative to add to the aggregate public data published by the SEC. First, earlier this year, it began publishing the Registered Fund Statistics report, which aggregates data about the registered fund industry.[41] Second, in May, the Division began publishing a new report based on aggregated data filed by investment advisers on Form ADV, providing statistics on the investment advisory industry and showing trends over time.[42] Third, in July, it updated and enhanced public reporting of data regarding hedge funds, private equity funds, and other private funds from Form PF. The report provides the public with information about the leverage, borrowing, and other activities of this rapidly growing sector.

    Trading and Markets

    The Division of Trading and Markets works to maintain fair, orderly, and efficient markets. Market monitoring and supervision are essential parts of the Division’s activity—especially during times of market stress. Transaction volume in listed equities has doubled in the last five years and tripled in the last 17 years.[43]

    The Division oversees 25 national securities exchanges, 108 alternative trading systems, about 3,400 broker-dealers, 53 security-based swap dealers, six active registered clearing agencies, and more than 300 transfer agents, among other entities.

    In FY 2023, the Division responded to more than 16,000 public inquiries. In FY 2023, the Division also reviewed more than 660 filings from broker-dealers as well as more than 1,700 self-regulatory organization proposed rule changes and advance notices.[44]

    In the last year, with respect to rulemaking, the Division was primarily focused on market structure for the equity and Treasury markets as well as implementing rules mandated by Congress through the Dodd-Frank Act. 

    In terms of equity market structure, last week the Commission adopted amendments to certain rules under Regulation NMS to adopt an additional minimum pricing increment, or “tick size,” for the quoting of certain NMS stocks, reduce the access fee caps for protected quotations of trading centers, increase the transparency of exchange fees and rebates, and accelerate the implementation of rules that will make information about the market’s best priced, smaller-sized orders publicly available.[45]

    On May 28, 2024, much of the U.S. markets (equities, corporate bonds, municipals, etc.) successfully aligned its settlement cycle with the Treasury markets at T+1.[46] In March 2024, the Commission adopted amendments to Rule 605 that enhance disclosure requirements for order execution quality.[47] Large broker-dealers—those with more than 100,000 customers—will have to disclose execution quality to the public. Compliance with these amendments to Rule 605 will begin in December 2025. The Commission also is continuing to review comments on other rule proposals related to the equities markets.[48]

    As for Treasury markets, in December 2023 the Commission adopted rules to facilitate additional central clearing for the $27 trillion U.S. Treasury markets.[49] By March 2025, Treasury clearinghouses must separate proprietary margin from customer margin and further facilitate access to central clearing. Starting at the end of 2025, certain cash transactions will have to be cleared. Starting in June 2026, certain repo and reverse repo transactions must be cleared. In February 2024, the Commission adopted final rules further defining a dealer and government securities dealer.[50] Further, rules are being implemented this month that will update and narrow the circumstances in which broker-dealers are exempt from registering with a national securities association.[51]

    The Commission also worked to finalize Congressionally mandated Dodd-Frank rules. Entities subject to rules creating a regime for the registration and regulation of security-based swap execution facilities (SBSEFs) were required to begin complying in August 2024.[52] Further, antifraud rules related to security-based swap transactions were implemented in August of 2023.[53] In October 2023, the Commission adopted rules regarding the reporting of short sale [54] and securities lending related data.[55]

    The Commission also adopted rules in November 2023 relating to the governance and use of outside service providers by clearinghouses, and compliance will be phased in during December 2024 and December 2025.[56]

    Finally, rules related to the electronic recordkeeping of broker-dealers were phased in beginning in May 2023, to be completed in November 2024.[57]

    Economic and Risk Analysis

    The Division of Economic and Risk Analysis (DERA) includes economists, statisticians, data scientists and engineers, attorneys, accountants, and other staff. These experts provide support to every aspect of the Commission’s mission from rulemaking to enforcement.

     DERA provides economic analyses that consider the costs and benefits of our rules as well as their effects on efficiency, competition, and capital formation. In conducting the economic analysis, DERA staff work closely with staff from the divisions, from the earliest stages of policy development through the finalization of a particular rule.

    The Commission receives feedback from the public on these economic analyses, which benefits our rulemaking.

    DERA also supports the Commission’s examination and enforcement functions by helping to identify securities law violations, quantify harm to investors, calculate ill-gotten gains, and assist enforcement with returning funds to harmed investors.

    Finally, DERA assists the Commission in its efforts to identify, analyze, and respond to economic and market issues, including those related to new financial products, investment and trading strategies, systemic risk, and fraud.

    Examinations

    The Division of Examinations serves a critical role in helping firms to comply with the law.

    In FY 2023, Division staff conducted more than 3,100 examinations across our tens of thousands of registrants. From investment advisers to broker-dealers to exchanges, the Division helps ensure that registrants are following their legal obligations to customers and clients, including seniors and other vulnerable investors.

    Importantly, the Division is the first line of defense for the investing public relying on investment advisers. It is responsible for examining and overseeing a growing registrant population, including more than 15,400 investment advisers and approximately 800 investment company complexes.

    The Division issues risk alerts that summarize examination observations and preview potential examination scope areas focusing on compliance with new rules. The Division also promotes compliance by regularly engaging with the industry and investors through its national and regional outreach events.

    Further, the Division works in parallel with SROs to examine the more than 3,300 broker-dealers with roughly 150,000 branch offices.

    Enforcement

    The work of the Division of Enforcement is central to the SEC’s investor protection role. The Division conducts investigations into possible violations of the federal securities laws and litigates enforcement actions in the federal courts and in administrative proceedings. In addition to monetary remedies designed to remove wrongdoers’ ill-gotten gains and deter future violations, the Commission’s enforcement actions protect investors by obtaining remedial injunctions in district court and, similarly, remedial suspensions and bars in administrative proceedings.

    In FY 2023, the Division brought 784 enforcement actions that resulted in orders for $4.9 billion in penalties and disgorgement. When feasible, the civil penalties and disgorgement obtained in the Commission’s civil enforcement actions are returned to harmed investors, and the SEC distributed $930 million to harmed investors in FY 2023.[58] Further, in FY 2023, the SEC received more than 40,000 separate tips, complaints, and referrals from whistleblowers and others, up from about 16,700 in 2019.

    Other Offices

    The SEC has an Office of the General Counsel, which provides legal analysis and advice to the Commission and its divisions and offices on all aspects of the Commission’s activities. The other offices include: Office of the Chief Accountant, Office of Investor Education and Advocacy, Office of International Affairs, Office of the Investor Advocate, Office of Credit Ratings, Office of Municipal Securities, Office of the Advocate for Small Business Capital Formation, and Strategic Hub for Innovation and Financial Technology.

    Conclusion

    Thank you for the opportunity to testify today and for the Committee’s support of the SEC, its mission, and its people.  

    [11] When the Salt Lake City office closes in FY 2025, there will be 10 regional offices.

    [12] Staff onboard as of Sept. 6, 2024.

    [15] In addition to the rules detailed within the Divisions, rules to revise the Commission’s regulations under the Privacy Act were implemented in October 2023. See Securities and Exchange Commission, “SEC Approves Revised Privacy Act Rule” (Sept. 20, 2023), available at https://www.sec.gov/newsroom/press-releases/2023-189. Rules strengthening and modernizing the Commission’s ethics compliance program were implemented in March 2024. See Securities and Exchange Commission, “SEC Updates Ethics Rules Governing Securities Trading by Agency Personnel” (Feb. 22, 2024), available at https://www.sec.gov/newsroom/press-releases/2024-25.

    [16] Approximately 52 percent of those 7,400 issuers self-identified as smaller reporting companies, emerging growth companies, or both. See 17 CFR 240.12b-2 (defining the terms “smaller reporting company” and “emerging growth company”).

    [18]In May 2023, the SEC adopted a rule related to stock buybacks. The U.S. Court of Appeals for the Fifth Circuit subsequently vacated the rule in December 2023. In addition, in July 2022, the SEC rescinded certain rules applicable to proxy voting advice that the Commission had previously adopted in 2020. The U.S. Court of Appeals for the Fifth Circuit vacated portions of the SEC’s 2022 rescission in June 2024, and the U.S. Court of Appeals for the Sixth Circuit upheld the SEC’s 2022 rescission in September 2024.

    [29] In addition to the rules detailed, the Commission adopted in March 2024 rules relating to internet advisers, which will be implemented in March 2025. See Securities and Exchange Commission, “SEC Adopts Reforms Relating to Investment Advisers Operating Exclusively Through the Internet” (March 27, 2024), available at https://www.sec.gov/newsroom/press-releases/2024-42. Further, rule amendments requiring the electronic filing of certain documents previously submitted on paper by investment advisers and others were implemented in February and June of 2023. https://www.sec.gov/newsroom/press-releases/2022-113. In August 2023, the SEC adopted rules regarding private fund advisers. The U.S. Court of Appeals for the Fifth Circuit subsequently vacated the rule in June 2024.

    [32] See Securities and Exchange Commission, “SEC Adopts Reporting Enhancements for Registered Investment Companies and Provides Guidance on Open-End Fund Liquidity Risk Management Programs” (Aug, 28, 2024), available at  https://www.sec.gov/newsroom/press-releases/2024-110.

    [38] See Securities and Exchange Commission, “SEC Adopts Rules to Enhance Proxy Voting Disclosure by Registered Investment Funds and Require Disclosure of “Say-on-Pay” Votes for Institutional Investment Managers” (Nov. 2, 2022), available at https://www.sec.gov/newsroom/press-releases/2022-198.

    [48] See Securities and Exchange Commission, “SEC Proposes Rule to Address Volume-Based Exchange Transaction Pricing for NMS Stocks” (Oct. 18, 2023), available at  https://www.sec.gov/newsroom/press-releases/2023-225. See also Securities and Exchange Commission, “SEC Proposes Rules to Amend Minimum Pricing Increments and Access Fee Caps and to Enhance the Transparency of Better Priced Orders” (Dec. 14, 2022), available at https://www.sec.gov/newsroom/press-releases/2022-224. See also Securities and Exchange Commission, “SEC Proposes Regulation Best Execution” (Dec. 14, 2022), available at https://www.sec.gov/newsroom/press-releases/2022-226. See also Securities and Exchange Commission, “SEC Proposes Rule to Enhance Competition for Individual Investor Order Execution” (Dec. 14, 2022), available at  https://www.sec.gov/newsroom/press-releases/2022-225.  

    [57] See Securities and Exchange Commission, “SEC Adopts Rule Amendments to Modernize How Broker-Dealers Preserve Electronic Records and Enhance the Electronic Recordkeeping Requirements for Security-Based Swap Entities” (Oct. 12, 2022), available at https://www.sec.gov/newsroom/press-releases/2022-187.

    MIL OSI USA News –

  • MIL-OSI: Form 8.3 – AXA INVESTMENT MANAGERS: REA Group Ltd

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: AXA Investment Managers S.A.
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		  
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 REA Group Ltd
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 23 September 2024
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 YES
    Rightmove plc

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: Ordinary NPV
      Interests Short positions
      Number % Number %
    (1)   Relevant securities owned and/or controlled: 11,799 0.01    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 11,799 0.01    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    Ordinary NPV Purchase 4 AUD 194

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
             

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit
             

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
           

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
    None

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 24 September 2024
    Contact name: Sabrina AID
    Telephone number*: +33 1 44 45 58 79

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    *If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel’s Market Surveillance Unit.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI USA: Biden-Harris Administration Announces Nearly $715 Million to Help Communities Across the Nation Build Resilience to Flooding Disasters Through Investing in America Agenda

    Source: US Federal Emergency Management Agency

    Headline: Biden-Harris Administration Announces Nearly $715 Million to Help Communities Across the Nation Build Resilience to Flooding Disasters Through Investing in America Agenda

    Biden-Harris Administration Announces Nearly $715 Million to Help Communities Across the Nation Build Resilience to Flooding Disasters Through Investing in America Agenda

    WASHINGTON — Extreme weather events are becoming more frequent and more severe due to climate change leading to increased response and recovery missions across the nation. Today, FEMA Administrator Deanne Criswell said during Climate Week NYC that the agency will announce approximately $715 million in new project selections to eliminate or reduce flood damage supported by historic funding from the Biden-Harris Administration’s Investing in America Agenda. The funding, which comes through FEMA’s Flood Mitigation Assistance program will help communities across the nation enhance resilience to extreme weather events. 

    The Biden-Harris Administration has provided record funding to this program thanks to Bipartisan Infrastructure Law funding for the Flood Mitigation Assistance program. Total funding for project selections increased nearly five times from the amount available—$160 million—for the FY21grant cycle before the law. In total, funding from this legislation over five years for the Flood Mitigation Assistance program is $3.5 billion.

    “Flooding is already the nation’s most costly and frequent disaster and climate change is only making it worse,” said FEMA Administrator Deanne Criswell. “Additional funding from the Bipartisan Infrastructure Law is providing communities more critical resources to withstand increasing flood threats. Whether it’s elevating or acquiring flood-prone properties, these dollars are going to make communities more prepared and reduce disaster suffering for future generations.” 

    “As flooding occurs more frequently and with greater severity, flood mitigation is more important than ever,” said Secretary of Homeland Security Alejandro N. Mayorkas. “For 30 years, FEMA’s Flood Mitigation Assistance grant program has provided communities with access to federal support to protect against flood risk. Through the funding announced today, FEMA will continue to help states, local communities, Tribal Nations and territories analyze their risk of flooding and take forward-looking steps to protect their communities before a disaster strikes.”

    Through this program, FEMA provides funding to states, local communities, Tribal Nations and territories to reduce or eliminate the risk of repetitive flood damage to buildings insured under the National Flood Insurance Program. There are three categories of funding which include: 

    • Capability and Capacity Building Activities, such as project scoping to develop project plans and design.
    • Localized Flood Risk Reduction Projects, which help build resilience to flooding at the community level, including floodplain management, wetland, marsh, riverine and coastal restoration and protection.
    • Individual Flood Mitigation Projects, which protect individual homes and buildings from flooding, including by buying out or elevating properties above flood levels.

    Today’s selections further underscore the Biden-Harris Administration’s commitment to environmental justice by assisting the most disadvantaged communities in building resilience to climate change and extreme weather events. Aligning with the President’s Justice40 Initiative, these efforts will advance the goal that 40% of the overall benefits of certain covered federal investments go to disadvantaged communities that are marginalized by underinvestment and overburdened by pollution.  For this cycle, FEMA almost tripled the amount of funding for disadvantaged communities from 16% in FY21 to more than 50% for a total of $367 million. 

    The announcement also aligns with FEMA’s 2024 Year of Resilience campaign, as well as the goals of the National Climate Resilience Framework and will help build capacity to withstand tomorrow’s hazards. As part of FEMA’s strategic goal to promote and sustain a ready nation, FEMA enhanced geographic distributions with more than 60 new selections.

    This is the 30th anniversary of the Flood Mitigation Assistance program, created in 1994. Approximately $2 billion has been obligated by FEMA to address the nation’s costliest annual disaster.

    The selections complement a July announcement of $1 billion through FEMA’s Building Resilient Infrastructure and Communities program and a recent $300 million in funding through Flood Mitigation Assistance’s Swift Current opportunity—another important part of the President’s Investing in America Agenda—to make the nation more resilient to natural hazards. Both programs provide climate resilience funding to help address increased demand for federal funds to address the climate crisis. 

    Flood Mitigation Assistance

    More than 775 buildings will be protected to prevent future strain on homeowners and reduce future claims payments from the National Flood Insurance Program.

    The number of projects selected by state with approximate totals:

    State or Territory Number of Projects Selected Total Funding for Projects Selected (rounded)
    Alabama 5 $19.1 million
    Arizona 5 $5.9 million
    California 3 $51.8 million
    Connecticut 8 $2.6 million
    Florida 33 $20.7 million
    Illinois 2 $27.2 million
    Iowa 3 $14.1 million
    Kansas 1 $254,000
    Kentucky 4 $1.6 million
    Louisiana 31 $206 million
    Maryland 2 $851,000
    Massachusetts 1 $646,000
    Missouri 1 $2 million
    New Jersey 12 $41.6 million
    New York 9 $5.8 million
    North Carolina 11 $23.4 million
    Ohio 5 $24.7 million
    Oregon 3 $20 million
    Pennsylvania 4 $832,000
    South Carolina 4 $1.9 million
    South Dakota 1 $5.3 million
    Texas 43 $236 million
    Utah 2 $599,000
    Washington 3 $1.4 million
    West Virginia 1 $202,000

    All 197 projects are in National Flood Insurance Program-participating communities in 25 states. In addition to flood control activities, the selections will reduce risk to individual properties through actions like elevations, acquisitions and mitigation reconstruction of buildings insured by NFIP. 

    Examples of project selections that address community flood risk for the purpose of reducing NFIP flood claim payments include:

    • The Pacific Avenue storm mitigation project in Wildwood, New Jersey, aims to address street flooding. The flood-prone area will benefit from a redesigned stormwater management system. A new pump station will manage stormwater runoff to ensure efficient drainage. 
    • St. John the Baptist Parish in Louisiana plans to elevate 132 flood-prone homes to reduce future damage and minimize flood insurance claims. The parish will elevate structures to at least 2 feet above Base Flood Elevation. 
    • The city of Moab, Utah, will mitigate flood risks by improving two detention basins, White Canyon and Johnson Canyon, both of which pose significant flood risks. The project includes building improved spillways to protect downstream properties.
    • The Arizona Department of Game and Fish will develop alternative designs to address safety risk to the Black Canyon Dam. The solution will improve the safety for nearly 200 downstream structures. 

    Approximately 51% of this cycle’s Flood Mitigation Assistance project selections will go to disadvantaged communities, an increase of 18% from last year’s cycle. Examples of these community-wide projects funded areas include:

    • Belhaven, North Carolina will reduce flooding in communities vulnerable to wind-driven tides and severe weather by installing pumps and an automated tidal gate along Wynne’s Gut.  The system aims to mitigate the number of repetitive property losses. The tidal gate will prevent tidal water from entering, while the pump station will discharge rainfall runoff, ensuring a quicker recovery for essential community lifelines.
    • Jefferson County, Texas will address severe flooding in three vulnerable areas serviced by storm sewers, ditches, channels and detention basins. The solution includes enhancing drainage to the Neches River.
    • In Kansas, the Unified Government of Wyandotte County and Kansas City will advance its floodplain management program to prevent or reduce the risk of flooding. One goal is to improve the unified government’s Community Rating System class, a voluntary incentive program that recognizes and encourages community floodplain management practices that exceed the minimum requirements of the National Flood Insurance Program. An enhanced floodplain management program will not only help to reduce disaster suffering but also provide discounts to flood insurance policyholder premiums through the improved Community Rating System class.

    For more information, visit FEMA.gov.

    amy.ashbridge

    MIL OSI USA News –

  • MIL-OSI: Oportun Announces $306 Million Committed Warehouse Facility Extension

    Source: GlobeNewswire (MIL-OSI)

    SAN CARLOS, Calif., Sept. 23, 2024 (GLOBE NEWSWIRE) — Oportun (Nasdaq: OPRT), a mission-driven financial services company, today announced the closing of an amendment and extension to its long-term warehouse facility. Features of this facility include:

    • $306 million total commitment
    • Goldman Sachs as senior lender – and Jefferies, as mezzanine lender – both existing, longstanding lenders to Oportun
    • A new two-year revolving period
    • Collateralized by Oportun’s unsecured and secured personal loan originations

    “This warehouse facility extension expands on Oportun’s longstanding lending relationships”, said Jonathan Coblentz, Chief Financial Officer of Oportun. “With the support of our lenders at Goldman Sachs and Jefferies, this committed financing will help drive Oportun’s responsible growth in the years ahead.”

    Oportun maintains a diverse set of capital sources including committed warehouse facilities, asset-backed securitizations, corporate-level debt financing, and whole loan sales.

    About Oportun

    Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members’ financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $18.7 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members save an average of more than $1,800 annually. For more information, visit Oportun.com.

    About Goldman Sachs

    Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

    About Jefferies

    Jefferies (NYSE: JEF) is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research, wealth, and asset management services. With more than 40 offices around the world, we offer insights and expertise to investors, companies and governments. For more information: www.jefferies.com.

    Investor Contact
    Dorian Hare
    (650) 590-4323
    ir@oportun.com

    Media Contact
    Michael Azzano
    Cosmo PR for Oportun
    michael@cosmo-pr.com
    (415) 596-1978

    The MIL Network –

  • MIL-OSI USA: Lummis, Thune Pressure “Broadband Czar” Harris on Mismanagement of Federal Initiatives

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    Washington, D.C—U.S. Senator Cynthia Lummis (R-WY) joined U.S. Senator John Thune (R-SD), in sending a letter to Vice President Kamala Harris regarding her egregious mismanagement of federal broadband initiatives. In 2021, President Biden assigned the Vice President to lead broadband service expansion to rural and unserved communities. Under Harris’ reign as “Broadband Czar,” the $42 billion Broadband Equity, Access, and Deployment (BEAD) program has gone untouched, failing to connect a single person to the internet. The lack of broadband access is especially hurting our most rural states like Wyoming.

    “The digital divide is most apparent in the Cowboy State’s most rural communities, and it is past time for the broadband czar to do her job and use the BEAD program to eliminate the difficulties people in Wyoming face when trying to access reliable broadband services. It is critical for Kamala Harris to prioritize deploying broadband throughout the west,” said Lummis.

    For a copy of the letter, click here. The text is below.

    Dear Vice President Harris:

    We are writing to express serious concerns regarding your role as the Biden-Harris administration’s “broadband czar” and the mismanagement of federal broadband initiatives under your leadership. It appears that your performance as “broadband czar” has mirrored your performance as “border czar,” marked by poor management and a lack of effectiveness despite significant federal broadband investments and your promises to deliver broadband to rural areas.  

    As you are aware, Congress, through the Infrastructure Investment and Jobs Act, provided the National Telecommunications and Information Administration with $42.45 billion for the Broadband, Equity, Access, and Deployment (BEAD) program. These funds are intended to provide broadband access to unserved communities, particularly those in rural areas.

    In 2021, you were specifically tasked by President Biden to lead the administration’s efforts to expand broadband services to unserved Americans. And at the time, you stated, “we can bring broadband to rural America today.” Despite your assurances over three years ago, rural and unserved communities continue to wait for the connectivity they were promised. Under your leadership, not a single person has been connected to the internet using the $42.45 billion allocated for the BEAD program. Indeed, Politico recently reported on “the messy, delayed rollout of” this program.

    Instead of focusing on delivering broadband services to unserved areas, your administration has used the BEAD program to add partisan, extralegal requirements that were never envisioned by Congress and have obstructed broadband deployment. By imposing burdensome climate change mandates on infrastructure projects, prioritizing government-owned networks over private investment, mandating the use of unionized labor in states, and seeking to regulate broadband rates, your administration has caused unnecessary delays leaving millions of Americans unconnected.

    The administration’s lack of focus on truly connecting the unconnected has failed the American people and represents a gross misuse of limited taxpayer dollars. The American public deserves better.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI United Nations: Deputy Secretary-General’s remarks at the High-Level Event Commemorating the African Union’s Year of Education [as prepared for delivery]

    Source: United Nations secretary general

    Excellencies, Distinguished guests, Dear Colleagues,

    It is a pleasure to be here with you all to commemorate the African Union’s Year of Education.

    As the world emerged from the COVID-19 pandemic and the massive disruption it caused, we were faced with an exacerbated education crisis. A crisis of exclusion, of quality and of relevance. A crisis made worse by stagnating investments by national governments, as well as the international community.

    It was in this context that the Secretary-General called for the Transforming Education Summit.

    The Summit was a landmark moment that was borne out of a realization that the education of yesterday was simply not up to task to respond to the needs of today and of tomorrow.

    It succeeded in elevating education on the global agenda, in mobilizing greater commitment to deliver SDG4 at the country-level and in expanding the global movement for a reimagined education.

    The Summit led to several important initiatives, calls to action and national statements of commitment by over 140 countries, more than 40 of which are from Africa. It led to the creation of the SG’s High-Level Panel on Teachers, which earlier this year produced specific, actionable recommendations on transforming teaching as well as the teaching profession. I hope that we are all heeding these recommendations, as we devise policies and draft legislation.

    Importantly, it also led to the African Union’s declaration of 2024 as its year of education. A truly momentous decision. It represents a significant opportunity to highlight the importance of education within the framework of the Sustainable Development Goals as well as Agenda 2063.

    This is important because when it comes to investing in education, our continent offers significant returns. African youth are poised to expand our continents and the world’s economic productivity. Within the next ten years, every third new entrant into the global workforce will be African.

    At the same time the proliferation of digital technologies, like Artificial Intelligence, offers an opportunity to leapfrog the many constraints we face when pursuing the traditional pathways of development.

    Investing in education now will help achieve broader development goals.

    Despite progress in the last two decades in increasing access to education in the region, there is still a lot to do. Close to 100 million children are out of school in Sub-Saharan Africa. Primary school completion rates are below 70%, which drops to 50% for girls. Africa needs an additional 15 million teachers in the classroom to achieve SDG targets by 2030.

    As you continue your journey, the UN system – UNESCO, UNICEF, UNECA, the RC system – stands poised to support you, through technical support as well as programme funding. This support will focus on digital transformation, entrepreneurship and jobs, inclusion and equity, and data and accountability, along with the traditional models of multilateral support which are focused on classrooms and curricula.

    Excellencies, ,

    Today, exactly two years after the Transforming Education Summit, we stand at an important inflection point.

    With our new Pact of the Future, you have renewed your commitment to the Goals including SDG4. With this rejuvenated focus on the SDGs we will proceed to the Global Education Meeting next month in Brazil; on to Financing for Development in Madrid (FFD4) and then the World Summit for Social Development in Qatar (WSSD2). As we do this, we must not lose sight of the work of actually delivering change.

    While we must keep pushing education to the forefront of the global stage through our advocacy, our efforts must also be aimed at delivering effective education policy changes at the regional, national and sub-national level.

    We must take concrete actions on the ground for a prosperous and growing Africa. We must transform and tailor teaching, curricula, and classrooms to the needs of young people and the demands of the modern world. We must harness technology, where possible to leapfrog the constraints that we may face in delivering the traditional model of education.

    Excellencies,

    In simple terms, we must deliver on education today, so a new generation of entrepreneurs, innovators and leaders can emerge in the years to come.

    I look forward to hearing about your discussions and follow-up actions as you move forward on the journey to transform education. Your motivation to face the crisis in education in meaningful and concrete ways is a source of hope for all of us.

    Thank you.

    MIL OSI United Nations News –

  • MIL-OSI Australia: $2.1 million to help boost cancer research in NSW

    Source: New South Wales Ministerial News

    Published: 24 September 2024

    Released by: Minister for Medical Research

    Coinciding with World Cancer Research Day today, the NSW Government is committing $2.1 million in research grant funding to support the work of the state’s cancer researchers, including world-renowned Professors Georgina Long AO and Paul Timpson.

    Co-Australian of the Year Professor Long and the team at Melanoma Institute Australia and The University of Sydney have been awarded almost $700,000 for an imaging system that will allow researchers to better visualise and understand tumour cell interactions across various cancer types, via the Cancer Institute NSW funding.

    It is hoped an improved understanding of the tumour microenvironment will assist with cancer diagnosis and treatment.

    Professor Timpson and the team at the Garvan Institute of Medical Research were awarded almost $700,000 to purchase a system that will provide unprecedented insights into cell-to-cell interactions, treatment responses and cancer dormancy to enable more effective treatment for cancers, including pancreatic, breast, and prostate cancer.

    Three clinical trials grants, valued at $250,000 each, have also been funded to support projects focused on improving access to cancer clinical trials, including:

    • The Building Capacity in Cancer Clinical Trials across Maridulu Budyari Gumal project aims to address enrolment challenges in clinical trials by targeting populations with lower trial participation rates. This includes socioeconomic disadvantaged, culturally and linguistically diverse and rural and regional communities.
    • The Sydney Cancer Partners Clinical Trials Support project aims to increase recruitment from priority populations to trials, including Aboriginal, culturally and linguistically diverse and LGBITQ communities.
    • Targeted Cancer Clinical Trials Support for Regional NSW project aims to deliver targeted initiatives such as increased trial sites and education and training to boost clinical trial participation across the Central Coast, Hunter, New England, Mid North Coast and Northern NSW areas.

    The NSW Government, through Cancer Institute NSW, is one of the largest funders of cancer research in NSW, having invested more than $470 million in the past 20 years across nearly 100 competitive research awards and grants.

    Minister for Medical Research David Harris said:

    “Targeted research is vital to delivering better treatments and interventions that reduce the impact of cancer and ultimately save lives.

    “Our researchers strive every day to improve the lives of people in NSW and across the world, and we’re proud to invest in them to continue their work and help improve cancer outcomes for all.”

    NSW Chief Cancer Officer and CEO Cancer Institute NSW, Professor Tracey O’Brien AM said:

    “While significant progress has been made in understanding and treating cancer, it remains the leading cause of death in NSW with sadly one in two people set to be diagnosed with the disease in their lifetime.

    “Investing in and accelerating research and innovation is key to improving our understanding of a disease that continues to devastate communities across NSW.”

    Professor Georgina Long AO said:

    “Technologies that provide a clear large-scale and detailed view of tumours and enable us to see how cells interact with each other are critical to move the cancer field forward.

    “The imaging system, called the Phenolmager HT 2.0, which we have been able to purchase through the research equipment grant, provides the ability to better understand tumour cell interactions.

    “This will enable researchers at Melanoma Institute Australia and The University of Sydney to bridge cancer research to clinical use and ultimately deliver more effective cancer treatments.”

    Professor Paul Timpson said:

    “The cutting-edge Akoya-PhenoCycler Fusion system will concurrently detect and visualise 100 proteins, providing unprecedented insights into cell-to-cell interactions, chemotherapy and immunotherapy responses, cancer dormancy, and novel therapies for cancers like pancreatic, breast, and prostate cancer.

    “Proteins drive functional outcomes within cells, and constitute drug targets, yet existing technologies do not accurately reflect protein activity at a specific location or time.”

    MIL OSI News –

  • MIL-OSI USA: Senator Markey’s Major Alzheimer’s Legislation Passes Through House, Moves to President Biden’s Desk

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Then-Representative Markey authored the National Alzheimer’s Project Act in 2011 and the Alzheimer’s Accountability Act in 2014
    Washington (September 23, 2024) – Senator Edward J. Markey (D-Mass.), chair of the Senate Health, Education, Labor and Pensions (HELP) Subcommittee on Primary Health and Retirement Security and founder and co-chair of the Congressional Task Force on Alzheimer’s, applauded passage by the House of Representatives of the National Alzheimer’s Project Act (NAPA) Alzheimer’s Accountability and Investment Act, legislation that would cement and build on the important progress that has been made to prevent and effectively treat Alzheimer’s disease. The National Alzheimer’s Project Act (NAPA) Reauthorization and the Alzheimer’s Accountability and Investment Act (AAIA) now head to President Joe Biden’s desk to be signed into law.  
    “Since my mother was diagnosed with Alzheimer’s in 1985, I have fought to ensure the federal government has the funding, resources, and coordination necessary to find a cure for this disease,” said Senator Markey. “The National Alzheimer’s Plan Act and the Alzheimer’s Accountability Act have transformed our understanding of the disease and its risk factors for more than a decade. But our work is not yet done. Today’s extension of these bills until 2035 is a commitment from Congress that we will not stop fighting until Alzheimer’s is a disease only found in history books. I thank Senator Collins and my colleagues for their support in delivering hope to millions of families just like mine across the country as these two bills head to the President’s desk.”
    “We have made tremendous progress in recent years to boost funding for Alzheimer’s research, which holds great promise to end this disease that has had a devastating effect on millions of Americans and their families,” said Senator Susan Collins, a founder and co-chair of the Congressional Task Force on Alzheimer’s Disease. “These two bills will maintain our momentum and make sure that we do not take our foot off the pedal just as our investments in basic research are beginning to translate into potential new treatments. We must not let Alzheimer’s to be one of the defining diseases of our children’s generation as it has ours.”
    “I know from firsthand experience what a devastating illness Alzheimer’s disease is, as I watched my mother battle with it for a decade before her passing,” said Senator Mark Warner, co-chair of the Congressional Task Force on Alzheimer’s Disease. “While we’ve made great strides in research, there is still so much work to be done to find effective ways to prevent and treat Alzheimer’s. On behalf of the millions of American families who have been touched by Alzheimer’s, I’m glad to see these two bills head to the president’s desk to be signed into law.”
    The NAPA Reauthorization Act — co-led by Senators Ed Markey (D-Mass.), Collins (R-Maine), Mark Warner (D-Va.), Shelley Moore Capito (R-W.Va.),  Jerry Moran (R-Kan.), Bob Menendez (D-N.J.), Lisa Murkowski (R-Alaska), and Debbie Stabenow (D-Mich.) — would reauthorize NAPA through 2035 and modernize the legislation to reflect strides that have been made to understand the disease, such as including a new focus on promoting healthy aging and reducing risk factors. The bill also includes updated language to reduce health disparities for underserved communities, including Black, Brown and disabled communities, who are at increased risk for Alzheimer’s as they age.
    The NAPA Reauthorization Act is endorsed by the Alzheimer’s Association, UsAgainstAlzheimer’s, National Down Syndrobe Society, National Down Syndrome Congress, and LuMind IDSC Foundation.
    The Alzheimer’s Accountability and Investment Act — authored by Senators Markey, Collins, Capito, Warner, Moran, Menendez, Murkowski, and Stabenow — would continue through 2035 a requirement that the Director of the National Institutes of Health submit an annual budget to Congress estimating the funding necessary to fully implement NAPA’s research goals. Only two other areas of biomedical research – cancer and HIV/AIDS – have been the subject of special budget development aimed at speeding discovery.
    The Alzheimer’s Accountability and Investment Act is endorsed by the Alzheimer’s Association and UsAgainstAlzheimer’s.
    Senator Markey is a leader in the fight to find a cure for Alzheimer’s disease and to support family caregivers. In July 2024, Senator Markey applauded the HELP Committee’s passage of Older Americans Act Reauthorization Act of 2024, which included provisions based on his Respite Care And Resources for Everyone (CARE) Act and Convenient Care for Caregivers Act to expand respite care for family caregivers of older adults that need long-term care, including individuals with Alzheimer’s disease and related dementia. Earlier that month, Senator Markey unveiled his “Caring for Caregivers” family caregiving agenda, which included his Convenient Care for Caregivers Act to support family caregivers and individuals with Alzheimer’s receiving health care services at the same time and location to improve health outcomes. As a member of the House of Representatives, Senator Markey founded the bipartisan, bicameral Congressional Task Force on Alzheimer’s to develop a whole-of-government approach to finding a cure for Alzheimer’s. He created the Independence at Home program to provide seniors, including individuals with Alzheimer’s and other dementia, the option to receive primary care in their home. Senator Markey authored the bipartisan Spending Reductions Through Innovations in Therapies (SPRINT) Act, which would encourage drug development for high-cost, chronic health conditions such as Alzheimer’s, the Health Outcomes, Planning and Education (HOPE) Act to improve early detection and diagnoses of Alzheimer’s and support caregivers, and the Alzheimer’s Breakthrough Act, which would require the National Institutes of Health (NIH) work to improve treatment outcomes and engage federal agencies in the effort to combat Alzheimer’s.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Government’s desperate decree to stop public servants working from home won’t work

    Source: Council of Trade Unions – CTU

    “The Minister of Public Service Nicola Willis is expecting public servants to stop working from home to help bolster the flagging local economy is micromanaging gone mad and counterproductive.” NZCTU Te Kauae Kaimahi President Richard Wagstaff said.

    “This Government has already tried to control staffing ratios in terms of ‘front line’ and ‘back office, and now it is trying to control where people should work.”

    “Minister Willis should concentrate on the big picture issues confronting Aotearoa New Zealand, instead of trying to manage the day-to-day operations of the public service.”

    “Though flexible hours and working from home options vary across organisations, it’s understood that people are more productive and happier with flexible arrangements. In a cost-of-living crisis it also reduces the financial and environmental impact of transport and parking. This is an operational matter, one the minister shouldn’t be involved in.” Wagstaff said.

    “Working from home practices have benefited from new technology, making it easier to connect remotely. The advent of COVID speed up the adoption of these tools and practices, demonstrating value to employers and employees alike.”

    “Employers offering a hybrid model of working from home for part of the week has become very attractive for some workplaces, both in terms of convenience and productivity.”

    “It’s crucial that the public service offers good work that attracts and retains the workers we need. This decision will just make that goal much harder in an already difficult environment.”

    “Despite the Government doing its best to portray itself as modern, innovative thinkers, this decree demonstrates that in reality they don’t understand the value of a modern, positive, high-trust workplace culture. Micromanaging and stopping staff from working some of their time at home is all about an old-fashioned command and control mentality.”

    “The Minister of Finance is fooling herself if she thinks forcing people to stop working from home will correct the damage done to the economy by the massive job cuts.” Wagstaff said.

    “Public servants only have so much money to spend. Now they will have to spend more on public transport and less on their local communities. It is a zero-sum game,” said Wagstaff. 

    MIL OSI New Zealand News –

  • MIL-OSI USA: Senator Collins’ Two Bills to Combat Alzheimer’s Head to President’s Desk

    US Senate News:

    Source: United States Senator for Maine Susan Collins
    Washington, D.C. – Today, U.S. Senator Susan Collins applauded the passage by the House of Representatives of two bipartisan bills she authored that would cement and build on the important progress that has been made to prevent and effectively treat Alzheimer’s disease. The National Alzheimer’s Project Act (NAPA) Reauthorization and the Alzheimer’s Accountability and Investment Act (AAIA) now head to the President’s desk to be signed into law.
    “We have made tremendous progress in recent years to boost funding for Alzheimer’s research, which holds great promise to end this disease that has had a devastating effect on millions of Americans and their families,” said Senator Collins, a founder and co-chair of the Congressional Task Force on Alzheimer’s Disease. “These two bills will maintain our momentum and make sure that we do not take our foot off the pedal just as our investments in basic research are beginning to translate into potential new treatments. We must not let Alzheimer’s to be one of the defining diseases of our children’s generation as it has ours.”
    More than six million Americans are living with Alzheimer’s. Alzheimer’s costs our nation an astonishing $360 billion per year, including $231 billion in costs to Medicare and Medicaid. If we continue along this trajectory, Alzheimer’s is projected to claim the minds of 13.8 million seniors by 2060 and nearly surpass $1 trillion in annual costs by 2050. In 2022, family caregivers provided 18 billion hours of unpaid care for loved ones with dementia.
    In 2011, Senator Susan Collins authored the National Alzheimer’s Project Act (NAPA) with then-Senator Evan Bayh (D-IN).  NAPA convened a panel of experts, who created a coordinated strategic national plan to prevent and effectively treat Alzheimer’s disease by 2025. The law is set to expire soon and must be reauthorized to ensure that research investments remain coordinated, and their impact is maximized.
    The NAPA Reauthorization Act would:
    Reauthorize NAPA through 2035 and modernize the legislation to reflect strides that have been made to understand the disease, such as including a new focus on promoting healthy aging and reducing risk factors.
    Update language in recognition of the need to include underserved populations, including individuals with Down syndrome, who are at increased risk for Alzheimer’s as they age.
    This bill is now endorsed by the National Down Syndrome Society, the National Down Syndrome Congress, and LuMind IDSC Foundation.
    The Alzheimer’s Accountability and Investment Act would:
    Continue through 2035 a requirement that the Director of the National Institutes of Health submit an annual budget to Congress estimating the funding necessary to fully implement NAPA’s research goals.
    Only two other areas of biomedical research – cancer and HIV/AIDS – have been the subject of special budget development aimed at speeding discovery.

    Senator Collins authored the NAPA Reauthorization Act with Senator Mark Warner (D-VA) and the Alzheimer’s Accountability and Investment Act with Senator Ed Markey (D-MA). Both bills are cosponsored by Senators Shelley Moore Capito (R-WV), Jerry Moran (R-KS), Lisa Murkowski (R-AK), and Debbie Stabenow (D-MI).
    The NAPA Reauthorization Act and the Alzheimer’s Accountability and Investment Act are endorsed by the Alzheimer’s Association and UsAgainstAlzheimer’s.

    MIL OSI USA News –

  • MIL-OSI: Faircourt Asset Management Inc. Announces September Distribution

    Source: GlobeNewswire (MIL-OSI)

    Toronto, Sept. 23, 2024 (GLOBE NEWSWIRE) — Faircourt Asset Management Inc., as Manager of the Faircourt Fund (NEO:FGX), is pleased to announce the monthly distribution payable on the Shares of the below listed Fund.

    Faircourt Funds Trading Symbol Distribution Amount (per share/unit) Ex-Dividend Date Record Date Payable Date
    Faircourt Gold Income Corp. FGX $0.024 September 27, 2024 September 30, 2024 October 15, 2024

    Faircourt Asset Management Inc. is the Investment Advisor for Faircourt Gold Income Corp.

    This press release is not for distribution in the United States or over United States wire services.

    For further information on the Faircourt Funds, please visit www.faircourtassetmgt.com or
    please contact 1-800-831-0304.

    You will usually pay brokerage fees to your dealer if you purchase or sell Shares of the Fund on the NEO Exchange or other alternative Canadian trading system (an “exchange”). If the Shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying Shares of the Fund and may receive less than the current net asset value when selling them.

    There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

    The MIL Network –

  • MIL-OSI USA: House Passes Pettersen Bill to Enhance Online Dating Safety

    Source: United States House of Representatives – Representative Brittany Pettersen (Colorado 7th District)

    WASHINGTON— Today, the U.S. House of Representatives passed the Online Dating Safety Act, bipartisan legislation introduced by Representatives Brittany Pettersen (D-CO) and David G. Valadao (R-CA) to make online dating safer and crack down on scammers. The legislation would require dating apps and services to issue fraud ban notifications to users who have interacted with a person removed from the app for fraudulent or inappropriate behavior. In 2023 alone, the Federal Trade Commission reported that romance scams resulted in victims losing $1.14 billion. 

    “Online dating services are being used as a platform for bad actors to target and exploit individuals, yet protections continue to lag behind,” said Pettersen. “Notifying users if they have been in contact with a potential scammer is a basic security feature that every online dating service should provide. This bipartisan bill will help reduce online crime and keep people safe from online scammers. I’m grateful this legislation has passed the House with bipartisan support, and I will keep working to see it signed into law.”

    “With more and more people using online dating services, there are a number of bad actors who use these platforms to commit fraud,” said Valadao.  “These apps have been around for over 10 years, but still there are little safeguards in place to protect users. The Online Dating Safety Act is an important step to enhance online safety, combat fraud, and help people make more informed decisions. I look forward to working with my Senate colleagues to get this bill across the finish line.”

    Following the introduction of the Online Dating Safety Act, Pettersen met with a victim of an online scam, Coloradan Debbie Fox. 

    “As a victim of intentional fraud, I’ve experienced firsthand how transnational cybercriminals manipulate weaknesses in financial institutions and social media platforms, leaving victims like me financially gutted and emotionally devastated. This isn’t just about individual loss—it’s about a system urgently needing to keep pace with modern criminal tactics. These criminals operate without borders and without fear of accountability, exploiting loopholes that remain unchecked. We applaud stronger laws to protect citizens, hold institutions accountable, and ensure that victims receive real, timely support, restitution and justice. The passage of H.R. 6124 moves us closer to stop transnational criminals in their tracks and prevent further harm.” – Debbie Fox.

    Earlier this month, Pettersen spoke in support of the bill in a Subcommittee on National Security, Illicit Finance, and International Financial Institutions hearing. Click here to watch her remarks. 

    The bill passed the House by voice vote and now moves to the Senate.

    Background: 

    As Americans continue to go online to find meaningful relationships, scammers are following suit. The Federal Trade Commission reported that romance scams resulted in victims losing $1.14 billion in 2023 alone. When an online dating service provider becomes aware of a user committing fraudulent activity, such as illegally obtaining money, the online dating service provider often immediately deactivates the fraudulent user’s account. However, individuals who meet online often take their conversations to other communication platforms, so even when a fraudulent account is removed, an individual might not know they are still communicating with someone who has been removed from the dating platform. The Online Dating Safety Act seeks to fill this communication gap by requiring these platforms to send a fraud ban notification to anyone who has communicated with someone with a fraudulent account.

    Bill text can be found HERE. 

    MIL OSI USA News –

  • MIL-OSI Australia: Call for information – Criminal damage – Alice Springs

    Source: Northern Territory Police and Fire Services

    Northern Territory Police are calling for information in relation to a criminal damage incident involving multiple vehicles that occurred over the weekend.

    The damage is believed to have occurred between the afternoon of Friday 20 September 2024, and the morning of Monday 23 September 2024, at a business on Bath Street in Alice Springs.

    Up to 22 vehicles were damaged, having their windows broken during the incident.

    Investigations are in their early stages and detectives from Strike Force Viper have taken multiple victim statements.

    Police urge anyone with information, or with CCTV or dash cam footage, to contact 131 444 and quote P24262199. You can also make an anonymous report through Crime Stoppers on 1800 333 000 or through https://crimestoppersnt.com.au/.

    MIL OSI News –

  • MIL-OSI Economics: ADB Joins Partnership for a Lead-Free Future

    Source: Asia Development Bank

    MANILA, PHILIPPINES (24 September 2024) — The Asian Development Bank (ADB) today announced a set of actions to mainstream lead exposure mitigation into its operations, as part of its participation in the newly formed Partnership for a Lead-Free Future, a global initiative led by the United Nations Children’s Fund (UNICEF) and the United States Agency for International Development (USAID). The partnership aims to eliminate childhood lead exposure by 2040.

    The initiative, launched at the United Nations General Assembly today, will target high-risk countries including Bangladesh, Indonesia, India, and Nepal, among others throughout Asia and the Pacific.

    ADB’s participation in the partnership underscores its ongoing commitment to addressing health and environmental challenges in developing Asia and the Pacific. Lead contamination, particularly from informal used lead-acid battery recycling sites, presents a major health crisis. Toxic lead exposure is affecting at least 400 million children in the region, leading to cognitive impairments, health complications, and major economic losses. The global economic cost of lead-related cognitive underdevelopment is estimated at about $1 trillion annually.

    “Lead exposure doesn’t just affect children’s health—it holds back entire economies,” said ADB Vice-President for East and Southeast Asia, and the Pacific Scott Morris. “The Partnership for a Lead-Free Future is an important step in addressing this environmental, health, and economic issue. We will dedicate ADB’s expertise and resources to help ensure that countries across Asia and the Pacific can mitigate lead exposure, enhance public health, and secure a healthier, more productive future for all.”

    ADB is embedding lead management into its broader environmental safeguards and technical assistance programs, and has already begun engaging with governments in Indonesia, India, and the Philippines to tackle lead contamination. The bank will co-host a technical side event on lead pollution at the 12th Asia Pacific Regional Forum on Health and Environment in Jakarta on 25 September, which will serve as a platform to advance the lead elimination agenda. Co-organized with the governments of Indonesia, Japan and Thailand, USAID, and the World Bank, the forum will highlight cutting-edge research on lead exposure and showcase effective strategies for reducing lead poisoning. 

    In collaboration with the Global Environment Facility and the United Nations Industrial Development Organization, ADB is also developing the Chemical and Wastes Financing Partnership Facility, the first of its kind. This facility will scale chemical management, including lead mitigation, across the region. The initiative complements ADB’s work in managing hazardous waste, providing governments with the resources to regulate industries, replace hazardous materials, and enforce environmental standards.

    ADB plans to integrate lead elimination into its universal health care support programs, starting in the Philippines. Through these programs, ADB has been working to ensure equitable access to health services, address gender-specific health needs, and mitigate the health impacts of climate change.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

    MIL OSI Economics –

  • MIL-OSI Economics: ADB Launches Country Partnership Strategy for Fiji for 2024-2028

    Source: Asia Development Bank

    MANILA, PHILIPPINES (24 September 2024) — The Asian Development Bank (ADB) has launched a new country partnership strategy (CPS) with Fiji for 2024–2028, which will support Fiji’s resilience to economic and climate-related shocks.

    “This new CPS will build on ADB’s ongoing assistance to support more resilient public finances, quality infrastructure and services, and a greener and more diversified private sector,” said ADB Director General for the Pacific Leah Gutierrez. “The strategic partnership will tailor ADB support towards Fiji’s recently launched National Development Plan 2025-2029.”

    The new strategy will prioritize assistance for public sector management, improving access to climate-resilient transport infrastructure, and climate-resilient urban water and wastewater services. The CPS emphasizes emerging areas of engagement in coastal protection for vulnerable communities, upgrading national health care facilities, and accelerating Fiji’s renewable energy transition. It focuses on promoting private sector investment, accelerating progress in gender equality, and fostering regional cooperation and integration.  

    “The strategy reflects the close partnership between the Government of Fiji and ADB, aligning future support with Fiji’s National Development Plan 2025–2029,” said Fijian Deputy Prime Minister and Minister of Finance Biman Prasad.

    The 5-year strategy will assist Fiji’s efforts to bolster climate and disaster resilience through innovative financial solutions, upgrading critical infrastructure, reinforcing climate policy reforms, and improving access to concessional climate finance.    

    ADB has been supporting Fiji since 1970, and has committed 117 public sector loans, grants, and technical assistance totaling $991 million to Fiji.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

    MIL OSI Economics –

  • MIL-OSI United Nations: Readout of the Secretary-General’s meeting with  H.E. Mr. Pedro Sánchez Pérez-Castejón, President of the Government of Spain [scroll down for Spanish version]

    Source: United Nations secretary general

    The Secretary-General met with H.E. Mr. Pedro Sánchez Pérez-Castejón, President of the Government of Spain. The Secretary-General and the President of the Government discussed the situation in the Middle East and in Venezuela. They also exchanged views on the Summit of the Future and Spanish support for the implementation of the Sustainable Development Goals, including through the upcoming Conference on Financing for Development to be held in Seville, Spain in 2025.

    *****
    El Secretario General se reunió con el Excelentísimo Señor Pedro Sánchez Pérez-Castejón, Presidente del Gobierno de España. El Secretario General y el Presidente del Gobierno abordaron la situación en el Medio Oriente y en Venezuela. También intercambiaron puntos de vista sobre la Cumbre del Futuro y el apoyo de España para la implementación de los Objetivos de Desarrollo Sostenible, incluyendo mediante la próxima Conferencia sobre la Financiación para el Desarrollo que tendrá lugar en Sevilla, España en el 2025.
     

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: STL to visit Beijing and Tianjin

    Source: Hong Kong Government special administrative region

    STL to visit Beijing and Tianjin
    STL to visit Beijing and Tianjin
    ********************************

         The Secretary for Transport and Logistics, Mr Lam Sai-hung, will leave for a visit to Beijing and Tianjin this evening (September 24).     Mr Lam will attend the Global Sustainable Transport Forum (2024) hosted by the Ministry of Transport of the People’s Republic of China in Beijing tomorrow (September 25), where he will speak at a thematic session. During his visit in Beijing, Mr Lam will also meet with officials of the Ministry of Transport.     Mr Lam will then visit Tianjin to attend the 11th China Air Finance Development (DFTP) Summit and deliver a speech at the opening ceremony on September 26.     He will return to Hong Kong on the evening of September 26. During his absence, the Under Secretary for Transport and Logistics, Mr Liu Chun-san, will be the Acting Secretary for Transport and Logistics.

     
    Ends/Tuesday, September 24, 2024Issued at HKT 10:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Dundee Corporation Announces Acquisition of Shares of Maritime Resources Corp.

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Sept. 23, 2024 (GLOBE NEWSWIRE) — In accordance with regulatory requirements, Dundee Corporation (TSX: DC.A) (“Dundee”) announces that its wholly owned subsidiary, Dundee Resources Limited, has acquired by private agreement 47,000,000 common shares of Maritime Resources Corp. (TSXV – MAE) (the “Issuer”) at a price of $0.034 per share for aggregate consideration of C$1,598,000.

    Immediately prior to the acquisition of securities described in this news release, Dundee and its affiliates owned 312,967,123 common shares and 53,961,033 warrants of the Issuer representing an approximate 37.66% interest in the Issuer on an undiluted basis and a 41.46% interest in the Issuer on a partially diluted basis. Immediately following the transaction that triggered the requirement to file this news release, Dundee and its affiliates own or control an aggregate of 359,967,123 common shares and 53,961,033 warrants, representing an approximate 43.32% interest in the Issuer on an undiluted basis and a 46.77% interest in the Issuer on a partially diluted basis.  

    Dundee acquired the securities of the Issuer for investment purposes only. Dundee intends to review, on a continuous basis, various factors related to its investment, including (but not limited to) the price and availability of the securities of the Issuer, subsequent developments affecting the Issuer or its business, and the general market and economic conditions. Based upon these and other factors, Dundee may decide to purchase additional securities of the Issuer or may decide in the future to sell all or part of its investment.

    This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report. The early warning report respecting the acquisition will be filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com under the Issuer’s profile. To obtain a copy of the early warning report filed by Dundee, please contact:

    Dundee Corporation
    Legal Department
    80 Richmond Street West, Suite 2000
    Toronto, Ontario M5H 2A4
    Tel: (416) 365-5172

    ABOUT DUNDEE CORPORATION

    Dundee Corporation is a public Canadian independent holding company, listed on the Toronto Stock Exchange under the symbol “DC.A”. Through its operating subsidiaries, Dundee Corporation is an active investor focused on delivering long-term, sustainable value as a trusted partner in the mining sector with more than 30 years of experience making accretive mining investments.

    FOR FURTHER INFORMATION PLEASE CONTACT:

    Investor and Media Relations
    T: (416) 864-3584
    E: ir@dundeecorporation.com

    The MIL Network –

  • MIL-OSI Banking: Money Market Operations as on September 23, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 584,136.10 6.69 1.00-6.95
         I. Call Money 9,938.90 6.68 5.10-6.80
         II. Triparty Repo 403,004.70 6.67 6.30-6.77
         III. Market Repo 169,807.50 6.74 1.00-6.90
         IV. Repo in Corporate Bond 1,385.00 6.88 6.85-6.95
    B. Term Segment      
         I. Notice Money** 174.50 6.33 5.85-6.65
         II. Term Money@@ 408.00 – 6.80-7.40
         III. Triparty Repo 482.30 6.66 6.54-6.80
         IV. Market Repo 1,136.97 6.78 6.77-6.85
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Mon, 23/09/2024 1 Tue, 24/09/2024 50,007.00 6.65
         (b) Reverse Repo          
    3. MSF# Mon, 23/09/2024 1 Tue, 24/09/2024 3,320.00 6.75
    4. SDFΔ# Mon, 23/09/2024 1 Tue, 24/09/2024 57,919.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -4,592.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 20/09/2024 14 Fri, 04/10/2024 25,002.00 6.52
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 27/09/2021 1095 Thu, 26/09/2024 600.00 4.00
    Mon, 04/10/2021 1095 Thu, 03/10/2024 350.00 4.00
    Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,547.26  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*    

    38,039.26

    		  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     33,447.26  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on September 23, 2024 982,960.08  
         (ii) Average daily cash reserve requirement for the fortnight ending October 04, 2024 1,005,433.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ September 23, 2024 50,007.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on September 06, 2024 427,689.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad            
     Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1152

    MIL OSI Global Banks –

  • MIL-OSI China: China-ASEAN expo to promote cooperation

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

    The upcoming 21st China-ASEAN Expo is expected to advance the building of the China-ASEAN Free Trade Area 3.0 and promote high-quality regional development through a variety of economic and trade activities, the expo’s secretariat said at a news conference on Monday in Nanning, capital of Southwest China’s Guangxi Zhuang autonomous region.

    The expo will be held in Nanning from Tuesday to Saturday, with Malaysia to be the country of honor.

    Vice-Premier Ding Xuexiang will attend and address the opening ceremony of the expo and the China-ASEAN Business and Investment Summit in Nanning on Tuesday. Malaysian Prime Minister Anwar Ibrahim will deliver a video address.

    “Trade and economic activities at the event are increasingly emphasizing practicality and highlighting key areas to promote cooperation in the digital economy and green economy,” said Zeng Zhong, deputy secretary-general of the China-ASEAN Expo secretariat.

    It will also focus on cooperation, with the Association of Southeast Asian Nations member states holding national promotion events. For example, Indonesia is organizing promotional events focusing on environmental protection and investment. Cambodia’s national promotion events emphasize commerce, investment and tourism. Vietnam’s promotions will highlight trade and economic integration.

    Zeng said the expo has been extended from four to five days, with the additional day open to the public. The exhibition layout has been optimized, with the addition of strategic emerging themes showcasing new, high-quality productive forces, along with new areas for digital technology and cultural exchanges.

    More than 2,000 companies will be exhibiting in the main exhibition area. More than 800 ASEAN and regional foreign companies are participating, accounting for more than 41 percent of exhibitors.

    “There are more than 400 companies from the Fortune Global 500 and China’s Top 500, as well as unicorns and specialized, innovative enterprises — representing a 15 percent increase over the previous session,” Zeng said.

    Chinese exhibitors will showcase drivers of new quality production such as the digital economy, new energy vehicles and green, low-carbon technologies, including applications such as Beidou chips and high-end mechanical equipment.

    More than 1,100 Chinese and foreign leaders, ASEAN ambassadors to China, heads of international organizations, entrepreneurs, experts and scholars will be present at the opening ceremony.

    “Through such high-level dialogue activities as the opening ceremony, we hope a closer China-ASEAN community with a shared future will emerge,” Zeng said.

    China has been ASEAN’s largest trading partner for 15 consecutive years, and ASEAN became China’s top trading partner in 2020. Last year, the value of trade between China and ASEAN members reached $911.7 billion.

    MIL OSI China News –

  • MIL-OSI: Griffin Global Asset Management Announces Closing of $400 Million Senior Unsecured Notes Offering

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Ireland, Sept. 24, 2024 (GLOBE NEWSWIRE) — Griffin Global Asset Management (“Griffin”) announces the successful closing by GGAM Finance Ltd. of an offering of an aggregate principal amount of $400 million senior unsecured notes. The notes were priced at par.

    The offering comprises $400 million of 5.875% senior unsecured notes due 2030 (the “Notes”). The Notes will be guaranteed by Griffin Global Asset Management Holdings, Ltd. and certain of its subsidiaries. Proceeds from the issuance will be used for general corporate purposes, which may include financing the acquisition of new aircraft deliveries and the future repayment of outstanding indebtedness.

    John Beekman, Griffin CFO, commented: “We are delighted to announce the closing of our latest unsecured notes offering. This issuance reaffirms our unwavering commitment to the unsecured capital markets and brings our total volume of unsecured notes issued to $2.5 billion in under 18 months. With the issuance of these notes we also disclosed that our secured warehouse was previously reduced to zero, which means inclusive of this issuance we currently have a fully unsecured balance sheet. We are grateful to our expanding investor base for the support they have shown us as we continue along our path to achieving investment grade ratings.”

    The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any jurisdiction and may be offered or sold only in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. The Notes were offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States to non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.

    This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or other 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.

    Forward Looking Statements

    This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. There may be events in the future, however, that we are not able to predict accurately or control. Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    About Griffin Global Asset Management

    Griffin is a commercial aircraft leasing and alternative asset management business with offices in Dublin, Ireland, Puerto Rico, and Los Angeles, CA. Griffin’s team of professionals works closely with airlines, manufacturers, maintenance providers, and financiers to deliver innovative capital solutions globally.

    The MIL Network –

  • MIL-OSI USA: Bicameral Statement of Bipartisan Task Forces for Combating Antisemitism on Release of 2023 FBI Hate Crime Statistics Report

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)

    Anti-Jewish Hate Crimes Increased By Nearly 63 Percent, Reaching Highest Level In Decades
    WASHINGTON, DC – U.S. Senators Jacky Rosen (D-NV) and James Lankford (R-OK), and Representatives Kathy Manning (NC-06) and Chris Smith (NJ-04), co-chairs of the Senate and House Bipartisan Task Forces for Combating Antisemitism, respectively, released the following statement in response to the Federal Bureau of Investigation’s (FBI) 2023 Hate Crime Statistics Report. The FBI data shows anti-Jewish hate crimes increased in 2023 by nearly 63 percent from 2022, which is the highest number recorded in almost three decades.
    “We are deeply alarmed by the dramatic increase in hate crimes targeting Jewish Americans over the past year, as noted in the FBI’s 2023 Hate Crimes Statistics Report,” said the members. “With antisemitism skyrocketing across the United States following Hamas’s October 7 terrorist attack on Israel, a whole-of-government approach is needed to protect Jewish communities from violence and hate.”
    Anti-Jewish hate crimes rose from 1,122 to 1,832 incidents from 2022 to 2023. According to the FBI, a total of 16,009 law enforcement agencies, which represent 95.2 percent of the agencies enrolled in the hate crime data collection program, participated in hate crimes reporting for 2023.
    They continued: “As the co-chairs of the House and Senate Bipartisan Task Forces for Combating Antisemitism, we remain steadfast in our commitment to root out the scourge of antisemitism. We’ll continue working across party lines to ensure the federal government keeps Jewish Americans safe from discrimination.”
    Jewish Americans make up around two percent of the U.S. population, yet antisemitic hate crimes accounted for 15.4 percent of all hate crimes reported by the FBI. Anti-Jewish incidents comprised a little over two-thirds of all religion-based hate crimes. 
    As co-chair of the Senate Bipartisan Taskforce for Countering Antisemitism, Senator Rosen has been leading the fight against rising antisemitism. Senator Rosen, along with the co-chairs of the Senate and House Bipartisan Task Forces, introduced a bipartisan bill to take historic action to counter antisemitism in the United States by establishing a first-ever National Coordinator to Counter Antisemitism. In May, Senators Rosen and Lankford sent a bipartisan letter urging the Department of Education to designate a senior official to oversee efforts to combat antisemitism on college campuses. They also called on the Senate Health, Education, Labor, and Pensions Committee to hold a full hearing on rising antisemitism on college campuses.

    MIL OSI USA News –

  • MIL-OSI Australia: Fatal crash in the CBD

    Source: South Australia Police

    A woman has died following a crash in the city last week.

    Just after 12.15pm on Friday 20 September police were called to the intersection of South Terrace and Sir Lewis Cohen Avenue following reports of a crash between a Nissan Micra and a Ford Territory.

    The 93-year-old female driver of the Nissan was taken to hospital for treatment of her injuries, sadly today (Tuesday 24 September) she died in hospital.

    The occupant and passenger of the Ford were not injured.

    Major Crash Investigators are appealing to the public if they witnessed the crash or have dashcam footage and have not spoken to police to please call Crime Stoppers on 1800 333 000.

    The woman’s death is the 61st life lost on SA roads this year.

    MIL OSI News –

  • MIL-OSI Asia-Pac: Lam Sai-hung to visit Beijing, Tianjin

    Source: Hong Kong Information Services

    Secretary for Transport & Logistics Lam Sai-hung will leave for a visit to Beijing and Tianjin later today, and will return to Hong Kong on Thursday.

    In Beijing, Mr Lam will attend the Global Sustainable Transport Forum (2024), hosted by the Ministry of Transport. He will speak at a thematic session and meet ministry officials at the event.

    He will then proceed to Tianjin to attend the 11th China Air Finance Development Summit and deliver a speech at its opening ceremony.

    During his absence, Under Secretary for Transport & Logistics Liu Chun-san will be Acting Secretary.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Sampo plc’s share buybacks 23 September 2024

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, stock exchange release, 24 September 2024 at 8:30 am EEST

    Sampo plc’s share buybacks 23 September 2024

    On 23 September 2024, Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI4000552500) as follows:                

    Sampo plc’s share buybacks Aggregated daily volume (in number of shares) Daily weighted average price of the purchased shares* Market (MIC Code)
      4,637 41.36 AQEU        
      40,615 41.34 CEUX
      1,254 41.37 TQEX
      44,617 41.35 XHEL
    TOTAL 91,123 41.35  

    *rounded to two decimals                

    On 17 June 2024, Sampo announced a share buyback programme of up to a maximum of EUR 400 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. On 16 September 2024, the Board of Directors of Sampo plc resolved to increase the share buyback programme to EUR 475 million. The programme, which started on 18 June 2024, is based on the authorisation granted by Sampo’s Annual General Meeting on 25 April 2024.

    After the disclosed transactions, the company owns in total 7,221,120 Sampo A shares representing 1.31 per cent of the total number of shares in Sampo plc, taking the issuance of shares on 16 September 2024 into account.

    Details of each transaction are included as an appendix of this announcement.

    On behalf of Sampo plc,
    Morgan Stanley

    For further information, please contact:

    Sami Taipalus
    Head of Investor Relations
    tel. +358 10 516 0030

    Distribution:
    Nasdaq Helsinki
    Nasdaq Stockholm
    Nasdaq Copenhagen
    London Stock Exchange
    The principal media
    FIN-FSA
    DEN-FSA
    www.sampo.com

    Attachment

    The MIL Network –

  • MIL-OSI New Zealand: First Responders – 2024 Port Hills Fire Investigation Report

    Source: Fire and Emergency New Zealand

    A fire investigation report into the Port Hills fire, which started on 14 February 2024, has located a specific origin area on private property but the cause of the fire remains undetermined.
    District Commander Dave Stackhouse says, “Investigators were unable to identify a specific ignition source. As the cause of the fire cannot be proven to an acceptable level of certainty, it is classified as undetermined. However, if further information becomes available, the investigation will be reopened.”
    Dave Stackhouse says an examination of the scene identified a specific origin area of approximately five square metres, on private property about 50 metres off the side of Worsleys Road.
    “The owner of the property where the fire originated cooperated with the investigation and advised that there had been no activity or equipment used on the day the fire started,” Dave Stackhouse says.
    “Our legal advice is that, due to privacy reasons, Fire and Emergency is unable to release the specific origin area of the fire because it is on private property,” he says.
    “We acknowledge this may be disappointing for all those who were affected by the Port Hills fire in February and were hoping for answers,” the District Commander says.
    “Our investigation into the cause of the fire included three experienced wildfire investigators working alongside the New Zealand Police and who arrived in Christchurch the day after the fire started.
    “They interviewed three witnesses who were in the vicinity of the fire when it started and were the first to report the fire to 111. They assessed photos and videos of the early stages of the fire which were sent in by the public or captured on CCTV,” he says.
    “In the lead up to the fire, Canterbury was experiencing a warm, dry summer, combined with dry vegetation across the District. These conditions assisted in the ignition and spread of the fire.”
    Dave Stackhouse says that while the cause of the fire is undetermined, significant incidents like this one are a strong reminder that everyone should take steps to protect themselves from wildfire.
    “Now is the time to prepare for the fire season. We encourage the community to develop an emergency plan, this should include a plan for pets and livestock,” he says.
    “We also recommend that property owners take action to create a defensible space around their properties, remove unwanted vegetation and leaves and use low flammability plants to assist with creating a green fire break around properties.”
    People can find out more information about protecting themselves from wildfires on the Fire and Emergency New Zealand website and at Checkitsalright.co.nz.
    “Fire and Emergency extends its thanks to the many volunteers and staff who worked long hours to contain and extinguish the Port Hills fire.
    “We also want to acknowledge and thank partner agencies for their support throughout the response and the Port Hills residents and Christchurch community for their cooperation.
    “We would also like to thank everyone who contributed to our investigation through sending in photos and videos of the fire during the incident,” Dave Stackhouse says.
    A copy of the fire investigation report will also be available on Fire and Emergency’s website from 1pm on Tuesday 24 September 2024.
    Background
    Just after 2pm on 14 February 2024, Fire and Emergency New Zealand was alerted to a vegetation fire near Worsleys Road on the Christchurch Port Hills. The fire burnt through approximately 650 hectares and destroyed a residential structure and various infrastructure, including causing some damage to the Christchurch Adventure Park.
    The fire burnt across the Port Hills for three weeks and involved firefighters from across Canterbury, multiple aircraft and ground machinery, a large number of support and incident management personnel, and Fire and Emergency’s specialist drone team.

    MIL OSI New Zealand News –