Category: Internet Communications Technology

  • MIL-OSI Asia-Pac: The Wilmington Declaration Joint Statement from the Leaders of Australia, India, Japan, and the United States

    Source: Government of India (2)

    Posted On: 22 SEP 2024 8:15AM by PIB Delhi

    Today, we—Prime Minister Anthony Albanese of Australia, Prime Minister Narendra Modi of India, Prime Minister Kishida Fumio of Japan, and President Joseph R. Biden, Jr. of the United States—met for the fourth in-person Quad Leaders Summit, hosted by President Biden in Wilmington, Delaware.

    Four years since elevating the Quad to a leader-level format, the Quad is more strategically aligned than ever before and is a force for good that delivers real, positive, and enduring impact for the Indo-Pacific. We celebrate the fact that over just four years, Quad countries have built a vital and enduring regional grouping that will buttress the Indo-Pacific for decades to come.

    Anchored by shared values, we seek to uphold the international order based on the rule of law. Together we represent nearly two billion people and over one-third of global gross domestic product. We reaffirm our steadfast commitment to a free and open Indo-Pacific that is inclusive and resilient. Through our cooperation, the Quad is harnessing all of our collective strengths and resources, from governments to the private sector to people-to-people relationships, to support the region’s sustainable development, stability, and prosperity by delivering tangible benefits to the people of the Indo-Pacific.

    As four leading maritime democracies in the Indo-Pacific, we unequivocally stand for the maintenance of peace and stability across this dynamic region, as an indispensable element of global security and prosperity. We strongly oppose any destabilizing or unilateral actions that seek to change the status quo by force or coercion. We condemn recent illicit missile launches in the region that violate UN Security Council resolutions. We express serious concern over recent dangerous and aggressive actions in the maritime domain. We seek a region where no country dominates and no country is dominated—one where all countries are free from coercion, and can exercise their agency to determine their futures. We are united in our commitment to upholding a stable and open international system, with its strong support for human rights, the principle of freedom, rule of law, democratic values, sovereignty and territorial integrity, and peaceful settlement of disputes and prohibition on the threat or use of force in accordance with international law, including the UN Charter.

    Reflecting the Vision Statement issued by Leaders at the 2023 Quad Summit, we are and will continue to be transparent in what we do. Respect for the leadership of regional institutions, including the Association of Southeast Asian Nations (ASEAN), the Pacific Islands Forum (PIF), and the Indian Ocean Rim Association (IORA), is and will remain at the center of the Quad’s efforts.

    A Global Force for Good

    Health Security

    The COVID-19 pandemic reminded the world how important health security is to our societies, our economies, and the stability of our region. In 2021 and 2022, the Quad came together to deliver more than 400 million safe and effective COVID-19 doses to Indo-Pacific countries and almost 800 million vaccines globally, and provided $5.6 billion to the COVAX Advance Market Commitment for vaccine supply to low and middle-income countries. In 2023, we announced the Quad Health Security Partnership, through which the Quad continues to deliver for partners across the region, including through the delivery of pandemic preparedness training.

    In response to the current clade I mpox outbreak, as well as the ongoing clade II mpox outbreak, we plan to coordinate our efforts to promote equitable access to safe, effective, quality-assured mpox vaccines, including where appropriate expanding vaccine manufacturing in low and middle-income countries.

    Today we are proud to announce the Quad Cancer Moonshot, a groundbreaking partnership to save lives in the Indo-Pacific region. Building on the Quad’s successful partnership during the COVID-19 pandemic, our collective investments to address cancer in the region, our scientific and medical capabilities, and contributions from our private and non-profit sectors, we will collaborate with partner nations to reduce the burden of cancer in the region.

    The Quad Cancer Moonshot will focus initially on combatting cervical cancer—a preventable cancer that continues to claim too many lives—in the Indo-Pacific region, while laying the groundwork to address other forms of cancer as well. The United States intends to support this initiative, including through U.S. Navy medical trainings and professional exchanges around cervical cancer prevention in the region starting in 2025, and through U.S. International Development Finance Corporation (DFC) openness to finance eligible private sector-driven projects to prevent, diagnose, and treat cancer, including cervical cancer. Australia is announcing the expansion of the Elimination Partnership in the Indo-Pacific for Cervical Cancer Program (EPICC) with support of the Australian Government and the Minderoo Foundation to AUD 29.6 million, to cover up to eleven countries in the Indo-Pacific in helping advance the elimination of cervical cancer and support complementary initiatives focused on cancer prevention, diagnosis, and treatment. India commits to providing HPV sampling kits, detection kits, and cervical cancer vaccines worth $7.5 million to the Indo-Pacific region. India, through its $10 million commitment to the WHO’s Global Initiative on Digital Health, will offer technical assistance to interested countries in the Indo-Pacific region for the adoption and deployment of its Digital Public Infrastructure that helps in cancer screening and care. Japan is providing medical equipment, including CT and MRI scanners, and other assistance worth approximately $27 million, including in Cambodia, Vietnam, and Timor-Leste, and is contributing to international organizations such as the Gavi Vaccine Alliance. Quad partners also intend to work, within respective national contexts, to collaborate in advancing research and development in the area of cancer and to increase private sector and non-governmental sector activities in support of reducing the burden of cervical cancer in the region. We welcome a number of new, ambitious commitments from non-governmental institutions, including the Serum Institute of India, in partnership with Gavi, which will support orders of up to 40 million HPV vaccine doses, subject to necessary approvals, for the Indo-Pacific region, and which may be increased consistent with demand. We also welcome a new $100 million commitment from Women’s Health and Empowerment Network to address cervical cancer in Southeast Asia.

    Altogether, our scientific experts assess that the Quad Cancer Moonshot will save hundreds of thousands of lives over the coming decades.

    Humanitarian Assistance and Disaster Relief (HADR)

    Twenty years since the 2004 Indian Ocean earthquake and tsunami, when the Quad first came together to surge humanitarian assistance, we continue to respond to the vulnerabilities caused by natural disasters in the Indo-Pacific. In 2022, the Quad established the “Quad Partnership on Humanitarian Assistance and Disaster Relief in the Indo-Pacific” and signed Guidelines for the Quad Partnership on HADR in the Indo-Pacific, which enable Quad countries to rapidly coordinate in the face of natural disasters. We welcome Quad governments working to ensure readiness to rapidly respond, including through pre-positioning of essential relief supplies, in the event of a natural disaster; this effort extends from the Indian Ocean region, to Southeast Asia, to the Pacific.

    In May 2024, following a tragic landslide in Papua New Guinea, Quad partners collectively contributed over $5 million in humanitarian assistance. Quad partners are working together to provide over $4 million in humanitarian assistance to support the people of Vietnam in light of the devastating consequences of Typhoon Yagi. The Quad continues to support partners in the region in their longer-term resiliency efforts.

    Maritime Security

    In 2022, we announced the Indo-Pacific Partnership for Maritime Domain Awareness (IPMDA) to offer near-real-time, integrated, and cost-effective maritime domain awareness information to partners in the region. Since then, in consultation with partners, we have successfully scaled the program across the Indo-Pacific region—through the Pacific Islands Forum Fisheries Agency, with partners in Southeast Asia, to the Information Fusion Center—Indian Ocean Region, Gurugram. In doing so, the Quad has helped well over two dozen countries access dark vessel maritime domain awareness data, so they can better monitor the activities in their exclusive economic zones—including unlawful activity. Australia commits to boosting its cooperation with the Pacific Islands Forum Fisheries Agency to enhance regional maritime domain awareness in the Pacific through satellite data, training, and capacity building.

    Today we are announcing a new regional Maritime Initiative for Training in the Indo-Pacific (MAITRI), to enable our partners in the region to maximize tools provided through IPMDA and other Quad partner initiatives, to monitor and secure their waters, enforce their laws, and deter unlawful behavior. We look forward to India hosting the inaugural MAITRI workshop in 2025. Furthermore, we welcome the launch of a Quad maritime legal dialogue to support efforts to uphold the rules-based maritime order in the Indo-Pacific. In addition, Quad partners intend to layer new technology and data into IPMDA over the coming year, to continue to deliver cutting edge capability and information to the region.

    We are also announcing today that the U.S. Coast Guard, Japan Coast Guard, Australian Border Force, and Indian Coast Guard, plan to launch a first-ever Quad-at-Sea Ship Observer Mission in 2025, to improve interoperability and advance maritime safety, and continuing with further missions in future years across the Indo-Pacific. 

    We also announce today the launch of a Quad Indo-Pacific Logistics Network pilot project, to pursue shared airlift capacity among our nations and leverage our collective logistics strengths, in order to support civilian response to natural disasters more rapidly and efficiently across the Indo-Pacific region.

    Quality Infrastructure

    The Quad remains committed to improving the region’s connectivity through the development of quality, resilient infrastructure.

    We are pleased to announce the Quad Ports of the Future Partnership, which will harness the Quad’s expertise to support sustainable and resilient port infrastructure development across the Indo-Pacific, in collaboration with regional partners. In 2025, we intend to hold a Quad Regional Ports and Transportation Conference, hosted by India in Mumbai. Through this new partnership, Quad partners intend to coordinate, exchange information, share best practices with partners in the region, and leverage resources to mobilize government and private sector investments in quality port infrastructure across the Indo-Pacific region.

    We applaud the expansion of the Quad Infrastructure Fellowships to more than 2,200 experts, and note that Quad partners have already provided well over 1,300 fellowships since the initiative was announced at last year’s Summit. We also appreciate the workshop organized by the Coalition for Disaster Resilient Infrastructure in India, working to empower partners across the Indo-Pacific to strengthen power sector resilience.

    Through the Quad Partnership for Cable Connectivity and Resilience, we continue to support and strengthen quality undersea cable networks in the Indo-Pacific, the capacity, durability, and reliability of which are inextricably linked to the security and prosperity of the region and the world. In support of these efforts, Australia launched the Cable Connectivity and Resilience Centre in July, which is delivering workshops and policy and regulatory assistance in response to requests from across the region. Japan will extend technical cooperation to improve public ICT infrastructure management capacity for an undersea cable in Nauru and Kiribati. The United States has conducted over 1,300 capacity building trainings for telecommunication officials and executives from 25 countries in the Indo-Pacific; today the U.S. announces its intent, working with Congress, to invest an additional $3.4 million to extend and expand this training program.

    Investments in cable projects by Quad partners will help support all Pacific island countries in achieving primary telecommunication cable connectivity by the end of 2025. Since the last Quad Leaders’ Summit, Quad partners have committed over $140 million to undersea cable builds in the Pacific, alongside contributions from other likeminded partners. Complementing these investments in new undersea cables, India has commissioned a feasibility study to examine expansion of undersea cable maintenance and repair capabilities in the Indo-Pacific.

    We reaffirm our support for the Pacific Quality Infrastructure Principles, which are an expression of Pacific voices on infrastructure.

    We underscore our commitment to an inclusive, open, sustainable, fair, safe, reliable and secure digital future to advance our shared prosperity and sustainable development across the Indo-Pacific. In this context, we welcome the Quad Principles for Development and Deployment of Digital Public Infrastructure.

    Critical and Emerging Technologies

    Today, we are proud to announce an ambitious expansion of our partnership to deliver trusted technology solutions to the broader Indo-Pacific region.

    Last year, Quad partners launched a landmark initiative to deploy the first Open Radio Access Network (RAN) in the Pacific, in Palau, to support a secure, resilient, and interconnected telecommunications ecosystem. Since then, the Quad has pledged approximately $20 million to this effort.

    Quad partners also welcome the opportunity to explore additional Open RAN projects in Southeast Asia. We plan to expand support for ongoing Open RAN field trials and the Asia Open RAN Academy (AORA) in the Philippines, building on the initial $8 million in support that the United States and Japan pledged earlier this year. The United States also plans to invest over $7 million to support the global expansion of AORA, including through establishing a first-of-its-kind Open RAN workforce training initiative at scale in South Asia, in partnership with Indian institutions.

    Quad partners will also explore collaborating with the Tuvalu Telecommunications Corporation to ensure the country’s readiness for nationwide 5G deployment.

    We remain committed to advancing our cooperation on semiconductors through better leveraging of our complementary strengths to realize a diversified and competitive market and enhance resilience of Quad’s semiconductor supply chains. We welcome a Memorandum of Cooperation between Quad countries for the Semiconductor Supply Chains Contingency Network.

    Through the Advancing Innovations for Empowering NextGen Agriculture (AI-ENGAGE) initiative announced at last year’s Summit, our governments are deepening leading-edge collaborative research to harness artificial intelligence, robotics, and sensing to transform agricultural approaches and empower farmers across the Indo-Pacific. We are pleased to announce an inaugural $7.5+ million in funding opportunities for joint research, and welcome the recent signing of a Memorandum of Cooperation between our science agencies to connect our research communities and advance shared research principles.

    The United States, Australia, India, and Japan look forward to launching the Quad BioExplore Initiative—a funded mechanism that will support joint AI-driven exploration of diverse non-human biological data across all four countries.

    This project will also be underpinned by the forthcoming Quad Principles for Research and Development Collaborations in Critical and Emerging Technologies.

    Climate and Clean Energy

    As we underscore the severe economic, social, and environmental consequences posed by the climate crisis, we continue to work together with Indo-Pacific partners, including through Quad Climate Change Adaptation and Mitigation Package (Q-CHAMP), to enhance climate and clean energy cooperation as well as promote adaptation and resilience. We emphasize the significant benefits of transitioning to a clean energy economy for our people, our planet, and our shared prosperity. Our countries intend to strengthen our cooperation to align policies, incentives, standards, and investments around creating high-quality, diversified clean energy supply chains that will enhance our collective energy security, create new economic opportunities across the region, and benefit local workers and communities around the world, particularly across the Indo-Pacific.

    We will work together, through policy and public finance, to operationalize our commitment to catalyzing complementary and high-standard private sector investment in allied and partner clean energy supply chains. To this end, Australia will open applications for the Quad Clean Energy Supply Chains Diversification Program in November, providing AUD 50 million to support projects that develop and diversify solar panel, hydrogen electrolyzer and battery supply chains in the Indo-Pacific. India commits to invest $2 million in new solar projects in Fiji, Comoros, Madagascar, and Seychelles. Japan has committed to $122 million grants and loans in renewable energy projects in Indo-Pacific countries. The United States, through DFC, will continue to seek opportunities to mobilize private capital to solar, as well as wind, cooling, batteries, and critical minerals to expand and diversify supply chains.

    We are pleased to announce a focused Quad effort to boost energy efficiency, including the deployment and manufacturing of high-efficiency affordable, cooling systems to enable climate-vulnerable communities to adapt to rising temperatures while simultaneously reducing strain on the electricity grid.

    We jointly affirm our commitment to addressing the challenges posed by climate change and ensure the resilience and sustainability of port infrastructure. Quad partners will leverage our learning and expertise to forge a path towards sustainable and resilient port infrastructure, including through the Coalition for Disaster Resilient Infrastructure (CDRI).

    Cyber

    In the face of a deteriorating security environment in the cyber domain, Quad countries intend to enhance our cybersecurity partnership to address common threats posed by state-sponsored actors, cybercriminals, and other non-state malicious actors. Our countries commit to taking concrete steps to increase our collective network defense and advance technical capabilities through greater threat information sharing and capacity building. We plan to coordinate joint efforts to identify vulnerabilities, protect national security networks and critical infrastructure networks, and coordinate more closely including on policy responses to significant cybersecurity incidents affecting the Quad’s shared priorities.

    Quad countries are also partnering with software manufacturers, industry trade groups, and research centers to expand our commitmentto pursuing secure software development standards and certification, as endorsed in the Quad’s 2023 Secure Software Joint Principles. We will work to harmonize these standards to not only ensure that the development, procurement, and end-use of software for government networks is more secure, but that the cyber resilience of our supply chains, digital economies, and societies are collectively improved. Throughout this fall, Quad countries each plan to host campaigns to mark the annual Quad Cyber Challenge promoting responsible cyber ecosystems, public resources, and cybersecurity awareness. We are constructively engaging on the Quad Action Plan to Protect Commercial Undersea Telecommunications Cables, developed by the Quad Senior Cyber Group, as a complementary effort to the Quad Partnership for Cable Connectivity and Resilience. Our coordinated actions to protect global telecommunications infrastructure as guided by the Action Plan will advance our shared vision for future digital connectivity, global commerce, and prosperity. 

    Space

    We recognize the essential contribution of space-related applications and technologies in the Indo-Pacific. Our four countries intend to continue delivering Earth Observation data and other space-related applications to assist nations across the Indo-Pacific to strengthen climate early warning systems and better manage the impacts of extreme weather events. In this context, we welcome India’s establishment of a space-based web portal for Mauritius, to support the concept of open science for space-based monitoring of extreme weather events and climate impact.

    Quad Investors Network (QUIN)

    We welcome private sector initiatives—including the Quad Investors Network (QUIN), which facilitates investments in strategic technologies, including clean energy, semiconductors, critical minerals, and quantum. The QUIN is mobilizing a number of investments to promote supply chain resilience, advance joint research and development, commercialize new technologies, and invest in our future workforce.

    People-to-People Initiatives

    The Quad is committed to strengthening the deep and enduring ties between our people, and among our partners. Through the Quad Fellowship, we are building a network of the next generation of science, technology, and policy leaders. Together with the Institute of International Education, which leads implementation of the Quad Fellowship, Quad governments welcome the second cohort of Quad Fellows and the expansion of the program to include students from ASEAN countries for the first time. The Government of Japan is supporting the program to enable Quad Fellows to study in Japan. The Quad welcomes the generous support of private sector partners for the next cohort of fellows, including Google, the Pratt Foundation, and Western Digital.

    India is pleased to announce a new initiative to award fifty Quad scholarships, worth $500,000, to students from the Indo-Pacific to pursue a 4-year undergraduate engineering program at a Government of India-funded technical institution.

    Working Together to Address Regional and Global Issues

    Today we reaffirm our consistent and unwavering support for ASEAN centrality and unity. We continue to support implementation of the ASEAN Outlook on the Indo-Pacific (AOIP) and are committed to ensuring the Quad’s work is aligned with ASEAN’s principles and priorities.

    We underscore ASEAN’s regional leadership role, including in the East Asia Summit, the region’s premier leader-led forum for strategic dialogue, and the ASEAN Regional Forum. As comprehensive strategic partners of ASEAN, our four countries intend to continue to strengthen our respective relationships with ASEAN and seek opportunities for greater Quad collaboration in support of the AOIP.

    We recommit to working in partnership with Pacific island countries to achieve shared aspirations and address shared challenges. We reaffirm our support for Pacific regional institutions that have served the region well over many years, with the PIF as the region’s premier political and economic policy organization, and warmly welcome Tonga’s leadership as the current PIF Chair in 2024-2025. We continue to support the objectives of the 2050 Strategy for the Blue Pacific Continent. We and our governments will continue to listen to and be guided at every step by Pacific priorities, including climate action, ocean health, resilient infrastructure, maritime security and financial integrity. In particular, we acknowledge climate change remains the single greatest threat to the livelihoods, security and wellbeing of the peoples of the Pacific and applaud Pacific island countries’ global leadership on climate action.

    We remain committed to strengthening cooperation in the Indian Ocean region. We strongly support IORA as the Indian Ocean region’s premier forum for addressing the region’s challenges. We recognize India’s leadership in finalizing the IORA Outlook on the Indo-Pacific (IOIP) and express our support for its implementation. We thank Sri Lanka for its continued leadership as IORA Chair through this year and look forward to India’s assuming the IORA Chair in 2025. 

    As Leaders, we are steadfast in our conviction that international law, including respect for sovereignty and territorial integrity, and the maintenance of peace, safety, security and stability in the maritime domain, underpin the sustainable development, and prosperity of the Indo-Pacific. We emphasize the importance of adherence to international law, particularly as reflected in the United Nations Convention on the Law of the Sea (UNCLOS), to address challenges to the global maritime rules-based order, including with respect to maritime claims. We are seriously concerned about the situation in the East and South China Seas. We continue to express our serious concern about the militarization of disputed features, and coercive and intimidating maneuvers in the South China Sea. We condemn the dangerous use of coast guard and maritime militia vessels, including increasing use of dangerous maneuvers. We also oppose efforts to disrupt other countries’ offshore resource exploitation activities.We reaffirm that maritime disputes must be resolved peacefully and in accordance with international law, as reflected in UNCLOS. We re-emphasize the importance of maintaining and upholding freedom of navigation and overflight, other lawful uses of the sea, and unimpeded commerce consistent with international law. We re-emphasize the universal and unified character of UNCLOS and reaffirm that UNCLOS sets out the legal framework within which all activities in the oceans and the seas must be carried out. We underscore that the 2016 Arbitral Award on the South China Sea is a significant milestone and the basis for peacefully resolving disputes between the parties.

    Together, with our global and regional partners, we continue to support international institutions and initiatives that underpin global peace, prosperity and sustainable development. We reiterate our unwavering support for the UN Charter and the three pillars of the UN system. In consultation with our partners, we will work collectively to address attempts to unilaterally undermine the integrity of the UN, its Charter, and its agencies. We will reform the UN Security Council, recognizing the urgent need to make it more representative, inclusive, transparent, efficient, effective, democratic and accountable through expansion in permanent and non-permanent categories of membership of the UN Security Council. This expansion of permanent seats should include representation for Africa, Asia, Latin America and the Caribbean in a reformed Security Council.

    We stand for adherence to international law and respect for principles of the UN Charter, including territorial integrity, sovereignty of all states, and peaceful resolution of disputes. We express our deepest concern over the war raging in Ukraine including the terrible and tragic humanitarian consequences. Each of us has visited Ukraine since the war began, and seen this first-hand; we reiterate the need for a comprehensive, just, and lasting peace in line with international law, consistent with the purposes and principles of the UN Charter, including respect for sovereignty and territorial integrity. We also note the negative impacts of the war in Ukraine with regard to global food and energy security, especially for developing and least developed countries. In the context of this war, we share the view that the use, or threat of use, of nuclear weapons is unacceptable. We underscore the importance of upholding international law, and in line with the UN Charter, reiterate that all states must refrain from the threat of or use of force against the territorial integrity and sovereignty or political independence of any state.

    We condemn North Korea’s destabilizing ballistic missile launches and its continued pursuit of nuclear weapons in violation of multiple UN Security Council resolutions (UNSCRs). These launches pose a grave threat to international peace and stability. We urge North Korea to abide by all its obligations under the UNSCRs, refrain from further provocations and engage in substantive dialogue. We reaffirm our commitment to the complete denuclearization of the Korean Peninsula consistent with relevant UNSCRs and call on all countries to fully implement these UNSCRs. We stress the need to prevent any proliferation of nuclear and missile technologies related to North Korea in the region and beyond. We express our grave concern over North Korea’s use of proliferation networks, malicious cyber activity and workers abroad to fund its unlawful weapons of mass destruction and ballistic missile programs. In that context, we urge all UN Member States to abide by the relevant UNSCRs including the prohibition on the transfer to North Korea or procurement from North Korea of all arms and related materiel. We express deep concern about countries that are deepening military cooperation with North Korea, which directly undermines the global nonproliferation regime. As the mandate of the UN Panel of Experts tasked with monitoring violations of North Korea-related UNSCR sanctions was not renewed, we reiterate our commitment to continued implementation of the relevant UNSCRs which remain in full force. We reconfirm the necessity of immediate resolution of the abductions issue.

    We remain deeply concerned by the worsening political, security and humanitarian situation in Myanmar, including in Rakhine State, and again call for an immediate cessation of violence, the release of all those unjustly and arbitrarily detained, safe and unhindered humanitarian access, resolution of the crisis through constructive and inclusive dialogue among all stakeholders, and a return to the path of inclusive democracy. We reaffirm our strong support for ASEAN-led efforts, including the work of the ASEAN Chair and the Special Envoy of the ASEAN Chair on Myanmar. We call for full implementation of all commitments under the ASEAN Five-Point Consensus. The ongoing conflict and instability have serious implications for the region, including increases in transnational crime such as cybercrime, the illegal drug trade, and human trafficking. We restate our appeal to all States to prevent the flow of arms and dual-use material, including jet fuel. We remain resolute in our support for the people of Myanmar and commit to continuing to work with all stakeholders in a pragmatic and constructive way, to find a sustainable solution to the crisis in a process which is led by the people of Myanmar and returns Myanmar to the path of democracy.

    We call upon all States to contribute to the safe, peaceful, responsible, and sustainable use of outer space. We remain committed to fostering international cooperation and transparency, as well as confidence-building measures with the goal of improving the security of outer space for all States. We reaffirm the importance of upholding the existing international legal framework for outer space activities, including the Outer Space Treaty, and the obligation of all States Parties to the Treaty not to place in orbit around the Earth any objects carrying nuclear weapons or any other kinds of weapons of mass destruction, install such weapons on celestial bodies, or station such weapons in outer space in any other manner.

    The Quad reaffirms its commitment to fostering a resilient information environment including through its Countering Disinformation Working Group by supporting media freedom and addressing foreign information manipulation and interference, including disinformation, which undermines trust and sows discord in the international community. We recognize these tactics are intended to interfere with domestic and international interests, and we are committed, together with our regional partners, to leverage our collective expertise and capacity to respond. We reaffirm our commitment to respect international human rights law, strengthen civil society, support media freedom, address online harassment and abuse, including technology-facilitated gender-based violence, and counter unethical practices.

    We unequivocally condemn terrorism and violent extremism in all its forms and manifestations, including cross-border terrorism. We are committed to international cooperation and will work with our regional partners in a comprehensive and sustained manner to strengthen their capability to prevent, detect and respond to threats posed by terrorism and violent extremism, including threats posed by the use of new and emerging technologies for terrorist purposes, consistent with international law. We are committed to working together to promote accountability for the perpetrators of such terrorist attacks. We reiterate our condemnation of terrorist attacks including the 26/11 attacks in Mumbai and in Pathankot, and our commitment to pursuing designations, as appropriate, by the UN Security Council 1267 Sanctions Committee. We welcome the constructive discussions held at the first Quad Working Group on Counter-Terrorism and the fourth tabletop exercise in Honolulu last year, and look forward to Japan hosting the next meeting and tabletop exercise in November 2024.

    We share great interest in achieving peace and stability in the Middle East. We unequivocally condemn the terror attacks on October 7, 2023. The large-scale loss of civilian lives and the humanitarian crisis in Gaza is unacceptable. We affirm the imperative of securing the release of all hostages held by Hamas, and emphasize that the deal to release hostages would bring an immediate and prolonged ceasefire in Gaza. We underscore the urgent need to significantly increase deliveries of life-saving humanitarian assistance throughout Gaza as well as the crucial need to prevent regional escalation. We urge all parties to comply with international law, including international humanitarian law, as applicable. We welcome UNSCR S/RES/2735 (2024), and strongly urge all parties concerned to work immediately and steadily toward the release of all hostages and an immediate ceasefire. We call on all parties to take every feasible step to protect the lives of civilians including aid workers, and facilitate the rapid, safe and unimpeded humanitarian relief to civilians. We also encourage other countries, including those in the Indo-Pacific, to increase their support in order to address the dire humanitarian need on the ground. We underscore that the future recovery and reconstruction of Gaza should be supported by the international community. We remain committed to a sovereign, viable and independent Palestinian state taking into account Israel’s legitimate security concerns as part of a two-state solution that enables both Israelis and Palestinians to live in a just, lasting, and secure peace. Any unilateral actions that undermine the prospect of a two-state solution, including Israeli expansion of settlements and violent extremism on all sides, must end. We underscore the need to prevent the conflict from escalating and spilling over in the region.

    We condemn the ongoing attacks perpetrated by the Houthis and their supporters against international and commercial vessels transiting through the Red Sea and Gulf of Aden, which are destabilizing the region and impeding navigational rights and freedoms and trade flows, and jeopardize the safety of vessels and people on board including sailors.

    We reaffirm our commitment to the implementation of the 2030 Agenda and the achievement of its Sustainable Development Goals (SDGs). We underscore the importance of achieving the SDGs in a comprehensive manner without selectively prioritizing a narrow set of such goals, and reaffirm that the UN has a central role in supporting countries in their implementation. With six years left, we remain steadfast in our commitment to the full implementation of the 2030 Agenda for Sustainable Development and accelerating progress toward all the SDGs in a comprehensive manner that is balanced across three dimensions – economic, social and environmental. From global health to sustainable development and climate change, the global community benefits when all stakeholders have the opportunity to contribute to addressing these challenges. We affirm our commitment to contributing to and implementing the Women, Peace and Security (WPS) Agenda and to achieving gender equality and the empowerment of all women and girls. We underscore our commitment to strongly engaging constructively in the discussion on advancing sustainable development, including at the Summit of the Future. The Quad continues to realize a safe and secure world where human rights and human dignity are protected, based on the central premise of the SDGs: “Leave no one behind.”

    We, the Quad Leaders, remain dedicated to working in partnership with Indo-Pacific countries in deciding our future and shaping the region we all want to live in.

    Enduring Partners for the Indo-Pacific

    Over the past four years, Quad Leaders have met together six times, including twice virtually, and Quad Foreign Ministers have met eight times in the last five years. Quad country representatives meet together on a regular basis, at all levels, including among ambassadors across the four countries’ extensive diplomatic networks, to consult one another, exchange ideas to advance shared priorities, and deliver benefits with and for partners across the Indo-Pacific region. We welcome our Commerce and Industry ministers preparing to meet for the first time in the coming months. We also welcome the leaders of our Development Finance Institutions and Agencies deciding to meet to explore future investments by the four countries in the Indo-Pacific. Altogether, our four countries are cooperating at an unprecedented pace and scale.

    Each of our governments has committed to working through our respective budgetary processes to secure robust funding for Quad priorities in the Indo-Pacific region to ensure an enduring impact. We intend to work with our legislatures to deepen interparliamentary exchanges, and encourage other stakeholders to deepen engagement with Quad counterparts.

    We look forward to the next Quad Foreign Ministers’ meeting hosted by the United States in 2025, and the next Quad Leaders’ Summit hosted by India in 2025. The Quad is here to stay.

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    MJPS/ST

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    MIL OSI Asia Pacific News

  • MIL-OSI China: High tech propels bumper harvests in China’s grain-producing provinces

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

    BEIJING, Sept. 22 — As autumn harvest approaches, Li Yucheng smiles at the sight of his thriving paddy fields, where golden ears of rice dance in the breeze and stalks stand tall against the backdrop of fertile black soil.

    “We planted 800 hectares of rice this year. Despite facing challenges from low temperatures and rainy weather early on, we nurtured the crops back to health, and the yield is expected to exceed 9 tonnes per hectare,” said Li, chairman of a modern agricultural machinery cooperative in Huachuan County, northeast China’s Heilongjiang Province.

    According to Li, the cooperative has implemented high-tech equipment, including agricultural Internet of Things devices, micro weather stations and pest monitoring systems. The dynamic data can be monitored right from the mobile phone, making field management more accurate and efficient, he added.

    Back in 1998, when Li first started farming, he spent over 200 days a year in the fields, managing just around 5.33 hectares of rice. Now, thanks to advanced agricultural machinery such as high-horsepower tractors and plant protection drones, he works in the fields for no more than 100 days a year.

    Li emphasized the importance the government has attached to grain production over the years, highlighting measures such as reducing agricultural taxes, providing grain subsidies and offering training in agricultural techniques. “I am now full of confidence in grain production,” he said.

    Dubbed China’s grain barn, Heilongjiang has taken the lead in the country’s agricultural modernization, with the overall mechanization rate for crop cultivation and harvesting reaching 99.07 percent. The province’s grain output reached 77.88 billion kg in 2023, securing its position as China’s top producer for the 14th consecutive year.

    In the central granary province of Henan, continuous improvements in agricultural infrastructure and the application of advanced technology have also significantly increased grain yields.

    In Yuanwu Township of Xinxiang City, grain farmer Shen Jifeng coordinated early with a nearby agricultural machinery cooperative to schedule the harvest of over 20 hectares of corn.

    “The yield is expected to be around 9,750 kg per hectare,” Shen noted, adding that with the help of machinery, the harvest will be completed in just two days.

    Shen also noted that the agricultural department regularly provides vital information, including meteorological alerts, soil moisture data, pest reports and field management suggestions. This information is partially sourced from a pole on his field equipped with solar panels, high-definition cameras, atmospheric sensors and other devices.

    Developed by the Central-China Agricultural Valley, an agricultural innovation platform, the pole is connected to a buried soil sensor that continuously transmits various data. The data is processed to assess weather, soil conditions and seedling health, according to Yin Yue, a platform staff member.

    Henan plans to establish a total of 1 million hectares of demonstration zones for high-standard farmland by 2025, aiming to increase grain production capacity from 65 to 70 billion kg.

    Technology also ensures food security in mountainous regions. In southwestern Guizhou Province, where mountainous and hilly areas account for 92.5 percent of the total land, per capita arable land is only 0.09 hectares, below the national average.

    At a modern seed breeding center in Kaiyang County, digital workshops are in full operation, and automated facilities are engaged in production. The center has bred over 10 new vegetable varieties, including peppers, tomatoes, kale, broccoli and eggplant, which were developed by domestic and international research institutions and seed industry enterprises.

    “Through advanced technologies such as digital control, precision planting and tidal seedling breeding, we can produce 6 to 7 million seedlings per crop cycle,” said Chen Fucai, technical director of Guizhou modern seed industry company, which manages the breeding center. Remarkably, two to three workers can oversee more than 4,000 square meters of seedling area.

    Since April 2023, Guizhou has launched innovation and entrepreneurship initiatives for agricultural technicians, attracting 2,874 professional teams to contribute scientifically to improving grain and oil yields. Additionally, a project to cultivate high-quality farmers is scheduled to train over 10,000 individuals in cultural, technical and management skills.

    China celebrates its seventh farmers’ harvest festival on Sunday. The country continues to prioritize food security, as it feeds over 1.4 billion people with only 9 percent of the world’s arable land. Over the past years, various measures have been implemented to improve grain output, including building more high-standard farmland and promoting agricultural technologies.

    By the end of 2023, China has developed over 66.7 million hectares of high-standard farmland, with 13 key grain-producing provincial-level regions accounting for around 70 percent of the total.

    MIL OSI China News

  • MIL-OSI: Bitget Launchpool Lists WATCoin (WAT) with 1.57 Billion WAT tokens for to Lock Bitcoin (BTC), Ethereum (ETH) and Mocacoin (MOCA)

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Sept. 22, 2024 (GLOBE NEWSWIRE) — Bitget, the world’s leading cryptocurrency exchange and Web3 company, is set to list WATCoin (WAT), providing eligible users the opportunity to lock BTC, ETH, and MOCA in exchange for a share of 1,571,000,000 WAT. This promotional event will commence on September 20, 2024, at 10:00 (UTC) and run for ten days, allowing participants to maximize their holdings during this period.

    WATCoin (WAT) is part of a rapidly growing gaming ecosystem on the TON blockchain, boasting over 80 million lifetime users. It has one of the highest user retention rates among leading Telegram games, exceeding 25%. WATCoin is incubated by GAMEE, a mobile studio with a decade of experience and backing from notable names such as Animoca Brands and Binance Labs. Additional investment has been secured from Pantera, Kingsway, and TON Ventures, alongside a grant from the TON Foundation. WATCoin aims to be the primary platform for all TON projects within the Animoca portfolio and its partners. It has previously collaborated with projects like Notcoin and Blum, indicating its potential to accumulate value through its expanding network of partnerships.

    The locking period for this promotion spans from September 20, 2024, at 10:00 (UTC) to September 30, 10:00 (UTC). Participants can select from three distinct locking pools based on their preferred assets: BTC, ETH, or MOCA. Each pool has specific maximum and minimum locking limits, with the WAT allocation distributed based on the participant’s locked volume in proportion to the total locked volume within that pool.

    The BTC locking pool offers a total airdrop of 744,000,000 WAT, with a maximum limit of 2 BTC and a minimum limit of 0.0001 BTC. Users’ airdrop shares will be calculated based on their contribution to the overall BTC pool volume. Similarly, the ETH pool provides another 744,000,000 WAT for distribution, with a maximum of 15 ETH and a minimum of 0.002 ETH required for participation. The third option, the MOCA locking pool, features a total airdrop of 83,000,000 WAT, accommodating a maximum of 2,000,000 MOCA and a minimum of 50 MOCA. The airdrop distribution method ensures that participants receive a fair share according to their asset allocation in each pool.

    Hourly snapshots of participants’ locked volumes will be taken, with the airdrops distributed accordingly. For instance, if a user locks their assets at 10:46 AM, the volume is confirmed at 11:00 AM, and the airdrop is then distributed at 12:00 PM. This continuous distribution process allows for efficient and timely reward allocation. Participants have the flexibility to unlock their assets at any point during the promotion, with locked assets being automatically returned upon unlocking.

    WATCoin’s launch on Bitget Launchpool signals a step forward for TON’s gaming ecosystem, showcasing its potential for growth and value generation within the blockchain gaming space.

    For more information on WAT tokens, please visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

    For more information, visit: WebsiteTwitterTelegramLinkedInDiscordBitget Wallet

    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice. For more information, see our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a5cfb082-cae5-484e-b9cc-6273256f4ba3

    The MIL Network

  • MIL-OSI Europe: Answer to a written question – The scourge of fentanyl and the increase in drug use – E-001422/2024(ASW)

    Source: European Parliament

    The EU Drugs Strategy 2021-2025[1] and its Action Plan[2] identify the EU drug policy priorities, including the reduction of the use of illicit drugs[3].

    The Council Framework Decision 2004/757/JHA[4] lays down minimum rules and penalties to combat drug trafficking. To effectively address synthetic drug threats, the 2023 EU Roadmap to fight drug trafficking and organised crime[5] foresees forging alliances as an explicit action.

    Accordingly, on 7 July 2023 the EU joined the Global Coalition to Address Synthetic Drug Threats, which deals with manufacture and trafficking of synthetic drugs, detecting threats and patterns, and public health aspects.

    The EU4Health Programme[6] may support Member States’ actions to reduce damage to health due to illicit drug use and addiction.

    The Commission is working closely with Member States to ensure that fentanyl and other opioid medications are subject to strict regulatory controls.

    This includes the enforcement of rigorous prescription guidelines and monitoring systems to prevent overprescribing and to identify potential abuse[7].

    Furthermore, the Commission, in collaboration with the European Medicines Agency (EMA), is developing and promoting guidelines for healthcare professionals on the safe prescription and management of medications with high potential for misuse[8].

    Since 2 July 2024, the EU Drugs Agency (EUDA[9]) has reinforced health and security threat assessment capabilities and promotes evidence-based interventions to raise awareness on the adverse effects of drugs[10].

    To address the increasing availability of drugs to young people on social media platforms, the Commission developed a Knowledge Package on Combating Drug Sales Online[11].

    • [1]  EU Drugs Strategy 2021-2025, OJ C 102I, 24.3.2021.
    • [2]  EU Drugs Action Plan 2021-2025, OJ C 272, 8.7.2021.
    • [3] Priority area 5.2 of the EU Drugs Strategy, Action 28 of the EU Drugs Action Plan.
    • [4] Council Framework Decision 2004/757/JHA of 25 October 2004 laying down minimum provisions on the constituent elements of criminal acts and penalties in the field of illicit drug trafficking.
    • [5] Communication from the Commission to the European Parliament and the Council on the EU roadmap to fight drug trafficking and organised crime, COM/2023/641 final.
    • [6] Regulation (EU) 2021/522 of the European Parliament and of the Council of 24 March 2021 establishing a Programme for the Union’s action in the field of health (‘EU4Health Programme’) for the period 2021-2027, and repealing Regulation (EU) No 282/2014, OJ L 107, 26.3.2021, p. 1.
    • [7] https://www.consilium.europa.eu/en/policies/opioids-drugs-heroin/,
    • [8] https://www.ema.europa.eu/en/medicines/psusa/psusa-00001370-202304, https://www.ema.europa.eu/en/medicines/psusa/psusa-00001370-202204
    • [9] Formerly European Monitoring Centre for Drugs and Drug Addiction (EMCDDA).
    • [10] Regulation (EU) 2023/1322 of the European Parliament and of the Council of 27 June 2023 on the European Union Drugs Agency (EUDA) and repealing Regulation (EC) No 1920/2006, OJ L 166, 30.6.2023, p. 16.
    • [11] https://home-affairs.ec.europa.eu/networks/european-union-Internet-forum-euif_en

    MIL OSI Europe News

  • MIL-OSI Europe: Germany: EIB boosts high-speed internet with €350 million InvestEU-backed loan

    Source: European Investment Bank

    Deutsche Glasfaser

    • EIB loan to fibre broadband provider Deutsche Glasfaser will enable up to 460,000 rural German households to access fibre optic internet.
    • Project builds on company’s existing network and will bring high-speed connections to underserved areas.
    • Loan is backed by the European Union’s InvestEU programme and addresses lack of investment in digital infrastructure in less populated areas.

    The European Investment Bank (EIB) is lending fibre broadband provider Deutsche Glasfaser (DG) €350 million to expand its network in Germany. The project will make high-speed internet available to some 460,000 homes and businesses in rural areas that lack high-capacity broadband.

    The network will provide retail internet services that are as much as 10 gigabits per second (Gbps) – faster than the broadband speed to which most consumers currently have access. The average download speed in most European countries is in the range of 100 megabits per second (Mbps) or below. Fibre optic infrastructure can support much higher bandwidth than traditional copper-based broadband technologies like DSL, VDSL or cable.

    This project benefits from risk sharing under the InvestEU programme of the European Union. It aims to address a lack of investment in high-speed digital infrastructure in less populated areas, where the costs and risks are typically higher for providers.

    “Improving digital services in rural areas will enhance living conditions and make these regions more attractive,” said EIB Vice-President Nicola Beer.  “At the same time, it will safeguard jobs and support both individuals and businesses in reaching their full potential. It makes these regions ‘future-proof’ by accommodating the growing bandwidth demands of modern internet applications – from cloud computing to remote work and education – and emerging technologies like virtual reality and the Internet of Things. Bridging the digital divide between rural areas and urban centres is essential to help rural regions compete more effectively, driving both economic growth and social progress.”

    European Commissioner for the Economy, Paolo Gentiloni, said: “The InvestEU programme is bringing high-speed internet for 460,000 homes and businesses in underserved areas in Germany, in partnership with the European Investment Bank and Deutsche Glasfaser. This investment will help close the digital divide and allow businesses to grow and create jobs. This is a tangible example of a Europe that invests in the future and leaves no one behind.”

    The EIB loan comes on top of a multi-billion-euro financing from commercial banks that DG secured in 2022 and 2024, enabling the company to expand a network currently spanning more than 2 million homes that have the potential to be connected. By the end of 2026, DG aims to make available fibre connections to over 3 million households in Germany, with a longer-term ambition to reach up to 6 million households in the country. The EIB loan has a positive signalling effect for further fundraising.

    ”We are pleased that the EIB is supporting us on our journey to bridge the digital divide in rural parts of Germany,” said DG Chief Executive Officer Andreas Pfisterer, “As the leading fibre player in rural and sub-urban Germany, we are clearly focused on bringing consumers and businesses in these areas to a state-of-the-art fibre network. Our integrated model of retail and wholesale via our open access platform is a key differentiator in the market and is an attractive offer for both the municipality and the citizens.”

    Anna Dimitrova, Chief Financial Officer of DG added: “I would like to thank the EIB for its trust in us and its commitment in pushing digital infrastructure in Germany. The new EIB loan is part of a broader ESG-linked financing package that will fund our projects over the next two plus years. Next to the EIB, our funding is based on a large consortium of banks and financial institutions, with most of them supporting us already for many years, being the fibre to the home pioneer in rural Germany.”

    Germany has been relatively slow in rolling out fibre broadband networks compared to other European countries. Only about 35% of households reached full-fibre connectivity in 2023 as opposed to an average 64% across the EU plus the UK. This project will support the targets of the German Digital Strategy and the European Digital Compass to provide all households with gigabit connectivity by 2030.

    Background information

    The European Investment Bank (EIB) is the long-term lending institution of the European Union. It finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality. The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs.

    The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

    Deutsche Glasfaser Group is the leading fibre broadband provider in rural and sub-urban Germany. As a FTTH pioneer and industry leader, Deutsche Glasfaser plans, builds and operates open-access fiber networks for private households, businesses and public institutions. The company aims to roll-out fiber networks across the nation, thereby contributing significantly to Germany’s digital transformation. With innovative planning and construction methods, Deutsche Glasfaser is the technology leader for fast and cost-efficient FTTH deployment. Deutsche Glasfaser is backed by the experienced digital infrastructure investors EQT and OMERS.

    MIL OSI Europe News

  • MIL-OSI USA: Jayapal, Bonamici, Merkley Introduce Legislation to Stop Predatory Payday Lending Practices

    Source: United States House of Representatives – Congresswoman Pramila Jayapal (7th District of Washington)

    WASHINGTON, DC – Congresswomen Pramila Jayapal (D-WA) and Suzanne Bonamici (D-OR) and Senator Jeff Merkley (D-OR) introduced legislation to protect consumers from predatory payday lending practices.

    The Stopping Abuse and Fraud in Electronic (SAFE) Lending Act of 2024 would safeguard consumers as predatory payday lenders have continued to flourish online despite laws passed by many states to stop abusive lending. Internet lenders hide behind layers of anonymously registered websites and “lead generators” to evade enforcement and can empty consumers’ bank accounts before they have a chance to assert their rights.

    “Payday lenders take advantage of working families, struggling to pay medical bills or rent, by trapping them in a seemingly endless cycle of debt,” said Congresswoman Pramila Jayapal. “I’m proud to lead this legislation with Congresswoman Bonamici that would protect consumers across the country by closing loopholes, increasing transparency, and putting an end to these predatory lending practices. Congress has a responsibly to protect hardworking people from bad actors, and that’s exactly what we will accomplish with our SAFE Lending Act.”

    “Predatory payday lenders rob hard-working individuals and families of their resources at a time when they are financially vulnerable,” said Congresswoman Suzanne Bonamici. “The SAFE Lending Act would finally put an end to the unscrupulous practices payday lenders use to trap consumers in an unending cycle of debt.”

    “Predatory payday lenders trap hardworking Americans in an inescapable vortex of debt,” said Senator Jeff Merkley. “Before we kicked payday lenders out of Oregon, they preyed on families in my blue-collar neighborhood. We need strong consumer protections to break this cycle of endless debt for families across America.”

    The SAFE Lending Act is endorsed by the National Consumer Law Center (on behalf of its low-income clients), Consumer Action, Consumer Federation of America, Main Street Alliance, U.S. PIRG, and UnidosUS. It would:

    1. Give Consumers Control of Their Own Bank Accounts

    • Prevent third parties from gaining control of a consumer’s account through remotely created checks (RCCs) – checks from a consumer’s bank account created by third parties. To prevent unauthorized RCCs, consumers would be able to preauthorize exactly who can create an RCC on his or her behalf, such as when traveling.
    • Allow consumers to cancel an automatic withdrawal in connection with a small-dollar loan. This would prevent an internet payday lender from stripping a checking account without a consumer being able to stop it.

     2. Allow Consumers to Regain Control of their Money and Increase Transparency

    • Require all lenders, including banks, to abide by state rules for the small-dollar, payday-like loans they may offer customers in a state. Many individual states currently have much tougher laws than the federal government. There is currently no federal cap on interest or limit on the number of times a loan can be rolled over.
    • Increase transparency and create a better understanding of the small-dollar loan industry by requiring payday lenders to register with the Consumer Financial Protection Bureau.
    • Ban overdraft fees on prepaid cards issued by payday lenders who use them to gain access to consumers’ funds and to add to the already exorbitant costs of payday loans.
    • Require the CFPB to monitor any other fees associated with payday prepaid cards and issue a rule banning any other predatory fees on prepaid cards.

     3. Ban Lead Generators and Anonymous Payday Lending

    • Some websites describe themselves as payday lenders but are actually “lead generators” that collect applications and auction them to payday lenders and others. This practice is rife with abuse and has led to fraudulent debt collection.
    • The SAFE Lending Act bans lead generators and anonymously registered websites in payday lending.

    The bill also requires the Government Accountability Office to conduct a study on access to capital on Tribal lands and directs the Consumer Financial Protection Bureau to promulgate rules to implement this legislation.  

    A one-page summary of the SAFE Lending Act can be found here. The full text of the legislation can be found here.

    In the House, the legislation is cosponsored by Representatives Susan Wild (D-PA) and Katie Porter (D-CA).

    The Senate, the legislation is cosponsored by Senators Tammy Baldwin (D-WI), Richard Blumenthal (D-CT), Ron Wyden (D-OR), Chris Van Hollen (D-MD), Bernie Sanders (I-VT), Dick Durbin (D-IL), Edward J. Markey (D-MA), Martin Heinrich (D-NM), and Tina Smith (D-MN).

    Issues: Jobs, Labor, & the Economy

    MIL OSI USA News

  • MIL-OSI USA: Blaine’s Bulletin – From Friendship to Fraud

    Source: United States House of Representatives – Representative Blaine Luetkemeyer (MO-03)

    Recently, I spoke with a resident from right here in Missouri who had fallen victim to a scam that seemed like something out of a thriller but, unfortunately, is becoming all too common. She shared a story about “Anna,” someone she believed she knew everything about—a person who had carefully built a genuine connection over time. “I had zero doubt that Anna was who she said she was. I knew everything about her, and I was certain she cared about me,” she explained. But that trust was shattered when the truth came out: it was all a carefully orchestrated scam.

    Sadly, this isn’t an isolated case. Many Missourians, or someone they know, have come dangerously close to being deceived. Whether it’s clicking a link that looks like it’s from your local bank or engaging with someone posing as a friend in need, we’re all just a moment away from falling into a scammer’s trap. These criminals are constantly evolving, using more sophisticated and deceptive tactics every day. Their goal is simple: steal your hard-earned money and personal information.

    Scammers are targeting Missourians through a variety of schemes—fake investments, fraudulent purchases, crypto, phony charities, and more. They’ve mastered the art of making their texts, phone calls, and online interactions appear legitimate, luring people into their web. Research shows that most scam victims don’t report these crimes. While property theft or vandalism is often reported to law enforcement, less than 30% of scam victims take that step. This underreporting is concerning because these scams are on the rise, and their financial and emotional toll can be just as devastating.

    Even here in Missouri, the anxiety over being scammed is growing. Over half of Americans say they frequently or occasionally worry about being tricked into sending money or sharing financial details. Even if you think you’re safe, nearly 20% of people admit to worrying occasionally, and with scammers becoming bolder, those numbers are likely to rise. These schemes leave deep scars—not only financially but emotionally. They prey on your trust, emotions, and the desire to improve your financial future, making them hard to detect until it’s too late.

    This week, my colleagues and I in Congress addressed this pressing issue during a hearing titled, “Protecting Americans’ Savings: Examining the Economics of the Multi-Billion Dollar Romance Confidence Scam Industry.” My top priority is combating these increasingly sophisticated criminals and the risks they pose to Missouri’s families and the nation’s financial security. While our U.S. financial system has safeguards to prevent money laundering and the financing of terrorism, scam victims are still being manipulated into unknowingly wiring large sums to foreign accounts. Scammers often coach their victims to bypass safeguards in the banking system like suspicious activity reports and finding ways around the system. It’s time to put an end to this chaos.

    I urge everyone to stay vigilant and protect yourself from falling victim. Don’t trust unsolicited messages or emails, especially if they request personal information or money. Verify any financial opportunities with trusted professionals or secure sources. Be cautious of anyone who tries to build a quick, deep connection, especially if they bring up investments or money.

    If you are ever targeted by a scam, report it to ic3.gov, the FBI’s Internet Crime Complaint Center.  It’s one of the most powerful tools we have in fighting back against these criminals and protecting our community from their traps.

    CONTACT US: I encourage you to visit my official website or call my offices in Jefferson City (573-635-7232) or Cottleville (636-327-7055) with your questions and concerns. If you want even greater access to what I am working on, please visit my YouTube siteFacebook page, and keep up-to-date with Twitter and Instagram.

                                                                                                                                                                         ###

    MIL OSI USA News

  • MIL-OSI USA: Bonneville County Man Sent to Prison for Distributing Child Sexual Abuse Material

    Source: US State of Idaho

    Home Newsroom Bonneville County Man Sent to Prison for Distributing Child Sexual Abuse Material

    [BOISE] – Attorney General Raúl Labrador has announced that Elias Daniel Medina, 27, was sentenced to 15 years in prison after pleading guilty to one count of Sexual Exploitation of a Child by Distribution of Sexually Exploitative Material, a felony punishable by up to 30 years in prison, and one count of Sexual Exploitation of a Child by Possession of Sexually Exploitative Material, a felony punishable by up to 10 years in prison. Medina was sentenced on September 18, 2024, by Bonneville County District Judge Bruce Pickett.
    “Our ICAC investigators and prosecutors work hard to keep predators off the streets and to deliver justice for these tragically young victims,” said Attorney General Labrador.  “I’m grateful for the partnerships that have been built across the state and the awareness raised in our communities, and for the judges who take these crimes seriously when determining sentences.”
    In October 2023, the Internet Crimes Against Children (ICAC) Unit received multiple CyberTips indicating that files containing child sexual abuse material (CSAM) were in accounts belonging to Medina. After obtaining search warrants, officers searched Medina’s home and devices, locating hundreds of files containing CSAM. Investigators also found Medina was distributing files containing CSAM to other internet users. The files depicted minor females ranging from approximately 3 to 13 years old. Many of these files depicted the minors engaged in sex acts with adult men.
    Judge Pickett sentenced Medina to a total of 15 years with 2 years fixed and 13 years indeterminate. Medina was ordered to pay reimbursement to Bonneville County for his representation and court costs and fees. Upon release, Medina will have to register as a sex offender pursuant to Idaho law.
    The investigation was led by Detective Jared Mendenhall with the Idaho Falls Police Department, who serves in the Attorney General’s ICAC Unit. The case was prosecuted by Deputy Attorney General Madison Allen.

    MIL OSI USA News

  • MIL-OSI Security: Leader of $4M International Telemarketing Scheme Convicted

    Source: United States Attorneys General 1

    A federal jury in North Carolina convicted a man today for his role in orchestrating a years-long telemarketing scheme that defrauded victims in the United States from a call center in Costa Rica.

    According to court documents and evidence presented at trial, Roger Roger, 40, of Costa Rica, led a fraudulent telemarketing scheme in which co-conspirators, who falsely posed as U.S. government officials, contacted victims in the United States to tell them that that they had won a substantial “sweepstakes” prize. After convincing victims, many of whom were elderly, that they stood to receive a significant financial prize, the co-conspirators told victims that they needed to make a series of up-front payments before collecting their supposed prize, purportedly for items such as taxes, customs duties, and other fees. Co-conspirators used a variety of means to conceal their true identities, including Voice over Internet Protocol technology, which made it appear as though they were calling from Washington, D.C., and other locations in the United States. Roger personally called victims from Costa Rica, using fake names and documents to trick the victims into believing they had won a sweepstakes prize. He also recruited and directed co-conspirators to mislead victims on the phone and to transmit victims’ payments from the United States to Costa Rica. The evidence at trial showed that Roger and his co-conspirators stole over $4 million from victims.

    Roger was convicted of one count of conspiracy to commit mail and wire fraud, four counts of wire fraud, one count of conspiracy to commit money laundering, and two counts of international money laundering. The defendant faces a maximum penalty of 25 years in prison on each of the conspiracy to commit mail and wire fraud and the wire fraud counts, because the jury found that these counts involved telemarketing that victimized at least 10 people over the age of 55, and 20 years in prison on each of the conspiracy to commit money laundering and money laundering counts. Sentencing will occur at a later date. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division; U.S. Attorney Dena J. King for the Western District of North Carolina; Inspector in Charge Tommy Coke of the U.S. Postal Inspection Service (USPIS) Atlanta Division; Special Agent in Charge Karen Wingerd of the IRS Criminal Investigation (IRS-CI) Cincinnati Field Office; and Special Agent in Charge Robert DeWitt of the FBI Charlotte Field Office made the announcement.

    The USPIS Atlanta Division, IRS-CI Cincinnati Field Office, and FBI Charlotte Field Office investigated the case. The La Grande, Oregon Police Department and Union County District Attorney Victim Assistance Office provided valuable assistance. The Justice Department’s Office of International Affairs worked with law enforcement partners in Costa Rica to secure Roger’s arrest and extradition.

    Trial Attorneys Andrew Jaco and Amanda Fretto Lingwood of the Criminal Division’s Fraud Section are prosecuting the case.

    If you or someone you know is age 60 or older and has been a victim of financial fraud, help is standing by at the National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311). This U.S. Department of Justice hotline, managed by the Office for Victims of Crime, is staffed by experienced professionals who provide personalized support to callers by assessing the needs of the victim and identifying relevant next steps. Case managers will identify appropriate reporting agencies, provide information to callers to assist them in reporting, connect callers directly with appropriate agencies, and provide resources and referrals, on a case-by-case basis. Reporting is the first step. Reporting can help authorities identify those who commit fraud, and reporting certain financial losses due to fraud as soon as possible can increase the likelihood of recovering losses. The hotline is staffed 7 days a week from 6:00 a.m. to 11:00 p.m. ET. English, Spanish and other languages are available.

    MIL Security OSI

  • MIL-OSI: Clover Leaf Capital Corp. Announces Adjournment of Special Meeting of Stockholders on Proposed Business Combination

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, FL and KANSAS CITY, KS, Sept. 20, 2024 (GLOBE NEWSWIRE) — Clover Leaf Capital Corp. (Nasdaq: CLOE) (“CLOE” or “Clover Leaf”), a publicly traded special purpose acquisition company, and Digital Ally, Inc. (Nasdaq: DGLY) (“Digital Ally”) today announced that on September 20, 2024, Clover Leaf convened and then adjourned, without conducting other business, its special meeting of its stockholders in lieu of its 2024 Annual Meeting of Stockholders (the “Meeting” ) to 10:00 a.m., Eastern Time on Friday, September 27, 2024. At the meeting, stockholders of Clover Leaf will be asked to vote on proposals to approve, among other things, its proposed initial business combination (the “Business Combination”) with Kustom Entertainment, Inc., a Nevada corporation (“Kustom Entertainment” or the “Company”), pursuant to an Agreement and Plan of Merger (as amended, the “Merger Agreement”), by and among Clover Leaf, CL Merger Sub, Inc., a Nevada corporation and a wholly-owned subsidiary of Clover Leaf (“Merger Sub”), Yntegra Capital Investments LLC, a Delaware limited liability company, in the capacity as the Purchaser Representative (as defined in the Merger Agreement) and Digital Ally, Inc., a Nevada corporation and the sole stockholder of the Company (“Digital Ally”). There is no change to the location, the record date, the purpose or any of the proposals to be acted upon at the Meeting.

    As a result of this change, the Meeting will now be held at 10:00 a.m. Eastern Time on Friday, September 27, 2024 via the live webcast at https://www.cstproxy.com/cloverlcc/bc2024. Also as a result of this change, the deadline for holders of Clover Leaf’s Class A common stock issued in Clover Leaf’s initial public offering to submit their shares for redemption in connection with the Business Combination, is being extended to 5:00 p.m. Eastern Time on Wednesday, September 25, 2024. The record date for Clover Leaf’s stockholders to vote in the Meeting remains July 24, 2024.

    Clover Leaf plans to continue to solicit proxies from stockholders during the period prior to the Meeting. Only the holders of the Clover Leaf’s common stock as of the close of business on July 24, 2024, the record date for the Meeting, are entitled to vote at the Meeting.

    If any Clover Leaf stockholder has any questions or need assistance, such stockholder should (i) reach out to his, her or its broker or (ii) contact Morrow Sodali LLC, Clover Leaf’s proxy solicitor, for assistance via e-mail at CLOE.info or toll-free call at 800-662-5200. Banks and brokers can place a collect call to Morrow Sodali LLC at 203-658-9400 or email at CLOE.info@investor.morrowsodali.com.

    About Kustom Entertainment, Inc.

    Kustom Entertainment, Inc., a recently formed wholly-owned subsidiary of Digital Ally, will provide oversight to currently wholly-owned subsidiaries TicketSmarter, Kustom 440, and BirdVu Jets.

    TicketSmarter offers tickets to more than 125,000 live events ranging from concerts to sports and theatre shows. TicketSmarter is the official ticket resale partner of over 35 collegiate conferences, over 300 universities, and hundreds of events and venues nationally. TicketSmarter is a primary and secondary ticketing solution for events and high-profile venues across North America. For more information on TicketSmarter, visit www.Ticketsmarter.com.

    Established in late 2022, Kustom 440 is an entertainment division of Kustom Entertainment, Inc., whose mission it is to attract, manage and promote concerts, sports and private events. Kustom 440 is unique in that it brings a primary and secondary ticketing platform, in addition to its well-established relationships with artists, venues, and municipalities. For more information on Kustom 440, visit www.Kustom440.com.

    Kustom Entertainment operates through its wholly-owned subsidiaries TicketSmarter, Inc. (“TicketSmarter”), Kustom 440, Inc. (“Kustom 440”), and BirdVu Jets, Inc. (“BirdVu Jets”). Following the closing of the Business Combination, TicketSmarter, Kustom 440, and BirdVu Jets will combine their management teams and focus on concerts, entertainment and garnering additional ticketing partnerships, as well as using existing sponsorships and sports property partnerships to develop alternative entertainment options for consumers.

    About Clover Leaf Capital Corp.

    Clover Leaf Capital Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

    For more information, contact:

    Stanton E. Ross, CEO
    Info@kustoment.com
    Info@cloverlcc.com

    Forward-Looking Statements

    This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1955. These forward-looking statements include, without limitation, CLOE’s and Kustom Entertainment’s expectations with respect to the proposed business combination between CLOE and Kustom Entertainment, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the implied valuation of Kustom Entertainment, the products offered by Kustom Entertainment and the markets in which it operates, and Kustom Entertainment’s projected future results. Words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside CLOE’s and Kustom Entertainment’s control and are difficult to predict. Factors that may cause actual future events to differ materially from the expected results, include, but are not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of CLOE’s securities, (ii) the risk that the transaction may not be completed by CLOE’s business combination deadline, even if extended by its stockholders, (iii) and the potential failure to obtain an extension of the business combination deadline if sought by Clover Leaf; (iv) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the agreement and plan of merger (“Merger Agreement”) by the stockholders of CLOE, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vi) the failure to obtain any applicable regulatory approvals required to consummate the business combination; (vii) the receipt of an unsolicited offer from another party for an alternative transaction that could interfere with the business combination, (viii) the effect of the announcement or pendency of the transaction on Kustom Entertainment’s business relationships, performance, and business generally, (ix) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of the post-combination company to grow and manage growth profitability and retain its key employees, (x) costs related to the business combination, (xi) the outcome of any legal proceedings that may be instituted against Kustom Entertainment or CLOE following the announcement of the proposed business combination, (xii) the ability to maintain the listing of CLOE’s securities on the Nasdaq prior to the business combination, (xiii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities, (xiv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Kustom Entertainment operates, (xv) the risk that demand for Kustom Entertainment’s services may be decreased due to a decrease in the number of large-scale sporting events, concerts and theater shows, (xvi) the risk that any adverse changes in Kustom Entertainment’s relationships with buyer, sellers and distribution partners may adversely affect the business, financial condition and results of operations, (xvii) the risk that Changes in Internet search engine algorithms and dynamics, or search engine disintermediation, or changes in marketplace rules could have a negative impact on traffic for Kustom Entertainment’s sites and ultimately, its business and results of operations; (xviii) the risk that any decrease in the willingness of artists, teams and promoters to continue to support the secondary ticket market may result in decreased demand for Kustom Entertainment’s services; (xix) the risk that Kustom Entertainment is not able to maintain and enhance its brand and reputation in its marketplace, adversely affecting Kustom Entertainment’s business, financial condition and results of operations, (xx) the risk of the occurrence of extraordinary events, such as terrorist attacks, disease epidemics or pandemics, severe weather events and natural disasters, (xxi) the risk that because Kustom Entertainment’s operations are seasonal and its results of operations vary from quarter to quarter and year over year, its financial performance in certain financial quarters or years may not be indicative of, or comparable to, Kustom Entertainment’s financial performance in subsequent financial quarters or years; (xxii) the risk that periods of rapid growth and expansion could place a significant strain on Kustom Entertainment’s resources, including its employee base, which could negatively impact Kustom Entertainment’s operating results; (xxiii) the risk that Kustom Entertainment may never achieve or sustain profitability; (xxiv) the risk that Kustom Entertainment may need to raise additional capital to execute its business plan, which many not be available on acceptable terms or at all; (xxv) the risk that third-parties suppliers and manufacturers are not able to fully and timely meet their obligations, (xxvi) the risk that Kustom Entertainment is unable to secure or protect its intellectual property, (xxvii) the risk that the post-combination company’s securities will not be approved for listing on Nasdaq or if approved, maintain the listing and (xxviii) other risks and uncertainties indicated from time to time in the proxy statement and/or prospectus relating to the business combination, including those under the “Risk Factors” section therein and in CLOE’s other filings with the SEC. The foregoing list of factors is not exhaustive. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Kustom Entertainment and CLOE assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    Important Information and Where to Find It

    In connection with the transaction, CLOE has filed the Registration Statement with the SEC, which includes a proxy statement to be distributed to holders of CLOE’s common stock in connection with CLOE’s solicitation of proxies for the vote by CLOE’s stockholders with respect to the transaction and other matters as described in the Registration Statement, as well as a prospectus relating to the offer of the securities to be issued to Kustom Entertainment’s stockholder in connection with the transaction. Before making any voting or investment decision, investors and security holders and other interested parties are urged to read the Registration Statement, any amendments thereto and any other documents filed with the SEC carefully and in their entirety because they contain important information about CLOE, Kustom Entertainment and the transaction. Investors and security holders may obtain free copies of the proxy statement/prospectus and other documents filed with the SEC by CLOE through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: 1450 Brickell Avenue, Suite 2520, Miami, FL 33131.

    Participants in Solicitation

    CLOE and Kustom Entertainment and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the transaction. Information about the directors and executive officers of CLOE is set forth in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC on March 22, 2024. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, are included in the proxy statement/ prospectus and other relevant materials to be filed with the SEC regarding the transaction. Stockholders, potential investors and other interested persons should read the proxy statement/prospectus carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.

    No Offer or Solicitation

    This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, or an exemption therefrom.

    The MIL Network

  • MIL-OSI USA: Unregistered Municipal Advisory Activity in Public-Private Partnerships

    Source: Securities and Exchange Commission

    Good afternoon everyone. I want to thank The Bond Buyer for organizing this Infrastructure Conference and for inviting me today to talk about some important regulatory safeguards that were put in place a decade ago to help state and local governments make effective infrastructure investments.

    But before I begin, I must remind you that my remarks are in my official capacity as Director of the Securities and Exchange Commission’s Office of Municipal Securities, but do not necessarily reflect the views of the Commission, the Commissioners, or other members of the staff.

    These types of events give me a unique opportunity to speak directly to the municipal securities market about an issue that has framed my tenure with the Commission, first as a staff attorney serving as a principal drafter of the municipal advisor rules and now as the Director of the Office charged with overseeing municipal advisor regulation, namely unregistered entities engaging in municipal advisory activity.[1]

    Filling a Gap in the Regulatory Landscape

    To begin, I thought I would spend a few moments laying out the municipal advisor regulatory framework.

    Until the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act” or “Dodd-Frank”), advisors[2] to municipal entities[3] and obligated persons[4] were largely unregulated and were generally not required to register with the Commission or any other federal, state, or self-regulatory entity with respect to their municipal advisory activity.[5]

    Leaving the activities of these advisors generally unchecked, however, led to several cases of market abuses and economic damage to municipal entities and obligated persons.[6] For instance:

    • Congress found that a number of municipalities suffered losses from complex derivatives products that were marketed by unregulated financial intermediaries;[7]
    • The Commission brought action against a financial institution alleging payments by the financial institution to local firms whose principals or employees were friends of public officials in connection with a bond underwriting and interest rate swap agreement;[8] and
    • The Commission settled several actions against major financial institutions for their role in a series of complex, wide-ranging bid rigging schemes involving derivatives utilized by municipalities and underlying obligors as reinvestment products.[9]

    Dodd-Frank was enacted to generally strengthen oversight of the municipal securities market and to broaden current municipal securities market protections to cover, among other things, previously unregulated market activity.[10] Section 975 amended Section 15B of the Securities Exchange Act of 1934 (“Exchange Act”) creating a new class of regulated person required to register with the Commission: municipal advisors.[11] 

    Who Are Municipal Advisors?

    So, who are municipal advisors? Broadly speaking, municipal advisors assist municipal entities and obligated persons on the terms of bond offerings, investment of bond proceeds, and the structuring and pricing of related products.

    A “municipal advisor” is any person (who is not a municipal entity or an employee of a municipal entity) that:

    provides advice to or on behalf of a municipal entity or obligated person with respect to municipal financial products or the issuance of municipal securities, including advice with respect to the structure, timing, terms, and other similar matters concerning such financial products or issues; or undertakes a solicitation of a municipal entity or obligated person.[12]

    Key here is advice. As you may suspect, “advice” is not subject to a bright-line definition.[13] Instead, the determination of whether a person provides advice to, or on behalf of, a municipal entity or an obligated person regarding municipal advisory activity will depend on all the relevant facts and circumstances.[14] For purposes of the municipal advisor definition, advice includes, without limitation, recommendations that are particularized to the specific needs, objectives, or circumstances of a municipal entity or obligated person with respect to municipal financial products or the issuance of municipal securities, based on all the facts and circumstances.[15] Advice excludes, among other things, the provision of general information that does not involve a recommendation regarding municipal financial products or the issuance of municipal securities.[16]

    The focus of the advice standard is whether or not, under all of the relevant facts and circumstances, the information presented to a municipal entity or obligated person is sufficiently limited so that it does not involve a recommendation that constitutes advice.[17]

    The Exchange Act provides that municipal advisors and any person associated with such municipal advisor has a fiduciary duty to their municipal entity clients, prohibiting municipal advisors from engaging in any act, practice, or course of business that is not consistent with their fiduciary duty.[18] Although the Exchange Act does not provide that municipal advisors are deemed to have a fiduciary duty insofar as their advice is to non-municipal entity obligated person clients, some state fiduciary or agency laws may, depending on the facts and circumstances, apply to municipal advisor engagements with such obligated persons.[19] Municipal advisors do have other obligations to obligated person clients, such as a duty of fair dealing and a duty of care under current Municipal Securities Rulemaking Board (“MSRB”) rules.[20]

    Now that I have laid out the regulatory framework, I want to summarize the key takeaways:

    First, the Commission applies the term “municipal advisory activities”[21] to a range of activities, including, but not limited to developing financing plans, assisting in evaluating different financing options and structures, and evaluating and negotiating terms.[22]

    Second, advice is not subject to a bright-line definition. Advice includes a recommendation regarding municipal financial products or the issuance of municipal securities. The determination of whether a recommendation has been made is an objective inquiry and a key factor that the Commission will consider is whether the recommendation reasonably would be viewed as a suggestion to take action or refrain from taking action.[23]

    Third, any person engaging in municipal advisory activity will be considered a municipal advisor and have a fiduciary duty to their municipal entity client, unless an exclusion or exemption applies.

    Finally, under federal securities law, a person must register with the Commission and the MSRB prior to engaging in municipal advisory activities. Any person that engages in municipal advisory activity prior to registering with the Commission and the MSRB as a municipal advisor violates Section 15B(a)(1)(B) of the Exchange Act.[24]

    Observations on Public-Private Partnerships

    The roughly $4 trillion[25] municipal securities market provides critical support to our nation’s infrastructure. The funds raised by our states and local governments in the municipal securities market have helped remove lead from water pipes; built roads and bridges; modernized hospitals; built clean-energy infrastructure, and so much more to ensure that we have the infrastructure needed to access critical services. But for decades now, observers have noted that tight fiscal conditions and rising costs associated with maintaining and building infrastructure have prevented our states and local governments from investing in infrastructure at the levels needed.[26]

    Recently enacted legislation has made funding and incentives available for a broad range of infrastructure development[27] and may also serve as a potential catalyst for the private sector to help in closing infrastructure gaps, including through public-private partnerships (“P3”).[28]

    As everyone in the room is aware, leveraging private capital to finance public infrastructure is not a new tool. Much of our nation’s early infrastructure was built through partnerships between the public and private sectors.[29] More recently, P3s have been used as a delivery option for complex highway projects throughout the nation[30] and have been presented as a tool to finance projects in other sectors, such as energy infrastructure, affordable housing, school facilities, and telecom.[31]

    Despite their widespread use, there is no universally accepted definition of a P3.[32] P3s are broadly described as any contractual agreement between a public entity and a private entity for the purpose of financing, constructing, operating, managing, and/or maintaining a public asset and related services.[33]

    Let’s break that down a bit: P3s are long-term contractual arrangements between a public entity and private entity, where the private entity makes a financing commitment expecting to be repaid with future tax revenue or user fees or similar arrangement. The private entity signing and managing the P3 contract is typically a special purpose vehicle (SPV) created for the purpose of the P3 project and having equity investors.[34]

    Pretty straightforward: instead of using public resources that may be limited by budget or debt restrictions, private financing steps in as an alternative to building much needed infrastructure, potentially using the same taxes and fees that the municipal entity or obligated person would have used to finance the project if it had decided to finance on its own.

    Well, there is more to the story. Definitionally, P3s exist on a spectrum as an alternative form of procurement[35] but also on a spectrum as an alternative form of financing. Financing packages come in all types of configurations: equity, debt, or a combination sourced from both public and private sources, including private activity bonds (“PABs”), federal credit assistance, state, or local funding, which may include the issuance of municipal securities.[36]

    Compared to more traditional financings of infrastructure – that is, using federal, state, or local funding, which more likely than not includes the issuance of municipal securities – P3s and other non-traditional methodologies that have been developed to deliver and finance infrastructure needs are a bit more complex.

    This complexity has brought with it a range of concerns regarding the use of P3s. Public officials and state and local inspector generals and auditors have studied individual transactions and have issued findings identifying key areas of concern. These concerns include transferring too little or too much risk between the public and private sectors; not using the most efficient and lowest cost financing available to the municipal entity or obligated person; and having very costly long-term impacts to fix short-term budgetary issues.

    Public entities have also been exposed to all sorts of contingent liabilities, including compensation clauses, non-compete clauses, and availability payment escalation clauses, leading to potential increased financial and political burdens on the public entity. Uncontrollable external events, oftentimes impacting anticipated revenues, have seen public entities having to make the choice to either terminate, suspend, or take full control over a project, even though the risk of such events was supposed to be borne by other parties.[38]

    Pathways to Public-Private Partnerships

    In light of these potential hurdles, how does a municipal entity or obligated person go about deciding to finance an infrastructure project using a non-traditional form of procurement?

    One way would be for municipal entities and obligated persons to rely on individuals and firms – advisors, consultants, banks, engineers, accounting firms, developers, real estate managers, investment specialists, diversified financial services groups – collectively, what I will be referring to as “P3 Consultants” that have positioned themselves as financial, legal, and technical experts on P3s. Individual or groups of P3 Consultants are purportedly capable of providing tailored advice to municipal entities and obligated persons on the entire P3 lifecycle. However, various reports[39] have identified that P3 Consultants have engaged in concerning behavior, including:

    • Failure by P3 Consultants to disclose conflicts of interest between the P3 Consultant and subcontractors hired to provide a VfM analysis, leading to the skewing of project costs in favor of a P3 procurement.
    • P3 Consultants with no experience in municipal financing, failing to include a public sector comparator as part of the VfM analysis and resultingly being unable to demonstrate that the procurement would be maximizing VfM.
    • P3 Consultants advising municipal entities or obligated persons that P3s that only used private debt and equity funding sources would be considered an “off-balance sheet” financing, despite the fact that projects procured with a mix of public and private funding sources would, under accounting standards be required to be includable on the municipal entities balance sheet.[40]

    Soliciting a P3 Consultant

    In staff’s review of P3s in the municipal securities market, one of the first questions that we asked ourselves is how does the process get started – how does a municipal entity or obligated person connect with a P3 Consultant and does that raise any regulatory issues?

    Municipal entities and obligated persons often solicit a P3 Consultant through a competitive request for proposal/qualification (“RFP/Q”) process, where the municipal entity or obligated person has defined the infrastructure project scope; completed a preliminary VfM, or other process, which compares[41] the costs and benefits of a P3 or other non-traditional procurement method against a traditional procurement method; defined requirements related to construction, operation, and management of the project; and assessed potential financing arrangements. But P3 Consultants may also approach the municipal entity (or obligated person) through an Unsolicited Proposal (“USP”) process.[42]

    So, how does the RFP/Q process tie back to our municipal advisor regulatory framework?

    Well, responses to requests for RFP/Qs alone do not constitute municipal advisory activity.[43] Persons providing a response in writing or orally to a RFP/Q from a municipal entity or obligated person for services in connection with a municipal financial product or the issuance of municipal securities is exempt from the definition of municipal advisor provided that such person does not receive separate direct or indirect compensation for advice provided as part of such response.[44] However, Unsolicited Proposals that broadly seek input on any infrastructure project may not be a process that is consistent with the RFP exemption to the municipal advisor definition.[45]

    We have previously spoken about the parameters and level of formality of the RFP/Q process that would be needed to qualify for the RFP exemption.[46] Staff is of the view that the USP process would need to meet the same standards to qualify any responses for the exemption. Municipal entities, obligated persons, or registered municipal advisors acting on their behalf, should apply a similar degree of formality by identifying a particular objective for the USP process. Otherwise, any person responding to a USP would need to consider if the substance of their proposal requires registration as a municipal advisor.

    We have seen instances where P3 Consultants are originating an infrastructure project by identifying public asset gaps, proposing project design recommendations, providing project affordability analyses, and/or discussing the viability of a public infrastructure project in general terms. Without including material specifically tailored to the needs, objectives, or circumstances of the municipal entity or obligated person, this may not rise to the level of municipal advisory activity. However, some Unsolicited Proposals have included subjective qualitative and quantitative criteria specially tailored to the municipal entity or obligated person that includes descriptions of proposed business arrangements (i.e., ground lease, management agreements); market studies that support revenue assumptions and financial, economic and social benefits; advice with respect to sizing and structuring of the financing package, which may include consideration or use of municipal securities or municipal financial products; and models allocating risk transfer between the public and private entity. P3 Consultants should be aware that, depending on the facts and circumstances, such submissions could constitute municipal advisory activity.

    Regardless of whether a P3 Consultant has been retained through an RFP/Q process or through a USP process, our overarching observation has been that municipal entities and obligated persons seem to rely heavily on the content of the proposals – and the implied expertise – of the P3 Consultant.

    The Role of the P3 Consultant

    What services do P3 Consultants provide? Well, services run the whole gamut.

    We have observed instances where the P3 Consultant analyzes and makes recommendations on the most cost effective and appropriate financing package for the delivery of the project, including:

    • Considering various financing alternatives to raise the necessary capital, which may include, without limitation: federal, state, or local funding, including the use of municipal financial products or the issuance of municipal securities; equity and lender commitments; and/or special facility financing; and
    • Assisting with the sizing and structuring of the financing package, which may include consideration or use of municipal securities or municipal financial products and participating in the preparation of disclosure documents.

    P3 Consultants should be aware that considering various financing alternatives and assisting with the sizing and structuring could constitute municipal advisory activity.

    We have seen P3 Consultants be asked to independently, or in collaboration with the staff of the municipal entity or obligated person and other advisors, draft RFP/Qs for the solicitation of financial and/or technical private sector project delivery partners (“Private Sector Partners”). Assisting a municipal entity or obligated person with drafting – or simply drafting – an RFP/Q is municipal advisory activity requiring registration with the Commission, absent an available exclusion or exemption, because the P3 Consultant (or any other entity) could be providing advice with respect to the parameters of such RFP/Q which includes the issuance of municipal securities or the use of municipal financial products.[47]

    Takeaways

    The SEC’s mission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. The Office of Municipal Securities remains dedicated to providing information to the municipal securities market to help persons and entities active in the market comply with the important safeguards that were put in place after the last financial crisis by Congress. The Exchange Act makes it unlawful for any municipal advisor to provide advice to or on behalf of, or to undertake a solicitation of, a municipal entity or obligated person without registering with the Commission.[48]

    As you continue your partnerships to help meet the nation’s infrastructure needs, I would like you to remember that addressing the risks that unregistered municipal advisory activity pose to municipal entities and obligated persons is a challenge that requires a whole municipal securities market approach.

    P3 Consultants and Private Sector Partners who advise municipal entities or obligated persons on the issuance of municipal securities, the use of municipal financial products, and/or the use of debt financing alternatives that are tailored to the specific needs, objectives, or circumstances of the municipal entity during any stage of the P3 lifecycle should remember that they may be engaging in municipal advisory activity requiring registration as a municipal advisor with the Commission and the MSRB. The relevant timeline for advice to obligated persons is slightly different but still includes advice prior to the issuance of municipal securities until they are no longer outstanding.[49]

    For other market participants, engaging persons acting as unregistered municipal advisors may have far-reaching consequences for themselves and others,[50] including eroding public trust, significant financial losses and inefficiencies, and undermining the legitimacy of the P3 process.

    More information about the Commission’s regulation of municipal advisors is available at the Office of Municipal Securities website.[51] The MSRB also provides educational material on various topics related to municipal advisors at its Education Center website that may be helpful to municipal entities, obligated persons, P3 Consultants, and Private Sector Partners and any other market participant seeking additional information.[52]

    Thank you again to The Bond Buyer for the invitation to address you today. I look forward to working with all of you toward our shared goal of regulatory compliance in furtherance of protecting the integrity of the municipal securities market.


    [3]           See Exchange Act Section 15B(e)(8) [15 U.S.C. 78o-4(e)(8)] defining “municipal entity.”

    [4]           See Exchange Act Section 15B(e)(10) [15 U.S.C. 78o-4(e)(10)] defining “obligated person.”

    [5]           See Municipal Advisor Adopting Release 78 FR at 67472.

    [6]           Id. at 67475.

    [7]           Id. at 67475 n.102 (citing S. Rep. No. 111-176, at 38 (2010)).

    [8]           Id. at 67475 n. 104 and accompanying text.

    [9]           Id. at 67475 nn. 105-106 and accompanying text.  

    [10]         Id. at 67626.

    [11]         See Section 975(a)(1)(B) of the Dodd-Frank Act [15 U.S.C. 78o-4(a)(1)(B)].

    [12]         See Exchange Act Section 15B(e)(4)(A) [15 U.S.C. 78o-4(e)(4)(A)]. The definition of municipal advisor includes financial advisors, guaranteed investment contract brokers, third-party marketers, placement agents, solicitors, finders, and swap advisors that provide municipal advisory services, unless they are statutorily excluded. See 15 U.S.C. 78o-4(e)(4)(B). The statutory definition of municipal advisor excludes a broker, dealer, or municipal securities dealer serving as an underwriter (as defined in section 77b(a)(11) of this title), any investment adviser registered under the Investment Advisers Act of 1940 [15 U.S.C. 80b-1 et seq.], or persons associated with such investment advisers who are providing investment advice, any commodity trading advisor registered under the Commodity Exchange Act or persons associated with a commodity trading advisor who are providing advice related to swaps, attorneys offering legal advice or providing services that are of a traditional legal nature, or engineers providing engineering advice. See 15 U.S.C. 78o-4(e)(4)(C). The Commission exempts the following persons from the definition of municipal advisor to the extent they are engaging in the specified activities: accountants; public officials and employees; banks; responses to requests for proposals or qualifications; swap dealers; participation by an independent registered municipal advisor; persons that provide advice on certain investment strategies; certain solicitations. See Exchange Act Rule 15Ba1-1(d)(3)(i) through (viii) [17 CFR 240.15Ba1-1(d)(3)(i) through (viii)].

    [13]         Municipal Advisor Adopting Release, 78 FR at 67479.

    [14]         Id.

    [15]         Id. at 67480. See also Exchange Act Rule 15Ba1-1(d)(1)(ii) [17 CFR 240.15Ba1-1(d)(1)(ii)] (advice excludes, among other things, the provision of general information that does not involve a recommendation regarding municipal financial products or the issuance of municipal securities (including with respect to the structure, timing, terms and other similar matters concerning such financial products or issues)).

    [16]         See Exchange Act Rule 15Ba1-1(d)(1)(ii) [17 CFR 240.15Ba1-1(d)(1)(ii)]. See also Municipal Advisor Adopting Release, 78 FR at 67479-67480 (Commission providing clarifying guidance regarding “advice” only with respect to municipal advisors and solely for purposes of the municipal advisor definition).

    [17]         See Municipal Advisor Adopting Release, 78 FR at 67480. See generally Answer to Question 1.1 The General Information Exclusion from Advice versus Recommendation from the Registration of Municipal Advisors Frequently Asked Questions (“MA FAQ”), available at https://www.sec.gov/info/municipal/mun-advisors-faqs.

    [18]         See 15 U.S.C. 78o–4(c)(1).

    [19]         See, e.g., Arthurs Lestrange & Co., Inc., Exchange Act Release No. 42148, 1999 WL 1038053 at * 4 (Nov. 17, 1999) (financial advisor also a fiduciary under Pennsylvania state law).

    [20]         See MSRB Rules G-17 (fair dealing) and G-42(a)(i) (duty of care).

    [21]         See Exchange Act Rule 15Ba1-1(e) [17 CFR 240.15Ba1-1(e)].

    [22]         See Municipal Advisor Adopting Release, 78 FR at 67472.

    [23]         Municipal Advisor Adopting Release, 78 FR at 67480 and accompanying note 165 (citing FINRA Notice to Members 01-23 (Mar. 19, 2001), and Notice of Filing of Proposed Rule Change to Adopt FINRA Rules 2090 (Know Your Customer) and 2111 (Suitability) in the Consolidated FINRA Rulebook, Exchange Act Release No. 62718A (Aug. 20, 2010), 75 FR 52562 (Aug. 26, 2010); FINRA Regulatory Notice 11-02 (Know Your Customer and Suitability), Jan. 11, 2011, available at https://www.finra.org/sites/default/files/NoticeDocument/p122778.pdf).

    [24]         See 15 U.S.C. 78o-4(a)(1)(B).

    [26]         While the federal government contributes with funding, states and local governments carry most of the burden for maintaining and building infrastructure. See generally U.S. Dep’t of the Treasury, Infrastructure Investment in the United States (Nov. 15, 2023), available at https://home.treasury.gov/news/featured-stories/infrastructure-investment-in-the-united-states; American Society of Civil Engineers, Failure to Act, Economic Impacts of Status Quo Investment Across Infrastructure Investment Across Infrastructure Systems (2021), available at https://infrastructurereportcard.org/wp-content/uploads/2021/03/FTA_Econ_Impacts_Status_Quo.pdf and Bridging the Gap, Economic Impacts of National Infrastructure Investment, 2024-2043 (2024), available at https://bridgingthegap.infrastructurereportcard.org/wp-content/uploads/2024/05/2024-Bridging-the-Gap-Economic-Study.pdf.

    [27]         The Infrastructure Investment and Jobs Act (“IIJA”) and the Inflation Reduction Act (“IRA”) make funding available for an array of projects. See Infrastructure Investment and Jobs Act, Pub. L. 117-58 (2021) and the Inflation Reduction Act of 2022, Pub. L. 117-169 (2022).

    [28]         In terms of private sector involvement in infrastructure development, the IIJA, for instance, provides planning grants for jurisdictions seeking to utilize P3 project procurement, requires projects with an estimated total cost of $750 million or more seeking either Transportation Infrastructure Finance and Innovation Act (“TIFIA”) or Railroad Rehabilitation and Improvement Financing (“RRIF”) funding to conduct a value-for-money (“VfM”) analysis, and increased the federal cap on tax-exempt private activity bonds (“PABs”) for highway or surface freight transfer facilities. See e.g., IIJA §§ 71001; 70701; 80403 [23 U.S.C. 611; 23 U.S.C. 601; 26 U.S.C. 142(m)(2)(A)].

    [29]         See John Forrer, James Edwin Kee, Kathryn E. Newcomer and Eric Boyer, Public Administration Review, Public-Private Partnerships and the Public Accountability Question (May/June 2010), 475-484, available at https://www.jstor.org/stable/pdf/40606405.pdf.

    [31]         See, e.g., N.J. Senate Bill No. 3565 (introduced Feb. 9, 2023) (proposed establishment of the Energy Infrastructure Public-Private Partnership Program); Colo. Senate Bill No. 23-035 (June 2, 2023) (CO housing authority has power to contract with private entities to facilitate P3s for affordable housing projects); Md. Prince George’s County Public Schools, First-of-Its-Kind Public-Private Partnership Delivers New Schools for 8K+ Students (Sept. 18, 2023), available at https://www.pgcps.org/offices/communications-and-community-engagement/newsroom/news/newsroom-archives/2023-2024/news-release-first-of-its-kind-public-private-partnership-delivers-new-schools-for-8k-students; Brenton Foundation and Coalition for Local Internet Choice, The Emerging World of Broadband Public-Private Partnerships: A Business Strategy and Legal Guide (May 2017), available at https://www.benton.org/sites/default/files/partnerships_0.pdf; National Science and Technology Council, National Artificial Intelligence Research and Development Strategic Plan May 2023, available at https://www.whitehouse.gov/wp-content/uploads/2023/05/National-Artificial-Intelligence-Research-and-Development-Strategic-Plan-2023-Update.pdf.

    [32]         In 1999, the U.S. General Accounting Office issued a glossary of the most commonly used terms in P3s to facilitate a better understanding of the terms as they are used. See U.S. General Accounting Office, Public-Private Partnerships, Terms Related to Building and Facility Partnerships (Apr. 1999), available at https://www.gao.gov/assets/ggd-99-71.pdf.

    [35]         See, e.g., Dominique Custos & John Reitz, Public-Private Partnerships, 58 Am. J. Comp. L. 555 (2010); NCSL Report; DOT Primer.

    [36]         See generally DOT Primer; DOT Guidebook on Financing.

    [37]         See, e.g., Denver International Airport, Great Hall After-Action Report (Aug. 9, 2022), https://www.flydenver.com/app/uploads/2024/06/greathall_AfterActionReport-2.pdf; Office of the Inspector General, City of Chicago, Report of Inspector General’s Findings and Recommendations: An Analysis of the Lease of the City’s Parking Meters (June 2, 2009), https://igchicago.org/wp-content/uploads/2011/03/Parking-Meter-Report.pdf; State of Texas, State Auditor’s Office, Audit Report on The Department of Transportation and the Trans-Texas Corridor, Report No. 07-015 (Feb. 2007), available at https://sao.texas.gov/reports/main/07-015.pdf.

    [38]         See generally supra note 37. See also Denver International Airport (Great Hall Project), City and County of Denver Auditor, Audit Report Denver International Airport Great Hall Construction (Apr. 20, 2023), available at https://www.flydenver.com/app/uploads/2023/09/greathallconstruction_Auditapril2023-1.pdf; Kevin DeGood, American Progress, When Public-Private Partnerships Fail: A Look at Southern Indiana’s I-69 Project (Feb. 15, 2018), available at https://www.americanprogress.org/article/public-private-partnerships-fail-look-southern-indianas-69-project/; Hearing, California Senate Transportation and Housing Committee, Tolls, User Fees, and Public-Private Partnerships: The Future of Transportation Finance in California? (Jan. 17, 2007), available at https://archive.senate.ca.gov/sites/archive.senate.ca.gov/files/committees/2015-16/stran.senate.ca.gov/sites/stran.senate.ca.gov/files/01-17-07Background.doc; Texas State Auditor’s Office, An Audit Report on The Department of Transportation’s Purchase of the Camino Colombia Toll Road (June 2, 2006), available at https://sao.texas.gov/reports/main/06-041.pdf. Concerns regarding P3s have been raised outside of the United States as well. See, e.g., Office of the Auditor General of Ontario, Annual Report 2014, available at https://www.auditor.on.ca/en/content/annualreports/arreports/en14/2014AR_en_web.pdf; Canadian Centre for Policy Alternatives | Nova Scotia, Many Dangers of Public-Private Partnerships (P3s) in Newfoundland and Labrador (Sept. 2020), available at https://policyalternatives.ca/sites/default/files/uploads/publications/Nova%20Scotia%20Office/2020/10/HiddendangersofP3s.pdf.

    [39]         See generally supra notes 37 and 38.

    [42]         A USP process refers to a proposal submitted by an offeror (often a P3 Consultant but can be any private entity) for a P3 project that is not in response to any RFP/Q issued by a municipal entity, obligated person, or municipal advisor on their behalf.

    [43]         See Municipal Advisor Adopting Release, 78 FR at 67509.

    [44]         See Exchange Act Rule 15Ba1–1(d)(3)(iv) [17 CFR 240.15Ba1-1(d)(3)(iv)]. See also Municipal Advisor Adopting Release for a discussion on the RFP exemption. Municipal Advisor Adopting Release, 78 FR at 67508-67509.

    [45]         See generally Answer to Question 2.1 of the MA FAQ.

    [46]         Id.

    [47]         See Municipal Advisor Adopting Release, 78 FR at 67509.

    [48]         See Exchange Act Section 15B(a)(1)(B) [15 U.S.C. 78o-4(a)(1)(B)].

    MIL OSI USA News

  • MIL-OSI Security: Man Sentenced for Multimillion-Dollar Scheme to Defraud Factoring Companies

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    ATLANTA – Micky Lee Wagner, also known as “Clifton Leigh Wagner Martin,” “Mickey Lee Wagner,” “Leigh Wagner,” “Michy Wagner,” “Lee Wagner,” and “Dr. Leigh,” has been sentenced to federal prison for operating a scheme to defraud factoring companies of more than $5 million while using stolen identities.

    “Wagner has an extensive history of devising schemes to take advantage of unsuspecting businesses and individuals,” said U.S. Attorney Ryan K. Buchanan. “Thanks to the diligence of our federal law enforcement partners at FBI, a measure of justice has been achieved that will also prevent Wagner from victimizing others.”

    “Wagner took great measures to create the fraudulent billing scheme to use these companies like his personal ATM,” said FBI Atlanta Special Agent in Charge Keri Farley. “His actions not only harmed businesses, but also the victims of his identity theft. Wagner will now have several years behind bars to consider the impact of his actions.”        

    According to U.S. Attorney Buchanan, the charges and other information presented in court: Wagner was the owner and CEO of Right Step Staffing, Inc., in Atlanta, Georgia. Right Step Staffing was purportedly a personnel staffing company that provided temporary employees to other businesses. Wagner used stolen identities to create a false impression that he had workers; then he falsely claimed that his staffing company provided temporary workers to major businesses, including Kroger Distribution, Material in Motion, Duracell, and Clorox. But Right Step Staffing had no relationship with those businesses.

    Based on Wagner’s misrepresentations, a factoring company in Fort Lauderdale, Florida entered into a contract with Right Step Staffing to purchase its accounts receivable to collect money on outstanding invoices that businesses supposedly owed to Right Step Staffing for temporary workers. Factoring companies advance funds through these kinds of arrangements so that staffing companies can meet their payroll obligations in a timely fashion.

    To further the fraud, Wagner deceived the factoring company by providing them with fraudulent customer contracts, when in fact, Right Step Staffing had no agreements with the businesses. Wagner also provided the factoring company with email addresses that supposedly belonged to representatives of the businesses, as a means to confirm that Right Step Staffing supplied employees to their businesses. The email addresses appeared similar to the real businesses’ email addresses but were deceptively created by Wagner to defraud the factoring company. 

    After entering into the agreement, Right Step Staffing sent fraudulent invoices to the factoring company claiming that it had provided temporary workers to the businesses. These invoices totaled over $6 million during a several-month period, resulting in actual payments of more than $5 million to Wagner.

    Wagner spent the fraudulent proceeds from the scheme to purchase real estate, a café, multiple luxury vehicles, plastic surgery, and a Royal Caribbean cruise, and he also diverted a substantial amount of cash for his personal use.

    After his indictment in July 2022, Wagner fled to Kansas City, Missouri, where he evaded arrest for nearly a year. In July 2023, FBI agents arrested Wagner as he was leaving a residence in Kansas City. Also after his indictment in July 2022, Wagner defrauded another factoring company based in Minnesota. He stole more than $750,000 from that business. Wagner unsuccessfully attempted to defraud other factoring companies around the same time. Wagner has multiple prior felony convictions, including a prior federal fraud conviction from 2001. He fled Kansas City while on supervised release for that conviction.

    Micky Lee Wagner, 57, of Atlanta, Georgia, and Kansas City, Missouri, was sentenced by U.S. District Judge J. P. Boulee to seven years, 10 months in prison to be followed by three years of supervised release. He was also ordered to pay restitution in the amount of $3,092,512.88. Wagner was convicted of wire fraud and aggravated identity theft on April 24, 2024, after he pleaded guilty.

    This case was investigated by the Federal Bureau of Investigation.

    Assistant U.S. Attorneys Stephen H. McClain and Sekret T. Sneed prosecuted the case.

    For further information please contact the U.S. Attorney’s Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6016.  The Internet address for the U.S. Attorney’s Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga.

    MIL Security OSI

  • MIL-OSI: KCEX Expands Global Crypto Trading Platform with New Reward Center and Daily Futures Trading Competitions

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Sept. 27, 2024 (GLOBE NEWSWIRE) — KCEX, a leading cryptocurrency exchange, has made significant strides in the digital asset trading space by unveiling a suite of new features, including its Reward Center and a Futures Trading Competition. With a commitment to enhancing user engagement and providing a robust platform for traders, KCEX aims to establish itself as a prominent player in the global crypto trading market.

    Enhanced Trading Experience with KCEX: KCEX has quickly risen as a reliable platform for both novice and experienced crypto traders. The platform provides a secure and user-friendly environment, with over 500 cryptocurrencies available for trading, alongside futures and spot trading options. Notably, the exchange integrates advanced charting tools, competitive trading fees, and robust security features, making it a comprehensive destination for traders worldwide.

    KCEX’s transparent fee structure is a standout feature, offering some of the lowest transaction fees in the market. Traders benefit from a 0% fee on spot trades and a dynamic fee structure of 0% maker, 0.02% taker for futures trading, ensuring affordability across diverse trading strategies. Additionally, KCEX offers exceptional liquidity, which is critical for executing trades swiftly and efficiently, minimizing slippage even in volatile markets.

    Futures Trading Competition: One of the most exciting developments from KCEX is the launch of its Daily Futures PNL Trading Competition, aimed at encouraging active trading and rewarding top-performing users. The competition is structured to reward participants based on their daily profit from futures trading activities, offering an opportunity for both professional traders and enthusiasts to showcase their skills.

    The competition has garnered attention for its attractive daily prize pool of $20K, with rewards distributed to top traders based on their performance in futures trading. This event fosters a competitive yet supportive environment, where traders can engage with the platform, test their strategies, and potentially walk away with significant rewards.

    Reward Center – Incentives for Traders: To further incentivize its user base, KCEX has introduced the Reward Center, a centralized hub where traders can access exclusive bonuses and rewards. The Reward Center is designed to offer a variety of incentives for simple tasks, tailored to boost user engagement and satisfaction.

    Security and Compliance: KCEX has placed a strong emphasis on security and regulatory compliance, which are critical factors for users in today’s volatile cryptocurrency market. The platform utilizes advanced security protocols such as two-factor authentication (2FA), multi-signature wallets, and cold storage solutions to safeguard user assets. Moreover, KCEX adheres to strict anti-money laundering (AML) and know your customer (KYC) regulations, ensuring a safe and compliant trading environment for its global user base.

    Global Reach and Community Engagement: With a growing user base across Asia, Europe, and North America, KCEX has positioned itself as a global platform. Its multilingual support and localized services cater to a diverse range of users, enhancing accessibility. Additionally, KCEX engages actively with its community through social media, offering regular updates, educational content, and market insights, which help traders make informed decisions.

    The exchange’s customer support services have also been highly rated for their responsiveness and efficiency, ensuring that users receive timely assistance with any technical or trading-related issues.

    Future Plans and Roadmap: Looking ahead, KCEX aims to continue expanding its product offerings and global footprint. The platform is exploring the integration of new blockchain technologies and DeFi (Decentralized Finance) features to enhance the trading experience further.

    Conclusion: KCEX’s new features, including the Daily Futures PNL Trading Competition and Reward Center, underscore the platform’s commitment to providing a comprehensive and rewarding trading experience for users. As the cryptocurrency market continues to evolve, KCEX is well-positioned to remain a key player, offering innovative solutions, robust security, and a user-centric approach to trading.

    For more information:

    Web: www.kcex.com
    Contact Name: Carl Yang
    Official Email ID: carl@kcex.com

    Disclaimer: This content is provided by “KCEX”. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/bcb219e0-1833-446f-8a41-5682e9db99ed

    https://www.globenewswire.com/NewsRoom/AttachmentNg/4f34302e-2cf9-485e-935a-58a93b980416

    The MIL Network

  • MIL-OSI: Bitget Partners with Cats (CATS) for Gas-free Airdrop Claim and Launchpool Listing

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Sept. 27, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced a partnership with Cats (CATS), a trending meme coin from the TON ecosystem. Bitget users will now be able to claim the CATS token airdrop on Telegram with zero gas fees. These tokens will be automatically credited to users’ Bitget accounts before CATS spot trading begins in early October. Additionally, CATS will be featured on Bitget Launchpool, a free-to-farm platform, starting October 30, 2024, with a total distribution of 19.5 billion CATS tokens.

    These initiatives aim to enhance user engagement with the Cats platform while providing substantial rewards for early adopters and supporters.

    Earlier in September, Bitget listed CATS in its Pre-market, serving as a vital resource for traders and investors eager to engage with promising tokens ahead of their broader market release. By facilitating early trading opportunities for tokens like CATS, Bitget enhances trading options for its users, offering a unique chance to capitalize on market trends before they enter the mainstream. As of September 27, CATS is trading at 0.00043 USDT in the Bitget Pre-market, with total volume surpassing 1.5 million USDT.

    CATS is a meme coin that embodies the playful spirit and culture of the Telegram community. Similar to its counterpart, Dogs ($DOGS), loyal Telegram users can claim CATS airdrops based on factors such as account age, premium status, and activity levels. To date, the project has attracted over 40 million holders through its viral Telegram mini-app, establishing itself as one of the most popular meme coins on the TON blockchain.

    The listing of CATS on Bitget Launchpool marks a significant milestone in expanding its reach and influence within the blockchain gaming industry. This listing underscores CATS’s potential as a trending TON-based project and reaffirms Bitget’s commitment to supporting innovative TON-based initiatives that drive the future of decentralized ecosystems.

    As the staking period commences, users are encouraged to participate actively and seize the rewards offered through this unique opportunity. With CATS’s growing popularity and its innovative approach to gaming, the listing on Bitget Launchpool is expected to attract considerable attention from both gaming and blockchain communities.

    For more information on CATS, visit the community or check out the Launchpool.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading, AI bot and other trading solutions. Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including being the Official Crypto Partner of the World’s Top Professional Football League, LALIGA, in EASTERN, SEA and LATAM, as well as a global partner of Olympic Athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice. For more information, see our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/68ef6b6b-69ef-41cc-b86f-4b31ee2882e4

    The MIL Network

  • MIL-OSI: Bitget lists Hamster Kombat (HMSTR) on Spot with 12,500,000 Tokens in Rewards and 25% in Rebates

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Sept. 27, 2024 (GLOBE NEWSWIRE) —

    Bitget, the world’s leading cryptocurrency exchange and Web3 company, has announced the listing of Hamster Kombat (HMSTR) on its spot trading platform, offering users an opportunity to benefit from a substantial rewards pool and rebates. This campaign, spanning from September 26, 10:00 PM to October 3, 10:00 PM (UTC+8), aims to engage users with a total prize pool of 12,500,000 HMSTR tokens and up to 25% in rebates for eligible participants.

    During this promotion, users can enjoy zero fees when purchasing crypto using a credit or debit card or through cash conversion after topping up their fiat balance via bank deposit. This initiative aims to make crypto trading more accessible and appealing, especially for those new to the Bitget platform. By simplifying the process and minimizing costs, Bitget is enhancing the user experience, allowing more traders to explore and engage with the HMSTR token.

    Participants need to register for the promotion through the designated ‘Register Now‘ button to qualify. As the campaign progresses, users who buy crypto during the promotion period can potentially earn up to a 25% rebate in HMSTR tokens. The rebate amount is based on the participant’s trading volume relative to the total trading volume of all users involved in the campaign. This creates an environment that not only rewards active traders but also encourages higher engagement with the HMSTR listing.

    The total prize pool of 12,500,000 HMSTR tokens will be distributed on a first-come, first-served basis, emphasizing the importance of prompt participation. The distribution of rewards will take place within five business days following the conclusion of the campaign, ensuring transparency and efficiency in the reward allocation process. However, it’s crucial to note that this campaign is exclusively available for newly registered Bitget users. Sub-accounts, institutional users, API traders, and market maker accounts are not eligible for this promotion, maintaining fairness in the campaign’s structure.

    The listing of Hamster Kombat (HMSTR) on Bitget’s spot trading platform shows the exchange’s commitment to expanding its portfolio and providing users with opportunities to engage in diverse crypto projects. As HMSTR garners more attention within the crypto community, this campaign serves as a strategic step in introducing new assets and fostering active trading.

    By offering zero fees and substantial rebates, Bitget provides its users and traders with added incentives. The HMSTR listing and its accompanying promotional campaign present a significant opportunity for traders to explore the token’s potential while benefiting from Bitget’s user-centric approach to crypto trading.

    To participate in the campaign for HMSTR, please visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

    For more information, users can visit: WebsiteTwitterTelegramLinkedInDiscordBitget Wallet

    Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice. For more information, see our Terms of Use.

    Contact

    PR

    Simran

    Bitget

    media@bitget.com

    The MIL Network

  • MIL-OSI Canada: $6.7 Million to Support Policing in Regina

    Source: Government of Canada regional news

    Released on September 27, 2024

    The Ministry of Corrections, Policing and Public Safety will provide $5.8 million to the City of Regina in 2024-25 through the Municipal Police Grants program to continue to support 44 current municipal police positions in the city. 

    “As social disorder concerns continue to impact our communities, it is important that we provide stable funding to the Regina Police Service, so they can start planning for the upcoming fiscal year,” Corrections, Policing and Public Safety Minister Paul Merriman said. “We are proud to support our municipal police services as we work to create safer communities in Saskatchewan.”

    This funding will continue to support the Regina Police Service’s Crime Reduction Team (CRT), Serious and Habitual Offender Comprehensive Action Plan, Internet Child Exploitation (ICE) program, Missing Persons Task Force, and Police and Crisis Teams (PACT), among other targeted policing initiatives. Through PACT, officers work with mental health workers to respond to calls where individuals may be experiencing a mental health crisis, while the CRT focuses on investigating gang-related activities in the community.

    The Serious and Habitual Offender Comprehensive Action Plan allows officers to work with probation officers and prosecutors to address criminal behaviours of habitual offenders between the ages of 15 and 25. The Missing Persons Task Force coordinates cases involving missing persons, and ICE investigates online child exploitation cases.

    A total of $900,000 will also be provided by Saskatchewan Government Insurance to support five police offices through the Combined Traffic Services Saskatchewan program. This brings the total amount for the Regina Police Service Funding Agreement in 2024-45 to $6.7 million to support 49 police positions in the Queen City.

    “The Municipal Police Grant program is an invaluable resource for the Regina Police Service and provincial agencies alike who work to enhance community safety,” Regina Police Service Deputy Chief Trent Stevely said. “This grant not only provides additional funding for the Regina Police Service, but an opportunity to put more officers on the street and in specialized investigative units. With this program, we have seen a province-wide impact on areas such as gang and organized crime activity, internet child exploitation, as well as providing an increased focus on local substance abuse issues.”

    This funding is in addition to the $3.8 million that was recently announced for the City of Regina to hire 32 new officers for the Regina Police Service.

    The Ministry of Corrections, Policing and Public Safety has provided financial support to Saskatchewan police services through the Municipal Police Grants program since 1998. Today, the grant program supports 143 municipal police positions and targeted policing initiatives in communities across the province.

    -30-

    For more information, contact:

    MIL OSI Canada News

  • MIL-OSI Canada: City of Prince Albert to Receive $3.6 Million for Targeted Policing Initiatives

    Source: Government of Canada regional news

    Released on September 27, 2024

    Today, the Ministry of Corrections, Policing and Public Safety announced $3.1 million for the City of Prince Albert through its 2024-25 Municipal Police Grants program. A total of 23 current police service positions will be supported through this funding initiative.

    “Supporting municipal police services, such as the Prince Albert Police Service, is crucial to ensuring the safety and security of our communities,” Corrections, Policing and Public Safety Minister Paul Merriman said. “Today’s funding continues our government’s long-standing tradition of supporting policing in Saskatchewan, and we are proud to continue supporting the Municipal Police Grants program in 2024-25.” 

    The funding supports the continued delivery of targeted policing initiatives in Prince Albert, such as the Police and Crisis Team (PACT), which teams police officers with mental health workers to provide an integrated and coordinated response to individuals experiencing a mental health or addictions crisis in the community.

    The grant program also supports the continuation of the Crime Reduction Team (CRT) that gathers intelligence on street gangs and gang associates in the city; the Missing Persons Task Force that focuses on missing persons cases; the Saskatchewan Trafficking Response Team (STRT) that investigates illegal weapons, drugs and human trafficking; and the Internet Child Exploitation (ICE) program that addresses online child exploitation.

    Saskatchewan Government Insurance will also provide $540,000 for three positions through the Combined Traffic Services Saskatchewan (CTSS) initiative. This brings the total amount of the Prince Albert Police Service Funding Agreement in 2024-25 to $3.6 million to support 26 police positions in the community.

    “The Prince Albert Police Service is grateful for the continued financial investment from the Ministry of Corrections, Policing, and Public Safety,” Prince Albert Police Chief Patrick Nogier said. “This support is vital in ensuring our ongoing efforts to enhance public safety and maintain peace within our community. We recognize the importance of a partnership between the province and the City of Prince Albert in addressing the unique challenges faced by our city.

    Prince Albert continues to serve a population far greater than its official records indicate, with a diverse and growing community. This includes not only our residents, but also those from surrounding areas who rely on the city for services. The shared responsibility between provincial and municipal authorities ensures that we are equipped to meet the demands placed on our police service and provide an effective and responsive approach to safety and security. The Prince Albert Police Service remains steadfast in its commitment, working closely with our provincial partners to address emerging challenges and uphold our mission of partnering and engaging to build a safe and compassionate community.”

    Today’s announcement is an additional funding boost for the City of Prince Albert, following the government’s recent announcement of $2.0 million to hire 17 new officers for the Prince Albert Police Service through its safer communities and neighbourhoods initiative.

    For the past 26 years, the Ministry of Corrections, Policing and Public Safety has supported Saskatchewan police services through the Municipal Police Grants program. It currently supports 143 municipal police positions and targeted policing initiatives in the province.

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    For more information, contact:

    MIL OSI Canada News