Category: Law

MIL-OSI USA: Testimony on the Congressional Budget Office’s Request for Appropriations for Fiscal Year 2026
Source: US Congressional Budget Office

Chairman Valadao, Ranking Member Espaillat, and Members of the Subcommittee, thank you for the opportunity to present the Congressional Budget Office’s budget request. CBO requests appropriations of $75.8 million for fiscal year 2026. Most of that amount—86.6 percent—would be for pay and benefits; 9.8 percent would be for information technology (IT); and 3.6 percent would be for training, expert consultant services, office supplies, and other items. The requested amount is an increase of $5.8 million, or 8.2 percent, above the funding provided for this year.

Of the increase, 52 percent would primarily cover increases in current employees’ salaries and benefits and would enable CBO to expand its staff in key areas of Congressional interest. The remaining 48 percent would address increased costs to enhance the agency’s cybersecurity and IT infrastructure; such improvements are critical to protecting sensitive data and improving the agency’s computing power for analyzing complex data sets. CBO is prioritizing advancements in a security strategy called zero trust architecture, which requires verification before allowing access to any user or device.

The requested budget is based on continued strong interest in CBO’s work from the Congressional leadership, committees, and Members. In 2024, CBO published about 1,100 cost estimates for legislation and devoted significant resources to analyzing the Servicemember Quality of Life Improvement and National Defense Authorization Act for Fiscal Year 2025 (Public Law 118-159); the Consolidated Appropriations Act, 2024 (P.L. 118-42); the Further Consolidated Appropriations Act, 2024 (P.L. 118-47); and H.R. 8467, the Farm, Food, and National Security Act of 2024. For those bills and many others, the agency also fulfilled thousands of requests for technical assistance. In addition, CBO prepared dozens of reports, many at the request of Chairs or Ranking Members of Congressional committees.

CBO will provide many estimates and a large amount of technical assistance to the 119th Congress as lawmakers consider significant legislative initiatives. With additional resources, the agency could provide even more. Under the funding provided for this year, CBO will maintain its staffing at about 270 employees and focus on the highest priority current needs, including preparing cost estimates, providing technical assistance as the Congress crafts legislation, and analyzing the economic and dynamic budgetary effects of proposed policies. CBO will reduce expenditures elsewhere, by deferring hiring for some positions and deferring some activities, including not undertaking some longer-term improvements in its IT infrastructure.

The fiscal year 2026 request would allow CBO to grow to 285 employees. That number would allow the agency to better meet its responsibilities under the Congressional Budget Act. The request also would allow for IT enhancements, including some currently on hold.

Of the 15 additional staff members CBO would hire in 2026:
- 9 would improve CBO’s capabilities to provide timely analysis of changes to health care programs, border security, credit programs (like student loans), and the U.S. population (particularly because of changes in immigration) and of dynamic policy effects (that is, determining how changes in fiscal policies would affect the economy and how those economic changes would, in turn, affect the federal budget);
- 2 would enhance CBO’s responsiveness in producing cost estimates and providing technical assistance in the legislative process;
- 1 would be an addition to the agency’s editing staff to enhance the readability and accessibility of CBO’s materials;
- 1 would provide increased legal assistance;
- 1 would enhance CBO’s IT security; and
- 1 would boost outreach to Congressional staff and the press.
CBO plans to use expert consultants more than it has in the past—enabling the agency to shift to the Congress’s key areas of focus more easily and to be more nimble in conducting facility management, work in IT, and financial management.

MIL OSI USA News –
April 10, 2025
MIL-OSI Global: What would happen if Section 230 went away? A legal expert explains the consequences of repealing ‘the law that built the internet’

Source: The Conversation – USA – By Daryl Lim, Professor of Law and Associate Dean for Research and Innovation, Penn State

Sens. Lindsey Graham, R-S.C., and Dick Durbin, D-Ill., are vocal critics of Section 230. AP Photo/J. Scott Applewhite

Section 230 of the Communications Decency Act, passed in 1996 as part of the Telecommunications Act, has become a political lightning rod in recent years. The law shields online platforms from liability for user-generated content while allowing moderation in good faith.

Lawmakers including Sens. Lindsey Graham, R-S.C., and Dick Durbin, D-Ill., now seek to sunset Section 230 by 2027 in order to spur a renegotiation of its provisions. The senators are expected to hold a press event before April 11 about a bill to start a timer on reforming or replacing Section 230, according to reports. If no agreement is reached by the deadline Section 230 would cease to be law.

The debate over the law centers on balancing accountability for harmful content with the risks of censorship and stifled innovation. As a legal scholar, I see dramatic potential effects if Section 230 were to be repealed, with some platforms and websites blocking any potentially controversial content. Imagine Reddit with no critical comments or TikTok stripped of political satire.

The law that built the internet

Section 230, often described as “the 26 words that created the internet,” arose in response to a 1995 ruling penalizing platforms for moderating content. The key provision of the law, (c)(1), states that “no provider or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another information content provider.” This immunizes platforms such as Facebook and Yelp from liability for content posted by users.

Importantly, Section 230 does not offer blanket immunity. It does not shield platforms from liability related to federal criminal law, intellectual property infringement, sex trafficking or where platforms codevelop unlawful content. At the same time, Section 230 allows platform companies to moderate content as they see fit, letting them block harmful or offensive content that is permitted by the First Amendment.

Some critics argue that the algorithms social media platforms use to feed content to users are a form of content creation and should be outside the scope of Section 230 immunity. In addition, Federal Communications Commission Chairman Brendan Carr has signaled a more aggressive stance toward Big Tech, advocating for a rollback of Section 230’s protections to address what he perceives as biased content moderation and censorship.

What Section 230 does and how it came about.

Censorship and the moderation dilemma

Opponents warn that repealing Section 230 could lead to increased censorship, a flood of litigation and a chilling effect on innovation and free expression.

Section 230 grants complete immunity to platforms for third-party activities regardless of whether the challenged speech is unlawful, according to a February 2024 report from the Congressional Research Service. In contrast, immunity via the First Amendment requires an inquiry into whether the challenged speech is constitutionally protected.

Without immunity, platforms could be treated as publishers and held liable for defamatory, harmful or illegal content their users post. Platforms could adopt a more cautious approach, removing legally questionable material to avoid litigation. They could also block potentially controversial content, which could leave less space for voices of marginalized people.

MIT management professor Sinan Aral warned, “If you repeal Section 230, one of two things will happen. Either platforms will decide they don’t want to moderate anything, or platforms will moderate everything.” The overcautious approach, sometimes called “collateral censorship,” could lead platforms to remove a broader swath of speech, including lawful but controversial content, to protect against potential lawsuits. Yelp’s general counsel noted that without Section 230, platforms may feel forced to remove legitimate negative reviews, depriving users of critical information.

Corbin Barthold, a lawyer with the nonprofit advocacy organization TechFreedom, warned that some platforms might abandon content moderation to avoid liability for selective enforcement. This would result in more online spaces for misinformation and hate speech, he wrote. However, large platforms would likely not choose this route to avoid backlash from users and advertisers.

A legal minefield

Section 230(e) currently preempts most state laws that would hold platforms liable for user content. This preemption maintains a uniform legal standard at the federal level. Without it, the balance of power would shift, allowing states to regulate online platforms more aggressively.

Some states could pass laws imposing stricter content moderation standards, requiring platforms to remove certain types of content within defined time frames or mandating transparency in content moderation decisions. Conversely, some states may seek to limit moderation efforts to preserve free speech, creating conflicting obligations for platforms that operate nationally. Litigation outcomes could also become inconsistent as courts across different jurisdictions apply varying standards to determine platform liability.

The lack of uniformity would make it difficult for platforms to establish consistent content moderation practices, further complicating compliance efforts. The chilling effect on expression and innovation would be especially pronounced for new market entrants.

While major players such as Facebook and YouTube might be able to absorb the legal pressure, smaller competitors could be forced out of the market or rendered ineffective. Small or midsize businesses with a website could be targeted by frivolous lawsuits. The high cost of compliance could deter many from entering the market.

Reform without ruin

The nonprofit advocacy group Electronic Frontier Foundation warned, “The free and open internet as we know it couldn’t exist without Section 230.” The law has been instrumental in fostering the growth of the internet by enabling platforms to operate without the constant threat of lawsuits over user-generated content. Section 230 also lets platforms organize and tailor user-generated content.

The potential repeal of Section 230 would fundamentally alter this legal landscape, reshaping how platforms operate, increasing their exposure to litigation and redefining the relationship between the government and online intermediaries.

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

– ref. What would happen if Section 230 went away? A legal expert explains the consequences of repealing ‘the law that built the internet’ – https://theconversation.com/what-would-happen-if-section-230-went-away-a-legal-expert-explains-the-consequences-of-repealing-the-law-that-built-the-internet-253326

MIL OSI – Global Reports –

April 10, 2025
MIL-OSI: Fideres Announces Affiliation of Leading Financial Economist Dr. Matthew D. Cain

Source: GlobeNewswire (MIL-OSI)

NEW YORK, April 09, 2025 (GLOBE NEWSWIRE) — Fideres, a global economic consultancy renowned for supporting complex financial litigation for its law firm clients, is proud to announce the affiliation of Dr. Matthew D. Cain.

Under this agreement, Dr. Cain will serve as a testifying expert and lead Fideres’ expanding securities litigation practice in the United States.

One of the most prominent testifying experts in U.S. securities litigation, Dr. Cain has provided expert analysis in more than 60 major securities and regulatory enforcement matters, including numerous headline cases brought by the U.S. Securities and Exchange Commission.

“This is a game-changing move for Fideres and our clients in the plaintiff bar,” said Alberto Thomas, co-founder and managing partner at Fideres USA. “Matt’s partnership with us signals our deep commitment to supporting our clients’ most challenging and impactful cases.”

This partnership will enable Fideres’s clients to pursue high-stakes, complex litigation with best-in-class economic analysis and support.

“Working directly with Fideres affords me the ability to focus and lend my experience to an organization with a rich history of affecting change through securities litigation, rooted in academic rigor, innovative economic analysis, and strategic execution,” said Dr. Cain.

Dr. Cain has held senior academic appointments at the New York University School of Law and the University of California, Berkeley School of Law. He also served as a Financial Economist in the SEC’s Office of Litigation Economics and as an advisor to SEC Commissioner Robert J. Jackson, Jr. His research has been widely published in leading academic and legal journals, with a focus on securities litigation, disclosure, and corporate governance. Dr. Cain holds a Ph.D. in Finance from Purdue University and a Bachelor of Science in Finance from Grove City College.

About Fideres
Founded in 2009, Fideres is a consultancy specializing in economic analysis and expert witness services for complex litigation, particularly in the areas of antitrust, financial markets, and consumer protection. The firm has advised claimants in some of the most significant economic and antitrust cases globally and maintains offices in New York and other major jurisdictions worldwide.

For more information click here.

Media Contact:
Mark Firmani
mark@firmani.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0306a3cf-81d8-4a84-9c34-0246e55e8900

The MIL Network –

April 10, 2025
MIL-OSI Europe: OSCE Presence supports SPAK Task Force to prevent and investigate electoral crimes

Source: Organization for Security and Co-operation in Europe – OSCE

Headline: OSCE Presence supports SPAK Task Force to prevent and investigate electoral crimes

Head of SPAK Altin Dumani (left), Ambassador Tarran (across) and their staff meet on the occasion of a donation by the OSCE Presence to enhance SPAK’s newly-established Task Force’s capacities in preventing and investigating electoral crimes, Tirana, 9 April 2025. (OSCE/Joana Karapataqi) Photo details

As part of its efforts to support the Special Structure Against Corruption and Organized Crime (SPAK), on 9 April 2025, the OSCE Presence in Albania donated several sets of IT equipment to enhance SPAK’s newly-established Task Force’s capacities in preventing and investigating electoral crimes in the 11 May parliamentary elections.
The equipment – consisting of 25 laptops, 25 printers/scanners and accessories – will be used by the 13 mobile investigation units as well as the co-ordinating unit in Tirana. The mobile units will cover all 12 regions of Albania and will be composed of SPAK prosecutors, National Bureau of Investigation (NBI) investigators, financial investigators and support staff. They will focus on preventing and investigating criminal offences related to misuse of public administration and state infrastructure as well as the involvement of criminal groups in elections.
This technical assistance will be followed by capacity-building training aimed at enhancing the skills of special prosecutors, financial and NBI investigators in gathering, analysing and investigating evidence related to electoral crimes.
During the handover ceremony at SPAK premises, Head of Presence Ambassador Michel Tarran and Head of SPAK Altin Dumani emphasized the importance of strong institutional mechanisms in safeguarding electoral processes.
“Today is about more than just equipment – it is about empowering the institutions that contribute to strengthening Albania’s democracy. I would like to commend SPAK for their initiative and commitment to investigating and prosecuting electoral crimes. We hope that heightened co-ordination and action from relevant institutions will dissuade potential violators and are confident that your work will contribute to ensuring that elections are free from unlawful interference,” said Tarran.
“Elections represent a cornerstone of a democratic state. We express our gratitude to the OSCE for its continued support. This equipment will help to enhance the capacity of special prosecutors and investigators in the timely identification and effective prosecution of electoral crimes”, said Dumani.
The donation was made possible as part of OSCE Presence’s project “Support to electoral reform and processes in Albania” funded by Sweden, Switzerland, the U.S. Mission to the OSCE and Poland.
The OSCE Presence remains committed to supporting Albania’s institution in further strengthening electoral integrity.

MIL OSI Europe News –

April 10, 2025
MIL-OSI Europe: VATICAN – Subsidies and support to achieve financial autonomy: How the Dicastery for Evangelization supports local Churches

Source: Agenzia Fides – MIL OSI

Wednesday, 9 April 2025

Vatican City (Agenzia Fides) – How much funding does the Dicastery for Evangelization (Section for First Evangelization and the New Particular Churches) allocate to help the dioceses in the territories under its jurisdiction achieve financial autonomy? This question was discussed yesterday in the Aula Magna of the Pontifical Urbaniana University, which provided the setting for the IV Study Day dedicated to the chair named after Cardinal Velasio De Paolis, the Scalabrinian Cardinal, an authoritative canonist, who died in 2017.Speakers included Professor Vincenzo Buonomo, Grand Rector of the Pontifical Urbaniana University, Professor Andrea D’Auria, Dean of the Faculty of Canon Law, and Professor Yawovi Jean Attila.Archbishop Fortunatus Nwachukwu, Secretary of the Dicastery and Vice Grand Chancellor of the Pontifical Urbaniana University, presided over and moderated the day. Father Tadeusz J. Nowak, OMI, Secretary General of the Pontifical Society for the Propagation of the Faith, along with Sister Roberta Tremarelli (AMSS), who works in the administration of the Pontifical Mission Societies, illustrated what it means to accompany local Churches on their path to financial independence.In his address, Father Nowak recalled that to date, more than 3,000 particular Churches in communion with the Successor of Peter fall under the jurisdiction of the Dicastery for Evangelization. This represents more than a third of all particular Churches in the world, he emphasized. Specifically, the list includes “dioceses, both of the Latin and Eastern Rites, apostolic vicariates, apostolic prefectures, apostolic administrations, missions sui iuris, territorial prelatures, and territorial abbeys.”While “in the past, a particular Church began with a mission in an area where the Gospel had only recently been proclaimed and the Church was not yet truly established,” which was then “elevated to the rank of apostolic vicariates and later to the rank of dioceses,” today “most new Churches arise from the division of existing dioceses in areas where the Church was already present.” However, they remain “under the care of the Dicastery for Evangelization until they achieve full financial autonomy.” Once this is achieved, “they may request to be transferred from the jurisdiction of the Dicastery for Evangelization to that of the Dicastery for Bishops.”A transition that can take up to several hundred years, added Father Nowak, recalling that “the Dicastery for Evangelization accompanies the churches under its authority on their path to financial autonomy, primarily through the Pontifical Mission Societies (the Pontifical Society for the Propagation of the Faith, the Pontifical Society of St. Peter the Apostle, the Pontifical Society of Holy Childhood, and the Pontifical Missionary Union).The task of these four Societies, according to the Secretary General of the Pontifical Society for the Propagation of the Faith, is to place themselves at the service of the Pope and his “care for missionaries.” Above all, however, the Pontifical Society for the Propagation of the Faith specifically accompanies young Churches by providing financial subsidies for the creation and strengthening of their ecclesial infrastructure.Last year alone, the Pontifical Society for the Propagation of the Faith “disbursed more than $23 million in ordinary subsidies,” which bishops can use “for any purpose related to the pastoral life and evangelization of the local Church.” “Normally,” Father Nowak explained, “this grant is used for the health care of the clergy or for the office expenses of the diocesan Curia. Without such subsidies, the dioceses would suffer great difficulties that would slow down or even hinder the work of evangelization.” In this context, for example, the Society for the Propagation of the Faith also provided “almost $9 million” in subsidies “for the support of catechists in the particular Churches.” This money was used “to provide resources for the support and training of catechists.” Because, as Father Nowak emphasized, “catechists are indispensable because the number of ordained priests in many territories is insufficient to ensure adequate pastoral care for all the baptized.” In addition to ordinary subsidies, there are also extraordinary subsidies for which the Pontifical Mission Societies receive “thousands of requests every year.” In most cases, these are requests for financing the construction of chapels and churches, monasteries, schools, clinics, pastoral centers or homes for retired clergy, as well as for the purchase of transportation for missionaries, etc. For these types of projects, “the Society for the Propagation of the Faith allocated more than 16 million dollars in 2024.” “The Dicastery has provided extraordinary subsidies, responding to requests from bishops in Africa, Asia, Oceania, and the Americas,” said Father Nowak, who pointed out that the Society “also provides more than nine million dollars a year for the administration of five colleges in Rome, which serve the ongoing formation of clergy and religious of the particular Churches under the care of the Dicastery. Hundreds of priests and religious from these Churches can thus come to Rome to pursue advanced academic studies and then return to their local Church to provide valuable services to the pastoral life of the particular Church.”Not only that: “Every year, the Dicastery for the Oriental Churches receives significant financial support from the Pontifical Society for the Propagation of the Faith to accompany the Churches of the Oriental Rite on their path to financial autonomy.” The Dicastery, the Secretary General continued, “also provides the episcopal vestments for priests appointed bishops in the particular Churches administered by the Dicastery (including two episcopal cassocks, a miter, the episcopal ring, the bishop’s cross, and crosier). In this way, the new bishop is fully equipped to begin his episcopal ministry.”It must be clarified, as Sister Roberta Tremarelli also emphasized, that “the Dicastery for Evangelization does not finance projects through the Pontifical Mission Societies.” According to the statutes of the Pontifical Mission Societies, they “participate in projects initiated by the local community and for which it assumes responsibility. The bishop must present a solid financial plan for the implementation of the project and commit the community to its completion and ongoing maintenance.” In this sense, it is being examined “whether a room created for children’s catechism can also be used for other purposes,” which could also lead to “continuous funding for the structure itself over time,” Sister Roberta Tremarelli emphasized, concluding: “The subsidy is an aid; the Pontifical Mission Societies must not replace the local Church. Our aid must be based on the principle of autonomy.”In this way, the particular Churches are encouraged to manage their finances responsibly and transparently, while remaining independent of external funding: “We are rich in young Churches, but we must not remain immature Churches. The growth and independence of the local Churches is our goal,” Archbishop Nwachukwu said in his concluding remarks. (F.B.) (Agenzia Fides, 9/4/2025)
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MIL OSI Europe News –

April 10, 2025
MIL-OSI Economics: Jan Frait: Monetary policy analysis at the crossroads – insights from central banks’ reviews

Source: Bank for International Settlements

Introductory remarks for the Panel Discussion

It is a great honour for me to chair the second panel today, in which we move further towards research and academic thinking. In particular, we will focus on the analytical and modelling frameworks used by central banks to support monetary policy decision-making.

Before we do so, I’d like to start by introducing myself as a monetary policymaker with some personal statistics. I have attended more than 200 monetary policy meetings in one capacity or another. As a board member, I have voted 93 times – 31 times for a cut and only twice for a hike. That looks pretty dovish, for sure. On the other hand, for 87% of the time I’ve been voting on interest rates, the relevant monetary policy rate has been higher than headline inflation. This appears more hawkish. Well, things are really state-dependent.

No matter how long or how many times I’ve done this, I still consider myself a young apprentice, caught between Scylla and Charybdis – to borrow a lyric from one of my favourite bands, The Police. I approach decision-making with plenty of humility. In other words, even after all these years, much of what goes on in the economy remains to some extent a mystery to me. I don’t feel I understand macroeconomic dynamics much better than I did 20 years ago.

When I was a student, macroeconomics and monetary theory textbooks described monetary policy as more of an art than a science. By the time I joined the Czech National Bank at the beginning of the century, it was a different story. Monetary policy had been operating under the then-new inflation-targeting regime for two years. Decision-making was increasingly based on a modelling framework derived from New Keynesian macroeconomics, which had gained the status of a fully-fledged science. Whether or not it actually deserved it was never discussed at the time.

One of the key aspects of this new paradigm was the belief that vague monetary policy objectives such as “sound money”, “monetary stability”, and “macroeconomic stability” should be replaced by the more concrete objective of price stability – ideally in the form of a specific numerical inflation target expressed as growth in the consumer price index.

After more than a quarter of a century of experience with this approach, I’m inclined to think that, as usual, we romantically overestimated its capacity. The primary monetary policy objective started to be viewed too narrowly. The focus on a specific number was opportunistically misused to maintain extremely low interest rates and highly supportive monetary policy in times of positive supply shocks, even when there weren’t always strong macroeconomic grounds for doing so.

In many countries, monetary policy became rather asymmetric. A regime designed to prevent time inconsistency in monetary policy often ended up fostering it. I constantly heard the argument, “It doesn’t matter that inflation is currently above the target. It’ll soon return to it thanks to anchored expectations.” Yet as soon as inflation dropped below the target, the rhetoric changed to, “There’s a threat of deflation. We need to have extremely low rates or use other instruments to ease monetary and financial conditions.”

This was despite – or maybe even because of – the fact that monetary policy in developed countries had become a very powerful tool of economic policy. A tool on which hopes are pinned whenever sentiment worsens and economic activity slows. The models we use to assess and forecast macroeconomic developments undoubtedly encourage such hopes.

In the summer of 2002, the Czech National Bank introduced a small-scale, semi-structural, gap-based model called the Quarterly Projection Model (QPM) for forecasting and analysis. QPM was a big step forward. It taught experts and board members to apply a model-consistent approach to macroeconomic policy. In a converging economy with a nominally appreciating currency and a rapidly developing financial sector, it was, of course, difficult for the model to explain everything that was happening. Frustration with the model outcomes began to mount when global macroeconomic volatility surged in 2007 amid large financial imbalances.

I was no longer at the monetary policy coalface at that time, as between 2007 and 2022, I worked in financial stability and macroprudential policy. My only monetary policy-related legacy from this period can be seen on the webpage about “the mandate of the Czech National Bank”, which states: “Through the joint action of monetary policy and macroprudential policy, we contribute to maintaining confidence in the value of the Czech koruna and safeguarding the stability of the macroeconomic environment.” We keep doing so.

Frustration with predictions probably drove the decision to switch hastily to a New Keynesian DSGE model in the summer of 2008. Maybe there were other reasons, but the Czech National Bank’s representatives did not expand on them at the time. Then the Global Financial Crisis erupted, and there was no longer any time for such discussions.

It’s no secret that I never considered it beneficial to replace the semi-structural model with the DSGE model as the sole approach for macroeconomic forecasting. Not because I dislike one theory or model over another, but because theories and models are valuable to a central bank only to the extent that they facilitate an informed and sufficiently comprehensive debate – one that helps us understand the evolving economic story in the short, medium, and long run.

Basing monetary policy decision-making solely on the microeconomically consistent but economically limited New Keynesian DSGE model ultimately narrowed the debate. The process became more automatic, and the decision-making appeared easier. The dilemmas that board members typically face became less visible. They were obscured by the standard linearization around the inflation target, which is typical of New Keynesian models. We tended to overestimate the impact of short-term interest rate changes while underestimating the effects of our powerful communication on long-term interest rates and asset markets. Paradoxically, this more “scientific” approach resulted in greater discretion in decision-making – and in sizeable unintended effects.

Today, in 2025, we are a little more enlightened. The recent wave of inflation was a kind of blessing in disguise. It reminded us that monetary policy is still an art as well as a science. It taught us that the primary purpose of macroeconomic analysis is to distinguish fundamental trends from temporary fluctuations, local peculiarities from global phenomena, and supply shocks from demand shifts. It helps monetary policymakers be principled yet flexible in challenging times, especially during geopolitical and economic turbulence.

In this context, it’s only natural that many inflation-targeting central banks are considering changes to their monetary policy frameworks. More than a year ago, the CNB also decided to undertake an external review of its monetary policy analytical and modelling framework – the first such review in its history. We commissioned three independent reviews to gain a comprehensive perspective. And we got it. Two of the three reviewers accepted our invitation to join this panel.

Before I introduce the panellists, I’d like to make another musical analogy. I belong to a generation where many were briefly fascinated by jazz-rock – virtuoso musicians playing a lot of notes very fast. Amazing at first listen, still entertaining at the third, but for most of us, boring by the tenth – because the music lacked variation in mood, timbre, and rhythm. Then bands like The Police came along – jazz-trained musicians playing simple yet original songs in a technically brilliant yet energetic way, capturing the zeitgeist. With stops and double stops. Leaving plenty of space for the imagination.

I’d be glad if this approach became more widespread in the modelling we do to support monetary policy decision-making. We need analyses that are technically rigorous yet responsive to economic, social, and political dynamics – driven by emotion and belief, scepticism and conviction, avarice and altruism. To achieve this, we must diversify our thinking, remain open to adjusting our mindsets when major shifts occur, and invest in people who can develop alternative models and implement fresh ideas from academic research. We should be open to semi-structural, DSGE, agent-based, and other sorts of models, and use them in a way that improves our understanding of sometimes enigmatic developments in the economy.

Now I will truly hand over the mic to the power trio here today, who – except for one member – also happened to fly in from Britain. They all pay great attention to similar issues while differing in their methodological approaches.

John Muellbauer is a Senior Research Fellow at Nuffield College, Professor of Economics, and a Senior Fellow at the Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.

He earned his undergraduate degree from Cambridge University and his doctorate from the University of California. John has collaborated with legendary macroeconomists and econometrists such as Charles Goodhart, David Hendry, Peter Sinclair, and Adrian Pagan. He has also served as a consultant for the Bank of England, HM Treasury, the South African Reserve Bank, and, more recently, the Czech National Bank. In 2024, he conducted a review of the Czech National Bank’s analytical framework for policy analysis and forecasting, assessing its core and satellite models as part of an integrated approach to monetary policymaking.

Roman Šustek is a Reader in Economics at Queen Mary University of London and a Research Associate at the Centre for Macroeconomics at the London School of Economics. His research focuses on housing, mortgage finance, monetary policy, and the term structure of interest rates. He transitioned to academia after five years as an economist in the Monetary Assessment and Strategy Division of the Bank of England. He earned his PhD from the Tepper School of Business at Carnegie Mellon University, following an earlier role as an economist at the Czech National Bank in Prague. As part of the 2024 Czech National Bank monetary policy review, Roman contributed to the assessment of macroeconomic forecasting models and processes used in policy analysis. In his research and writings, Roman often focuses on the same topics as John, in particular on the links between household consumption, house prices, and mortgage regulation. These are ultimately the topics that were viewed as rather important by the BIS economists under our keynote speaker-Claudio Borio.

Jakub Matějů is the Deputy Executive Director of the Monetary Department at the Czech National Bank and the Acting Director of the department’s Macroeconomic Forecasting Division. He is also temporarily heading the Monetary Department. His research and policy work focuses on macroeconomic forecasting and monetary policy. Before his current role, he worked as an economist in the CNB’s Monetary Department. He later joined the European Central Bank and served as a senior economist in the analytical team of Komerční banka. In 2019, he returned to the CNB as an adviser to the Bank Board and has been the Deputy Executive Director of the Monetary Department since 2023. Jakub has received several Czech Economic Society Young Economist awards and the CNB’s Economic Research Award for his research. He earned his PhD in Economics from CERGE-EI, following his studies at the Institute of Economic Studies, Faculty of Social Sciences, Charles University.

MIL OSI Economics –

April 10, 2025
MIL-OSI Security: Operation Endgame follow-up leads to five detentions and interrogations as well as server takedowns

Source: Europol

While the actions in May 2024 targeted high-level actors who facilitated cybercrime, by deploying ransomware, for example, this follow-up operation targets a different level. Law enforcement moved – and continues to move – against the criminals who used the services taken down during Operation Endgame, focusing on the demand side of the criminal ecosystem. Customers of crime-as-a-service providers are now…

MIL Security OSI –

April 10, 2025
MIL-OSI Global: Sounds of the Ukraine war: what these recordings of daily life reveal about the human and environmental costs

Source: The Conversation – UK – By Janine Natalya Clark, Professor of Transitional Justice and International Criminal Law, University of Birmingham

A Kyiv resident describes it as her favourite morning sound. She is referring to the crisp, clear sound of a trumpet coming from a nearby street. The music is beautiful and soulful, played by a military veteran who sits in the same spot every weekend.

“I am inspired by this strong person who not only plays but also brings a ray of hope to the whole district with his music,” the interviewee reflects.

Trumpet.
Ukrainian interviewee, CC BY2.16 MB (download)

Existing research on war and sound has mainly focused on what J. Martin Daughtry, associate professor of ethnomusicology and sound studies at New York University, terms “the belliphonic” – meaning the spectrum of sounds produced by armed combat. Gunfire. Shellings. Explosions.

In reality, what people hear and remember as the sounds of war are often far more diverse. When I asked a group of Ukrainians to make recordings of their local soundscapes, they captured a wide range of different sounds including the belliphonic – in particular, the increasingly “normal” sound of air raid sirens.

Air raid siren.
Ukrainian interviewee, CC BY784 KB (download)

Yet they were also much more varied than I had expected – a school run; a walk in a winter forest; stridulating crickets; silence during curfew (typically from midnight to 5am); generators on the street; an end-of-project celebration; a rollerskating club.

I also asked participants about their recordings, including how they felt when they listened back to them, as well as more general questions such as how their soundscapes had changed due to the war, and what sounds they missed. These recordings are featured in a recently launched online exhibit.

As I have learnt from my research over the past seven months, sound can offer different – and distinctive – insights into experiences of war. It can elicit thoughts and information that might not arise from conversations and interviews alone.

I had a particular reason for asking Ukrainians to make these soundscape recordings (more than 40 in total). Ecologists, bio-acousticians (scientists who study the creation, transmission and reception of sound) and others have used sound to analyse and monitor soil biodiversity, the healthiness of coral reefs and the impact of wildfires on birdsong.

This fascinating area of research, however, remains neglected in war and armed conflict contexts. In particular, studies examining the environmental impacts of war – including the war in Ukraine – have overlooked the relevance of sound in terms of what it might tell us about the impact of conflict.

In Ukraine, some of the areas that have suffered the greatest environmental damage are not accessible – or at least, not easily. They are saturated with landmines and other unexploded ordnance, occupied by Russian forces, or close to frontline areas.

Russian air attacks on Kyiv in April 2025.

My interviewees were not able to record the sounds of burning forests and steppes (grasslands); or of wild animals in Askania-Nova (Ukraine’s oldest nature reserve) fleeing in fear from low-flying enemy aircraft. All of the interviewees, moreover, were based in cities. Their recordings, however, illustrate some of the ways the war in Ukraine is affecting not just humans but the whole environment.

In one of the recordings, made at night in the city of Zaporizhzhia in south-east Ukraine, there is the sound of explosions as Ukraine’s air-defence system shoots down Shahed drones. Neighbourhood dogs can be heard barking throughout the entire recording.

Drone attack.
Ukrainian interviewee, CC BY1.37 MB (download)

In another recording, in the city of Dnipro in central Ukraine, dogs bark in response to the wailing sound of an air raid siren – and a large dog close-by lets out two prolonged howls.

Howling dog.
Ukrainian interviewee, CC BY1.41 MB (download)

It is impossible to listen to these recordings without thinking about the animals and what they were experiencing and feeling.

A zoologist shared with me a recording he made in 2013, a year before the start of the war in eastern Ukraine. The audio captures the chirping of a steppe marmot in Luhansk region. As the area is now under occupation, you might wonder when listening to it how the sounds of this steppe have changed as a consequence of the war.

Attentiveness to sound has wider implications for justice, and in particular for transitional justice (how societies respond to the legacies of massive and serious human rights violations) – my area of research.

Ukraine is investigating more than 200 cases of environmental war crimes which are alleged to have taken place during the current conflict. Of these, 14 are additionally being investigated as ecocide – a crime included in article 441 of Ukraine’s criminal code. One case relates to the destruction of the Kakhovka dam, in Kherson region, in June 2023.

These legal developments can significantly contribute to addressing the neglect of nature and the environment in transitional justice – a field that remains strongly focused on humans.

Sound is also highly relevant in this regard. As the barking dogs illustrate, it can powerfully capture ways that human and animal experiences of war are deeply entangled.

Using sound as a way of actively monitoring different ecosystems over a period of time can also provide valuable information about changes occurring within them. This is important for understanding how these ecosystems have been harmed and, additionally, how they might be recovering . Oleksii Marushchak, a researcher at the I.I. Schmalhausen Institute of Zoology in Kyiv, said after listening to the recordings:

It is important to reiterate that the majority of interviewees at the time of participating in the study were far from the frontline, where the horrors of war are much more intense than anything that you will hear in the soundscape recordings. One can only imagine what it must be like for people and animals living in close proximity to frontline areas.

Sound is relevant not just to criminal investigations but also the issue of environmental reparations. There now exists a Register of Damage for Ukraine, as the first step in creating an international compensation mechanism to deal with multiple damages – including to the environment – caused during the war. It would be a highly innovative, and welcome, development if this future mechanism were to admit soundscape ecology evidence.

There is also scope for Ukrainian prosecutors to further expand their pioneering work in investigating environmental war crimes and ecocide (which has wider relevance to the work of the International Criminal Court in The Hague) by listening to such recordings – and to the rich information that animals, forests, rivers and soil can help communicate through sound.

When the war ends, it will be essential to consider all the evidence of its many effects and consequences, and sound recordings could be very important.

Janine Natalya Clark receives funding from the Leverhulme Trust.

– ref. Sounds of the Ukraine war: what these recordings of daily life reveal about the human and environmental costs – https://theconversation.com/sounds-of-the-ukraine-war-what-these-recordings-of-daily-life-reveal-about-the-human-and-environmental-costs-253390

MIL OSI – Global Reports –

April 10, 2025
MIL-OSI Global: Donald Trump’s policies are more than dumb — they’re stupid, according to stupidity researchers
Source: The Conversation – Canada – By Jerry Paul Sheppard, Associate Professor of Business Administration, Simon Fraser University

Before he stepped down as Canadian prime minister, Justin Trudeau called Donald Trump’s tariff policies “very dumb.” This might be an accurate description of many Trump administration policies — but the more objectively correct word is “stupid.”

In fact, Québec’s largest newspaper, Le Journal de Montréal, published a front-page photo of Trump in early February with the word “stupid” in 350-point type. Some may call this an opinion, but the science of stupidity tells us that it’s more of a definition.

Recent research has produced a succinct label for the poorly calculated actions of decision-makers: stupidity.

This is not simple name-calling, but a phenomenon that comprises loss and features a set of actions that are either outright recognizably dysfunctional, or appear so at odds with any sensible course of action that it seems a hidden agenda could be involved.

Stupidity that causes everyone to lose

According to the seminal and transactional view of human stupidity by Carlo Cipolla, the late Italian economic historian, interactions fall into four categories:
1. Intelligent interactions that are beneficial to all – a positive-sum game like Scottish philosopher Adam Smith’s notion of wealth through specialization and trade;
2. Helpless interactions that result in a loss in a zero-sum game;
3. Bandit interactions that result in a gain in zero-sum game;
4. Stupid interactions that cause all parties to suffer a loss.
Free trade is based on an intelligent positive-sum interaction. Trump’s transactional zero-sum view is that for every winner there is a loser.

He apparently doesn’t understand that tariffs are only successful if other countries don’t retaliate. But other countries do retaliate, and as the world is now witnessing, the resulting trade war can decimate the global economy.

Trump’s protectionist measures aimed at boosting the U.S. economy can therefore be considered “stupid” interactions that deepen and lengthen economic depression.

Stupidity as recognizable actions

Modern-day researchers have also identified three recognizable sets of actions embodying stupidity:

Confident ignorance that involves people taking risks without having the necessary skills to deal with them. It’s not just being ignorant of one’s ignorance — explained by the Dunning-Kruger effect — but being self-assured despite contrary evidence.

Trump may know what he does not know, so he delegated many tasks to Tesla founder Elon Musk and trade tariff architect Pete Navarro, both of whom seem to possess no such awareness.

Absent-minded failure means people knew the right thing to do but were not paying sufficient attention to avoid doing something stupid. Organizations create agendas, but if issues don’t reach a point where they seriously impact the organization’s objectives, they are ignored.

An example is the recent U.S. strikes against Yemeni Houthis. U.S. officials ignored critical security components by sharing information about their plans over unsecure connections and with a member of the media.

Read more:
‘Signalgate’ was damaging to the Trump administration. It could be deadly for Yemeni civilians

Lack of control means that autocratic decision-makers compromise their organizations by failing to accept objections from those charged with implementing the leader’s preconceived plans.

Such autocratic decision-makers may select biased information to support their proposals. Those working under these leaders either buy into efforts to selectively use information, limit alternatives and execute these preconceived plans or they leave the organization (either voluntarily or not).

In the U.S., witness the firing of Justice Department pardon attorney Elizabeth Oyer. She failed to support restoring gun rights to actor Mel Gibson, who had been convicted of domestic violence in 2011. Gibson’s pardon was reportedly based on his personal relationship with the president.

Types of stupidity

Organizational researchers have used the term functional stupidity to describe those who refuse to use their intellectual capacities when making decisions and then avoid justification for their actions. This allows group members to quickly execute routine functions without much thought.

Dysfunctional stupidity is a lack of organizationally supported reflection, reasoning and justification. Organizations fail to use intellectual resources to process knowledge or question norms or claims of knowledge when confronted with new or non-routine decisions. By blocking communications, muffling criticism and squelching doubts, organizations ensure adherence to superiors’ edicts.

One Trump administration example is the unquestioning permission given to allow the Department of Government Efficiency (DOGE), headed by Musk, to access to a wide array of government data.

It can take the combined efforts of organizational officials on multiple levels to maintain stupidity.

Individually, stupidity is reinforced by ignoring crucial information because of a need for a rapid response.

Consequently, quick decisions and shortcuts made by individuals result in negative outcomes. An example would be the Trump administration’s apparent need to appear to find cost savings quickly to allow for tax cuts, overriding a more logical approach to find ways to achieve those savings without gutting legally mandated services.

Organizationally, stupidity is reinforced because organizations limit acceptable alternative behaviours when they cannot process all available information. Data is restricted, controls are tightened and organization officials fall back to using previously well-learned responses in their comfort zones. Inexperienced decision-makers fall back on uninformed assumptions, or no assumptions at all.

Witness Trump’s “reciprocal” trade tariffs currently decimating financial markets worldwide. No tariffs were calculated using current tariff rates, while others were based on American trade deficits with other countries. Other tariffs seem to be based on no rationale at all.

Read more:
No, that’s not what a trade deficit means – and that’s not how you calculate other nations’ tariffs

Stupidity as a hidden agenda?

Some actions that appear stupid may simply hide a hidden agenda. When the Trump administration erroneously detains and deports anyone under the Alien Enemies Act, is it an accident or a way to instil fear in everyone that authorities can detain, mistreat and deport them without due process at any point?

Many of the actions being taken by the Trump administration appear stupid.
Tariffs, for example, represent a loss — a transactionally negative sum game.

Trump’s decisions exhibit confident ignorance, absent-minded failure and lack of control. They also show dysfunctional stupidity as Trump officials seemingly refuse to use their full intellectual resources. Stupidity is also being reinforced through unfounded assumptions. Is this all hiding a secret agenda?

“You can’t fix stupid,” so the saying goes. But having capable administrators in place while other branches of government exercise their constitutionally mandated oversight role might dampen some of the Trump administration’s stupidity.

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

– ref. Donald Trump’s policies are more than dumb — they’re stupid, according to stupidity researchers – https://theconversation.com/donald-trumps-policies-are-more-than-dumb-theyre-stupid-according-to-stupidity-researchers-253009
MIL OSI – Global Reports –
April 10, 2025
MIL-OSI Australia: Do you know the next ACT Australian of the Year?

Source: Northern Territory Police and Fire Services

The 2023 ACT Australians of the Year: Caitlin Figueiredo, Joanne Farrell, Ebenezer Banful OAM, and Selina Walker

When you hear the phrase “ACT Australian of the Year”, what do you think of?

If it’s a lifelong successful career with a long list of awards, you may have the wrong idea.

According to Lily Harrison, this is a common misunderstanding.

Lily Harrison was a member of the selection panel for last year’s ACT Australian of the Year Awards. She is also the former Co-Chair of the ACT Youth Advisory Council.

“We really limit our opportunities to celebrate young Australians if we look for a long-term and decorated commitment to the community, rather than for genuine interest and involvement,” she said.

“Naming a recipient can be about recognising and encouraging young people who are active in their community, passionate about something and who have potential.”

Lily read through many nominations last year. She said that her favourite ones to read were for people who didn’t have any awards or titles.

“People who weren’t having a national reach, but who had identified a need specific to their community and were using their particular skill set to respond to that need,” she said.

Nominations close on 31 July 2024. Now is the time to nominate the people in your life who inspire you.

Lily said reading the nominations was her favourite part of being on last year’s panel. Some were from people who loved their grandparent or friend. Others were on behalf of highly accomplished professionals.

“Both were heartening to read and, collectively, the nominations described a community of Canberrans who are passionate, innovative, showing up and making a difference,” she said.

It only takes one nomination for an individual to be considered for the award.

“Regardless of whether someone is named as recipient, or not, knowing someone has noticed their work and taken the time to write a nomination, can be a really rewarding acknowledgment and source of encouragement,” Lily said.

Lily suggests including both the tangible and intangible elements of a nominee.

“The nominations where you could really tell how much the nominee cares about the work they’re doing and how much they are valued by their community were, to me, so much more powerful than those with an enormous number of attached documents and links to news articles,” she said.

“That being said, if you’re nominating them for something like their fundraising or their skill in organising a particular event, be specific about how much money they raised and the number of people who attended. It can be hard to name someone as a recipient if they sound really wonderful but you’re ultimately unsure what it is they’ve achieved.”

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MIL OSI News –

April 10, 2025
MIL-OSI Asia-Pac: Alert issued over fake video of the CE

Source: Hong Kong Information Services

The Government today appealed to the public to stay vigilant when it comes to a forged video created by artificial intelligence circulating online about an investment plan purportedly recommended by the Chief Executive.

The fake video claimed that the Chief Executive urged the public to participate in an investment with high returns.

In addition to solemnly clarifying that the so-called remarks by the Chief Executive are fictitious, the Government strongly condemned those who have attempted to distribute fake investment advice in the name of the Chief Executive.

The incident has been referred to Police for a follow-up investigation, it added.

MIL OSI Asia Pacific News –

April 10, 2025
MIL-OSI Australia: Become someone’s hero this DonateLife Week

Source: Northern Territory Police and Fire Services

Heather and her husband, Steve, are enormously grateful for Heather’s second chance at life.

Ainslie artist Heather Aspinall knows what it’s like to benefit from another’s generous act.

This DonateLife Week – Sunday 28 July to Sunday 4 August – she shares her story to raise awareness of organ and tissue donation.

Heather’s journey

In 2018, Heather was diagnosed with a rare genetic condition.

“Alpha 1 anti-trypsin deficiency (AATD) is a condition that usually affects the lungs, but in some people causes irreparable liver damage (cirrhosis),” Heather said.

“It took a few months for it to sink in that I was, in fact, dying and that transplant was my only chance to survive.”

In the years following her diagnosis, Heather was extremely unwell.

She had to have large amounts of fluid drained weekly from her abdomen. She was also treated for aneurysms.

While on the transplant list, Heather and her husband, Steve, waited patiently for ‘the call’.

It came in January 2023. A donor liver was available.

“In many ways I struggled a lot with the idea that someone else would have to die for me to live and that I did not feel worthy of all that sacrifice and effort,” she said.

“There is no greater gift, nothing more generous than to save another person’s life with the gift of your organs or tissue.”

Life post-transplant

Eighteen months on and Heather’s health continues to improve gradually.

“Before the transplant my life was basically being a full-time medical patient,” she said.

“I am feeling much better than I used to. I’m walking up to 3km a day and looking forward to being able to return to dance classes and ice-skating soon.

“My adult son is getting married later this year and every part of me is grateful that I will be alive to see it and be there for him to share in his joy and happiness. One day soon I hope to be able to hold a grandchild in my arms and know how precious life is to be able to do so.”

A second chance at life

Four in five Australians say they support organ donation, however, only 27 per cent of Canberrans have registered their wishes on the Australian Organ Donor Register, which is below the national average.

Heather urges everybody to register during DonateLife Week.

“It is such an easy way to become somebody’s hero! You don’t need to be a superhero, just a kind person with a generous heart (maybe literally!),” she said.

“Every day, there are many occasions when I have to think to myself, I’m here because of the grace, kindness and generosity of my donor and their family, and whisper ‘thank you, donor’ to myself.”

Register now

It only takes one minute to register as an organ and tissue donor at donatelife.gov.au or with three taps on Express Plus Medicare app.

^{Heather before (left) and after her transplant.}

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MIL OSI News –

April 9, 2025
MIL-OSI Australia: Your guide to Tuggeranong’s best public art
Source: Northern Territory Police and Fire Services

Moth Ascending the Capital is one of Tuggeranong’s most iconic public artworks.
Canberra is lucky enough to be home to many art galleries and museums. However, there are pockets of amazing outdoor art sprinkled all over the city.

Tuggeranong is no exception. Here are some of the amazing artworks you can see right in your own neighbourhood:

Tuggeranong Pumphouse

Artist: Dai Cameron and AJ
Location: Cowlishaw Street, Greenway

The artists taught aerosol painting skills to Tuggeranong College students while completing this artwork. It features freshwater cray from the nearby lake and inspiration from nature in the area.

The piece is also inspired by graffiti styles from the legal graffiti wall scene that started in the late 1990s to early 2000s in Canberra. The style is a mashup of a style of fast graffiti called future funk.

Find out more about Dai Cameron.

Unnamed mural

Artist: David Cragg
Location: Tuggeranong 55 Plus Club, 101 Cowlishaw Street, Greenway

This mural is one of three painted at the Tuggeranong 55 Plus Club. Artist David Cragg mentored a group of ‘silver sprayers’ (older artists), from the Seniors Centre to paint the walls. The artwork depicts eye-catching local wildlife with mountain ranges in the distance.

To see more of David’s work, check out his Instagram .

Platypus Story toilet block

Artist: Kristie Peters
Location: Mortimer Lewis Drive, Greenway

Local Wiradjuri artist Kristie Peters digitally designed this mural.

The vinyl wrap mural depicts our native platypus. Kristie says, the platypus represents individuality and encourages our community to be unique.

See more of Kristie’s work here.

Unnamed mural

Artist: Geoff Filmer
Location: Kambah ACT Government depot, Chirnside Circuit, Kambah

Artist Geoff Filmer depicts a blend of fauna and flora painted at the Kambah depot. The work incorporates earthy colours which invites viewers to appreciate the detailed fauna and flora, like the cockatoo.

To see more of David’s work, check out his Instagram.

Firestorm Story Tree

Artist: Bryan Carrick and Mount Taylor Estate community
Location: Between Ammonn and Bolden Places, off Sulwood Drive, Kambah

This artwork was carved on one of the trees that was left standing after the 18 January 2003 firestorm. It’s a symbol of the community’s spirit and resilience.

Find out more.

Kambah Sheep

Artist: Matthew Harding
Location: Kambah Village Shopping Centre, corner of Drakeford Drive and Marconi Crescent, Kambah

This work includes not only sheep, but also:
- Christmas beetles
- a sheep dog
- hardwood poles inlaid and marked with found farmyard objects.
Artist Matthew Harding was inspired by the rural history of the area.

Find out more.

Moth Ascending the Capital

Artist: Alexander Knox
Location: Drakeford Drive median at Summerland and O’Halloran Circuits, Kambah

Alexander Knox designed this sculpture to represent a bogong moth bursting into flight.

Find out more.

Gathering Place

Artist: Wellspring with Brian Carrick
Location: Mortimer Lewis Drive, East Tuggeranong Lake

Gathering Place is part of a recreational and ceremonial place. The creators intended the space to encourage reconciliation between Aboriginal and non-Aboriginal people in the region.

Find out more.

We Are Fishes

Artist: Andrew Townsend
Location: Corner of Reed and Cowlishaw Streets, Tuggeranong

This is a pair of fishes that swim in the air between Tuggeranong Arts Centre and Lake Tuggeranong. The sculpture is made from a pair of wind vanes.

Find out more.

Decollete

Artist: Michael Le Grand
Location: Manning Clark Offices, Tuggeranong

This is another nautical-themed work reflecting the design of Tuggeranong Arts Centre. This sculpture was intended to be at entrance to the Centre. Following changes to the entryway, Decollete moved to its current location.

Find out more.

Angel Wings

Artist: Phil Price
Location: Corner of Soward Way and Drakeford Drive, Tuggeranong

This 10-metre-tall sculpture features aerodynamic wings that move in response to the wind. The sculptor described it as a celebration of being alive.

Find out more.

Discover more public art in Canberra or find street art and graffiti in your area .
MIL OSI News –
April 9, 2025
MIL-OSI Australia: Smiley face signs support safety around schools

Source: Northern Territory Police and Fire Services

New radar speed check signs are being trialled as schools return for a new term.

New smiley face speed check signs are being trialled as schools return for term 3.

Motorists can expect to see the new signs at some ACT schools.

They will light up with a smiley face when a vehicle drives at or below the speed limit.

If a vehicle exceeds the speed limit, the LED sign will show a sad face.

The ACT Government has used the smiley face signs before and they have proven successful in slowing drivers down.

It is hoped the signs will remind Canberrans to drive carefully and keep kids safe.

“The 40km/h school zone is important because it gives motorists extra time to stop in an unexpected situation,” Road Policing’s Detective Sergeant Sean Evans said.

“If everyone abides by the road rules and takes a few extra seconds when driving through school zones, children will arrive and leave school safely.”

These radar speed check signs are not speed cameras. They instead alert motorists in real time if they are adhering to the speed limit.

The signs are for information only. They do not record any vehicle information.

Mobile speed cameras will continue monitoring school zones across the ACT.

Parking safely around schools

The ACT Government will also target illegal parking around schools, as well as sporting events and sportsgrounds.

Both licence plate recognition vans and parking inspectors will be out in force.

“Students are some of our most vulnerable road users and it is critical that motorists driving and parking in school zones understand the importance of abiding by the speed limits and parking legally to keep students safe.” Access Canberra’s Emily Springett said.

“A key area of focus will continue to be ‘line of sight offences’ and ‘parking in no stopping zones’ which can present a danger to students crossing the road.”

Anyone parking dangerously or illegally can expect to receive a fine. These range from $132 to over $640.

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MIL OSI News –

April 9, 2025
MIL-OSI Australia: Construction starts on Garden City Cycleway
Source: Northern Territory Police and Fire Services

The route will help make it easier for Canberrans to choose active travel.
Work has begun on a new active transport route that will better connect the suburbs of the inner north with the city.

The Garden City Cycleway will reduce traffic congestion and shape a liveable, sustainable city.

The cycleway will be positioned east of Northbourne Avenue. It will run through:
- Watson
- Downer
- Hackett
- Dickson
- Ainslie
- Braddon.
It will then join with Canberra’s main cycling network on Bunda and Allara streets.

It will mirror the highly used Sullivans Creek path on the western side of Northbourne Avenue.

The first stage of works will be a new cycleway from Cooyong Street in Braddon through to Angas Street in Ainslie.

The first part of construction will be along Torrens Street. There will be a four-metre-wide concrete walking and cycling path in the eastern verge of Torrens Street. It will run from Cooyong Street to Henty Street. There will also be a three-metre-wide path continuing from Henty Street to Ijong Street in Braddon.

The existing concrete path will be removed and replaced. Six new raised concrete zebra crossings will also be constructed along the route for safe passage.

The $10 million project is jointly funded by the Australian and ACT Governments. Each is committing $5 million.

Procurement is underway for the next two construction packages. These will include works along:
- Torrens Street
- Ijong Street and
- Angas Street.
These works include new traffic lights at the intersection of Limestone Avenue and Ijong Street.

Construction of the first package along Torrens Street between Cooyong and Ipma Street is expected to take around seven months to complete. It is expected to be open for use in early 2025.

For more information, visit www.cityservices.act.gov.au/Infrastructure-Projects.

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MIL OSI News –
April 9, 2025
MIL-OSI Europe: OSCE trains Gender-Sensitive Police Units and Public Order Protection Department staff in Tajikistan to enhance response to domestic violence

Source: Organization for Security and Co-operation in Europe – OSCE

Headline: OSCE trains Gender-Sensitive Police Units and Public Order Protection Department staff in Tajikistan to enhance response to domestic violence

OSCE trains Gender-Sensitive Police Units and Public Order Protection Department staff in Tajikistan to enhance response to domestic violence | OSCE
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MIL OSI Europe News –

April 9, 2025
MIL-OSI United Kingdom: APHA appoints new Chief Executive
Source: United Kingdom – Government Statements

News story

APHA appoints new Chief Executive

Richard Lewis will lead the Animal and Plant Health Agency in its drive to safeguard animal and plant health for the benefit of people, the environment and the economy
Richard Lewis, newly appointed Chief Executive of the Animal and Plant Health Agency.

Richard Lewis has been appointed as the new Chief Executive of the Animal and Plant Health Agency (APHA).

His term will begin on 16 June 2025, following a competitive recruitment process. Richard will take on the role on a permanent basis, succeeding Dr Jenny Stewart, who has served as interim Chief Executive since 1 July 2024.

Richard Lewis, newly appointed Chief Executive of APHA, said:

It’s a real honour to be appointed Chief Executive of APHA.

Now more than ever, the UK needs a strong, science-led Animal and Plant Health Agency.

From protecting our borders against animal and plant threats to unlocking opportunities for trade and growth, I’m excited to champion APHA’s vital work — and to lead alongside the world-class scientists and experts who make it possible.

Richard Lewis biography

Richard has previously served as the Chief Constable for both Dyfed-Powys Police and Cleveland Police.

Richard has held several national portfolios for the National Police Chiefs’ Council (NPCC) and was awarded a NPCC commendation for distinguished service.

In Wales, Richard has also led for the police service on rural affairs such as habitat protection, rural crime and mental health in the agricultural community.

Notes for editors

The APHA safeguards animal and plant health for the benefit of people, the environment and the economy.

APHA is an executive agency, sponsored by the Department for Environment, Food & Rural Affairs, the Welsh Government, and the Scottish Government.

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Published 9 April 2025
MIL OSI United Kingdom –
April 9, 2025

MIL-OSI: YieldMax™ ETFs Announces Distributions on SMCY (102.27%), MSTY (101.29%), ULTY (78.88%), AIYY (70.96%), LFGY (69.83%), and Others

Source: GlobeNewswire (MIL-OSI)

CHICAGO and MILWAUKEE and NEW YORK, April 09, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Weekly Payers and Group D ETFs listed in the table below.

ETF Ticker¹	ETF Name	Distribution Frequency	Distribution per Share	Distribution Rate^2,⁴	30-Day SEC Yield³	ROC⁵	Ex-Date & Record Date	Payment Date
CHPY^*	YieldMax™ Semiconductor Portfolio Option Income ETF	*Weekly*	–	–	–	–	–	–
GPTY	YieldMax™ AI & Tech Portfolio Option Income ETF	*Weekly*	$0.2360	35.40%	0.00%	0.00%	4/10/25	4/11/25
LFGY	YieldMax™ Crypto Industry & Tech Portfolio Option Income ETF	*Weekly*	$0.4170	69.83%	0.00%	0.00%	4/10/25	4/11/25
QDTY	YieldMax™ Nasdaq 100 0DTE Covered Call ETF	*Weekly*	$0.2199	29.87%	0.00%	100.00%	4/10/25	4/11/25
RDTY	YieldMax™ R2000 0DTE Covered Call ETF	*Weekly*	$0.3590	45.69%	0.00%	100.00%	4/10/25	4/11/25
SDTY	YieldMax™ S&P 500 0DTE Covered Call ETF	*Weekly*	$0.2270	29.60%	0.00%	100.00%	4/10/25	4/11/25
ULTY	YieldMax™ Ultra Option Income Strategy ETF	*Weekly*	$0.0822	78.88%	2.21%	0.00%	4/10/25	4/11/25
YMAG	YieldMax™ Magnificent 7 Fund of Option Income ETFs	*Weekly*	$0.0973	38.00%	69.89%	53.05%	4/10/25	4/11/25
YMAX	YieldMax™ Universe Fund of Option Income ETFs	*Weekly*	$0.1289	57.35%	96.57%	64.98%	4/10/25	4/11/25
AIYY	YieldMax™ AI Option Income Strategy ETF	Every 4 weeks	$0.2301	70.96%	4.89%	93.15%	4/10/25	4/11/25
AMZY	YieldMax™ AMZN Option Income Strategy ETF	Every 4 weeks	$0.4877	43.54%	4.40%	89.31%	4/10/25	4/11/25
APLY	YieldMax™ AAPL Option Income Strategy ETF	Every 4 weeks	$0.3023	33.00%	3.44%	44.35%	4/10/25	4/11/25
DISO	YieldMax™ DIS Option Income Strategy ETF	Every 4 weeks	$0.3254	35.32%	4.03%	0.00%	4/10/25	4/11/25
MSTY	YieldMax™ MSTR Option Income Strategy ETF	Every 4 weeks	$1.3356	101.29%	0.50%	0.48%	4/10/25	4/11/25
SMCY	YieldMax™ SMCI Option Income Strategy ETF	Every 4 weeks	$1.5012	102.27%	3.01%	67.02%	4/10/25	4/11/25
WNTR^**	YieldMax™ Short MSTR Option Income Strategy ETF	Every 4 weeks	–	–	–	–	–	–
XYZY	YieldMax™ XYZ Option Income Strategy ETF	Every 4 weeks	$0.4412	59.61%	6.32%	89.82%	4/10/25	4/11/25
YQQQ	YieldMax™ Short N100 Option Income Strategy ETF	Every 4 weeks	$0.4437	30.86%	3.08%	0.00%	4/10/25	4/11/25
Weekly Payers & Group A ETFs scheduled for next week: CHPY GPTY LFGY QDTY RDTY SDTY UTLY YMAG YMAX CRSH FEAT FIVY GOOY OARK SNOY TSLY TSMY XOMO YBIT

Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (833) 378-0717.

Note: DIPS, FIAT, CRSH, YQQQ and WNTR are hereinafter referred to as the “Short ETFs.”

Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

^*The inception date for CHPY is April 2, 2025.

^**The inception date for WNTR is March 26, 2025.

¹	All YieldMax™ ETFs shown in the table above (except *YMAX, YMAG, FEAT, FIVY* and *ULTY*) have a gross expense ratio of 0.99%. *YMAX, YMAG* and *FEAT* have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. *FIVY* has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. *ULTY* has a gross expense ratio after the fee waiver of 1.30%. The Advisor has agreed to a fee waiver of 0.10% through at least February 28, 2026.
²	The Distribution Rate shown is as of close on *April* 8, *2025. The* Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, *which includes option income*, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
³	The 30-Day SEC Yield represents net investment income, *which excludes option income, earned by such ETF over the 30-Day period ended* *March 31, 2025*, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.
⁴	Each ETF’s strategy (*except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each* *Short ETF’s* strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
⁵	ROC refers to Return of Capital. The ROC percentage is the portion of the distribution that represents an investor’s original investment.

Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

Standardized Performance

For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For XYZY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here. For BIGY, click here. For SOXY, click here. For MARO, click here. For FEAT, click here. For FIVY, click here. For LFGY, click here. For GPTY, click here. For CVNY, click here. For SDTY, click here. For QDTY, click here. For WNTR, click here. For CHPY, click here

Important Information

This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

Tidal Financial Group is the adviser for all YieldMax™ ETFs.

THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

Investing involves risk. Principal loss is possible.

Referenced Index Risk. The Fund invests in options contracts that are based on the value of the Index (or the Index ETFs). This subjects the Fund to certain of the same risks as if it owned shares of companies that comprised the Index or an ETF that tracks the Index, even though it does not.

Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.

Russell 2000 Index Risks. The Index, which consists of small-cap U.S. companies, is particularly susceptible to economic changes, as these firms often have less financial resilience than larger companies. Market volatility can disproportionately affect these smaller businesses, leading to significant price swings. Additionally, these companies are often more exposed to specific industry risks and have less diverse revenue streams. They can also be more vulnerable to changes in domestic regulatory or policy environments.

Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.

Risk Disclosures (applicable only to GPTY)

Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory, and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

Risk Disclosure (applicable only to MARO)

Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.

Risk Disclosures (applicable only to BABO and TSMY)

Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting, and investor protection standards than U.S. issuers.

Risk Disclosures (applicable only to GDXY)

Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

Risk Disclosures (applicable only to YBIT)

YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

Risk Disclosures (applicable only to the Short ETFs)

Investing involves risk. Principal loss is possible.

Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.

Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA, MSTR), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

Risk Disclosures (applicable only to CHPY)

Semiconductor Industry Risk. Semiconductor companies may face intense competition, both domestically and internationally, and such competition may have an adverse effect on their profit margins. Semiconductor companies may have limited product lines, markets, financial resources or personnel. Semiconductor companies’ supply chain and operations are dependent on the availability of materials that meet exacting standards and the use of third parties to provide components and services.

The products of semiconductor companies may face obsolescence due to rapid technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Capital equipment expenditures could be substantial, and equipment generally suffers from rapid obsolescence. Companies in the semiconductor industry are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights would adversely affect the profitability of these companies.

Risk Disclosures (applicable only to YQQQ)

Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, or YieldMax™ ETFs.

The MIL Network –

April 9, 2025

MIL-OSI Australia: Sustainable Household Scheme saves Canberrans millions
Source: Northern Territory Police and Fire Services

The ACT Government’s Sustainable Household Scheme (SHS) has generated over $46.9 million in savings for Canberrans.
The ACT Government’s Sustainable Household Scheme (SHS) has generated over $46.9 million in savings for Canberrans.

The SHS provides zero-interest loans to help with the costs of energy-efficient upgrades.

Since it began in July 2021, savings have been achieved through products including:
- rooftop solar systems
- batteries
- ceiling insulation
- replacement of gas or inefficient electric appliances with efficient electric appliances.
The SHS has also supported Canberrans to buy electric vehicles and charging infrastructure.

The upgrades are resulting in energy bill and fuel cost savings.

The Sustainable Household Scheme

Through the SHS, eligible Canberrans have access to up to $15,000 in zero-interest loans.

Loans can be used on a range of energy-efficient upgrades, such as:
- efficient heating and cooling
- cooktops and hot water systems
- solar panels
- battery storage
- electric vehicles
- ceiling insulation.
Savings across Canberra

New data shows the approximate spread of these savings across the ACT.

Tuggeranong leads the way with $12.3 million saved on bills so far.
- Tuggeranong: $12.3m
- Belconnen: $12.2m
- Gungahlin: $10.1m
- Canberra Central: $3.4m
- Weston Creek: $3.1m
- Woden: $3.1m
- Molonglo: $2.3m
- Rest of ACT: $0.3m
Rooftop solar is particularly popular. Approximately 58 per cent of solar installations in the ACT since the start of the SHS used an SHS loan.

Reducing costs and emissions

The SHS has approved over $225 million in loans and supported the installation of over 19,000 sustainable upgrades since it began.

This not only saves households money on energy bills, but it also helps reduce the territory’s emissions.

The SHS contributes to the ACT achieving a sustainable, resilient future, with a target of net zero emissions by 2045.

It is a key part of the Government’s strategy to lower emissions and tackle climate change, while supporting ACT homes to reduce power bills and growing jobs in the region’s renewable energy industry.

Find out more about the SHS at climatechoices.act.gov.au/policy-programs/sustainable-household-scheme

Get ACT news and events delivered straight to your inbox, sign up to our email newsletter:
MIL OSI News –
April 9, 2025
MIL-OSI Australia: Arrests – Aggravated robbery – Darwin

Source: Northern Territory Police and Fire Services

The Northern Territory Police Force has arrested four youths in relation to an aggravated robbery that occurred in Darwin yesterday.

Around 12:15pm, police received reports of a robbery that occurred at a shopping complex on Bagot Road.

It is alleged that two youths entered the store, one of which used a baseball bat from the store to threaten staff. They then stole two scooters and the baseball bat and fled the scene.

A short time later, police received a report of the group attempting to gain entry to a complex in Coconut Grove.

Strike Force Trident attended and arrested four male youths aged 10, 10, 11 and 12.

The 12-year-old male has been charged with Aggravated robbery and Attempted burglary and will face court at a later date.

The remaining offenders were dealt with under the provisions of the Youth Justice Act 2005.

Investigations are ongoing.

Police urge anyone with information about the incident to make contact on 131 444. Please quote reference number P25095881.

Anonymous reports can be made through Crime Stoppers on 1800 333 000.

MIL OSI News –

April 9, 2025
MIL-OSI Australia: Call for information – Alice Springs

Source: Northern Territory Police and Fire Services

The Northern Territory Police Force is continuing to call for information in relation to an aggravated assault that occurred in Alice Springs yesterday.

Police are interested in speaking to the occupants of the pictured vehicle, which was seen in the area at the time of the alleged assault.

Police do not believe the vehicle’s occupants were involved in the incident, but believe they can assist with ongoing enquiries.

Anyone with information is urged to call police on 131 444 and quote reference NTP2500036419. Anonymous reports can also be made through Crime Stoppers on 1800 333 000 or via https://crimestoppersnt.com.au/.

MIL OSI News –

April 9, 2025
MIL-OSI Australia: UPDATE: Call for information – Aggravated assault – Alice Springs

Source: Northern Territory Police and Fire Services

The Northern Territory Police Force is continuing to call for information in relation to an aggravated assault that occurred in the early hours of yesterday morning in Alice Springs.

Police are particularly interested in speaking to the pictured male who they believe can assist with ongoing enquiries.

Anyone with information regarding the identity of the pictured male is urged to call police on 131 444 and quote reference NTP2500036419. Anonymous reports can also be made through Crime Stoppers on 1800 333 000 or via https://crimestoppersnt.com.au/.

MIL OSI News –

April 9, 2025
MIL-OSI Australia: Charges – Aggravated burglary – Tennant Creek

Source: Northern Territory Police and Fire Services

The Northern Territory Police Force has charged three males in relation to an aggravated burglary in Tennant Creek last night.

About 9:25pm, police received reports of a social club being unlawfully entered on Schmidt Street. It is alleged three males aged, 21, 20 and 11-years-old, damaged the property with a crowbar to gain entry before stealing a large quantity of alcohol.

The offenders fled the scene before police arrival but were located and arrested a short time later.

Both adult males have been charged with Aggravated burglary, Damage to property, Theft and Recruitment of a child and were remanded to appear in Tennant Creek Local Court today.

The 11-year-old was dealt with under the provisions of the Youth Justice Act 2005.

MIL OSI News –

April 9, 2025
MIL-OSI Australia: Cheer on our Olympians and Paralympians at the AIS
Source: Northern Territory Police and Fire Services

Canberrans gathered to watch the Matildas play at Canberra’s last watch party in Garema Place.
The Australian Institute of Sport (AIS) Arena has been selected as a live site for the Paris 2024 Olympic and Paralympic Games.

There will be two watch parties in the recently upgraded arena. Sit back on a bean bag and watch the Games on the big screens.

You can also head along to the AIS Visitor Centre to watch the Channel 9 broadcast of the Games. It will be screening from 26 July until 11 September.

Here’s everything you need to know:

When is it on?

There will be two watch parties in August:
- Sunday 4 August for the Olympics
- Sunday 31 August for the Paralympics
Both events will run from 10am to 2pm.

How much are tickets?

The events are free, but bookings are required.

Book your ticket for the Olympics LIVE Watch Party.

Book your ticket for the Paralympics LIVE Watch Party.

What are the food options?

There will be local food trucks at the arena selling food and drink.

Is it family-friendly?

Absolutely. Children are welcome to attend and there will be kids’ entertainment options at both parties.

Are there other entertainment options?

Entertainment options include:
- children’s face painting
- colouring in
- sport demonstrations and challenges
- free AIS tours every 30 minutes
- free entry to Sportex, the interacting sporting exhibit
- meet and greet past Olympians and Paralympians to see their medals
- an Olympic podium and photo wall.
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MIL OSI News –
April 9, 2025
MIL-OSI Australia: Robert Foster artwork finds new home at Kingston Arts Precinct
Source: Northern Territory Police and Fire Services

The Journey contains 37 individual plexiglass cones, known as ‘Ossolites’.
An award-winning Robert Foster artwork is the first confirmed for display in the future Kingston Arts Precinct.

The artwork, titled The Journey, was gifted to the ACT Government.

The work

Many Canberrans will know The Journey. It had pride of place in the foyer of ActewAGL’s Bunda Street premises for over ten years.

The artwork spans around 300 square metres. It contains 37 plexiglass cones, known as ‘Ossolites’.

These glow different colours according to the time of day. Inbuilt motion sensors also interact with viewers’ movement.

ActewAGL commissioned The Journey in 2010, to mark its 10^th anniversary.

The company offered the work to the ACT Government following the sale of the Bunda Street building.

It will now be refurbished and incorporated into the new Kingston Arts Precinct design.

Although The Journey is a gift to the ACT Government, the artist’s estate will receive a voluntary royalty.

This acknowledges the change in ownership and the artist’s continuing interest in the work.

Under the Artist’s Resale Royalty Scheme, artists and their estates are entitled to a 5 per cent royalty whenever an eligible artwork resells in Australia.

The artist

The late Robert Foster was a renowned local artist, best known for the iconic F!NK water jug.

His works are held in major public collections. These include the National Gallery of Australia, the Victoria and Albert Museum, London, and the Museum of Modern Art, New York.

Robert died following a car accident in 2016.

He established F!NK + Co, a design and manufacturing company, with his wife, Gretel Harrison. It has employed many artists who have gone on to productive careers as designers and makers in the region.

“I am super appreciative of artsACT for finding a new home for Robert’s sculpture The Journey so that once again people will be able to walk through his mesmerising forest of lights,” Gretel said.

F!NK + Co will work with the Kingston Arts Precinct design team to integrate The Journey into its new home.

The Kingston Arts Precinct

The Kingston Arts Precinct will be a hub for arts organisations in Canberra.

It will house:
- Canberra Contemporary Art Space
- Canberra Glassworks
- Craft ACT
- M16 Artspace
- Megalo Print Studio
- PhotoAccess
- a new space for Canberra’s Aboriginal and Torres Strait Islander communities.
The precinct will be a fitting new home for The Journey where it will captivate a new audience and further honour the artist’s legacy.

Find out more about the Kingston Arts Precinct at BuiltforCBR.

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MIL OSI News –
April 9, 2025
MIL-OSI Australia: Building connections through shared reading
Source: Northern Territory Police and Fire Services

A new Libraries ACT program is bringing Canberrans together to share the joy of stories read aloud.
No matter your age, there’s something comforting about being read to.

A new program at Libraries ACT taps into this, bringing Canberrans together to experience the joy of stories read aloud.

Shared Reading is a free weekly program offered at Tuggeranong and Dickson libraries.

In each 90-minute session, participants gather to hear a facilitator read a short story.

There are pauses for group discussion. This allows participants to share their thoughts, emotions and personal connections to the story, if they wish.

Building connections

Shared reading sessions present a great way to meet people and make new friends.

The program is designed to support all ages, with particular benefit to those aged 60+.

The sessions offer a powerful remedy for loneliness and isolation.

More than just reading aloud, Shared Reading creates a space where participants can fully engage with the story and each other without judgment.

The approach allows people to connect deeply with the literature and with one another.

The facilitator

Local educator Louise Bromhead will lead the sessions.

With extensive training in Shared Reading facilitation, Louise is passionate about the program and its potential to foster meaningful connections among participants.

Meet and greet

The program kicks off with an information session and meet and greet on Wednesday 17 July 2024.

Participants can learn more about the program, meet Louise, and enjoy a cuppa and biscuit.

Come and join in

Whether you’re an avid reader, looking to connect with others, or both, this program offers a welcoming and inclusive environment for all.

Dates (Wednesdays)
- July: 17, 24, 31
- August: 7, 14, 21, 28
- September: 4, 11, 18, 25
- October: 23, 30
- November: 6, 13, 20, 27
- December: 4, 11, 18
Times
- Tuggeranong Library: 10:15am to 11:45am
- Dickson Library: 1:30pm to 3:00pm
Cost: free

Register to experience the Shared Reading program.

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MIL OSI News –
April 9, 2025
MIL-OSI Australia: Canberra’s best curries

Source: Northern Territory Police and Fire Services

Tokyo Canteen offers a delicious Japanese curry. Image: VisitCanberra

Few foods are as comforting as a curry – especially on a cold Canberra day. Curries encompass dishes from many different cuisines, meaning there is a curry for every taste and mood.

We asked Canberrans on the WeAreCBR page to name their favourite curries. Here are the best, as voted by you:

This restaurant is tucked away at Manuka shops. Its menu includes thali, a Nepalese dish with a choice of curry sauce and proteins. There are also options for vegetarians.

Canberrans from Woden and beyond have flocked to Pearce for Rama’s curries for 29 years. The fusion menu offers a fresh take on Indian cuisine.

Spice Affair offers dishes from different regions of India. Whether you’re craving a korma, madras, daal, vindaloo or rogan josh, their extensive menu has it all.

Locals love Spice Route for its flavourful dishes. The menu includes many traditional Indian dishes and an Indo-Chinese section.

This Belconnen favourite is a short drive from Melba shops. Its menu boasts butter chicken, korma, jalfrezi, rogan josh, vindaloo and many more Indian curry dishes.

No. 8 Thai is at Griffith shops. The menu includes Thai curries like green curry, red curry, yellow curry, massaman, and panang.

Taj Agra is another longstanding Canberra favourite, having opened here 20 years ago. The menu is packed with north Indian classics including tandoori dishes, chettinad, tikka masala and more.

Kinn Thai has an extensive menu that includes barramundi curry, panang curry, green curry, massaman beef curry and a red duck curry.

Mirchi features mainly north Indian dishes, with a handful from southern India too. There are fragrant, spiced dishes on the menu for vegetarians and meat eaters.

The former owners of Sukothia and the Red Hill Tea House have opened Myanmar Corner to celebrate their native Myanmar dishes. The menu is a unique fusion of Indian, Thai and Chinese cuisine.

Indo Café, Canberra City

A lunchtime favourite for hungry city workers. Indo Cafe is well-known for its delicious curries. Their lunch specials are quick, affordable and the perfect remedy for chilly winter days.

The Mustang offers a section of traditional dishes from Nepal and the surrounding region. There are many curries, including palak paneer, butter chicken, prawn curry and more. They cater to vegetarians, vegans and those who are gluten-free.

Lamb shank massaman, wagyu panang, and salmon green curry are just some of the dishes you’ll find at Chong Co. There are vegetarian, vegan and gluten free options on the menu.

The menu at Blu Ginger is reflective of India’s diverse cuisine. You’ll find the seafood allepy curry from Kerala, Goanese fish curry and Punjabi saagwala curry among many others.

Dum Dickson offers traditional Indian curries including madras, korma, saag, vindaloo, rogan josh and more. They have a range of protein options on their menu, and a large vegetarian section.

7 Village has a large menu that’s a mix of Indian and Sri Lankan dishes. There are traditional curries and chef’s specials. They also offer meal deals and lunch specials.

Yogi’s fragrant curries have made them a firm favourite for those in the inner south. They offer authentic Indian dishes, with options for vegetarians.

For a Japanese take on curry, visit Tokyo Canteen for their kare raisu Japanese curry. Choose from either panko chicken, tempura prawn or tofu.

Did we miss your favourite? Send us an email at ourcanberra@act.gov.au.

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MIL OSI News –

April 9, 2025
MIL-OSI Australia: Milestone for Big Canberra Battery
Source: Northern Territory Police and Fire Services

The Williamsdale battery will deliver 250MW of storage.
The ACT Government has reached a major milestone in its work to future-proof Canberra’s energy supply.

The development application has been approved to deliver Stream 1 of the project – a grid-scale battery in Williamsdale.

This ACT Government has partnered with Eku Energy on this project. Construction will begin later this year.

The Big Canberra Battery will be capable of delivering 250 MW of power – more than a third of Canberra’s peak electricity demand. It will be able to deliver this power for two hours.

The Big Canberra Battery will have 500 MWh of capacity, which on a single charge could supply 23,400 households with their daily energy use.

Approximately 180–200 jobs will also be created through the project.

More batteries for Canberra

The Government has also finalised the installation of batteries at nine government sites in the ACT as part of its work on Stream 2 of the project.

The sites include:
- Belconnen Parks Depot
- Gungahlin Family and Child Centre
- Allara Depot
- Kambah Depot
- Ron Reynolds Centre
- Chifley Community Hub
- Ngunnawal Bush Healing Farm
- Cotter Depot
- Greenway Ambulance Station.
The batteries capture energy generated from rooftop solar panels. This will help power the sites and will reduce government spend on electricity, benefitting the broader network during peak electricity consumption times.

Two further batteries will be installed at Mount Stromlo High School and 255 Canberra Avenue, Fyshwick in early 2025.

The ACT Government has also partnered with the Commonwealth Government and Evoenergy through the Community Batteries for Household Solar Program.

Through this, three medium-sized neighbourhood-scale batteries will be installed in Casey, Dickson and Fadden.

A battery operator will be selected in late 2024 following a procurement process.

The Big Canberra Battery project will provide renewable energy security across the electricity grid.

It will help grow the ACT’s renewable energy sector, provide more local employment opportunities, and deliver a positive financial return for the territory.

Building a cleaner future

Battery storage technology is a critical component of the ACT’s net-zero emissions future.

The ACT has delivered 100 per cent renewable electricity since 2020.

Initiatives like this build on that achievement and demonstrate the viability of renewable energy in supporting a robust, affordable and sustainable energy grid.

Find out more about the Big Canberra Battery Project and other ways Canberra is leading the way on climate action by visiting climatechoices.act.gov.au

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MIL OSI News –
April 9, 2025
MIL-OSI Australia: Rehab robots help patients with brain injuries

Source: Northern Territory Police and Fire Services

The equipment can help to improve function after serious brain injuries.

Three new robots at the University of Canberra Hospital are helping patients recover from serious brain injuries.

The hospital is the second public facility of its kind in Australia to offer this service. The robots are a joint venture between Canberra Health Services and the University of Canberra.

The equipment is a tool for treating patients. It can help them to improve function after serious brain injuries including stroke.

World experts have trained the hospital’s team to use these robots. This helps them to find the best ways to build the robots into client treatment.

Students studying occupational therapy and physiotherapy at the university will learn about robotics as part of their coursework. The students will be involved in ongoing research projects at the university.

The university’s Honours students will also be speaking to clinicians and patients about the robots and how they have helped to improve treatment and further build on research.

“By embedding elements of robotics rehabilitation into the University’s relevant course curricula, our students will be exposed to this innovative technology,” Professor Stuart Semple, Executive Dean of the Faculty of Health, University of Canberra said.

“That will enhance their learning outcomes and career opportunities in the health workforce of the future.”

The ACT Government and the Canberra Hospital Foundation funded the three robots. Generous donors and the Canberra Hospital Foundation’s community partnership with GIO also helped.

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MIL OSI News –

April 9, 2025
MIL-OSI Australia: Accessing payments and services now easier for new parents
Source: Northern Territory Police and Fire Services

A new trial is helping parents access government payments and services more easily when having a baby.
Parents having a baby at Canberra Hospital or North Canberra Hospital can now take part in the Birth of a Child Newborn Enrolment Trial.

In partnership with Services Australia, the ACT Government is trialling an Australian-first where parents can register the birth of their baby across federal and territory government agencies using myGov.

The trial makes it easier for parents to access government services and register their baby’s birth.

By signing up to the trial, the hospital will share information with Services Australia to:
- enrol their baby in Medicare and receive a new Medicare card with their baby added
- enrol their baby in the Australian Immunisation Register
- register for their family’s Medicare Safety Net
- register their baby for a My Health Record
- let Centrelink know about the birth of their child to finalise their application for family assistance
- register their baby’s birth with ACT Registry of Births, Deaths and Marriages.
How to access the trial

To enrol in the trial, new parents will need to ensure they:
- check their details with the hospital are up to date
- link their Medicare and Centrelink accounts to their myGov account
- complete a pre-birth claim (as early as 3 months before the baby is born)
- complete a new consent form (provided when your baby is born)
- provide the completed consent form to the hospital before being discharged.
When they agree to participate in the trial, they are agreeing to let Canberra Health Services share information about them and their baby with Services Australia.

A collaborative approach

The ACT Government is working with Services Australia to lead the trial.

The trial automates newborn enrolment and birth registration processes across the state, territory and Commonwealth government agencies.

It supports a cross-jurisdictional ‘tell us once’ approach – reducing the need for parents to re-supply information the government already holds.

When a parent agrees to participate in the trial, they agree to Canberra Health Services (CHS) sharing information about them and their baby to Services Australia.

The Birth of a Child Newborn Enrolment Trial helps remove administrative burden from parents, giving them more valuable time with their baby.

The trial is part of a range of improved maternity services initiatives in the ACT.

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MIL OSI News –
April 9, 2025

Category: Law

The law that built the internet

Censorship and the moderation dilemma

A legal minefield

Reform without ruin

Introductory remarks for the Panel Discussion

Stupidity that causes everyone to lose

Stupidity as recognizable actions

Types of stupidity

Stupidity as a hidden agenda?

Tuggeranong Pumphouse

Unnamed mural

Platypus Story toilet block

Unnamed mural

Firestorm Story Tree

Kambah Sheep

Moth Ascending the Capital

Gathering Place

We Are Fishes

Decollete

Angel Wings

APHA appoints new Chief Executive

Richard Lewis, newly appointed Chief Executive of APHA, said:

Richard Lewis biography

Notes for editors

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