Category: Transport

  • MIL-OSI USA: Peters Introduces Bipartisan Bill to Reform FEMA Individual Assistance Programs

    US Senate News:

    Source: United States Senator for Michigan Gary Peters
    Published: 09.23.2024

    WASHINGTON, D.C. – U.S. Senator Gary Peters (D-MI), Chairman of the Homeland Security and Governmental Affairs Committee, introduced bipartisan legislation to reform the Federal Emergency Management Agency’s (FEMA) Individual Assistance program. This bill would improve how FEMA provides assistance to individuals to rebuild their lives in the aftermath of a disaster. According to the National Oceanic and Atmospheric Administration, there were 28 weather and climate disasters in 2023, surpassing the previous record of 22 in 2020, and with a price tag of at least $92.9 billion in recovery costs.   
    “Severe weather and natural disasters are becoming more frequent, more catastrophic and more costly, leaving people across the country in need of swift federal resources to help assist their recovery,” said Senator Peters. “My commonsense bipartisan legislation would reform the FEMA disaster assistance process and improve how the agency provides assistance to individuals for home repairs, disaster housing, and mitigation activities.”  
    The bipartisan Disaster Survivors Fairness Act would reform individual federal disaster assistance programs to best support survivors. The bill would provide FEMA with new authorities to increase its ability to fund disaster mitigation projects and expand support to homeowners. The bill would also enable FEMA to reimburse states that implement their own innovative post-disaster housing solutions and bolster development of post-disaster solutions for renters. The bill requires FEMA and the Government Accountability Office (GAO) to complete a series of reports and studies that would identify additional challenges regarding the administration of post-disaster assistance for survivors and boost transparency. 
    As Chairman of the Homeland Security and Governmental Affairs Committee, Peters has led several efforts to strengthen our federal disaster preparedness and response. Earlier this year, Peters’ bipartisan bill to create one deadline to apply for two FEMA disaster assistance programs was signed into law. Peters’ bipartisan bill to simplify the federal application process by creating a universal FEMA application across federal agencies passed in the Senate. Peters secured $500 million in funding as part of the bipartisan infrastructure bill for a program he created to help states establish revolving loan programs for local governments to carry out mitigation projects that reduce the risk of shoreline erosion, extreme flooding, and other natural disasters. Peters’ bipartisan legislation to protect FEMA Reservists from losing their full-time employment when they are called up to assist communities with disaster response was also signed into law. Finally, Peters’ bill to help protect pets and other animals during and in the aftermath of natural disasters and emergencies was also signed into law. 

    MIL OSI USA News

  • MIL-OSI USA: What You Need to Know About the End of LIBOR – Investor Bulletin

    Source: Securities and Exchange Commission

    You may have recently read in the financial press about the phase-out of LIBOR.  You may be affected by the transition away from LIBOR if you hold securities, financial instruments or financial products that have exposure to LIBOR.  The SEC’s Office of Investor Education and Advocacy (OIEA) wants to help you understand how the transition away from LIBOR could impact your investments and financial situation, and where you can go for additional information.

    What’s LIBOR?

    U.S.-dollar LIBOR is a benchmark interest rate set by input from a panel of banks.  It has been used to set the interest rate in floating rate, adjustable rate or variable rate instruments or loans, in which the interest rate periodically resets (such as every three months or every year) over the life of the instrument or loan.  LIBOR was used once in over $200 trillion of financial instruments, ranging from sophisticated financial and investment derivatives to bonds, bank loans and consumer products, like adjustable rate mortgages and student loans.

    Replacing LIBOR

    In recent years, however, U.S.-dollar LIBOR is being phased out in response to concerns that the benchmark was being manipulated.  The publication for one-week and two-month U.S.-dollar LIBOR ceased at the end of 2021.  The remaining tenors of U.S.-dollar LIBOR are scheduled to cease publication after June 30, 2023. 

    The end of LIBOR has precipitated the need for an alternative benchmark rate.  In March 2022, Congress enacted the Adjustable Interest Rate (LIBOR) Act.  This Act provides a process and protections for transitioning to an alternative rate in contracts with terms that do not provide for a clear transition.  The Federal Reserve Board adopted a final rule in December 2022 implementing the LIBOR Act and specified benchmarks based on the Secured Overnight Financing Rate (SOFR) as the replacement rates.

    Secured Overnight Financing Rate (SOFR).  SOFR is a broad measure of the cost of borrowing overnight collateralized by U.S. Treasury securities.  It is based on observable transactions in the repurchase market.  The Alternative Reference Rate Committee (ARRC), an industry-led group in which the SEC and other departments and agencies of the U.S. government participate, recommended SOFR as the LIBOR replacement rate.

    What do I need to know?

    Some investments you own, such as mutual funds, ETFs, closed-end funds, business development companies (BDCs), municipal and corporate bonds, and individual stocks, may either be LIBOR-based financial instruments or have exposure to such instruments. 

    For instruments that are subject to the LIBOR Act, the replacement rate will be a SOFR-based rate.  Other LIBOR-based financial instruments that already provide for a clear transition from LIBOR may have other non-SOFR-designated replacement rates, such as the U.S. prime rate. 

    Synthetic U.S.-dollar LIBOR.  The Financial Conduct Authority in the United Kingdom, LIBOR’s regulator, recently required the continued publishing of “synthetic” U.S.-dollar LIBOR for a period of 15 months after June 30, 2023 for use in certain cases to aid in the transition.

    How may I be affected?

    You may be affected by the transition away from LIBOR if you hold securities, financial instruments or financial products that have exposure to LIBOR.

    Municipal, corporate and FHLB bonds.  If you are directly invested in a variable or floating rate municipal, corporate or FHLB bond that relies on LIBOR as a component for the periodic variable rate adjustment, then the cessation of LIBOR will have direct implications for you.  Review any disclosures provided by the issuer of the bond.  You can utilize our EDGAR database to review disclosures by issuers of corporate bonds.  For municipal bonds, you may access information at the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access (EMMA) website.  You can find offering disclosure regarding FHLB bonds on their website.  In addition, it may be worthwhile to have a discussion with your broker or investment adviser about your specific exposure and how the LIBOR transition may affect your specific bond holdings.

    Individual stocks.  Many companies use sophisticated financial and investment instruments and derivatives as a means to manage the company’s financial situation and risk profile.  Many of these instruments and derivatives may incorporate a variable interest rate based on LIBOR. 

    To further understand how a company may be affected by the LIBOR transition, you may review the company’s periodic disclosure in our EDGAR database.  Companies that have material risk exposure to the LIBOR transition should discuss such risks in their annual reports on Form 10-K and quarterly reports on Form 10-Q.  A search for the term “LIBOR” in the document can be a quick way to find the relevant discussions.  The SEC’s Division of Corporation Finance has encouraged public companies and asset-backed securities issuers to keep investors informed about the progress toward risk identification and mitigation, and the anticipated impact on the company, if material, and expects disclosures to evolve as companies provide updates to reflect transition efforts and the broader market and regulatory landscape.    

    Asset-backed securities.  Asset-backed securities are securities whose income payments come from a pool of specific debt obligations, such as mortgages, credit card obligations or car loans.  Mortgage-backed securities (MBSs) issued by Fannie Mae, Freddie Mac and Ginnie Mae are types of asset-backed securities.  New LIBOR-based securities are no longer being issued by these entities, except for certain re-securitizations, which will cease on June 30, 2023.  If you invest in asset-backed securities, then you may want to have a conversation with your broker or investment adviser about how the LIBOR transition may affect your specific holdings of asset-backed securities.  Fannie Mae and Freddie Mac have also prepared frequently asked questions relating to the LIBOR transition that you may want to review.   

    Mutual funds and ETFs.  Mutual funds and ETFs that you own may have invested in individual stocks, municipal bonds, corporate bonds, bank loans and/or securitizations that have risks related to the LIBOR transition.  You along with your broker or investment adviser may want to assess the nature and character of the mutual funds and ETFs you are invested in to determine how much exposure to LIBOR transition risk you have.  Certain types of a mutual funds or ETFs may merit closer review, particularly those investing in companies in the real estate, banking, or insurance industries or specific municipal and corporate bonds, including floating rate debt, and bank loans. 

    You can review a fund’s principal strategies and risk disclosure in its prospectus.  The SEC’s Division of Investment Management has encouraged funds affected by the LIBOR transition to provide investors with tailored risk disclosures that specifically describe the impact of the transition on their holdings.

    Adjustable rate mortgages.  Many adjustable rate mortgages—a mortgage where the interest rate adjusts to the then prevailing market rate after a period of time—are tied to LIBOR as the reference rate.  In 2016, there was an estimated $1.2 trillion in residential mortgages with an interest rate based on LIBOR. 

    If you have an adjustable rate mortgage based on LIBOR, consider consulting with your lender or loan servicer or read the documentation to understand how you may be affected by the LIBOR transition. Read this blog from the Consumer Financial Protection Bureau (CFPB) for more information. 

    Student loans.  Similar to adjustable rate mortgages, student loans can have variable rates based on LIBOR.  If you have a variable rate student loan, consult with your lender or loan servicer or read the documentation to understand how you may be affected by the LIBOR transition.  If you are planning on obtaining a new student loan or refinancing an existing one, consider the LIBOR transition in your decision making.

    Other consumer products.  Other consumer credit products such as credit cards, auto loans and personal loans and lines of credit can also have variable rates based on LIBOR.  You should review the financial products that you hold, particularly those that operate with a variable interest rate, in light of the LIBOR transition.

    Additional Resources

    To learn how the SEC is addressing the LIBOR transition, see the Staff Statement on LIBOR Transition, the Office of Municipal Securities Staff Statement on LIBOR Transition In The Municipal Securities Market, and the Staff Statement on LIBOR Transition—Key Considerations for Market Participants.

    To learn more about adjustable rate mortgages, see the CFPB’s Consumer Handbook on Adjustable Rate Mortgages (CHARM) booklet.

    For additional investor educational information, see the SEC’s website for individual investors, Investor.gov.

    Call OIEA at 1-800-732-0330, ask a question using this online form, or email us at Help@SEC.gov.

    Receive Investor Alerts and Bulletins from OIEA email or RSS feed.  Follow OIEA on Twitter.  Like OIEA on Facebook.

    MIL OSI USA News

  • MIL-OSI USA: Warren, Khanna, Lawmakers Urge Biden Administration to Develop Strong Guardrails for Carbon Sequestration Tax Credit

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    September 23, 2024
    “The absence of robust requirements has severely hindered the effectiveness of 45Q.”
    Text of Letter (PDF)
    Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.) and Angus King (I-Maine), along with Representatives Ro Khanna (D-Calif.), Alma Adams (D-N.C.), Pramila Jayapal (D-Wash.), and Jan Schakowsky (D-Ill.), wrote to the U.S. Department of the Treasury (Treasury), the Internal Revenue Service (IRS), and the U.S. Environmental Protection Agency (EPA), urging the agencies to develop strong guardrails for the 45Q tax credit, which is designed to encourage carbon capture and sequestration (CCS) projects. 
    The 45Q credit was initially designed to incentivize investment in CCS and emission reductions. However, the credit has been primarily used to “increase oil production from aging wells, canceling out most of the emissions reduction benefit.” In 2022, Congress expanded the tax credit through the Inflation Reduction Act (IRA), allowing more companies to claim the credit and receive more money per ton of carbon captured. The IRS is expected to release updated guidelines about the tax credit later this year, and the Department of Treasury has estimated that the 45Q tax credit could cost taxpayers up to $30.3 billion over the next ten years.
    In 2020, the Treasury Inspector General for Tax Administration (TIGTA) found that between 2010 and 2019, 87% of tax credit claims, worth almost $900 million dollars, were awarded to taxpayers who did not meet the EPA’s verification requirements. Currently, IRS examiners are not required to coordinate with EPA personnel to confirm the amount of carbon sequestered by companies claiming the credit, even allowing self-certification in some instances.  
    The lawmakers make three recommendations for the tax credit to be effective. First, the IRS should require independent, third-party verification of carbon sequestration. Second, the IRS and the EPA must coordinate effectively through a memorandum of understanding to more effectively share basic data about the credit’s implementation. Third, the IRS should require stricter record-keeping requirements and establish a 12-year recapture period, during which every company receiving the tax credit needs to maintain detailed records of their carbon sequestration amounts. 
    The following organizations endorsed the letter: Taxpayers for Common Sense, Evergreen Action, the Vessel Project, Port Arthur Community Action Network, Better Bayou, Healthy Gulf, Eco-Justice Collaborative, Science Roundtable on Carbon Capture and Storage, Food and Water Watch, Ohio River Valley Institute, Better Path Coalition, No False Solutions PA, Save Our Illinois Land, Physicians for Social Responsibility Pennsylvania, Mid-Ohio Valley Climate Action, Center for Coalfield Justice, Watchdogs of Beaver County, Clean Air Council and Environmental Health Project. 
    “We need an end to weak oversight and poor safeguards that could allow some of the richest companies in the world to take public money without delivering the real, measurable climate benefits the policy intended. The IRS must act decisively to ensure this tax credit is used only as a genuine tool for carbon reduction by implementing robust, enforceable guardrails. This is the administration’s chance to stop subsidizing climate pollution and ensure the credit has real oversight,” said Craig Segall, Senior Vice President, Evergreen Action.
     “Senator Warren, Representative Khanna, and their Congressional colleagues are asking for what every taxpayer deserves – guardrails and transparency measures that ensure the 45Q tax credit is being used appropriately and effectively to reduce greenhouse gas emissions,” said Autumn Hanna, Vice President of Taxpayers for Common Sense. “To date the vast majority of the carbon capture tax credit has gone to companies pumping carbon into wells to get more oil. But the country can’t afford to give more unchecked subsidies to the oil and gas industry. With an estimated cost of more than $30 billion by 2033, we must take strong steps to avoid any chance of fraud or abuse.”
    The lawmakers requested a briefing from the three agencies by October 4, 2024. 
    Senator Warren has long worked to protect taxpayer money and ensure strong implementation of climate policy: 
    In June 2024, Senator Elizabeth Warren and Representative Sean Casten (D-Ill.) led a letter to the Federal Reserve Board (Fed), Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC), urging regulators to stop their obstruction of global financial regulators’ work to tackle climate-related financial risks. The lawmakers also called out the weaknesses revealed by the Fed’s 2023 “pilot scenario analysis” exploring six major banks’ resilience to climate-related financial risks.
    In May 2024, Senator Elizabeth Warren and Congressman Robert Garcia (D-Calif.) reintroduced the BUILD GREEN Infrastructure and Jobs Act, which would authorize the U.S. Department of Transportation to distribute $500 billion over ten years to electrify and modernize public vehicles and rail and build new electric transportation infrastructure across the country. The bill would also create 1 million new jobs, save $100 billion annually in health damages, and prevent 4,200 deaths per year from air pollution.
    In April 2024, Senator Elizabeth Warren and Representatives Sean Casten (D-Ill.) and Veronica Escobar (D-Texas), urged the Federal Acquisition Regulation (FAR) Council, composed of the Department of Defense (DoD), General Services Administration (GSA), and the National Aeronautics and Space Administration (NASA), to finalize the Federal Supplier Climate Risks and Resilience Rule as quickly as possible.
    In March 2024, Senator Elizabeth Warren (D-Mass.), released a statement describing the Securities and Exchange Commission’s (SEC) finalized climate risk disclosure rule as “the bare minimum.”
    In September 2023, Senators Elizabeth Warren, Bernie Sanders (I-Vt.), Martin Heinrich (D-N.M.), Ed Markey (D-Mass.), Sheldon Whitehouse (D-R.I.), and Jeff Merkley (D-Ore.) called on the Treasury Department to take key actions pertaining to climate and climate-related financial risk to avert the impending environmental and economic crises.
    In September 2023, at a hearing of the Senate Banking, Housing, and Urban Affairs Committee, Senator Elizabeth Warren urged Chair Gensler to quickly finalize a strong climate risk disclosure rule, reminding him that he has a mandate to protect investors and strong public support.
    In March 2023, Senators Elizabeth Warren, Sheldon Whitehouse (D-R.I.), and Representatives Dan Goldman (D-N.Y.) and Jamie Raskin (D-M.D.) and 47 of their colleagues sent a letter to SEC Chair Gary Gensler, urging him to protect investors and finalize a strong climate disclosure rule without further delay.
    In September 2022, at a hearing of the Senate Banking, Housing, and Urban Affairs Committee, Senator Elizabeth Warren called on SEC Chair Gary Gensler to protect investors and stand up to fossil fuel lobbying by issuing a strong climate risk disclosure rule quickly.
    In June 2022, Senator Elizabeth Warren led a comment letter with Senators Sheldon Whitehouse (D-R.I.) and Brian Schatz (D-Hawaii) on the SEC’s mandatory climate disclosure rule, highlighting several areas for improvement and key elements that the SEC should preserve in its final rule, including strong Scope 3 emissions disclosure requirements.
    In March 2022, Senator Elizabeth Warren led a letter with Senators Sheldon Whitehouse (D-R.I.) and Brian Schatz (D-Hawaii) urging the SEC to require disclosure of anti-climate lobbying activities in the Commission’s rule.
    In May 2021, Senator Elizabeth Warren and then-Congressman Andy Levin (D-Mich.) introduced the Buy Green Act to use the enormous breadth of U.S. federal procurement to help fight the climate crisis, spur innovation, and boost demand for American-made clean energy products at home and in the rapidly-growing markets for green products abroad.
    In May 2021, Senator Elizabeth Warren and then-Congressman Andy Levin (D-Mich.) introduced the National Institutes of Clean Energy Act of 2021, legislation that would invest $400 billion over the next ten years to establish and operate a new system of institutes at the Department of Energy dedicated to research and development (R&D) of advanced clean energy technologies.
    In April 2021, Senator Elizabeth Warren and Representative Sean Casten (D-Ill.) reintroduced the Climate Risk Disclosure Act of 2021 which would reduce the chances of environmental and financial catastrophe by requiring public companies to disclose more information about their exposure to climate-related risks.
    In March 2021, Senator Elizabeth Warren unveiled the BUILD GREEN Infrastructure and Jobs Act which would invest $500 billion over ten years in state, local, and tribal projects to jumpstart the transition to all electric public vehicles and rail and help modernize the nation’s crumbling infrastructure. 

    MIL OSI USA News

  • MIL-Evening Report: The power of nostalgia: why it’s healthy for you to keep returning to your favourite TV series

    Source: The Conversation (Au and NZ) – By Anjum Naweed, Professor of Human Factors, CQUniversity Australia

    Janet Julie Vanatko/Shutterstock

    How often do you find yourself hitting “play” on an old favourite, reliving the same TV episodes you’ve seen before – or even know by heart?

    I’m a chronic re-watcher. Episodes of sitcoms like Blackadder (1983–89), Brooklyn Nine-Nine (2013–21), Doc Martin (2004–22) and The Office US (2005–13) – a literal lifetime of TV favourites – are usually dependable in times of stress.

    But recently, ahead of an exceptionally challenging deadline, I found myself switching up my viewing. Instead of the escapist comedy I normally return to, I switched to Breaking Bad (2008–13), a nail-biting thriller with a complex reverse hero narrative – and immediately felt at ease.

    What do our re-viewing choices tell us about ourselves? And is it OK that we keep returning to old favourites?

    Fictional stories, real relationships

    Although one-sided, the relationships we form with characters in our favourite TV shows can feel very real. They can increase a sense of belonging, reduce loneliness – and keep pulling us back in.

    When we rewatch, we feel sadness, wistful joy and longing, all at the same time. We call the sum of these contradictions nostalgia.

    Originally coined in the 17th century to describe Swiss soldiers impaired by homesickness, psychologists now understand nostalgic reflection as a shield against anxiety and threat, promoting a sense of wellbeing.

    We all rely on fiction to transport us from our own lives and realities. Nostalgia viewing extends the experience, taking us somewhere we already know and love.

    Bingeing nostalgia

    The COVID-19 pandemic triggered a wave of nostalgia viewing.

    In the United States, audience analyst Nielsen found the most streamed show of 2020 was the American version of The Office, seven years after it ended its television run. A Radio Times survey found 64% of respondents said they had rewatched a TV series during lockdown, with 43% watching nostalgic shows.

    We were suddenly thrown into an unfamiliar situation and in a perpetual state of unease. We had more time on our hands, but also wanted to feel safe. Tuning into familiar content on television offered an escape – a sanctuary from the realities of futures unknown.

    Revisiting connections with TV characters gave us a sense of control. We knew what lay in their futures, and the calm and predictability of their arcs balanced the uncertainty in ours.

    Nostalgia as a plot point

    Nostalgia has been in the DNA of television since some of the earliest programming decisions.

    Every December, broadcasters scramble to screen one of the many versions of A Christmas Carol, Charles Dickens’ much-retold and family-friendly ghost story, which also features nostalgia as a plot device.

    First screened on live TV in New York City in 1944, on the still-new technology, the broadcast continued a 100-year-old tradition of the classic appearing on stage and cinema screens.

    Settling in around the telly for A Christmas Carol connects us to the holiday period and a heartwarming metamorphosis. Ebeneezer Scrooge revisits long-lost versions of himself and turns from villain to hero and our old friend in a single night.

    For viewers, revisiting this character at the same time every year can also reconnect us with our past selves and create a predictable pattern, even in the frenzy of the silly season.

    Real-world (re)connection

    The neuroscience of nostalgic experiences is clear. Nostalgia arises when current sensory data – like what you watch on TV – matches past emotions and experiences.

    It triggers a release of dopamine, a reward-system neurotransmitter involved in emotion and motivation. Encountering nostalgia is like autoloading and hitting play on past positive experiences, elevating desire and regulating mood.

    So, nostalgia draws on experiences encoded in memory. The TV shows we choose to rewatch reflect our values, our tastes, and the phases of life we have gone through.

    Perhaps this is a reason why reboots of our favourite shows sometimes fall flat, and ultimately set fans up for disappointment.

    I still remember the crushing disillusion I felt while watching the reboot of Knight Rider (2008–09). I immediately turned to social media to find a community around my nostalgic setback

    Stronger through stress

    Going back to my challenging deadline, what was it about the nostalgic experience of watching Breaking Bad that made it different?

    Breaking Bad evokes a particular phase in my life. I binged the first three seasons when writing up my PhD thesis. Walter White’s rise and fall journey towards redemption is enmeshed in the nostalgia of a difficult time I made it through.

    The predictability of Walter White’s arc on second viewing was an unlikely haven. It’s escalating high-stakes drama mirrored my rising stress, while connecting me to who I was when I first enjoyed the show.

    The result? “Dread mode” switched off – even as my anti-heroes marched again to their dire cinematic comeuppance. Reality, past and present, could be worse.

    Anjum Naweed 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. The power of nostalgia: why it’s healthy for you to keep returning to your favourite TV series – https://theconversation.com/the-power-of-nostalgia-why-its-healthy-for-you-to-keep-returning-to-your-favourite-tv-series-237753

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Video: Secretary Blinken hosts a G7+ Ministerial Meeting on Ukraine Energy Sector Support

    Source: United States of America – Department of State (video statements)

    Secretary of State Antony J. Blinken hosts a G7+ Ministerial Meeting on Ukraine Energy Sector Support in New York City, New York, on September 23, 2024.

    Transcript: https://www.state.gov/secretary-antony-j-blinken-with-italian-foreign-minister-antonio-tajani-and-ukrainian-foreign-minister-andrii-sybiha-at-a-g7-ministerial-meeting-on-ukraine-energy-sector-support/

    ———-
    Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.

    The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.

    Get updates from the U.S. Department of State at www.state.gov and on social media!
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    #StateDepartment #DepartmentofState #Diplomacy

    https://www.youtube.com/watch?v=YUQL0C0F1yg

    MIL OSI Video

  • MIL-Evening Report: In the rare event of a vaccine injury, Australians should be compensated

    Source: The Conversation (Au and NZ) – By Nicholas Wood, Professor, The Children’s Hospital at Westmead Clinical School, University of Sydney

    PeopleImages.com – Yuri A/Shutterstock

    Vaccination is one of the most effective methods to protect individuals and the broader public from disease. Vaccines are typically given to healthy people to prevent disease, so the bar for safety is set high.

    People benefit from vaccination at an individual level because they’re protected from disease. But for some vaccines, strong community uptake leads to “herd immunity”. This means people who are unable to be vaccinated can be protected by the “herd”.

    As with any prescribed medicine, vaccines can cause side effects. In the rare case that COVID vaccines did cause a specified serious injury (the scheme listed certain conditions that a person could claim for), Australians have been able to claim compensation. But this ends at the end of this month.

    From then, Australians won’t be able to access no-fault compensation for any vaccine injury – from COVID or any others.

    Why compensate people for vaccine injuries?

    Fortunately, serious vaccine injuries are rare. Most are not a result of error in vaccine design, manufacturing or delivery, but are a product of a small but inherent risk.

    As a result, people who suffer serious vaccine injuries cannot get compensation through legal mechanisms. This is because they can’t demonstrate the injury was caused through negligence.

    Vaccine injury compensation schemes compensate people who have a serious vaccine injury following administration of properly manufactured vaccines.

    The COVID vaccine claims scheme

    In 2021, in recognition of the rare risk of a serious vaccine injury, and in support of the roll out of the COVID vaccine program, the Australian government introduced a COVID vaccine claims scheme.

    The aim was to provide a simple, streamlined process to compensate people who suffered a moderate to severe vaccine injury, without the need for complex legal proceedings. It was limited to TGA-approved COVID vaccines, and to specific reactions.

    The Australian government has said the scheme will close this month and claims need to be lodged before September 30 2024.

    Following its closure, Australia will not have a vaccine injury compensation scheme.

    Australia is lagging internationally

    Australia lags behind 25 other countries including the United States, United Kingdom and New Zealand which have comprehensive no-fault vaccine injury compensation schemes. These cover both COVID and non-COVID vaccines.

    The schemes are based on the ethical principle of “reciprocal justice”. This acknowledges that people acting to benefit not just themselves but also the community (for the benefit of the “herd”) should be compensated by the same community if it has resulted in harm.

    The US, UK and New Zealand all have vaccine injury compensation schemes.
    Monkey Business Images/Shutterstock

    So what happens in Australia now?

    In Australia, people with non-COVID vaccine injuries or COVID vaccine injuries not covered by the current claims scheme must bear the costs associated with their injury by themselves or access publicly funded health care. They will not receive any compensation for their injury and suffering.

    Australia’s National Disability Insurance Scheme (NDIS) provides funding support to access therapies for people with a permanent and significant disability. However, it does not cover temporary vaccine-related injuries.

    Participants with vaccine injuries as a result of taking part in a clinical vaccine trial are compensated. This typically includes income-replacement, personal assistance expenses and reimbursement of expenses resulting from the incident, including medical expenses.

    In Australia, we also have strong compulsion for people to receive routine vaccines through legislative requirements such as No Jab No Pay (which requires children to be immunised to receive some government payments) and, in some states, No Jab No Play (which requires children be fully immunised to attend childcare).

    Countries such as ours that mandate vaccination without providing no-fault injury compensation schemes for rare vaccine injury could be abrogating the social contract by not protecting the individual and community.

    It’s time to set up an Australian scheme

    The Australian immunisation system is among the most comprehensive in the world. Our government-funded national immunisation program provides free vaccines for infants, children and adults for at least 15 diseases.

    We also have a whole-of-life immunisation register and comprehensive vaccine safety surveillance system.

    Australia’s immunisation program provides vaccines for at least 15 different diseases.
    sergey kolesnikov/Shutterstock

    A recent Senate committee recommended:

    the Australian government consider the design and compensation arrangements of a no-fault compensation scheme for Commonwealth-funded vaccines in response to a future pandemic event.

    Vaccines are designed to be very safe and effective. But the “insurance policy” of an injury compensation scheme, if designed and communicated appropriately, should build trust and give confidence to health workers and the general public to support our national vaccine program. This is particularly important given the reductions in uptake of routine vaccines.

    How should it work?

    A no-fault vaccine injury compensation scheme could be funded via a vaccine levy system, as is done in the US, where an excise tax is imposed on each dose of vaccine.

    An effective vaccine injury compensation scheme needs to be:

    • accessible, with low legal and financial barriers
    • transparent, with clear decision-making processes, compensation frameworks and funding responsibilities
    • timely, with short, clear timeframes for decision-making
    • fair, with people compensated adequately for the harm they’ve suffered.

    Legislation to introduce and allocate funds to support an Australian injury compensation scheme for all vaccines is overdue. The draft National Immunisation Strategy 2025–2030 hinted at the opportunity to explore the feasibility of a no fault compensation scheme for all vaccines the Australian government funds, without committing to such a program.

    An Australian vaccine injury scheme, covering all national immunisation program vaccines, not just pandemic use vaccines, should be seen as a crucial component of our public health system and a social responsibility commitment to all Australians.

    Nicholas Wood previously received funding from the NHMRC for a Career Development Fellowship and is a Churchill Fellow.

    Sophie Wen receives funding from Queensland Government for an Advancing Clinical Research Fellowship and is a Mary McConnel career boost program recipient from Children’s Hospital Foundation. Sophie Wen is an investigator for several industry-sponsored clinical vaccine trials but does not receive any direct funding.

    Tim Ford 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. In the rare event of a vaccine injury, Australians should be compensated – https://theconversation.com/in-the-rare-event-of-a-vaccine-injury-australians-should-be-compensated-232396

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Video: Secretary Blinken remarks at the Freedom Online Coalition Ministerial Event

    Source: United States of America – Department of State (video statements)

    Secretary of State Antony J. Blinken remarks at the Freedom Online Coalition Ministerial Event on AI for Humanity: Charting the Global Course for Human Rights-Based Governance in New York City, New York, on September 23, 2024.

    Transcript: https://www.state.gov/secretary-antony-j-blinken-at-the-freedom-online-coalition-ministerial-event-on-ai-for-humanity-charting-the-global-course-for-human-rights-based-governance/

    ———-
    Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.

    The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.

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    https://www.youtube.com/watch?v=URttmiqkuTc

    MIL OSI Video

  • MIL-OSI USA: Representative Doggett and Senator Warren Lead Members Urging Biden Administration to Lower Price of Popular Weight-Loss Drugs

    Source: United States House of Representatives – Congressman Lloyd Doggett (D-TX)

    Contact: Alexis.Torres@mail.house.gov

    Washington, D.C.Today, U.S. Representative Lloyd Doggett (D-TX-37) and U.S. Senator Elizabeth Warren (D-Mass.) led an effort to urge the Biden Administration to improve American health and well-being by lowering the cost of vital weight-loss drugs. Specifically, the members are calling for Health and Human Services (HHS) Secretary Xavier Becerra to use existing legal authority to issue generic licenses for semaglutide, a prescription drug commonly used to treat obesity and diabetes and is sold under the brand names of Ozempic and Wegovy. Similarly, a coalition of more than 20 organizations has also called on Secretary Becerra to take such action.

    “With a sticker price of up to $1,400 per month, patients can rarely afford Wegovy or Ozempic out-of-pocket and few insurance plans offer complete coverage due to the prohibitive cost,” the members wrote. “One study has found that covering these drugs for just 10% of Medicare beneficiaries with obesity would cost taxpayers $27 billion a year. Coverage for all Americans would cost nearly $1 trillion. A recent report from the Congressional Budget Office (CBO) estimated that the cost to cover these drugs would outweigh any savings from reduced utilization of associated health services and treatments.” 

    “Manufacturers will frequently cite the cost of innovation and the need to recoup research and development costs as the reason for charging sky-high prices.  Yet, time and again, this is debunked,” the members continued. “In the case of Ozempic and Wegovy, the manufacturer has earned over $38 billion in revenue from these two drugs and Goldman Sachs Research predicts revenue will reach $100 billion within this decade.  Meanwhile, last year, the manufacturer spent nearly twice as much on enriching its shareholders with stock buybacks and dividends ($8.95 billion) than on research and development ($4.71 billion).

    Under Section 1498, a more than a century-old statutory authority, the Biden Administration may lower prices by permitting generic competitors to license patented inventions in exchange for reasonable compensation to the brand-name manufacturer. By exercising this existing authority, HHS could help stabilize the health care market while meeting high consumer demands at more affordable prices.

    Additional signers include Senator Jeff Merkley (D-OR) and Representatives Eleanor Holmes Norton (D-DC), Sheila Cherfilus-McCormick (FL-20), Ro Khanna (CA-17), Pramila Jayapal (WA-07), Cori Bush (MO-01), Mark Pocan (WI-02), Jan Schakowsky (IL-09), Rashida Tlaib (MI-12), Mark Takano (CA-39), Rosa DeLauro (CT-03), Greg Casar (TX-35) and Barbara Lee (CA-12).  

    The letter in full can be found here and below. 

    Dear Secretary Becerra:  

    We write to strongly urge you to use your existing legal authority under 28 U.S.C. § 1498 to protect the public’s health and safety to ensure reasonable prices on semaglutide, a prescription drug sold under the brand names of Ozempic and Wegovy and commonly used to treat diabetes and obesity.  By utilizing your competitive licensing authority to permit generic competitors to Wegovy and Ozempic, you can stabilize supplies at a time of enormous demand and lower outrageous prices that have severely limited access to these life-changing drugs.  

    Approximately 38 million, or one in ten, Americans has diabetes, and an additional 100 million American adults have prediabetes. Nearly one-third of adults are overweight and 42% are obese.  Diabetes and obesity are associated with heart disease, stroke, kidney disease, and more.  Yet, the federal government has failed to restrain Big Pharma price gouging to ensure patients can afford the newest treatments.   

    With a sticker price of up to $1,400 per month, patients can rarely afford Wegovy or Ozempic out-of-pocket and few insurance plans offer complete coverage due to the prohibitive cost.  One study has found that covering these drugs for just 10% of Medicare beneficiaries with obesity would cost taxpayers $27 billion a year.  Coverage for all Americans would cost nearly $1 trillion. A recent report from the Congressional Budget Office (CBO) estimated that the cost to cover these drugs would outweigh any savings from reduced utilization of associated health services and treatments. 

    Due to budget-busting prices, only 16 states offer state employee or Medicaid coverage for these drugs.  About 34% of employer plans offer coverage and only about 1% of Affordable Care Act (ACA) Marketplace plans do the same.  Put another way, 99% of consumers with Marketplace plans have no access to these drugs, while 66% of workers with private employer plans and 68% of state employees and Medicaid recipients are denied access.  The few insurers that offer coverage for Ozempic and Wegovy often include several restrictions to limit the financial impact.  For example, the Department of Veterans Affairs requires patients with diabetes to try and fail with two or more medications before the VA will cover Ozempic.    

    We do not condemn the states and insurers that have limited access to these drugs under such difficult circumstances.  It would be irresponsible to offer unlimited coverage when prices are also unlimited.  The North Carolina State Health Plan ended coverage after spending $100 million in a single year on these drugs—spending that would have required insurance premiums to double to offset the cost. If half of all Americans with obesity could access these drugs, it would cost an estimated $411 billion a year, more than all existing prescription drug spending in the U.S. 

    We do not need to waste taxpayer dollars, bankrupt health systems, or deny patients access to effective treatments.  We can save consumers’ health and be fiscally responsible by stopping Big Pharma monopoly abuse.  These drugs cost Americans up to 15 times more than patients in peer countries like Canada, Japan, Germany, the UK, and Denmark. There is no reason for Americans to pay the world’s highest prices, substantially more than other wealthy Nations, for the exact same medicines.  

    Manufacturers will frequently cite the cost of innovation and the need to recoup research and development costs as the reason for charging sky-high prices.  Yet, time and again, this is debunked.  In the case of Ozempic and Wegovy, the manufacturer has earned over $38 billion in revenue from these two drugs and Goldman Sachs Research predicts revenue will reach $100 billion within this decade. Meanwhile, last year, the manufacturer spent nearly twice as much on enriching its shareholders with stock buybacks and dividends ($8.95 billion) than on research and development ($4.71 billion).   

    The exorbitant prices paid by Americans are financing corporate greed, not innovation.  While we recognize the important role of the private sector in research and development and support the ability to make a reasonable profit, industry interests should not outweigh meeting health and safety needs for all consumers and providing accountability to taxpayers.  When manufacturers use their monopoly power to extract unfair and unjustified prices at the expense of consumers, the federal government must restrain such abuse.   

    Under Section 1498, the Administration has the clear authority to license generic competition on any patented invention “used or manufactured by or for the United States.”  Rightly, patentholders are entitled to reasonable compensation set by the U.S. Court of Federal Claims.  This law ensures Americans may access important goods while protecting the rights of inventors and providing fair compensation.  For over a century, this authority has been used across technologies, ranging from fraud detection banking software and electronic passports to methods of removing hazardous waste.  Section 1498 has also been used to authorize generic, lower cost drugs, and just the threat of this authority, has incentivized brand-name manufacturers to voluntarily cut prices.   

    You have the opportunity and responsibility to dramatically improve health care access and achieve substantial taxpayer savings by using Section 1498 to authorize generic competitors to Ozempic and Wegovy.  We strongly urge you to use your clear statutory authority and stand ready to assist in your efforts to deliver long overdue relief to American taxpayers and consumers. 

    MIL OSI USA News

  • MIL-OSI USA: Speaker Johnson: Congress Has an Obligation to the American People to Secure American Elections

    Source: United States House of Representatives – Representative Mike Johnson (LA-04)

    WASHINGTON — This morning, ahead of the House vote on a six month spending measure to avoid a government shutdown and protect American elections from noncitizen voting, Speaker Johnson joined Fox News’ Fox and Friends and CNBC’s Squawk Box to implore Congressional Democrats to protect American elections, highlight the 2025 GOP economic agenda, and detail plans to expand the investigative scope of the Task Force to Investigate the Assassination of President Trump.

    Click here to watch the full “Fox and Friends” interview

    Click here to watch the full “Squawk Box” interview

    On Congress’s responsibility to protect elections and fund the government:

    Listen, Congress has an immediate obligation to do two very important things. We have to keep the government funded, and we need to make sure that our elections are secure. And we have a vehicle today to do both things, because we owe that to the American people and because they demand it. We’re moving legislation today to have a continuing resolution to keep the government going for six months and to make sure that illegals cannot vote, noncitizens cannot vote in the upcoming election. It’s a number one issue around the country.

    On the GOP plan for economic growth:

    We implement the principles and the policies that we’ve always espoused, and that is less regulation and lower taxes. It’s a pretty simple formula, and it has a great result. So, we want to expand upon the Trump era tax cuts, and we want to do massive regulatory reform. One of the problems we have right now across the free market is that the federal government has been, these agencies have been weaponized against the industries they’re supposed to be assisting and regulating in a meaningful way. Under the Biden-Harris Administration, they have almost smothered the free market. I mean, it’s like the boot of government is on the neck of job creators and entrepreneurs and risk takers who are just trying to do their jobs, and they’ve made it almost impossible. So, we’re going to reverse that.

    If you get Republican leadership in the White House, the Senate and the House, unified government, we will put this thing on turbo. You will see massive regulatory reform. We have a great opportunity. The Supreme Court has overturned a Chevron doctrine. We have all the talk about political tailwinds in a moment of opportunity. That’s what we’ll see in the first quarter of next year, and you’re going to see a lot of change that I think will really incentivize more opportunity, more investment, more American manufacturing, detangle from China, get the border under control and stop the illegal immigration and stop the maddening government spending that’s been out of control for the last four years.

    On expanding the Task Force Investigating the Assassination of Donald Trump:

    I had that conversation with the White House yesterday. I called and demanded that President Trump receive the same level of protection that the sitting president does, because he is under such great threat. I mean, clearly, he’s the most threatened figure in American public life, and the Secret Service has an obligation to protect him, so they need to make every available asset assigned to him right now.

    President Trump and I have talked about this, and now I’ve talked about it with the White House. Now, they say they’re going to be cooperative, but they also say there’s a manpower issue. So, Congress is looking at every aspect of this. If we need to add additional funding, we will, but it’s difficult to go hire 2,500 new secret service agents in the next 48 days, right? So, they’re going to have to rely upon, in some cases, to fill the gaps local and state law enforcement. And so, we’re looking at every aspect. This job must be done. President Trump must be protected. 

    MIL OSI USA News

  • MIL-OSI USA: Chairman Arrington Holds “Cost of the Biden-Harris Energy Crisis” Hearing

    Source: United States House of Representatives – Congressman Jodey Arrington (TX-19)

     WASHINGTON, D.C. – Today, House Budget Committee Chairman Jodey Arrington (TX-19) delivered opening remarks at the hearing The Cost of the Biden-Harris Energy Crisis.”

     

    Opening Statement as Delivered:

    “Our hearing today focuses on the fiscal cost and economic consequences of the Biden-Harris Administration’s failed economic and energy policies. Those costs have been significant and measurable, and the consequences have been manifold and dire.

    The whole government regulatory attack on conventional fuels, the increased taxes on oil and gas, and massive market-distorting green energy subsidies have choked the lifeblood of the greatest economy in the world. It’s also crushed our working families with a cost-of-living crisis, and it has compromised our national security by making the United States more reliant on foreign adversaries.

    The Biden-Harris Administration has issued 250 executive actions against one industry, an industry that employs 10 million people with high wage jobs and represents almost 10 percent of our total economy, and has had, no doubt, a positive impact on every facet of our daily lives by producing the most reliable, affordable, and abundant source of energy as a result of our God-given blessed resources and the most innovative and efficient energy industry operators.

    We have the strongest and most dynamic economy in the world. It’s why we have the greatest fighting force in the world, and it’s why we are the world’s superpower. But today, the failed energy policy is driven by what I believe is an extreme climate agenda that has undermined all of the above. It’s resulted in higher gas prices at the pump, as high as over $5 dollars, the highest we’ve ever seen and experienced in this country, on average, it’s been $1 dollar more per gallon in cost than the previous Administration.

    The cost of electricity has gone up now 25- 30 percent for families. The total consumption cost for average-income families is almost twice what it was in the previous administration. Policies have consequences, and that consequence for families is a whopping $1,700 per family per year. These costs on the economy and our consumers, the American people, are a direct result of the policies of the Biden-Harris Administration.

    On his first day in office, President Biden canceled the Keystone XL Pipeline, which would have saved us in transportation cost and safety, $50 billion but it didn’t stop there. It was all critical infrastructure in the links of the supply chain, from export terminals to permitting refineries and other pipelines. Biden-Harris’s moratorium on drilling on public lands will cost $33 billion in lost GDP and roughly 60,000 jobs. There have been overreaching and overburdening emission regulations coming out of the EPA. Think about the methane gas rule. We’ve seen a 66 percent reduction by the industry over the last several years in methane gas emissions.

    The EV mandate alone, the tailpipe emissions, cost $870 billion over roughly 20 years. They’ve depleted our strategic petroleum reserves to smooth off the edge of the spike in prices, and we’re now down with the strategic petroleum reserve at a 40-year low. On the subsidy side, there are $800 billion in tax subsidies for green energy corporations, and some studies say that 70 percent of that value will be accrued to China because of their rare earth mineral mining and parts to the renewable energy industry. The EV tax credit is, in many ways, going to upper-middle and upper-income individuals, and I want to dig into that with you. The impact on middle-class families and our minority communities here in the United States is hard. 

    The fiscal health of our country is in decline. I think we all agree with that. You can’t look at the balance sheet, you can’t look at CBO’s projections, you can’t look at the debt to GDP, which is higher than it’s been since World War II and more. We have to rein-in spending and we have to grow this economy. We must have policies that encourage and foster growth, and central to that are good energy policies. If we can grow 1 percent, we can save $3 trillion to put against the deficitIf we grow 1 percent, we can add $10,000 over 10 years and hardworking Americans’ pocketbooks. We can bring the debt to GDP down by at least 20 percentage points.

    Growth is key, and the lifeblood of that growth is energy policies. We’ve seen the opposite of it, disastrous energy policies and disastrous results. We must make a change if we’re going to get our country on a good fiscal path and hand it to our children in the manner that gives them the opportunities and prosperity that we’ve all enjoyed.”

     

    MIL OSI USA News

  • MIL-OSI USA: Huffman Highlights Threats of Trump’s Project 2025

    Source: United States House of Representatives – Congressman Jared Huffman Representing the 2nd District of California

    September 19, 2024

    Today, Founder of the Stop Project 2025 Task Force Jared Huffman joined House Assistant Minority Leader Joe Neguse and leaders from across the Democratic Caucus for a press conference focused on House Democrats’ resolution opposing Project 2025. The lawmakers were joined by DPCC Co-Chair Lauren Underwood, and Reps. Kathy Castor, Lizzie Fletcher, and Chris Deluzio. 

    Find a full video of the press conference HERE, as well as highlights below. 

    Task Force Chair Jared Huffman: “House Republicans, though, are not waiting for a second Trump presidency to get started on this agenda. Everywhere you turn in this Congress, extreme MAGA Republicans are working straight out of the pages of Project 2025. We’re seeing it in Committees, at roundtables, every single day we see it on the House Floor. Climate action, protections for the middle class, social safety nets, and abortion rights have all been on the chopping block in this Republican majority, and it’s like they have lifted their entire legislative agenda right out of the pages of Project 2025. So – sunlight, we know, is the best disinfectant. That’s why our task force, along with the DPCC and many of our House Democratic colleagues, have been focused on doing something very simple but critically important, showing people what’s actually in Project 2025, helping them just understand it, bringing it out of the shadows.” 

    Assistant Leader Joe Neguse: “While Americans across the country look to leaders here in Washington, D.C. to solve problems – issues of critical importance facing our country, facing families across our land. Our colleagues, regrettably, across the aisle, are charging forward in lockstep with the agenda outlined in Project 2025 by former President Trump. For anyone who’s looking for proof of that. Look no further than the actions of House Republicans over just the past few months and their attempts to provide huge new tax breaks to billionaires, their attacks on education and health care, environmental programs – as you’ll hear from my colleagues – and of course, their efforts to strip Americans of fundamental freedoms. These actions, in my view, are grossly out of step with the needs and the wants of the American public. And so really, the question is, one for House Republicans. It’s time for them to make a choice Project 2025 or the American people.” 

    Co-Chair Lauren Underwood: “To put it simply, Donald Trump’s Project 2025 will make more Americans sick and without the coverage they need to take care of themselves. When people tell you who they are, when people tell you who they are, we must believe them. This document is not an abstract, rough draft collection of ideas. This document is a radical, detailed plan to seize power, to take over our government, and to completely change our way of life. It is 920 pages that outline exactly who Donald Trump is and where Republican priorities lie. It is dangerous for America. It is dangerous for our families, and it is dangerous for our communities.” 

    Rep. Kathy Castor: “I’m here to talk about what is in this radical Project 2025 plan when it comes to our public health, climate, and clean energy. But let me start by saying I’m so proud to stand here with my colleagues who have been working day in and day out here in the Democratic caucus to to lower costs, to grow the middle class and build a safer, healthier America…My message: hold on to your wallet, Americans, because if Project 2025 is enacted, you’re going to be paying more. And let’s talk about that. What that means when it comes to our environment. Project 2025 contains these very, very outlandish, and expensive proposals, things that are going to raise costs and they’re going to increase pollution. They want to make it easier to pollute in America. Now, I think Americans value clean air, clean water cleaner, cheaper energy.” 

    Rep. Lizzie Fletcher: “[Project 2025] would criminalize abortion nationwide. Doesn’t matter where you would live, where you live. It would criminalize abortion nationwide. It would block access to abortion pills and to medical equipment. It would restrict access to birth control. That’s right. We’re not talking about abortion. We’re talking about birth control, contraception, whatever you call it. It would restrict access to birth control, and it would even ban fertility services that help families that are struggling, that are trying to get pregnant, like in vitro fertilization or IVF. It would even allow the government to monitor pregnancies and their outcomes. That really bears repeating. I know of no one who wants the government monitoring their pregnancies and their outcomes with the possibility, of course, of prosecuting women who have miscarriages, which is a very, very common and often devastating outcome of a pregnancy.” 

    Rep. Chris Deluzio: “Project 2025 really puts at risk our country’s ability to care for veterans. It proposes to slash care and benefits for disabled veterans. It looks to cut costs on the backs of future disability rating awards and adjust those standards for existing claims. It continues this trend of outsourcing and privatizing care, where we know our government pays more for worse outcomes relative to what my fellow veterans often receive at VA. It could lead to disenrolling millions of veterans who don’t have a service connection designation for care they want to seek within the VA. That could really hurt a lot of veterans. That is one of the main components of what Project 2025 seeks to do around veterans’ care.” 

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    MIL OSI USA News

  • MIL-OSI Asia-Pac: Dr. P. K. Mishra, Principal Secretary to the Prime Minister chairs High Level Task Force meeting on air pollution in Delhi-NCR

    Source: Government of India (2)

    Dr. P. K. Mishra, Principal Secretary to the Prime Minister chairs High Level Task Force meeting on air pollution in Delhi-NCR

    Reviews various measures being undertaken to prevent and abate air pollution in Delhi-NCR

    Emphasized on the need to shift to e-vehicles and also develop EV charging infrastructure in NCR areas

    Calls for strict implementation of the actions listed in GRAP

    Ensure commitment in eliminating paddy stubble burning across Punjab, Haryana and Uttar Pradesh: Principal Secretary

    Various steps to improve preparedness for dealing with the issue of adverse air quality in Delhi-NCR decided in the review meeting

    Posted On: 23 SEP 2024 8:29PM by PIB Delhi

    Dr. P. K. Mishra, Principal Secretary to the Prime Minister, chaired a High-Level Task Force meeting today at the Prime Minister’s Office (PMO) to assess the readiness of stakeholders in addressing the issue of deteriorating air quality in Delhi-NCR, particularly as the winter season approaches.

    The meeting focused on evaluating ongoing efforts to tackle pollution from various sources, including paddy stubble burning, vehicular emissions, road and construction dust, solid waste management, and diesel generator (DG) sets. Dr. Mishra emphasized the critical importance of strict and timely implementation of the Graded Response Action Plan (GRAP) by all relevant agencies to mitigate worsening air quality during the winter months.

    Chairman, Commission for Air Quality Management (CAQM) Shri. Rajesh Verma presented details on the upcoming paddy straw generation, estimating 19.52 million tonnes in Punjab and 8.10 million tonnes in Haryana. Both states have committed to eliminating stubble burning this year. Punjab plans to manage 11.5 million tonnes of its paddy straw through in-situ crop residue management and the rest via ex-situ methods. Haryana will similarly manage 3.3 million tonnes in-situ and use ex-situ methods for the remainder. Over 1.50 lakh crop residue management (CRM) machines will be available in Punjab, supported by 24,736 Custom Hiring Centres (CHCs), while Haryana has 90,945 CRM machines supported by 6,794 CHCs.

    In addition, 2 million tonnes of paddy straw will be co-fired in 11 thermal power plants across the NCR region. The meeting stressed the need for regular monitoring of thermal plants to ensure co-firing targets are met, with penalties for non-compliance.

    Regarding industrial pollution, CAQM informed that 220 out of 240 industrial areas in the NCR region are now equipped with gas infrastructure, with the remaining areas set to be connected soon. Dust pollution from construction and demolition (C&D) activities is being remotely monitored through a web portal, with mandatory registration for projects over 500 square meters.

    Dr. Mishra instructed Chief Secretaries of Punjab, Haryana, and Uttar Pradesh to rigorously monitor and implement action plans aimed at eliminating stubble burning as committed in their action plans. He stressed the need for full utilization of CRM machines, strengthening the supply chain for ex-situ management, and supporting small industries in briquetting and pelletizing operations to enhance the economic use of paddy straw. Strict enforcement actions against violators, with appropriate penalties and record entries, were also highlighted.

    Principal Secretary also requested Chief Secretary’s of NCR region states to augment their e-Bus services in the region. PM eBus Sewa Scheme aims to increase the e-Buses in our country by 10,000 e-Buses. States/UTs should judiciously aim to use the scheme to increase their fleet of eBuses.

    He also emphasized on the importance of Ek Ped Maa Ke Naam program and its sentimental value for every individual should be used in greening the City.

    In terms of firecracker pollution, state governments and law enforcement agencies were asked to strictly enforce bans and restrictions, while the Ministry of Petroleum and Natural Gas was urged to expedite the collection of biomasses and accelerate the construction of compressed biogas (CBG) plants.

    The meeting was attended by Cabinet Secretary Dr.T.V Somanathan, Delhi Police Commissioner and key officials from the Ministries of Environment, Agriculture, Power, Petroleum, Road Transport, Housing and Urban Affairs, and Animal Husbandry, along with representatives from the Central Pollution Control Board (CPCB), State Pollution Control Boards (SPCBs), and the Chief Secretaries and their representatives from the states of Punjab, Haryana, Uttar Pradesh, Rajasthan, and UT of Delhi.

    *****

    GS

    (Release ID: 2058034) Visitor Counter : 318

    MIL OSI Asia Pacific News

  • MIL-OSI USA: Protect Your Thrift Savings Plan (TSP) Account From Fraud — Investor Alert

    Source: Securities and Exchange Commission

    The SEC’s Office of Investor Education and Advocacy (OIEA) and Division of Enforcement Retail Strategy Task Force are providing tips for investors in the Thrift Savings Plan to help protect against fraud.

    Most federal government employees, including military service members, are eligible to participate in The Thrift Savings Plan (TSP), a federal government-sponsored retirement savings and investment plan.  The TSP offers the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans.  The TSP website (TSP.gov) explains the benefits available to TSP participants.  

    If you have a TSP account, you should be aware of fraudulent schemes aimed at TSP investors. 

    Here are a few ways you can protect your account.

    Be cautious if someone you do not know contacts you and tries to convince you to transfer money out of your TSP account.

    Fraudsters may use scare tactics to convince TSP investors to transfer money out of their TSP accounts and into other accounts controlled by the fraudsters.  In some cases, they may direct investors to transfer money from their TSP accounts into self-directed individual retirement accounts.  To learn more about risks of investing through self-directed IRAs — including fraudulent schemes — read this Investor Alert.

    SEC enforcement action.  In SEC v. Red Rock Secured, LLC et al., the SEC charged defendants for engaging in a fraudulent scheme through which they allegedly persuaded hundreds of TSP and other retirement plan investors to sell their existing securities, to transfer the proceeds into a self-directed IRA (SDIRA) account that the defendants helped to establish, and to invest the proceeds in gold or silver coins sold by the defendants.  According to the SEC’s complaint, investors who held securities in retirement accounts such as TSPs, 401(k)s and IRAs were targeted through numerous email campaigns, digital newsletters and advertisements.  The SEC alleges that investors were provided with false and misleading information, including regarding the markups charged on the coins sold, the value of the coins sold, and stock market performance.  As alleged in the SEC’s complaint, most of the proceeds that investors transferred to SDIRAs to purchase “premium” coins went to pay markups, which significantly depleted the investors’ retirement assets.

    Be suspicious if someone offering you an investment claims to be affiliated with the government, the TSP, or government retirement plans.

    The TSP will not contact federal employees about investment opportunities and does not authorize third parties to provide counseling or investment-related services to anyone.  You can confirm whether a seller is affiliated with a government agency by contacting the agency directly or calling the SEC’s toll-free investor assistance line at (800) 732-0330.  To learn more about fraudsters targeting TSP investors while pretending to be affiliated with the federal government, read this Investor Alert. 

    Protect your TSP account (and personal information) from being compromised.

    The TSP website describes the following three steps as well as other ways you can protect money you’ve invested in your TSP account from fraud:

    1. Make sure the contact information and mailing address on your account are correct.
    2. Protect your username, password, and ThriftLine PIN.
    3. Consider using the account lock feature for extra protection.

    If you believe someone else has your My Account login information, you’ve experienced identity theft, or you receive any message about suspicious activity on your TSP account, contact the ThriftLine Service Center immediately.

    If you suspect securities fraud in connection with your TSP investments, you can report it to the SEC using the SEC’s online TCR system.

    Additional Resources

    Investor Alert: Fraudsters May Target Federal Government Employee Retirement Plan Participants

    Investor Alert: Self-Directed IRAs and the Risk of Fraud

    Military webpage on Investor.gov

    Report possible securities fraud to the SEC online at www.sec.gov/tcr.

    Protect your hard earned money – learn more tips on investing wisely and avoiding fraud at Investor.gov.

    Call the SEC’s Office of Investor Education and Advocacy (OIEA) at 1-800-732-0330, ask a question using this online form, or email OIEA at Help@SEC.gov.  Receive Investor Alerts and Bulletins by email or RSS feed.

    Follow OIEA on Twitter @SEC_Investor_Ed. Like OIEA on Facebook at facebook.com/secinvestoreducation.

    MIL OSI USA News

  • MIL-OSI USA: Investor Bulletin: SIPC Protection (Part 2: Filing a SIPC Claim)

    Source: Securities and Exchange Commission

    The SEC’s Office of Investor Education and Advocacy and the Securities Investor Protection Corporation (SIPC) are issuing two Investor Bulletins to help educate investors about SIPC protection for brokerage accounts. The first Investor Bulletin (“SIPC Basics”) will provide investors with an overview of how SIPC protection works and what it protects, and the second Investor Bulletin (“Filing a SIPC claim”) will provide investors with an overview for how to file a SIPC claim.

    If you have an investment account at a SIPC member brokerage firm that closes due to bankruptcy or other financial difficulties, here are some steps to take and issues to consider if you need to file a claim for SIPC protection.

    IMPORTANT: THE CLOSURE OF A SIPC-MEMBER BROKERAGE FIRM MAY NOT REQUIRE A PROTECTION PROCEEDING OR THE FILING OF A CLAIM FOR SIPC PROTECTION.  A CLOSED SIPC MEMBER MAY BE ABLE TO TRANSFER ITS CUSTOMER ACCOUNTS TO ANOTHER SIPC-MEMBER BROKERAGE FIRM WITHOUT THE NEED FOR SIPC’S INTERVENTION.  THE APPROPRIATE REGULATORS WILL MONITOR THESE CLOSURES, AND IF SIPC INITIATES A PROTECTION PROCEEDING TO LIQUIDATE A BROKERAGE FIRM, ITS CUSTOMERS WILL BE NOTIFIED OF THE CLAIMS PROCESS.

    Once I have a securities account with a SIPC member, how does SIPC protection work?

    SIPC initiates a customer protection proceeding

    SIPC protection applies only when a brokerage firm is unable to meet its obligations to customers and has been placed in liquidation under the Securities Investor Protection Act of 1970 (SIPA).  SIPC relies upon regulators such as the SEC or the Financial Industry Regulatory Authority (FINRA) to notify SIPC when customers need its protection.

    When SIPC determines that a brokerage firm (1) has failed or is danger of failing to meet its obligations to customers and (2) meets a specified condition such as insolvency or an inability to meet certain financial responsibility guidelines, SIPC will ask a court to place the brokerage firm into liquidation under SIPA for the protection of its customers and appoint a trustee to oversee the liquidation of its brokerage business.  This date usually is considered the “filing date,” which will be used to value the securities in customer accounts.

    Importantly, SIPC also pays the administrative costs of the liquidation, including attorneys’ fees, if the brokerage firm is insolvent.  This means that even if the brokerage firm lacks funds to pay the costs of the liquidation, the trustee can still process claims, distribute customer property, and recover stolen or fraudulently transferred customer property.

    You must file a claim in the liquidation

    The trustee’s primary goal in the liquidation is the prompt return of customer property to customers.  You will be notified of the liquidation and mailed a claim form, and you must file a timely claim with the trustee.  On the claim form, you should describe, as of the filing date, the cash and securities that are owed to you by the brokerage firm and the cash and securities that you owe to the brokerage firm.

    Customer claims are given two deadlines, each calculated from the date of notice of the commencement of the liquidation is published: If you file a claim within the first deadline (set by the court, usually either 30 or 60 days) and request that the trustee return securities custodied with the broker, the trustee must return the securities unless they are unavailable and cannot be purchased in a fair and orderly market. If you file after the first deadline but within a six-month deadline set under SIPA, the trustee has the option of delivering securities or paying the cash value of the securities as of the filing date, depending upon which is more economical.  Claims filed after the six-month deadline will be denied as untimely, and the customer property is forfeited.  Except for very narrow exceptions inapplicable to most customers, this deadline cannot be extended.

    As the customer, you must establish the validity of your claim and your entitlement to assets.  If possible, you should provide any documents that support your claim, including copies of account statements, trade confirmations, and any relevant correspondence with the brokerage firm.  If needed, the trustee may ask you for more information. The trustee will also have access to the brokerage firm’s books and records and in most cases will be able to use those records to determine what you are owed.

    You may also make a claim for unauthorized trading to recover the property which was the subject of the unauthorized trade.  You must support your claim with evidence that the trade was unauthorized, typically in the form of a timely written complaint to your brokerage firm.  Otherwise, you could be deemed to have accepted the trade.

    The trustee satisfies claims

    Brokerage firms, under regulation by the SEC and FINRA, are required to segregate customer property from the brokerage firm’s business. This means that if a brokerage firm fails, all customer property should be intact, separate from the failed business.  If possible, the trustee in a SIPA liquidation will attempt to bulk transfer customer accounts to a new brokerage firm, and you could have access to your account as quickly as within a week.  While this can be accomplished without you filing a claim, you should still do so in case the transfer does not make your account whole.

    The trustee pools the available customer property custodied with the brokerage,  excluding customer name securities, and distributes it to customers with valid claims on a prorated basis.  Securities are valued as of the filing date.  The trustee may also bring legal actions to recover stolen or fraudulently transferred customer property, for further distribution to customers.  Customer name securities are treated separately and are delivered to the customer in whose name they are registered – i.e., not on a prorated basis – provided that the customer is not indebted to the member.

    • To illustrate, suppose you have a valid claim for shares of Company ABC registered in your name worth $300,000, plus $1,000,000 in securities registered in “street” name.  The trustee recovers 75% of the customer property the brokerage firm owes its customers.  The trustee will deliver to you the shares of Company ABC, assuming the shares are in the broker’s custody, plus $750,000 of customer property, either as securities or cash in lieu of securities, depending on the availability of securities and when you filed your claim.  The shortfall of $250,000 will be satisfied by a SIPC advance.

    SIPC may advance up to $500,000 per customer (including a $250,000 limit on cash in the account) for customer protection.  The benefit of this advance is two-fold.  First, the trustee can use it to accelerate the satisfaction of claims while the trustee gathers and recovers customer property.  Second, if the trustee’s prorated distribution of customer property does not fully satisfy your claim, the advance can be used to restore missing property and cover any shortfall.  To illustrate these limits:

    • Customer A has a valid claim for $400,000 in securities and $200,000 in cash.  SIPC will advance $500,000 for this customer’s protection.  The remaining $100,000 may be distributed as part of Customer A’s prorated share of customer property.
    • Customer B has a valid claim for $200,000 in securities and $400,000 in cash.  SIPC can only advance $450,000 for this customer’s protection: $200,000 for securities and the limit of $250,000 for cash.  The remaining $150,000 may be distributed as part of Customer B’s prorated share of customer property.

    If your customer claim is not fully satisfied by the trustee’s prorated distribution of customer property plus the SIPC advance of up to $500,000, then you will become a general creditor.  The unsatisfied portion of your customer claim becomes an unsecured creditor claim against the general estate (i.e., the unsecured business assets, excluding customer property) of the brokerage firm in liquidation.

    What About Excess SIPC Coverage?

    SIPC’s protection is provided under federal law, and it does not offer any way to purchase additional protection.  Brokerage firms, however, may have insurance policies called “excess SIPC coverage” which apply once SIPC protection is exhausted and may partially cover remaining losses.  Excess SIPC coverage is offered by private insurance carriers to brokerage firms and may operate differently than the protections available under SIPA.  SIPC does not maintain information about excess SIPC coverage or monitor or regulate such offerings.  Questions about excess SIPC coverage should be directed to your brokerage firm.

    Additional Resources

    Investor Bulletin: SIPC Protection (Part 1: SIPC Basics) (https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins-101)

    SIPC Brochure: How SIPC Protects You (https://www.sipc.org/media/brochures/HowSIPCProtectsYou-English-Web.pdf)

    SIPC Brochure: The Investor’s Guide to Brokerage Firm Liquidations (https://www.sipc.org/media/brochures/Liquidations-Web.pdf)

    Investor.gov Glossary: Securities Investor Protection Corporation (https://www.investor.gov/introduction-investing/investing-basics/glossary/securities-investor-protection-corporation-sipc)

    FINRA Investor Alert: If a Brokerage Firm Closes Its Doors (https://www.finra.org/investors/insights/if-brokerage-firm-closes-its-doors)

    FINRA: Your Rights Under SIPC Protection (https://www.finra.org/investors/need-help/your-rights-under-sipc-protection)

    FDIC: Understanding Deposit Insurance (https://www.fdic.gov/resources/deposit-insurance/understanding-deposit-insurance/index.html)

    For more information regarding SIPC, please visit SIPC’s website (www.sipc.org).  If you have any questions regarding SIPC and the protection that it provides, you can email SIPC at asksipc@sipc.org.

    Visit the SEC’s website for individual investors, Investor.gov.

    Call OIEA at 1-800-732-0330, ask a question using this online form, or email us at Help@SEC.gov.

    Receive Investor Alerts and Bulletins from OIEA by email or RSS feed. Follow OIEA on Twitter. Like OIEA on Facebook.

    MIL OSI USA News

  • MIL-OSI Asia-Pac: Union Minister Shri Jyotiraditya M. Scindia addresses press conference to share important decisions and achievements taken by the Department of Posts in the 100 days of the third term of Prime Minister Shri Narendra Modi

    Source: Government of India (2)

    Union Minister Shri Jyotiraditya M. Scindia addresses press conference to share important decisions and achievements taken by the Department of Posts in the 100 days of the third term of Prime Minister Shri Narendra Modi

    15,466 Dak Chaupals conducted nationwide

    3400+ exporters onboarded on Dak Ghar Niryat Kendra

    DIGIPIN pilot completed in 1 town & 10 villages

    Posted On: 23 SEP 2024 8:14PM by PIB Delhi

    Union Minister Shri Jyotiraditya M Scindia along with Minister of State for Communications and Rural Development, Dr. Pemmasani Chandra Sekhar today addressed the media on achievements of the Ministry of Communications (DoT& DoP) and Ministry of Development of Northeastern Region (DONER)in 100 days of the Government in New Delhi. Secretary (Telecom), Secretary (Department of Post), Secretary DONER and senior officials of the ministries were present.

    Speaking at the Conference, Minister Scindia shared that “With the resolve of ‘Dak Sewa, Jan Sewa’ the India Post Department in the last 100 Days has focused on amplifying financial inclusion, incorporating new technology and applying a new approach to policy reforms.”

     

       

    Press Conference at National Media Centre

    The Department of Posts has accomplished significant milestones as part of its 100-day action plan, aimed at enhanced service delivery and operational efficiency for the benefit of the nation. Through a series of strategic initiatives, the Department has not only streamlined its services but also brought essential government schemes and programs closer to citizens, particularly in rural areas. From empowering rural exporters to creating a digital infrastructure for standardized addressing, the Department’s efforts have touched various facets of citizens’ lives. Key objectives such as holding more than 5000 Dak Chaupals, onboarding more than 3000 exporters on Dak Ghar Niryat Kendra, launching DIGIPIN as pilot in 1 town & 10 villages have successfully been completed.

    Details on the above achievements:

    Dak Chaupal: Bringing services to rural doorsteps

    The Dak Chaupal initiative has proven to be a resounding success, with the Department organizing 15,163 Dak Chaupals nationwide, far surpassing the initial expectations. These Chaupals have facilitated vital government services directly at the rural level, engaging over 8.52 lakh citizens, with 44% of participants being women. The Dak Chaupal initiative enabled on-spot account opening, Aadhaar updates, and enrolment in various government schemes like Jan Suraksha, thereby significantly enhancing the accessibility of essential services in rural regions in a manner that actively contributes to the broader goals of “Vittiya Sashakhtikaran and Samaveshan”.

    Utersoo, Srinagar, J&K

    Mandapeta, Rajahmundry
     Andhra Pradesh Circle

     

    Dak Ghar Niryat Kendra (DNK): Boosting rural exports

     

    Under the Dak Ghar Niryat Kendra (DNK) initiative, the Department on-boarded more than 3,400 new exporters to support rural and small-scale exporters. This program, closely aligned with the ‘One District—One Product’ initiative, has provided exporters with services such as market information, documentation support, and paperless customs clearance. By doing so, the DNK has empowered micro-entrepreneurs, artisans, and small businesses to access global markets through postal channels easily. In the past 100 days, over 1.07 lakh shipments were processed under the DNK scheme, resulting in Rs. 8.50 crore in postage revenue and an export value of Rs. 23.01 crore. Additionally, Seven Exporters awareness workshops involving DGFT, MSMEs, Export Promotion Councils, State authorities and exporters were also organized.

     

    Glimpses from the workshop on Dak Ghar Niryat Kendra at Indore

     

     

    Standardized Geo-Coded Addressing System: Revolutionizing service delivery

    The Standardized Geo-Coded Addressing System has also made significant strides with successfully completing a pilot program in 10 villages and 1 town. This initiative aims to establish a digital public infrastructure for a standardized, geo-coded addressing system in India, which can simplify addressing solutions for citizen-centric delivery of public and private services to enable “Address as a Service” (AaaS) in India. This will simplify addressing across India by using automated DIGIPIN allocation using SVAMITVA data and other open-source GIS data. The beta version of DIGIPIN was launched on 19th July 2024, marking a key achievement in developing this system. The Department has forged key partnerships, including an MoU with the National Remote Sensing Centre (ISRO) and the National Institute of Urban Affairs, to further enhance this initiative.

     

    These partnerships aim to leverage advanced technologies and expertise to provide precise mapping and addressing solutions, ultimately revolutionizing service delivery across the country. This grid-based system will be a robust pillar of Geospatial Governance, leading to enhancements in public service delivery, faster emergency response, and a significant boost to logistics efficiency.

     

    The Post Office Act, 2023

     

    The Post Office Act, 2023 came into effect on 18th June 2024, replacing the Indian Post Office Act of 1898. This forward-thinking legislation has modernized the postal system, addressing both contemporary challenges and future needs. By focusing on improving customer experiences and service delivery mechanisms, the new Act positions the Department of Posts to be more responsive to the evolving requirements of citizens, embodying the principle of “Dak Sewa Jan Sewa.” The subordinate legislation, including the Post Office Rules, 2024 and Regulations 2024, are currently in the process of issuance.

     

    Indo-Africa Postal Leaders Meet

     

    Visit to India Post Mail Processing facility in  Mumbai

     

    Delegates at the closing ceremony of the

    India Africa Postal Leaders Meet

    The Indo-Africa Postal Leaders Meet, the first such event, was hosted by India from June 21st to 25th, 2024. It brought together over 50 senior delegates from 22 African countries, alongside representatives from the Universal Postal Union. The event highlighted India’s successful postal service model and underscored the critical role of postal services in financial inclusion and capacity building. It also opened new avenues for collaboration in postal technology and service delivery under the South-South and Triangular Cooperation framework.

    Delegates visit to Dak Chaupal in

    Navi Mumbai  Region

     

    Tracked Packet Service expansion

     

    On the sidelines of the Asia Pacific Postal Union Executive Council meeting in Siem Reap, Cambodia, on 17th Aug 2024, India Post & Thailand Post signed the commercial document for a competitive bilateral exchange of Tracked Packet service between the two countries. This is an important step towards promoting cross border e-commerce exports.

     

     

     

    DBT disbursal to beneficiaries of Mukhyamantri Majhi Ladki Bahin Yojana

     

    The scheme Mukhyamantri Majhi Ladki Bahin, launched by the Maharashtra Government in June 2024, aims to provide financial assistance and empowerment to women in the state and provides for disbursal of Rs.1,500 every month to eligible women, among other benefits. The IPPB has successfully disbursed approximately 465.5 crores in accounts of 15.51 lakh beneficiaries.

     

    MoU between Department of Posts & Khadi and Village Industries Commission

     

    Unit Verification

    A New Memorandum of Understanding was signed between the Department of Posts & Khadi and Village Industries Commission on 20.8.2024 for Physical Verification of the units set up by first-generation entrepreneurs. This verification will facilitate the adjustment of government subsidy to the loan account of beneficiaries under the Prime Minister’s Employment Generation Programme (PMEGP). Around 1.35 lakh PMEGP units will be verified by the end of FY 2024-25. Proof of concept has been completed successfully, and Roll out for the actual Physical Verification process PAN India will start after the completion of training to Officials of the Department of Posts .

     

    Increasing E-Commerce footprint in the NER

     

    In a major boost to its e-commerce operations, the Department entered into a strategic partnership with Amazon on 27th June 2024 to enhance its delivery services across the Northeast Region (NER). Under this collaboration, consignments booked in Guwahati are seamlessly transmitted and delivered by the Department to all states in the region. The range of items being handled includes apparel, household goods, mobile accessories, beauty products, books, toys, appliances, and sporting goods among others. In just the last two months, approximately 35,000 consignments have been successfully booked, generating a revenue of Rs. 31 lakh. This partnership is a significant step towards strengthening the Department’s e-commerce capabilities in the NER, improving access to essential products, and boosting regional connectivity through its extensive postal network.

     

    Leveraging PM Gati Shakti National Master Plan

     

    The Department of Posts has gone live on the National Master Plan (NMP) portal, marking a key step in enhancing infrastructure and operational planning through geospatial technology. The Department now has its own dedicated layer on the NMP, alongside a separate portal embedded within it. Over 1.29 lakh assets of the Department have been mapped on this platform, organized into 14 data layers (4 administrative and 10 thematic) with detailed attributes for optimized decision-making.

    The use of layers and attributes of other Ministries/Departments on NMP and the Department of Posts’ layers by functional divisions/field formations of the Department will be a vital tool for functional divisions of the Department and administrative units for planning postal infrastructure and operations. Possible use cases are (a) visualization of all postal facilities on a single map for more efficient planning, (b) PIN code mapping, (c) route optimization (trucking routes, postmen’s beat), (d) planning outreach programmes for special schemes, (e) estates planning – ownership of land, category of land – forest etc.

     

     

    In consultation with the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry and Bhaskaracharya Institute for Space Applications and Geoinformatics       (BISAG-N), Gandhinagar, an application has also been developed free of cost for the Department of Posts. With this application, additional assets can be mapped on NMP and already mapped assets can be updated so that postal infrastructure data is the latest available data. Circle/Region/Division /Functional Divisions of the Postal Directorate will be able to use the data.

     

     

     

    Under the able guidance of the Hon’ble Minister of Communications Shri Jyotiraditya Scindia, the Department of Posts seeks to enhance citizens’ quality of life and promote inclusive growth and development nationwide through these new initiatives.

     

    *****

    MG/PD/DP

    (Release ID: 2058028) Visitor Counter : 10

    MIL OSI Asia Pacific News

  • MIL-OSI USA: Investor Bulletin: SIPC Protection (Part 1: SIPC Basics)

    Source: Securities and Exchange Commission

    The SEC’s Office of Investor Education and Advocacy and the Securities Investor Protection Corporation (SIPC) are issuing two Investor Bulletins to help educate investors about SIPC protection for brokerage accounts. The first Investor Bulletin (“SIPC Basics”) will provide investors with an overview of how SIPC protection works and what it protects, and the second Investor Bulletin (“Filing a SIPC claim”) will provide investors with an overview for how to file a SIPC claim.

    What is SIPC protection?

    When you open a brokerage account with a SIPC member brokerage firm, SIPC protection helps address your risk of losing your securities and cash held by the firm if it fails or goes out of business.  If a SIPC member brokerage firm fails, SIPC protects its customers against the loss of securities and cash deposited with the SIPC member firm for the purchase of securities.  SIPC protection advances funds of up to $500,000 per customer (including a $250,000 limit for cash claims) to cover a shortfall in customer property. We will discuss how this protection works in more detail below. 

    Who are SIPC member brokerage firms?

    SIPC member brokerage firms are, with narrow exceptions, all securities broker-dealers registered with the SEC.  SIPC members pay annual membership assessments which are used to fund SIPC and its mission.

    Most registered brokerage firms which conduct business with the investing public are SIPC members. SIPC member brokerage firms must state that they are SIPC members in their offices and on their webpage and advertisements.  The narrow exceptions to SIPC membership include brokerage firms whose exclusive business involves selling specific products, like registered open-end mutual funds or variable annuities.  Brokerage firms that are not SIPC members must disclose this fact to customers before or at the time of conducting any securities transactions in a customer’s account.

    A SIPC member’s affiliate, including a parent company or subsidiary, is a separate legal entity and not a member of SIPC unless independently registered.  Accordingly, customers of a foreign subsidiary of a SIPC member firm are not protected by SIPC if the foreign subsidiary fails.

    SIPC members include both introducing brokers and clearing brokers.  The different broker roles create an important difference in how SIPC protection might apply.  An introducing broker generally is a client-facing brokerage firm which interacts with the customer and takes customer orders.  The clearing broker works on the back end, executing customer trades, holding custody of customer property, and issuing statements and confirmations.  Because SIPC protects against losses caused by the failure of a brokerage firm to maintain custody of customer accounts, the failure of an introducing broker may not require SIPC protection. Customer property should be safely held by the clearing broker, which will usually locate a new introducing broker to service the accounts.

    Who are customers?

    In general, you are a customer if you have an investment account with a SIPC-member brokerage firm or have deposited cash with a SIPC-member brokerage firm, for the purpose of purchasing securities.  You do not need to be a U.S. citizen to qualify as a customer.  SIPC protection of customers with multiple accounts is determined by “separate customer” capacity.

    Some of examples of separate capacities include:

    • An individual account;
    • a joint account;
    • a traditional individual retirement account;
    • a Roth individual retirement account;
    • an account for a trust created under state law;
    • an account for a corporation; and
    • an account held by a guardian for a minor.

    Additional information on separate accounts may be found in SIPC’s Series 100 Rules.

    Each separate capacity is treated as a unique customer and protected up to $500,000 for securities and cash (including a $250,000 limit for cash only). Accounts held in the same capacity are combined for purposes of the SIPC protection limits.  Here are some examples to illustrate how SIPC protection limits apply to investors with multiple accounts:

    Example 1:

    Sally has a brokerage account in her name at her brokerage firm.

    SIPC Protection Limit

    Sally has SIPC protection up to $500,000 for her brokerage account.

    Example 2:

    Tim has two brokerage accounts, each in his name, at the same brokerage firm.

    SIPC Protection Limit

    For purposes of SIPC protection, Tim’s accounts are combined. Tim does not have SIPC protection of $500,000 for each account, but has a total of $500,000 SIPC protection for both accounts.

    Example 3:

    Tim and Sally are married and they have a joint brokerage account, in addition to the individual brokerage accounts they each have at the brokerage firm.

    SIPC Protection Limit

    This joint brokerage account of Tim and Sally would have SIPC protection of $500,000, in addition to the SIPC protections of $500,000 that Sally and Tim have for their individual brokerage accounts discussed in Examples 1 and 2.

    Example 4:

    Tim also has a traditional IRA and a Roth IRA at the same brokerage firm.

    SIPC Protection Limit

    In addition to the other SIPC protections in the above examples, each of these IRA accounts would receive up to $500,000 in SIPC protection.

    What is protected?

    SIPC works to return “customer property,” generally meaning customer securities and related cash held by a SIPC-member brokerage firm.  Protected securities include notes; stocks; Treasuries; bonds; CDs; options on securities; investment company shares such as mutual funds, ETFs, and money market funds; and investment contracts that are registered with the SEC under the Securities Act of 1933.

    A brokerage firm may hold your securities as either “customer name securities” – directly registered in your name in a non-negotiable form – or street name securities – owned by you on the brokerage firm’s books and records but registered in the brokerage firm’s name.  Both customer name and “street” name securities are protected by SIPC, although, as discussed below, the registration method affects how the securities are returned to you. 

    Protected securities do not include commodities (such as gold or silver) or futures contracts, unregistered investment contracts, unregistered limited partnerships, fixed annuity contracts, or most types of crypto assets. For additional information on the types of securities SIPC protects, see SIPC’s “What SIPC Protects” webpage (https://www.sipc.org/for-investors/what-sipc-protects).

    In recent years, certain securities have been issued and/or transferred using blockchain or distributed ledger technology, i.e., a crypto asset security.  At this time, many of the crypto asset securities that have been issued may be investment contracts and very few of them are registered in compliance with the federal securities laws.  As noted above, under SIPA an investment contract must be registered with the Commission under the Securities Act of 1933 in order to be a protected security, regardless of whether it is a crypto asset security.

    Cash held in the account for the purpose of purchasing securities is also protected.  Cash placed in the account solely for the purpose of earning interest, however, is not protected.  Investments in currency, such as foreign exchange trading positions, also are not protected.

    What SIPC Does Not Protect

    SIPC protection works to restore to customers the cash and securities that were in their brokerage account when the SIPC-member brokerage firm failed. SIPC protection:

    • does not protect you against the decline in value of your securities
    • does not protect you against non-custody related fraud or misrepresentations such as being sold worthless stock or other securities. (SIPC protection may apply to the fraudulent transfer of your securities)
    • does not protect against losses due to a broker’s bad investment advice or recommendations for inappropriate investments, or for claims that a broker you authorized to buy or sell securities in your account did so in a way that was inconsistent with your overall investment objectives. 
    • does not provide protection for claims of churning – that your broker engaged in excessive trading to generate commissions.
    • does not protect assets held outside of a SIPC-member brokerage firm, even if such assets are reported on an account statement

    Brokerage firms may offer you different options for managing cash in your account.  SIPC provides protection for two common cash management options: either simply leaving the cash in your brokerage account to invest it or placing it in a money market fund (which qualifies as a security for SIPC protection purposes).  Another option offered by some brokerage firms is a bank sweep program.  In a bank sweep program, your brokerage firm automatically transfers (or “sweeps”) unused cash from your brokerage account into a bank account.  There, the cash is protected under banking laws and may be insured within limits by the Federal Deposit Insurance Corporation (FDIC).  Since cash in a bank sweep program is held outside of the brokerage firm, SIPC would not protect these funds if your brokerage firm fails.

    How do I obtain SIPC protection?

    You become eligible to receive SIPC protection simply by becoming a securities customer of a SIPC member brokerage firm.  You do not need to pay additional fees for SIPC protection.  

    What should I do to protect myself?

    Outside of the liquidation of a SIPC member, SIPC cannot intervene to satisfy claims or offer protection when a brokerage firm is still viable.  SIPC is not a regulator, and it has no authority to investigate active brokerage firms and does not have access to account records.  Accordingly, you should be vigilant and take steps when investing through a brokerage firm to protect yourself and maximize your protection should your brokerage firm be liquidated. 

    First, you should verify that you have invested with a SIPC member brokerage firm.  You can find a list of SIPC members on SIPC’s website (https://www.sipc.org/list-of-members/), and you can research registered brokerage firms using BrokerCheck, a service provided by FINRA (https://brokercheck.finra.org/).  You should further ensure that all deposits or transfers are directed to the SIPC member (or a SIPC-member clearing broker) and not to an individual representative or affiliate.

    You should carefully review your account statements and trade confirmations.  Any discrepancies should be brought promptly to the brokerage firm’s attention in writing.  Of particular importance, you should submit a written complaint to your introducing brokerage firm if you notice any unauthorized trading.  The failure to file a complaint about an unauthorized trade may result in the trade being “ratified” – meaning that you are deemed to have accepted and authorized the trade.  If you have any complaint about your account, you should first contact the brokerage firm and see if it can resolve the complaint.  If not, you should contact the SEC, FINRA, or your state securities regulator, documenting any complaints.

    Additional Resources

    Investor Bulletin: SIPC Protection (Part 2: Filing a SIPC Claim) (https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins-102)

    SIPC Brochure: How SIPC Protects You (https://www.sipc.org/media/brochures/HowSIPCProtectsYou-English-Web.pdf)

    SIPC Brochure: The Investor’s Guide to Brokerage Firm Liquidations (https://www.sipc.org/media/brochures/Liquidations-Web.pdf)

    Investor.gov Glossary: Securities Investor Protection Corporation (https://www.investor.gov/introduction-investing/investing-basics/glossary/securities-investor-protection-corporation-sipc)

    FINRA Investor Alert: If a Brokerage Firm Closes Its Doors (https://www.finra.org/investors/insights/if-brokerage-firm-closes-its-doors)

    FINRA: Your Rights Under SIPC Protection (https://www.finra.org/investors/need-help/your-rights-under-sipc-protection)

    FDIC: Understanding Deposit Insurance (https://www.fdic.gov/resources/deposit-insurance/understanding-deposit-insurance/index.html)

    For more information regarding SIPC, please visit SIPC’s website (www.sipc.org).  If you have any questions regarding SIPC and the protection that it provides, you can email SIPC at asksipc@sipc.org.

    Visit the SEC’s website for individual investors, Investor.gov.

    Call OIEA at 1-800-732-0330, ask a question using this online form, or email us at Help@SEC.gov.

    Receive Investor Alerts and Bulletins from OIEA by email or RSS feed. Follow OIEA on Twitter. Like OIEA on Facebook.


    This Investor Alert represents the views of the staff of the Office of Investor Education and Advocacy. It is not a rule, regulation, or statement of the Securities and Exchange Commission (“Commission”). The Commission has neither approved nor disapproved its content. This Alert, like all staff statements, has no legal force or effect: it does not alter or amend applicable law, and it creates no new or additional obligations for any person.

    MIL OSI USA News

  • MIL-OSI USA: Deputy Administrator Isobel Coleman at the United Nations Development Program Event “Mobilizing Africa’s Sixth Region: Helping Educate and Skill Africa for the 21st Century”

    Source: USAID

    DEPUTY ADMINISTRATOR ISOBEL COLEMAN: Good afternoon. Thank you to our colleagues at UNDP for bringing us together today, and to our partners joining the discussion. 

    It’s a pleasure to be with you as we explore the promise of African-led innovation in education, technology, and entrepreneurship to drive global progress.

    All of us here today know that the African continent is a powerhouse of promise. This year, the continent is poised to be the world’s second fastest-growing region – Africa is home to 12 of the 20 fastest growing economies on the planet. 

    The African continent also boasts an exceptionally young and growing population, with 60 percent of its inhabitants under the age of 25, and by 2040, Africa will have the largest workforce in the world – larger than China and India combined.

    If we are going to achieve the SDGs and build the peaceful and prosperous world we all seek to advance, we must invest in harnessing that enormous potential. 

    This past March, I visited Atlanta to take part in the Phambili Trade and Innovation Event. While in Atlanta, I started discussing with Helene Gayle, the President of Spellman college, the potential for connecting American Historically Black Colleges and Universities, or HBCUs, with universities and colleges in Africa – harnessing cultural ties, and connecting young people pursuing careers in STEM on both sides of the world, empowering the next generation of students that could develop relationships and trade between the continent and the United States. 

    Since then, USAID has been in conversation with Spellman and other HBCUs about making this idea a reality, starting with one class that could count toward the HBCU students’ college degrees. 

    The idea blossomed, and in May of this year, USAID officially announced the launch of this program during the official visit of Kenyan President Ruto to the United States.

    EdTech Africa will pilot in Kenya featuring a select cohort of students from two to three HBCUs in the United States – Howard University and the Atlanta University Consortium – and three Kenyan Universities – University of Nairobi, University of Embu, and the Open University of Kenya – focusing on data science.

    In addition to academic coursework, the partnership will provide workforce development training in association which will require a collaborative project as a capstone to the class. 

    They will also participate in an entrepreneurship bootcamp in Atlanta sponsored by Mastercard and project based work sponsored by Microsoft at their Microsoft Africa Research Institute in Nairobi. 

    This hands-on approach will equip students with the skills and knowledge needed to succeed in today’s competitive job market. 

    This is just the first partnership under EdTech Africa that will develop enduring connections with industry and between African and U.S. institutions focused on technology research and development and private-sector job growth. 

    The EdTech Africa initiative is poised to make a significant impact at a time when Africa is experiencing rapid digital transformation characterized by technological advancements, increased connectivity, and emerging job opportunities. 

    To thrive in this new digital landscape, a safe and secure ecosystem is essential, and the EdTech Africa initiative will contribute to building such an environment. 

    The United States is eager to partner with Africa to uplift the next generation of innovative, African-led solutions – helping generate broadly shared opportunity and prosperity that benefits families and communities across the continent, and sustainable growth that benefits economies across the world. 

    These are just a few of the ways USAID is investing in Africa’s future. 

    But we know our work is not done. 

    The African continent is teeming with potential to drive the next generation of global progress, and now, it’s up to all of us – governments, partner countries, UN organizations, and the private sector – to invest in that potential.

    Thank you.

    MIL OSI USA News

  • MIL-OSI Asia-Pac: Swachhata Hi Seva 2024 Campaign Kicks Off at Ministry of Ports, Shipping & Waterways

    Source: Government of India (2)

    Swachhata Hi Seva 2024 Campaign Kicks Off at Ministry of Ports, Shipping & Waterways

    Secretary Shri T.K. Ramachandran Leads Over 400 Officials in Swachhata Pledge

    Massive Participation in Cleanliness Drives, Eco-Tourism Activities, and Health Camps for Safai Mitras

    Posted On: 23 SEP 2024 6:48PM by PIB Delhi

    Today, Secretary of Ministry of Ports, Shipping & Waterways, Shri T.K. Ramchandran, led over 400 senior officials and staff members in taking the Swachhata Pledge and making cleanliness a way of life. The Ministry of Ports, Shipping & Waterways, along with its all associated organizations, has launched the Swachhata Hi Seva (SHS) 2024 Campaign from 17th September to 2nd October 2024. The campaign is part of a national movement to promote cleanliness under the theme ‘Swabhav Swachhata – Sanskaar Swachhata.’

     

    As part of SHS 2024 campaign, Organizations under the Ministry are undertaking various activities covering all three pillars of the Campaign with participation of officials, students, citizens, NGOs and stakeholders. Mass plantation drive has been initiated by the Organizations carrying forward the message of “Ek Ped Maa Ke Naam”. Several other activities promoting environmental protection measures and eco-tourism theme are also being undertaken. Beach cleaning, cleaning of nearby areas, cleaning of dock areas, street plays, competitions and marathons promoting the theme of Swachhata are being focussed by the Organizations as part of SHS 2024.  Health and welfare camps for Safai Mitras for preventive health care and linkages with various welfare schemes of Government are also being organized.

     

    NB/AK

    *****

    (Release ID: 2057986) Visitor Counter : 95

    MIL OSI Asia Pacific News

  • MIL-OSI USA: Transcript: Fireside Chat on Gun Violence Prevention

    Source: US State of New York

    Earlier today, Governor Kathy Hochul participated in a Clinton Global Initiative fireside chat on gun violence prevention.

    VIDEO: The event is available to stream on YouTube here and TV quality video is available here (h.264, mp4).

    AUDIO: The Governor’s remarks are available in audio form here.

    PHOTOS: The Governor’s Flickr page has photos of the event here.

    A rush transcript of the Governor’s remarks is available below:

    Gabriel Arana, Texas Observer Former Editor-in-Chief: So the issue we are about to talk about, gun violence, is urgent, complex, and multifaceted. Before we jump into some of the solutions and approaches you’ve taken in New York, I’d like to talk to you about how you’ve addressed the issue here. First to start out I’d like to talk about one of the countless tragedies that has befallen our state. The May 2022, mass shooting at a grocery store in Buffalo, your hometown. Tell me what that was like and what actions you’ve taken as a result.

    Governor Hochul: Well, it was the most horrific event in Buffalo’s history and that was ten minutes from where I live. That was an area I’ve been to so many times. I knew the people. And to have an individual who was radicalized online, which again is another topic, but really important as to how people are developing these horrible, horrible thoughts. And his intent was to replicate the shooting in New Zealand just a few years before. So he learned how to do it online is the point.

    He was able to walk into a store on his 18th birthday and to be able to buy an AK-47. Okay? Buy it. Go over to Pennsylvania where they have different laws and a magazine enhancer so he could have the highest number of casualties possible. And what he did was he looked geographically to find the largest black population closest to him. It was 3 hours and 10 minutes to Buffalo, it would have been 3 hours and 20 minutes to Brooklyn. Or to, to the Bronx. So he was trying to find a population that he intentionally wanted to slaughter. He scoped out the location. He knew where he was going. And when I went there and saw the scene of that massacre and held weeping families and hugging them and just trying to give some comfort to them, I knew I had to do something in that moment. Dramatic. And change the whole dynamic, change every law I could in the State of New York. And that has been an inspiration to me, to know that can happen in an innocent place. A sunny day in May, where people are shopping for groceries, including a dad who is buying a birthday cake for his little girl’s third birthday that he never got to see. I’ve held that little girl. And this just tears at you. At a very human level.

    And all of us in government – we shouldn’t have to wait to have the kind of slaughter I saw in Buffalo or you experienced in covering Uvalde, and other people have day after day to a point where my fear is that people become desensitized to this and they don’t have that shock and that sense of urgency to do something. I don’t ever want to get to that place in this country because it would be a sad commentary on how far we’ve fallen.

    Gabriel Arana, Texas Observer Former Editor-in-Chief: In the last few years, more than 20 states including New York, have passed new laws restricting how people can buy and carry guns but we’re seeing data that indicates there’s a thriving underground market for guns. Can you talk about the 2022 Interstate Task Force to stop the illegal trafficking of guns?

    Governor Hochul: When I took office three years ago, we were in the throes of a major crime wave nationwide, not just New York. It was a nationwide phenomena. And my husband was the United States Attorney for Barack Obama. And I saw how collaboration can help and eradicate crime. And I thought, why don’t we harness the power of not just New York State, but all of our neighbors? Because 80 percent of the guns in New York come from out of state. We don’t manufacture them. So there is a pipeline that’s bringing these guns right to the streets of New York, and we have to stop that.

    So I reached out to other Governors. We had nine at first. We now have 12 states that are all contiguous. And if we’re sharing data, identifying perpetrators, stopping them at the border, we can stop the flow of illegal guns from coming into our state. And the numbers have been incredibly successful.

    The number of gunned addictions about 9,500. We’ve taken 10,000 guns off the streets. These are numbers that were just escalating year after year until someone finally says, “We’re gonna work together. I’ll put the resources behind it.” We have spent over 800 million directly on gun interdiction measures and another billion dollars to help support our local communities for the gun violence disrupter program. So combined almost $2 billion into in three years to say no more, no more slaughter in my state.

    Gabriel Arana, Texas Observer Former Editor-in-Chief: Following our conversation here I’m going to dive in with our panelists on community based solutions and approaches that they’re doing on the ground throughout the country. We know that these solutions from the communities themselves are promising toward reducing gun related injuries and killings. In a similar vein from your perch what do you see as promising solutions and approaches to the issue?

    Governor Hochul: It does absolutely come down to engaging the community. They’re the ones who are victimized. They’re the ones who often see perpetrators. They’re the ones who have evidence that can come forward.

    But also, how do we change the hearts and minds of particularly young men? Young kids in these neighborhoods who think that the only alternative they have is to be part of a gang because they’re not getting the love and nurture they need at home. This becomes their family. And that is what’s so tragic about this.

    But, what you can do with these violence disruptor programs, and we funded so many of them, all across the state – is that oftentimes these might be former gang members, these are people who’ve been involved with the law. And so they’re the ones who have the story to say, don’t make the same mistake I did. And if we fund them and increase the number of them in every community, they are making a real difference. So I’m going to continue focusing on not just the law enforcement side, which has been quite extraordinary.

    And back to changing our laws, the Supreme Court of the United States struck down a law that we had on the books for over 100 years. A concealed carry law that says you should not be able to walk into this venue right now with a gun in your pocket, go on our subways, walk around Times Square. And the Supreme Court took that power away from me as the Governor of New York to protect my citizens. And I said, the next day, we’re fighting back. We’re going to structure a different law. We’ll go right up to the line. to where we can go and now we’ve identified sensitive locations, which is a large part of New York where you cannot carry a gun, including Times Square and houses of worship and other places. So I had to come around and do an end run basically around what the Supreme Court was trying to do, taking away my rights.

    So the violence disruptor programs, the massive funding into law enforcement, the community policing, the interdiction at the borders with our consortium is making a difference to a point where our murders are down almost to the 1960s levels, which is extraordinary. In one year, we had, in 1990, we had 2,600 murders in the State of New York. We’re trending to be about 350 this year. Look at the difference in that. It’s gone. Shootings are down 47 percent since I became Governor because we had an intentional strategy that said, “We’re not going to lose any more lives senselessly to guns.”

    And again the laws are so important the laws that we have on the books – the red flag laws. We had about 1,300 Extreme Risk Protection Orders – when you identify someone who shows a propensity to do harm to themselves or to others, someone sees that red flag – a school counselor, a family member, a, law enforcement, a principal, a teacher, someone’s seeing this behavior, someone’s watching it. And they don’t think they have the power to do something about it. But we said, “You do have the power.” And by changing the law to say you are required to notify the authorities so they can identify whether they have access to a gun, we have had a 1,300 percent increase in the number of Extreme Risk Protection Orders where other states aren’t doing anything.

    And I need to, this should be a national policy. This should be a national policy passed by Congress because we have taken guns out of the hands that we know from people that could do harm to others before there’s a tragedy that happens. This is what smart policies are all about. Getting there before you have to go to another funeral of a child. And that’s what I want to continue doing here in New York. And I hope other states will follow suit.

    Gabriel Arana, Texas Observer Former Editor-in-Chief: The Supreme Court stands poised to knock down any legislation, attempts to legislate the gun violence epidemic. You mentioned going right up to the line. What is that line? What can you do? What can’t you do?

    Governor Hochul: We weren’t allowed to ban concealed carry weapons, but I put in place more restrictions on who can apply for them. We are able to look at your social media. That’s where people are telegraphing what they’re going to do. That was our Buffalo killer. It was all out there on social media. It’s often out there. People are telegraphing what they’re going to do. And if you can’t be aware of that and you can’t see what’s out there about them, then you’re not protecting yourself or society.

    My number one job as Governor of the State is to protect our citizens. Full stop. And this is part of that strategy. So we made – we have more requirements on background checks. Our background checks are very strong, but even if someone is able to secure a concealed weapon permit and many of them are legitimate, there’s people in security and there are legitimate purposes that I will agree with, but it’s time, place and manner.

    And again, I don’t want them on the streets of New York. I don’t think that’s appropriate. I don’t think it should be in a schoolyard. That’s not appropriate. A playground. So many places, they don’t make that. So we went right, when they said, I can’t ban them, I said, but they threw some words about sensitive places and I define sensitive places in New York and our law is holding, so far.

    Gabriel Arana, Texas Observer Former Editor-in-Chief: You mentioned violence diversion programs. What’s entailed in these programs?

    Governor Hochul: We fund an enormous number of these. We know the neighborhoods where they need them. These are individuals who – community based organizations, SNUG is one of them. It’s just “guns” spelled backwards.

    It’s one I was familiar with in Buffalo, New York. Like I said, I was – I have a family member in law enforcement, a prosecutor, and I saw the power of these organizations when they got together. I did a lot of events with them. We announced a lot of funding for them all over the state. And what they do is, they develop relationships.

    They intervene because if a young person has a strong role model at home, both parents, one parent, grandparents, someone that’s taking care of them and watching them and knows where they are after school and keep an eye on them. There’s not likely to be a problem, but that’s not the reality for so many families in so many of our communities.

    The parents have to work, the mom has to work, and there’s no one there after school. And this is where the temptation is great to find alternatives. These members, like I said, many of them have done time themselves. They can speak truth to what they saw. They’re credible messengers that are the only ones who can break through and make a difference.

    And they’ve been successful and I’ll keep supporting them over and over again as part of a holistic strategy. But another part of that strategy deals with mental health. We have seen the radicalization of people on social media, but also our teenagers are – many of them are despairing. And I’ve seen this because I’ve convened countless roundtables with teenagers over the last year as I look at social media, the effect it has on their well being, how they feel about themselves, and also cell phones in schools.

    This is an issue I’m looking intensely at because kids are spiraling. They’re not paying attention in class. They’re being bullied all day long. They don’t have a break from it. And one young woman said to me at one of our forums, “You have to save us from ourselves. You have to help us. You have to stand up and say we shouldn’t be doing this because we can’t do it alone.”

    So that’s only tangentially related to gun violence, but it also goes to the psychology of people. And if we’re not helping children and teenagers be healthy now, what are we supposed to expect from them when they turn to adults? We’re supposed to not just raise children, but raise adults who are healthy and fully functioning and have human connections that they’re being denied right now. The way this device has taken over their lives.

    Gabriel Arana, Texas Observer Former Editor-in-Chief: I have to wrap up here. But one more question. If there’s one key message that you’d the audience here, to walk away with, what would it be?

    Governor Hochul: We have seen in New York State, that leadership that is committed to ensuring that you look at all the levers at our disposal, the platforms we have, the ability to change.

    There are ways that we can stop gun violence in this country. We can be like the other countries who are gathering in our city right now that don’t know a fraction of the shootings we have. It’s accessibility to guns. I continue to call on Congress to do the right thing and reinstate the ban on assault weapons that was so effective for an entire decade until it was repealed.

    That’s number one. Call on other states to do as we’ve done with the red flag law. Just pass what we did here in New York and you could have prevented so many of the mass shootings. Every time you look at and analyze the social media and the footprint that’s out there for these shooters, it’s always telegraphed in advance.

    You can – and they – and there’s always someone who says, “Yeah, I thought that kid was – Something wrong was there.” The evidence is there. We have to give people the responsibility to report it to law enforcement. Let them get the order of protection. And let’s start protecting people. That’s what this is all about.

    I would say, don’t give up hope. The situation is dire. It is spiraling. One more mass shooting on the news is just making us sick and it’s taking us to a dark place, but it does not have to be that way. I reject the notion that this has to be our destiny. There are policies out there that are working.

    Otherwise, how do we cut shootings down 47 percent? This is all since I’ve been Governor in just a few years. Look at the impact that we have had here in the State of New York. I want every state to be just like that. And then we start reclaiming our kids and our safety and the mental health that we need to know that we are safe in our country.

    Gabriel Arana, Texas Observer Former Editor-in-Chief: Governor Hochul, thank you so much for being here.

    MIL OSI USA News

  • MIL-OSI USA: DoD Commits $500 Million for Women’s Health Research, Supports Better Care for All Women

    Source: United States Department of Defense

    The Department of Defense (DoD) is working to ensure that research conducted across the Department addresses health disparities faced by women, including conditions that affect women uniquely, disproportionately, or differently. As part of the Department’s broader efforts to support the health of women Service members, veterans, and beneficiaries (such as spouses and dependents) to enhance the medical readiness of the force—and consistent with the President’s Executive Order on Advancing Women’s Health Research and Innovation—DoD is publicly announcing a series of new actions and commitments to advance women’s health research by:

    • Spending half a billion dollars each year on women’s health research, primarily through the Congressionally Directed Medical Research Programs (CDMRP);
    • Adopting a new research policy to ensure that women’s health is considered during every step of the research process that will apply to relevant research funded through the CDMRP beginning on October 1, 2024;
    • Standardizing CDMRP and Military Health System Research funding opportunity announcements to encourage applicants to consider research on health areas and conditions that affect women; and
    • Committing DoD’s Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer (STTR) program to increase its investments in supporting innovators and early-stage small businesses engaged in research and development on women’s health.

    These new announcements build on recent work that DoD has already done to advance women’s health research—including the establishment of a joint collaborative to improve women’s health research with the Department of Veterans Affairs (VA), DoD’s new Military Women’s Health Research Program, and the appointment of Dr. Lynette Hamlin as the first-ever dedicated Director of the Military Women’s Health Research Program at the Uniformed Services University of Health Sciences—as well as DoD’s prior investments in women’s health research.

    Investing in women’s health research and evidence-based care is critical to meeting the health care needs of the women served by DoD. The DoD provides medical care to more than 230,000 active-duty Service women, nearly 2 million women military retirees, and to the family members of the active force and of retirees. Compared to men, this population experiences more than twice the rate of conditions in hematological, genitourinary, endocrine, nutrition, and immunity-related disorder categories. Additionally, women’s rates for illness and injury-specific diagnoses, such as those associated with the musculoskeletal system and connective tissue, are more than 1.5 times those of male rates. DoD’s systematic surveillance and research of health conditions among Service women at a population level will bolster treatment options, improve patient care, and support breakthrough technologies and resources for women inside and outside of the military health system. Information on specific DoD policy efforts can be found below.

    Congressionally Directed Medical Research Programs
    CDMRP funds a wide variety of specialized health research areas that affect women, such as Alzheimer’s disease, multiple sclerosis, lupus, orthopedic and musculoskeletal injuries, and various cancers. In Fiscal Year (FY) 2022 and FY 2023, CDMRP funded 751 grants, produced 625 studies, and supported 706 researchers. For FY 2024, depending on the applications received, DoD anticipates investing more CDMRP funding for women’s health research than in previous years. These funds will be used to support research on topics such as rheumatoid arthritis, chronic fatigue, eating disorders, and gynecological cancers.

    In addition to this new commitment, DoD adopted a new policy that will require researchers interested in CDMRP funding to consider sex as a biological variable in study design and analysis. Intentional consideration of biological variables, like sex, in medical research improves our understanding of health and disease in men and women. Under the new policy, CDMRP-funded research must consider the known and potential sex differences in disease prevalence, presentation, and outcomes. Peer and programmatic panels will review applications for how sex as a biological variable is incorporated into the proposed research and data analysis plans.

    This new policy aligns with a similar policy adopted by the National Institutes of Health and will take effect on October 1, 2024. The new policy will apply to applications submitted for FY 2025 CDMRP funding opportunities, contingent on FY 2025 funding for CDMRP-managed programs. White House and DoD officials highlighted this change at DoD’s 2024 Military Health System Research Symposium, the Department’s premier scientific meeting.

    Accounting for Women’s Health Across DoD’s Research Programs and Processes
    DoD has taken action to ensure that women’s health is considered throughout the research application process. For instance, the CDMRP, the Uniformed Services University of Health Sciences (USUHS), and the Military Health System Research Program have all included standardized language in their FY 2024 funding opportunity announcements to encourage research on women’s health, including consideration of sex as a biological variable and its relationship to socioeconomic factors in affecting health outcomes. Additionally, for these programs, DoD has implemented policies to ensure that reviewers consider women’s health when evaluating research proposals, where appropriate.

    Uniformed Services University of Health Sciences
    The USUHS established the Military Women’s Health Research Program (MWHRP) in 2023, under the leadership of Dr. Lynette Hamlin, the program’s inaugural Director. The MWHRP funds $1.67 million in research grants annually, sponsors publications and webinars to share important research findings, and encourages women to participate in the SBIR program and the STTR program. Over the last five years, USUHS has sponsored 76 grants, and produced 32 presentations and 152 publications specific to women’s health research.

    USUHS also established the Military Women’s Health Research Consortium to develop and guide best practices for the clinical care of women in the Military Health System. Recent research focus areas include studying interventions for physical and emotional pain due to uterine fibroids, evaluating treatment options for women with low back pain, and studying the effects of prenatal mental health support.

    Defense Health Program Small Business Innovation Research and Small Business Technology Transfer Programs
    The Defense Health Agency (DHA) SBIR and STTR programs are statutorily required programs established to increase the participation of small businesses in federal research and development. These programs enable DHA to spark the development of future technologies to improve warfighter health and survival. DHA SBIR and STTR revised the DoD Broad Agency Announcement (BAA), the funding mechanism utilized for these programs, to encourage participation in innovation and entrepreneurship by women. Additionally, to enhance investments in applied research and practice focused on women’s health, SBIR and STTR have requested women’s health research topics from stakeholders as part of the FY 2025 BAA development process.

    DoD/VA Women’s Health Research Collaborative
    To further our collaboration and partnership with the VA, the joint DoD/VA Health Executive Committee established a Women’s Health Research Collaborative in 2024, which will explore opportunities to promote joint efforts to advance women’s health research and improve evidence-based care for the women they serve: Service members, veterans, and their spouses, surviving spouses, dependents, and family caregivers. Additionally, the Collaborative will increase coordination with the goal of improving care and care delivery across the lifespan of women Service members, veterans, and other beneficiaries. The Collaborative will also advance research on key women’s health issues and develop a roadmap to close pressing research gaps, including those specifically affecting Service women and women veterans.

    Moreover, the Department ensures our providers are trained in gender-specific care. Through the DoD/VA Women’s Health Working Group, two mini-residencies are held annually to build provider proficiency. The DoD/VA Women’s Musculoskeletal Mini-Residency and DoD/VA Women’s Mental Health Mini-Residency offer health care providers, from both departments, opportunities to learn about the latest research while strengthening skills and knowledge in how to assess, diagnose, and treat women Service members, veterans, and other beneficiaries.

    The DoD/VA also developed a Women’s Midlife Health Concerns Working Group to develop a needs assessment tool that will be deployed to women Service members, veterans, and other beneficiaries to gather their input on their midlife health concerns, including menopause and cardiovascular health. This group will make recommendations and develop tools to build provider proficiency in appropriately assessing and treating midlife health concerns.

    Additional DoD actions to support the health needs of women Service members, retirees, and their eligible family members include the establishment of the Women’s Midlife Telehealth Clinic – the first U.S.-based study examining birth outcomes between births attended by Certified Nurse Midwives and physicians focused on births within the MHS – and the provision of world-class cancer care and translational research at the Murtha Cancer Center at Walter Reed Gynecological Cancer Center of Excellence.

    MIL OSI USA News

  • MIL-OSI USA: ICYMI: Panasonic Plant Could Revolutionize Region’s Economy – Governor of the State of Kansas

    Source: US State of Kansas

    KEY QUOTE: “For Gov. Kelly, the impact of the Panasonic project is huge and ongoing. “It already has changed Kansas’s perception of itself – the fact that we were able to attract a business like Panasonic,” Kelly said. “People out in Hays are fully aware this is happening. They have a sense of pride and anticipate what else is to come,” the governor said.

    Panasonic Plant Could ‘Revolutionize Region’s Economy’
    Martin Rosenberg, Flatland KC
    Sept. 19, 2024

    • Laura Kelly of Kansas believes the opening of the $4 billion electric car battery manufacturing plant in DeSoto early next year will revolutionize the region’s economy, lifestyle and self-image.
    • “The overall impact of this is just truly transformational,” Kelly said of the massive 4.7 million square foot Panasonic plant nearing completion. “The northeast quadrant of our state will look very different and feel very different,” the governor said.
    • The good news is undeniable. Allan Swan, president of Panasonic Energy of North America, in June said the DeSoto plant, “will be the largest battery manufacturing plant in the world.”
    • For Kelly, Panasonic’s arrival is the capstone of [nearly] $20 billion in new capital investment in the state made on her watch as governor coming from 1,300 economic development wins.
    • The jobs Panasonic is creating will lead to further significant job growth. “We expect suppliers to set up shop. We expect another 4,000 jobs,” Kelly said.

    ###

    MIL OSI USA News

  • MIL-OSI Security: Thompson — Thompson RCMP investigating two aggravated assaults over the weekend

    Source: Royal Canadian Mounted Police

    On September 21, 2024, at approximately 12:15 am, Thompson RCMP were called to an address on Nickel Road following a report of an assault. On arrival, officers located a 56-year-old male with multiple stab wounds.

    The victim was taken to a local hospital by EMS and later transported to a Winnipeg hospital where he remains in stable condition.

    The initial investigation has determined that a group consisting of three males and one female confronted and stabbed the victim.

    The investigation is ongoing and anyone with information should contact Thompson detachment at 204-627-6909, Crime Stoppers anonymously at 1-800-222-8477, or secure tip online at www.manitobacrimestoppers.com.

    File 2024-1392285

    On September 21, 2024, at approximately 12:45 am, officers were called to a business on Princeton Drive for a report of another stabbing.

    When officers arrived, they found a 35-year-old male suffering from multiple stab wounds. The victim was conscious and transported by EMS to hospital with serious injuries.

    Patrols for the suspect began immediately.

    The suspect was quickly located walking on Brandon Crescent. He was placed under arrest and taken into custody.

    Brandon Anderson, 29, has been charged with Aggravated Assault and remanded into custody.

    It is believed that the suspect and victim were known to each other.

    Thompson RCMP continue to investigate.

    While both incidents occurred approximately 30 minutes apart, police do not believe they are related.

    MIL Security OSI

  • MIL-OSI Security: Bangladesh: ICITAP-Developed Host Nation Instructors Continue Self-Initiated Training Efforts for Human Rights

    Source: United States Attorneys General 13

    On June 29, the ICITAP-Bangladesh mission provided an update on the impact of its Human Rights assistance efforts in Bangladesh. Following the completion of an ICITAP-led Human Rights and Dignity course in May 2024, a Host Nation Instructor (HNI) – rank of Superintendent of Police – from the Police Bureau of Investigations (PBI) – Chattogram District, demonstrated his commitment to our INL-funded Human Rights and Host Nation Instructor programs by organizing and completing a day-long Human Rights and Dignity course on June 6, 2024 for personnel assigned within his unit. While attending ICITAP’s course in May, the HNI had expressed his strong appreciation for the information and training provided during this event, further highlighting his strong desire to share what he had learned with his unit members, allowing for opportunities for discussion, sharing of insights, and afford openings for improved policy and procedures. This workshop was carefully designed to explore crucial topics such as international human rights standards, ethical conduct, and professional integrity, with the goal of enhancing officers’ abilities in identifying signs of abuse and reshaping police mindsets. To sculpt this latest effort for his unit, SP Nazmul focused on confronting the significant challenge of human rights violations in law enforcement by highlighting strategies to minimize risks during criminal investigations, highlighting the importance of respecting human rights throughout the entire investigative process, including crime scenes, arrests, victim support, and interviews. This unit-initiated training event, spearheaded by ICITAP’s HNI, proved very successful, with the 17 graduating attendees acknowledging the foundational impact that human rights have in providing effective and fair law enforcement, each pledging to uphold human rights as they continue to carry out their duties going forward.

    MIL Security OSI

  • MIL-OSI Security: Philippines: ICITAP Conducts i2 Analyst’s Notebook Workshop for Key Philippine Agencies

    Source: United States Attorneys General 13

    From June 17 to 21, ICITAP conducted a five-day workshop on i2 Analyst’s Notebook, attended by seventeen (17) criminal investigators, intelligence officers, bank officers, and analysts from the Philippine National Police (PNP), the Anti-Money Laundering Council (AMLC), and the Bureau of Jail Management and Penology (BJMP). The workshop aimed to enhance skills in managing large volumes of disparate data, importing financial spreadsheets for quick link analyses, and transforming data into easy-to-understand visual charts for actionable intelligence and decision-making. Participants engaged in hands-on practical exercises, creating link analyses to show relationships between financial transactions and persons of interest, effectively following the money trail and connecting the dots. By the end of the training, attendees were proficient in using Analyst’s Notebook to generate actionable intelligence, supporting more informed decision-making. The workshop received positive feedback, with participants valuing the practical exercises and real-world applications, which will significantly enhance their investigative efforts in crime prevention and resolution. This workshop is funded by the U.S. Department of State’s Bureau of Counterterrorism. 

    MIL Security OSI

  • MIL-OSI: Habeas Corpus (constitutional challenge, “Amparo”) granted against the Ministry of Energy, Mexico – BERDEJA Y BUTLER CONSULTORES, S.C.

    Source: GlobeNewswire (MIL-OSI)

    Santa Fe, Mexico City, Sept. 23, 2024 (GLOBE NEWSWIRE) —

    Amparo en contra de la Secretaría de Energía, México

    Verfassungsbeschwerde gegen das Energieministerium, Mexiko

    Berdeja y Butler Consultores, S.C. (“the Firm”) has achieved a significant legal victory securing an Amparo against  Mexico’s Ministry of Energy, challenging its Decree imposing maximum tariffs on ‘UVIEs’ -verifiers for conformity in electrical installations to the Mexican Official Standards (“NOMs”), “the Decree”, dated September 5, 2022.

    The Amparo was granted in October 2023 and ratified on 4th July 2024 by the First Collegiate Circuit Court in Administrative Matters Specialising in Economic Competition, Broadcasting & Telecommunications.

    The illegal imposition of maximum rates discouraged the work of the UVIEs, promoted simulation, and generated uncertainty for customers, who, due to the improper actions of the authorities, believed that below-market rates were valid; that is, below the rates formally registered by each UVIE with the Ministry of Economy. In other words, the Ministry of Energy was distorting the market and services provided by the UVIEs, and their economics because they had to judicially defend themselves from the now judged illegal Decree.

    The Decree violates the principles of statement of reasons, foundation -constitutional, conventional, and legal–, legal certainty, free competition, job freedom, efficient economy, and the supremacy of the rule of law by prioritising a public interest artificially constructed by the Decree.

    The granting of the definitive Amparo will generate the following benefits: 1. Recover legal and economic certainty in the UVIE-clients relationship; 2. Remove the distortion of UVIE rates in the relevant market; 3. Eliminate the constraint on the UVIE’s job freedom; 4. Reconfirm that the powers of the Ministry of Energy and the Ministry of Economy are limited; it constrained their arbitrariness; 5. Clarify the difference between the regulated electricity industry and the electricity sector; 6. Enforce the international treaties to which Mexico is a party, as well as Mexico’s Constitution and laws; in summary, the rule of law in Mexico.

    There are key industries that need to be properly defended against legislative changes or acts of authority. These include energy: oil & gas, and clean energies; mining for lithium & open-pit mines; and water, particularly pre-existing or granting of future concessions. When acts or ommisions of public authorities violate human rights, the Constitution is the best defense; however, if it is also violated, Conventional mechanisms for the defense and protection of international investments can be activated.

    The Firm trusts that the next President of Mexico will promote the energy sector and the rule of law, and hopes that the administration of justice will not be adversely affected by any reform to the Judiciary Power. Likewise the Firm will continue working towards legal certainty and regulatory compliance to effectively and efficiently protect its clients’ interests, and the investment attraction of Mexico; otherwise, the Firm is ready to help defending business interests in Mexico.

    Please do not hesitate to contact Carlos Berdeja Prieto, Berdeja y Butler Consultores, S.C., carlos_berdeja@bybconsultores.com; (+52)5554362055, in case any business plan related to Mexico needed to be implemented or defended.

    #Verfassungsrecht #Amparo #ConstitutionalLaw #Energie #Energia #Energy #Mexiko #México #Mexico #JuristischeDienstleistungen #LegalServices #ServiciosLegales #Investitionen #Investments #Inversiones #RegulatorischeCompliance #CumplimientoRegulatrorio #RegulatoryCompliance #WirtschaftlicherWettbewerb #EconomicCompetition #CompetenciaEconomica

    The MIL Network

  • MIL-OSI: DTE Energy statement in response to third-party audit of electric distribution system

    Source: GlobeNewswire (MIL-OSI)

    Detroit, Sept. 23, 2024 (GLOBE NEWSWIRE) — DTE Energy (NYSE:DTE) today released the following statement from Matt Paul, president and chief operating officer, DTE Electric, in response to the third-party audit of the electric distribution system issued by the Michigan Public Service Commission.

    “We remain laser-focused on delivering on our commitment to our customers — reducing power outages by 30% and cutting outage time in half by 2029. 

    “To meet that commitment, as well as the customer service standards set by the Michigan Public Service Commission, we’ve been making significant investments as part of our accelerated plan to quickly transition to a smarter grid, aggressively trimming trees, updating our existing infrastructure and rebuilding significant portions of the grid. 

    “We appreciate the audit team confirming that DTE’s proposed investment plan will deliver the dramatic improvement in reliability that our customers demand and deserve in the next five years as well as recognizing the talent and experience of our team. They also point out that our plan is both ambitious and aggressive, and we accept that challenge.

    “We are always looking for ways to improve our processes and programs and thank the audit team for recognizing our progress, as well as providing recommendations on improvements we can make to better serve our customers. 

    “We are currently reviewing the full report and will provide a formal response through the regulatory process. We look forward to continuing to work with the Michigan Public Service Commission on ways to provide our customers with cleaner, more reliable, and affordable energy.”

    Available images of reliability work. Please credit DTE Energy.

    About DTE Energy

    DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers across Michigan. The DTE portfolio also includes energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading. DTE has continued to accelerate its carbon reduction goals to meet aggressive targets and is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy, emission reductions and economic progress. Information about DTE is available at dteenergy.comempoweringmichigan.comx.com/dte_energy and facebook.com/dteenergy. 

    For further information, members of the media may contact: 
    Colleen Rosso, DTE Energy, 313.235.5555   

    The MIL Network

  • MIL-OSI: Nasdaq to Hold Third Quarter 2024 Investor Conference Call

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 23, 2024 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) has scheduled its third quarter 2024 financial results announcement.

      Who:   Nasdaq’s CEO, CFO, and additional members of its senior management team
           
      What:   Review Nasdaq’s third quarter 2024 financial results
           
      When:   Thursday, October 24, 2024
          Results Call: 8:00 AM Eastern
           

    Senior management will be available for questions from the investment community following prepared remarks.

    All participants can access the conference via webcast through the Nasdaq Investor Relations website at http://ir.nasdaq.com/.

    Note: The press release and results presentation for the third quarter 2024 results will be posted on the Nasdaq Investor Relations website at http://ir.nasdaq.com/ on Thursday, October 24, 2024 at approximately 7:00 AM Eastern.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Media Relations Contact:

    Nick Eghtessad
    +1.929.996.8894
    Nick.Eghtessad@Nasdaq.com

    Investor Relations Contact:

    Ato Garrett
    +1.212.401.8737
    Ato.Garrett@Nasdaq.com

    -NDAQF-

    The MIL Network

  • MIL-OSI: Greystone Housing Impact Investors LP Announces Broker’s For Sale Listing of Vantage at Hutto

    Source: GlobeNewswire (MIL-OSI)

    OMAHA, Neb., Sept. 23, 2024 (GLOBE NEWSWIRE) — Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced today that Vantage at Hutto, a 288-unit market rate multifamily property located in Hutto, TX (the “Property”), has been publicly listed for sale by Institutional Property Advisors Texas at the direction of the Property-owning entity’s managing member. The Partnership’s non-controlling investment in the Property was originated in November 2020 and the Partnership has contributed equity totaling $11.8 million during construction and stabilization. Construction of the Property was completed in December 2023. The Property reported 89% physical occupancy as of August 31, 2024. If the listing process is consistent with past Vantage property sales and a sale contract is successfully executed, then the Partnership expects the sale of the Property to occur in the first quarter of 2025. Current market volatility and potential future market developments may delay the expected timing of the sale and may negatively impact the final sales price for the Property.

    Consistent with past Vantage property sales, the managing member controls the listing and sales process under the terms of the Property owning entity’s operating agreement (the “Operating Agreement”). The Partnership will be entitled to certain net proceeds upon the successful completion of a sale of the Property in accordance with the Operating Agreement.

    About Greystone Housing Impact Investors LP

    Greystone Housing Impact Investors LP was formed in 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable multifamily, seniors and student housing properties. The Partnership is pursuing a business strategy of acquiring additional mortgage revenue bonds and other investments on a leveraged basis. The Partnership expects and believes the interest earned on these mortgage revenue bonds is excludable from gross income for federal income tax purposes. The Partnership seeks to achieve its investment growth strategy by investing in additional mortgage revenue bonds and other investments as permitted by its Second Amended and Restated Limited Partnership Agreement, dated December 5, 2022, taking advantage of attractive financing structures available in the securities market, and entering into interest rate risk management instruments. Greystone Housing Impact Investors LP press releases are available at www.ghiinvestors.com.

    Safe Harbor Statement

    Information contained in this press release contains “forward-looking statements,” which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, risks involving current maturities of our financing arrangements and our ability to renew or refinance such maturities, fluctuations in short-term interest rates, collateral valuations, mortgage revenue bond investment valuations and overall economic and credit market conditions. For a further list and description of such risks, see the reports and other filings made by the Partnership with the Securities and Exchange Commission, including but not limited to, its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Readers are urged to consider these factors carefully in evaluating the forward-looking statements. The Partnership disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    INVESTOR CONTACT:
    Andy Grier
    Senior Vice President
    402-952-1235

    MEDIA CONTACT:
    Karen Marotta
    Greystone
    212-896-9149
    Karen.Marotta@greyco.com

    The MIL Network

  • MIL-OSI: Nano Labs Announces Annual General Meeting

    Source: GlobeNewswire (MIL-OSI)

    HANGZHOU, China, Sept. 23, 2024 (GLOBE NEWSWIRE) — Nano Labs Ltd (Nasdaq: NA) (“we,” “the Company,” or “Nano Labs”), a leading fabless integrated circuit design company and product solution provider in China, today announced that it will hold its 2024 Annual General Meeting of Shareholders (the “2024 Annual Meeting”) at 10 A.M. on October 23, 2024, Beijing time (10 P.M. on October 22, 2024, U.S. Eastern time) in China Yuangu Hanggang Technology Building, 509 Qianjiang Road, Shangcheng District, Hangzhou, Zhejiang, 310000, People’s Republic of China. The Company has established the close of business on September 27, 2024, Eastern time (the “Record Date”), as the record date for determining shareholders entitled to notice of, and to vote at, the Meeting and any adjournments or postponements thereof. The purpose of the Meeting is:

    (1) to effect a share consolidation of every ten shares with a par value of US$0.0002 each in the Company’s issued and unissued share capital into one share with a par value of US$0.002 (the “Share Consolidation”), so that immediately following the Share Consolidation and the Share Re-designation, the authorized share capital of the Company shall be US$50,000 divided into 25,000,000 ordinary shares of par value of US$0.002 each, comprising (i) 12,141,093 Class A ordinary shares of par value of US$0.002 each, (ii) 2,858,908 Class B ordinary shares of par value of US$0.002 each, and (iii) 9,999,999 shares of a par value of US$0.002 each of such class or classes (however designated) as the board of directors of the Company (the “Directors”) may determine in accordance with the Company’s New M&A (as defined below).

    (2) to amend the Company’s memorandum and articles of association currently in effect (the “Current M&A”) by the adoption of a new memorandum and articles of association to reflect the Share Consolidation (after the amendment, the “New M&A”); and

    (3) to approve the appointment of MaloneBailey, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024.

    Subject to obtaining the relevant shareholders’ approval at the Meeting, the Share Consolidation will be effective at 5 P.M. on October 29, 2024, U.S. Eastern time, and the Class A ordinary shares are expected to begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market when markets open on the next business trading day under the new CUSIP/ISIN numbers. No fractional shares will be issued in connection with the Share Consolidation. All fractional shares will be rounded up to the whole number of shares. Copies of the notice of the Meeting and the form of proxy are available on the Company’s corporate investor relations website at https://ir.nano.cn.

    About Nano Labs Ltd

    Nano Labs Ltd is a leading fabless integrated circuit (“IC”) design company and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips, high performance computing (“HPC”) chips, distributed computing and storage solutions, smart network interface cards (“NICs”) vision computing chips and distributed rendering. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. Nano Lab’s Cuckoo series are one of the first near-memory HTC chips available in the market*. For more information, please visit the Company’s website at: ir.nano.cn.

    *According to an industry report prepared by Frost & Sullivan.

    Forward-Looking Statements

    This report contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s plan to appeal the Staff’s determination, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

    For investor inquiries, please contact:

    Nano Labs Ltd
    ir@nano.cn

    Ascent Investor Relations LLC
    Tina Xiao
    Phone: +1-646-932-7242
    Email: investors@ascent-ir.com

    The MIL Network

  • MIL-OSI Economics: The African Development Bank Group grants over $67 million to Madagascar to relaunch its economy and improve governance in its energy sector

    Source: African Development Bank Group
    The Board of Directors of the African Development Bank Group approved a loan of $67.3 million to Madagascar on 20 September 2024 to implement the first phase of its economic growth-inducing Financial Management and Resilience Support Programme for 2024-2025.

    MIL OSI Economics