FROM: U.S. DEPARTMENT OF LABOR
US Labor Department issues report on labor concerns in Dominican sugar sector, announces $10 million project in agriculture
WASHINGTON — U.S. Secretary of Labor Thomas E. Perez today released a report regarding labor concerns in the Dominican sugar sector in response to a public submission filed under the Labor Chapter of the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR). The department also announced a $10 million project to reduce child labor and to improve labor rights and working conditions in the Dominican agriculture sector.
Secretary of Labor Thomas E. Perez stated, "Today we are releasing a report that highlights labor concerns in the Dominican sugar sector and shortcomings in the Dominican government's ability to identify and address them. The report recommends a way forward and notes that we stand ready to help. Working together with the Dominican government, we look forward to making a real difference in these workers' lives."
The report is a response to a submission by Father Christopher Hartley, which alleged that the government of the Dominican Republic failed "to enforce labor laws, as required under Chapter 16 of the CAFTA-DR, as these relate to the Dominican sugar industry."
The department conducted a detailed review of all information obtained from the government of the Dominican Republic, the submitter, workers, industry and other stakeholders. The report finds evidence of apparent and potential violations of labor law in the Dominican sugar sector, concerning: (1) acceptable conditions of work with respect to minimum wages, hours of work, and occupational safety and health, such as payments below the minimum wage, 12-hour work days, seven-day work weeks, lack of potable water, and the absence of safety equipment; (2) a minimum age for the employment of children and the prohibition and elimination of the worst forms of child labor; and (3) a prohibition on the use of any form of forced or compulsory labor.
The report also discusses the department's concerns with respect to freedom of association and collective bargaining. Additionally, it highlights significant procedural and methodological shortcomings in the labor inspection process that undermine the government's capacity to identify labor violations. The report offers 11 recommendations to the government of the Dominican Republic to address the report's findings and improve enforcement of Dominican labor laws in the sugar sector. The Department of Labor will review the status of implementation of the recommendations six months and then 12 months after publication.
The Department of Labor is committed to engaging with the government of the Dominican Republic to address the concerns identified in the report and to assisting the government with implementing the report's recommendations. This commitment is evidenced by the $10 million, four-year project that the Department of Labor announced today to reduce child labor and improve labor rights and working conditions n the Dominican agriculture sector. This project builds on many years of Department of Labor's technical assistance to the Dominican Republic, including $16 million in funding since 1998 to eliminate child labor.
Wednesday, October 2, 2013
SEC CHARGES INVESTMENT ADVISORS WITH CHARGING EXCESSIVE FEES WITHOUT AUTHORIZATION
FROM: U.S. SECURITIES AND EXCHANGE COMMISSION
SEC Charges Charlotte Investment Advisors with Excessive Fee Scheme
On September 27, 2013, the Securities and Exchange Commission filed an action in federal court in the Western District of North Carolina, charging Frank Dappah of Charlotte, NC, and his firm, Yatalie Capital Management (a/k/a Yatalie Capital Management Co, Creato Funds L.P., a/k/a Yatalie Capital, Inc., a/k/a Creato Funds, L.P., a/k/a Yatalie Capital Management Co.), a sole proprietorship, with violations of the federal securities laws for charging grossly excessive fees to their advisory clients without authorization or notice and other violations. The Commission's complaint seeks permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, civil penalties, and an asset freeze against the defendants.
The Commission's complaint alleges that Dappah and his firm took from the clients fees far in excess of what they were entitled to under the client advisory agreements. The complaint alleges that between March 2012 and July 2013, Dappah took advisory fees of nearly $75,000 on assets under management averaging around $205,000. One client, according to the complaint, lost $9,200 in unauthorized fees to Dappah in less than a year on investments of around $23,000.
The complaint also alleges that the defendants improperly registered Yatalie Capital Management with the Commission as an investment adviser, that they made multiple materially false statements in Yatalie Capital Management's Forms ADV, on the firm's website and elsewhere, and that the defendants failed to maintain client advisory agreements.
The complaint alleges that Dappah and Yatalie Capital Management violated the antifraud provisions of the federal securities laws, Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 thereunder. It further alleges that while acting as investment advisors, the defendants violated Sections 206(1) and Section 206(2) of the Investment Advisers Act of 1940 ("Advisers Act"), the antifraud provisions of the Advisers Act, and Sections 203A, 204, and 207 the Advisers Act and Rules 204-2 and 206(4)-1 thereunder.
The defendants have entered into a consent with the Commission agreeing to the entry by the Court of the relief requested in the complaint.
SEC Charges Charlotte Investment Advisors with Excessive Fee Scheme
On September 27, 2013, the Securities and Exchange Commission filed an action in federal court in the Western District of North Carolina, charging Frank Dappah of Charlotte, NC, and his firm, Yatalie Capital Management (a/k/a Yatalie Capital Management Co, Creato Funds L.P., a/k/a Yatalie Capital, Inc., a/k/a Creato Funds, L.P., a/k/a Yatalie Capital Management Co.), a sole proprietorship, with violations of the federal securities laws for charging grossly excessive fees to their advisory clients without authorization or notice and other violations. The Commission's complaint seeks permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, civil penalties, and an asset freeze against the defendants.
The Commission's complaint alleges that Dappah and his firm took from the clients fees far in excess of what they were entitled to under the client advisory agreements. The complaint alleges that between March 2012 and July 2013, Dappah took advisory fees of nearly $75,000 on assets under management averaging around $205,000. One client, according to the complaint, lost $9,200 in unauthorized fees to Dappah in less than a year on investments of around $23,000.
The complaint also alleges that the defendants improperly registered Yatalie Capital Management with the Commission as an investment adviser, that they made multiple materially false statements in Yatalie Capital Management's Forms ADV, on the firm's website and elsewhere, and that the defendants failed to maintain client advisory agreements.
The complaint alleges that Dappah and Yatalie Capital Management violated the antifraud provisions of the federal securities laws, Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 thereunder. It further alleges that while acting as investment advisors, the defendants violated Sections 206(1) and Section 206(2) of the Investment Advisers Act of 1940 ("Advisers Act"), the antifraud provisions of the Advisers Act, and Sections 203A, 204, and 207 the Advisers Act and Rules 204-2 and 206(4)-1 thereunder.
The defendants have entered into a consent with the Commission agreeing to the entry by the Court of the relief requested in the complaint.
WATER WORLD MARS
FROM: LOS ALAMOS NATIONAL LABORATORY
Water for Future Mars Astronauts?
Diversity of Martian soils leaves Los Alamos scientists thirsty for more
LOS ALAMOS, N.M., Sept. 26, 2013—Within its first three months on Mars, NASA’s Curiosity Rover saw a surprising diversity of soils and sediments along a half-kilometer route that tell a complex story about the gradual desiccation of the Red Planet.
Perhaps most notable among findings from the ChemCam team is that all of the dust and fine soil contains small amounts of water.
“We made this discovery literally with the very first laser shot on the Red Planet,” said Roger Wiens, leader of the ChemCam instrument team. “Every single time we shot at dust we saw a significant hydrogen peak.”
In a series of five papers covering the rover’s top discoveries during its first three months on Mars that appear today in the journal Science, Los Alamos researchers using the rover’s ChemCam instrument team up with an international cadre of scientists affiliated with the CheMin, APXS, and SAM instruments to describe the planet’s seemingly once-volcanic and aquatic history.
Researchers believed the hydrogen seen in the dust was coming from water, a hypothesis that was later corroborated by Curiosity’s SAM instrument, which indicated that all of the soil encountered on Mars contains between 1.5 and 3 percent water. This quantity is enough to explain much of the near-equatorial hydrogen observed beginning in 2001 by Los Alamos’s neutron spectrometer on board the Mars Odyssey spacecraft.
ChemCam also showed that the soils consist of two distinct components. In addition to extremely fine-grained particles that seem to be representative of the ubiquitous Martian dust covering the entire planet’s surface like the fine film that collects on the undisturbed surfaces of a long-abandoned home, the ChemCam team discovered coarser-grained particles up to one millimeter in size that reflected the composition of local rocks. In essence, ChemCam observed the process of rocks being ground down to soil over time.
The ChemCam instrument—which vaporizes material with a high-powered laser and reads the resultant plasma with a spectrometer—has shown a similar composition to fine-grained dust characterized on other parts of the planet during previous Martian missions. ChemCam tested more than 100 targets in a location named Rocknest and found that the dust contained consistent amounts of water regardless of the sampling area.
What’s more, the Rover dug into the soils at Rocknest to provide scientists with the opportunity to sample the newly unearthed portion over the course of several Martian days. The instrument measured roughly the same tiny concentration of water (about 2 percent) in the surface soils as it did in the freshly uncovered soil, and the newly excavated area did not dry out over time—as would be expected if moist subsurface material were uncovered.
The water signature seen by Curiosity in the ubiquitous Martian dust may coincide with the tiny amount of ambient humidity in the planet’s arid atmosphere. Multiple observations indicate that the flowing water responsible for shaping and moving the rounded pebbles encountered in the vicinity of the rover landing area has long since been lost to space, though some of it may still exist deep below the surface of the planet at equatorial locations (water ice is known to exist near the surface at the poles).
Despite the seemingly small measurements of water in the Martian environment, the findings nevertheless are exciting.
“In principle it would be possible for future astronauts to heat the soil to derive water to sustain them,” said Wiens.
While at Rocknest, scientists were also able to test samples that had been characterized by ChemCam with two other instruments aboard the rover: CheMin, a miniaturized apparatus partially developed at Los Alamos that uses X-rays to determine the composition of materials; and SAM, a tiny oven that melts samples and identifies the composition of gases given off by them. The analyses by all three instruments indicate that Mars likely has a volcanic history that shaped the surface of the planet.
A fourth instrument, the Alpha Particle X-ray Spectrometer (APXS), provides additional insights into the volcanic diversity on Mars. APXS analyzed a rock called Jake Matijevic—named in honor of a deceased Jet Propulsion Laboratory Mars engineer—and found that it is one of the most Earth-like rocks yet seen on the Red Planet. The rock’s enrichment in sodium, giving it a feldspar-rich mineral content, makes it very similar to some rocks erupted on ocean islands on Earth. ChemCam contributed to the characterization of Jake_M.
The Curiosity Rover is scheduled to explore Mars for another year at least. In the coming months, Curiosity will travel to Mount Sharp, a towering peak nearly three miles in elevation. Mount Sharp appears to contain layers of sedimentary history dating back several billion years. These layers are like pages of a book that could teach researchers much about the geologic and climate history of the Red Planet.
Water for Future Mars Astronauts?
Diversity of Martian soils leaves Los Alamos scientists thirsty for more
LOS ALAMOS, N.M., Sept. 26, 2013—Within its first three months on Mars, NASA’s Curiosity Rover saw a surprising diversity of soils and sediments along a half-kilometer route that tell a complex story about the gradual desiccation of the Red Planet.
Perhaps most notable among findings from the ChemCam team is that all of the dust and fine soil contains small amounts of water.
“We made this discovery literally with the very first laser shot on the Red Planet,” said Roger Wiens, leader of the ChemCam instrument team. “Every single time we shot at dust we saw a significant hydrogen peak.”
In a series of five papers covering the rover’s top discoveries during its first three months on Mars that appear today in the journal Science, Los Alamos researchers using the rover’s ChemCam instrument team up with an international cadre of scientists affiliated with the CheMin, APXS, and SAM instruments to describe the planet’s seemingly once-volcanic and aquatic history.
Researchers believed the hydrogen seen in the dust was coming from water, a hypothesis that was later corroborated by Curiosity’s SAM instrument, which indicated that all of the soil encountered on Mars contains between 1.5 and 3 percent water. This quantity is enough to explain much of the near-equatorial hydrogen observed beginning in 2001 by Los Alamos’s neutron spectrometer on board the Mars Odyssey spacecraft.
ChemCam also showed that the soils consist of two distinct components. In addition to extremely fine-grained particles that seem to be representative of the ubiquitous Martian dust covering the entire planet’s surface like the fine film that collects on the undisturbed surfaces of a long-abandoned home, the ChemCam team discovered coarser-grained particles up to one millimeter in size that reflected the composition of local rocks. In essence, ChemCam observed the process of rocks being ground down to soil over time.
The ChemCam instrument—which vaporizes material with a high-powered laser and reads the resultant plasma with a spectrometer—has shown a similar composition to fine-grained dust characterized on other parts of the planet during previous Martian missions. ChemCam tested more than 100 targets in a location named Rocknest and found that the dust contained consistent amounts of water regardless of the sampling area.
What’s more, the Rover dug into the soils at Rocknest to provide scientists with the opportunity to sample the newly unearthed portion over the course of several Martian days. The instrument measured roughly the same tiny concentration of water (about 2 percent) in the surface soils as it did in the freshly uncovered soil, and the newly excavated area did not dry out over time—as would be expected if moist subsurface material were uncovered.
The water signature seen by Curiosity in the ubiquitous Martian dust may coincide with the tiny amount of ambient humidity in the planet’s arid atmosphere. Multiple observations indicate that the flowing water responsible for shaping and moving the rounded pebbles encountered in the vicinity of the rover landing area has long since been lost to space, though some of it may still exist deep below the surface of the planet at equatorial locations (water ice is known to exist near the surface at the poles).
Despite the seemingly small measurements of water in the Martian environment, the findings nevertheless are exciting.
“In principle it would be possible for future astronauts to heat the soil to derive water to sustain them,” said Wiens.
While at Rocknest, scientists were also able to test samples that had been characterized by ChemCam with two other instruments aboard the rover: CheMin, a miniaturized apparatus partially developed at Los Alamos that uses X-rays to determine the composition of materials; and SAM, a tiny oven that melts samples and identifies the composition of gases given off by them. The analyses by all three instruments indicate that Mars likely has a volcanic history that shaped the surface of the planet.
A fourth instrument, the Alpha Particle X-ray Spectrometer (APXS), provides additional insights into the volcanic diversity on Mars. APXS analyzed a rock called Jake Matijevic—named in honor of a deceased Jet Propulsion Laboratory Mars engineer—and found that it is one of the most Earth-like rocks yet seen on the Red Planet. The rock’s enrichment in sodium, giving it a feldspar-rich mineral content, makes it very similar to some rocks erupted on ocean islands on Earth. ChemCam contributed to the characterization of Jake_M.
The Curiosity Rover is scheduled to explore Mars for another year at least. In the coming months, Curiosity will travel to Mount Sharp, a towering peak nearly three miles in elevation. Mount Sharp appears to contain layers of sedimentary history dating back several billion years. These layers are like pages of a book that could teach researchers much about the geologic and climate history of the Red Planet.
Tuesday, October 1, 2013
CHAIRMAN JOINT CHIEFS GENERAL DEMPSEY SEES SYRIAN CONFLICT TAKING YEARS TO RESOLVE
FROM: U.S. DEFENSE DEPARTMENT
Syrian Conflict Will Take Years to Sort Out, Dempsey Says
By Jim Garamone
American Forces Press Service
SEOUL, South Korea, Oct. 1, 2013 - The conflict in Syria will take years to sort out, the chairman of the Joint Chiefs of Staff said today during an interview here.
The Syrian civil war has reverberated around the Middle East and involves a diverse cast of players and power blocs, said Army Gen. Martin E. Dempsey. The chairman is here to meet with South Korean defense leaders.
"It's very complex, it's changing and most importantly we have to see it as a long-term issue," he said during the interview. "The issues that underlie this conflict will not be solved any time soon. I think we're looking at a decade of challenges in the region with Syria being the epicenter."
The war in the Middle Eastern nation has gotten to the point where it has spilled over the borders. "It is not useful to look at Syria as Syria meaning it's not useful to look through the soda straw at the boundaries of Syria and believe you understand the situation," he said.
The conflict stretches from Beirut to Damascus to Baghdad, he said, and it has historic roots. At the beginning, he said, the war had religious undertones, but he believes the more appropriate term should now be religious overtones. "A conflict that started as a rebellion has been hijacked by extremists on both sides al-Qaida affiliates on one side and Lebanese Hezbollah on the other," the chairman said. "The question seems to be what should we be doing to help our regional partners. And we are."
The United States is taking a whole-of-government approach to the region, he said. From the military side, the United States is looking to see how to assist the Lebanese armed forces. U.S. service members are working with the Jordanian military and the United States is working with Turkey a close NATO ally.
"Through the whole-of-government [approach,] we're trying to apply economic factors assistance of other kinds to help identify a moderate opposition so as this thing develops we can have some influence in a positive way on the outcome," he said.
Dempsey has been in touch with concerned chiefs of defense throughout the Middle East and Europe. "We've got incredible experience with building partners, and building military and police formations," he said. "And so we've been in discussion about whether if we could find a way to collaborate on ... the issue of whether we could develop a moderate opposition, in particular to stabilize some of the humanitarian issues in northern Jordan and southern Turkey."
These discussions have not risen to the level of a plan, he said, more as a concept. "And I think it's a valid concept to be thinking about in particular if [Syrian President Bashir] Assad after the chemical issue is reconciled if he fails to come to Geneva 2 with an intent to seek a political settlement," Dempsey said. "Then I think like-minded nations might have the opportunity to contribute in different ways if we're asked to."
Syrian Conflict Will Take Years to Sort Out, Dempsey Says
By Jim Garamone
American Forces Press Service
SEOUL, South Korea, Oct. 1, 2013 - The conflict in Syria will take years to sort out, the chairman of the Joint Chiefs of Staff said today during an interview here.
The Syrian civil war has reverberated around the Middle East and involves a diverse cast of players and power blocs, said Army Gen. Martin E. Dempsey. The chairman is here to meet with South Korean defense leaders.
"It's very complex, it's changing and most importantly we have to see it as a long-term issue," he said during the interview. "The issues that underlie this conflict will not be solved any time soon. I think we're looking at a decade of challenges in the region with Syria being the epicenter."
The war in the Middle Eastern nation has gotten to the point where it has spilled over the borders. "It is not useful to look at Syria as Syria meaning it's not useful to look through the soda straw at the boundaries of Syria and believe you understand the situation," he said.
The conflict stretches from Beirut to Damascus to Baghdad, he said, and it has historic roots. At the beginning, he said, the war had religious undertones, but he believes the more appropriate term should now be religious overtones. "A conflict that started as a rebellion has been hijacked by extremists on both sides al-Qaida affiliates on one side and Lebanese Hezbollah on the other," the chairman said. "The question seems to be what should we be doing to help our regional partners. And we are."
The United States is taking a whole-of-government approach to the region, he said. From the military side, the United States is looking to see how to assist the Lebanese armed forces. U.S. service members are working with the Jordanian military and the United States is working with Turkey a close NATO ally.
"Through the whole-of-government [approach,] we're trying to apply economic factors assistance of other kinds to help identify a moderate opposition so as this thing develops we can have some influence in a positive way on the outcome," he said.
Dempsey has been in touch with concerned chiefs of defense throughout the Middle East and Europe. "We've got incredible experience with building partners, and building military and police formations," he said. "And so we've been in discussion about whether if we could find a way to collaborate on ... the issue of whether we could develop a moderate opposition, in particular to stabilize some of the humanitarian issues in northern Jordan and southern Turkey."
These discussions have not risen to the level of a plan, he said, more as a concept. "And I think it's a valid concept to be thinking about in particular if [Syrian President Bashir] Assad after the chemical issue is reconciled if he fails to come to Geneva 2 with an intent to seek a political settlement," Dempsey said. "Then I think like-minded nations might have the opportunity to contribute in different ways if we're asked to."
FDA APPROVES BRINTELLIX TO TREAT ADULT MAJOR DEPRESSIVE DISORDER
FROM: U.S. FOOD AND DRUG ADMINISTRATION
The U.S. Food and Drug Administration today approved Brintellix (vortioxetine) to treat adults with major depressive disorder.
Major depressive disorder (MDD), commonly referred to as depression, is a mental disorder characterized by mood changes and other symptoms that interfere with a person's ability to work, sleep, study, eat and enjoy once-pleasurable activities. Episodes of depression often recur throughout a person's lifetime, although some may experience a single occurrence.
Other signs and symptoms of MDD include loss of interest in usual activities, significant change in weight or appetite, insomnia or excessive sleeping (hypersomnia), restlessness/pacing (psychomotor agitation), increased fatigue, feelings of guilt or worthlessness, slowed thinking or impaired concentration, and suicide attempts or thoughts of suicide. Not all people with MDD experience the same symptoms.
The U.S. Food and Drug Administration today approved Brintellix (vortioxetine) to treat adults with major depressive disorder.
Major depressive disorder (MDD), commonly referred to as depression, is a mental disorder characterized by mood changes and other symptoms that interfere with a person's ability to work, sleep, study, eat and enjoy once-pleasurable activities. Episodes of depression often recur throughout a person's lifetime, although some may experience a single occurrence.
Other signs and symptoms of MDD include loss of interest in usual activities, significant change in weight or appetite, insomnia or excessive sleeping (hypersomnia), restlessness/pacing (psychomotor agitation), increased fatigue, feelings of guilt or worthlessness, slowed thinking or impaired concentration, and suicide attempts or thoughts of suicide. Not all people with MDD experience the same symptoms.
E-MAIL SENT FROM ATTORNEY GENERAL HOLDER REGARDING GOVERNMENT SHUTDOWN
FROM: U.S. JUSTICE DEPARTMENT
Message from the Attorney General and the President to Employees
~ Tuesday, October 1, 2013
The following message from the Attorney General was emailed to Justice Department employees on October 1, 2013.
Dear Colleagues,
As we enter this unnecessary and harmful government shutdown, I have been asked to pass on the attached message to all federal employees from President Obama.
I also want to reiterate that I am grateful for your dedicated service and I am mindful of how difficult this shutdown is on you, the Department's hard-working employees. While I hope that Congress will act to resolve this situation quickly, I will make every effort to keep you informed over the coming days.
As always, I am proud of the work that we do together to keep our nation and the American people safe each day.
Sincerely,
Eric H. Holder, Jr.
Attorney General
Message from the Attorney General and the President to Employees
~ Tuesday, October 1, 2013
The following message from the Attorney General was emailed to Justice Department employees on October 1, 2013.
Dear Colleagues,
As we enter this unnecessary and harmful government shutdown, I have been asked to pass on the attached message to all federal employees from President Obama.
I also want to reiterate that I am grateful for your dedicated service and I am mindful of how difficult this shutdown is on you, the Department's hard-working employees. While I hope that Congress will act to resolve this situation quickly, I will make every effort to keep you informed over the coming days.
As always, I am proud of the work that we do together to keep our nation and the American people safe each day.
Sincerely,
Eric H. Holder, Jr.
Attorney General
PRESIDENT OBAMA EXPRESSES DISAPPOINTMENT WITH CONGRESS
FROM: U.S. DEFENSE DEPARTMENT
Obama Lauds DOD Workforce, Encourages Budget Resolution
By Army Sgt. 1st Class Tyrone C. Marshall Jr.
American Forces Press Service
American Forces Press Service
WASHINGTON, Oct. 1, 2013 - President Barack Obama thanked the Defense Department workforce today in a video message and expressed his disappointment in Congress' failure to approve a budget, resulting in a government shutdown.
"As president, and as your commander-in-chief, I've worked to make sure you have the strategy, the resources and the support you need to complete the missions our nation asks of you," he said.
"And every time you've met your responsibilities and performed with extraordinary professionalism, skill and courage," Obama said.
Unfortunately, the president said, Congress has not fulfilled its responsibility and failed to pass a budget.
"As a result, much of our government must now shut down until Congress funds it again," Obama said.
Obama noted Defense Secretary Chuck Hagel, Army Gen. Martin E. Dempsey, chairman of the Joint Chiefs of Staff, and other commanders would provide more information on how the shutdown will affect the DOD civilians and their families.
"Today, I want to speak directly to you about how what happens next," he said. "Those of you in uniform will remain in your normal duty status. The threats to our national security have not changed, and we need you to be ready for any contingency."
"Ongoing military operations, like our efforts in Afghanistan, will continue," Obama said. "If you're serving in harm's way, we're going to make sure you have what you need to succeed in your missions."
The president said Congress has passed, and he would sign into law, legislation ensuring those personnel receive their paychecks on time.
"We'll continue to work to address any impact this shut down has on you and your families," Obama said.
"To all our DOD civilians, I know the days ahead could mean more uncertainty, including possible
furloughs," he said. "And I know this comes on top of the furloughs that many of you already endured this summer."
Obama said DOD civilians and their families deserved "better than the dysfunction we're seeing in Congress."
"Your talents and dedication help keep our military the best in the world," he said. "That's why I'll keep working to get Congress to re-open our government and get you back to work as soon as possible."
Obama said the shutdown is occurring against the background of broader changes with the war in Iraq over and the war in Afghanistan slated to end next year.
"After more than a decade of unprecedented operations, we're moving off a war footing," he said. "Yes, our military will be leaner, and as a nation, we face difficult budget choices going forward."
"But here's what I want you to know. I'm going to keep fighting to get rid of those across-the-board budget cuts the sequester which are hurting our military and our economy."
We need a responsible approach, Obama said, that deals with our fiscal challenges and keeps our military and our economy strong.
"I'm going to make sure you stay the greatest military in the world bar none," he added. "That's what I'm fighting for. That's what you and your families deserve."
The president thanked the Defense Department for their commitment to protecting the nation.
"On behalf of the American people, thank you for your service which keeps us free," Obama said. "And thank you for your sacrifice which keeps our nation and our military the greatest force for freedom that the world has ever known."
CFTC CHARGES MISSOURI RESIDENT AND COMPANY WITH VIOLATING COMMODITY EXCHANGE ACT AND FOREX REGULATIONS
FROM: COMMODITY FUTURES TRADING COMMISSION
CFTC Files Enforcement Action Charging Missouri Resident Daniel K. Steele and His Foreign Currency Firm with Violations of the Commodity Exchange Act and Forex Regulations
Court enters Order freezing Defendants’ assets and protecting books and records
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) announced the filing of a civil Complaint against Defendants Daniel K. Steele of Rolla, Missouri, and his firm Champion Management International, LLC (Champion Management). The CFTC’s Complaint charges Steele with, among other things, engaging in an act or practice which operated as a fraud or deceit under Section 4o(1)(B) of the Commodity Exchange Act (CEA) for failing to disclose material information, including that defendants were acting as unregistered Commodity Pool Operators (CPO) for at least two commodity pools engaging in off-exchange retail foreign currency transactions (forex). The Complaint also charges Steele with failing to disclose that the counterparty to the retail forex transactions that were offered or entered into with the respective pools was not registered as a Retail Foreign Exchange Dealer (RFED). The Complaint charges Champion Management with acting as an unregistered CPO in connection with a third forex pool. The Complaint further alleges that neither Defendant has ever been registered with the CFTC in any capacity.
The complaint, filed on September 25, 2013, in the U.S. District Court for the Eastern District of Missouri Eastern Division, alleges that from at least February 28, 2011 through the present (relevant period), Steele individually and acting as an agent of Champion Management, solicited at least $1.7 million from at least 24 pool participants to participate in three forex pools. The Complaint further alleges that Steele, during the relevant period, failed to disclose material information to pool participants, which operated as a fraud in that neither he nor Champion Management were properly registered with the CFTC and that he misappropriated a portion of pool participants’ funds.
On September 25, 2013, the same day the complaint was filed, Judge Rodney W. Sippel, of the U.S. District Court for the for the Eastern District of Missouri, entered under seal an emergency order freezing the defendants’ assets and prohibiting the destruction or alteration of books and records. The judge set a hearing date on the CFTC’s motion for a preliminary injunction for October 7, 2013.
In its continuing litigation, the CFTC seeks a return of ill-gotten gains, restitution, civil monetary penalties, trading and registration bans, and permanent injunctions against further violations of the federal commodities laws.
The CFTC appreciates the assistance of the Missouri Secretary of State, Securities Division and the United States Postal Inspection Service.
CFTC Division of Enforcement staff responsible for this case are: Eugene Smith, Melanie Devoe, George Malas, Kyong J. Koh, Peter M. Haas, and Paul G. Hayeck.
CFTC Files Enforcement Action Charging Missouri Resident Daniel K. Steele and His Foreign Currency Firm with Violations of the Commodity Exchange Act and Forex Regulations
Court enters Order freezing Defendants’ assets and protecting books and records
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) announced the filing of a civil Complaint against Defendants Daniel K. Steele of Rolla, Missouri, and his firm Champion Management International, LLC (Champion Management). The CFTC’s Complaint charges Steele with, among other things, engaging in an act or practice which operated as a fraud or deceit under Section 4o(1)(B) of the Commodity Exchange Act (CEA) for failing to disclose material information, including that defendants were acting as unregistered Commodity Pool Operators (CPO) for at least two commodity pools engaging in off-exchange retail foreign currency transactions (forex). The Complaint also charges Steele with failing to disclose that the counterparty to the retail forex transactions that were offered or entered into with the respective pools was not registered as a Retail Foreign Exchange Dealer (RFED). The Complaint charges Champion Management with acting as an unregistered CPO in connection with a third forex pool. The Complaint further alleges that neither Defendant has ever been registered with the CFTC in any capacity.
The complaint, filed on September 25, 2013, in the U.S. District Court for the Eastern District of Missouri Eastern Division, alleges that from at least February 28, 2011 through the present (relevant period), Steele individually and acting as an agent of Champion Management, solicited at least $1.7 million from at least 24 pool participants to participate in three forex pools. The Complaint further alleges that Steele, during the relevant period, failed to disclose material information to pool participants, which operated as a fraud in that neither he nor Champion Management were properly registered with the CFTC and that he misappropriated a portion of pool participants’ funds.
On September 25, 2013, the same day the complaint was filed, Judge Rodney W. Sippel, of the U.S. District Court for the for the Eastern District of Missouri, entered under seal an emergency order freezing the defendants’ assets and prohibiting the destruction or alteration of books and records. The judge set a hearing date on the CFTC’s motion for a preliminary injunction for October 7, 2013.
In its continuing litigation, the CFTC seeks a return of ill-gotten gains, restitution, civil monetary penalties, trading and registration bans, and permanent injunctions against further violations of the federal commodities laws.
The CFTC appreciates the assistance of the Missouri Secretary of State, Securities Division and the United States Postal Inspection Service.
CFTC Division of Enforcement staff responsible for this case are: Eugene Smith, Melanie Devoe, George Malas, Kyong J. Koh, Peter M. Haas, and Paul G. Hayeck.
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