Latest news with #RegulatoryCompliance
CNA
22-05-2025
- Science
- CNA
FAA allows SpaceX Starship's next flight, expands debris hazard zones
WASHINGTON :The U.S. Federal Aviation Administration on Thursday said it approved SpaceX's Starship to return to flight after its explosive test failure in March, allowing Elon Musk's space company to launch from Texas as soon as next week after redrawing hazard zones along the rocket's flight path. SpaceX's Starship, a 400-foot-tall (122 meter) rocket poised to play a central role in the U.S. space program, had a rare spate of back-to-back testing failures this year, diverting dozens of commercial flights and prompting complaints from other countries affected by Starship debris. The FAA said in a statement approving Starship's next flight that it was in "close contact and collaboration" with the United Kingdom, Turks and Caicos Islands, Bahamas, Mexico and Cuba - where Starship flies over or near on its path to space - as it monitors SpaceX's regulatory compliance in future flights. Debris from Starship's last two testing explosions - one in January and another in March - rained over Turks and Caicos, a British overseas territory, and portions of the Caribbean, rankling residents and triggering cleanup efforts by SpaceX staff and local authorities. The FAA expanded a predetermined keep-out zone, or Aircraft Hazard Area, on Starship's flight path from 885 nautical miles to 1,600 nautical miles, extending eastward from SpaceX's launch site on the southern Texas coast and through the Straits of Florida, including the Bahamas and Turks and Caicos Islands. "With the Starship vehicle return to flight determination, Starship Flight 9 is authorized for launch," the FAA, which oversees commercial rocket launch safety, said. "The FAA finds SpaceX meets all of the rigorous safety, environmental and other licensing requirements." The FAA said it expanded the size of hazard areas over the U.S. and other countries along Starship's trajectory to space based on an updated flight safety analysis, a complex mathematical calculation that heavily factors probabilities of vehicle failure and expected public casualties. The hazard zones were also expanded, the FAA said, because SpaceX plans to reuse a Starship booster for the first time during its ninth test flight, a key demonstration in the company's goal to make Starship rapidly reusable. The next flight could occur on Tuesday, May 27, according to government airspace notices, though that date could change based on weather and SpaceX's technical readiness.
National Post
13-05-2025
- Business
- National Post
GPs Rethink Operational Tactics Amid Rising SPV Complexity
Article content WILMINGTON, Del. — Faced with rising regulatory demands and operational pressures, general partners (GPs) are increasingly turning to outsourcing and technology to manage special purpose vehicles (SPVs) more efficiently. This trend is highlighted in a new report from CSC, the leading provider of global business administration and compliance solutions. Article content CSC surveyed 400 GPs across the Americas, Europe (including the U.K.), and Asia Pacific to uncover how today's market shifts and operational pressures are reshaping SPV management strategies. 1 The full findings are detailed in the report SPV Global Outlook 2025: How GPs are Shaping Strategies for Long-Term Success. Article content Regulatory compliance and risk mitigation are firmly at the top of GPs' agendas, with nearly three-quarters identifying the growing regulatory burden and the associated reputational and financial risks as key concerns. Navigating regulatory changes was cited as the single greatest challenge when setting up and running SPVs, followed closely by managing operational differences across multiple geographies. Article content These challenges come at a pivotal time as markets grow increasingly competitive, complex, and cross border. Despite inflation and geopolitical uncertainty, GPs remain focused on deploying dry powder and capitalizing on LP appetite for differentiated, long-term value. Article content Amid these shifts, GPs anticipate growing demand for more direct, customized, and flexible investment structures. Co-investment funds are expected to see the highest demand over the next three years, followed by sector-specific and evergreen funds. Article content 'Traditional funds are still very active, but LP demands are rising and will continue to grow,' notes Thijs van Ingen, global head of Corporate Solutions, CSC. 'LPs want access to special deals like club structures and separately managed accounts, pushing GPs to innovate with co-investments, evergreen funds, or special joint venture vehicles. While these structures aren't new, they're growing in volume and adding significant complexity to reporting and underlying operations.' Article content In response, 63% of GPs report they have already significantly increased outsourcing to external providers. Their operational priorities for the next phase of growth include centralized SPV portals (63%), improved cash management (58%), and enhanced entity management systems (45%). Article content 'The question for GPs is no longer how to manage change, but how to lead through it,' said Ram Chandrasekar, global head of Fund Solutions, CSC. 'What GPs need today is a connected ecosystem that provides a centralized view across their entire corporate portfolio. SPVs, funds, investments—each represents a distinct set of data points, and managers must connect these seamlessly to operate effectively. By investing in operational enhancements and building strategic partnerships, GPs are ensuring smoother SPV management, greater scalability, and stronger resilience.' Article content 1 CSC, in partnership with Pure Profile, surveyed 400 GPs across the Americas, Europe (including the U.K.), and Asia Pacific. 200 were active in private capital (defined as private equity and private credit) and 200 in real assets (defined as real estate and infrastructure). Article content CSC is the world's leading provider of business administration and compliance solutions, offering industry-leading expertise and unmatched global reach to alternative fund managers and capital markets participants. Leveraging deep institutional experience and a tailored approach, CSC delivers a comprehensive suite of fund administration, trust, agency, and compliance services to support a wide range of private and public market transactions, complex fund strategies, and scalable operations. Article content As the trusted partner of choice for more than 70% of the PEI 300 and 90% of the Fortune 500 ®, CSC helps clients navigate operational and transactional complexities across more than 140 jurisdictions and various asset classes. With extensive worldwide capabilities, our expert teams provide solutions tailored to each client's needs. Privately held and professionally managed since 1899, we combine global reach, local expertise, and innovative solutions to help our clients succeed. Article content Article content Article content Article content Contacts Article content For more information: Citigate Dewe Rogerson Thomas Dalton cscteam@ Article content Article content Article content
Associated Press
29-04-2025
- Business
- Associated Press
Cycurion, Inc. Announces $6 Million Contract Award by Major Municipal Transportation Agency
MCLEAN, Va., April 29, 2025 (GLOBE NEWSWIRE) -- Cycurion (Nasdaq: CYCU) ('Cycurion' or the 'Company'), a trusted leader in IT cybersecurity solutions and AI, announces it has been awarded a $6 million contract by a major municipal transportation agency. Under this contract, Cycurion will deliver a wide range of professional consulting services, including Audit and Cybersecurity Services, Organizational Change Management Consulting, Data Analytics, and Information Technology Services. The Scope of Work also potentially includes the integration of Cycurion's proprietary ARx platform to further enhance operational and cybersecurity capabilities. Cycurion brings extensive transportation sector expertise, combined with a strong track record in defining and measuring organizational performance to address deficiencies. Specific services provided will include Risk and Vulnerability Assessments, Regulatory Compliance Analysis, Enterprise Cybersecurity Strategy Development, Testing, and Vulnerability Management. 'The contract with this major municipal transportation agency demonstrates the utility of our full range of capabilities within the municipal transportation sector, and represents an important expansion into that vertical,' said L. Kevin Kelly, CEO of Cycurion. 'This award further highlights our strategic growth and ongoing commitment to helping our clients manage risk, drive innovation, and achieve operational excellence. We look forward to leveraging our full team's broad resources and deep industry expertise to deliver best-in-class solutions.' Cycurion continues to drive its overarching strategy to expand its presence among the broader public sector services market – including that of transportation – along with the broadening of its service offerings to include higher value IT and leading cybersecurity services. About Cycurion Based in McLean, Virginia, Cycurion (NASDAQ: CYCU) is a forward-thinking provider of IT cybersecurity solutions and AI, committed to delivering secure, reliable, and innovative services to clients worldwide. Specializing in cybersecurity, program management, and business continuity, Cycurion harnesses its AI-enhanced ARx platform and expert team to empower clients and safeguard their operations. Along with its subsidiaries, Axxum Technologies, Cloudburst Security, and Cycurion Innovation, Inc., Cycurion serves government, healthcare, and corporate clients with a commitment to securing the digital future. Forward Looking Statements This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the operations and prospective growth of Cycurion's business. Many factors could cause Cycurion's actual results, performance, or achievements to be materially different from any future results, performance, or achievements described in this press release, including words such as 'continue', 'expect', 'intend', 'will', 'hope', 'should', 'would', 'may', 'potential', and other similar expressions. Such factors could include, among others, those detailed in its Registration Statement on Form S-4 and in its Annual Report on Form 10-K, each as filed with the Securities and Exchange Commission (the 'SEC'). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled 'Risk Factors' in those filings with the SEC underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and Cycurion does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. Cycurion cannot assure that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Individuals are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Investor Contact: CORE IR [email protected] Media Contact: Phone: (703) 555-0123 Email: [email protected]
Telegraph
03-04-2025
- Politics
- Telegraph
Watchdog opens case into ‘concerns' at Prince Harry's charity
The Charity Commission has opened a case into 'concerns raised' about Prince Harry's African charity, Sentebale, amid a bitter boardroom battle. The watchdog said it had made contact with those who have raised concerns about the charity's governance, including the Duke and Sophie Chandauka, the chairman. The Charity Commission said in a statement on Thursday: 'The regulator for charities in England and Wales has opened a regulatory compliance case to examine concerns raised about the charity Sentebale.' It comes after a bitter row over the charity's governance, fuelled by claims and counter-claims of racism, bullying and mismanagement. The commission said it was 'in direct contact with parties who have raised concerns to gather evidence and assess the compliance of the charity and trustees past and present with their legal duties'. It added: 'The regulator's focus, in line with its statutory remit, will be to determine whether the charity's current and former trustees, including its chair, have fulfilled their duties and responsibilities under charity law. 'The Commission is not an adjudicator or mediator and is guided by the principle of ensuring trustees fulfil their primary duty to their charitable purpose and beneficiaries. 'After a period of assessing the initial concerns raised with the Commission, the regulator informed the charity on April 2 2025 it has opened a regulatory compliance case. The regulator has not made any findings at this time.' Decision welcomed by chairman Ms Chandauka, who first raised concerns with the watchdog in February, said she welcomed its decision to open a case. She revealed the charity had launched an internal governance review last year and would share its findings with the commission. She said: 'We hope that, together, these actions will give the general public, our colleagues, partners, supporters, donors and the communities we serve comfort that Sentebale and its new board of trustees are acting appropriately to demonstrate and ensure good governance and a healthy culture for Sentebale to thrive.' Carmel Gaillar, Sentebale's executive director, added: 'Transparency and accountability are central to how we operate, and the executive team and I are fully committed to supporting the Charity Commission's Regulatory Compliance case in any way needed. 'We will also continue to work closely with the chair and the new board of trustees to ensure the smooth running of the organisation, keeping our focus firmly on delivering for the young people and communities we serve.' Prince Harry and Prince Seeiso of Lesotho, with whom he founded the charity, said last month that the relationship between the trustees and Ms Chandauka was broken 'beyond repair, creating an untenable situation.' They said they would be sharing concerns with the Charity Commission 'as to how this came about'. When Ms Chandauka first raised her complaint with the watchdog, she accused the board of 'bullying, harassment, misogyny, misogynoir' – prejudice directed at black women.
