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Council Report Reviews Digital Asset Financial Stability Risks, Regulatory Gaps; Janet Yellen Quoted
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Council Report Reviews Digital Asset Financial Stability Risks, Regulatory Gaps; Janet Yellen Quoted

The Financial Stability Oversight Council has released a report that identifies financial stability risks and gaps in the regulation of crypto-asset activities in the U.S. and offers recommendations to help address such gaps.

The council issued the report in accordance with a March executive order that outlines a national policy for digital assets, the Department of the Treasury said Monday.

According to the report, crypto-asset activities lack fundamental risk controls and that prices of crypto-assets seem to be driven by speculation.

The document identified three regulatory gaps and one is that crypto-asset entities do not have a comprehensive regulatory framework and can be involved in regulatory arbitrage.

Recommendations cited in the report include the passage of a measure that would provide federal financial regulators with rulemaking authority over the spot market for crypto-assets that are not securities and study of potential vertical integration by crypto-asset firms. 

“The report concludes that crypto-asset activities could pose risks to the stability of the U.S. financial system and emphasizes the importance of appropriate regulation, including enforcement of existing laws,” said Treasury Secretary Janet Yellen.

“It is vital that government stakeholders collectively work to make progress on these recommendations,” Yellen added.

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OSTP Unveils ‘Blueprint for an AI Bill of Rights’
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OSTP Unveils ‘Blueprint for an AI Bill of Rights’

The White House Office of Science and Technology Policy has outlined five principles that should be used as guidance in designing, deploying and using artificial intelligence and other automated systems to protect the civil rights of U.S. citizens and democratic values.

OSTP said the principles under the Blueprint for an AI Bill of Rights are safe and effective systems; algorithmic discrimination protections; data privacy; notice and explanation; and human alternatives, consideration and fallback.

For the first principle, automated systems should go to pre-deployment testing, risk identification and mitigation and continuous monitoring to ensure that such platforms are safe and effective. 

To prevent discrimination by algorithms and related systems, the document calls for designers and developers to take measures such as performing proactive equity evaluation as part of the system design, ensuring accessibility for people with disabilities during the design, development and pre-deployment phases, using representative data and protecting against proxies for demographic features.

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OMB Memo Sets 12% Small Disadvantaged Business Contracting Goal in FY 2023
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OMB Memo Sets 12% Small Disadvantaged Business Contracting Goal in FY 2023

The Office of Management and Budget has released a memorandum that directs federal agencies to raise the share of contract dollars awarded to small disadvantaged businesses from 11 percent in fiscal year 2022 to 12 percent in FY 2023.

OMB will continue to collaborate with the Small Business Administration and other agencies, the National Economic Council, Domestic Policy Council and the Gender Policy Council to implement the procurement equity programs and carry out more initiatives to build up the federal supplier base’s resilience, according to the memo published Tuesday.

OMB said efforts will include reducing barriers to entry and providing opportunities for these SDBs, women-owned small businesses and other small entities to compete for federal contracts.

According to the document, agencies reached the 11 percent goal in FY 2021 by awarding a total of $62.4 billion to SDBs.

The Biden administration seeks to increase the share of federal contracting dollars awarded to SDBs to 15 percent by 2025.

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Bruce Phillips Named VP of Emerging Markets Growth at SPA; William Vantine Quoted
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Bruce Phillips Named VP of Emerging Markets Growth at SPA; William Vantine Quoted

Former SAIC executive Bruce Phillips has been appointed vice president of emerging markets growth at government contracting and technology organization Systems Planning and Analysis.

In his new role, Phillips will oversee strategy, market outreach and acquisitions, leveraging his almost four decades of career history in profit and loss and business development positions, the Alexandria, Virginia-based company said Tuesday.

“Bruce’s depth of experience in research and development, systems engineering, acquisition management, information technology, and operations combined with his wide-ranging knowledge of multiple markets will further enhance our ability to provide premier analytical services to SPA’s clients. We are thrilled that Bruce has joined the team,” William Vantine, CEO and president of SPA, remarked in a statement.

Phillips began his working life at Engility Corporation (formerly TASC), where he served as a director for nearly 20 years. The executive then moved on to Northrop Grumman as a director of business development administering the new business lifecycle and account management, as well as capture, planning and proposal processes.

The executive subsequently returned to Engility for another near-decade, occupying roles like vice president of the infrastructure protection and security business unit and vice president of space systems. In the former job, he was in charge of efforts that were seeking to snuff out weapons of mass destruction threats as well as strengthening cybersecurity and physical security initiatives. Phillips collaborated with primarily Intelligence Community, Department of Defense and homeland security customers.

Since 2019, before coming to SPA, Phillips was vice president of space and transportation at SAIC. In this role he led civil space and transportation strategy and business development, offering systems engineering and information technology services to space, defense, IC and civil agency clientele.

As VP of emerging markets growth at SPA, the newly hired executive will concentrate on winning business from the IC, Department of Homeland Security and the U.S. Air Force.

Phillips’ hire follows a handful of recent leadership changes at SPA. In August, Michelle Howell joined the company as its chief human resources officer and in April, former Blue Origin chief operating officer Terry Benedict was named executive vice president for naval, nuclear and critical infrastructure programs.

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Intel Federal President & GM Jim Brinker Talks Boosting U.S. Share of Global Semiconductor Chip Output in New Video Interview
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Intel Federal President & GM Jim Brinker Talks Boosting U.S. Share of Global Semiconductor Chip Output in New Video Interview

Microelectronics and semiconductor chips are critical to the continued modernization and innovation of the U.S. government. Everything from smartphones and Internet of Things-connected appliances in the private sector to next-generation weapons systems and advanced technologies in the public sector relies on semiconductor chips.

The U.S. once produced 80 percent of the world’s chips, but for the past three decades, that ratio has been steadily declining; today, we only produce around 12 percent of the global semiconductor chip output. Now, the federal government aims to revitalize U.S.-based microelectronics with the CHIPS and Science Act of 2022, which invests $52.7 billion in domestic chip manufacturing.

Intel is one of the top three chip creators in the world — alongside Samsung in Korea and TSMC in Taiwan — and it is the largest chip maker in the United States. Executive Mosaic spoke with Jim Brinker, president and general manager of Intel Federal and three-time Wash100 Award winner, in a recent video interview to find out more about how the CHIPS Act is expected to impact domestic chip production, what Intel is doing to rebalance the global output ratio and what this technology means for the future of American innovation.

Brinker explained how semiconductor chips can pave the way for exciting possibilities in areas like artificial intelligence, 5G, smart cities, quantum and more. He also discussed the potential impacts of Intel’s work on the Aurora Exascale Supercomputer at Argonne National Labs.

Visit ExecutiveMosaic.com to view the full video interview with Intel’s Jim Brinker, and be sure to subscribe to Executive Mosaic’s YouTube channel.

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Conti Federal Lands $69.4M Contract to Restore 3 Barracks at Fort Bragg; CEO Peter Ceribelli Quoted
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Conti Federal Lands $69.4M Contract to Restore 3 Barracks at Fort Bragg; CEO Peter Ceribelli Quoted

Government-serving construction and engineering company Conti Federal Services has booked a $69.4 million task order from a division of the U.S. Army Corps of Engineers to renovate a North Carolina U.S. Army base.

The Orlando, Florida-based company said Tuesday that the contract comes by way of the Rapd, Disaster, Infrastructure 2 Multiple Award Task Order Contract and requires Conti Federal to recoup and revitalize three military residences at Fort Bragg.

The work is aimed to be completed in one year, by September 2023, the timeline of which Conti Federal CEO Peter Ceribelli reports is of utmost importance to the company’s team.

“We understand the urgency of this project and we are eager to get started,” Ceribell added.

The company’s team will conduct demolition duties for load bearing members and a total remaking of the interiors encompassing infrastructure and finishes. Additionally, they will align the residences to newly issued barracks regulations, providing landscape/civil, fire protection, cybersecurity, architectural and mechanical services. Furthermore, Conti Federal will carry out structural, plumbing, electrical, communications and sustainability-related work.

Conti Federal’s contributions are intended to aid the U.S. national defense goal to maintain a rapidly deployable, immediately available 18th Airborne Corps. Fort Bragg is principally the central headquarters of the Airborne and Special Operations forces of the Army and by population is distinguished as one of the highest capacity army bases in the world, with a population of 54,000 warfighters.

The project, which is a function of the Omaha outfit of USACE, came to fruition after multiple soldiers submitted complaints about the conditions of the barracks.

It arrives immediately on the heels of Conti Federal’s late September $140.9 million contract win—also from USACE Omaha—to build an aircraft facility at Francis E. Warren Air Force Base in Cheyenne, Wyoming.

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US, UK Governments Enforce New Data Access Agreement
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US, UK Governments Enforce New Data Access Agreement

A data access agreement that enables U.S. and U.K. law enforcement to request electronic information held by telecommunications companies from the other country’s jurisdictions has come into force.

The Access to Electronic Data for the Purpose of Countering Serious Crime agreement aims to facilitate more timely access to electronic data to support the detection, investigation and prosecution of serious crimes, including terrorism, the Department of Justice said Monday.

The data access agreement, authorized by the Clarifying Lawful Overseas Use of Data Act of 2018, sets out requirements, limitations and conditions when obtaining and using data from telecommunications providers.

Orders submitted by both parties must relate to a serious crime and must not target citizens and persons located in each other’s jurisdictions.

DOJ’s Office of International Affairs has been selected to oversee the implementation of the agreement in the U.S.

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CISA Releases Directive to Improve Asset Visibility, Vulnerability Detection; Director Jen Easterly Quoted
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CISA Releases Directive to Improve Asset Visibility, Vulnerability Detection; Director Jen Easterly Quoted

The Cybersecurity and Infrastructure Security Agency has issued a binding operational directive mandating that agencies report vulnerability enumeration performance data to improve CISA’s operational visibility into federal networks.

The BOD 23-01, titled “Improving Asset Visibility and Vulnerability Detection on Federal Networks,” establishes baseline requirements for agencies to identify assets and vulnerabilities on their networks and submit reports to CISA at regular intervals, the agency said Monday.

Beginning on April 3, 2023, all federal agencies must perform automated asset discovery every seven days and report identified vulnerabilities on the assets every 14 days.

Jen Easterly, director of CISA and a 2022 Wash100 Award recipient, said that cyber threat criminals pose risks to unprotected critical infrastructure and government networks.

“Knowing what’s on your network is the first step for any organization to reduce risk. While this Directive applies to federal civilian agencies, we urge all organizations to adopt the guidance in this directive to gain a complete understanding of vulnerabilities that may exist on their networks,” Easterly added.

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White House ONCD Seeks Comments on National Cyber Workforce Strategy
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White House ONCD Seeks Comments on National Cyber Workforce Strategy

The Office of the National Cyber Director is requesting the public to comment on its plan to create a national strategy focused on cyber workforce, cyber training and education and digital awareness.

The White House said Monday ONCD has released a request for information to allow stakeholders to provide recommendations and best practices to guide the development of the U.S. cyber workforce with an emphasis on expanding diversity, equity, inclusion and accessibility.

In July, National Cyber Director Chris Inglis, a 2022 Wash100 Award winner, hosted a summit with senior U.S. government officials, private sector executives and thought leaders to discuss how the U.S. government can enhance cyber-focused career pathways.

Participants in the summit included Alejandro Mayorkas, secretary of the Department of Homeland Security; Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency; and Anne Neuberger, deputy assistant to the president and deputy national security adviser for cyber and emerging technology on the National Security Council.

Mayorkas, Easterly and Neuberger are all previous Wash100 Award recipients as well.

Responses to the RFI are due Nov. 3rd.

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US-Australia Space Surveillance Telescope Achieves IOC Status; Gen. John Raymond Quoted
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US-Australia Space Surveillance Telescope Achieves IOC Status; Gen. John Raymond Quoted

The U.S. Space Force and the Australian defense department issued an initial operational capability declaration Friday for a ground-based military telescope being used to monitor deep-space objects.

The Space Surveillance Telescope is designed to capture images of faint objects in geosynchronous orbit and is located at Harold E. Holt, a joint naval communication station in Western Australia, the Space Systems Command said Friday.

“Reaching initial operational capability is a major achievement that underscores the importance of working together to secure the ultimate high ground,” said Gen. John “Jay” Raymond, chief of space operations at USSF and a 2022 Wash100 Award recipient.

“I’m impressed at how far we’ve come together and look forward to continuing our close partnership as we work toward full operational capability.”

SSC will maintain ownership, oversight and management of the system, while Australia will continue to provide services related to training, operators, facilities and infrastructure.

MIT Lincoln Laboratory originally built the infrastructure on the White Sands Missile Range in New Mexico with Defense Advanced Research Projects Agency funds between 2002 and 2011.

The U.S. and Australian governments transferred SST to its current location under a memorandum of understanding signed in 2013.

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