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FinCEN Issues Final Rule for Beneficial Ownership Information Reporting Requirement; Janet Yellen Quoted
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FinCEN Issues Final Rule for Beneficial Ownership Information Reporting Requirement; Janet Yellen Quoted

The Department of the Treasury’s Financial Crimes Enforcement Network has issued a final rule requiring certain entities to report information about their beneficial owners to the agency to increase transparency in the U.S. financial system.

The final rule will take effect on Jan. 1, 2024, and implement the Corporate Transparency Act, which requires the disclosure of corporate ownership to help prevent money laundering and other illicit financial activities, FinCEN said Thursday.

In a separate statement, Treasury Secretary Janet Yellen said the final rule builds on years of bipartisan work by Congress, the government and other stakeholders to enhance corporate transparency.

“It will help strengthen our national security by making it more difficult for oligarchs, terrorists, and other global threats to use complex legal structures to launder money, traffic humans and drugs, and commit other crimes that threaten harm to the American people,” Yellen said.

Existing companies will have until Jan. 1, 2025, to file their initial reports while companies created or registered after the rule’s implementation will have 30 days after creation or registration to identify and report beneficial owner information.

FinCEN also plans to establish rules to protect beneficial ownership information and revise its customer due diligence rule to implement the CTA.

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ManTech Selects Matt Tait as New CEO; Kevin Phillips Appointed Chairman
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ManTech Selects Matt Tait as New CEO; Kevin Phillips Appointed Chairman

Established government contracting executive Matt Tait has been appointed CEO and president of defense technology firm ManTech, effective immediately.

Tait has also been voted to ManTech’s board of directors and, in his new role, succeeds the retiring Kevin Phillips, a six-time recipient of the Wash100 Award who has been with the company for 17 years, the Herndon, Virginia-based company said Monday.

“I am honored to assume the CEO role and am energized by the opportunities to advance our leadership position and deliver even stronger outcomes for our customers,” commented Tait.

The executive is a U.S. Navy veteran who, after serving for nearly a decade, transitioned to the private sector to work for Accenture, where he held a number of positions of increasing responsibility — including director of marketing and business operations portfolios as well as senior managing director — for 20 years. At Accenture, Tait oversaw and directed impactful information technology transformations for federal civilian, intelligence and defense community clientele.

At ManTech, where Tait has spent the last four years, the newly promoted leader first served as president of the mission solutions and services group, which saw him reconfiguring and strengthening the company’s national defense, security and federal civilian-aimed services. For the last two years, he has been chief operating officer, in charge of facilitating international business processes and approaches so that the organization can stay current and attuned to the market’s changing needs.

“Matt has been an integral member of our leadership team and my partner over the last four years in developing and executing our strategic plans,” remarked Phillips.

Phillips will stay on with the company as chairman of the board. He emphasized his gratitude for the prosperous years he led the company and predicted that the company will endure continued success under Tait’s leadership.

The leadership changes at ManTech arrive shortly after the company’s acquisition by Carlyle was finalized in September. Now that the sale is complete, ManTech is a private company once again, following a 20-year stint as a public company.

The new organizational shifts additionally include a newly instated board of directors. The complete member list is as follows: Chairman Kevin Phillips; Carlyle Managing Directors Dayne Baird, Brian Bernasek and Ian Fujiyama; Bush International President Mary Bush; former National Security Agency Director of Operations Jonathan Darpy; former Central Intelligence Agency Deputy Director of Operations Beth Kimber; AUSA Deputy Chairman Tom Rabaut; former President of ManTech Mission, Cyber and Intelligence Solutions Group William Varner; and Tait.

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NASA-USGS Earth Mapping Experiment to Use Hyperspectral Imaging Tech
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NASA-USGS Earth Mapping Experiment to Use Hyperspectral Imaging Tech

NASA has teamed up with the U.S. Geological Survey for a five-year, $16 million research project that will use airborne hyperspectral imaging technology to map critical minerals and study their impact on climate change.

The partnership will equip the Earth Resources-2 and Gulfstream V aircraft platforms with the Airborne Visible/Infrared Imaging Spectrometer and Hyperspectral Thermal Emission Spectrometer for the Geological Earth Mapping Experiment, the space agency said Friday.

Both planes will work to collect data on surface minerals in California, Nevada, Arizona, New Mexico and other arid and semi-arid regions in the country.

Scientists will rely on wavelengths of reflected light to map primary rock-forming minerals and observe mineral weathering or alteration.

GEMx expands on the space agency’s Earth Surface Mineral Dust Source Investigation, whose mission is to study the effect of mineral dust on the heating and cooling of the planet.

“This project builds on our 60-year legacy, and can show us where to look for the resources that support our transition to a clean energy economy,” NASA Administrator Bill Nelson explained. 

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IT Industry Council’s Robert Strayer: US Needs Comprehensive Approach to Outbound Investment Screening
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IT Industry Council’s Robert Strayer: US Needs Comprehensive Approach to Outbound Investment Screening

The U.S. government should establish a comprehensive approach to outbound private sector investment screening in order to maintain its leadership in technology, which is a critical element of national security, an Information Technology Industry Council executive told lawmakers.

Robert Strayer, ITI’s executive vice president of policy, testified before the Senate Banking Committee Thursday and offered five recommendations toward a successful outbound investment framework.

U.S. technological leadership “drives innovation, job creation, and economic growth domestically and makes the U.S. more resilient and secure as we continue to set the pace for innovation,” he said.

Strayer said technologies and investments should be examined for specific and targeted national security risks. He also recommended that existing authorities be evaluated and new ones created, if necessary, in order to address gaps implicating national security and streamline capturing of investment transactions.

Strayer urged the government to have regular consultations with the IT industry and provide companies with concrete plans and timelines so that they may be able to adjust their supply chains.

He also suggested the creation of international coalitions governed by dependable investment review policies to ensure fair competition for U.S.-based companies.

Strayer’s testimony is available on video on the Senate Committee’s website.

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DOD Updates Procurement Guidelines on Ukraine Support Contracts
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DOD Updates Procurement Guidelines on Ukraine Support Contracts

The Department of Defense issued new procurement measures on contracts related to providing support to Ukraine following the expiration of the National Interest Action value ‘Ukraine Mission Support’ on Sept. 30. 

In an Oct. 1 memo signed by John Tenaglia, principal director of defense pricing and contracting at the DOD, contracting officers are mandated to enter “Ukraine” in relation to new or modified contracts issued to support Ukraine. The entry will not be on a case-sensitive basis. 

The new directive will help DOD  identify related contract actions as it continues to dole out support to Ukraine over the latter’s tensions with Russia. 

Support includes providing training, logistics support, equipment to the Ukrainian military, actions resulting from the Presidential Drawdown Authority and other security assistance efforts in support of the Ukrainian government.

In March, DOD authorized the Commander of the U.S. European Command to provide humanitarian support to Ukraine resulting in the creation of the NIA code in the Federal Procurement Data System, effective from March 4 until the end of September.

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SBA Names 44 Grantees Under Federal & State Tech Partnership Program
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SBA Names 44 Grantees Under Federal & State Tech Partnership Program

Forty-four organizations across the U.S. have been selected to receive grants from the Small Business Administration to implement state or regional programs aimed at helping increase entrepreneurs’ federal research and development contracting activities.

SBA said Saturday the 2023 cohort of grantees under the Federal and State Technology Partnership Program include state and local economic development entities, small business technology development centers and women’s business centers and educational institutions.

Each organization can qualify to receive up to $125,000 to offer training, technical assistance and mentorship for startup companies, particularly those in underserved communities.

The agency added a dozen awards for the first year of funds and chose 32 FAST awardees from the 2021 cohort for the second and third years of the funding effort. 

Each grant has a one-year base period and four 12-month options.

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KBR to Expand UK Nuclear Energy Support Under Nuclear Waste Services Contract; Paul Kahn Quoted
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KBR to Expand UK Nuclear Energy Support Under Nuclear Waste Services Contract; Paul Kahn Quoted

KBR, the science, technology and engineering company that serves primarily public sector clientele, has received a three-year contract award from UK Nuclear Waste Services to consult on and organize nuclear energy-related initiatives.

The project will entail KBR conducting program and portfolio assistance such as program management, communication and community engagement efforts, the Houston, Texas-headquartered company said Thursday.

“This work underlines our commitment to an ever-growing and increasingly important area of national critical infrastructure,” remarked Paul Kahn, president of the Government Solutions International arm of KBR.

Kahn added that the endeavor is reflective of the company’s aim to sync its business activities with safety and sustainability concerns, saying as well that it represents the next evolution of the company’s growing UK footprint.

During the contracted work, NWS — an agency under the UK Nuclear Decommissioning Authority — will tap in especially into the technical knowledge base of KBR subsidiary Frazer-Nash Consultancy, which specializes in nuclear energy. 

While KBR is an established name in the nuclear energy field, its interest and impact in UK nuclear energy is on the rise and quickly developing. In 2020, the organization had less than 200 team members working on nuclear energy projects in the UK but the count has ballooned to 850 by this year.

The new NWS contract additionally tasks KBR with technical design and digital and transformation strategy creation and execution. Its team will be involved with various responsibilities laid out by the Geological Disposal Facility.

Earlier this month, KBR was selected to participate in a study to produce a carbon-neutral, green ammonia-based power system for a semi-submersible drilling unit operated by Odfjell. Like the NWS contract, this is another in KBR’s sustainability-aimed projects.

As for its British-based activities, in July KBR announced it will lead research and development of self-defending, self-recovering cyber defense concepts for the UK Ministry of Defence. This three-year contract was given to the aforementioned Frazer-Nash subsidiary.

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DIU Solicits Proposals for Tactical Defense Cyber Operations Platform
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DIU Solicits Proposals for Tactical Defense Cyber Operations Platform

The Defense Innovation Unit is seeking potential sources of a tactical defensive cyber operations infrastructure designed to enable warfighters to detect and mitigate digital threats.

DIU said it seeks to develop a platform capable of allowing service members to scan cyberthreats, log management and monitoring data and monitor network devices.

The proposed DCO system must support the aggregation, storing and tagging of relevant data for future analysis, generate analytical reports and work with other cybersecurity tools including endpoint detection and response products.

DIU also envisions the platform to deploy automatically to existing hardware, identify multiple cyberthreats, mitigate and prevent adversarial actions and allow remote defenders to assist cyber operations.

Responses to the area of interest solicitation are due Oct. 13.

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Treasury Department Solicits Comments on Potential Federal Cyber Insurance Program
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Treasury Department Solicits Comments on Potential Federal Cyber Insurance Program

The Department of the Treasury’s Federal Insurance Office is soliciting public feedback on how to assess federal insurance response to catastrophic cyber incidents affecting critical infrastructure.

In a notice posted on the Federal Register, FIO said it wants to determine the potential structure and scope of coverage of such an insurance response in accordance with a recommendation made by the Government Accountability Office in June.

GAO recommended that FIO and the Cybersecurity and Infrastructure Security Agency jointly assess if a federal response is warranted to address financial losses from catastrophic cyber incidents.

FIO seeks to know what types of cyber incidents can be considered catastrophic; how to predict, measure and assess a cyber incident’s financial impact; what structures should be considered for a federal insurance response; and what measures must be adopted to prevent cyberattacks.

Comments are due Nov. 14.

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GovCon Expert Jerry McGinn Co-Writes Feature Detailing Importance of Transatlantic Industrial Resilience
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GovCon Expert Jerry McGinn Co-Writes Feature Detailing Importance of Transatlantic Industrial Resilience

Jerry McGinn, executive director of the Center for Government Contracting at George Mason University’s School of Business and a key member of Executive Mosaic’s GovCon Expert program, recently co-wrote an opinion piece exploring the highly debated issue of having the necessary defense capabilities across the United States and Europe to meet the needs of NATO and other member states.

GovCon Expert Jerry McGinn, a two-time Wash100 Award recipient, co-wrote the new feature for DefenseNews with Daniel Fata, a nonresident senior adviser at the Center for Strategic and International Studies, to discuss the real opportunity for the U.S. and its NATO allies to solidify lasting transatlantic industrial resilience for the future.

In the latest feature, GovCon Expert Jerry McGinn and Daniel Fata highlighted the upcoming meeting of NATO’s armament directors, including fellow 2022 Wash100 winner Bill LaPlante, undersecretary of Defense for acquisition and sustainment, to discuss the necessary weapons and technology that the Ukraine and US allies need for their own militaries.

“Ensuring that Ukraine, as well as all NATO members, have the equipment and material they need is at the heart of self-defense as well as NATO’s Article V collective defense commitment,” they explained. “Defense industrial base capacity is an issue that is not going to go away.”

The two executives emphasized that this week’s sessions at NATO are a significant opportunity to begin the necessary policy and regulatory adjustments to prioritize defense production in three essential areas, including the obsolescence issues that exist across the transatlantic space as well as the modification of foreign military sales to accelerate the process and build industrial resilience before a crisis occurs in the near future.

By prioritizing actions such as these, U.S. and allied leaders will get the industrial base capacity needed to ensure weapon availability for fights today and tomorrow,” Jerry McGinn and Data explained. “Now is the time to build in resilience to existing and future defense programs…It is critical to our collective future.”

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