FederalDaily - April 3, 2007

SEC Eliminates Two-Tiered Hierarchy

On Monday, six district offices of the Securities and Exchange Commission (SEC) became regional offices reporting directly to SEC headquarters. The change, announced last week, re-designated district offices in Atlanta, Boston, Fort Worth, Philadelphia, Salt Lake City and San Francisco. Other existing regional offices are located in Chicago, Denver, Los Angeles, Miami and New York City. SEC said the new regional designation will aid the former district offices in working at the local level with state and federal regulators, law enforcement agencies and consumer groups. SEC Chairman Christopher Cox said the move, in addition to expanding the authority of the offices, would help to “eliminate the potential for redundancy and overlap in our inspection and enforcement procedures.” For more, go to: www.sec.gov/news/press/2007/2007-59.htm

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Army Reassures Soldiers on BRAC-Mandated Hospital Consolidation

The top civilian in the Army, Acting Secretary Pete Geren, last week reassured Army and other military servicemembers of the wisdom of ongoing improvements the service is making in its health care infrastructure—and particularly those for the future. Geren pointed to the coming relocation of most Washington, D.C.-based Walter Reed Army Medical Center functions to a reconfigured Bethesda Naval Hospital in Maryland as a crucial step in the right direction. “Closing Walter Reed, as required by law in the 2005 Base Closure and Realignment (known as BRAC 2005) by Sept. 15, 2011, will improve the healthcare of our servicemembers and their families,” Geren said. The new hospital will be renamed the Walter Reed National Military Medical Center. BRAC decisionmakers spurned renovating the existing D.C. facility, a press release issued by Geren’s office reminded, as too “costly and disruptive to patients.” Walter Reed’s primary care function will be relocated to a new facility to Ft. Belvoir, in Virginia. “We are committed to maintaining the highest standards of patient care at Walter Reed and will continue to provide seamless, world-class care while transforming our medical facilities,” Geren said. For more, go to: www.army.mil/news.

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Report: DOE Computers, Classified Information Poorly Monitored

A Department of Energy (DOE) Inspector General’s report revealed that the agency’s Counterintelligence Directorate failed to locate 20 desktop computers, 14 of which were “known to have processed classified information.” The report, dated March 28, also said an additional 125 computers were so poorly documented in inventory records (57 were not even listed in the inspection team’s official inventory) that Directorate personnel “had to resort to extraordinary means” to locate them. “Those computers should have been readily accessible, had property recordkeeping been current and complete,” the IG report said. Perhaps most disturbing, the report noted that the Directorate did not flag the items as lost or stolen until the IG inspection revealed their status. In reaction, the IG recommended the implementation of a “robust program of review and evaluation” regarding the usage and inventory procedures governing computers and other sensitive DOE property. DOE IG reports dating back to 2003 have repeatedly warned officials of similar problems. For more, go to: www.ig.energy.gov/documents/IG-0762.pdf.

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TSP Monthly Returns for March 2007

Rates of Return were updated on April 2, 2007.

The monthly G, F, C, S, and I Fund returns represent the actual total rates of return used in the monthly allocation of earnings to participant accounts. The returns are shown after deduction of accrued TSP administrative expenses. The F, C, S, and I Fund returns also reflect the deduction of trading costs and accrued investment management fees. The most current G, F, C, S, and I Fund rates of return are shown above. Returns are updated after the monthly allocation of earnings, usually by the fourth business day of the month.

For more on TSP, click here.

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