The independent organization that oversees accreditations under the Defense Department’s new Cybersecurity Maturity Model Certification program has given defense contractors the greenlight to undertake voluntary CMMC assessments as they await a final rule from the DOD.
The Cyber AB — formerly known as the CMMC Accreditation Body — issued a draft document Tuesday detailing the assessment process that third-party organizations will need to follow in certifying that DOD contractors can securely handle the department’s sensitive information, as will soon be required by the CMMC program.
But while that assessment process is in draft form and the Pentagon finalizes its rulemaking for CMMC, contractors in the defense industrial base are now able to undergo voluntary assessments jointly conducted by CMMC-accredited third-party assessment organizations and the DOD’s Defense Industrial Base Cybersecurity Assessment Center (DIBCAC), Matt Travis, CEO of the Cyber AB, told FedScoop.
Travis announced the draft CMMC Assessment Process and the new voluntary assessments under what he called the “joint surveillance voluntary assessment program” at a regularly held Cyber AB town hall meeting Tuesday.
“Back in November, when the department announced the changes to CMMC, they acknowledge that … there’s been investment from DIB companies [that] have already implemented [National Institutes of Standards and Technology Special Publication] 800-171. There’s an ecosystem that’s been built, and they wanted to support voluntary assessments,” Travis told FedScoop.
CMMC is the Pentagon’s ambitious framework to more thoroughly assess and accredit any contractors that handle its controlled unclassified information (CUI) on their systems, ensuring they meet certain National Institutes of Standards and Technology cybersecurity requirements 800-171 and 800-172. After reforming the program late last year, the Pentagon is working on issuing a final rule that will mandate those contractors that work with the department’s CUI be CMMC certified, or risk losing its business.
The new joint voluntary assessments allow for “if you’re a DIB company that has implemented 800-171 and you want to go ahead and get assessed voluntarily — because obviously, without the rulemaking, there are no mandatory requirements yet — you could hire one of the 16 authorized [third-party assessment organizations] to conduct that assessment” along with the partnership, oversight and existing authorities of the DIBCAC, until CMMC has a final rule, Travis said.
Travis said as he understands it, the final rule will include reciprocity provisions so that any contractors that are voluntarily assessed and meet DIBCAC High requirements will be transitioned to a CMMC Level 2 certification.
The draft CMMC Assessment Process explains that, once CMMC’s final rule takes effect, it will be the “doctrine providing the overarching procedures and guidance for CMMC Third-Party Assessment Organizations (C3PAOs) conducting official CMMC Assessments of organizations seeking CMMC Certification.”
The released draft version of the assessment process applies only to level 2 of the CMMC framework. With the introduction of CMMC 2.0 late last year, DOD contractors that handle controlled unclassified information must meet one of three levels of certification, and the majority will fall under levels 1 — which allows a self-assessment — and 2, which requires some contractors to pass an assessment conducted by a third party.
“The CAP, developed and maintained by the CMMC Accreditation Body … is an element of official CMMC canon and adherence to its procedures is required by C3PAOs and their Assessors,” the document reads. “While tailored for specific use by C3PAOs, Certified CMMC Assessors (CCAs), and Certified CMMC Professionals (CCPs), it is intended as a resource for the entire CMMC Ecosystem.”
The process goes on to explain the four phases of an assessment to ensure that it meets the goals of accuracy, fidelity, and quality, maximized consistency among various assessors, and ultimately improved “cybersecurity defensive posture and the cyber resiliency of the DIB.”
Travis called it “a reference that is going to enable consistent assessments.”
“That’s really what the CAP seeks to achieve, is that whether you’re in California or Rhode Island, as a DIB company, you’re gonna get assessed by a C3PAO, the procedures are going to be uniform. Obviously, the environment and from company to company is going to change, but the way assessments under CMMC are conducted will have repeatability and consistency.”
The Cyber AB is accepting comments on the draft for the next 30 days.
“Nothing is going to be final-final until rulemaking is completed,” Travis said. “But we felt like we had a solid enough draft to go out and put it out there in the ecosystem, take some comments over the course of the next month, and then see where we can Excellerate it where we can add more fidelity, where we can clarify things better.”
DOD officials have said they anticipate an interim final rule for CMMC to be issued by March 2023.
It’s been a little over three weeks since AXS Investments launched the first batch of single-stock leveraged and inverse ETFs on the U.S. market.
The debut of the novel products was not without controversy. Shortly before they began trading, several SEC officials released public statements warning of their risks. Days later, the launch went off without a hitch, and it looks like these ETFs will be with us for the foreseeable future—as long as there is demand from investors.
U.S. investors have long been familiar with leveraged and inverse ETFs on indexes and commodities; those have existed for years, and collectively hold billions of dollars of assets under management.
Applying the same types of strategies onto individual stocks is something that is new for the U.S. market, which raised the questions about demand for them. Since these products are so new, would they shoot out of the gate, or would they take a long time to pick up traction?
On the one hand, the eight initial single-stock ETFs that launched in July could be considered shiny new toys that traders are eager to play with. On the other hand, they could be seen as superfluous funds with plenty of index-based leveraged and inverse ETFs already available, like the very popular ProShares UltraPro QQQ (TQQQ), which has nearly $13 billion in assets.
An Early Assessment
Now that they’ve been on the market for a few weeks, we can make an early assessment about the popularity of these funds. The verdict is these funds certainly haven’t shot out of the gate, though they do have some potential, depending on the specific stock targeted.
Far and away the most successful of the single-stock ETFs so far is the AXS TSLA Bear Daily ETF (TSLQ), which has picked up $35.2 million in assets so far. That’s a decent amount of assets, especially given that prices for the ETF have dropped 21.5% since their debut, amid a rally in shares of Tesla.
None of the other single-stock ETFs has gathered more than $2.3 million in assets, regardless of performance. The AXS 1.5X PYPL Bull Daily ETF (PYPT) is the top performer among the bunch, with a 42.9% gain since July 14, but the fund only has $2.1 million in AUM.
PayPal shares surged 11% on Wednesday after the company reported that revenue growth would accelerate later this year. The fintech giant also confirmed activist investor Elliott Management’s $2 billion stake in the company, making it one of their largest shareholders.
Still, CEO Dan Schulman noted the company has “plenty” of headwinds. “We can be more productive,” he said.
Average daily trading volume is another way to measure the popularity of these funds, and it’s telling a similar story. An average of 1.2 million shares of TSLQ are exchanging hands per day, but volume for the other ETFs is paltry, according to data from Bloomberg Intelligence.
Bloomberg analyst Eric Balchunas noted that TSLQ accounts for 97% of the volume in the nascent single-stock ETF category. He sees this as evidence that “trading tools linked to big personalities and/or controversy have highest odds of success.”
Popularity ≠ Performance
Tesla is, of course, a much more exciting and volatile stock than Pfizer or Nike, so it’s easy to see why short-term traders would gravitate toward an inverse ETF tied to that name.
But the strong performance in the AXS 2X NKE Bull Daily ETF (NKEL), up 24.1% since July14, indicates that a leveraged ETF tied to a relatively “sleepy” company like Nike can perform just as well, if not better, than one tied to an “exciting” company like Tesla.
Indeed, for longer holding periods, the math behind daily rebalancing favors less volatile assets. But the irony is that even though leveraged and inverse ETFs on more boring stocks might perform better long term, they probably won’t attract the attention of the traders who would be interested in these risky products to begin with.
At least that’s the conclusion based on this very early data on assets and trading volume for single-stock ETFs. The verdict might change as time goes on and even more of these products come to market.
Dozens more single-stock leveraged and inverse ETFs are in the pipeline, ready to launch in the coming months. Those include funds tied to fast-moving, popular tech stocks like Apple Inc., Microsoft Corp., Amazon.com Inc., Alphabet Inc., Netflix Inc. and Meta Platforms Inc., as well as slower-moving, old economy stocks like Wells Fargo & Co., The Boeing Co. and ConocoPhillips Co.
Time will tell which type of single-stock ETFs resonate with traders and investors.
Follow Sumit Roy on Twitter @sumitroy2
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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
NEW YORK, Aug. 02, 2022 (GLOBE NEWSWIRE) -- OneStep, a first-of-its-kind physical therapy app that leverages smartphone sensors to provide lab-level analysis, today announced the launch of its fall risk detection capabilities. When a person takes a walk with their smartphone in their pocket, even a 30-second walk (no wearables or equipment needed), the app collects a set of gait measurements. If the person’s exact walks show a pattern of gait measurements associated with a risk of falling, the app will alert care providers. This technology is being deployed together with OneStep’s partners, including physical therapy clinics, throughout the US.
According to the US Centers for Disease Control and Prevention ( CDC ), falls are the leading cause of injury and injury death in adults over 65 years of age in the U.S. While fall risk analysis can be a great tool to help seniors maintain independence and prevent injuries, it is valuable for many other populations as well – people with disabilities, post-operative patients, those using lower limb prostheses, patients with neurological disorders, athletes recovering from an injury, people who suffer from vertigo, and other use cases of non-weight-bearing injuries that affect gait.
“OneStep has taken a giant leap forward in what digital health can deliver through motion analysis,” said Tomer Shussman, CEO, OneStep. “Previously, gait speed was one of the only factors assessed to determine if someone was a fall risk, but OneStep enables a multifactorial assessment with gait variability to make a more accurate determination of risk – and data collection is more accurate since a person’s movement is assessed in real-life, over time, not just in a clinic or lab.”
OneStep’s science captures gait analytics using only a smartphone. This allows for consistent remote monitoring in a patient’s natural environment and the ability to track multiple changes in gait over time. Using OneStep, providers that are alerted of a trend that may indicate increased probability of falls, can take immediate action to correct gait impairments, provide assistive devices and implement fall safety education before a medical event occurs. In this way OneStep is enabling providers to extend therapy and care outside of the clinic, and employ an ‘anytime, anywhere’ model.
To determine if someone is at risk of falling, OneStep’s gait technology monitors:
Through its app, OneStep also monitors other gait parameters as vital indicators and predictors of a musculoskeletal, cardiovascular, cognitive and neurological health. These parameters are part of ongoing research efforts to study their correlation with actual falls, which are tracked by OneStep’s physical therapists and provider partners, and to create state-of-the-art, data-driven tools to assess fall risk even more accurately in the future.
OneStep’s gait analysis is the first to capture gait in a natural setting, and its ease of use contributes to making the OneStep gait database the largest and most comprehensive in the world. This goes beyond physical therapy, providing countless opportunities for research around, and development of, new medical treatments and devices.
OneStep enables people to move in a healthier way through our innovative, easy-to-use platform for remote digital physical therapy. Our science turns any smartphone into a motion analysis lab, providing patients with actionable real-time feedback that greatly expedites their rehabilitation. It equips physical therapy providers with clinically-validated remote therapeutic monitoring which improves decision making and provider engagement. OneStep is shifting patient treatment from “once a week at the clinic” to “anytime, all the time”. We serve patients and physical therapists, as well as leading physical therapy providers, surgeon-owned clinics, medical insurance companies, and manufacturers of medical devices. OneStep has demonstrated outstanding clinical outcomes and superior patient satisfaction, while improving provider efficiencies, increasing revenue and lowering costs.
Evergreen & Oak on behalf of OneStep
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ISIP™ studying meets Tier 2 ESSA evidence standards
DALLAS, Aug. 2, 2022 /PRNewswire/ -- Recently, Evidence for ESSA validated Istation's studying assessment meeting Tier 2 ESSA evidence standards (www.evidenceforessa.org). This designation supports a wide range of independent research studies that show Istation as a proven-to-work tool to Excellerate learning outcomes.
Evidence for ESSA provides easy access to information on programs that meet the evidence requirements defined in the Every Student Succeeds Act (ESSA). Aligned with What Works Clearinghouse standards, Tier 2 ESSA standards indicate that Istation's studying assessment shows moderate evidence of being an effective digital learning tool that helps students close significant studying achievement gaps.
Istation's program efficacy was evaluated in a two-year quasi-experimental (matched) study involving 1,234 students in grades 2 through 4. The 617 students who used Istation came from six schools located in a district in the southeast United States. Istation users scored nearly a full point higher on the MAP® Reading™ assessment in comparison with demographically and academically similar students in a virtual control group who did not use Istation. These results show that Istation use was significantly associated with larger studying achievement gains.
"Gaining Tier 2 ESSA evidence is a great milestone as we further build the efficacy of our studying assessments," said Istation Vice President of Research and Assessment Dr. Victoria Locke. "Supporting educators with effective, research-backed digital tools is critical in empowering classrooms everywhere."
Powered by the science of reading, Istation's engaging assessments and instruction cover the National studying Panel's "Big Five" foundational essentials. Istation's ISIP studying assessment is a computer-adaptive testing system that provides actionable and insightful data that measures phonemic awareness, phonics, fluency, comprehension, and vocabulary, as well as many other skills.
Founded in 1998 and based in Dallas, Texas, Istation (Imagination Station) has become one of the nation's leading providers of richly animated, game-like educational technology. Winner of several national educational technology awards, the Istation program puts more instructional time in the classroom through small-group and collaborative instruction. Istation's innovative reading, math and Spanish programs immerse students in an engaging and interactive environment and inspire them to learn. Additionally, administrators and educators can use Istation to easily track the progress of their students, schools and classrooms. Istation now serves over 4 million students throughout the United States and in several other countries.
For more information please contact email@example.com
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HUNTSVILLE, Ala. (WAFF) - If an Alabama law were fully implemented, 12,000 students across the state wouldn’t be moving on to the next grade. They’d be held back.
Last year, a portion of The Alabama Literacy Act went into effect it was created to help Excellerate studying in Alabama public schools. It was also created to ensure students are studying on grade level by the end of the 3rd grade.
After one year, there has been only a small improvement in test scores. There is still a long way to go.
“Without that skill at the end of the third grade, they are four times more likely not to complete high school,” said Senior Research Associate for Public Affairs Research Council of Alabama Thomas Spencer.
Spencer says the 2022 Alabama Comprehensive Assessment Program test scores show that 22 percent of third graders are not studying at a proficient level.
During the 2021 school year, Alabama implemented the Literacy Act curriculum to sharpen the focus on early grades reading.
“Particularly, students with learning disabilities and also students from economically disadvantaged backgrounds end to not come into school with quite the level of preparation and exposure to literature and studying that other kids get,” Spencer said.
According to the test scores, Wilcox County had the lowest test scores, with 58% of third graders falling behind, and the highest test scores were from Mountain Brook City, with just three percent.
“Parents, teachers, and communities need to work together and identify those students who are struggling in studying and wrap the services around them as early as kindergarten,” Spencer said.
Originally, part of the act was to hold back any 3rd-grade student, not at a proficient studying level, but that portion of the act has been delayed until the 2023-24 school year.
You can find a link to the full study here.
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