The second phase of the project is anticipated to be completed in March 2022. The contract was awarded to Tri-Group Construction and Development, Inc., who had the lowest of six submitted bids with $1,899,805, Trang said. The San Diego-based construction firm has previously worked on other Poway projects, including Valle Verde Park playground renovations and the Poway Road turn pocket extension. You may occasionally receive promotional content from the Pomerado News. Trang said a neighborhood meeting will be held before construction begins, though it is still being coordinated. Councilman John Mullin said he found the contract “almost surreal” and has looked forward to this day, adding he is happy to see the poles come down. Councilman Dave Grosch said the Espola Road project has been part of his entire council career and he is very excited to see the end line. Councilman Barry Leonard said while the project has had missteps, those missteps have improved the look and safety of the project. The council also awarded a $7.3 million contract to G.S.E. Construction Company Inc. for the clearwell bypass project. The project is the first of three water infrastructure projects over the next several years. The bypass project is anticipated to be completed in July 2022. Six bids were received for the project, with G.S.E. Construction Company Inc. declared the lowest responsible bidder at $7,273,700. Shadi Sami, principal civil engineer, said Poway is likely to receive a $1 million grant from Congressman Scott Peters for the project, though the grant decision is not finalized. Approved resolutions to establish assessments for six Poway Landscape Maintenance Districts and the Poway Lighting District, to be collected on the San Diego County Property Tax Roll for fiscal year 2021-22.https://www.sandiegouniontribune.com/pomerado-news/news/story/2021-07-22/second-phase-of-espola-road-project-to-begin-in-september
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on front page Information security and outsourcing guidelines for B.C. financial institutions The BC Financial Services Authority has issued revised drafts of its information security guideline and outsourcing guideline for provincially regulated financial institutions and pension plan administrators in British Columbia. The guidelines will likely require most regulated entities to make significant changes to their information security and outsourcing policies, practices and procedures and amend existing outsourced services contracts. Regulated entities should now be taking steps to prepare for compliance with the guidelines based on appropriate advice from independent and qualified business, legal and technical experts. Information security and outsourcing risks Information security risks are risks of losses and liabilities suffered or incurred by an organization resulting from a failure or breach of the information technology systems used by or on behalf of the organization or its business partners, including incidents that affect the confidentiality, integrity or availability of sensitive or regulated data in the organization’s possession or control. Information security risks can result from internal sources (e.g., employees, contract workers and system failures) or external sources (e.g., hackers, fraudsters and acts of nature). Information security risks are particularly relevant to financial institutions because information technology and data are fundamental to their daily business operations. Outsourcing risks are risks of losses and liabilities suffered or incurred by an organization resulting from a failure by an outsourced service provider to perform services (including business activities, functions and processes) for the organization in accordance with contractual requirements and applicable laws. While outsourcing can provide significant benefits to the outsourcing organization, it can also present substantial risks arising from the organization’s dependence on the outsourced service provider. Over the past few years, Canadian financial industry regulators have emphasized the importance of managing information security and outsourcing risks and have issued related guidance for regulated entities. For example, the Office of the Superintendent of Financial Institutions (OSFI) has issued Guideline B-10: Outsourcing of Business Activities, Functions and Processes; Guideline E-21: Operational Risk Management; Memorandum: New technology-based outsourcing arrangements; Cyber Security Self-Assessment Guidance; and Advisory: Technology and Cyber Security Incident Reporting. The BC Financial Services Authority (BCFSA) is the provincial government regulator for financial institutions (i.e., credit unions, insurance companies and trust companies), pension plans and mortgage brokers in British Columbia, and is responsible for enforcing applicable legislation (e.g., Financial Institutions Act and Pension Benefits Standards Act). In January 2021, BCFSA issued Advisory No. 21-003 to give notice of a consultation process regarding new information security and outsourcing guidelines for provincially regulated financial institutions and pension plan administrators (collectively PRFIs). In June 2021, BCFSA issued Advisory No. 21-015 to give notice of revised draft guidelines and a final consultation period ending July 2021. The draft guidelines reflect BCFSA’s view that information security and outsourcing are key risks for PRFIs and their stakeholders. The draft Information Security Guideline follows the National Institute of Standards and Technology (NIST) Cybersecurity Framework and includes incident reporting obligations similar to those set out in OSFI’s Advisory: Technology and Cyber Security Incident Reporting . Following is a summary of key aspects of the guideline. Principles/expectations: The guideline establishes high-level principles and specific procedures and practices that PRFIs are expected to implement and follow to mitigate information security (IS) risks.https://www.lexology.com/library/detail.aspx?g=2a268ca7-0426-48e0-b884-efe88ab4b562