Featured Stories
Surface Transportation Board Issues Decision Involving 4 Companies
WASHINGTON, Aug. 22 -- The U.S. Department of Transportation Surface Transportation Board issued the following decision (Docket No. FD 36873) entitled "Union Pacific Corp. and Union Pacific Railroad Co. - Control - Norfolk Southern Corp. and Norfolk Southern Railway Co.":
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Decision No. 32
In a decision served on August 18, 2026, the Board, among other things, removed these proceedings from abeyance and adopted a procedural schedule. Union Pac. Corp.--Control-- Norfolk S. Corp., (Decision No. 30), FD 36873 et al., slip op. at 1 (STB served Aug. 18, 2026). The Board also provided guidance
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WASHINGTON, Aug. 22 -- The U.S. Department of Transportation Surface Transportation Board issued the following decision (Docket No. FD 36873) entitled "Union Pacific Corp. and Union Pacific Railroad Co. - Control - Norfolk Southern Corp. and Norfolk Southern Railway Co.":
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Decision No. 32
In a decision served on August 18, 2026, the Board, among other things, removed these proceedings from abeyance and adopted a procedural schedule. Union Pac. Corp.--Control-- Norfolk S. Corp., (Decision No. 30), FD 36873 et al., slip op. at 1 (STB served Aug. 18, 2026). The Board also provided guidanceon deadlines concerning appeals of decisions issued by the Administrative Law Judge (the ALJ) assigned to the case and replies to those appeals. Id. at 11. The decision also provided that "any reply to any motion filed with the Board itself in the first instance must be filed within five calendar days of the date of filing of the motion." As clarification, this statement means that replies to any motion or other pleading filed with the Board after Decision No. 30 on any matter that has not been delegated to the ALJ will be due within five calendar days of filing, unless otherwise specified in the procedural schedule or Board order.
It is ordered:
1. Replies to any motion or other pleading filed with the Board after Decision No. 30 on any matter that has not been delegated to the ALJ will be due within five calendar days of filing, unless otherwise specified in the procedural schedule or Board order.
2. This decision is effective on its service date.
By the Board, Anika S. Cooper, Chief Counsel, Office of Chief Counsel.
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Footnote:
1/ This decision also embraces Union Pacific Corp.--Control--Peoria & Pekin Union Railway, Docket No. FD 36873 (Sub-No. 1).
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Original text here: https://dcms-external.s3.amazonaws.com/DCMS_External_PROD/1787344406827/53210.pdf
SEC Settles Litigation With Individual Charged in Alleged Microcap Fraud Scheme
WASHINGTON, Aug. 22 -- The Securities and Exchange Commission issued the following litigation release:
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Securities and Exchange Commission v. Jonathan Farber et al., No. 24-cv-00273 (S.D.N.Y. filed Jan. 12, 2024)
On August 20, 2026, the United States District Court for the Southern District of New York entered a final consent judgment as to defendant Brian Keasberry in a previously-filed action alleging a fraudulent microcap scheme.
The Commission's complaint, filed on January 12, 2024, alleged that Keasberry and two co-defendants carried out a fraudulent scheme to profit from their
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WASHINGTON, Aug. 22 -- The Securities and Exchange Commission issued the following litigation release:
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Securities and Exchange Commission v. Jonathan Farber et al., No. 24-cv-00273 (S.D.N.Y. filed Jan. 12, 2024)
On August 20, 2026, the United States District Court for the Southern District of New York entered a final consent judgment as to defendant Brian Keasberry in a previously-filed action alleging a fraudulent microcap scheme.
The Commission's complaint, filed on January 12, 2024, alleged that Keasberry and two co-defendants carried out a fraudulent scheme to profit from theiraccumulation, manipulation, and sale of the stock of a small publicly traded company to retail investors. The SEC alleged that, from September 2017 to at least October 2021, Keasberry helped his two co-defendants to gain control of the company and a large amount of the company's stock available in public markets. According to the complaint, Keasberry operated companies, which were used to make payments for an online promotional campaign that touted the stock's great potential but concealed the fact that the defendants had paid for this promotional campaign, controlled the company, and were actively selling the majority of the freely tradable stock.
Keasberry consented to the entry of a final judgment enjoining him from violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, ordering him to pay disgorgement of $37,500, prejudgment interest of $12,864, a civil penalty of $37,500, and imposing a penny stock bar and an officer-and-director bar against him.
The SEC's ongoing litigation is being handled by Marc Jones and Alfred Day in the SEC's Boston Regional Office.
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Resources
* Final Judgment - Brian Keasberry (https://www.sec.gov/files/litigation/litreleases/2026/judg26615.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26615
SEC Charges Former Director of Financial Planning With Insider Trading in Advance of Employer's Earnings Releases
WASHINGTON, Aug. 22 -- The Securities and Exchange Commission issued the following litigation release:
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Securities and Exchange Commission v. Jesse R. Mitchell, No. 26-civ-07111 (S.D.N.Y. filed Aug. 20, 2026)
On August 20, 2026, the Securities and Exchange Commission charged Jesse R. Mitchell, formerly the Senior Director of Financial Planning and Analysis at digital advertising company The Trade Desk, Inc. ("TTD"), with insider trading based on material nonpublic information he obtained through advance receipt of TTD's earnings releases.
According to the SEC's complaint, as a member of
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WASHINGTON, Aug. 22 -- The Securities and Exchange Commission issued the following litigation release:
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Securities and Exchange Commission v. Jesse R. Mitchell, No. 26-civ-07111 (S.D.N.Y. filed Aug. 20, 2026)
On August 20, 2026, the Securities and Exchange Commission charged Jesse R. Mitchell, formerly the Senior Director of Financial Planning and Analysis at digital advertising company The Trade Desk, Inc. ("TTD"), with insider trading based on material nonpublic information he obtained through advance receipt of TTD's earnings releases.
According to the SEC's complaint, as a member ofTTD's financial planning team Mitchell received TTD's quarterly earnings results in advance of their public release. The complaint alleges that, in one instance, Mitchell used that knowledge to purchase 3,850 shares of TTD common stock in advance of the company's positive second quarter 2024 earnings release, then profited nearly $20,000 by selling those shares in the day following the release. As alleged, Mitchell later purchased out-of-the-money put options in advance of TTD's fourth quarter 2024 earnings release, which included the company's first ever revenue guidance miss. According to the complaint, TTD's share price dropped by over 30% the day after it announced the revenue guidance miss, and Mitchell sold his options that day for a profit of over $318,000. As alleged in the complaint, Mitchell's illegal trading activity was done not only while he was in possession of material nonpublic information but was in violation of trading blackout periods imposed by TTD on its employees and, in the second instance, in violation of TTD's explicit and permanent ban on employees trading in TTD options.
The SEC's complaint, filed in the U.S. District Court for the Southern District of New York, charges Mitchell with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The complaint seeks permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, civil penalties, and an officer-and-director bar.
In a parallel action, on August 20, 2026, the U.S. Attorney's Office for the Southern District of New York announced an indictment charging Mitchell with securities fraud.
The SEC's investigation was conducted by Samuel M. Kalar, under the supervision of Celeste A. Chase and Thomas P. Smith, Jr., of the New York Regional Office. The litigation will be led by Paul G. Gizzi and Mr. Kalar, under the supervision of Jack Kaufman. The SEC appreciates the assistance of the United States Attorney's Office for the Southern District of New York, the FBI, and the Financial Industry Regulatory Authority.
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Resources
* SEC Complaint (https://www.sec.gov/files/litigation/litreleases/2026/comp26614.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26614
National Archives: Bradford P. Wilson Confirmed by U.S. Senate as 12th Archivist of the U.S.
WASHINGTON, Aug. 22 -- The National Archives and Records Administration issued the following news release on Aug. 21, 2026:
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Bradford P. Wilson Confirmed by U.S. Senate as 12th Archivist of the United States
The United States Senate voted on August 7, 2026, to confirm Bradford P. Wilson as Archivist of the United States. Wilson was nominated by President Donald J.Trump on March 2, 2026, and received strong bipartisan support following his testimony before the Senate Homeland and Government Affairs Committee.
"I am deeply honored to lead the National Archives and Records Administration,
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WASHINGTON, Aug. 22 -- The National Archives and Records Administration issued the following news release on Aug. 21, 2026:
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Bradford P. Wilson Confirmed by U.S. Senate as 12th Archivist of the United States
The United States Senate voted on August 7, 2026, to confirm Bradford P. Wilson as Archivist of the United States. Wilson was nominated by President Donald J.Trump on March 2, 2026, and received strong bipartisan support following his testimony before the Senate Homeland and Government Affairs Committee.
"I am deeply honored to lead the National Archives and Records Administration,and with the support and trust of President Trump and the United States Senate," said Archivist of the United States Bradford Wilson. "I look forward to working with the professional staff at the National Archives to ensure the preservation of and access to our nation's most important records."
Dr. Wilson previously served as the James Wilson Distinguished Visiting Scholar in Civic Thought in the Center for Constitutional Studies at Utah Valley University. In 2024, he retired from his long-time position as Executive Director of the James Madison Program in American Ideals and Institutions, Lecturer in Politics, and Fellow of Forbes College at Princeton University. Before joining Princeton University, Wilson spent eight years as Acting President and then Executive Director of the National Association of Scholars. He has served as a presidential appointee on the Board of Trustees of the James Madison Memorial Fellowship Foundation and was a Senior Research Fellow in the Witherspoon Institute, President of the Association for the Study of Free Institutions, and Fulbright Senior Scholar in Russia. From 1984 to 1987, he served as Research Associate to two Chief Justices of the United States, Warren E. Burger and William H. Rehnquist.
Wilson received his BA from North Carolina State University, his MA from Northern Illinois University, and his PhD in Politics from The Catholic University of America.
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Original text here: https://www.archives.gov/press/press-releases/nr26-4
Justice Dept. Issues Letter to William & Mary University Counsel Nee
WASHINGTON, Aug. 22 (TNSletter) -- The U.S. Department of Justice issued the following letter to William and Mary University Counsel Carrie Nee:
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Here is the text of the letter:
August 17, 2026
Carrie Nee
University Counsel
William & Mary
Office of University Counsel
James Blair Hall
250 James Blair Dr.
Williamsburg, VA 23186
csnee@wm.edu
Dear Ms. Nee:
The United States Department of Justice is commencing a compliance review investigation of William & Mary ("W&M") pursuant to Title VI of the Civil Rights Act of 1964, 42 U.S.C. Sec. 2000d et seq. Title VI prohibits a recipient
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WASHINGTON, Aug. 22 (TNSletter) -- The U.S. Department of Justice issued the following letter to William and Mary University Counsel Carrie Nee:
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Here is the text of the letter:
August 17, 2026
Carrie Nee
University Counsel
William & Mary
Office of University Counsel
James Blair Hall
250 James Blair Dr.
Williamsburg, VA 23186
csnee@wm.edu
Dear Ms. Nee:
The United States Department of Justice is commencing a compliance review investigation of William & Mary ("W&M") pursuant to Title VI of the Civil Rights Act of 1964, 42 U.S.C. Sec. 2000d et seq. Title VI prohibits a recipientof federal financial assistance from discriminating on the basis of race, color, or national origin. 42 U.S.C. Sec. 2000d. As you know, W&M currently receives federal financial assistance from the Department of Justice and accordingly must abide by Title VI's anti-discrimination requirements. At this time, our investigation will focus on possible race discrimination in W&M's scholarships and financial aid, recruitment, and educational support. Providing any educational benefits, including recruitment, scholarships, and support services, based on race violates the civil rights of all Americans.
The Department recently became aware that W&M offers or administers scholarships and other educational benefits that may include unlawful racial criteria. For example, W&M selects its W&M Scholars, who each "receive a scholarship covering at least the full cost of in-state tuition and fees," with "top consideration" given to "diverse people and perspectives."1 William and Mary Law School ("W&M Law") allegedly awards up to five full scholarships with associated benefits to incoming law students who are graduates of Historically Black Colleges and Universities through its Lemon Legal Scholars Program ("LLSP"). According to a current webpage maintained by W&M Law, LLSP was "[l]aunched in accordance with the Why We Can't Wait Initiative."2 This initiative was described by W&M Law Dean A. Benjamin Spencer as one facet of a "12-part action plan for real and fundamental change."3 This "change" is described as an approach to the "problem of racial justice," with the LLSP listed as a means of supporting "underrepresented students."4 LLSP appears to take its name from the Lemon Project, which is described as "a multifaceted and dynamic attempt to rectify wrongs perpetrated against African Americans by William & Mary through action or inaction."5 Those wrongs are referenced as the university having "owned and exploited slave labor from its founding to the Civil War; and that it had failed to take a stand against segregation during the Jim Crow Era."6
The Department has reviewed other public-facing materials and has reason to believe that W&M may be awarding other scholarships, forms of financial aid, and benefits that include race-based criteria: - W&M's School of Education ("W&M SOE") offers the Martha L. Muguira Fellowship that includes a preference for Hispanic and Latino women.7
* W&M SOE selects Holmes Scholars for specialized mentorship, programming, support, and opportunities to "develop[ ] future education leaders of color."8
* W&M SOE nominates three students for the Virginia Teaching Scholarship Loan Program, which it describes "as an incentive to increase the diversity of persons pursuing careers in teaching."9
* A W&M Law "Dean's Campaign" webpage advertises a Reaching Back Scholarship that has "a preference for those who attended Historically Black Colleges and Universities or who contribute to the diversity of the Law School."10
* A promotional flier for the LLSP and accompanying description posted on October 4, 2022, by the W&M Student Assembly to its Instagram account, advertised a panel discussion, as part of a partnership with "Howard University to bring 15 students to William & Mary Law School to learn about the [LLSP] and promote Black Excellence in the legal field" during a "2-day experience."11
* The mission statement of the Lemon Project says the project "builds bridges between William & Mary and African American communities through research, programming, and supporting students, faculty, and staff."
* The Lemon Project's Donning of the Kente is a graduation ceremony that appears to be nominally open to all but is focused exclusively on black or African American students.12 In conducting the compliance investigation, we will seek to determine whether W&M is violating Title VI. We have not reached any conclusions about the subject matter of the investigation. If we conclude that W&M is not violating Title VI, we will notify you that we are closing the investigation. 28 C.F.R. Sec. 42.107. If we conclude that W&M is violating Title VI, we will inform you and work with you to secure compliance by informal voluntary means. 28 C.F.R. Sec.Sec. 42.107, 42.108. If we cannot secure compliance by voluntary means, we may take formal action to secure compliance, which could include suspending, terminating, or refusing to grant or continue your federal financial assistance, as well as commencing a civil action. 28 C.F.R. Sec. 42.108.
We expect W&M to cooperate fully with this compliance investigation. The Department's Title VI implementing regulations require, among other obligations, that recipients of federal financial assistance permit access by the Department to sources of information and facilities as may be pertinent to ascertain compliance with Title VI and the implementing regulations. 28 C.F.R. Sec. 42.106. These Title VI implementing regulations also require that every application for federal financial assistance be accompanied by an assurance that the program will be conducted in compliance with all requirements that Title VI and the implementing regulations impose. 28 C.F.R. Sec. 42.105. Pursuant to this requirement, W&M signed contractual assurances agreeing to permit the Department to examine records and access other sources of information and facilities.
Pursuant to this authority, we request documents in the attached Request for Information. We ask you to respond to the accompanying Request for Information by providing all responsive documents in an accessible electronic format (such as searchable PDF, Microsoft Word, or Excel) that preserves metadata and allows for efficient review. Electronic versions of documents should be provided to expedite the review process. If certain documents are only available in physical form, please indicate this in your response. Please send the requested information no later than September 8, 2026. If you anticipate challenges meeting this deadline, contact us by August 31 to discuss a small extension and provide a factual justification for said extension request.
Some of the requested materials may contain student information protected under the Family Educational Rights and Privacy Act, 20 U.S.C. Sec. 1232g. The Department of Justice is authorized under 34 C.F.R. Sec. 99.3 l(a)(3)(ii) to obtain such information without prior consent for the purpose of enforcing federal legal requirements, including Title VI. Any information disclosed pursuant to this request will be used solely for compliance review purposes and maintained in accordance with applicable federal confidentiality requirements.
If you have any questions about this letter, please contact Christopher Barnewolt at (202) 709-1055 or Christopher.Barnewolt@usdoj.gov. Thank you in advance for your attention to and cooperation in this compliance investigation.
Regards,
Harmeet K. Dhillon, Assistant Attorney General, Civil Rights Division, United States Department of Justice
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Original text and footnotes here: https://www.justice.gov/crt/media/1458091/dl
News Release here: https://www.justice.gov/opa/pr/justice-department-investigates-william-marys-scholarships-student-benefits-unlawful-race
FEC Issues Digest for Week of Aug. 17-21, 2026
WASHINGTON, Aug. 22 -- The Federal Election Commission issued the following weekly digest:
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Commission meetings and hearings
No open meetings or executive sessions were scheduled this week.
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Litigation
DCCC v. FEC (Case No. 24-2935) On August 14, the Commission filed a Reply in Support of Supplemental Brief, the NRSC filed a Response to DCCC's Supplemental Memorandum, and DCCC filed a Response to Defendant FEC's and Intervenor-Defendant NRSC's Supplemental Memoranda in the U.S. District Court for the District of Columbia.
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Employment opportunities
The Commission is accepting
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WASHINGTON, Aug. 22 -- The Federal Election Commission issued the following weekly digest:
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Commission meetings and hearings
No open meetings or executive sessions were scheduled this week.
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Litigation
DCCC v. FEC (Case No. 24-2935) On August 14, the Commission filed a Reply in Support of Supplemental Brief, the NRSC filed a Response to DCCC's Supplemental Memorandum, and DCCC filed a Response to Defendant FEC's and Intervenor-Defendant NRSC's Supplemental Memoranda in the U.S. District Court for the District of Columbia.
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Employment opportunities
The Commission is acceptingapplications for the position of IT Project Manager (ENTARCH) through September 1, 2026.
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Reports Due in 2026
The Commission has posted the 2026 Congressional Pre-Election Reporting Dates. Reporting schedules for all filers in 2026 are also available.
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Election Dates
The Commission has posted a list of 2026 Congressional Primary Dates.
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Upcoming educational opportunities
September 16, 2026: The Commission is scheduled to host a webinar on Independent Expenditures and Pre-Election Communications.
September 30, 2026: The Commission is scheduled to host FECFile and reporting webinars for candidate committees.
October 7, 2026: The Commission is scheduled to host FECFile and reporting webinars for PACs and party committees.
For more information on upcoming training opportunities, see the Commission's Trainings page.
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Upcoming reporting due dates
September 20: September Monthly Reports are due. For more information, see the 2026 Monthly Reporting schedule.
The Commission has posted filing information regarding the Georgia 13th District Special Runoff Election, scheduled for August 25, 2026.
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Additional research materials
Contribution Limits: In addition to the current limits, the Commission has posted an archive of contribution limits that were in effect going back to the 1975-1976 election cycles.
Federal election results are available. The data was compiled from the official vote totals published by state election offices.
FEC Notify: Want to be notified by email when campaign finance reports are received by the agency? Sign up here.
The Combined Federal State Disclosure and Election Directory is available. This publication identifies the federal and state agencies responsible for the disclosure of campaign finances, lobbying, personal finances, public financing, candidates on the ballot, election results, spending on state initiatives, and other financial filings.
The Presidential Election Campaign Fund Tax Checkoff Chart provides information on balance of the Fund, monthly deposits into the Fund reported by the Department of the Treasury, payments from the Fund as certified by the FEC, and participation rates of taxpayers as reported by the Internal Revenue Service. For more information on the Presidential Public Funding Program, see the Public Funding of Presidential Elections page.
The FEC Record is available as a continuously updated online news source.
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Original text here: https://www.fec.gov/updates/week-of-august-17-21-2026/
FCC Wireline Competition Bureau Issues Public Notice Seeking Nominations for Eight Board Member Positions on Universal Service Administrative Board of Directors
WASHINGTON, Aug. 22 -- The Federal Communications Commission's Wireline Competition Bureau issued the following public notice (CC Docket Nos. 96-45, 97-21):
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Pursuant to section 54.703(c) of the Federal Communications Commission's (Commission's) rules, the Wireline Competition Bureau seeks nominations for the Board member positions on the Board of Directors of the Universal Service Administrative Company (USAC) listed below./1 Each position has a three-year term expiring on December 31, 2029, except where indicated otherwise.
* Representative for incumbent local exchange carriers (other
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WASHINGTON, Aug. 22 -- The Federal Communications Commission's Wireline Competition Bureau issued the following public notice (CC Docket Nos. 96-45, 97-21):
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Pursuant to section 54.703(c) of the Federal Communications Commission's (Commission's) rules, the Wireline Competition Bureau seeks nominations for the Board member positions on the Board of Directors of the Universal Service Administrative Company (USAC) listed below./1 Each position has a three-year term expiring on December 31, 2029, except where indicated otherwise.
* Representative for incumbent local exchange carriers (otherthan the Bell Operating Companies) with annual operating revenues of $40 million or less (position currently held by Kara Semmler, General Counsel and Executive Director, South Dakota Telecommunications Association)
* Representative for interexchange carriers with annual operating revenues of $3 billion or less (position currently held by Brian Dalhover, Vice President of SLED Engineering & Policy, Zayo Group, LLC)
* Representative for competitive local exchange carriers (position currently held by Sheba Chacko, Chief Regulatory Counsel, BT in the Americas)
* Representative for schools that are eligible to receive discounts pursuant to section 54.501 of the Commission's rules (position currently held by Joan Wade, Executive Director, Association of Educational Service Agencies)
* Representative for rural health care providers that are eligible to receive supported services pursuant to section 54.601 of the Commission's rules (position currently held by Katharine Hsu Wibberly, Director, University of Virginia Health System's Mid-Atlantic Telehealth Resource Center)
* Representative for low-income consumers (position currently held by Angela Siefer, Executive Director, National Digital Inclusion Alliance)
* Representative for Tribal communities (position currently held by Mona Thompson, enrolled member of the Cheyenne River Sioux Tribe)
* Representative for interexchange carriers with annual operating revenues of more than $3 billion (position currently vacant)/2
We are persuaded that having Board members with substantive areas of expertise relevant to running a large and complex organization with such skills as accounting, finance, auditing, procurement, data management and information technology will improve the management, administration and oversight of USAC. If members of the relevant industry or non-industry group fail to reach consensus on a candidate to serve on the Board or fail to submit a nomination for the particular Board member seat, the Chairman of the Federal Communications Commission will select an individual from that industry or non-industry group to serve on the Board as outlined in section 54.703(c)(1)./3
Pursuant to section 54.703(c)(2) of the Commission's rules, each nomination must be captioned "In the Matter of: Nomination for Universal Service Administrator's Board of Directors, CC Docket Nos. 97-21 and 96-45."/4 Nominations may be filed using the Commission's Electronic Comment Filing System (ECFS), or by filing paper copies.
* Electronic Filers: Comments may be filed electronically using the Internet by accessing the ECFS: https://www.fcc.gov/ecfs/filings.
* Paper Filers: Parties who choose to file by paper must file an original and one copy of each filing. Because more than one docket appears in the caption of this proceeding, filers must submit two additional copies for the additional docket.
* Filings can be sent by commercial overnight courier, or by first-class or overnight U.S. Postal Service mail. All filings must be addressed to the Commission's Secretary, Office of the Secretary, Federal Communications Commission.
* Commercial overnight mail (other than U.S. Postal Service Express Mail and Priority Mail) must be sent to 9050 Junction Drive, Annapolis Junction, MD 20701
* U.S. Postal Service first-class, Express, and Priority mail must be addressed to 45 L Street, NE, Washington, DC 20554.
People with Disabilities: To request materials in accessible formats for people with disabilities (braille, large print, electronic files, audio format), send an e-mail to fcc504@fcc.gov, or call the Consumer & Government Affairs Bureau at 202-418-0530.
In addition to the electronic or paper filing, copies of each nomination should be submitted to Charles Tyler, Telecommunications Access Policy Division, Wireline Competition Bureau, Federal Communications Commission, via email Charles.Tyler@fcc.gov. Each submission should specify the position of the Board of Directors for which such nomination is submitted and should be accompanied by the nominee's professional and biographical information, such as a resume or professional biography. All nominations must be filed by October 20, 2026.
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Footnotes:
1/ 47 CFR Sec. 54.703(c).
2/ The term for the position representing interexchange carriers with annual operating revenues of more than $3 billion is for one year, expiring on December 31, 2027.
3/ 47 CFR Sec. 54.703(c)(1).
4/ 47 CFR Sec. 54.703(c)(2).
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Original text here: https://docs.fcc.gov/public/attachments/DA-26-877A1.pdf
