Featured Stories
SEC Obtains Final Consent Judgment as to Sales Manager Charged in Alleged Fraudulent Oil and Gas Offering
WASHINGTON, June 26 -- The Securities and Exchange Commission issued the following litigation release (No. 3:22-cv-1415; N.D. Tex. filed June 30, 2022):
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Securities and Exchange Commission v. Michael Bowen and Chol Kim a/k/a Brandon Kim, No. 3:22-cv-1415 (N.D. Tex. filed June 30, 2022)
On June 8, 2026, the United States District Court for the Northern District of Texas entered a final judgment by consent as to Michael Bowen, whom the SEC previously charged with making false and misleading statements related to the offer and sale of Cannon Operating Company LLC's securities.
According to
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WASHINGTON, June 26 -- The Securities and Exchange Commission issued the following litigation release (No. 3:22-cv-1415; N.D. Tex. filed June 30, 2022):
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Securities and Exchange Commission v. Michael Bowen and Chol Kim a/k/a Brandon Kim, No. 3:22-cv-1415 (N.D. Tex. filed June 30, 2022)
On June 8, 2026, the United States District Court for the Northern District of Texas entered a final judgment by consent as to Michael Bowen, whom the SEC previously charged with making false and misleading statements related to the offer and sale of Cannon Operating Company LLC's securities.
According tothe SEC's first amended complaint, between January 2018 and September 2020, Cannon and William Glen Baker fraudulently raised approximately $2,182,687 from at least 140 investors through the unregistered offer and sale of working interests in oil and gas wells in Oklahoma. The complaint alleged that, from April 2016 through September 2018, Bowen served as Cannon's chief operating officer and sales manager. The complaint further alleged that, for one of Cannon's offerings, the company's offering materials, which Bowen helped draft, misrepresented the performance of Cannon's prior wells in the same field, failed to disclose sales commissions, and otherwise misstated how investor funds would be used. According to the complaint, Bowen also directed and concealed the payment of the undisclosed sales commissions and acted as an unregistered broker.
Without admitting the allegations in the complaint, Bowen consented to the entry of the final judgment that permanently enjoins him from violating Sections 5 and 17(a)(2) of the Securities Act of 1933 and Section 15(a) of the Securities Exchange Act of 1934 and from participating in the issuance, purchase, offer, or sale of any security except for purchases or sales of securities listed on a national securities exchange for his own personal accounts. In addition, the final judgment orders Bowen to pay disgorgement in the amount of $106,000, prejudgment interest in the amount of $48,827.18, and a civil penalty in the amount of $150,000.
The SEC's litigation was led by Jason Rose and supervised by Keefe Bernstein of the SEC's Fort Worth Regional Office.
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Resources
* Final Judgment - Michael Bowen (https://www.sec.gov/files/litigation/litreleases/2026/judg26575.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26575
FCC to Review E-Rate Program to Ensure It Fulfills Congress's Vision for Great Educational Outcomes
WASHINGTON, June 26 -- The Federal Communications Commission issued the following news release on June 25, 2026:
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FCC to Review E-Rate Program to Ensure it Fulfills Congress's Vision for Great Educational Outcomes
Today, the Federal Communications Commission launched a proceeding that aims to empower parents and better protect children when using networks and services eligible for discounts under the FCC's E-Rate program, including by limiting screen time. The Notice adopted today seeks to ensure that E-Rate-funded networks and services are being used for educational purposes, while also
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WASHINGTON, June 26 -- The Federal Communications Commission issued the following news release on June 25, 2026:
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FCC to Review E-Rate Program to Ensure it Fulfills Congress's Vision for Great Educational Outcomes
Today, the Federal Communications Commission launched a proceeding that aims to empower parents and better protect children when using networks and services eligible for discounts under the FCC's E-Rate program, including by limiting screen time. The Notice adopted today seeks to ensure that E-Rate-funded networks and services are being used for educational purposes, while alsostrengthening E-Rate program integrity and streamlining program administration to support learning opportunities.
Under the FCC's E-Rate program, eligible schools, libraries, and consortia that include eligible schools and libraries, may apply for discounts on eligible telecommunications, Internet access, and internal connections services.
The Notice seeks comment on actions the Commission could take to ensure that the E-Rate program advances student learning outcomes and better protects the online safety of children when using E-Rate-funded networks and services, particularly given the number of hours per day children of all ages now spend online. Recognizing the increased use of the Internet and connected devices by children, including in educational settings, the Notice seeks comment on ways the Commission can ensure that E-Rate program funds are being spent responsibly and for an educational purpose, as required by law.
In addition, the Commission seeks comment on whether its current interpretation of the Children's Internet Protection Act (CIPA) is the best reading of that statute and whether existing CIPA requirements sufficiently protect children from inappropriate and harmful content when using school and library computers to access E-Rate-funded networks. Lastly, the Notice seeks comment on potential legal and policy considerations for assessing children's screen time and protecting children and empowering parents, guardians, and teachers in decision-making involving children's access to E-Rate-funded networks and services.
The Further Notice of Proposed Rulemaking adopted today proposes further actions to strengthen E-Rate program integrity, including by increasing oversight of consultants, streamlining administrative processes, and eliminating certain rules for the COVID-era Emergency Connectivity Fund program.
Under Chairman Carr, the FCC's E-Rate program is undergoing a "top-to-bottom" evaluation. During his tenure, Chairman Carr has rolled back unlawful COVID-era expansions of the program, such as funding for off-campus Wi-Fi hotspots and school bus Wi-Fi, as those actions exceeded the FCC's authority and wasted limited universal service funds. These continuing efforts are part of a larger effort to implement tougher oversight of all USF programs to combat waste, fraud and abuse, and ensure strict program integrity.
Action by the Commission June 25, 2026 by Notice of Proposed Rulemaking (FCC 26-41). Chairman Carr and Commissioner Trusty approving. Commissioner Gomez dissenting in part and approving in part. Chairman Carr, Commissioners Gomez and Trusty issuing separate statements.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-422575A1.pdf
CPSC Issues Recall Alert Involving XW-A17 Electric Youth All-Terrain Vehicles
WASHINGTON, June 26 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: XW-A17 Electric Youth All-Terrain Vehicles (ATVs)
Hazard: The recalled youth ATVs violate the mandatory safety standard for ATVs because they are missing brake lights, reducing visibility of the youth ATV to other vehicles, posing a deadly crash hazard.
Remedy: Repair
Recall Date: June 25, 2026
Units: About 200
Consumer Contact: Yamazuki at 626-420-6433 from 9 a.m. to 5 p.m. PT Monday through Friday, email at info@yamazukipowerports.com, or online at https://yamazukipowersports.com/pages/recall
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WASHINGTON, June 26 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: XW-A17 Electric Youth All-Terrain Vehicles (ATVs)
Hazard: The recalled youth ATVs violate the mandatory safety standard for ATVs because they are missing brake lights, reducing visibility of the youth ATV to other vehicles, posing a deadly crash hazard.
Remedy: Repair
Recall Date: June 25, 2026
Units: About 200
Consumer Contact: Yamazuki at 626-420-6433 from 9 a.m. to 5 p.m. PT Monday through Friday, email at info@yamazukipowerports.com, or online at https://yamazukipowersports.com/pages/recallor https://yamazukipowersports.com/and click "Recall" at the top of the page for more information.
Recall Details
Description: This recall involves XW-A17 Electric Youth ATVs sold under brand names including Sunderwell in blue, green, orange and pink. "Model:XW-A17" is printed on the identification plate located on the front left side of the frame column. "Yamazuki, Inc. certifies that this ATV complies with ANSI/SVIA 1-2023 Standard. "This ATV is subject to the Yamazuki, Inc. ATV Action Plan filed with and approved by the U.S. Consumer Product Safety Commission" is also printed on the identification plate.
Remedy: Consumers should stop using the recalled youth ATVs immediately and contact Yamazuki for a free repair kit.
Incidents/Injuries: None reported
Sold Online At: Amazon.com and Walmart.com from October 2025 through December 2025 for between $500 and $600.
Manufacturer(s): Yongkang Ruihe Metal Products Co. Ltd., of China
Importer(s): Yamazuki Inc., of Ontario, California
Manufactured In: China
Recall number: 26-574
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Original text here: https://www.cpsc.gov/Recalls/2026/Yamazuki-Recalls-Youth-All-Terrain-Vehicles-ATVs-Due-to-Risk-of-Serious-Injury-or-Death-from-Crash-Violate-Mandatory-Standard-for-ATVs
CPSC Issues Recall Alert Involving Treatlife Smoke and Carbon Monoxide Detectors
WASHINGTON, June 26 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Treatlife Smoke and Carbon Monoxide (CO) Detectors
Hazard: The recalled detectors can fail to alert consumers of a fire, posing a risk of serious injury or death from smoke inhalation or burns.
Remedy: Refund
Recall Date: June 25, 2026
Units: About 20
Consumer Contact: Treatlife Technology by email at recall@treatlife.com or online at www.treatlife.tech/pages/recalls or www.treatlife.tech and click on "Recalls" at the bottom of the page for more information.
Recall Details
Description:
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WASHINGTON, June 26 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Treatlife Smoke and Carbon Monoxide (CO) Detectors
Hazard: The recalled detectors can fail to alert consumers of a fire, posing a risk of serious injury or death from smoke inhalation or burns.
Remedy: Refund
Recall Date: June 25, 2026
Units: About 20
Consumer Contact: Treatlife Technology by email at recall@treatlife.com or online at www.treatlife.tech/pages/recalls or www.treatlife.tech and click on "Recalls" at the bottom of the page for more information.
Recall Details
Description:This recall involves Treatlife Smoke and Carbon Monoxide (CO) Detectors. The alarms are AA battery operated and have a colored light and test button. The alarms are white and circular in shape. The FCC ID "2ANDL-XR3" and the date of manufacture "2023.DEC.02" are printed on the bottom side of the alarm.
Remedy: Consumers should contact Treatlife Technology to receive a full refund. Consumers should continue using the recalled detectors until they purchase and install a replacement detector. Once a new detector is installed, consumers should write "recalled" on the recalled product, remove the batteries, dispose of the detector in their household garbage, and dispose of the batteries in accordance with local and state regulations.
Incidents/Injuries: None reported
Sold Online At: Amazon.com from November 2025 through April 2026 for about $40.
Importer(s): Treatlife Technology Co. Ltd., of China
Manufactured In: China
Recall number: 26-582
Fast Track Recall
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Original text here: https://www.cpsc.gov/Recalls/2026/Combination-Smoke-and-Carbon-Monoxide-CO-Detectors-Recalled-Due-to-Risk-of-Serious-Injury-or-Death-from-Failure-to-Alert-Consumers-to-Fire-Sold-Exclusively-on-Amazon-com-by-Treatlife-Technology
CPSC Issues Recall Alert Involving Lomi Roll-On Waxing Kits
WASHINGTON, June 26 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Lomi Roll-On Waxing Kits
Hazard: The roll-on warmers' power cord can overheat and short circuit, posing a risk of serious injury or death from fire, burn and electrical shock hazards.
Remedy: Refund
Recall Date: June 25, 2026
Units: About 14,700 (Southern Telecom previously recalled the waxing kits on June 13, 2024)
Consumer Contact: Southern Telecom toll-free at 888-959-0944 from 8 a.m. to 5 p.m. ET Monday through Friday, email at support@customersupport123.com, or online
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WASHINGTON, June 26 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Lomi Roll-On Waxing Kits
Hazard: The roll-on warmers' power cord can overheat and short circuit, posing a risk of serious injury or death from fire, burn and electrical shock hazards.
Remedy: Refund
Recall Date: June 25, 2026
Units: About 14,700 (Southern Telecom previously recalled the waxing kits on June 13, 2024)
Consumer Contact: Southern Telecom toll-free at 888-959-0944 from 8 a.m. to 5 p.m. ET Monday through Friday, email at support@customersupport123.com, or onlineat https://southerntelecom.com/recall-2026-05-14/ or www.southerntelecom.com and click on "Recall: LOMB2004PK Roll-On Waxing Kit" at the top of the page for more information.
Recall Details
Description: This recall involves the Lomi Roll-On Waxing Kit with Wax Cartridge & Wax Strips, model numbers LOMB2003PK and LOMB2004PK. The recalled boxed kits included a handheld wax warmer, a wax cartridge, wax strips, a power cord and a user's manual. The Lomi logo is printed on the front of the white and pink warmer and on the outside of the product packaging. The model number is printed on a label on the bottom of the wax warmer.
Remedy: Consumers should stop using the recalled waxing kits immediately and contact Southern Telecom for a full refund. Consumers will be asked to destroy the kits by unplugging the warmer's electrical cord, cutting it in half, and upload a photo of the destroyed product, showing the cut electrical cord, to https://support.customersupport123.com/hc/en-us/requests/new. Consumers should then dispose of the destroyed product.
Incidents/Injuries: Southern Telecom has received two additional reports of the warmer power cord overheating. No injuries have been reported.
Sold At: Ross, DD's, Variety Wholesalers and Burlington stores nationwide from February 2025 through December 2025 for about $13.
Importer(s): Southern Telecom Inc., of New York
Manufactured In: China
Recall number: 26-576
Fast Track Recall
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Original text here: https://www.cpsc.gov/Recalls/2026/Southern-Telecom-Expands-Recall-of-Lomi-Waxing-Kits-Due-to-Risk-of-Serious-Injury-or-Death-from-Fire-and-Burn-Hazards-Additional-Model-and-Reported-Incidents
CPSC Issues Recall Alert Involving Kids Kithmas Plaid Lounge Sets
WASHINGTON, June 26 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Kids Kithmas Plaid Lounge Sets
Hazard: The recalled children's loungewear sets violate the mandatory flammability standards for children's sleepwear, posing a risk of serious burn injuries.
Remedy: Refund
Recall Date: June 25, 2026
Units: About 130 (In addition, nine in Canada)
Consumer Contact: Kith Retail by email to recalls@kithnyc.com or online at http://www.kith.com/pages/recall or http://www.kith.com and click on "Recall" at the bottom section of the page for more
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WASHINGTON, June 26 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Kids Kithmas Plaid Lounge Sets
Hazard: The recalled children's loungewear sets violate the mandatory flammability standards for children's sleepwear, posing a risk of serious burn injuries.
Remedy: Refund
Recall Date: June 25, 2026
Units: About 130 (In addition, nine in Canada)
Consumer Contact: Kith Retail by email to recalls@kithnyc.com or online at http://www.kith.com/pages/recall or http://www.kith.com and click on "Recall" at the bottom section of the page for moreinformation.
Recall Details
In Conjunction With:
Description: This recall involves Kith-branded children's loungewear sets. The recalled woven pajamas consist of a long-sleeved shirt with buttons, a front pocket and matching pants. The loungewear sets were sold in black and red plaid print in sizes 9-12 months through XL (14/16). "Kith" is embroidered on the front pocket and left leg of the pants. "Kith Kids" and the size are printed on the sewn-in neck label. "RN140659" and "KHK190026" are printed on the sewn-in side seam label.
Remedy: Consumers should stop using the loungewear immediately and contact Kith Retail for a full refund. Consumers will be asked to destroy the pajamas by cutting them in half and to send a photo of the destroyed pajamas to recalls@kithnyc.com then dispose of the product. Consumers should refer to the instructions at kith.com/pages/recall.
Incidents/Injuries: None reported
Sold At: Kith stores nationwide and online at www.kith.com from December 2025 through January 2026 for about $75.
Importer(s): Kith Retail Inc. of Brooklyn, New York
Manufactured In: India
Recall number: 26-507
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Original text here: https://www.cpsc.gov/Recalls/2026/Kith-Retail-Recalls-Childrens-Loungewear-Sets-Due-to-Risk-of-Serious-Injury-from-Burn-Hazard-Violate-Mandatory-Standards-for-Childrens-Sleepwear
CFTC Seeks Public Comment on Notice of Proposed Rulemaking Concerning Data Reporting Requirements for Certain Event Contracts
WASHINGTON, June 26 -- The Commodity Futures Trading Commission issued the following news release on June 25, 2026:
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CFTC Seeks Public Comment on Notice of Proposed Rulemaking Concerning Data Reporting Requirements for Certain Event Contracts
The Commodity Futures Trading Commission today published a Notice of Proposed Rulemaking seeking public comment on amendments to Part 15, Part 16, and Part 17 of the Commission's regulations.
The proposal sets forth an alternate framework for reporting of data for certain fully collateralized event contracts, which have been the subject of staff
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WASHINGTON, June 26 -- The Commodity Futures Trading Commission issued the following news release on June 25, 2026:
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CFTC Seeks Public Comment on Notice of Proposed Rulemaking Concerning Data Reporting Requirements for Certain Event Contracts
The Commodity Futures Trading Commission today published a Notice of Proposed Rulemaking seeking public comment on amendments to Part 15, Part 16, and Part 17 of the Commission's regulations.
The proposal sets forth an alternate framework for reporting of data for certain fully collateralized event contracts, which have been the subject of staffno-action letters since 2017. These revisions would require certain reporting markets, futures commission merchants, clearing members, and foreign brokers to report certain event contracts pursuant to the regulations in Parts 15 through 18 rather than the reporting regulations contained in certain sections of Parts 38, 39, 43 and 45.
"Under my leadership, the CFTC will no longer regulate market participants through a patchwork of no-action letters, which serve as band-aids for unworkable regulations. This proposal is an important step in future-proofing the regulatory framework for event contracts," said Chairman Michael S. Selig. "Our responsibility is to provide clear, workable regulations, and I'm committed to doing just that."
The proposal would add a new section 16.03, titled "Covered Event Contracts" to Part 16, concerning "Reports by Contract Markets and Swap Execution Facilities." The Proposal would specifically provide for reporting pursuant to SS16.00, SS16.01, Part 17, and Part 18 of the Commission regulations.
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Original text here: https://www.cftc.gov/PressRoom/PressReleases/9261-26
