Targeted News Service

FEC Issues Digest for Week of Sept. 28 - Oct. 2, 2026

WASHINGTON, Oct. 3 -- 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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Advisory Opinions

Request Received and Extension of Time

Advisory Opinion Request 2026-03 (https://www.fec.gov/data/legal/advisory-opinions/2026-03/) (Montana Libertarian Party) On October 2, the Commission made public an advisory opinion request from the Montana Libertarian Party. The requestor asks the Commission to confirm their status as a state committee of a political party under the Federal ... Show Full Article

FCC Issues Daily Digest for Oct. 2

WASHINGTON, Oct. 3 -- The Federal Communications Commission issued the following Daily Digest (Vol. 45, No. 190) on Oct. 2, 2026:

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THE FOLLOWING ITEMS ARE DATED AND RELEASED TODAY:

PUBLIC NOTICES

Report No: REPORT NO. PN-1-261002-01. Released: 2026-10-02. APPLICATIONS. MB. DOC-425551A1.pdf (https://docs.fcc.gov/public/attachments/DOC-425551A1.pdf) DOC-425551A1.txt (https://docs.fcc.gov/public/attachments/DOC-425551A1.txt)

Report No: SAT-02042. Released: 2026-10-02. SATELLITE LICENSING DIVISION AND SATELLITE PROGRAMS AND POLICY DIVISION INFORMATION - SAT - ACCEPTED FOR FILING. SB. Contact: ... Show Full Article

SEC Sanctions Latch Inc. Over Revenue Recognition Failures, Financial Overstatements

WASHINGTON, Oct. 2 -- The Securities and Exchange Commission issued an Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order (File No.: 3-22767) against Latch Inc.

The action resolves administrative proceedings against the Missouri-based maker of smart access hardware and software for multi-family residential properties. Latch agreed to a cease-and-desist order and a $1,000,000 penalty following regulatory findings of improper revenue accounting ... Show Full Article

SEC Commissioner Uyeda Issues Remarks on Proposed Amendments to the Custody Rules

WASHINGTON, Oct. 2 -- The Securities and Exchange Commission issued the following remarks by Commissioner Mark T. Uyeda:

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Statement on Proposed Amendments to the Custody Rules

Oct. 1, 2026

Safeguarding client assets is one of the fundamental investor protections in our regulatory framework against the potential misuse, misappropriation, or loss of client assets. At the same time, our regulations must provide both robust investor protection and operational practicality. Rules that are unworkable in practice will not protect investors but merely provide the illusion of protection.

With ... Show Full Article

SEC Charges Mississippi Man With Fraud in Alleged Marijuana Company Investment Scheme

WASHINGTON, Oct. 2 -- The Securities and Exchange Commission issued the following litigation release:

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Securities and Exchange Commission v. Thomas J. Moore, III, No. 1:26-cv-00286-LG-BWR (S.D. Miss. filed Sept. 30, 2026)

On September 30, 2026, the Securities and Exchange Commission charged Thomas J. Moore, III, a resident of D'Iberville, Mississippi, with misappropriating approximately $1.94 million from approximately 20 individuals in connection with a medical marijuana business Moore primarily owned and controlled.

According to the SEC's complaint, filed in the U.S. District Court for ... Show Full Article WASHINGTON, Oct. 2 -- The Securities and Exchange Commission issued the following litigation release: * * * Securities and Exchange Commission v. Thomas J. Moore, III, No. 1:26-cv-00286-LG-BWR (S.D. Miss. filed Sept. 30, 2026) On September 30, 2026, the Securities and Exchange Commission charged Thomas J. Moore, III, a resident of D'Iberville, Mississippi, with misappropriating approximately $1.94 million from approximately 20 individuals in connection with a medical marijuana business Moore primarily owned and controlled. According to the SEC's complaint, filed in the U.S. District Court forthe Southern District of Mississippi, between at least December 2021 and August 2024, Moore raised approximately $4.94 million from investors to whom he offered and sold equity interests in Mississippi Green Oil, LLC, a Prentiss, Mississippi-based medical marijuana company that he established in or around December 2020, and represented to investors that he would use their money to develop Mississippi Green Oil's business. As alleged, Moore spent approximately $1.94 million of investor funds on personal expenses unrelated to the business of Mississippi Green Oil including jewelry and travel. Moreover, the complaint alleges that Moore also told investors that they would receive short-term profit distributions commensurate with their equity interests but Moore failed to pay investors any distributions. The complaint further alleges that Moore failed to disclose to prospective investors and investors the existence of various related lawsuits filed by other Mississippi Green Oil investors alleging, among other things, failure to return their principal and pay promised distributions.

The SEC's complaint charges Moore with violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The SEC seeks a permanent injunction, a conduct-based injunction, disgorgement with prejudgment interest, and a civil penalty against Moore.

The investigation was conducted by Cecilia Danger and supervised by Jessica M. Weissman, Fernando Torres, and Stephanie N. Moot, all of the SEC's Miami Regional Office. The litigation will be led by Michael Mikulic under the supervision of Russell Koonin.

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Resources

* SEC Complaint (https://www.sec.gov/files/litigation/complaints/2026/comp26663.pdf)

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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26663

SEC Chairman Atkins Issues Remarks on Proposal to Address the Custody of Crypto Assets Under the Investment Advisers Act and the Investment Company Act

WASHINGTON, Oct. 2 -- The Securities and Exchange Commission issued the following remarks by Chairman Paul S. Atkins:

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Statement on Proposal to Address the Custody of Crypto Assets Under the Investment Advisers Act and the Investment Company Act

Oct. 1, 2026

Today, the Commission proposed to close a gap that has left investment advisers and funds guessing how to effect lawful custody of an asset class that their clients increasingly demand. This is another significant step toward bringing our regulatory frameworks into the modern era and fulfilling our commitment to cement the United States ... Show Full Article WASHINGTON, Oct. 2 -- The Securities and Exchange Commission issued the following remarks by Chairman Paul S. Atkins: * * * Statement on Proposal to Address the Custody of Crypto Assets Under the Investment Advisers Act and the Investment Company Act Oct. 1, 2026 Today, the Commission proposed to close a gap that has left investment advisers and funds guessing how to effect lawful custody of an asset class that their clients increasingly demand. This is another significant step toward bringing our regulatory frameworks into the modern era and fulfilling our commitment to cement the United Statesas the crypto capital of the world.

Since the advent of Bitcoin in 2008, the crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class to which investors actively seek exposure. Unfortunately, our rules and regulations have not kept pace. To that end, today's proposal would provide a clear regulatory framework for the custody of crypto assets, giving investment advisers and funds a compliant pathway where none existed before--and replacing the grey of uncertainty created by custody rules crafted for a bygone era.

Many areas of the custody rules under the Investment Advisers Act of 1940 and Investment Company Act of 1940 predate the internet; they were designed to protect the assets of advisory clients and regulated funds from loss, theft, misuse, and misappropriation. Notably, they contemplate the custody and safekeeping only of traditional assets - an untenable situation in the 21st century.

A key protection in the current rules is the required use of permitted custodians. However, with newly developed crypto assets, custodial capabilities may lag an asset's deployment by many months. That is a substantial problem, one which today's proposal intends to solve. In doing so, we will further modernize our regulatory framework, and we will help ensure the United States remains the global leader in crypto innovation for decades to come.

In addition to the proposed crypto-specific custody framework, the proposal would also implement a number of long-needed modernizations of the current investment adviser and regulated fund custody rules. These provisions have not been amended for decades. Therefore, this proposal seeks to ensure that they are fit for purpose and better address current industry practices and feedback.

Today's proposed crypto custody framework is not an isolated initiative. It is another element of a comprehensive crypto asset regulatory approach. It began with ending regulation by enforcement. In December 2025, Commission staff issued a no-action letter to the Depository Trust Company regarding DTC's voluntary securities tokenization pilot program. And in January 2026, Commission staff issued a statement on tokenized securities that provided a clear tokenization taxonomy for the marketplace.

The Commission followed with an interpretation regarding which crypto assets are securities and when crypto assets may cease to be subject to investment contracts. In April, Commission staff published a statement regarding broker-dealer registration implications for certain user interfaces utilized to prepare transactions in tokenized securities. And in August of this year, we proposed Regulation Crypto Assets, which would create a tailored offering regime for certain investment contracts involving crypto assets. Most recently, we introduced an Innovation Exemption, providing a cabined pathway to facilitate the trading of tokenized NMS stock.

These efforts acknowledge that blockchain technology holds the potential to modernize the financial system, and that onchain markets should not be relegated offshore or forced into ill-fitting regulatory models. That said, our work is not finished. More regulatory proposals are on the horizon, and I look forward to continuing to help President Trump cement the United States as the crypto capital of the world.

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Original text here: https://www.sec.gov/newsroom/speeches-statements/atkins-crypto-custody-100126-statement-proposal-address-custody-crypto-assets-under-investment-advisers-act-investment-company

CPSC Issues Recall Alert Involving Metal Wire Bristle Grill Brushes

WASHINGTON, Oct. 2 -- The Consumer Product Safety Commission issued the following recall alert:

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Name of Product: Metal Wire Bristle Grill Brushes

Hazard: Small metal wire bristles can detach from the brushes and stick to the grill or food, posing an ingestion hazard and risk of serious internal injuries that could require surgery.

Remedy: Refund

Recall Date: October 01, 2026

Units: About 4,477,655

Consumer Contact: Walmart toll-free at 800-925-6278 from 7 a.m. to 9 p.m. CT Monday through Friday, or online at www.walmart.com/help or https://corporate.walmart.com/recalls or www.walmart.com ... Show Full Article

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