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
NRC Proposes Major Update to Radioactive Waste Disposal Rules
WASHINGTON, June 26 -- The Nuclear Regulatory Commission issued the following news release:
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NRC Proposes Major Update to Radioactive Waste Disposal Rules
ROCKVILLE, Md. -- The Nuclear Regulatory Commission today proposed a rule that would establish a clear regulatory pathway for disposing of Greater-Than-Class-C (GTCC) radioactive waste. The proposal aims to resolve a decades-old challenge that has left certain higher-activity radioactive waste without a defined disposal option and stranded at sites across the country.
The proposed rule would modernize the NRC's framework for land disposal
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WASHINGTON, June 26 -- The Nuclear Regulatory Commission issued the following news release:
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NRC Proposes Major Update to Radioactive Waste Disposal Rules
ROCKVILLE, Md. -- The Nuclear Regulatory Commission today proposed a rule that would establish a clear regulatory pathway for disposing of Greater-Than-Class-C (GTCC) radioactive waste. The proposal aims to resolve a decades-old challenge that has left certain higher-activity radioactive waste without a defined disposal option and stranded at sites across the country.
The proposed rule would modernize the NRC's framework for land disposalof low-level radioactive waste by allowing disposal facilities to use site-specific, risk-informed analyses to safely manage a broader range of radioactive materials. These updates would offer greater regulatory flexibility while maintaining rigorous protections for workers, the public, and the environment.
"A strong nuclear sector requires more than reactors--it requires a complete fuel cycle and a clear pathway for managing radioactive waste," NRC Chairman Ho K. Nieh said. "This proposal replaces the dead-end of continued storage with a modern framework that protects people and the environment while supporting the next generation of nuclear technologies. It is an example of how the NRC can uphold its safety mission while adapting to the realities of today's nuclear industry."
The proposal would create new disposal options for GTCC waste, including near-surface and deeper disposal pathways, and update requirements to reflect advances in science, engineering, and waste management practices. These changes would provide generators and disposal facilities a more predictable and durable framework for planning future waste disposal needs.
GTCC waste includes certain higher-activity radioactive materials generated through commercial nuclear operations. Because current regulations do not provide a clear disposal pathway, generators and disposal facilities have faced longstanding regulatory uncertainty.
The NRC will accept public comments on the proposed rule for 45 days following publication in the Federal Register. Comments may be submitted through regulations.gov under Docket ID NRC-2011-0012. The agency also plans to hold a public meeting on the proposal. Details will be announced on the NRC website.
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The U.S. Nuclear Regulatory Commission was created as an expert, technical agency to protect public health, safety, and security, and regulate the civilian use of nuclear materials, including enabling the deployment of nuclear power for the benefit of society. Among other responsibilities, the agency issues licenses, conducts inspections, initiates and enforces regulations, and plans for incident response. The NRC is collaborating with interagency partners to implement reforms outlined in new Executive Orders and the ADVANCE Act to streamline agency activities and enhance efficiency.
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Original text here: https://www.nrc.gov/sites/default/files/cdn/doc-collection-news/2026/26-069.pdf
FDIC Publishes May Enforcement Actions
WASHINGTON, June 26 -- The Federal Deposit Insurance Corporation issued the following news release:
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FDIC Publishes May Enforcement Actions
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The Federal Deposit Insurance Corporation (FDIC) today published a list of orders of administrative enforcement actions taken against banks and individuals in May 2026. There are no administrative hearings scheduled for July 2026.
The FDIC issued 22 orders and one adjudicated decision and order in May 2026. The administrative enforcement actions in those orders consisted of one order to pay civil money penalty; one consent order; five orders terminating
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WASHINGTON, June 26 -- The Federal Deposit Insurance Corporation issued the following news release:
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FDIC Publishes May Enforcement Actions
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The Federal Deposit Insurance Corporation (FDIC) today published a list of orders of administrative enforcement actions taken against banks and individuals in May 2026. There are no administrative hearings scheduled for July 2026.
The FDIC issued 22 orders and one adjudicated decision and order in May 2026. The administrative enforcement actions in those orders consisted of one order to pay civil money penalty; one consent order; five orders terminatingconsent orders; one combined order of prohibition and order for restitution; seven orders of prohibition; six orders terminating a total of 102 Section 19 waiver orders; one order of acceptance of voluntary termination of insured status; and one decision and order.
To view orders, adjudicated decisions and notices and the administrative hearing details online, please visit the FDIC's web page by clicking the link below.
May Enforcement Decisions and Orders
Contact(s)
MediaRequests@fdic.gov
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Original text here: https://www.fdic.gov/news/press-releases/2026/fdic-publishes-may-enforcement-actions
FCC Takes Steps to Modernize the Nation's Alerting Systems
WASHINGTON, June 26 -- The Federal Communications Commission issued the following statement on June 25, 2026, by Chairman Brendan Carr:
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FCC Takes Steps to Modernize the Nation's Alerting Systems
Re: Modernization of the Nation's Alerting Systems; Protecting the Nation's Communications Systems from Cybersecurity Threats; Wireless Emergency Alerts; Amendment of Part 11 of the Commission's Rules Regarding the Emergency Alert System, Report and Order, PS Docket Nos. 25-224 and 22-329, Further Notice of Proposed Rulemaking, PS Docket Nos. 25-224, 15-94, 15-91, (June 25, 2026).
Some folks
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WASHINGTON, June 26 -- The Federal Communications Commission issued the following statement on June 25, 2026, by Chairman Brendan Carr:
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FCC Takes Steps to Modernize the Nation's Alerting Systems
Re: Modernization of the Nation's Alerting Systems; Protecting the Nation's Communications Systems from Cybersecurity Threats; Wireless Emergency Alerts; Amendment of Part 11 of the Commission's Rules Regarding the Emergency Alert System, Report and Order, PS Docket Nos. 25-224 and 22-329, Further Notice of Proposed Rulemaking, PS Docket Nos. 25-224, 15-94, 15-91, (June 25, 2026).
Some folkswill remember more than a decade ago when television viewers in several states received what appeared to be a real emergency alert. The alert informed Americans that "the bodies of the dead are rising from their graves and attacking the living." Thankfully for those of us that aren't Daryl Dixon or Rick Grimes, it was not the beginning of a zombie apocalypse. But it was the result of a cyberattack that allowed bad actors to transmit a false warning over broadcast stations after gaining access to alerting equipment that was protected by default passwords and inadequate security measures.
While the FCC has worked to ensure that vulnerabilities in EAS and WEA are addressed, there have been additional instances of alerting and broadcast systems being compromised or manipulated, including recent attacks that used emergency alert tones and related broadcast equipment to transmit unauthorized content. These attacks are a stark reminder that threats continue to evolve and our work must continue.
Today's item builds on our prior work by taking commonsense steps to strengthen the cybersecurity of our emergency alert systems by addressing the very types of vulnerabilities that enabled the zombie-alert incident in the first place. Requiring stronger password practices, timely software updates, and improved security controls will help reduce opportunities for bad actors to exploit weaknesses in alerting equipment.
Today's item also tees up additional reforms that can improve the integrity, resilience, and effectiveness of emergency alerts, including improving geographic accuracy of alerts, improving the detection and blocking of duplicate alerts, and removing outdated and unnecessary alerting requirements to help encourage broader participation in alerting.
Thanks to Logan Bennett, Steven Carpenter, George Donato, Leon Kenworthy, David Kirschner, Zoe Li, David Munson, Zenji Nakazawa, Austin Randazzo, Tara Shostek, and James Wiley for their work on this item.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-422584A2.pdf
FCC Looks to Streamline Modern, High-Speed Wireline Deployment
WASHINGTON, June 26 -- The Federal Communications Commission issued the following statement on June 25, 2026, by Chairman Brendan Carr:
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FCC Looks to Streamline Modern, High-Speed Wireline Deployment
Re: Build America: Eliminating Barriers to Wireline Deployments, WC Docket No. 25-253, Notice of Proposed Rulemaking (June 25, 2026).
For years, I have advocated for a two-part playbook to ensure America's leadership in 5G and other next generation communications services. First, we need more spectrum in the marketplace. We have made tremendous progress on this front over the last year. Just
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WASHINGTON, June 26 -- The Federal Communications Commission issued the following statement on June 25, 2026, by Chairman Brendan Carr:
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FCC Looks to Streamline Modern, High-Speed Wireline Deployment
Re: Build America: Eliminating Barriers to Wireline Deployments, WC Docket No. 25-253, Notice of Proposed Rulemaking (June 25, 2026).
For years, I have advocated for a two-part playbook to ensure America's leadership in 5G and other next generation communications services. First, we need more spectrum in the marketplace. We have made tremendous progress on this front over the last year. Justthis week, we announced the conclusion of our highly successful AWS-3 auction, where bidding beat expectations with significant per-unit prices and gross winning bids exceeding $3.5 billion. Second, we need permitting reform. Today, we are continuing our work on the latter by tackling unnecessary barriers that slow the deployment of broadband infrastructure.
The reality is straightforward. Americans want faster, better broadband service. If history and today's competitive marketplace tell us anything, providers are ready to invest billions of dollars to meet that demand. And many state and local governments are working on behalf of their communities with industry as partners to ensure that deployment is accelerated and that there are no barriers in the way. In those states and localities, there is a recognition that faster, better broadband unleashes economic growth and provides other opportunities for work and education.
However, there are some jurisdictions where providers continue to face lengthy delays, excessive fees, and unpredictable permitting processes that can postpone projects for months or even years. Those barriers raise costs of deployment or discourage it altogether, leaving consumers on the wrong side of the digital divide.
In response, today's item asks whether the FCC should establish guardrails to ensure that state and local permitting processes are consistent with Section 253 and do not effectively prohibit the provision of telecommunications services. We seek comment on setting a timeline for action on permits, on limiting fees to a reasonable approximation of the government's actual, direct costs of managing the rights-of-way, and on prohibiting the imposition of additional requirements on wireline telecommunications infrastructure deployments on the grounds that they may also be used to provide other services.
At the same time, we have also built in questions to better understand how we can incentivize providers to act quickly on any granted authorizations so that state and local governments have more certainty that deployments will be completed and that their resources are being correctly applied. We have also asked if and how the Commission can incentivize providers to remove old facilities as they upgrade their networks and complete additional deployments to prevent unused infrastructure from being behind. Because at the end of the day, we must ensure that permitting processes work efficiently and predictably for everyone, so that communities can benefit.
I look forward to reviewing the record, and I thank the staff for their work on this item, including Joseph Calascione, Liz Drogula, Jesse Goodwin, Jodie May, Rick Mallen, Malena Barzilai, Sarah Citrin, Paul LaFontaine, Garnet Hanley, and John Lockwood.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-422572A2.pdf
FCC Adopts New Rules to Accelerate the Buildout of Secure Submarine Cable Infrastructure
WASHINGTON, June 26 -- The Federal Communications Commission issued the following news release on June 25, 2026:
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FCC Adopts New Rules to Accelerate the Buildout of Secure Submarine Cable Infrastructure
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The Federal Communications Commission today adopted new rules to unleash submarine cable deployment for the United States. Submarine cable systems move the vast majority of the world's internet traffic and strengthen the nation's capacity to maintain secure, dependable communications across consumer, commercial, and defense sectors.
The new rules adopted will speed up the rollout of
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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 Adopts New Rules to Accelerate the Buildout of Secure Submarine Cable Infrastructure
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The Federal Communications Commission today adopted new rules to unleash submarine cable deployment for the United States. Submarine cable systems move the vast majority of the world's internet traffic and strengthen the nation's capacity to maintain secure, dependable communications across consumer, commercial, and defense sectors.
The new rules adopted will speed up the rollout ofsubmarine cables--the backbone and unsung heroes of the global internet. They also support the essential capacity for the increasing computing demands and connectivity for artificial intelligence. Today's Report and Order enhances submarine cable security and adopts a range of measures to streamline and accelerate the deployment of secure submarine cable infrastructure.
Specifically, the rules adopted today presumptively exempt cable applications from the rigorous Team Telecom licensing review when licensees can certify to high security standards that are structured to increase certainty, predictability, and faster timelines for the licensing process. Currently, all submarine cable applications get referred to Team Telecom, an Executive Branch interagency task force that reviews license applications for national security risks. The changes adopted would exempt applications from applicants that have operated cables without incident, can certify to the highest national security standards, and agree to ongoing oversight and monitoring.
In addition to streamlining deployment, the rules introduce a licensing requirement for owners and operators of submarine line terminal equipment (SLTE), which perform the most critical function of a submarine cable system by connecting the submarine cable system to U.S. terrestrial facilities. This SLTE licensing requirement will ensure FCC oversight of one of the most vulnerable parts of the submarine cable networks.
Finally, the rules will also protect submarine cables by updating safeguards that address vulnerabilities related to principal equipment, third-party service providers, and other areas of concern.
This is the latest milestone in the Commission's ongoing effort to facilitate faster and more efficient submarine cable deployments, while strengthening national security. Today's vote builds on rules unanimously adopted by the Commission last August. That rulemaking was the first comprehensive update to the Commission's submarine cable rules in 25 years.
Action by the Commission June 25, 2026 by Second Report and Order and Second Further Notice of Proposed Rulemaking (FCC 26-42). Chairman Carr, Commissioners Gomez and Trusty approving. Chairman Carr and Commissioner Trusty issuing separate statements.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-422585A1.pdf
CPSC Issues Recall Alert Involving Raychy Children's Light Sneakers Unisex
WASHINGTON, June 26 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Raychy Children's Light Sneakers Unisex
Hazard: The recalled sneakers violate the mandatory standard for consumer products with button cell and coin batteries because the lithium coin batteries can be accessed easily by children, posing an ingestion hazard. Additionally, the packaging and product do not have the warnings required under Reese's Law. When button cell or coin batteries are swallowed, the ingested batteries can cause serious injuries, internal chemical burns, and
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WASHINGTON, June 26 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Raychy Children's Light Sneakers Unisex
Hazard: The recalled sneakers violate the mandatory standard for consumer products with button cell and coin batteries because the lithium coin batteries can be accessed easily by children, posing an ingestion hazard. Additionally, the packaging and product do not have the warnings required under Reese's Law. When button cell or coin batteries are swallowed, the ingested batteries can cause serious injuries, internal chemical burns, anddeath.
Remedy: Refund
Recall Date: June 25, 2026
Units: About 500
Consumer Contact: Carina and Rambo by email at raychyrecall@outlook.com.
Recall Details
Description: This recall involves Raychy Children's Light Sneakers Unisex. The sneakers are available in red, black, and blue, each featuring a distinctive spiderweb-patterned on top of the sneakers and soles that light up when walking. The shoes bear the "Fashion" label printed on the tongue.
Remedy: Consumers should stop using the sneakers immediately and contact Carina and Rambo for a refund. Consumers will be asked to cut the shoe tongue, write "RECALLED" on both sides of the sneakers using a permanent marker, and provide a photo of disposal to raychyrecall@outlook.com in order to receive the refund.
Note: Button cell and coin batteries are hazardous. Batteries should be disposed of or recycled by following local hazardous waste procedures.
Incidents/Injuries: None reported
Sold Online At: Amazon.com in January 2026 for about $28.
Importer(s): Shenzhen Qicheng Trading Co., Ltd., dba Carina and Rambo, of China
Manufactured In: China
Recall number: 26-578
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Original text here: https://www.cpsc.gov/Recalls/2026/Raychy-Childrens-Light-Sneakers-Recalled-Due-to-Risk-of-Serious-Injury-or-Death-from-Battery-Ingestion-Violate-Mandatory-Standard-for-Consumer-Products-with-Coin-Batteries-Imported-by-Carina-and-Rambo
