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SEC Files Proposed Final Judgment as to Company CEO in Alleged Offering Fraud
WASHINGTON, Aug. 7 -- The Securities and Exchange Commission issued the following litigation release:
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Securities and Exchange Commission v. Thompson Hunt and Associates, Ltd., et al., No. 24-cv-6035 (S.D.N.Y. filed Aug. 8, 2024)
On August 6, 2026, the U.S. Securities and Exchange Commission filed a proposed final consent judgment as to Christopher Vaughan in the SEC's civil enforcement action against Thompson Hunt and Associates, Ltd. ("Thompson Hunt"), its founder and Chairman, Carl Arnal (a/k/a Michael Cohen) and its CEO, Vaughan, among others.
The SEC's complaint, filed on August 8,
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WASHINGTON, Aug. 7 -- The Securities and Exchange Commission issued the following litigation release:
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Securities and Exchange Commission v. Thompson Hunt and Associates, Ltd., et al., No. 24-cv-6035 (S.D.N.Y. filed Aug. 8, 2024)
On August 6, 2026, the U.S. Securities and Exchange Commission filed a proposed final consent judgment as to Christopher Vaughan in the SEC's civil enforcement action against Thompson Hunt and Associates, Ltd. ("Thompson Hunt"), its founder and Chairman, Carl Arnal (a/k/a Michael Cohen) and its CEO, Vaughan, among others.
The SEC's complaint, filed on August 8,2024, alleged, among other things, that Vaughan participated in an unregistered offering of Thompson Hunt securities, and made material misrepresentations to investors in the offering, including misrepresentations concerning the uses of investor proceeds.
Without admitting the allegations in the SEC's complaint, Vaughan consented to the entry of a final judgment, which is subject to court approval, that permanently enjoins him from violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Sections 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. In addition, the proposed judgment orders Vaughan to pay a civil penalty of $90,000, and bars Vaughan from serving as an officer or director of a public company.
The SEC's litigation is led by David Zetlin-Jones, Nicholas Karasimas, William Conway, and Sandeep Satwalekar, all of the SEC's New York Regional Office. The matter is being supervised by Mark Sylvester.
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Resources
* Final Judgment (https://www.sec.gov/files/litigation/litreleases/2026/judg26602.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26602
FCC Replaces National Broadcast Ownership Cap
WASHINGTON, Aug. 7 -- The Federal Communications Commission issued the following news release on Aug. 6, 2026:
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FCC Replaces National Broadcast Ownership Cap
New Approach Will Apply a Case-by-Case Review That Only Authorizes Deals That Satisfy the Agency's Public Interest Review Standard
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Today, the Federal Communications Commission voted to repeal its 39% national television multiple ownership rule and replace it with a granular, case-by-case review. This will empower the FCC to approve deals that promote the public interest while allowing the agency to reject any deals that do not
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WASHINGTON, Aug. 7 -- The Federal Communications Commission issued the following news release on Aug. 6, 2026:
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FCC Replaces National Broadcast Ownership Cap
New Approach Will Apply a Case-by-Case Review That Only Authorizes Deals That Satisfy the Agency's Public Interest Review Standard
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Today, the Federal Communications Commission voted to repeal its 39% national television multiple ownership rule and replace it with a granular, case-by-case review. This will empower the FCC to approve deals that promote the public interest while allowing the agency to reject any deals that do notmeet that standard. Through today's action, the Commission exercises its authority to modify the FCC rule for the first time in over 20 years and align it with current market realities.
The video marketplace has changed dramatically with the proliferation of digital platforms--all of which enjoy unrestricted national reach. Streaming services now reach over 80% of U.S. adults and this scale provides them with a competitive edge in terms of attracting investment capital and increased advertising revenue. Eliminating the national cap will allow broadcasters to better compete with these unregulated digital giants. The market also reflects a growing imbalance of power in the network-affiliate relationship, which the national cap intended, but failed to curb, as evidenced by network control over online video carriage, preemption rights and revenue sharing requirements.
In its current formulation, the national cap generally has operated as a blanket prohibition on transactions that would result in the merged entity achieving a national audience reach greater than 39% of television households. As applied, the rule generally presumed that it would not be in the public interest to allow a particular deal in excess of 39%. Shifting from a relatively inflexible, ex ante regulation to a case-by-case assessment will help ensure that the Commission carries out its statutory mandates without having to show special circumstances that would justify a waiver of a rule that no longer serves the public interest.
Under a case-by-case approach, the Commission's interests in localism, viewpoint diversity, and competition (to the extent they are implicated in a case) can be fully analyzed and vindicated in the context of a specific transaction. There may be transactions that would have exceeded the limits of the 39% national cap that do not promote the public interest and those will be denied. On the other hand, there may be transactions that would have exceeded the cap that do promote the public interest and could gain Commission approval.
Today's action reflects the Commission's position that it retains statutory authority to repeal the rule, as multiple agency Chairs--both Republican and Democrat alike--have consistently stated. While Congress has at times directed the Commission to change its rules, Congress has never withdrawn the Commission's authority under the Communications Act to regulate or change ownership limits.
Action by the Commission August 6, 2026 by Report and Order (FCC 26-53). Chairman Carr and Commissioner Trusty approving. Commissioner Gomez dissenting. Chairman Carr, Commissioners Gomez and Trusty issuing separate statements.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-424076A1.pdf
FCC Initiates Comprehensive Review of USF Administration
WASHINGTON, Aug. 7 -- The Federal Communications Commission issued the following statement on Aug. 6, 2026, by Chairman Brendan Carr:
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FCC Initiates Comprehensive Review of USF Administration
Re: Maximizing Efficiencies in the Universal Service Administration, WC Docket No. 26-173, Notice of Proposed Rulemaking (August 6, 2026).
It has been nearly three decades since the FCC designated USAC--the Universal Service Administrative Company--as the administrator for the agency's roughly $9 billion a year Universal Service Fund. The Fund's administrator carries out important functions, including
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WASHINGTON, Aug. 7 -- The Federal Communications Commission issued the following statement on Aug. 6, 2026, by Chairman Brendan Carr:
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FCC Initiates Comprehensive Review of USF Administration
Re: Maximizing Efficiencies in the Universal Service Administration, WC Docket No. 26-173, Notice of Proposed Rulemaking (August 6, 2026).
It has been nearly three decades since the FCC designated USAC--the Universal Service Administrative Company--as the administrator for the agency's roughly $9 billion a year Universal Service Fund. The Fund's administrator carries out important functions, includingbilling, collection, and disbursement of those dollars. In all of that time, there has never been a comprehensive review of USAC's functions or organization. Today, we are taking the next step in our top-to-bottom review of all aspects of the USF by looking at how these programs are being administered.
USAC exists solely as an administrative facilitator and is required to carry out the USF programs in an efficient, effective, and competitively neutral manner. However, based on input in response to the FCC's inquiry earlier this year, and in other proceedings including the Delete, Delete, Delete proceeding, there are areas where improvement could be made. Today's item focuses on improvements in four main areas.
First, the item aims to reform USF administration processes and the Commission's oversight of those processes. Second, we are re-examining USAC's role and responsibilities as administrator. Third, we are taking a closer look at the operating costs of USAC, to ensure limited funding is efficiently used. And fourth, we are evaluating changes to the size, composition, and election of the Board of Directors to address conflicts of interest and their impact on administration. We also propose improvements to other USAC functions, including the audit process.
The main goals of this proceeding are to bring more accountability and transparency to the administration of USF and to make sure our programs are being carried out in an effective manner. This will ensure Americans receive the best bang for their buck on universal service spending--a commonsense win for government efficiency and accountability. Thanks to staff for their hard work on the item, including Joseph Calascione, Sonam James, Divya Shenoy, Stephanie Minnock, Matthew Baker, Bryan Boyle, Jodie Griffin, Andrea Kelly, Steven Fecarotta, D'wana Terry, and Joanna Fister.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-424074A2.pdf
CPSC Issues Recall Alert Involving Space Astronaut LED Finger Lights
WASHINGTON, Aug. 7 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Space Astronaut LED Finger Lights
Hazard: The recalled LED finger lights violate the mandatory safety standard for toys because they contain button cell batteries that can be easily accessed by children. If button cell or coin batteries are swallowed, the ingested batteries can cause serious injuries, including internal chemical burns, and death.
Remedy: Refund
Recall Date: August 06, 2026
Units: About 184
Consumer Contact: Syera by email syerarecallusa@outlook.com.
Recall
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WASHINGTON, Aug. 7 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Space Astronaut LED Finger Lights
Hazard: The recalled LED finger lights violate the mandatory safety standard for toys because they contain button cell batteries that can be easily accessed by children. If button cell or coin batteries are swallowed, the ingested batteries can cause serious injuries, including internal chemical burns, and death.
Remedy: Refund
Recall Date: August 06, 2026
Units: About 184
Consumer Contact: Syera by email syerarecallusa@outlook.com.
RecallDetails
Description: This recall involves Syera-branded LED Finger Lights. They were sold in sets of 28 or 30 multi-colored lights and with 30 astronaut cards. Each finger light has three internal button cell batteries that power astronaut projections when activated. The brand name is printed on the product packaging.
Remedy: Consumers should stop using the recalled toys immediately, take them away from children and contact Syera for a full refund. Consumers will be asked to remove and properly dispose of the finger lights into the trash and send a photo of the disposed product to syerarecallusa@outlook.com.
Note: Button cell batteries are hazardous. Batteries should be disposed of or recycled by following local hazardous waste procedures.
Incidents/Injuries: None reported
Sold Online At: Temu.com from December 2025 through April 2026 for between $8 and $16.
Retailer: Senyu Era International Co. Limited, dba Syera, of China
Manufactured In: China
Recall number: 26-672
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Original text here: https://www.cpsc.gov/Recalls/2026/Syera-Projecting-Finger-Light-Toys-Recalled-Due-to-Risk-of-Serious-Injury-from-Battery-Ingestion-Violate-Mandatory-Standard-for-Toys-Sold-on-TEMU-by-Senyu
CPSC Issues Recall Alert Involving Laziza Dressers
WASHINGTON, Aug. 7 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Laziza Dressers
Hazard: The recalled dressers are unstable if they are not anchored to the wall, posing tip-over and entrapment hazards that can result in risks of serious injuries or death to children. The dressers violate the mandatory safety standard as required by the STURDY Act.
Remedy: Refund
Recall Date: August 06, 2026
Units: About 150
Consumer Contact: Fitueyes by email at lazizadresserrecall@s-homooi.com.
Recall Details
Description: This recall involves Laziza-branded
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WASHINGTON, Aug. 7 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Laziza Dressers
Hazard: The recalled dressers are unstable if they are not anchored to the wall, posing tip-over and entrapment hazards that can result in risks of serious injuries or death to children. The dressers violate the mandatory safety standard as required by the STURDY Act.
Remedy: Refund
Recall Date: August 06, 2026
Units: About 150
Consumer Contact: Fitueyes by email at lazizadresserrecall@s-homooi.com.
Recall Details
Description: This recall involves Laziza-branded3-in-1 Dressers. The wooden dressers were sold in white, dark brown or light brown. Each dresser has three drawers, measures about 31.4 inches long, 15.4 inches wide, 31.9 inches high; and weighs 82 pounds. "Three Drawer Dresser," model number WE11E5080Wx3-W or WE11E5081Rx3-W and batch number SME2025112805 or SME2025102401 are printed on a label on the back of the dresser.
Remedy: Consumers should stop using the recalled dressers immediately if they are not anchored to the wall and place them in an area that children cannot access. Contact Fitueyes for a full refund. Consumers will be asked to write the word "recalled" on the top and all sides of the dresser with a permanent marker and to submit a photo to lazizadresserrecall@s-homooi.com. Consumers should then dispose of the recalled product.
Incidents/Injuries: None reported
Sold Online At: Wayfair.com from March 2024 through April 2026 for about $870.
Importer(s): Fitueyes, Inc., of City of Industry, California
Manufactured In: China
Recall number: 26-676
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Original text here: https://www.cpsc.gov/Recalls/2026/Fitueyes-Recalls-Laziza-Dressers-Due-to-Risk-of-Serious-Injury-or-Death-from-Tip-Over-and-Entrapment-Hazards-Violate-Mandatory-Standard-for-Clothing-Storage-Units
CPSC Issues Recall Alert Involving Courant Spliced Kalimba Climbing Ropes
WASHINGTON, Aug. 7 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Courant Spliced Kalimba Climbing Ropes
Hazard: The spliced termination ends on the recalled ropes can fail unexpectedly, posing a risk of serious injury or death from fall hazard.
Remedy: Replace
Recall Date: August 06, 2026
Units: About 1,050
Consumer Contact: Wichard Groupe North America at 401-683-5055 from 8 a.m. to 4:30 p.m. ET Monday through Friday, by email at safety@wichardgroupe.us or online at https://www.wichardgroupe.us and click on "PRODUCT RECALL: Spliced Kalimba"
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WASHINGTON, Aug. 7 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Courant Spliced Kalimba Climbing Ropes
Hazard: The spliced termination ends on the recalled ropes can fail unexpectedly, posing a risk of serious injury or death from fall hazard.
Remedy: Replace
Recall Date: August 06, 2026
Units: About 1,050
Consumer Contact: Wichard Groupe North America at 401-683-5055 from 8 a.m. to 4:30 p.m. ET Monday through Friday, by email at safety@wichardgroupe.us or online at https://www.wichardgroupe.us and click on "PRODUCT RECALL: Spliced Kalimba"at the top of the page or https://www.wichardgroupe.us/news/post/recall-spliced-kalimba and click on "Product Recall Form" to submit your claim information.
Recall Details
Description: This recall involves Courant Spliced Kalimba climbing ropes with part numbers MH730JZC045 (45m length) lollipop color, MH730JZC050 (50m length), lollipop color MH730JZC060 (60m length) lollipop color, MH730MCC045 (45m length) bubblegum color, MH730MCC050 (50m length) bubblegum color, and MH730MCC060 (60m length) bubblegum color, as well as any additional spliced Kalimba ropes spliced under Courant splicing protocols prior to June 15, 2026. The ropes are designed for tree climbing and pruning and are commonly used by arborists. Each rope can be identified by the brand name, part number, type (diameter) and length listed on the tag attached to the rope ends.
Remedy: Consumers should stop using the recalled ropes immediately and contact Wichard Groupe North America for a free replacement rope, including shipping. Consumers will be asked to complete the registration form at https://www.wichardgroupe.us/news/post/recall-spliced-kalimba to receive a pre-paid shipping label and instructions for returning the recalled product. Consumers will be offered one of two free replacement options; one with immediate availability and the other with availability beginning mid-September.
Incidents/Injuries: The firm has received three reports of splices failing. No injuries have been reported.
Sold At: Vertical Supply Group, Arbsession, RBI Corporation and nationwide retailers from January 2023 through June 2026 for between $250 and $350.
Manufacturer(s): Courant, of Angers, France
Importer(s): Wichard Groupe North America, of North Kingstown, Rhode Island
Manufactured In: France
Recall number: 26-675
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Original text here: https://www.cpsc.gov/Recalls/2026/Wichard-Groupe-North-America-Recalls-Courant-Spliced-Kalimba-Climbing-Ropes-Due-to-Risk-of-Serious-Injury-or-Death-from-Fall-Hazard
CPSC Issues Recall Alert Involving Apeks Second Stage Scuba Regulators
WASHINGTON, Aug. 7 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Apeks Second Stage Scuba Regulators
Hazard: The recalled second stage regulators can restrict air flow to the user at depths exceeding 45 meters (approximately 147 feet), posing risk of serious injury or death from a drowning hazard.
Remedy: Repair
Recall Date: August 06, 2026
Units: About 1,105
Consumer Contact: HEAD Watersports toll free at 800-874-3236 from 9 a.m. to 5 p.m. ET Monday through Friday, email RecallXL4@aqualung.com or online at https://us.apeksdiving.com/pages/recall-information-and-technical-notice,
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WASHINGTON, Aug. 7 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Apeks Second Stage Scuba Regulators
Hazard: The recalled second stage regulators can restrict air flow to the user at depths exceeding 45 meters (approximately 147 feet), posing risk of serious injury or death from a drowning hazard.
Remedy: Repair
Recall Date: August 06, 2026
Units: About 1,105
Consumer Contact: HEAD Watersports toll free at 800-874-3236 from 9 a.m. to 5 p.m. ET Monday through Friday, email RecallXL4@aqualung.com or online at https://us.apeksdiving.com/pages/recall-information-and-technical-notice,https://us.aqualung.com/pages/recall-information, https://www.head.com/en_US/recalls or https://www.head.com/en and click on "Voluntary Recall" at the bottom of the page for more information.
Recall Details
Description: This recall involves Apeks model XL4, XL4+ and XL4 Ocea second stage scuba regulators sold from April 2025 through June 2026. They were sold in various colors or color combinations of black, white, gray, mint or yellow, with serial numbers between 250402212 and 260402893. The serial number is laser-etched on the side of the regulator and also appears on the shipping carton.
Remedy: Consumers should stop using the recalled second stage scuba regulators immediately and bring the product to any HEAD Watersports Authorized Retailer who will replace the valve spindle assembly at no cost to the consumer.
Incidents/Injuries: None reported
Sold At: Authorized Apeks, Aqualung, and HEAD Watersports retailers and online at apeksdiving.com, aqualung.com and head.com from April 2025 through June 2026 for between $260 to $1,140.
Importer(s): HEAD USA, Inc. dba Head Watersports of Delray Beach, Florida
Manufactured In: England
Recall number: 26-677
Fast Track Recall
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Original text here: https://www.cpsc.gov/Recalls/2026/Head-Watersports-Recalls-Apeks-Second-Stage-Scuba-Regulators-Recalled-Due-to-Risk-of-Serious-Injury-or-Death-from-Drowning-Hazard
