Federal Regulatory Agencies
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USITC Makes Determinations in Five-Year Reviews Concerning Passenger Vehicle and Light Truck Tires From China
WASHINGTON, June 24 (TNSrep) -- The U.S. International Trade Commission issued the following news release on June 23, 2026:
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USITC Makes Determinations in Five-Year (Sunset) Reviews Concerning Passenger Vehicle and Light Truck Tires from China
The U.S. International Trade Commission (Commission or USITC) today determined that revoking the existing antidumping and countervailing duty orders on passenger vehicle and light truck tires from China would likely lead to continuation or recurrence of material injury within a reasonably foreseeable time.
As a result of the Commission's affirmative ... Show Full Article WASHINGTON, June 24 (TNSrep) -- The U.S. International Trade Commission issued the following news release on June 23, 2026: * * * USITC Makes Determinations in Five-Year (Sunset) Reviews Concerning Passenger Vehicle and Light Truck Tires from China The U.S. International Trade Commission (Commission or USITC) today determined that revoking the existing antidumping and countervailing duty orders on passenger vehicle and light truck tires from China would likely lead to continuation or recurrence of material injury within a reasonably foreseeable time. As a result of the Commission's affirmativedeterminations, the existing orders on imports of this product from China will remain in place.
Commissioners Jason E. Kearns and Amy A. Karpel voted in the affirmative. Chairman David S. Johanson voted in the negative.
Today's action comes under the five-year (sunset) review process required by the Uruguay Round Agreements Act. See the attached page for background on these five-year (sunset) reviews.
The Commission's public report, Passenger Vehicle and Light Truck Tires from China (Inv. Nos. 701-TA-522 and 731-TA-1258 (Second Review), USITC Publication 5760, July 2026), will contain the views of the Commission and information developed during the reviews.
The report will be available on the USITC website (https://www.usitc.gov/commission_publications_library) by July 30, 2026.
BACKGROUND
The Uruguay Round Agreements Act requires the Department of Commerce to revoke an antidumping or countervailing duty order, or terminate a suspension agreement, after five years unless the Department of Commerce and the USITC determine that revoking the order or terminating the suspension agreement would be likely to lead to continuation or recurrence of dumping or subsidies (Commerce) and of material injury (USITC) within a reasonably foreseeable time.
The Commission's institution notice in five-year reviews requests that interested parties file responses with the Commission concerning the likely effects of revoking the order under review as well as other information. Generally, within 95 days from institution, the Commission will determine whether the responses it has received reflect an adequate or inadequate level of interest in a full review. If responses to the USITC's notice of institution are adequate, or if other circumstances warrant a full review, the Commission conducts a full review, which includes a public hearing and issuance of questionnaires.
The Commission generally does not hold a hearing or conduct further investigative activities in expedited reviews. Commissioners base their injury determination in expedited reviews on the facts available, including the Commission's prior injury and review determinations, responses received to its notice of institution, data collected by staff in connection with the reviews, and information provided by the Department of Commerce.
The five-year (sunset) reviews concerning Passenger Vehicle and Light Truck Tires from China were instituted on January 2, 2026.
On April 7, 2026, the Commission determined to conduct expedited five-year reviews. Chairman David S. Johanson and Commissioners Jason E. Kearns and Amy A. Karpel concluded that the domestic interested party group responses were adequate and the respondent interested party group responses were inadequate. Chairman Johanson voted for full reviews; Commissioners Kearns and Karpel voted for expedited reviews.
A record of the Commission's vote to conduct expedited reviews is available on the investigations page for Passenger Vehicle and Light Truck Tires from China; Inv. No. 701-TA-522 and 731-TA-1258 (Review 2) (https://ids.usitc.gov/case/4190/investigation/8849).
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Original text here: https://www.usitc.gov/press_room/news_release/2026/er0623_68791.htm
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USITC Makes Determinations in Five-Year (Sunset) Reviews Concerning Passenger Vehicle and Light Truck Tires from China
The U.S. International Trade Commission (Commission or USITC) today determined that revoking the existing antidumping and countervailing duty orders on passenger vehicle and light truck tires from China would likely lead to continuation or recurrence of material injury within a reasonably foreseeable time.
As a result of the Commission's affirmative ... Show Full Article WASHINGTON, June 24 (TNSrep) -- The U.S. International Trade Commission issued the following news release on June 23, 2026: * * * USITC Makes Determinations in Five-Year (Sunset) Reviews Concerning Passenger Vehicle and Light Truck Tires from China The U.S. International Trade Commission (Commission or USITC) today determined that revoking the existing antidumping and countervailing duty orders on passenger vehicle and light truck tires from China would likely lead to continuation or recurrence of material injury within a reasonably foreseeable time. As a result of the Commission's affirmativedeterminations, the existing orders on imports of this product from China will remain in place.
Commissioners Jason E. Kearns and Amy A. Karpel voted in the affirmative. Chairman David S. Johanson voted in the negative.
Today's action comes under the five-year (sunset) review process required by the Uruguay Round Agreements Act. See the attached page for background on these five-year (sunset) reviews.
The Commission's public report, Passenger Vehicle and Light Truck Tires from China (Inv. Nos. 701-TA-522 and 731-TA-1258 (Second Review), USITC Publication 5760, July 2026), will contain the views of the Commission and information developed during the reviews.
The report will be available on the USITC website (https://www.usitc.gov/commission_publications_library) by July 30, 2026.
BACKGROUND
The Uruguay Round Agreements Act requires the Department of Commerce to revoke an antidumping or countervailing duty order, or terminate a suspension agreement, after five years unless the Department of Commerce and the USITC determine that revoking the order or terminating the suspension agreement would be likely to lead to continuation or recurrence of dumping or subsidies (Commerce) and of material injury (USITC) within a reasonably foreseeable time.
The Commission's institution notice in five-year reviews requests that interested parties file responses with the Commission concerning the likely effects of revoking the order under review as well as other information. Generally, within 95 days from institution, the Commission will determine whether the responses it has received reflect an adequate or inadequate level of interest in a full review. If responses to the USITC's notice of institution are adequate, or if other circumstances warrant a full review, the Commission conducts a full review, which includes a public hearing and issuance of questionnaires.
The Commission generally does not hold a hearing or conduct further investigative activities in expedited reviews. Commissioners base their injury determination in expedited reviews on the facts available, including the Commission's prior injury and review determinations, responses received to its notice of institution, data collected by staff in connection with the reviews, and information provided by the Department of Commerce.
The five-year (sunset) reviews concerning Passenger Vehicle and Light Truck Tires from China were instituted on January 2, 2026.
On April 7, 2026, the Commission determined to conduct expedited five-year reviews. Chairman David S. Johanson and Commissioners Jason E. Kearns and Amy A. Karpel concluded that the domestic interested party group responses were adequate and the respondent interested party group responses were inadequate. Chairman Johanson voted for full reviews; Commissioners Kearns and Karpel voted for expedited reviews.
A record of the Commission's vote to conduct expedited reviews is available on the investigations page for Passenger Vehicle and Light Truck Tires from China; Inv. No. 701-TA-522 and 731-TA-1258 (Review 2) (https://ids.usitc.gov/case/4190/investigation/8849).
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Original text here: https://www.usitc.gov/press_room/news_release/2026/er0623_68791.htm
SEC Charges New Jersey Man, His Company in Connection With Alleged Insider Trading
WASHINGTON, June 24 -- The Securities and Exchange Commission issued the following litigation release (No. 2:26-cv-07525; D.N.J. filed June 23, 2026):
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Securities and Exchange Commission v. Justin Jennings and Vortex Strategies LLC, No. 2:26-cv-07525 (D.N.J. filed June 23, 2026)
On June 23, 2026, the Securities and Exchange Commission charged Justin Jennings and Vortex Strategies LLC, a Wyoming limited liability company Jennings owned and controlled, with insider trading based on material nonpublic information Jennings allegedly misappropriated from his romantic partner and used to trade ... Show Full Article WASHINGTON, June 24 -- The Securities and Exchange Commission issued the following litigation release (No. 2:26-cv-07525; D.N.J. filed June 23, 2026): * * * Securities and Exchange Commission v. Justin Jennings and Vortex Strategies LLC, No. 2:26-cv-07525 (D.N.J. filed June 23, 2026) On June 23, 2026, the Securities and Exchange Commission charged Justin Jennings and Vortex Strategies LLC, a Wyoming limited liability company Jennings owned and controlled, with insider trading based on material nonpublic information Jennings allegedly misappropriated from his romantic partner and used to tradein advance of several corporate announcements.
According to the SEC's complaint, between February 2022 and October 2024, Jennings misappropriated inside information from his then-romantic partner, an account executive who worked at a strategic communications and investor relations firm. As alleged, Jennings used his romantic partner's work-issued laptop computer to access material nonpublic information, including information related to mergers and acquisitions, earnings announcements, and other significant corporate events involving several of the communication and investor relations firm's public company clients, without her authorization. The complaint further alleges that, based on this confidential information, Jennings used his personal brokerage account and an account in the name of Vortex to purchase the securities of eight public companies ahead of significant corporate disclosures and made illicit profits of approximately $2.7 million.
The SEC's complaint, filed in U.S. District Court for the District of New Jersey, charges Jennings and Vortex with violating the antifraud provisions of Section 10(b) of the Exchange Act of 1934 and Rule 10b-5 thereunder, and seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against them.
In a parallel action, the U.S. Attorney's Office for the District of New Jersey announced criminal charges against Jennings.
The SEC's investigation was conducted by David Bennett of the Division of Enforcement's Market Abuse Unit and Julia Huseman and Nikolay Vydashenko of the SEC's Fort Worth Regional Office with assistance from John Rymas of the Market Abuse Unit's Analysis & Detection Center. The matter was supervised by Jaime Marinaro and Joseph G. Sansone. The litigation will be led by Jason Rose and supervised by Keefe Bernstein, both of the Fort Worth Regional Office.
The staff appreciates the assistance of the Financial Industry Regulatory Authority (FINRA), the Federal Bureau of Investigation, and the U.S. Attorney's Office for the District of New Jersey.
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Resources
* SEC Complaint (https://www.sec.gov/files/litigation/complaints/2026/comp26570.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26570
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Securities and Exchange Commission v. Justin Jennings and Vortex Strategies LLC, No. 2:26-cv-07525 (D.N.J. filed June 23, 2026)
On June 23, 2026, the Securities and Exchange Commission charged Justin Jennings and Vortex Strategies LLC, a Wyoming limited liability company Jennings owned and controlled, with insider trading based on material nonpublic information Jennings allegedly misappropriated from his romantic partner and used to trade ... Show Full Article WASHINGTON, June 24 -- The Securities and Exchange Commission issued the following litigation release (No. 2:26-cv-07525; D.N.J. filed June 23, 2026): * * * Securities and Exchange Commission v. Justin Jennings and Vortex Strategies LLC, No. 2:26-cv-07525 (D.N.J. filed June 23, 2026) On June 23, 2026, the Securities and Exchange Commission charged Justin Jennings and Vortex Strategies LLC, a Wyoming limited liability company Jennings owned and controlled, with insider trading based on material nonpublic information Jennings allegedly misappropriated from his romantic partner and used to tradein advance of several corporate announcements.
According to the SEC's complaint, between February 2022 and October 2024, Jennings misappropriated inside information from his then-romantic partner, an account executive who worked at a strategic communications and investor relations firm. As alleged, Jennings used his romantic partner's work-issued laptop computer to access material nonpublic information, including information related to mergers and acquisitions, earnings announcements, and other significant corporate events involving several of the communication and investor relations firm's public company clients, without her authorization. The complaint further alleges that, based on this confidential information, Jennings used his personal brokerage account and an account in the name of Vortex to purchase the securities of eight public companies ahead of significant corporate disclosures and made illicit profits of approximately $2.7 million.
The SEC's complaint, filed in U.S. District Court for the District of New Jersey, charges Jennings and Vortex with violating the antifraud provisions of Section 10(b) of the Exchange Act of 1934 and Rule 10b-5 thereunder, and seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against them.
In a parallel action, the U.S. Attorney's Office for the District of New Jersey announced criminal charges against Jennings.
The SEC's investigation was conducted by David Bennett of the Division of Enforcement's Market Abuse Unit and Julia Huseman and Nikolay Vydashenko of the SEC's Fort Worth Regional Office with assistance from John Rymas of the Market Abuse Unit's Analysis & Detection Center. The matter was supervised by Jaime Marinaro and Joseph G. Sansone. The litigation will be led by Jason Rose and supervised by Keefe Bernstein, both of the Fort Worth Regional Office.
The staff appreciates the assistance of the Financial Industry Regulatory Authority (FINRA), the Federal Bureau of Investigation, and the U.S. Attorney's Office for the District of New Jersey.
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Resources
* SEC Complaint (https://www.sec.gov/files/litigation/complaints/2026/comp26570.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26570
Polypropylene Corrugated Boxes From Vietnam Injure U.S. Industry, Says USITC
WASHINGTON, June 24 -- The U.S. International Trade Commission issued the following news release on June 23, 2026:
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Polypropylene Corrugated Boxes from Vietnam Injure U.S. Industry, Says USITC
The U.S. International Trade Commission (Commission or USITC) today determined that a U.S. industry is materially injured by reason of imports of polypropylene corrugated boxes from Vietnam that the U.S. Department of Commerce (Commerce) has determined are sold in the United States at less than fair value.
Chairman David S. Johanson and Commissioners Jason E. Kearns and Amy A. Karpel voted in the ... Show Full Article WASHINGTON, June 24 -- The U.S. International Trade Commission issued the following news release on June 23, 2026: * * * Polypropylene Corrugated Boxes from Vietnam Injure U.S. Industry, Says USITC The U.S. International Trade Commission (Commission or USITC) today determined that a U.S. industry is materially injured by reason of imports of polypropylene corrugated boxes from Vietnam that the U.S. Department of Commerce (Commerce) has determined are sold in the United States at less than fair value. Chairman David S. Johanson and Commissioners Jason E. Kearns and Amy A. Karpel voted in theaffirmative.
As a result of the Commission's affirmative determination, Commerce will issue an antidumping duty order on imports of this product from Vietnam.
The Commission also made a negative critical circumstances determination with respect to the subject imports from Vietnam for which Commerce had made a final affirmative critical circumstances finding in its antidumping duty investigation.
The Commission's public report, Polypropylene Corrugated Boxes from Vietnam (Inv. No. 731-TA-1738 (Final), USITC Publication 5759, July 2026), will contain the views of the Commission and information developed during the investigation.
The report will be available on the USITC website by August 3, 2026.
Status of proceedings, links to relevant documents, and more information about the investigations can be found on the Commission's Investigations Database System (IDS).
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Original text here: https://www.usitc.gov/press_room/news_release/2026/er0623_68792.htm
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Polypropylene Corrugated Boxes from Vietnam Injure U.S. Industry, Says USITC
The U.S. International Trade Commission (Commission or USITC) today determined that a U.S. industry is materially injured by reason of imports of polypropylene corrugated boxes from Vietnam that the U.S. Department of Commerce (Commerce) has determined are sold in the United States at less than fair value.
Chairman David S. Johanson and Commissioners Jason E. Kearns and Amy A. Karpel voted in the ... Show Full Article WASHINGTON, June 24 -- The U.S. International Trade Commission issued the following news release on June 23, 2026: * * * Polypropylene Corrugated Boxes from Vietnam Injure U.S. Industry, Says USITC The U.S. International Trade Commission (Commission or USITC) today determined that a U.S. industry is materially injured by reason of imports of polypropylene corrugated boxes from Vietnam that the U.S. Department of Commerce (Commerce) has determined are sold in the United States at less than fair value. Chairman David S. Johanson and Commissioners Jason E. Kearns and Amy A. Karpel voted in theaffirmative.
As a result of the Commission's affirmative determination, Commerce will issue an antidumping duty order on imports of this product from Vietnam.
The Commission also made a negative critical circumstances determination with respect to the subject imports from Vietnam for which Commerce had made a final affirmative critical circumstances finding in its antidumping duty investigation.
The Commission's public report, Polypropylene Corrugated Boxes from Vietnam (Inv. No. 731-TA-1738 (Final), USITC Publication 5759, July 2026), will contain the views of the Commission and information developed during the investigation.
The report will be available on the USITC website by August 3, 2026.
Status of proceedings, links to relevant documents, and more information about the investigations can be found on the Commission's Investigations Database System (IDS).
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Original text here: https://www.usitc.gov/press_room/news_release/2026/er0623_68792.htm
NRC Proposes Major Modernization of Nuclear Security Requirements
WASHINGTON, June 24 -- The Nuclear Regulatory Commission issued the following news release on June 23, 2026:
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NRC Proposes Major Modernization of Nuclear Security Requirements
ROCKVILLE, Md. -- The Nuclear Regulatory Commission today proposed sweeping updates to its security and fitness-for-duty regulations that would replace decades-old prescriptive requirements with a modern, performance-based framework designed to address credible risks, support advanced reactor technologies, and reduce unnecessary regulatory burden while maintaining strong security protections. The proposal is part ... Show Full Article WASHINGTON, June 24 -- The Nuclear Regulatory Commission issued the following news release on June 23, 2026: * * * NRC Proposes Major Modernization of Nuclear Security Requirements ROCKVILLE, Md. -- The Nuclear Regulatory Commission today proposed sweeping updates to its security and fitness-for-duty regulations that would replace decades-old prescriptive requirements with a modern, performance-based framework designed to address credible risks, support advanced reactor technologies, and reduce unnecessary regulatory burden while maintaining strong security protections. The proposal is partof the NRC's implementation of Executive Order 14300 and represents one of the agency's most significant efforts to modernize nuclear security requirements in recent years.
"For too long, NRC's security regulations have reflected the threats and technologies of the past rather than the realities of today," Chairman Ho K. Nieh said. "This rule brings our regulations into the modern era by focusing on credible risks, enabling innovation and eliminating unnecessary burden without compromising security."
The proposal marks a significant step toward modernizing NRC's framework for commercial nuclear power reactors, spent fuel storage facilities, and entities that handle classified and safeguards information. It would shift several prescriptive rules to performance based, risk informed, technologyinclusive criteria while maintaining the NRC's unwavering commitment to protecting public health, safety, and national security. Among other changes, the proposal would:
* Transition from prescriptive requirements to performance-based standards that focus on real-world risks and allow licensees to adopt the latest technologies and security strategies.
* Reduce regulatory burden by removing duplicative and outdated requirements, saving time and resources while maintaining NRC oversight and accountability.
* Align NRC requirements with other federal standards and agencies to promote clarity and reduce confusion.
* Provide regulatory options to accommodate new reactor designs and digital systems, ensuring that security and fitness-for-duty requirements are effective and adaptable for advanced reactors and new technologies.
* Allow more flexible drug and alcohol testing methods, reducing unnecessary administrative requirements and aligning with federal best practices.
The proposed rule is expected to be published in the Federal Register in the coming days, opening a 30 day public comment period. The notice will include instructions for submitting comments electronically at www.regulations.gov (Docket ID NRC 2025 1303). The NRC intends to hold a public meeting on the proposed rule soon.
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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/2026/26-068.pdf
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NRC Proposes Major Modernization of Nuclear Security Requirements
ROCKVILLE, Md. -- The Nuclear Regulatory Commission today proposed sweeping updates to its security and fitness-for-duty regulations that would replace decades-old prescriptive requirements with a modern, performance-based framework designed to address credible risks, support advanced reactor technologies, and reduce unnecessary regulatory burden while maintaining strong security protections. The proposal is part ... Show Full Article WASHINGTON, June 24 -- The Nuclear Regulatory Commission issued the following news release on June 23, 2026: * * * NRC Proposes Major Modernization of Nuclear Security Requirements ROCKVILLE, Md. -- The Nuclear Regulatory Commission today proposed sweeping updates to its security and fitness-for-duty regulations that would replace decades-old prescriptive requirements with a modern, performance-based framework designed to address credible risks, support advanced reactor technologies, and reduce unnecessary regulatory burden while maintaining strong security protections. The proposal is partof the NRC's implementation of Executive Order 14300 and represents one of the agency's most significant efforts to modernize nuclear security requirements in recent years.
"For too long, NRC's security regulations have reflected the threats and technologies of the past rather than the realities of today," Chairman Ho K. Nieh said. "This rule brings our regulations into the modern era by focusing on credible risks, enabling innovation and eliminating unnecessary burden without compromising security."
The proposal marks a significant step toward modernizing NRC's framework for commercial nuclear power reactors, spent fuel storage facilities, and entities that handle classified and safeguards information. It would shift several prescriptive rules to performance based, risk informed, technologyinclusive criteria while maintaining the NRC's unwavering commitment to protecting public health, safety, and national security. Among other changes, the proposal would:
* Transition from prescriptive requirements to performance-based standards that focus on real-world risks and allow licensees to adopt the latest technologies and security strategies.
* Reduce regulatory burden by removing duplicative and outdated requirements, saving time and resources while maintaining NRC oversight and accountability.
* Align NRC requirements with other federal standards and agencies to promote clarity and reduce confusion.
* Provide regulatory options to accommodate new reactor designs and digital systems, ensuring that security and fitness-for-duty requirements are effective and adaptable for advanced reactors and new technologies.
* Allow more flexible drug and alcohol testing methods, reducing unnecessary administrative requirements and aligning with federal best practices.
The proposed rule is expected to be published in the Federal Register in the coming days, opening a 30 day public comment period. The notice will include instructions for submitting comments electronically at www.regulations.gov (Docket ID NRC 2025 1303). The NRC intends to hold a public meeting on the proposed rule soon.
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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/2026/26-068.pdf
FCC Wireline Competition Bureau Issues Public Notice: Interconnected VoIP Numbering Authorization Application Filed By Sent
WASHINGTON, June 24 -- The Federal Communications Commission's Wireline Competition Bureau issued the following public notice (WC Docket No. 26-35):
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Sent, Inc., an interconnected Voice over Internet Protocol (VoIP) provider, has filed a Numbering Authorization Application (Application) pursuant to section 51.15(g)(3) of the Federal Communications Commission's rules, seeking authorization to obtain North American Numbering Plan telephone numbers directly from the Numbering Administrator./2 In its Application, Sent, Inc. indicates that it intends to initially request numbers in the States ... Show Full Article WASHINGTON, June 24 -- The Federal Communications Commission's Wireline Competition Bureau issued the following public notice (WC Docket No. 26-35): * * * Sent, Inc., an interconnected Voice over Internet Protocol (VoIP) provider, has filed a Numbering Authorization Application (Application) pursuant to section 51.15(g)(3) of the Federal Communications Commission's rules, seeking authorization to obtain North American Numbering Plan telephone numbers directly from the Numbering Administrator./2 In its Application, Sent, Inc. indicates that it intends to initially request numbers in the Statesof New York, California, Texas, and Illinois./3
In its Application and supplements, Sent, Inc. includes the contact information and acknowledgements required by section 52.15(g)(3)(ii) of the Commission's rules. Sent, Inc. provides evidence that it will be capable of providing service within 60 days of the numbering resources activation date. Sent, Inc. also certifies that it complies with the contribution, regulatory fee, and 911 obligations. In addition, Sent, Inc. certifies that it has the financial, managerial, and technical expertise to provide reliable service. Sent, Inc. further certifies that none of its key management and technical personnel are being or have been investigated by the Commission, or any law enforcement or regulatory agency, for failure to comply with any law, rule, or order.
Sent, Inc. also certifies that it will not use the numbers obtained pursuant to the authorization for illegal robocalling, illegal spoofing, or otherwise fraudulent purposes. Sent, Inc. certifies that it has fully complied with all applicable STIR/SHAKEN caller ID authentication and robocall mitigation program requirements. Sent, Inc. certifies that it complies with the Commission's Access Stimulation rules. Sent, Inc. provides evidence it is compliant with FCC Form 499 and FCC Form 477 filing requirements. Sent, Inc. makes the necessary ownership disclosures and certifications as required under 47 CFR Sec.Sec. 63.18(h) and (i), and reports that it has 10% or greater foreign ownership./4 Finally, Sent, Inc. makes a declaration under penalty of perjury that all statements in the application and any appendices are true and accurate.
The Commission has discretion to refer applications to the relevant Executive Branch agencies for their views on any national security, law enforcement, foreign policy, or trade policy concerns related to the foreign ownership of the Applicants./5 Here we are exercising our discretion and are not referring the Application to the Executive Branch. Although we are not formally referring this Application, we will provide a courtesy copy of this public notice to the Executive Branch agencies./6
GENERAL INFORMATION
The Application identified herein has been found, upon initial review, to be acceptable for filing as a streamlined application. The Commission reserves the right to return any application if, upon further examination, it is determined to be defective and not in conformance with the Commission's rules and policies.
Filing Requirements. Interested parties may file comments on or before the dates indicated on the first page of this document. Comments may be filed using the Commission's Electronic Comment Filing System (ECFS).
* Electronic Filers: Comments may be filed electronically by accessing ECFS at https://www.fcc.gov/ecfs/.
* Paper Filers: Parties who choose to file by paper must file an original and one copy of each filing.
* 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.
* Hand-delivered or messenger-delivered paper filings for the Commission's Secretary are accepted between 8:00 a.m. and 4:00 p.m. by the FCC's mailing contractor at 9050 Junction Drive, Annapolis Junction, MD 20701. All hand deliveries must be held together with rubber bands or fasteners. Any envelopes and boxes must be disposed of before entering the building.
* Commercial courier deliveries (any not sent by the U.S. Postal Service) must be sent to 9050 Junction Drive, Annapolis Junction, MD 20701.
* Filings sent by U.S. Postal Service First-Class Mail, Priority Mail, and Priority Mail Express must be sent 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 email to fcc504@fcc.gov or call the Consumer and Governmental Affairs Bureau at 202-418-0530.
In addition, e-mail one copy of each pleading to each of the following:
1) DAA@fcc.gov;
2) Margoux Newman, Competition Policy Division, Wireline Competition Bureau, Margoux.Newman@fcc.gov;
3) Jordan Marie Reth, Competition Policy Division, Wireline Competition Bureau, Jordan.Reth@fcc.gov.
4) Zach Ross, Competition Policy Division, Wireline Competition Bureau, Zachary.Ross@fcc.gov.
Ex Parte Rules. The proceeding this Notice initiates shall be treated as a "permit-but-disclose" proceeding in accordance with the Commission's ex parte rules./7 Persons making ex parte presentations must file a copy of any written presentation or a memorandum summarizing any oral presentation within two business days after the presentation (unless a different deadline applicable to the Sunshine period applies). Persons making oral ex parte presentations are reminded that memoranda summarizing the presentation must (1) list all persons attending or otherwise participating in the meeting at which the ex parte presentation was made, and (2) summarize all data presented and arguments made during the presentation. If the presentation consisted in whole or in part of the presentation of data or arguments already reflected in the presenter's written comments, memoranda or other filings in the proceeding, the presenter may provide citations to such data or arguments in his or her prior comments, memoranda, or other filings (specifying the relevant page and/or paragraph numbers where such data or arguments can be found) in lieu of summarizing them in the memorandum. Documents shown or given to Commission staff during ex parte meetings are deemed to be written ex parte presentations and must be filed consistent with rule 1.1206(b). In proceedings governed by rule 1.49(f) or for which the Commission has made available a method of electronic filing, written ex parte presentations and memoranda summarizing oral ex parte presentations, and all attachments thereto, must be filed through the electronic comment filing system available for that proceeding, and must be filed in their native format (e.g., .doc, .xml, .ppt, searchable .pdf). Participants in this proceeding should familiarize themselves with the Commission's ex parte rules.
To allow the Commission to consider fully all substantive issues regarding the application in as timely and efficient a manner as possible, petitioners and commenters should raise all issues in their initial filings. New issues may not be raised in responses or replies./8 A party or interested person seeking to raise a new issue after the pleading cycle has closed must show good cause why it was not possible for it to have raised the issue previously. Submissions after the pleading cycle has closed that seek to raise new issues based on new facts or newly discovered facts should be filed within 15 days after such facts are discovered. Absent such a showing of good cause, any issues not timely raised may be disregarded by the Commission.
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Footnotes:
1/ We assign WC Docket No. 26-35 for this Application and all related filings by the applicant and interested parties. See Wireline Competition Bureau Announces Commencement Date and Process for Interconnected VoIP Providers to File Applications for Authorization to Obtain Telephone Numbers, Public Notice, 31 FCC Rcd 949, 950 (WCB 2016); see Numbering Policies for Modern Communications et al., WC Docket No. 13-97 et al., Second Report and Order and Second Further Notice of Proposed Rulemaking, 38 FCC Rcd 8951 (2023) (updating the authorization process).
2/ See Application of Sent, Inc. for Authorization to Obtain Numbering Resources, WC Docket No. 26-35 (filed Feb. 4, 2026), https://www.fcc.gov/ecfs/search/search-filings/filing/10204198444011 (Application); Supplement to the Application of Sent, Inc. for Authorization to Obtain Numbering Resources, WC Docket No. 26-35 (filed Mar. 12, 2026), https://www.fcc.gov/ecfs/search/search-filings/filing/103120760213169 (Supplement 1); Supplement to the Application of Sent, Inc. for Authorization to Obtain Numbering Resources, WC Docket No. 26-35 (filed May 13, 2026), https://www.fcc.gov/ecfs/search/search-filings/filing/105132056115914 (Supplement 2), see also Supplement 2 at 3, Exh. F (outlining 17.82% Kosovar ownership).
3/ Supplement 2 at 2; see also Numbering Policies for Modern Communications et al., Report and Order, 30 FCC Rcd 6839, 6850, para. 24 & n.74 (2015).
4/ See Supplement 2 at 3, Exh. F (outlining 17.82% Kosovar ownership).
5/ 47 CFR Sec. 1.40001; Process Reform for Executive Branch Review of Certain FCC Applications and Petitions Involving Foreign Ownership, IB Docket No. 16-155, Report and Order, 35 FCC Rcd 10927, 10935-38, paras. 2428 (2020) (Executive Branch Review Process Order) (setting out which types of applications will generally be referred to the Executive Branch, but noting the Commission has the discretion to refer additional types of applications if it finds that the specific circumstances of an application require the input of the Executive Branch as part of the Commission's public interest determination). See also Rules and Policies on Foreign Participation in the U.S. Telecommunications Market; Market Entry and Regulation of Foreign- Affiliated Entities, IB Docket Nos. 97142 and 95-22, Report and Order and Order on Reconsideration, 12 FCC Rcd 23891, 23918-19, paras. 61-63 (1997), recon. denied, 15 FCC Rcd 18158 (2000).
6/ See Executive Branch Review Process Order at 10941, para. 36, n. 99; see also id. at 10939, para 30, n. 81.
7/ 47 C.F.R. Sec.Sec. 1.1200 et seq.
8/ See 47 CFR Sec. 1.45(c) (providing, inter alia, that a party filing a pleading "may reply to oppositions within 5 days after the time for filing oppositions has expired").
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Original text here: https://docs.fcc.gov/public/attachments/DA-26-618A1.pdf
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Sent, Inc., an interconnected Voice over Internet Protocol (VoIP) provider, has filed a Numbering Authorization Application (Application) pursuant to section 51.15(g)(3) of the Federal Communications Commission's rules, seeking authorization to obtain North American Numbering Plan telephone numbers directly from the Numbering Administrator./2 In its Application, Sent, Inc. indicates that it intends to initially request numbers in the States ... Show Full Article WASHINGTON, June 24 -- The Federal Communications Commission's Wireline Competition Bureau issued the following public notice (WC Docket No. 26-35): * * * Sent, Inc., an interconnected Voice over Internet Protocol (VoIP) provider, has filed a Numbering Authorization Application (Application) pursuant to section 51.15(g)(3) of the Federal Communications Commission's rules, seeking authorization to obtain North American Numbering Plan telephone numbers directly from the Numbering Administrator./2 In its Application, Sent, Inc. indicates that it intends to initially request numbers in the Statesof New York, California, Texas, and Illinois./3
In its Application and supplements, Sent, Inc. includes the contact information and acknowledgements required by section 52.15(g)(3)(ii) of the Commission's rules. Sent, Inc. provides evidence that it will be capable of providing service within 60 days of the numbering resources activation date. Sent, Inc. also certifies that it complies with the contribution, regulatory fee, and 911 obligations. In addition, Sent, Inc. certifies that it has the financial, managerial, and technical expertise to provide reliable service. Sent, Inc. further certifies that none of its key management and technical personnel are being or have been investigated by the Commission, or any law enforcement or regulatory agency, for failure to comply with any law, rule, or order.
Sent, Inc. also certifies that it will not use the numbers obtained pursuant to the authorization for illegal robocalling, illegal spoofing, or otherwise fraudulent purposes. Sent, Inc. certifies that it has fully complied with all applicable STIR/SHAKEN caller ID authentication and robocall mitigation program requirements. Sent, Inc. certifies that it complies with the Commission's Access Stimulation rules. Sent, Inc. provides evidence it is compliant with FCC Form 499 and FCC Form 477 filing requirements. Sent, Inc. makes the necessary ownership disclosures and certifications as required under 47 CFR Sec.Sec. 63.18(h) and (i), and reports that it has 10% or greater foreign ownership./4 Finally, Sent, Inc. makes a declaration under penalty of perjury that all statements in the application and any appendices are true and accurate.
The Commission has discretion to refer applications to the relevant Executive Branch agencies for their views on any national security, law enforcement, foreign policy, or trade policy concerns related to the foreign ownership of the Applicants./5 Here we are exercising our discretion and are not referring the Application to the Executive Branch. Although we are not formally referring this Application, we will provide a courtesy copy of this public notice to the Executive Branch agencies./6
GENERAL INFORMATION
The Application identified herein has been found, upon initial review, to be acceptable for filing as a streamlined application. The Commission reserves the right to return any application if, upon further examination, it is determined to be defective and not in conformance with the Commission's rules and policies.
Filing Requirements. Interested parties may file comments on or before the dates indicated on the first page of this document. Comments may be filed using the Commission's Electronic Comment Filing System (ECFS).
* Electronic Filers: Comments may be filed electronically by accessing ECFS at https://www.fcc.gov/ecfs/.
* Paper Filers: Parties who choose to file by paper must file an original and one copy of each filing.
* 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.
* Hand-delivered or messenger-delivered paper filings for the Commission's Secretary are accepted between 8:00 a.m. and 4:00 p.m. by the FCC's mailing contractor at 9050 Junction Drive, Annapolis Junction, MD 20701. All hand deliveries must be held together with rubber bands or fasteners. Any envelopes and boxes must be disposed of before entering the building.
* Commercial courier deliveries (any not sent by the U.S. Postal Service) must be sent to 9050 Junction Drive, Annapolis Junction, MD 20701.
* Filings sent by U.S. Postal Service First-Class Mail, Priority Mail, and Priority Mail Express must be sent 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 email to fcc504@fcc.gov or call the Consumer and Governmental Affairs Bureau at 202-418-0530.
In addition, e-mail one copy of each pleading to each of the following:
1) DAA@fcc.gov;
2) Margoux Newman, Competition Policy Division, Wireline Competition Bureau, Margoux.Newman@fcc.gov;
3) Jordan Marie Reth, Competition Policy Division, Wireline Competition Bureau, Jordan.Reth@fcc.gov.
4) Zach Ross, Competition Policy Division, Wireline Competition Bureau, Zachary.Ross@fcc.gov.
Ex Parte Rules. The proceeding this Notice initiates shall be treated as a "permit-but-disclose" proceeding in accordance with the Commission's ex parte rules./7 Persons making ex parte presentations must file a copy of any written presentation or a memorandum summarizing any oral presentation within two business days after the presentation (unless a different deadline applicable to the Sunshine period applies). Persons making oral ex parte presentations are reminded that memoranda summarizing the presentation must (1) list all persons attending or otherwise participating in the meeting at which the ex parte presentation was made, and (2) summarize all data presented and arguments made during the presentation. If the presentation consisted in whole or in part of the presentation of data or arguments already reflected in the presenter's written comments, memoranda or other filings in the proceeding, the presenter may provide citations to such data or arguments in his or her prior comments, memoranda, or other filings (specifying the relevant page and/or paragraph numbers where such data or arguments can be found) in lieu of summarizing them in the memorandum. Documents shown or given to Commission staff during ex parte meetings are deemed to be written ex parte presentations and must be filed consistent with rule 1.1206(b). In proceedings governed by rule 1.49(f) or for which the Commission has made available a method of electronic filing, written ex parte presentations and memoranda summarizing oral ex parte presentations, and all attachments thereto, must be filed through the electronic comment filing system available for that proceeding, and must be filed in their native format (e.g., .doc, .xml, .ppt, searchable .pdf). Participants in this proceeding should familiarize themselves with the Commission's ex parte rules.
To allow the Commission to consider fully all substantive issues regarding the application in as timely and efficient a manner as possible, petitioners and commenters should raise all issues in their initial filings. New issues may not be raised in responses or replies./8 A party or interested person seeking to raise a new issue after the pleading cycle has closed must show good cause why it was not possible for it to have raised the issue previously. Submissions after the pleading cycle has closed that seek to raise new issues based on new facts or newly discovered facts should be filed within 15 days after such facts are discovered. Absent such a showing of good cause, any issues not timely raised may be disregarded by the Commission.
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Footnotes:
1/ We assign WC Docket No. 26-35 for this Application and all related filings by the applicant and interested parties. See Wireline Competition Bureau Announces Commencement Date and Process for Interconnected VoIP Providers to File Applications for Authorization to Obtain Telephone Numbers, Public Notice, 31 FCC Rcd 949, 950 (WCB 2016); see Numbering Policies for Modern Communications et al., WC Docket No. 13-97 et al., Second Report and Order and Second Further Notice of Proposed Rulemaking, 38 FCC Rcd 8951 (2023) (updating the authorization process).
2/ See Application of Sent, Inc. for Authorization to Obtain Numbering Resources, WC Docket No. 26-35 (filed Feb. 4, 2026), https://www.fcc.gov/ecfs/search/search-filings/filing/10204198444011 (Application); Supplement to the Application of Sent, Inc. for Authorization to Obtain Numbering Resources, WC Docket No. 26-35 (filed Mar. 12, 2026), https://www.fcc.gov/ecfs/search/search-filings/filing/103120760213169 (Supplement 1); Supplement to the Application of Sent, Inc. for Authorization to Obtain Numbering Resources, WC Docket No. 26-35 (filed May 13, 2026), https://www.fcc.gov/ecfs/search/search-filings/filing/105132056115914 (Supplement 2), see also Supplement 2 at 3, Exh. F (outlining 17.82% Kosovar ownership).
3/ Supplement 2 at 2; see also Numbering Policies for Modern Communications et al., Report and Order, 30 FCC Rcd 6839, 6850, para. 24 & n.74 (2015).
4/ See Supplement 2 at 3, Exh. F (outlining 17.82% Kosovar ownership).
5/ 47 CFR Sec. 1.40001; Process Reform for Executive Branch Review of Certain FCC Applications and Petitions Involving Foreign Ownership, IB Docket No. 16-155, Report and Order, 35 FCC Rcd 10927, 10935-38, paras. 2428 (2020) (Executive Branch Review Process Order) (setting out which types of applications will generally be referred to the Executive Branch, but noting the Commission has the discretion to refer additional types of applications if it finds that the specific circumstances of an application require the input of the Executive Branch as part of the Commission's public interest determination). See also Rules and Policies on Foreign Participation in the U.S. Telecommunications Market; Market Entry and Regulation of Foreign- Affiliated Entities, IB Docket Nos. 97142 and 95-22, Report and Order and Order on Reconsideration, 12 FCC Rcd 23891, 23918-19, paras. 61-63 (1997), recon. denied, 15 FCC Rcd 18158 (2000).
6/ See Executive Branch Review Process Order at 10941, para. 36, n. 99; see also id. at 10939, para 30, n. 81.
7/ 47 C.F.R. Sec.Sec. 1.1200 et seq.
8/ See 47 CFR Sec. 1.45(c) (providing, inter alia, that a party filing a pleading "may reply to oppositions within 5 days after the time for filing oppositions has expired").
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Original text here: https://docs.fcc.gov/public/attachments/DA-26-618A1.pdf
FCC Announces Close of Successful Wireless Auction: Spectrum Demand Is Strong as Proceeds Exceed Expectations
WASHINGTON, June 24 -- The Federal Communications Commission issued the following news release on June 23, 2026:
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FCC Announces Close of Successful Wireless Auction: Spectrum Demand Is Strong as Proceeds Exceed Expectations
More Than $3.5 Billion in Proceeds While Moving 200 Licenses into Commercial Use
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Today, the Federal Communications Commission announced the conclusion of its highly successful AWS-3 auction, which showed that the demand for spectrum is high, and America is again leading the world. Auction bidding beat expectations with significant per-unit prices and gross winning ... Show Full Article WASHINGTON, June 24 -- The Federal Communications Commission issued the following news release on June 23, 2026: * * * FCC Announces Close of Successful Wireless Auction: Spectrum Demand Is Strong as Proceeds Exceed Expectations More Than $3.5 Billion in Proceeds While Moving 200 Licenses into Commercial Use - Today, the Federal Communications Commission announced the conclusion of its highly successful AWS-3 auction, which showed that the demand for spectrum is high, and America is again leading the world. Auction bidding beat expectations with significant per-unit prices and gross winningbids exceeding $3.5 billion. Through the auction, valuable mid-band spectrum that was previously idle has been allocated for productive use.
The auction also shows that the FCC's Auctions program is running strong, despite the previous lapse in authority and a four-year gap in conducting an auction. The FCC is well prepared for its forthcoming Upper C-Band auction. The FCC is on schedule to meet Congress's deadline to complete a system of competitive bidding for at least 100 megahertz in the Upper C-band no later than July 2027.
Chairman Brendan Carr issued the following statement:
"After years on the sidelines, FCC auctions are finally back. Today's successful auction generated billions of dollars in competitive bids to put spectrum to effective commercial use, and it bolsters competition in the wireless marketplace. We will carry this momentum forward as we prepare for the Upper C-Band auction in the year ahead."
"Spectrum auctions are the lifeblood of licensed wireless service. More spectrum means lower prices and stronger competition. I thank the many FCC team members who made the success of this auction possible through their hard work and expertise."
Additional Background Information:
Bidding in the AWS-3 auction, formally designated as Auction 113, began on June 2, 2026. Seventeen qualified bidders participated in the auction, which ran for 72 rounds.
Up to $3.3B of the auction's proceeds will be used to cover amounts borrowed to support the FCC's "rip and replace" program and other Commerce Department programs. The auction made available 200 spectrum licenses in the 1695-1710 MHz, 1755-1780 MHz, and 2155-2180 MHz bands which were subject to bid defaults or bid withdrawals in the 2014 auction and thus have remained unused in the FCC's inventory since then.
The auction that concluded today was important, even with its smaller inventory of 200 licenses of various sizes and diverse geographic areas. Auction 113 also featured the debut of the FCC's brand new, state-of-the-art application system, which represents a step towards the FCC's goals of increasing efficiency in agency operations.
The FCC's Build America Agenda is putting in the work to free up airwaves and restore the country's leadership in wireless. The Commission is advancing 5G and 6G leadership by executing on a massive spectrum pipeline to deliver 800 megahertz of spectrum by 2034 set out in President Trump's Working Families Tax Cut Act, which also restored the FCC's auction authority. In the secondary markets, we are seeing large swaths of spectrum moving into the hands of competitors that can put it to productive use quickly. For more on the wireless leadership efforts in the Build America Agenda, visit: https://www.fcc.gov/restoring-americas-leadership-wireless.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-422512A1.pdf
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FCC Announces Close of Successful Wireless Auction: Spectrum Demand Is Strong as Proceeds Exceed Expectations
More Than $3.5 Billion in Proceeds While Moving 200 Licenses into Commercial Use
-
Today, the Federal Communications Commission announced the conclusion of its highly successful AWS-3 auction, which showed that the demand for spectrum is high, and America is again leading the world. Auction bidding beat expectations with significant per-unit prices and gross winning ... Show Full Article WASHINGTON, June 24 -- The Federal Communications Commission issued the following news release on June 23, 2026: * * * FCC Announces Close of Successful Wireless Auction: Spectrum Demand Is Strong as Proceeds Exceed Expectations More Than $3.5 Billion in Proceeds While Moving 200 Licenses into Commercial Use - Today, the Federal Communications Commission announced the conclusion of its highly successful AWS-3 auction, which showed that the demand for spectrum is high, and America is again leading the world. Auction bidding beat expectations with significant per-unit prices and gross winningbids exceeding $3.5 billion. Through the auction, valuable mid-band spectrum that was previously idle has been allocated for productive use.
The auction also shows that the FCC's Auctions program is running strong, despite the previous lapse in authority and a four-year gap in conducting an auction. The FCC is well prepared for its forthcoming Upper C-Band auction. The FCC is on schedule to meet Congress's deadline to complete a system of competitive bidding for at least 100 megahertz in the Upper C-band no later than July 2027.
Chairman Brendan Carr issued the following statement:
"After years on the sidelines, FCC auctions are finally back. Today's successful auction generated billions of dollars in competitive bids to put spectrum to effective commercial use, and it bolsters competition in the wireless marketplace. We will carry this momentum forward as we prepare for the Upper C-Band auction in the year ahead."
"Spectrum auctions are the lifeblood of licensed wireless service. More spectrum means lower prices and stronger competition. I thank the many FCC team members who made the success of this auction possible through their hard work and expertise."
Additional Background Information:
Bidding in the AWS-3 auction, formally designated as Auction 113, began on June 2, 2026. Seventeen qualified bidders participated in the auction, which ran for 72 rounds.
Up to $3.3B of the auction's proceeds will be used to cover amounts borrowed to support the FCC's "rip and replace" program and other Commerce Department programs. The auction made available 200 spectrum licenses in the 1695-1710 MHz, 1755-1780 MHz, and 2155-2180 MHz bands which were subject to bid defaults or bid withdrawals in the 2014 auction and thus have remained unused in the FCC's inventory since then.
The auction that concluded today was important, even with its smaller inventory of 200 licenses of various sizes and diverse geographic areas. Auction 113 also featured the debut of the FCC's brand new, state-of-the-art application system, which represents a step towards the FCC's goals of increasing efficiency in agency operations.
The FCC's Build America Agenda is putting in the work to free up airwaves and restore the country's leadership in wireless. The Commission is advancing 5G and 6G leadership by executing on a massive spectrum pipeline to deliver 800 megahertz of spectrum by 2034 set out in President Trump's Working Families Tax Cut Act, which also restored the FCC's auction authority. In the secondary markets, we are seeing large swaths of spectrum moving into the hands of competitors that can put it to productive use quickly. For more on the wireless leadership efforts in the Build America Agenda, visit: https://www.fcc.gov/restoring-americas-leadership-wireless.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-422512A1.pdf
CFTC Chairman Selig Issues Remarks at American Cotton Shippers Association Annual Convention
WASHINGTON, June 24 -- The Commodity Futures Trading Commission issued the following remarks on June 23, 2026, by Chairman Michael S. Selig at the American Cotton Shippers Association Annual Convention:
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Good morning and thank you for that kind introduction. It is an honor to be with the men and women who provide our country and the world with clothes, textiles, and medical supplies from American grown cotton.
As is customary, I must note that the views I share today are my own as Chairman and don't necessarily reflect those of the Commission.
As we prepare to celebrate America's 250th ... Show Full Article WASHINGTON, June 24 -- The Commodity Futures Trading Commission issued the following remarks on June 23, 2026, by Chairman Michael S. Selig at the American Cotton Shippers Association Annual Convention: * * * Good morning and thank you for that kind introduction. It is an honor to be with the men and women who provide our country and the world with clothes, textiles, and medical supplies from American grown cotton. As is customary, I must note that the views I share today are my own as Chairman and don't necessarily reflect those of the Commission. As we prepare to celebrate America's 250thanniversary, we have a unique opportunity to reflect on what has made this country exceptional for nearly two and a half centuries. We often think about the founders who signed the Declaration of Independence or the soldiers who fought for our freedom, but we should also remember the farmers, ranchers, producers, and agricultural businesses that have sustained this nation every step of the way.
Long before there was Wall Street, there was Main Street. Long before financial markets became digital, there were producers taking risks with the weather, crops, prices, and their livelihoods every season.
For 250 years, businesses like yours have proven that domestic cotton production is critical to our national security and our family farms and ranches are the backbone of this great nation. Whether it is cotton producers across the south or merchants seeking to buy and move product using our markets, the work you do for the United States and the world is crucial to our survival.
I was reminded of that recently during a farm tour through my home state of Florida. I spent time with cattlemen, specialty crop farmers, and sugar producers who welcomed us onto their land, showed us what modern agriculture production looks like, and explained the challenges they face on a daily basis. What struck me was how producers and agricultural businesses embrace innovation to enhance their yields, protect the environment, and improve the efficiency of their operations.
During my agriculture visits in Florida last month, I had the opportunity to experience sugarcane harvest and processing for the first time. For sugar production, the farmers explained the need for precision agriculture, regenerative soil practices, proper pest and disease control, and suitable weather conditions. They need daily burn permits from the government to burn the cane, preparing it for harvest. Sugarcane production is not an easy feat by any means, and a lot of the ideal planting and harvesting conditions are out of their control. Then there's considerations for refining, storage, and transportation of the final product.
Technology is everywhere. Farmers are incorporating precision agriculture technologies to improve crop production and yields through data analysis, specific fertilizer, nutrient, and pesticide applications, as well as to monitor the weather and control irrigation. Broadband technology enhances equipment productivity, incorporating GPS systems into combines and harvesters, which allow producers to be as efficient as possible.
As technology and data advances, our farmers have better control over their inputs - using just the prescribed amount of feed, fuel, or fertilizer - to then maximize their bottom line.
But technology cannot, and will not, replace everything. Agriculture production still requires long hours working in the heat of the summer and the chill of winter and on weekends and holidays, waking before the sun rises and often working through the dead of night. Farmers are still operating equipment to plant and harvest crops, and making decisions not based on technology - but on generations of knowledge and experience.
I saw firsthand the uphill battle they face on a daily basis. Their struggles with various input costs and weather dependent yields, emphasize the need for strong and effective risk management tools, like the futures and options we regulate at the CFTC, and advanced technology to analyze peak conditions and operate their equipment in the most efficient manner.
During my trip, we also went to a family-owned cow-calf operation, where I learned more about the cyclical nature of cattle production and how the market naturally contracts and expands over roughly a ten-year period based on the size of the herd. This process directly ties into the live and feeder cattle contracts on the exchanges and impacts prices for both the producer and consumer.
The time and planning required to have a successful herd or high yielding crop never ceases to amaze me. Seeing production agriculture firsthand from those who run these operations demonstrated the important role that innovative technology plays in keeping your farms, gins, and businesses running.
Innovation is not coming to agriculture soon. It's already here. But even with all that technology, at the center of every operation what we saw was still a family business and producers working to feed our great nation.
Technology may change the tools you all use, but it does not replace the people. At the CFTC, that matters.
Our job is not to force change for the sake of change. Our job is to make sure innovation works for the people who use these markets every day.
We can utilize the best of both worlds. We want innovation, better tools, stronger markets, and broader access. But we are not going to turn everything over to robots and blockchain systems without considering the real-world impact on farmers and producers.
Markets work best when they serve people, not the other way around. That's why at the CFTC, we're focused on balancing innovation with the day-to-day realities of American agriculture.
Many of you have probably heard me say before that the CFTC will not take a "one-size-fits-all" approach to innovation in our markets. And I will continue to stand by this.
What works for newer, innovative markets, like crypto assets and prediction markets, may not be suitable for traditional asset classes, like agriculture.
As you may know, last month, the Commission took steps to approve narrowly curated perpetual contracts on bitcoin, and similar crypto assets, so that they can be listed on a CFTC-registered exchange as a futures contract.
Perpetual contracts are a type of derivative contract that does not have an expiration date, trades continuously on a 24-7 basis, and is intended to achieve price parity through a pricing mechanism, called a funding rate.
The Commission's recent action on perpetuals is limited to crypto perpetual contracts with deep, active, and continuous spot market trading. As I hope the many forms of actions made clear, I do not believe that the perpetual instrument is suitable for all asset classes, especially in products like agriculture.
To further express this sentiment, the Commission released several additional documents in tandem with the bitcoin perpetual contract order, to make it crystal clear that if registrants want to make any moves concerning perpetual futures outside of the crypto context, they will need to speak to the Commission first.
We fully recognize and understand that 24-7 trading and the perpetual model is not a natural fit for traditional commodity markets, like agriculture, that observe limited trading hours and rely on physical delivery.
I hope this provides everyone in the agriculture community reassurance that your feedback matters to us; and that we are listening. The Commission takes the concerns of traditional market participants on perpetuals very seriously.
Another area we have taken action in is prediction markets. The products traded on these markets are frequently referred to as event contracts, and they've existed in CFTC-regulated markets for decades. Event contracts are typically structured as swaps, putting them comfortably within the CFTC's regulatory authority.
These contracts are often based on yes or no scenarios. The most widely utilized contracts are for sports, elections, and political events. But as you all probably know, there are now event contracts on traditional commodities, like agriculture, energy, and metals.
Prediction markets can serve as a critical risk management tool, mitigating risk, and providing competition in the marketplace, which can drive down costs for consumers.
However, as I stated before, it is not a "one-size-fits-all" proposition.
This is why I have strongly advocated for exchanges to limit trading hours for agricultural commodity contracts to match traditional trading hours.
I also continue to emphasize the importance of working with agriculture stakeholders and industry to provide the best product for all users that does not negatively impact the agricultural community. Your concerns are being heard.
When the contracts are drafted and executed with limited trading hours, producers have an additional tool in the toolbox to hedge their risks.
These markets affect family businesses, crop plans, and entire rural communities, and they are crucial to the survival of America's farmers. All of you in this room deserve a regulator who understands that.
At the same time, we cannot ignore the fact that the broader financial system is evolving rapidly. We saw this with blockchain technology. We saw it with crypto assets. We see it now with discussions around 24-7 trading.
The answer is not to reject innovation outright like we have seen from previous administrations. The answer is to ensure innovation remains a part of traditional finance in a way that strengthens our markets. America has the best commodity derivatives markets in the world. They are liquid, transparent, resilient, and importantly, they were built around the needs of those who use them the most.
Rest assured: although the Commission has taken recent actions in the crypto assets space, our roots are in regulating agricultural markets, and we are just as focused on ensuring that regulation works for our traditional markets as on modernizing our rules for markets on the new frontier.
Under my leadership, the CFTC will preserve those strengths while modernizing responsibly. To do so, we will make sure farmers continue to have a seat at the table. Our doors are open. If there are issues affecting your business, we want to hear about them. If clearing costs are too burdensome, let us know.
If regulations are limiting access to our markets or reducing competition, we want to better understand those impacts.
That is why I have worked to revive the CFTC's Agricultural Advisory Committee to ensure traditional market participants have input and feedback on the regulatory issues and policies affecting them everyday. Our first meeting is next month, and we are excited to sit down in a roundtable format and hear from our members, several of which are with us here today. The Ag Advisory Committee will generate a report of findings for the Commission to consider regarding topics we discuss - such as opportunities to enhance risk management tools, capital requirements such as the Basel III endgame proposal, the Commitments of Traders report, 24-7 trading, and much more.
The Ag Advisory Committee's work will be influential in guiding future decision-making at the CFTC. The people using these markets every day should help shape the future of these markets.
That brings me to another opportunity for engagement with the agricultural community. Under my leadership, we are bringing back AgCon, the Agricultural Commodity Futures Conference hosted by the CFTC and Kansas State University, which will be in Kansas City this October. AgCon is a great event for the agency to hear directly from agricultural leaders across the country on how we can best serve the agricultural industry. Mark your calendars and we hope you will join us in October.
To ensure we are prioritizing and hearing from the agricultural community, I have hired the first ever Senior Agricultural Advisor to the Chairman, and she keeps me updated on your needs and those of the agriculture industry as a whole.
From a policy making standpoint, we have been busy at the CFTC evaluating the results of the Request for Comment on the Commitments of Traders, or COT, report.
ACSA has played a key role in providing strong feedback and recommendations for improvement of the report, including publishing it twice a week. We are evaluating our internal processes and data to provide a pathway forward to enhance the report for all market participants. Thank you all for your engagement on COT.
One of my main goals here at the CFTC is to avoid the implementation of unnecessary and ineffective regulatory burdens, like those put on futures commission merchants (FCMs) and swap dealers after Dodd-Frank. We've seen the number of FCMs significantly decline, particularly those that serve agricultural producers. Farmers should not have to pay larger fees to hedge their risks just to comply with government regulations.
A great example of this is the Basel III proposal from the Biden administration. Capital rules should not unintentionally reduce liquidity, push producers and hedgers out of the marketplace, or increase the cost of clearing.
That is why I have worked together with the prudential regulators to develop a new, less burdensome Basel III proposal that aims to streamline regulations and reduce capital requirements. We are focused on ensuring continued access to American derivatives markets, because efficient access to risk management tools is critical for everyone in the room and the agricultural economy as whole. Farmers should be able to hedge risk without excessive or unnecessary expenses - that is common sense.
As we seek opportunities to enhance risk management tools for row croppers, livestock producers, and agribusinesses, we are strengthening our roots by ensuring the CFTC's relationship with the U.S. Department of Agriculture (USDA) remains strong.
Before the CFTC was formed in 1974, its functions were housed in the USDA as the Grain Futures Administration, and then the Commodity Exchange Administration, dating back to the early 1920s and 1930s. This is the time when clearing members began to report their large trades and open market positions. And the Administration began to publish annual reports of data, similar to the CFTC's current Commitments of Traders reports.
Building upon our roots, the CFTC is currently working on a draft memorandum of understanding (MOU) with the USDA. The purpose is to strengthen collaboration efforts and information sharing between the two agencies to better serve all of our constituents, which are America's farmers, ranchers, and agribusinesses.
We are also continuing to focus on ensuring there are markets available for a wide range of crops and products that producers need. Agriculture in America is diverse. The needs of cotton producers are different from livestock producers. A one-size-fits-all policymaking approach does not work, and my staff and I understand that.
That's why engagement with the industry matters, and that's why visits like the one we recently had in Florida are vital. I look forward to hopefully joining some of you on your farms, at your cotton gins, and at your businesses soon as well.
Between ongoing droughts, Brazil dumping products into our markets, cheap imports of synthetic fibers from Asia, and high input costs, I know it has been a tough year for many of you. Rest assured, the Trump administration and the CFTC realize the situation. If there are ways we can make your lives easier while still preserving market integrity and protecting participants, we will seriously consider them.
As I prepare to close, I want to reflect again on something I saw repeatedly during my recent farm tour. The balance between innovation and tradition is exactly what America, and farmers, do best. We do not move backward, but we also do not abandon the foundations that make us strong.
On the eve of our nation's 250th birthday, we're reminded that the future of agriculture will include technology, data analytics, modernized markets, and much more. But it will also continue to rely on hardworking Americans willing to wake up early, work the land, take risks, merchandise, and ship crops for not only our country, but the world.
I'm proud the CFTC will continue working to ensure our markets support both innovation and the people at the heart of American agriculture.
Thank you.
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Original text here: https://www.cftc.gov/PressRoom/SpeechesTestimony/opaselig7
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Good morning and thank you for that kind introduction. It is an honor to be with the men and women who provide our country and the world with clothes, textiles, and medical supplies from American grown cotton.
As is customary, I must note that the views I share today are my own as Chairman and don't necessarily reflect those of the Commission.
As we prepare to celebrate America's 250th ... Show Full Article WASHINGTON, June 24 -- The Commodity Futures Trading Commission issued the following remarks on June 23, 2026, by Chairman Michael S. Selig at the American Cotton Shippers Association Annual Convention: * * * Good morning and thank you for that kind introduction. It is an honor to be with the men and women who provide our country and the world with clothes, textiles, and medical supplies from American grown cotton. As is customary, I must note that the views I share today are my own as Chairman and don't necessarily reflect those of the Commission. As we prepare to celebrate America's 250thanniversary, we have a unique opportunity to reflect on what has made this country exceptional for nearly two and a half centuries. We often think about the founders who signed the Declaration of Independence or the soldiers who fought for our freedom, but we should also remember the farmers, ranchers, producers, and agricultural businesses that have sustained this nation every step of the way.
Long before there was Wall Street, there was Main Street. Long before financial markets became digital, there were producers taking risks with the weather, crops, prices, and their livelihoods every season.
For 250 years, businesses like yours have proven that domestic cotton production is critical to our national security and our family farms and ranches are the backbone of this great nation. Whether it is cotton producers across the south or merchants seeking to buy and move product using our markets, the work you do for the United States and the world is crucial to our survival.
I was reminded of that recently during a farm tour through my home state of Florida. I spent time with cattlemen, specialty crop farmers, and sugar producers who welcomed us onto their land, showed us what modern agriculture production looks like, and explained the challenges they face on a daily basis. What struck me was how producers and agricultural businesses embrace innovation to enhance their yields, protect the environment, and improve the efficiency of their operations.
During my agriculture visits in Florida last month, I had the opportunity to experience sugarcane harvest and processing for the first time. For sugar production, the farmers explained the need for precision agriculture, regenerative soil practices, proper pest and disease control, and suitable weather conditions. They need daily burn permits from the government to burn the cane, preparing it for harvest. Sugarcane production is not an easy feat by any means, and a lot of the ideal planting and harvesting conditions are out of their control. Then there's considerations for refining, storage, and transportation of the final product.
Technology is everywhere. Farmers are incorporating precision agriculture technologies to improve crop production and yields through data analysis, specific fertilizer, nutrient, and pesticide applications, as well as to monitor the weather and control irrigation. Broadband technology enhances equipment productivity, incorporating GPS systems into combines and harvesters, which allow producers to be as efficient as possible.
As technology and data advances, our farmers have better control over their inputs - using just the prescribed amount of feed, fuel, or fertilizer - to then maximize their bottom line.
But technology cannot, and will not, replace everything. Agriculture production still requires long hours working in the heat of the summer and the chill of winter and on weekends and holidays, waking before the sun rises and often working through the dead of night. Farmers are still operating equipment to plant and harvest crops, and making decisions not based on technology - but on generations of knowledge and experience.
I saw firsthand the uphill battle they face on a daily basis. Their struggles with various input costs and weather dependent yields, emphasize the need for strong and effective risk management tools, like the futures and options we regulate at the CFTC, and advanced technology to analyze peak conditions and operate their equipment in the most efficient manner.
During my trip, we also went to a family-owned cow-calf operation, where I learned more about the cyclical nature of cattle production and how the market naturally contracts and expands over roughly a ten-year period based on the size of the herd. This process directly ties into the live and feeder cattle contracts on the exchanges and impacts prices for both the producer and consumer.
The time and planning required to have a successful herd or high yielding crop never ceases to amaze me. Seeing production agriculture firsthand from those who run these operations demonstrated the important role that innovative technology plays in keeping your farms, gins, and businesses running.
Innovation is not coming to agriculture soon. It's already here. But even with all that technology, at the center of every operation what we saw was still a family business and producers working to feed our great nation.
Technology may change the tools you all use, but it does not replace the people. At the CFTC, that matters.
Our job is not to force change for the sake of change. Our job is to make sure innovation works for the people who use these markets every day.
We can utilize the best of both worlds. We want innovation, better tools, stronger markets, and broader access. But we are not going to turn everything over to robots and blockchain systems without considering the real-world impact on farmers and producers.
Markets work best when they serve people, not the other way around. That's why at the CFTC, we're focused on balancing innovation with the day-to-day realities of American agriculture.
Many of you have probably heard me say before that the CFTC will not take a "one-size-fits-all" approach to innovation in our markets. And I will continue to stand by this.
What works for newer, innovative markets, like crypto assets and prediction markets, may not be suitable for traditional asset classes, like agriculture.
As you may know, last month, the Commission took steps to approve narrowly curated perpetual contracts on bitcoin, and similar crypto assets, so that they can be listed on a CFTC-registered exchange as a futures contract.
Perpetual contracts are a type of derivative contract that does not have an expiration date, trades continuously on a 24-7 basis, and is intended to achieve price parity through a pricing mechanism, called a funding rate.
The Commission's recent action on perpetuals is limited to crypto perpetual contracts with deep, active, and continuous spot market trading. As I hope the many forms of actions made clear, I do not believe that the perpetual instrument is suitable for all asset classes, especially in products like agriculture.
To further express this sentiment, the Commission released several additional documents in tandem with the bitcoin perpetual contract order, to make it crystal clear that if registrants want to make any moves concerning perpetual futures outside of the crypto context, they will need to speak to the Commission first.
We fully recognize and understand that 24-7 trading and the perpetual model is not a natural fit for traditional commodity markets, like agriculture, that observe limited trading hours and rely on physical delivery.
I hope this provides everyone in the agriculture community reassurance that your feedback matters to us; and that we are listening. The Commission takes the concerns of traditional market participants on perpetuals very seriously.
Another area we have taken action in is prediction markets. The products traded on these markets are frequently referred to as event contracts, and they've existed in CFTC-regulated markets for decades. Event contracts are typically structured as swaps, putting them comfortably within the CFTC's regulatory authority.
These contracts are often based on yes or no scenarios. The most widely utilized contracts are for sports, elections, and political events. But as you all probably know, there are now event contracts on traditional commodities, like agriculture, energy, and metals.
Prediction markets can serve as a critical risk management tool, mitigating risk, and providing competition in the marketplace, which can drive down costs for consumers.
However, as I stated before, it is not a "one-size-fits-all" proposition.
This is why I have strongly advocated for exchanges to limit trading hours for agricultural commodity contracts to match traditional trading hours.
I also continue to emphasize the importance of working with agriculture stakeholders and industry to provide the best product for all users that does not negatively impact the agricultural community. Your concerns are being heard.
When the contracts are drafted and executed with limited trading hours, producers have an additional tool in the toolbox to hedge their risks.
These markets affect family businesses, crop plans, and entire rural communities, and they are crucial to the survival of America's farmers. All of you in this room deserve a regulator who understands that.
At the same time, we cannot ignore the fact that the broader financial system is evolving rapidly. We saw this with blockchain technology. We saw it with crypto assets. We see it now with discussions around 24-7 trading.
The answer is not to reject innovation outright like we have seen from previous administrations. The answer is to ensure innovation remains a part of traditional finance in a way that strengthens our markets. America has the best commodity derivatives markets in the world. They are liquid, transparent, resilient, and importantly, they were built around the needs of those who use them the most.
Rest assured: although the Commission has taken recent actions in the crypto assets space, our roots are in regulating agricultural markets, and we are just as focused on ensuring that regulation works for our traditional markets as on modernizing our rules for markets on the new frontier.
Under my leadership, the CFTC will preserve those strengths while modernizing responsibly. To do so, we will make sure farmers continue to have a seat at the table. Our doors are open. If there are issues affecting your business, we want to hear about them. If clearing costs are too burdensome, let us know.
If regulations are limiting access to our markets or reducing competition, we want to better understand those impacts.
That is why I have worked to revive the CFTC's Agricultural Advisory Committee to ensure traditional market participants have input and feedback on the regulatory issues and policies affecting them everyday. Our first meeting is next month, and we are excited to sit down in a roundtable format and hear from our members, several of which are with us here today. The Ag Advisory Committee will generate a report of findings for the Commission to consider regarding topics we discuss - such as opportunities to enhance risk management tools, capital requirements such as the Basel III endgame proposal, the Commitments of Traders report, 24-7 trading, and much more.
The Ag Advisory Committee's work will be influential in guiding future decision-making at the CFTC. The people using these markets every day should help shape the future of these markets.
That brings me to another opportunity for engagement with the agricultural community. Under my leadership, we are bringing back AgCon, the Agricultural Commodity Futures Conference hosted by the CFTC and Kansas State University, which will be in Kansas City this October. AgCon is a great event for the agency to hear directly from agricultural leaders across the country on how we can best serve the agricultural industry. Mark your calendars and we hope you will join us in October.
To ensure we are prioritizing and hearing from the agricultural community, I have hired the first ever Senior Agricultural Advisor to the Chairman, and she keeps me updated on your needs and those of the agriculture industry as a whole.
From a policy making standpoint, we have been busy at the CFTC evaluating the results of the Request for Comment on the Commitments of Traders, or COT, report.
ACSA has played a key role in providing strong feedback and recommendations for improvement of the report, including publishing it twice a week. We are evaluating our internal processes and data to provide a pathway forward to enhance the report for all market participants. Thank you all for your engagement on COT.
One of my main goals here at the CFTC is to avoid the implementation of unnecessary and ineffective regulatory burdens, like those put on futures commission merchants (FCMs) and swap dealers after Dodd-Frank. We've seen the number of FCMs significantly decline, particularly those that serve agricultural producers. Farmers should not have to pay larger fees to hedge their risks just to comply with government regulations.
A great example of this is the Basel III proposal from the Biden administration. Capital rules should not unintentionally reduce liquidity, push producers and hedgers out of the marketplace, or increase the cost of clearing.
That is why I have worked together with the prudential regulators to develop a new, less burdensome Basel III proposal that aims to streamline regulations and reduce capital requirements. We are focused on ensuring continued access to American derivatives markets, because efficient access to risk management tools is critical for everyone in the room and the agricultural economy as whole. Farmers should be able to hedge risk without excessive or unnecessary expenses - that is common sense.
As we seek opportunities to enhance risk management tools for row croppers, livestock producers, and agribusinesses, we are strengthening our roots by ensuring the CFTC's relationship with the U.S. Department of Agriculture (USDA) remains strong.
Before the CFTC was formed in 1974, its functions were housed in the USDA as the Grain Futures Administration, and then the Commodity Exchange Administration, dating back to the early 1920s and 1930s. This is the time when clearing members began to report their large trades and open market positions. And the Administration began to publish annual reports of data, similar to the CFTC's current Commitments of Traders reports.
Building upon our roots, the CFTC is currently working on a draft memorandum of understanding (MOU) with the USDA. The purpose is to strengthen collaboration efforts and information sharing between the two agencies to better serve all of our constituents, which are America's farmers, ranchers, and agribusinesses.
We are also continuing to focus on ensuring there are markets available for a wide range of crops and products that producers need. Agriculture in America is diverse. The needs of cotton producers are different from livestock producers. A one-size-fits-all policymaking approach does not work, and my staff and I understand that.
That's why engagement with the industry matters, and that's why visits like the one we recently had in Florida are vital. I look forward to hopefully joining some of you on your farms, at your cotton gins, and at your businesses soon as well.
Between ongoing droughts, Brazil dumping products into our markets, cheap imports of synthetic fibers from Asia, and high input costs, I know it has been a tough year for many of you. Rest assured, the Trump administration and the CFTC realize the situation. If there are ways we can make your lives easier while still preserving market integrity and protecting participants, we will seriously consider them.
As I prepare to close, I want to reflect again on something I saw repeatedly during my recent farm tour. The balance between innovation and tradition is exactly what America, and farmers, do best. We do not move backward, but we also do not abandon the foundations that make us strong.
On the eve of our nation's 250th birthday, we're reminded that the future of agriculture will include technology, data analytics, modernized markets, and much more. But it will also continue to rely on hardworking Americans willing to wake up early, work the land, take risks, merchandise, and ship crops for not only our country, but the world.
I'm proud the CFTC will continue working to ensure our markets support both innovation and the people at the heart of American agriculture.
Thank you.
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Original text here: https://www.cftc.gov/PressRoom/SpeechesTestimony/opaselig7