Featured Stories
SEC Settles Litigation With Individual Charged in Microcap Fraud Scheme
WASHINGTON, July 11 -- The Securities and Exchange Commission issued the following litigation release (No. 20-cv-00007; S.D.N.Y. filed Jan. 2, 2020):
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Securities and Exchange Commission v. Steve M. Bajic et al., No. 20-cv-00007 (S.D.N.Y. filed Jan. 2, 2020)
On July 7, 2026, the Securities and Exchange Commission filed a consent and proposed final judgment as to defendant Steve Bajic in a previously-filed action against 15 defendants alleging a fraudulent microcap scheme.
The Commission's complaint, filed on January 2, 2020, alleged that Bajic, a citizen of Canada and Croatia, worked with
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WASHINGTON, July 11 -- The Securities and Exchange Commission issued the following litigation release (No. 20-cv-00007; S.D.N.Y. filed Jan. 2, 2020):
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Securities and Exchange Commission v. Steve M. Bajic et al., No. 20-cv-00007 (S.D.N.Y. filed Jan. 2, 2020)
On July 7, 2026, the Securities and Exchange Commission filed a consent and proposed final judgment as to defendant Steve Bajic in a previously-filed action against 15 defendants alleging a fraudulent microcap scheme.
The Commission's complaint, filed on January 2, 2020, alleged that Bajic, a citizen of Canada and Croatia, worked withRajesh Taneja to help undisclosed public company insiders or control persons secretly sell large quantities of microcap stock. The complaint alleged that Bajic and Taneja used a network of foreign companies they controlled to buy and sell that stock in order to conceal the ownership interest of numerous companies' control persons. According to the complaint, Christopher McKnight used business bank accounts he controlled to conceal the sources of funds used to pay for related stock promotions.
Bajic consented to the entry of a final judgment enjoining him from violating Sections 5(a), 5(c), 17(a)(1) and 17(a)(3) of the Securities Act of 1933 and Sections 10(b), 13(d) and 15(a) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and (c) thereunder. The judgment orders Bajic to pay $837,734 in disgorgement, which will be deemed satisfied by the forfeiture judgment entered against Bajic in a parallel criminal case, United States v. Bajic, No. 23-cr-10306 (D. Mass), and imposes a penny stock bar against him. The Commission also notified the court that it would not seek a civil penalty as part of the bifurcated judgment previously entered against Rajesh Taneja in 2021. On September 27, 2023, the court entered a final judgment by consent as to McKnight, which enjoined him from violating and aiding and abetting violations of Sections 5(a), 5(c), 17(a)(1) and 17(a)(3) of the Securities Act and Section 10(b) of the Exchange Act and Rules 10b-5(a) and (c) thereunder and ordered him to pay disgorgement of $985,044, prejudgment interest of $164,082, and a civil penalty of $75,000. In 2020 and 2021, the court previously entered final or bifurcated judgments by consent as to five individual defendants and final default judgments as to nine entity defendants.
The SEC's ongoing litigation is being handled by Kathleen Shields in the SEC's Boston Regional Office.
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Resources
* Final Judgment -Steve Bajic (https://www.sec.gov/files/litigation/litreleases/2026/judg26583-bajic.pdf)
* Final Judgment -Christopher McKnight (https://www.sec.gov/files/litigation/litreleases/2026/judg26583-mcknight.pdf)
* Commission's Status Report Regarding Final Judgment Against Defendant Rajesh Taneja (https://www.sec.gov/files/litigation/litreleases/2026/status26583-taneja.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26583
SEC Files Proposed Final Judgments Against Ex-Investor Relations Executive, 2 Friends Charged With Insider Trading
WASHINGTON, July 11 -- The Securities and Exchange Commission issued the following litigation release (No. 1:25-CV-06704; S.D.N.Y. filed Aug. 14, 2025):
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Securities and Exchange Commission v. Robert Yedid, Andrew Kaufman, and Mark Jacobs, No. 1:25-CV-06704 (S.D.N.Y. filed Aug. 14, 2025)
On July 8, 2026, the U.S. Securities and Exchange Commission filed proposed final consent judgments as to defendants Robert Alan Yedid, Andrew Kaufman, and Mark Jacobs, whom the SEC previously charged with insider trading that allegedly resulted in more than $500,000 in combined illegal profits.
The SEC's
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WASHINGTON, July 11 -- The Securities and Exchange Commission issued the following litigation release (No. 1:25-CV-06704; S.D.N.Y. filed Aug. 14, 2025):
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Securities and Exchange Commission v. Robert Yedid, Andrew Kaufman, and Mark Jacobs, No. 1:25-CV-06704 (S.D.N.Y. filed Aug. 14, 2025)
On July 8, 2026, the U.S. Securities and Exchange Commission filed proposed final consent judgments as to defendants Robert Alan Yedid, Andrew Kaufman, and Mark Jacobs, whom the SEC previously charged with insider trading that allegedly resulted in more than $500,000 in combined illegal profits.
The SEC'scomplaint, filed on August 14, 2025, alleged that Kaufman and Jacobs traded in the securities of numerous public companies based on material nonpublic information provided by Yedid from at least 2019 through 2024. As alleged, during that time, Yedid, a managing director at a consulting firm that assists pharmaceutical and biotechnology companies with investor communications, obtained material nonpublic information about the firm's clients--including drug trial results, financial and regulatory information, and pending mergers and acquisitions--that he repeatedly shared with Kaufman and Jacobs, who then engaged in lucrative insider trading. Kaufman allegedly shared his illicit proceeds with Yedid by handing him envelopes of cash.
Yedid, Kaufman, and Jacobs each pled guilty to charges in the parallel criminal case, United States v. Yedid, Crim No. 1:25cr248 (S.D.N.Y.). Yedid was sentenced to: (i) 15 months of incarceration; (ii) three years of supervised release; (iii) a fine of $50,000; and (iv) forfeiture of $244,901. Kaufman was sentenced to: (i) time served; (ii) three years of supervised release; (iii) a fine of $95,000; (iv) 450 hours of community service hours; and (v) forfeiture of $489,802. Jacobs was sentenced to: (i) three years of probation; (ii) a fine of $20,000; (iii) 225 hours of community service; and (iv) forfeiture of $36,138.
The final judgments, which are subject to court approval, would order Yedid liable for disgorgement in the amount of $146,940.60 and prejudgment interest of $20,879.31, for a total of $167,819.91; Kaufman liable for disgorgement in the amount of $342,861.40 and prejudgment interest of $48,718.40, for a total of $391,579.80; and Jacobs liable for disgorgement in the amount of $36,138, with the amounts ordered against each defendant deemed satisfied by the forfeiture orders against them in the parallel criminal case.
The Court previously entered bifurcated judgments against Yedid, Kaufman, and Jacobs permanently enjoining them from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and, as to Yedid, barring him from associating with a broker or dealer and from serving as an officer or director of a public company.
The SEC's investigation was conducted by Jason Anthony, Nancy C. Iheanacho, and Margaret Vizzi, and supervised by Paul H. Pashkoff and Pei Y. Chung. The litigation was led by Daniel Maher and supervised by David A. Nasse.
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Resources
* Final Judgment - Robert Yedid (https://www.sec.gov/files/litigation/litreleases/2026/judg26582-robert-yedid.pdf)
* Final Judgment - Andrew Kaufman (https://www.sec.gov/files/litigation/litreleases/2026/judg26582-andrew-kaufman.pdf)
* Final Judgment - Mark Jacobs (https://www.sec.gov/files/litigation/litreleases/2026/judg26582-mark-jacobs.pdf)
* Consent Motion for Final Judgments (https://www.sec.gov/files/litigation/litreleases/2026/judg26582-mark-jacobs.pdf)
* Declaration of Nancy Iheanacho (https://www.sec.gov/files/litigation/litreleases/2026/lr-26582-declaration-nancy-iheanacho.pdf)
* Declaration of Nancy Iheanacho - Appendix A (https://www.sec.gov/files/litigation/litreleases/2026/lr-26585-appendix-nancy-iheanacho-declaration.pdf)
* Declaration of Nancy Iheanacho - Appendix B (https://www.sec.gov/files/litigation/litreleases/2026/lr-26585-appendix-b-nancy-iheanacho-declaration.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26582
FCC Public Safety & Homeland Security Bureau Issues Public Notice: Comment, Reply Comment Dates for Notice of Proposed Rulemaking on Improving Next Generation 911 Networks
WASHINGTON, July 11 -- The Federal Communications Commission Public Safety and Homeland Security Bureau issued the following public notice (PS Docket Nos. 21-479, 13-75):
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On June 26, 2026, the Federal Communications Commission released a Second Report and Order and Second Further Notice of Proposed Rulemaking (Order and Further Notice) adopting rules to ensure Next Generation 911 (NG911) network reliability and interoperability, and proposing further changes to the rules to ensure interoperability and accessibility of NG911 networks./1
Comment and Reply Comment Dates. On July 10, 2026,
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WASHINGTON, July 11 -- The Federal Communications Commission Public Safety and Homeland Security Bureau issued the following public notice (PS Docket Nos. 21-479, 13-75):
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On June 26, 2026, the Federal Communications Commission released a Second Report and Order and Second Further Notice of Proposed Rulemaking (Order and Further Notice) adopting rules to ensure Next Generation 911 (NG911) network reliability and interoperability, and proposing further changes to the rules to ensure interoperability and accessibility of NG911 networks./1
Comment and Reply Comment Dates. On July 10, 2026,the Office of the Federal Register published a summary of the Further Notice, including the associated comment and reply comment dates./2 The Further Notice set deadlines for filing comments and reply comments at 30 and 60 days, respectively, after publication of a summary of the Further Notice in the Federal Register./3 Accordingly, comments must be filed on or before August 10, 2026, and reply comments must be filed on or before September 8, 2026. The Further Notice contains the comment filing instructions./4
Effective Date of Rules. On July 10, 2026, the Office of the Federal Register also published a summary of the Order./5 Accordingly, the rules adopted in the Order will take effect on August 10, 2026./6
Compliance Dates. Section 9.20 of the rules contains new or modified information collection requirements that are subject to review by the Office of Management and Budget (OMB)./7 Compliance with the newly adopted rules, including the IP reliability benchmarks, will not be required for covered 911 service providers (CSPs) until 18 months after the Commission issues a public notice announcing approval by OMB,/8 with the exception of filing initial attestations for certain CSPs, which will be required six months after the public notice announcing approval by OMB./9 No CSPs will be required to file reliability certifications or interoperability reports until 18 months after the Commission issues the public notice announcing approval by OMB./10 The Commission's public notice will announce those compliance dates.
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Footnotes:
1/ Facilitating Implementation of Next Generation 911 Services (NG911), Improving 911 Reliability, PS Docket Nos. 21-479, 13-75, Second Report and Order and Second Further Notice of Proposed Rulemaking, FCC 26-39 (June 26, 2026), https://www.fcc.gov/document/fcc-modernizes-next-generation-911-reliability-and-interoperability-0 (Order and Further Notice).
2/ See 91 Fed. Reg. 42699 (July 10, 2026).
3/ Order and Further Notice at 1.
4/ Order and Further Notice at 82, para. 208.
5/ See 91 Fed. Reg. 42794 (July 10, 2026).
6/ Order and Further Notice at 82-83, para. 211.
7/ Id.
8/ Id. at 62, para. 157 ("All IP-based CSPs will have 18 months from the public notice date to come into compliance with the updated reliability benchmarks for physical diversity, operational integrity, and network monitoring, or to implement alternative measures.").
9/ Id. ("Newly designated CSPs will have six months from the public notice date to file an attestation with the Commission identifying themselves as CSPs.").
10/ Id. at 62-63, para. 157 ("CSPs covered by the 2013 rules will continue to be subject to the reliability benchmarks established under those rules. CSPs that have previously filed annual certifications under the 2013 rules will not be required to file additional annual certifications during the transition period. All CSPs will file their initial reliability certifications and interoperability reports pursuant to the updated rules 18 months from the public notice date.").
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Original text here: https://docs.fcc.gov/public/attachments/DA-26-708A1.pdf
Kentland Bank Assumes All Deposits of Kentland Federal Savings and Loan Association
WASHINGTON, July 10 -- The Federal Deposit Insurance Corporation issued the following news release:
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Kentland Bank Assumes All Deposits of Kentland Federal Savings and Loan Association
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WASHINGTON-Kentland Federal Savings and Loan Association of Kentland, Indiana was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into an agreement with Kentland Bank of Kentland, Indiana (no affiliation with Kentland Federal Savings and Loan Association) to purchase substantially all assets and
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WASHINGTON, July 10 -- The Federal Deposit Insurance Corporation issued the following news release:
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Kentland Bank Assumes All Deposits of Kentland Federal Savings and Loan Association
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WASHINGTON-Kentland Federal Savings and Loan Association of Kentland, Indiana was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into an agreement with Kentland Bank of Kentland, Indiana (no affiliation with Kentland Federal Savings and Loan Association) to purchase substantially all assets andassume all deposits of Kentland Federal Savings and Loan Association.
As of March 31, 2026, Kentland Federal Savings and Loan Association reported total assets of $3.73 million and total deposits of $3.65 million. It was the smallest standalone bank in the United States.
The sole branch of Kentland Federal Savings and Loan Association will permanently close. Depositors of Kentland Federal Savings and Loan Association will automatically become depositors of Kentland Bank. The deposits assumed by Kentland Bank will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship. The Kentland branch of Kentland Bank is located at 111 N 4th St, Kentland, Indiana 47951, and the phone number is 219-474-1500.
Customers of Kentland Federal Savings and Loan Association will have immediate access to their deposits at all branches of Kentland Bank during normal business hours beginning Monday, July 13, 2026. Loan customers of Kentland Federal Savings and Loan Association should make payments to Kentland Bank at any branch of Kentland Bank.
Customers with questions about this transaction may visit the FDIC's website or contact the FDIC toll-free at 1-866-314-1744. This phone number will be operational this evening until 8:00 p.m., Central Time (CT); on Saturday from 9:00 a.m. to 5:00 p.m., CT; on Sunday from noon to 4:00 p.m., CT; Monday from 8:00 a.m. to 5:00 p.m., CT; and thereafter from 8:00 a.m. to 4:00 p.m., CT.
The FDIC preliminarily estimates that the failure will cost the Deposit Insurance Fund approximately $1.2 million.
Contact(s)
MediaRequests@fdic.gov
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Original text here: https://www.fdic.gov/news/press-releases/2026/kentland-bank-assumes-all-deposits-kentland-federal-savings-and-loan
Fiberglass Door Panels From China Injure U.S. Industry, Says USITC
WASHINGTON, July 10 (TNSrep) -- The U.S. International Trade Commission issued the following news release on July 9, 2026:
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Fiberglass Door Panels from China 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 fiberglass door panels from China that the U.S. Department of Commerce (Commerce) has determined are sold at less than fair value and subsidized by the government of China.
Chairman David S. Johanson and Commissioners Jason E. Kearns and Amy A. Karpel voted
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WASHINGTON, July 10 (TNSrep) -- The U.S. International Trade Commission issued the following news release on July 9, 2026:
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Fiberglass Door Panels from China 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 fiberglass door panels from China that the U.S. Department of Commerce (Commerce) has determined are sold at less than fair value and subsidized by the government of China.
Chairman David S. Johanson and Commissioners Jason E. Kearns and Amy A. Karpel votedin the affirmative.
As a result of the Commission's affirmative determinations, Commerce will issue an antidumping duty order and a countervailing duty order on imports of this product from China.
The Commission's public report on Fiberglass Door Panels from China (Inv. No. 701-TA-758 and 731-TA-1739 (Final), USITC Publication 5766, July 2026) will contain the views of the Commission and information developed during the investigations.
The report will be available on the USITC website (http://pubapps.usitc.gov/applications/publogs/qry_publication_loglist.asp) by August 18, 2026.
Status of proceedings, links to relevant documents, and more information about the investigations can be found at the Commission's Investigations Database System (IDS).
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Original text here: https://www.usitc.gov/press_room/news_release/2026/er0709_68900.htm
FCC Mandates Cybersecurity Upgrades for Nation's Emergency Alert Systems
WASHINGTON, July 10 -- The Federal Communications Commission (FCC) has taken definitive action to harden the nation's emergency communication infrastructure against evolving cyber threats. In a Report and Order (FCC 26-38), adopted June 25, 2026, and released June 29, the Commission established mandatory cybersecurity baseline requirements for participants in the Emergency Alert System (EAS), addressing vulnerabilities that have recently been exploited by bad actors to broadcast unauthorized and offensive content.
The new rules, effective 60 days after their upcoming Federal Register publication,
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WASHINGTON, July 10 -- The Federal Communications Commission (FCC) has taken definitive action to harden the nation's emergency communication infrastructure against evolving cyber threats. In a Report and Order (FCC 26-38), adopted June 25, 2026, and released June 29, the Commission established mandatory cybersecurity baseline requirements for participants in the Emergency Alert System (EAS), addressing vulnerabilities that have recently been exploited by bad actors to broadcast unauthorized and offensive content.
The new rules, effective 60 days after their upcoming Federal Register publication,target specific attack vectors that have plagued broadcasters. Under the new mandate, EAS Participants--including radio, television, cable, and satellite providers--must secure their EAS equipment, studio-transmitter links, and remotely managed content-processing systems. Specifically, providers are now required to change all default passwords to strong, unique credentials, ensure all security-related software and firmware patches are tested and installed promptly, and implement firewalls or network segmentation to restrict remote access to authorized users only.
FCC Chairman Brendan Carr underscored the necessity of these measures, referencing past incidents where poorly secured alerting equipment was hijacked to transmit false alerts--most notoriously a "zombie apocalypse" hoax--and recent breaches that allowed the broadcast of offensive material. "Today's item builds on our prior work by taking commonsense steps to strengthen the cybersecurity of our emergency alert systems," Chairman Carr stated in his separate statement.
While the current order focuses on securing EAS infrastructure, the FCC simultaneously issued a Further Notice of Proposed Rulemaking (FNPRM) exploring broader modernizations. These include proposals for end-to-end message authentication, the implementation of a universal alert identifier to suppress duplicate messages, and improved geotargeting precision. The Commission is also inviting comment on allowing EAS Participants to utilize software-based EAS solutions, a shift intended to increase operational flexibility and facilitate faster maintenance compared to legacy, hardware-reliant systems.
The FCC explicitly declined, however, to apply these new cybersecurity requirements to Wireless Emergency Alerts (WEA) at this time, citing a lack of reported successful attacks on that specific system.
The Commission has terminated the previous docket (PS Docket No. 22-329) related to the 2022 Alerting Security Notice of Proposed Rulemaking, opting instead for this more targeted approach to mitigate known, repeatedly exploited vulnerabilities. Interested parties may file comments on the pending proposals in PS Dockets 25-224, 15-94, and 15-91 following the forthcoming Federal Register publication.
-- Vidhi Gianani, Targeted News Service
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Original text of the document posted on June 29, 2026 can be viewed here: https://docs.fcc.gov/public/attachments/FCC-26-38A1.pdf
CPSC Issues Recall Alert Involving BBRKIN & MouTec Biometric Firearm Safes
WASHINGTON, July 10 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: BBRKIN and MouTec Biometric Firearm Safes
Hazard: The biometric lock on the gun safes can be opened by unauthorized users, posing a serious injury hazard and risk of death.
Remedy: Repair
Recall Date: July 09, 2026
Units: 9,100
Consumer Contact: BBRKIN by email at support@bbrkin.com or online at www.securitysafe.store/recallreplacement or www.securitysafe.store and click on "Recall" at the top of the page and select "Recall Form" for more information.
Recall Details
Description:
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WASHINGTON, July 10 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: BBRKIN and MouTec Biometric Firearm Safes
Hazard: The biometric lock on the gun safes can be opened by unauthorized users, posing a serious injury hazard and risk of death.
Remedy: Repair
Recall Date: July 09, 2026
Units: 9,100
Consumer Contact: BBRKIN by email at support@bbrkin.com or online at www.securitysafe.store/recallreplacement or www.securitysafe.store and click on "Recall" at the top of the page and select "Recall Form" for more information.
Recall Details
Description:This recall involves BBRKIN and MouTec Biometric Gun Safes with model number QHXP029B. The gray steel safes are used to store firearms and valuables. The safes measure about 14 inches by 12 inches by 57 inches, have one shelf and can store approximately five firearms. The recalled safes have the following serial number range: SQC200034980 - SQC202319171. The serial number is on a label on the lower right corner of the front of the safes. The brand name "MouTec" or "BBRKIN" is on the upper right corner of the front of the safes.
Remedy: Consumers should immediately stop using the biometric feature of the recalled safe, remove the batteries from the safe, and only use the key when storing firearms. Contact BBRKIN to receive a free repair kit.
Incidents/Injuries: None reported
Sold At: Amazon.com from March 2020 through February 2024 for between $260 and $409.
Importer(s): Jomani International Inc., of Monterey Park, California
Distributor(s): Ningbo Moyumaoyi Co. Ltd., dba BBRKIN, of China
Manufactured In: China
Recall number: 26-607
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Original text here: https://www.cpsc.gov/Recalls/2026/Biometric-Gun-Safes-Recalled-Due-to-Serious-Injury-Hazard-and-Risk-of-Death-Sold-Exclusively-on-Amazon-com-by-BBRKIN
