Inside U.S. Regulations

This week's USA Regulatory Updates

• The SEC is seeking public input on regulatory responses to novel exchange-traded funds including event contract ETFs — with some fund sponsors delaying effectiveness while the SEC evaluates risks and regulatory implications.
• In California, the Department of Financial Protection and Innovation ordered Anh Management LLC operating as Hermes Bitcoin to cease all digital financial asset kiosk operations by May 20, 2026 — citing excessive fees, transaction limit breaches, inadequate disclosures, and failure to maintain an AML program. Cash transaction limits are capped at $1,000 per day and fees at $5 or 15 percent. Separately, the department waived mortgage insurance requirements for state-chartered credit unions on loans exceeding 80 percent of appraised value.
• IOSCO concluded its 2026 Annual Meeting approving five reports including an AI supervisory toolkit and market liquidity report, welcoming a new signatory to its Multilateral Memorandum of Understanding framework.
• The FDA continues updating its drug shortages database under Section 506C — manufacturers must notify six months in advance of permanent discontinuances or as soon as practicable. 
• The Department of Energy issued an emergency order directing the Campbell coal-fired power plant to remain operational through August 16, 2026 for Midwest grid stability during peak summer demand.
• Bolton Medical issued a voluntary field safety notice for the RelayPro Thoracic Stent Graft System due to device release failures including fatal outcomes. Manufacturing modifications are implemented and investigations continue. 
• Kettle Cuisine recalled Whole Foods Market Kitchen Minestrone Soup for undeclared shrimp allergens. 
• The CDC confirmed additional hantavirus cases from the M/V Hondius cruise ship with quarantine orders through May 31, 2026.
• A California court affirmed civil money penalty remedies entitle appellants to a jury trial — a significant precedent for financial enforcement proceedings.

Carver RegWatch delivers weekly regulatory intelligence across jurisdictions. Published May 24, 2026.
For more information, visit the Carver Agents website.

Also from Carver RegWatch this week:

• This Week in AI Regulations — EU AI Act high-risk classification guidelines, CNIL €487M record fines, China AI deepfake enforcement
• ASEAN RegWatch — Bank Indonesia 50bps rate hike to 5.25%, MAS revokes Bsquared payment licence, Singapore insider trading convictions
• EU Regulatory Updates — EU AI Act consultation deadline June 23, CNIL cybersecurity enforcement priorities 2026, EU Solidarity Fund €144M climate allocation
• Middle East RegWatch — OFAC Adani $275M Iran sanctions settlement, OFAC Amin Exchange designation, UAE Drupal CVE-2026-8495 cybersecurity alert
• India Regulatory Updates — RBI restricts Nagar Sahakari Bank, RBI cancels Yashwant Co-operative Bank licence, SEBI Investor Onboarding Regulatory Sandbox
• Global Regulatory Briefing — Bank of England CCP resolution paper, Malta tokenisation consultation, ASIC sustainability reporting focus 2026-27

Find all series at The Carver Agents Podcast

Articles mentioned:

1. Credit Unions
2. RelayPro Thoracic Stent Graft System
3. Statement on Novel Exchange-Traded Funds (ETFs)
4. FDA Drug Shortages Database
5. Philip Serpe, In the Matter of (timeline item) - May 19, 2026
6. IOSCO concludes 2026 Annual Meeting
7. DFPI Shuts Down Crypto Kiosk Operator for Cheating Consumers and Violating State Laws
8. Kettle Cuisine Issues Allergy Alert on Undeclared Shrimp in Whole Foods Market Kitchen Minestrone Soup
9. CDC Provides Update on Hantavirus Outbreak Linked to M/V Hondius Cruise Ship
10. Energy Secretary Saves Midwest from Losing Critical Coal Generation Ahead of Peak Summer Demand

This episode delivers in-depth coverage of emerging regulatory developments affecting critical sectors such as drug shortages, bankruptcy proceedings, risk management programs, officer-involved shootings, and the Horseracing Integrity and Safety Act.

We explore the FDA's new requirements for manufacturers to notify the agency of permanent discontinuances or interruptions in producing life-supporting drugs, ensuring supply chain stability. The California Department of Justice released a detailed report on the officer-involved shooting of Charles Towns, recommending enhanced training and policy reforms to improve law enforcement responses.

Additionally, the California Department of Financial Protection and Innovation issued a Consent Order with Yotta, enabling customers impacted by the Synapse bankruptcy to file claims for restitution, highlighting ongoing financial regulatory enforcement.

For more information, visit the Carver Agents website.

Articles mentioned:

1. FCC Plans FM Radio Auction
2. Jena Antonucci, In the Matter of (timeline item)
3. Reign Financial International Litigation
4. B.E.S.T. GDR, LLC FTC Complaint
5. RBC Capital Markets Consent Order
6. CBER-Regulated Products: Shortages and Discontinuations
7. Opinions and Adjudicatory Order: Horizon Thread (PTY) Ltd
8. Attorney General Bonta Opposes Chemical Accident Rule Rollback
9. AG Rayfield, State AGs Warn of Enforcement Gap
10. California DOJ Report on Officer-Involved Shooting of Charles Towns

This episode covers pivotal regulatory news affecting multiple sectors including Class I recalls, FDA approvals under priority programs, monetary judgments by the FTC, vaccine advisory committee activities, and DEA registration changes for medical marijuana.

Notably, Medical Action Industries issued a Class I Recall on convenience kits containing Namic RA syringes due to risks of serious injury from adaptor disconnections. Customers must quarantine affected products and update warning labels.

The FDA’s Vaccines and Related Biological Products Advisory Committee (VRBPAC) will convene to review the COVID-19 vaccine formula for the upcoming season, with public participation and comment deadlines outlined.

The DEA has rescheduled FDA-approved marijuana products from Schedule I to Schedule III, creating an expedited registration process that requires businesses to maintain state licenses alongside federal compliance.

For more information, visit the Carver Agents website.

Articles mentioned:

1. OAI / SBG / SB OAI JV
2. Fixing Failures to Communicate
3. Vaccines and Related Biological Products Advisory Committee Meeting May 28, 2026 Announcement
4. Convenience Kit Recall: Medical Action Industries Removes Convenience Kits Containing Namic RA Syringes
5. Americana Liberty, FTC v. (timeline item)
6. Typhoon Sinlaku Communications Status Report – May 3, 2026
7. U.S. Supreme Court Issues Temporary Stay on Restrictions on Mifepristone after Attorney General Rayfield and Coalition File Brief
8. Attorney General Bonta Urged U.S. Supreme Court to Protect Telehealth Access to Mifepristone
9. Industry Bulletin 26:05 - 05/04/26 - Attorney General Rescheduling Order
10. FDA Grants Seventh Approval under the National Priority Voucher Pilot Program

This episode dives into essential regulatory developments across multiple sectors including Hepatitis A, drug safety, payment systems, environmental health advisories, and financial market compliance.

Notably, the Commodity Futures Trading Commission has extended the compliance deadline for Nodal Clear, L-L-C’s amended daily reporting requirements to October 31, 2026, granting a no-action enforcement stance until then. This extension allows additional time for testing and quality assurance.

The National Automated Clearing House Association announced a significant increase in the Same Day ACH per payment limit from $1 million to $10 million, effective September 17, 2027, requiring all network participants to upgrade systems accordingly.

Additionally, the FDA issued a safety alert concerning Concha Negra shell meat linked to a Hepatitis A outbreak in New York, urging disposal of contaminated stock and enhanced sanitation measures.

For more information, visit the Carver Agents website.

Articles mentioned:

1. 26-11
2. Raising the Limit to $10 Million Reflects the Demand for Same Day ACH
3. Notice: Drug and Biologics Safety Surveillance Best Practice Statement
4. Same Day ACH Per Payment Limit to Increase to $10 Million
5. Concha Negra (Black Shell) Shell Meat - Hepatitis A - April 2026
6. Development of Advisory Tissue Levels for Common Contaminants in California Sport-harvested Finfish and Shellfish: Cadmium
7. April 30, 2026 - Report on Administrative Proceedings For the Period October 1, 2025, through March 31, 2026
8. 27 April 2026 - Occasional Paper Series No. 387 - Understanding the banking sector capital framework in the European Union
9. RGGI States Welcome Virginia
10. M.12348

This episode covers pivotal regulatory developments impacting Election Law, Community Solar initiatives, and operational modernization across federal and state agencies.

Listeners will learn about the California Public Utilities Commission's new community renewable energy tariff, including mandates prioritizing low-income customers and wage compliance. We also dive into the federal court's injunction blocking the Nexstar-Tegna merger due to FCC ownership cap violations, underscoring the importance of full commission oversight in media mergers.

Additionally, the Federal Reserve’s strategic modernization plan aims to centralize key operational functions under senior leadership to improve efficiency and standardization across all Reserve Banks.

For more information, visit the Carver Agents website.

Articles mentioned:

1. CPUC Community Solar Programs Prove Success Across California
2. Gomez on Nexstar-Tegna Court Ruling
3. Christopher J Waller: Modernising Federal Reserve operations in the 21st century
4. Waller, Modernizing Federal Reserve Operations in the 21st Century
5. CFTC Reaffirms Exclusive Jurisdiction Over Prediction Markets
6. Written Comments Part 4
7. Attorney General Bonta Reminds School Districts of Legal Responsibility
8. Attorney General Bonta Moves to Permanently Block Executive Order
9. Attorney General Bonta Secures Public Access to Amazon Price Fixing Evidence
10. Investment Company Act Notice: Saba Capital Income & Opportunities Fund II

This episode covers crucial regulatory developments involving deceptive earnings claims in multi-level marketing, updates from the SEC on equity and options trade reporting, and important product safety recalls related to hazardous substances. Additionally, listeners will learn about new FDA inspection programs for biological product manufacturers.

The Federal Trade Commission has issued a permanent order against Forever Living and its operators for deceptive earnings claims, requiring substantiation for any earnings statements and banning misrepresentations. In parallel, the FTC settled enforcement actions against Stormy Wellington, mandating strict adherence to truthful earnings disclosures.

The Securities and Exchange Commission released a concept proposal addressing governance and technology challenges for the Consolidated Audit Trail system, inviting public comment on potential restructuring. The SEC also announced a regional compliance seminar focusing on fiduciary standards and examination priorities for investment advisers and companies.

A product recall was initiated for a nail polish remover containing methylene chloride and chloroform due to serious health risks, with consumers urged to safely dispose of affected products. Furthermore, the FDA rolled out a structured compliance program for prelicense and preapproval inspections of biological product manufacturers to ensure product safety and regulatory compliance.

For more information, visit the Carver Agents website.

Articles mentioned:

1. FTC Order to Prohibit Forever Living and its Operators from Deceiving Consumers about Potential Earnings
2. Cattywampus: Statement on the CAT Concept Release
3. US and UK Regulators Warn Banks of AI Model Mythos' Cybersecurity Risks
4. FTC Takes Action Against High-Level MLM Participant who Deceived Workers About the Amount of Money They Can Earn
5. FCC Reminder to Debris Removal & Utility Repair Teams
6. DE-1
7. Product Recall
8. FTC Testifies Before Senate Commerce, Science and Transportation Committee
9. Prelicense and Preapproval Inspections of CDER-Regulated Biological Product Manufacturers (7346.832M)
10. 2026 Compliance Outreach Program Regional Seminar for Investment Advisers and Investment Companies (New York)

This episode delves into recent regulatory developments impacting a range of sectors, including the Bitnomial Exchange, criminal enforcement actions, prescription fraud, opioid-related prosecutions, and commodities trading focusing on Minneapolis Hard Red Spring Wheat.

Notably, the SEC has barred two individuals, Danny M. Salinas and Mai T. Nguyen, from association with broker-dealer and advisory roles following findings of fraudulent conduct related to unregistered securities sales. Additionally, the Department of Justice announced federal sentencing of a repeat offender in Florida for methamphetamine distribution and firearm offenses as part of Operation Take Back America.

Further updates include the Commodity Futures Trading Commission's approval of amendments to the BTNL platform clearing member rules, exempting certain members from futures commission merchant registration requirements. Also covered is the extension of MIAX Futures' Minneapolis Hard Red Spring Wheat Market Maker Program and Futures Volume Incentive Program through June 30, 2026, with adjusted obligations and incentives.

For more information, visit the Carver Agents website.

Articles mentioned:

1. Administrative Proceedings: Danny M. Salinas and Mai T. Nguyen
2. Sopchoppy Man Sentenced to Federal Prison for Gun & Drug Crimes (DOJ)
3. Brooklyn Man Pleads Guilty to Setting NYPD Vehicles Ablaze (DOJ)
4. BTNL | Clearing Member Rules Update
5. Treasury, IRS provide guidance to States for nominating census tracts as qualified opportunity zones under the One, Big, Beautiful Bill
6. MIAX | Modification and Extension of the Minneapolis Hard Red Spring Wheat Market Maker Program
7. MIAX | Extension of the Minneapolis Hard Red Spring Wheat Futures Volume Incentive Program
8. Gainesville Felon Faces Federal Firearm Charge (DOJ)
9. Topeka Man Uses Federal Grant Funds As Shopping Money
10. San Fernando Valley Clinic Operator Sentenced to 18 Years in Federal Prison for Role in Ring that Sold Illegal Opioid Prescriptions for Cash

This episode covers vital regulatory updates across multiple sectors including adult-use cannabis, drug trafficking enforcement, advanced adverse event monitoring systems, the GENIUS Act's impact on stablecoin regulation, and international trafficking challenges.

Among the highlights, the New York Cannabis Control Board has delegated authority to approve adult-use cannabis licenses, with strict compliance and municipal input requirements to ensure effective local governance.

In law enforcement, significant convictions were reported involving firearm trafficking across U.S.-Canada borders and drug trafficking offenses, underscoring enhanced cross-border cooperation and stringent sentencing.

The FDA’s transition to the new Adverse Event Monitoring System (AEMS) introduces AI-driven analytics and a centralized reporting platform, enhancing pharmacovigilance and public health protection.

For more information, visit the Carver Agents website.

Articles mentioned:

1. Watch Live
2. IAIS concludes multi-year cycle of Holistic Framework implementation assessments
3. Former International Trucker Sentenced to Federal Prison for Conspiring to Traffic Guns Purchased in Florida and Found at Canadian Crime Scenes (DOJ)
4. Risk Minimization Action Plans (RiskMAPs) for Approved Products
5. London Man Sentenced for Methamphetamine Trafficking (DOJ)
6. No. 2026-20 - 2026-04-02 - Resolution to Issue Certain Adult-Use Cannabis Licenses
7. New Orleans Man Guilty of 2 Counts of Firearm Possession in Furtherance of Drug Trafficking (DOJ)
8. New Safety Information or Potential Signals of Serious Risks Identified from the FDA Adverse Event Monitoring System (AEMS)
9. Attorney General Bonta Opposes Trump Administration Proposal Targeting Diversity, Equity, and Inclusion Programs
10. Attorney General Bonta Opposes Trump Administration Proposal Targeting Diversity, Equity, and Inclusion Programs

This episode provides comprehensive regulatory updates impacting sectors such as USDA, banking turmoil, artificial intelligence, consumer protection, and capital adequacy.

Listeners will gain insight into the Federal Energy Regulatory Commission’s refined filing requirements for oil pipeline carriers, which aim to improve transparency and compliance through revenue-based filing thresholds and mandatory electronic certifications.

Additionally, the Federal Reserve’s updated supervisory approach encourages responsible innovation by rescinding restrictive crypto policies and emphasizing governance and risk management for AI use in banking. The episode also covers the Federal Trade Commission’s testimony on combating fraud, showcasing aggressive law enforcement and international collaboration.

For more information, visit the Carver Agents website.

Articles mentioned:

1. View File(s)
2. View File(s)
3. Attorney General Bonta Files Lawsuit Challenging Trump Administration’s Attempt to Impose Discriminatory Conditions on Billions in USDA Grant Funding
4. Basel III monitoring report
5. Regulation, Innovation
6. View File(s)
7. View File(s)
8. Lessons from the 2023 banking turmoil - Executive Summary
9. Investigative Summary 26-0004
10. FTC Testifies before the Joint Economic Committee on Agency's Efforts to Combat Fraud

This episode explores critical regulatory developments across multiple sectors including Capital Requirements, Section 337 investigations, Prediction Markets regulation, and federal enforcement actions related to firearms trafficking.

Key highlights include the United States International Trade Commission's termination of Section 337 investigations concerning small microwave oven patent claims following Whirlpool Corporation's complaint withdrawal, clarifying import restrictions and enforcement.

The Commodity Futures Trading Commission has issued an Advance Notice of Proposed Rulemaking to address compliance and regulatory frameworks for emerging prediction markets and event contracts, emphasizing market integrity and manipulation prevention under the Commodity Exchange Act.

Additionally, enforcement actions feature prominently with the SEC barring Stuart Frost from industry participation due to undisclosed fee violations, and a federal prosecution resulting in a 15-year sentence for firearms trafficking and methamphetamine distribution.

For more information, visit the Carver Agents website.

Articles mentioned:

1. 2026-03-17 - 337调查 - 美国ITC发布对小型微波炉
2. Jason Scott, DVM, In the Matter of
3. March 17, 2026 - Jason Scott, DVM, In the Matter of (timeline item)
4. PDF Version
5. Actions
6. Attorney General Bonta Sponsors Legislation Capping Commissary Prices at Immigration Detention Facilities
7. Gibt es ein Spannungsverhältnis zwischen Regulierung und Wettbewerbsfähigkeit? Handelsblatt Jahrestagung Bankenaufsicht
8. Gibt es ein Spannungsverhältnis zwischen Regulierung und Wettbewerbsfähigkeit?
9. Administrative Proceeding: Stuart Frost
10. Louisville Man Sentenced to 15 Years for Drug and Firearms Offenses (DOJ)