Subscribe
Share
Share
Embed
This week's USA Regulatory Updates covers ten developments across securities regulation, digital asset enforcement, FDA drug shortages, energy grid stability, medical device safety, and consumer protection.
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. 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 MoU framework.
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.
The FDA continues updating its drug shortages database under Section 506C — manufacturers must notify six months in advance of permanent discontinuances. 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.
Bolton Medical issued a voluntary field safety notice for the RelayPro Thoracic Stent Graft System due to device release failures including fatal outcomes. 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.
Essential listening for CCOs, heads of AML, securities compliance officers, digital asset compliance leads, and legal counsel in US financial services, MedTech, and fintech.
Carver RegWatch delivers weekly regulatory intelligence across jurisdictions. Published May 24, 2026
Covers ten developments across securities regulation, digital asset enforcement, FDA drug shortages, energy grid stability, medical device safety, and consumer protection.
Essential listening for CCOs, heads of AML, securities compliance officers, digital asset compliance leads, and legal counsel in US financial services, MedTech, and fintech.
Regulatory news, updates, and insights for USA presented by the Carver Agents team
Welcome to Carver's USA Regulatory Updates for May 24, 2026.
The California Department of Financial Protection and Innovation has issued an order waiving the mortgage insurance requirement under California Code of Regulations, title 10, section 30.802(a)(1)(B) for state-chartered credit unions. This waiver applies to mortgage loans exceeding 80 percent of appraised value. Additionally, the department provided detailed procedures and sample forms for merger approvals under Financial Code Sections 15200 and following.
In California, the Department of Financial Protection and Innovation has ordered Anh Management LLC, operating as Hermes Bitcoin, to cease all digital financial asset kiosk operations by May 20, 2026. The enforcement follows findings of violations including charging excessive fees, breaching transaction limits, inadequate disclosures, and failure to maintain an anti-money laundering program. Operators must comply with a maximum cash transaction limit of $1,000 per day and fees capped at five dollars or 15 percent of the transaction value.
The U.S. Food and Drug Administration continues to update its drug shortages database, reflecting current shortages and permanent discontinuations as reported by manufacturers under Section 506C of the Federal Food, Drug, and Cosmetic Act. Manufacturers are required to notify the FDA six months in advance of permanent discontinuances or as soon as practicable if advance notice is not possible.
The U.S. Securities and Exchange Commission is seeking public input on regulatory responses to recent market changes involving novel exchange-traded funds, including event contract ETFs. Some fund sponsors have delayed the effectiveness of these novel ETFs while the SEC evaluates potential risks and regulatory implications.
The U.S. Centers for Disease Control and Prevention has confirmed additional hantavirus cases linked to the M/V Hondius cruise ship. Repatriated passengers are subject to quarantine orders under the Public Health Service Act through May 31, 2026.
The U.S. Department of Energy has issued an emergency order directing the Campbell coal-fired power plant to remain operational beyond its planned shutdown date to ensure grid stability in the Midwest during peak summer demand. The plant must remain available through August 16, 2026.
Bolton Medical has issued a voluntary field safety notice for its RelayPro Thoracic Stent Graft System in the United States. The notice concerns RelayPro N4 Non-Bare Stent devices sized 32 millimeters or larger due to reported failures to release the partially deployed endoprosthesis from the delivery system, including fatal outcomes. Manufacturing modifications have been implemented, and investigations continue. Healthcare providers are advised to consider alternative endoprosthesis options and follow updated instructions for managing potential device release failures.
Kettle Cuisine has recalled specific lots of Whole Foods Market Kitchen Minestrone Soup due to undeclared shrimp allergens posing serious health risks. Consumers are urged to return affected products for a refund and contact Kettle Cuisine for further information.
The International Organization of Securities Commissions, or IOSCO, concluded its 2026 Annual Meeting with the re-election of its Board Chair and Vice-Chairs. The organization approved five reports, including one on an artificial intelligence supervisory toolkit and another on market liquidity. IOSCO welcomed a new signatory to its Multilateral Memorandum of Understanding framework and is preparing for its 2027 Annual Meeting.
Finally, a recent court decision in California affirmed that civil money penalty remedies entitle appellants to a jury trial, as referenced in the matter of Philip Serpe on May 19, 2026.
That wraps up today's regulatory updates. Visit carveragents.ai for more information.