Subscribe
Share
Share
Embed
Covering Drug Shortages, Bankruptcy, Risk Management Program, Officer-Involved Shooting, Horseracing Integrity and Safety Act. Coverage includes FDA drug shortage notifications, California bankruptcy consent order, officer-involved shooting report, horseracing doping sanctions, and multi-state antitrust enforcement. Critical regulatory shifts in risk management and industry oversight sectors.
Regulatory news, updates, and insights for USA presented by the Carver Agents team
Welcome to Carver's USA Regulatory Updates for May 17, 2026.
The Federal Communications Commission of the United States announced plans for Auction 114, set to offer 132 FM radio construction permits. This auction will use a simultaneous multiple-round auction format with new application and bidding systems. The FCC is seeking comments on auction procedures, including bidding rules, minimum bids, and information disclosure. Applicants must submit short-form applications certifying familiarity with auction procedures and make upfront payments to establish bidding eligibility. Anonymous bidding procedures will be implemented to limit disclosure of bidder identities during the auction. This represents the first FM radio construction permit auction since auction authority was restored, impacting spectrum management and competition in the radio marketplace.
In enforcement news, the United States Securities and Exchange Commission filed litigation against Reign Financial International, LLC, Reign Financial International, Inc., and principals Giorgio Johnson, Gary Mills, Patrick Allen, Berone Capital, LLC, Jeremiah Beguesse, and Fabian Stone. The SEC alleges fraudulent activities and misappropriation of investor funds. The defendants face permanent injunctions against future violations of federal securities laws, disgorgement of ill-gotten gains, prejudgment interest, civil penalties, and a permanent officer and director bar against named individuals.
The Federal Trade Commission of the United States and the State of Illinois have jointly filed a legal complaint against B.E.S.T. GDR, LLC and its owner for deceptive advertising and fraudulent business practices involving fake local home repair business profiles. The defendants are required to cease deceptive advertising and marketing practices, stop creating or using fake business profiles, and comply with the FTC Act, the Reviews and Testimonials Rule, and the Gramm-Leach-Bliley Act.
The Federal Trade Commission Office of Administrative Law Judges denied a request for an evidentiary hearing in the matter of Jena Antonucci related to sanctions imposed for a doping violation under the Horseracing Integrity and Safety Act. Proceedings will be limited to briefing on legal issues. Parties must file proposed findings of fact, conclusions of law, proposed orders, and supporting legal briefs by June 10, 2026. Filings are limited to 7,500 words, with reply briefs limited to 2,500 words within ten days of service. The factual record is closed, and no evidentiary hearing will be held.
The United States Food and Drug Administration announced requirements under the Food and Drug Administration Safety and Innovation Act for manufacturers of certain critical drug products. Manufacturers must notify the FDA at least six months prior to permanent discontinuance or manufacturing interruptions likely to disrupt supply. If six months' notice is not possible, notification should be made as soon as practicable. Reporting applies to drugs that are life-supporting, life-sustaining, or used for debilitating diseases, excluding radiopharmaceuticals.
The California Department of Justice released a report on the officer-involved shooting of Charles Towns under Assembly Bill 1506. The report concluded that no criminal charges are appropriate and provided policy recommendations for the Los Angeles County Sheriff's Department. Recommendations include further training for deputies on the use of deadly force to minimize risk to bystanders and crossfire, training on sequestration of officers after officer-involved shootings, and revisions to policies on command and control during critical incidents involving multiple deputies.
California Attorney General Rob Bonta strongly opposes the Trump Administration’s proposed rollback of the Chemical Accident Prevention Rule. The 2024 safety provisions require safer technology analyses, employee participation, third-party audits, community transparency, and preparation for natural hazards and power loss at chemical facilities. The Attorney General advocates maintaining safer technology alternatives analysis requirements, preserving information availability including multilingual access and online data tools, and retaining third-party audit requirements.
In a multi-state antitrust enforcement update, Oregon Attorney General Ellen Rosenblum, along with state attorneys general from California, Washington, Nevada, and New York, warned of an enforcement gap as federal antitrust enforcement weakens due to leadership loss and shifting priorities. These states are increasing their roles in antitrust enforcement, pursuing major merger cases. Oregon’s Department of Justice requests doubling its antitrust unit staffing from eight to sixteen positions. States leverage unique legal authorities, such as jury trials in antitrust cases, to address corporate consolidation risks. The coalition calls for increased state legislative funding to expand antitrust enforcement capacity.
Finally, in California financial regulatory news, the Department of Financial Protection and Innovation entered a Consent Order with Yotta following the bankruptcy of Synapse. This order enables affected Yotta customers with positive cash balances as of May 17, 2024, to file claims with the Consumer Financial Protection Bureau Civil Penalty Fund. Customers should expect to receive account statements by July 15, 2026. Businesses are required to communicate effectively with affected customers regarding restitution.
That wraps up today's regulatory updates. Visit carveragents.ai for more information.