Inside U.S. Regulations

SEC Novel ETF Regulatory Review, California Hermes Bitcoin Kiosk Enforcement & IOSCO AI Supervisory Toolkit — USA Regulatory Updates May 24, 2026

Carver Agents — Mon, 25 May 2026 12:22:14 +0530

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 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.

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.
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

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[USA] Key Regulatory Updates on Drug Shortages, Bankruptcy & Safety Acts

Carver Agents — Sun, 17 May 2026 22:21:27 +0530

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.

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[USA] Regulatory Briefing: Vaccine Review, Recall & DEA Rescheduling

Carver Agents — Mon, 11 May 2026 06:28:33 +0530

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.

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[USA] Key Regulatory Updates on Hepatitis A, Payments & Derivatives

Carver Agents — Mon, 04 May 2026 12:34:07 +0530

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.

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[USA] Key Regulatory Shifts in Election Law, Solar & Modernization

Carver Agents — Mon, 27 Apr 2026 09:45:50 +0530

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.

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[USA] Key Regulatory Actions on Earnings Claims, SEC, and Product Safety

Carver Agents — Tue, 21 Apr 2026 02:28:31 +0530

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.

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[USA] Regulatory Enforcement & Market Updates Across Key Sectors

Carver Agents — Mon, 13 Apr 2026 07:33:11 +0530

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.

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[USA] Regulatory Insights on Cannabis, Trafficking & Risk Monitoring

Carver Agents — Tue, 07 Apr 2026 00:25:25 +0530

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.

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[USA] Regulatory Insights on Banking, AI, Consumer & Capital Adequacy

Carver Agents — Tue, 31 Mar 2026 01:05:30 +0530

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.

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[USA] Regulatory Insights on Section 337, Prediction Markets & Enforcement

Carver Agents — Mon, 23 Mar 2026 21:38:17 +0530

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.

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[USA] Regulatory Insights: Licensing, Fraud, and Energy Policy Updates

Carver Agents — Mon, 16 Mar 2026 22:01:20 +0530

This episode provides an in-depth look at the latest regulatory developments affecting multiple sectors including mortgage lending, securities fraud, malware-related enforcement, and federal energy leasing under the One Big Beautiful Bill Act.

Listeners will learn about the California Department of Financial Protection and Innovation’s revocation of West One Capital Group Inc.’s license due to unpaid assessments, emphasizing the critical importance of compliance with licensing requirements.

The podcast also covers the U.S. Securities and Exchange Commission’s permanent injunctions against individuals involved in fraudulent municipal bond offerings, highlighting ongoing efforts to combat securities fraud through court judgments and consent orders.

Additionally, the Department of the Interior’s recent offshore oil and gas lease sale under the One Big Beautiful Bill Act is discussed, marking a notable milestone with the lowest deepwater royalty rates in decades.

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[USA] Regulatory Developments in Risk, Enforcement & Healthcare Sectors

Carver Agents — Mon, 09 Mar 2026 18:19:02 +0530

This episode covers critical regulatory developments spanning risk advisory, sanctions, equine welfare, SEC enforcement, and healthcare sectors.

Listeners will gain insight into the CBOE exchange's shift from a flat fee to a tiered API pricing model designed to align costs with actual usage, a significant update after nearly a decade. The SEC has taken decisive enforcement action by barring an individual involved in fraud and misappropriation, underscoring ongoing vigilance in financial regulation.

Additionally, the episode addresses the Department of Education's proposed restrictive definition of 'professional degree' impacting healthcare professionals’ student loan eligibility, highlighting opposition efforts to preserve access. Enhanced joint enforcement by California’s SBA and USDA Offices of Inspector General targets sophisticated federal program fraud schemes, signalling increased accountability. Finally, enforcement of equine welfare standards is reinforced through a legal ruling holding a racehorse trainer accountable for neglect leading to a horse’s death.

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2026-03-03 - סייבער-זיכערהייט ראטגעבער - דערמאָנונג צום פינאַנציעלן סעקטאָר וועגן פֿאַרשטאַרקטע סייבער-געפֿאַרן

[USA] Regulatory Insights on Vaccine Lawsuit, Tax Policy & Cybersecurity

Carver Agents — Mon, 02 Mar 2026 22:27:19 +0530

This episode covers critical regulatory developments affecting sectors such as Licensee/Regulatee Investigation, Universal Service Fund, Independent Contractor status, Dynamic Factor Model applications, and Antifraud enforcement.

Major updates include a multistate lawsuit co-led by Attorney General Rob Bonta challenging the Trump Administration’s overhaul of childhood vaccine recommendations. The suit highlights violations of federal laws and risks to public health due to lowered vaccine uptake and misinformation.

Another key topic is the rejection of new tax policy changes limiting clean energy projects, which threatens to increase costs and disrupt energy planning across multiple states. Additionally, the Cybersecurity and Infrastructure Security Agency (CISA) issued an emergency directive to secure vulnerable Cisco SD-WAN systems amid active cyber threats, underscoring urgent national security priorities.

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[USA] Key Regulatory Updates: Spectrum, Licensing & Fiduciary Duty

Carver Agents — Mon, 23 Feb 2026 15:00:31 +0530

This episode covers regulatory updates in Intercarrier Compensation, Insurance Producer, License Assignment, Fiduciary Duty, Satellite Licensing.

The FCC has expanded broadband opportunities in the 900 MHz band, enabling utilities and critical infrastructure providers to utilize the full 10 MHz spectrum for improved connectivity. A negotiation-based transition to paired 5 MHz blocks aims to optimize spectrum efficiency.

The Commission also approved broadcast license assignments to Sinclair subsidiaries despite opposition and granted multiple satellite license modifications and temporary authorities.

Enforcement remains a priority with a proposed fine against Zhejiang Dahua Technology Company and reminders for MVNOs to comply with Robocall Mitigation Database requirements.

Financial regulators announced the termination of enforcement agreements with banks, signaling improved compliance, while the Basel Committee published analysis on synthetic risk transfers.

Listeners will gain insights into evolving intercarrier compensation frameworks, insurance licensing enforcement, fiduciary duty obligations, and satellite operations.

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[USA] Regulatory Insights: FCC, Public Health, and Disaster Relief Updates

Carver Agents — Tue, 17 Feb 2026 21:26:36 +0530

Welcome to Carver's USA Regulatory Updates.

In this episode, we explore the FCC’s advancement of pivotal proposals including updates to the Lifeline program, aimed at improving discounted communications services for low-income consumers, and revisions to 900 MHz spectrum rules and FM translator application limits to better optimize spectrum use.

We highlight California Attorney General Rob Bonta's successful temporary restraining order preventing the federal termination of over $600 million in public health grants, protecting critical state health programs.

The FDA’s recent approval of changes to the iPLEDGE Risk Evaluation and Mitigation Strategy (REMS) now permits at-home pregnancy testing during and after treatment, streamlining patient care by removing prior waiting periods.

We cover disaster relief initiatives as the Small Business Administration declares a disaster for California following late 2025 storms, providing Economic Injury Disaster Loans to affected small businesses and nonprofits to aid recovery.

Finally, the Department of Labor’s significant settlement with Kaiser Foundation Health Plan reforms insurer practices related to mental health and substance use disorder care, including a $28 million reimbursement and penalties.

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[USA] Regulatory Updates: Arms Control, Infrastructure, and Enforcement Actions

Carver Agents — Mon, 09 Feb 2026 04:24:44 +0530

Welcome to Carver's USA Regulatory Updates.

This episode discusses the expiration of the New Strategic Arms-Reduction Treaty, highlighting the Secretary-General's call for renewed nuclear arms control talks to mitigate global security risks.

In infrastructure, the indefinite suspension of federal funding for the Gateway Tunnel Project threatens construction progress and economic stability, with New York and New Jersey launching legal challenges.

Significant enforcement actions include the FTC's $120 million judgment against the Sanctuary Belize real estate scam perpetrators, as well as civil penalties and compliance orders imposed on energy and investment firms for antitrust violations.

The Federal Reserve has introduced updated loan contract requirements aimed at enhancing financial stability by allowing banks greater flexibility during monetary tightening.

The FCC has placed key reports, including the December 2024 Numbering Resource Utilization Forecast and Local Number Portability reports, into the public record.

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[USA] Key Updates from FDIC, SEC, FCC & Labor Dept

Carver Agents — Thu, 05 Feb 2026 02:10:23 +0530

Welcome to Carver's USA Regulatory Updates.

This episode highlights recent enforcement orders published by the Federal Deposit Insurance Corporation, including termination of consent orders and insurance arrangements. We discuss banks’ adjustments to loan contracts amidst monetary policy changes, incorporating stricter financial covenants to allow flexibility during tightening cycles.

In labor and employee benefits, the U.S. Department of Labor’s Employee Benefits Security Administration recovered over $1.4 billion in fiscal year 2025, enhancing fiduciary governance and expanding access to mental health and substance use disorder benefits.

The Federal Communications Commission has opened a docket for public comments on the nationwide Verizon outage, focusing on impacts to 911 emergency calls and public safety. The FCC also proposes rules enabling eligible 900 MHz licensees to transition voluntarily to paired broadband licenses, enhancing capacity while retaining narrowband options.

We cover recent SEC statements clarifying that tokenized securities are federally regulated securities regardless of format, detailing issuer- and third-party-sponsored models. Modifications to the Non-Crypto Market Maker Program impact eligibility, product scope, and monitoring. Additionally, we explore how AI and tokenized finance are reshaping financial trust foundations.

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