1. Melt butter in medium skillet over medium-high heat. Add onion and bell pepper; cook 10 to 12 minutes or until onions are golden, stirring frequently. Add brown sugar; cook and stir until melted. Stir in olives. Reduce heat to low; keep warm.
2. Season flank steak with salt and black pepper. Heat oil in grill pan or large skillet over medium-high heat. Grill steak about 3 minutes on each side for medium-rare (145°F) or until desired doneness.
3. Transfer steak to cutting board; cut steak crosswise into 1/4-inch slices. Arrange onion mixture on serving platter; top with steak slices. Serve immediately.
Serving Suggestion
The beef mixture can be served on toasted Italian bread slices.
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