OFAC entered into two separate settlement agreements with a UK-based, U.S.-owned subsea service provider in the oil and gas industry to settle potential liability for apparent violations of the Cuban Assets Control Regulations ("CACR") and the Iran Transactions and Sanctions Regulations ("ITSR"). In connection with the first settlement, Acteon Group Ltd. ("Acteon") and its UK subsidiary, 2H Offshore Engineering Ltd. ("2H Offshore"), agreed to settle seven apparent violations of the CACR stemming from the alleged deceptive practices of 2H Offshore's former Global Director. According to the

In a recent Report titled "The Fundamental Review of the Trading Book and Emerging Markets," ISDA highlighted uncertainties concerning the implementation of the Fundamental Review of the Trading Book ("FRTB"), the revised framework for market risk capital, and whether all jurisdictions will satisfy the Basel Committee's 2022 implementation target. ISDA reported that the framework was developed for large and "globally active banks." However, ISDA raised questions regarding the most appropriate approach for smaller banks and the degree to which the framework will affect institutions in emerging

SIFMA called for the creation of a uniform set of rules governing the strike prices of options listed on national securities exchanges. To facilitate the creation of uniform strikes listing rules, SIFMA suggested establishing a listing committee - comprised of the SEC, the Options Clearing Corporation and the various exchanges that list options - to formulate a uniform set of rules.

FINRA proposed to make permanent FINRA Rule 6190 (Compliance with Regulation NMS Plan to Address Extraordinary Market Volatility) and Rule 6121.01 (Resumption of Trading in Securities Subject to the Regulation NMS Plan to Address Extraordinary Market Volatility). FINRA's action is in response to the permanent approval of the Regulation NMS Plan to Address Market Volatility. FINRA filed the proposal for immediate effectiveness, stating that it is not proposing any substantive changes to the text of these rules.

During a Financial Stability Board ("FSB") roundtable discussion, global regulators cited progress on the transition away from LIBOR to alternative risk-free, benchmark interest rates. CFTC Chair J. Christopher Giancarlo described growing evidence of a "shift in sentiment" among market participants from "why are we moving away from LIBOR" to "how do we adopt SOFR [Secured Overnight Finance Rate]". He noted that the CFTC's expectations in the next year are that the SOFR futures and swaps and related debt markets will hit levels where "liquidity begets liquidity." Mr. Giancarlo highlighted "the