The Committee on Payments and Market Infrastructures ("CPMI") and IOSCO updated the Level 1 assessments online tracker, which shows self-reported progress on the implementation of the Principles for Financial Market Infrastructures for certain financial market infrastructures. According to CPMI-IOSCO, the update demonstrates that participating jurisdictions are moving forward toward implementing international standards for payment systems, central securities depositories, securities settlement systems, central counterparties and trade repositories.

A broker-dealer agreed to settle FINRA charges for failing to establish, maintain and implement a sufficient supervisory system to monitor the sales of nontraditional exchange-traded funds ("ETFs"). According to the Letter of Acceptance, Waiver and Consent, the violations committed by Parkland Securities, LLC ("Parkland") were aggravated by the fact that it previously informed FINRA that Parkland would implement corrective measures to resolve its deficiencies, but failed to do so. To settle the charges, Parkland agreed to a censure and to pay $20,000.

The European Securities and Markets Authority ("ESMA") laid out an approach to the application of the Markets in Financial Instruments Directive ("MiFID II") / Markets in Financial Instruments ("MiFIR") and the Benchmark Regulation ("BMR") in the event of a "no-deal" Brexit. ESMA noted that there is still uncertainty as to the timing and conditions for a Brexit and added that, if circumstances change, ESMA will modify its approach. ESMA stated that, in the case of a no-deal Brexit: trading venues in the United Kingdom will no longer be considered EU trading venues beginning on March 30, 2019

The Federal Reserve Board and FDIC (collectively, the "agencies") will jointly hold two meetings on the proposed merger of BB&T Corporation with SunTrust Banks, Inc. The agencies stated that the purpose of the meetings will be to collect information regarding the needs of the communities to be served, which will include an evaluation of the insured depository institutions' performance under the Community Reinvestment Act. The agencies also extended the public comment period through May 3, 2019.

North American Securities Administrators Association ("NASAA") President Michael Pieciak offered recommendations on how the SEC can improve Regulation Best Interest ("Regulation BI") to benefit investors. In a written statement to the U.S. House of Representatives Committee on Financial Services, Mr. Pieciak said that it is necessary to raise the "standard of care" applicable to investment professionals to "reflect the evolution of how financial advice is delivered to customers." The standard of care, according to Mr. Pieciak, cannot be a "conflicts disclosure regime," but must be one where