FinCEN extended the deadline for certain individuals to file Foreign Bank and Financial Accounts Reports ("FBAR"). This affects individuals with signature authority over, but no financial interest in, a foreign financial account. The filing due date has been extended to April 15, 2020. The original expiration date was April 15, 2018.

The Board of Governors of the Federal Reserve System ("FRB") provided aggregate global indicator amounts for 2018. The indicator amounts are used in the calculation of risk-based capital surcharges for global systemically important bank ("GSIB") holding companies. The FRB stated that the methodology uses five categories that are proportional to systemic importance: an institution's size, interconnectedness, substitutability, complexity and cross-jurisdictional activity.

The Consumer Financial Protection Bureau ("CFPB") proposal to (i) streamline the no-action letter process and (ii) create a CFPB Product Sandbox was published in the Federal Register. Comments must be received before February 11, 2019. As previously covered, the goals of the proposal are as follows: to (i) streamline the application process for the filing and review of applications for no-action letters; (ii) expand the types of statutory and/or regulatory relief; (iii) "specify[] procedures for an extension where the relief initially provided is of limited duration"; and (iv) "provid[e] for

Extending the effectiveness of the no-action position it took in 2016, the SEC Division of Trading and Markets granted relief to certain broker-dealers that rely on registered investment advisers for compliance with anti-money laundering (i) Customer Identification Program Rules and (ii) Beneficial Ownership Requirements.

FINRA proposed technical revisions to the Supplemental Statement of Income ("SSOI") required to be filed under FINRA Rule 4524 ("Supplemental FOCUS Information"). The proposal, which is effectively immediately, conforms the SSOI with recently adopted amendments to SEC Financial and Operational Combined Uniform Single ("FOCUS") Reports. The amendments would allow broker-dealers to file the same information on both forms. FINRA proposed that the rule change go into effect for SSOIs filed on or after March 31, 2019.