The Federal Reserve Board and Consumer Financial Protection Bureau (collectively, the "agencies") proposed amendments (the "2018 proposal") to Regulation CC, which implements the Expedited Funds Availability Act ("EFA Act"). The agencies also reopened the comment period on proposed amendments to the funds availability provisions of Regulation CC and related definitions and appendices (the "2011 proposal"). In the 2018 proposal, the agencies proposed a calculation methodology for implementing a statutory requirement to adjust the dollar amounts in the EFA Act every five years. Comments on the

The U.S. Department of the Treasury Office of Foreign Assets Control ("OFAC") extended the expiration date of certain General Licenses concerning companies on the Specially Designated Nationals and Blocked Persons list. Specifically, the General Licenses 13H, 14D, 15C and 16D modified their previous versions by extending the expiration date from January 7, 2019 to January 21, 2019. General License 13H, which replaces General License 13G, authorizes certain transactions necessary to divest or transfer debt, equity or other holdings in EN+ Group PLC, GAZ Group and United Company RUSAL PLC

SEC Chair Jay Clayton, SEC Chief Accountant Wesley Bricker and Public Company Accounting and Oversight Board ("PCAOB") Chair William D. Duhnke III raised concerns about foreign markets that restrict access to information about U.S.-listed companies operating overseas. In a joint statement, Mr. Clayton, Mr. Bricker, and Mr. Duhnke emphasized that information necessary for regulatory oversight of U.S.-listed companies with substantial overseas operations does not always "flow" to U.S. capital markets regulators. One of the biggest issues facing regulators and investors is the inability of the

The CFTC proposal to amend Rule 160.5 - which requires certain "covered persons" ( i.e., FCMs, RFEDs, CTAs, CPOs, IBs, MSPs and SDs) to provide annual privacy notices to customers at least once a year during the life of the customer relationship - was published in the Federal Register. Comments must be submitted by February 8, 2019. As previously covered, the proposed revisions implement the Fixing America's Surface Transportation Act's (FAST Act) December 2015 statutory amendment to the Gramm-Leach-Bliley Act.

A financial investment firm agreed to pay $425,000 to settle charges for impeding a Chicago Mercantile Exchange investigation.