A global technology and defense firm, on behalf of its former subsidiary, agreed to settle three violations of the Ukraine-Related Sanctions Regulations. According to the U.S. Treasury Office of Foreign Assets Control ("OFAC"), Aeroflex/Metelics, Inc. ("Metelics"), a former subsidiary of Cobham Holdings, Inc. ("Cobham"), sold "components to be incorporated into commercial air traffic control radar" through distributors in Canada and Russia to an individual whose property and interests in property are blocked pursuant to Executive Order 13661. OFAC stated that Cobham voluntarily disclosed the

In its fourth annual report, the Financial Stability Board ("FSB") highlighted progress made under G20 financial reforms. The G20 reforms were intended to address the root causes of the global financial crisis and build a more resilient financial system. The report highlighted the implementation status on various G20 goals, including bank resiliency and ending "too big to fail," as well as derivatives reform. FSB assessed the overall effects of the reforms on financial market infrastructure and incentives to clear derivatives. FSB also emphasized its future efforts to establish financial

In a draft policy note titled The Benchmarks (Amendment) (EU Exit) Regulations 2018: Explanatory Information, the UK Government detailed its approach to "onshoring financial services legislation." The proposed approach would retain and amend EU law so that the EU Benchmark Regulation ("BMR") continues to operate in the UK after the exit date. The proposed approach would: create a UK register for benchmarks, with the UK supervised entities being permitted to use the benchmarks on that register; establish a temporary 24-month transition period for EU-approved benchmarks; beyond that period

President Donald J. Trump signed an Executive Order ("E.O.") authorizing the imposition of sanctions on persons, entities and their associates who partake in "corruption, human rights abuses, and undermining democracy in Nicaragua." The new sanctions authorizations arise from Nicaragua's violent response to protests that began on April 18, 2018, and the Nicaraguan government's "dismantling. . . [of] the rule of law, its use of indiscriminate violence and repressive tactics against civilians, as well as its corruption leading to the destabilization of Nicaragua's economy." Pursuant to the E.O

The FDIC will eliminate unnecessary and duplicative text in the Code of Federal Regulations to make it easier for readers to find the current, inflation-adjusted maximum civil money penalty ("CMP") amounts. The final rule is effective on January 15, 2019. The final rule will: remove duplicative, descriptive regulatory language with regard to CMP amounts that repeats existing statutory language related to such CMPs; codify Congress's recent modifications to CMP inflation adjustments in the FDIC's regulations; and bring readers to an annually released notice in the Federal Register for