The U.S. Treasury Department ("Treasury") Office of Foreign Assets Control designated two Singapore-based entities and one individual under Executive Order 13551 for having engaged in a variety of illicit economic activities in support of the Democratic People's Republic of Korea ("DPRK") and evading U.S. sanctions. Separately, the DOJ unsealed a criminal indictment against the same individual for violating U.S. sanctions on the DPRK.

The FDIC proposed to rescind regulations mandating the disclosure of financial and other information by FDIC-insured state nonmember banks. The proposal states that upon the removal of FDIC Rules Part 350, all insured state nonmember banks and insured state-licensed branches of foreign banks would no longer be subject to the annual disclosure statement requirement. The FDIC stated that the policy objective of the proposed rule is to eliminate unnecessary or duplicative regulations. Comments must be submitted on or before November 26, 2018.

SEC Division of Investment Management (the "Division") Director Dalia Blass provided an overview of recent Division developments related to fund disclosure, the fund use of derivatives, and staff guidance. In an address at the ICI Securities Law Developments Conference, Ms. Blass described Division efforts intended to improve the quality and usefulness of information that investors receive about funds and advisers. She said that the Division developed simpler ways for investors to provide feedback on proposals that directly affect them ( e.g., a "feedback flier,") which allows investors to

SEC Commissioner Elad L. Roisman and SEC Division of Trading and Markets Director Brett Redfearn raised various questions and concerns relating to current market data products, market access services and related fees. At the SEC Staff Roundtable on Market Data and Market Access, Mr. Redfearn described the means by which market data is distributed and the costs associated with obtaining such data. He explained that the SEC divides market data into two types: (i) "core" market data consolidated through a central information processor called the "SIP," and (ii) proprietary data that is sold by

The SEC Division of Corporation Finance provided guidance concerning when a company may exclude certain shareholder proposals in its proxy statement under Exchange Act rules.