The U.S. Treasury Department ("Treasury") proposed regulations relating to the new Opportunity Zone tax incentive. The tax incentive is intended to encourage investments in economically distressed communities by allowing taxpayers to defer capital gains tax if they reinvest within 180 days in "qualified opportunity funds" ("QOFs"), which are generally required to maintain at least 90 percent of their assets in "qualifying opportunity zone property." In addition, an investor who holds a QOF investment for at least 10 years may qualify to increase its basis to the fair market value of the

The SEC updated the International Financial Reporting Standards Taxonomy 2018. The updates will affect common reporting practice for disclosure requirements in the IFRS, such as (i) "sensitivity of fair value measurement to changes in unobservable inputs" and (ii) quantitative information regarding significant unobservable inputs utilized in fair value measurement. Comments must be submitted by November 19, 2018.

The Financial Action Task Force ("FATF") reviewed the progress of certain jurisdictions that committed to addressing anti-money laundering and combating the financing of terrorism ("AML/CFT") deficiencies. The FATF identified the Bahamas, Botswana, Ethiopia, Ghana, Pakistan, Serbia, Sri Lanka, Syria, Tunisia, Yemen, and Trinidad and Tobago as jurisdictions that have made "high-level political commitments" to address their AML/CFT deficiencies. The political commitments include an action plan for each jurisdiction to strengthen its compliance with the FATF standards. In addition, the FATF

A broker-dealer agreed to settle charges for improper entry of Intermarket Sweep Orders and compliance violations related to supervision requirements under Regulation NMS.

A broker-dealer settled FINRA charges for erroneously disbursing higher than agreed upon fees from customer accounts to third-party advisors.