The oversight body of the Basel Committee on Banking Supervision finalized reforms to the Basel III international capital standards. U.S. banking agencies will assess how best to apply the reforms.

President Trump tweeted that "fines and penalties against Wells Fargo Bank . . . will be pursued and, if anything, substantially increased" in connection with alleged improper mortgage lending practices.

The SEC Office of Investor Education and Advocacy issued guidance on investment adviser sponsored wrap fee programs.

The SEC granted exemptive relief to a series of initial exchange-traded funds and funds that will be issued in the future as part of a series from certain Exchange Act notice requirements, from secondary market transactions of shares in the fund, and from the creation or redemption of aggregations of shares in the fund.