The European Commission extended the deadline for Brexit from March 29, 2019 to May 22, 2019 on the condition that UK Prime Minister Theresa May's proposed withdrawal agreement is approved by the UK Parliament by March 29, 2019. If the agreement is not approved by that date, the extension will end April 12, 2019.

The Federal Reserve Board ("FRB") provided guidance on the treatment of operating leases for state member banks under Regulation H. According to the Supervision and Regulation Letter, under the current accounting standard on leases, lessees recognize lease assets and lease liabilities as investments on the balance sheets for finance leases, but do not recognize lease assets and lease liabilities as investments on the balance sheets for operating leases. Under the new standard, lessees will recognize lease assets and lease liabilities as investments on balance sheets for virtually all leases

A broker-dealer agreed to settle FINRA charges for failing to maintain a sufficient system of risk management controls and supervisory policies to manage activities on alternative trading systems. According to the Letter of Acceptance, Waiver and Consent, Arbor Research & Trading, LLC agreed to a censure, and to pay a civil monetary penalty of $25,000.

At an open meeting, the CFTC adopted a final rule for an exception to the swap dealer de minimis threshold for swaps entered into by insured depository institutions ("IDIs") in connection with loans to customers. The rule adds a new paragraph (4)(C) to the definition of "swap dealer" in CFTC Regulation 1.3 and would permit IDIs to exclude, from counting towards the $8 billion de minimis dealing threshold (but not the lower "special entity" threshold), swaps that satisfy specified criteria: (1) the swap is entered into with a customer no more than 90 days before execution of the applicable loan

Pursuant to Executive Order 13850, the U.S. Treasury Department ("Treasury") Office of Foreign Assets Control ("OFAC") designated Venezuela's national development bank and four subsidiaries for enabling the regime of Nicolas Maduro. Treasury Secretary Steven T. Mnuchin stated that "regime insiders have transformed [the bank] and its subsidiaries into vehicles to move funds abroad in an attempt to prop up Maduro." The designations come after the "illegal" arrest of President Guaido's aide. Secretary Mnuchin called for Roberto Marrero and other political prisoners to be released immediately. In