SEC Divisions and Offices announced their transition plans regarding the recommencement of normal operations. The Division of Trading and Markets plans to address any pending filings, submissions and requests for staff action based on when the items were submitted to the SEC. All SRO rule filings made through the Electronic Form Filing System ("EFFS") during the period from December 26, 2018 to January 28, 2019 will be deemed filed with the EFFS as of January 28, 2019. The Office of Compliance Inspections and Examinations ("OCIE") said that it expects to resume examinations, "including those

FINRA launched a new self-reporting initiative to promote firm compliance with suitability requirements related to transactions in 529 savings plans.

The U.S. Treasury Department ("Treasury") Office of Foreign Assets Control ("OFAC") lifted sanctions imposed on En+ Group plc, UC Rusal plc and JSC EuroSibEnergo (collectively, the "companies"). Under the terms of their removal from OFAC's Specially Designated Nationals and Blocked Persons List ("SDN List"), the companies have reduced sanctioned Russian oligarch Oleg Deripaska's "direct and indirect shareholding stake in these companies and severed his control." OFAC stated that the majority of the board of directors for En+ Group plc and UC Rusal plc will be independent directors that have no

CFTC Commissioner Dan Berkovitz proposed a number of measures that might increase competition in the swaps markets. In remarks at the Commodity Markets Council State of the Industry, Mr. Berkovitz stated that he voted against the CFTC's proposal to change the swap trading rules because it conflicted with the free and open competition principles that are within the Commodity Exchange Act and the Dodd-Frank Act. He complained that the current swaps market is dominated by a "few large bank dealers," with the five largest dealers party to 80% of the notional amount traded. He stated that "[t]hese

The U.S. Treasury ("Treasury") Department Office of Foreign Assets Control ("OFAC") sanctioned Petróleos de Venezuela, S.A. ("PdVSA"), the Venezuelan state-owned oil and natural gas company, pursuant to Executive Order ("EO") 13850. The move comes less than a week after the United States recognized opposition politician Juan Guaidó as the interim leader of Venezuela. In general - and except as provided in the General Licenses described below - as of January 28, 2019, the property and interests in property of PdVSA and its majority-owned subsidiaries are blocked, and U.S. persons are prohibited