President Donald J. Trump intends to designate Comptroller of the Currency Joseph Otting as Acting Director of the Federal Housing Finance Agency ("FHFA"). Mr. Otting will continue to carry out his duties as Comptroller of the Currency. The current FHFA Director, Melvin Watt, advised the White House that he will leave at the conclusion of his term on January 6, 2019. Mr. Otting will be Acting Director upon Mr. Watt's departure until a permanent Director is confirmed.

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In a newly published "National Illicit Finance Strategy," the U.S. Treasury Department reviewed current enforcement efforts to combat terrorist financing, proliferation financing and money laundering.

New York State Department of Financial Services Superintendent Maria Vullo resigned and will leave the agency on February 1, 2019.

The U.S. Treasury Department Office of Foreign Assets Control ("OFAC") extended the expiration date of two General Licenses related to Ukraine-related sanctions. General License 13I, which replaces General License 13H, authorizes certain transactions necessary to divest or transfer debt, equity or other holdings in certain blocked persons. As for transactions authorized by this General License pertaining to GAZ Group or entities that GAZ Group owns, the expiration date is March 7, 2019. The expiration date for transactions involving En+ Group PLC or United Company Rusal PLC remains January 21