Memory Lapse

• WWizards of the Coast2016-06-08
  Official Ruling
  Memory Lapse has a self-replacement effect that replaces the spell going to the graveyard before any other effect can replace that event. If the spell was cast using flashback, however, flashback will change the spell's destination from its owner's library to exile.

Rulings via Scryfall

• WO
  Wizards of the Coast2021-10-13

  Memory Lapse was banned in historic on October 13, 2021. Memory Lapse emerged as nearly a must-include in high-performing blue decks, being the most played nonland card in the Arena Open and Best-of-Three ladder. Removing it is likely to create further improvements in format diversity, so it is suspended in Historic. Source: https://magic.wizards.com/en/news/news/october-13-2021-banned-and-restricted-announcement
• WO
  Wizards of the Coast2022-01-25

  Memory Lapse was banned in historic on January 25, 2022. Blue decks in Historic continue to remain strong, so Memory Lapse is officially moving from the suspended list to banned in Historic. Source: https://magic.wizards.com/en/news/announcements/january-25-2022-banned-and-restricted-announcement