Update Regulatory Body Labels in the Institution Designation

**User Story**
As an Institution user, I want to be able to select discrete options reflecting my accurate Regulatory body during the account onboarding process, so that I don't get confused and enter incorrect information in the 'other'/free text regulatory body option field.

**Acceptance Criteria**
- [ ] Replace the following regulatory body options with new ones:
- ITA should be replaced with "European Council of Learning"
- Senate Council should be replaced with "....
- TBD to be replaced with "TBD..."

**Business ACs**
- [ ] Training and Documentation updated