June 23, 2022 Key Takeaways: In two recent speeches, Matthew Axelrod, Assistant Secretary for Export Enforcement at the Department of Commerce’s Bureau of Industry and Security (“BIS”), has signaled policy changes related to...more
6/23/2022
/ Antitrust Violations ,
Bureau of Industry and Security (BIS) ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Sanctions ,
Self-Disclosure Requirements ,
U.S. Commerce Department
BIS Imposes New Export Controls on Certain Industrial EAR99 Items -
Currently, all items on the Export Administration Regulations’ (“EAR“) Commerce Control List (“CCL”) require a license for export, re-export or transfer...more
6/14/2022
/ Belarus ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Entity List ,
EU ,
Export Controls ,
General Licenses ,
Imports ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
UK ,
Ukraine
I. U.S. Persons Prohibited from Providing Accounting, Trust and Corporate Formation, and Management Consulting Services to Russia -
On May 8, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control...more
U.S. Actions Following increased sanctions on Russian banks and a new Executive Order banning investment in the Russian Federation (reported by Foley Hoag here), on April 7, 2022, the U.S. sanctioned two major Russian...more
I. Biden Administration Import and Investment Ban Related to Russian Energy -
On March 8, 2022, the Biden administration announced its widely anticipated ban on the import of Russian oil and other energy-related...more
3/14/2022
/ Belarus ,
Biden Administration ,
Economic Sanctions ,
Energy Sector ,
EU ,
Export Controls ,
Financial Institutions ,
FinCEN ,
General Licenses ,
Imports ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Russia ,
UK ,
Ukraine
Key Takeaways:
• U.S. imposes additional sanctions on Russian elites, along with their family members, companies, and personal vehicles
• Actions targeting the defense sector and Russian government-affiliated media...more
3/8/2022
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Executive Orders ,
Export Controls ,
Financial Transactions ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
SWIFT ,
Ukraine
On February 28, 2022, the U.S. government announced new sanctions on the Central Bank of Russia, National Wealth Fund, Ministry of Finance, and Russian Direct Investment Fund, dramatically increasing the economic impact of...more
3/2/2022
/ Biden Administration ,
Economic Sanctions ,
Enforcement Priorities ,
Executive Orders ,
Export Controls ,
Financial Transactions ,
Foreign Currency ,
Foreign Trade Regulations ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Ukraine
As we had reported in our earlier client alert and 2022 Year in Preview, Russia’s invasion of Ukraine has resulted in a new wave of sanctions and export controls on Russia, including sanctions on key sectors of the Russian...more
2/28/2022
/ Australia ,
Canada ,
China ,
Economic Sanctions ,
EU ,
Export Controls ,
Exports ,
Financial Institutions ,
Financial Services Industry ,
Japan ,
Licensing Rules ,
New Zealand ,
Russia ,
SDN List ,
Sovereign Debt ,
UK ,
Ukraine ,
Vladimir Putin
This is the fifth post in this year’s series examining important trends in white collar law and investigations. Our previous post discussed trends in State AG enforcement. Up next: SEC Enforcement in 2022: A Look Ahead. ...more
2/25/2022
/ Afghanistan ,
Belarus ,
Biden Administration ,
Bureau of Industry and Security (BIS) ,
Burma ,
Cambodia ,
CFIUS ,
China ,
Cuba ,
Economic Sanctions ,
Enforcement ,
Ethiopia ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Human Rights ,
International Criminal Court ,
Iran Sanctions ,
ITAR ,
Joint Comprehensive Plan of Action (JCPOA) ,
Myanmar ,
Nicaragua ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Sudan ,
U.S. Treasury ,
Uyghur Forced Labor Prevention Act (UFLPA) ,
Venezuela ,
Virtual Currency ,
Withhold Release Orders (WROs)
For months, the Biden administration and the governments of U.S. allies around the world have raised concerns about Russian actions in the region. In the same breath, those governments have warned of massive, coordinated...more
2/18/2022
/ Aerospace ,
Banking Sector ,
Banks ,
Belarus Sanctions ,
Biden Administration ,
China ,
Economic Sanctions ,
Energy Sector ,
EU ,
Export Controls ,
Foreign Direct Product Rule ,
Investment Controls ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
SWIFT ,
UK ,
Ukraine
On Friday, January 28, 2022, U.S. Customs and Border Protection (“CBP”) issued a Withhold Release Order (“WRO”) on disposable gloves produced in Malaysia by TY Industry Holdings Sdn Bhd (“YTY Group”), including YTY Industry...more
On November 3, 2021, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) added two Israeli entities to the Entity List due to malicious cyber activities. In its press release, BIS stated that the...more
11/15/2021
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
Cryptocurrency ,
Cyber Crimes ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Interim Final Rules (IFR) ,
Israel ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Sanctions ,
SDN List
On May 28, 2021, U.S. Customs and Border Protection (“CBP”) released the first Withhold-Release Order (“WRO”) of the Biden administration on seafood from Dalian Ocean Fishing Co., Ltd. (“Dalian”), a Chinese company, due to...more
This is the second in our First 100 Days series examining important trends in white collar law and investigations in the early days of the Biden administration. Our previous entry discussed SEC enforcement. Up next,...more
3/17/2021
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Bureau of Industry and Security (BIS) ,
China ,
Enforcement ,
Export Administration Regulations (EAR) ,
Export Control Reform Act (ECRA) ,
Export Controls ,
Exports ,
Fraud ,
Imports ,
Iran ,
Popular ,
Russia ,
Sanctions ,
Trump Administration ,
Venezuela
Proposed Rules on CFIUS Mandatory Declarations Released: No More NAICS Codes!
On May 21, 2020, the Department of the Treasury released a proposed rule that would modify the requirements for Committee on Foreign Investment...more
6/11/2020
/ Bulk Electric System ,
CFIUS ,
China ,
Cross-Border Transactions ,
Energy Sector ,
Export Controls ,
Foreign Investment ,
Huawei ,
Human Rights Act ,
Iran Sanctions ,
Metals ,
Money Laundering ,
NAICS ,
Nicaragua ,
North Korea ,
Proposed Rules ,
Sanctions ,
Zimbabwe
New CFIUS Regulations Released: Final Rules Impact Foreign Investment in Technology, Infrastructure, and Data (TID) Businesses and Real Estate -
On January 13, 2020, the Department of the Treasury issued final regulations...more
2/6/2020
/ Artificial Intelligence ,
Bureau of Industry and Security (BIS) ,
CFIUS ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Investment ,
Office of Foreign Assets Control (OFAC) ,
Technology Sector
FAQs on How New Rules Impact Foreign Investment in U.S. Businesses -
When do the new CFIUS regulations go into effect? -
On January 13, 2020, the Department of the Treasury issued final regulations (31 CFR §§800, 802)...more
This is the sixth in our start-of-year series examining important trends in white collar law and investigations in the coming year. Our previous entry discussed enforcement by the Massachusetts Attorney General’s Office in...more
1/24/2020
/ Bureau of Industry and Security (BIS) ,
Chief Compliance Officers ,
China ,
Compliance ,
Corporate Counsel ,
Cuba ,
Customs and Border Protection ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Entity List ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Hong Kong ,
Huawei ,
Human Rights ,
Information Technology ,
Iran Sanctions ,
Magnitsky Act ,
National Security ,
New Guidance ,
New Regulations ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Software ,
Syria ,
Technology Sector ,
Turkey ,
U.S. Treasury ,
US Department of State ,
Venezuela ,
Voluntary Disclosure ,
White Collar Crimes
DOJ Issues Revised Export Control and Sanctions Enforcement Policy for Business Organizations Providing Clear Guidance on the Benefits of Self-Disclosing Violations -
On December 13, 2019, the Department of Justice (DOJ)...more
In December, the Department of Justice (DOJ) announced the release of a new policy for business organizations regarding voluntary self-disclosures of export control and sanctions violations. The new Policy makes explicit that...more
Alert for Information and Communications Technology and Services Industries: Proposed New Rule Implements Unprecedented Regime to Review and Restrict Transactions -
The Department of Commerce (DOC) is accepting comments...more