Welcome to Foley’s new Automotive MarketTrends newsletter. In each edition, we will focus on a different aspect of the automotive sector and highlight key trends in the industry. The global automotive industry is experiencing...more
We are now two years into the current presidential administration and regulators have imposed three of the ten largest Foreign Corrupt Practices Act penalties in history and the largest export controls penalty of all time....more
2/26/2019
/ Anti-Corruption ,
Antitrust Provisions ,
Audits ,
Automotive Industry ,
Compliance ,
Department of Justice (DOJ) ,
Export Controls ,
Exports ,
FBI ,
Foreign Corrupt Practices Act (FCPA) ,
Internal Controls ,
Multinationals ,
Risk Assessment ,
Risk Management ,
Supply Chain
Given the pace of change in the automotive space and related technologies, combined with increasing regulatory scrutiny and recent developments in trade and M&A, the global automotive industry can anticipate several risks and...more
1/23/2019
/ Acquisitions ,
Antitrust Violations ,
Automotive Industry ,
Cybersecurity ,
Employer Liability Issues ,
Foreign Corrupt Practices Act (FCPA) ,
Intellectual Property Protection ,
International Labor Laws ,
Manufacturers ,
Mergers ,
NAFTA ,
NHTSA ,
Supply Chain ,
Tariffs ,
Trade Relations ,
Transportation Industry ,
Trump Administration ,
United States-Mexico-Canada Agreement (USMCA)
The business community, lawmakers and even workers across North America breathed a collective sigh of relief on October 1, 2018, after the renegotiated NAFTA agreement was unveiled. Following negotiations that had become...more
11/30/2018
/ Agricultural Sector ,
Automotive Industry ,
Canada ,
Cross-Border Transactions ,
Exports ,
Forced Labor ,
Foreign Relations ,
Free Trade Agreements ,
Imports ,
Intellectual Property Protection ,
Investor State Dispute Settlement (ISDS) ,
Mexico ,
NAFTA ,
Section 232 ,
Tariffs ,
Trade Relations ,
Trump Administration ,
United States-Mexico-Canada Agreement (USMCA) ,
US Trade Policies
On September 30, 2018, the United States, Mexico and Canada announced that they have reached an agreement on a “new, modernized trade agreement for the 21st Century” (USTR, 09/30/2018). Going by the new name of the...more
11/8/2018
/ Automotive Industry ,
Canada ,
Cross-Border Transactions ,
Free Trade Agreements ,
Manufacturers ,
Mexico ,
NAFTA ,
Supply Chain ,
Trade Relations ,
Trump Administration ,
United States-Mexico-Canada Agreement (USMCA) ,
US Trade Policies
Private equity firms entered 2018 amid a confusing mix of record inflows and elevated prices. At the same time, new regulation was expected to raise the cost of capital while also reducing taxes, rolling back limits on...more
11/5/2018
/ Acquisitions ,
Business Development ,
Capital Gains ,
Corporate Taxes ,
EBITDA ,
Investors ,
Mergers ,
Portfolio Companies ,
Preferred Stock Financing ,
Private Equity ,
Private Equity Firms ,
Tax Cuts and Jobs Act ,
Tax Rates ,
Tax Reform
The automotive sector is getting a quick primer on the various ways in which the international trade laws can target automotive imports. In addition to the announcement of a potential Section 232 tariffs or other trade...more
8/13/2018
/ Automotive Industry ,
China ,
Exclusions ,
Force Majeure Clause ,
Imports ,
Notice Requirements ,
Presidential Memorandum ,
Section 301 ,
Supply Chain ,
Tariffs ,
Trade Relations ,
Trump Administration ,
US Trade Policies ,
USTR
Listening to companies that predicted chaos within their supply chains if there were not some kind of exemption process for the Section 301 tariffs, the U.S. Trade representative has announced a process for importers to...more
7/18/2018
/ Automotive Industry ,
China ,
Exclusions ,
Force Majeure Clause ,
Imports ,
Notice Requirements ,
Presidential Memorandum ,
Section 301 ,
Supply Chain ,
Tariffs ,
Trade Relations ,
Trump Administration ,
US Trade Policies ,
USTR
Regulators within the Trump administration have sent a loud message that should concern all multinational automotive companies: laws governing international activities continue to be the subject of intense enforcement...more
5/25/2018
/ Anti-Corruption ,
Automotive Industry ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Extraterritoriality Rules ,
Foreign Corporations ,
Foreign Corrupt Practices Act (FCPA) ,
ITAR ,
Joint Comprehensive Plan of Action (JCPOA) ,
Office of Foreign Assets Control (OFAC) ,
Risk Assessment ,
Risk Management ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Supply Chain ,
Trade Policy ,
Trump Administration
On May 9, 2018, the U.S. Department of Justice (DOJ) announced a policy related to resolutions of criminal and civil corporate enforcement. The new “Policy on Coordination of Corporate Resolution Penalties” was issued by...more
Over the last month, regulators with the Trump administration sent a loud message to companies subject to U.S. jurisdiction: Enforcement of laws governing international activities is alive and well and the laws will continue...more
5/14/2018
/ Anti-Corruption ,
Antiboycott Requirements ,
Bribery ,
CEOs ,
CFIUS ,
Chief Compliance Officers ,
Code of Conduct ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Subsidiaries ,
Internal Audit Functions ,
Internal Controls ,
ITAR ,
Risk Assessment ,
Risk Management ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Trump Administration
If private equity and other investors were not aware of the power of the secretive Committee on Foreign Investment in the United States (CFIUS, or the Committee), its decision to reach out and quash the potential...more
4/18/2018
/ Acquisitions ,
Blocked Mergers ,
Broadcom ,
CFIUS ,
China ,
FINSA ,
FIRRMA ,
Foreign Investment ,
Hostile Takeover ,
Infrastructure ,
Intellectual Property Protection ,
ITAR ,
Mergers ,
National Security ,
Qualcomm ,
Section 301 ,
Tariffs ,
Trade Expansion Act of 1962 ,
Trump Administration
On March 23rd, automotive companies that rely on imported steel and aluminum were confronted with new special tariffs of 25 percent on all imports of steel and tariffs of ten percent on all imports of aluminum, with temporary...more
4/6/2018
/ Automotive Industry ,
Bureau of Industry and Security (BIS) ,
Exclusions ,
Imports ,
Manufacturers ,
National Security ,
Section 232 ,
Steel Industry ,
Tariffs ,
Trade Policy ,
Trump Administration
On March 23, automotive companies that rely on imported steel and aluminum were confronted with new special tariffs of 25 percent on all imports of steel and tariffs of 10 percent on all imports of aluminum, with temporary...more
4/4/2018
/ Automotive Industry ,
Bureau of Industry and Security (BIS) ,
CFIUS ,
Exclusions ,
Imports ,
Manufacturers ,
NAFTA ,
National Security ,
Section 232 ,
Steel Industry ,
Tariffs ,
Trade Policy ,
Trump Administration ,
U.S. Commerce Department ,
WTO
On March 23rd, steel and aluminum users were confronted with new special tariffs of 25 percent on all imports of steel and tariffs of ten percent on all imports of aluminum, with temporary exclusions for Argentina, Australia,...more
3/26/2018
/ Automotive Industry ,
Bureau of Industry and Security (BIS) ,
CFIUS ,
Exclusions ,
Imports ,
Manufacturers ,
NAFTA ,
National Security ,
Section 232 ,
Steel Industry ,
Tariffs ,
Trade Policy ,
Trump Administration ,
U.S. Commerce Department ,
WTO
An open question coming into 2017 was whether the aggressive enforcement posture that had characterized the Obama and Bush administrations would continue under the Trump administration. Any questions were answered with the...more
3/19/2018
/ Anti-Bribery ,
Anti-Corruption ,
Automotive Industry ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement Actions ,
Exports ,
Extraterritoriality Rules ,
Foreign Corrupt Practices Act (FCPA) ,
Joint Comprehensive Plan of Action (JCPOA) ,
Manufacturers ,
Multinationals ,
NAFTA ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Sanctions ,
Tariffs ,
Trade Policy ,
Trump Administration
The international trade front has had some important developments over the last few weeks that will likely have significant impacts on the construction of domestic wind, solar, biomass and other types of renewable energy...more
3/12/2018
/ China ,
Countervailing Duties ,
Department of Defense (DOD) ,
Imports ,
NAFTA ,
National Security ,
Section 232 ,
Steel Industry ,
Tariffs ,
Trade Policy ,
Trump Administration ,
WTO
On March 1st, the automotive sector that consume steel and aluminum were confronted with a potentially large tariff rate increase. Despite intense lobbying by automotive companies, President Trump announced that the U.S....more
Companies that import steel or aluminum saw the detonation of a major international trade bomb on March 1st. President Trump announced that the U.S. Government would invoke the seldom-used section 232 national security...more
3/6/2018
/ Anti-Dumping Duty ,
Automotive Industry ,
CFIUS ,
Countervailing Duties ,
Department of Defense (DOD) ,
Imports ,
NAFTA ,
National Security ,
Section 232 ,
Steel Industry ,
Tariffs ,
Trade Expansion Act of 1962 ,
Trade Policy ,
Trump Administration ,
U.S. Commerce Department ,
WTO
Foley’s Automotive Industry Team has prepared this report examining what the litigation, enforcement and regulatory landscape is likely to look like in 2018 and beyond. Inside, you will learn about:
Managing warranty,...more
1/23/2018
/ Acquisitions ,
Auto Warranties ,
Automotive Industry ,
Connected Cars ,
Contract Terms ,
Cybersecurity ,
Driverless Cars ,
Emerging Technology Companies ,
Employer Liability Issues ,
Equal Pay ,
Merger Controls ,
Mergers ,
Motor Vehicles ,
NHTSA ,
Sexual Harassment ,
Suppliers
Since mid-2000s investigation of Siemens, and the resulting $800 million penalty for violations of the Foreign Corrupt Practices Act (FCPA), the FCPA has been an enforcement priority of the U.S. Government. Although a dip in...more
5/12/2017
/ Anti-Bribery ,
Anti-Corruption ,
Anti-Money Laundering ,
Bribery ,
Compliance ,
Corporate Crimes ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Enforcement Actions ,
Federal Pilot Programs ,
Foreign Corrupt Practices Act (FCPA) ,
ISO ,
ISO 37001 ,
Regulatory Agencies ,
Securities and Exchange Commission (SEC) ,
Trump Administration ,
Whistleblower Protection Policies ,
Yates Memorandum
As shown by the recent announcement by the Trump Administration of a Section 232(b) national security review of steel imports, (a type of investigation that has not been used since 2001), there are a number of ways in which...more
5/5/2017
/ Antitrust Violations ,
Customs and Border Protection ,
False Advertising ,
Imports ,
Intellectual Property Protection ,
International Trade Commission (ITC) ,
Lanham Act ,
National Security ,
Price-Fixing ,
Section 232 ,
Section 337 ,
Steel Industry ,
Tariff Act of 1930 ,
Trade Remedies ,
Trade Secrets ,
Trump Administration ,
Unfair Competition ,
Unfair or Deceptive Trade Practices
Since President Trump’s inauguration, cybersecurity has been in the news almost daily – often on the front page. The U.S. Government is facing a wide array of challenges in cybersecurity, impacting both domestic and foreign...more
5/2/2017
/ Chief Information Security Officer (CISO) ,
Corporate Counsel ,
Critical Infrastructure Sectors ,
Cyber Attacks ,
Cybersecurity ,
Data Privacy ,
EU-US Privacy Shield ,
Federal Trade Commission (FTC) ,
National Security ,
Obama Administration ,
Popular ,
Public Private Partnerships (P3s) ,
Securities and Exchange Commission (SEC) ,
Trump Administration
The election of President Trump contained some positive signs for Private Equity (PE) fund managers. These included potential lower corporate taxes, a ten-percent tax holiday for funds parked overseas, large infrastructure...more
4/15/2017
/ Anti-Money Laundering ,
Antitrust Violations ,
CFIUS ,
Criminal Penalties ,
Cybersecurity ,
Dodd-Frank ,
Economic Sanctions ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Foreign Corrupt Practices Act (FCPA) ,
Fund Managers ,
NAFTA ,
Office of Foreign Assets Control (OFAC) ,
Personal Liability ,
Portfolio Companies ,
Privacy Laws ,
Private Equity ,
Risk Assessment ,
Supply Chain ,
Trump Administration ,
Whistleblowers ,
Yates Memorandum
“Say hi to Wizard Bernie while you’re down there,” he yelled at the falling figure.
There once was a very powerful wizard who, quite late in his life, cast the Spell of the MAGA, which allowed him to become the ruler of...more