On October 28, 2024, the U.S. Department of the Treasury issued a Final Rule establishing the new Outbound Investment Security Program, set to take effect on January 2, 2025. This program, implemented under Executive Order...more
1/2/2025
/ China ,
Critical Infrastructure Sectors ,
Final Rules ,
Foreign Investment ,
Hong Kong ,
Information Technology ,
Intelligence Services ,
Macau ,
National Security ,
Outbound Transactions ,
Semiconductors ,
Surveillance ,
U.S. Treasury
As we wrote previously, the U.S. Department of the Treasury has issued a final rule that takes effect on December 26 that will dramatically raise the Committee on Foreign Investment in the United States (CFIUS) penalties from...more
12/30/2024
/ Artificial Intelligence ,
Bureau of Industry and Security (BIS) ,
Canada ,
CFIUS ,
China ,
Conspiracies ,
Directorate of Defense Trade Controls (DDTC) ,
Economic Sanctions ,
Export Controls ,
False Statements ,
Financial Institutions ,
Foreign Investment ,
International Trade ,
Investment ,
Iran ,
ITAR ,
Mexico ,
Office of Foreign Assets Control (OFAC) ,
Outbound Transactions ,
Russia ,
Tariffs ,
Trump Administration ,
U.S. Treasury
The Commerce Department issued new guidance for financial institutions on best practices for compliance with the Export Administration Regulations (EAR). Available here, the guidance emphasizes enhanced due diligence, ongoing...more
11/15/2024
/ China ,
Department of Defense (DOD) ,
Department of Justice (DOJ) ,
Duties ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Investment ,
Hedge Funds ,
International Trade ,
ITAR ,
NASA ,
North Korea ,
Private Equity ,
Semiconductors ,
Solar Panels ,
U.S. Commerce Department ,
U.S. Treasury ,
US State Departments
The U.S. Commerce Department is soliciting comments on a proposed rule to prohibit importing and selling Vehicle Connectivity System hardware and software designed, developed, manufactured, or supplied by persons owned by,...more
10/11/2024
/ Boycotts ,
CFIUS ,
China ,
Connected Cars ,
Customs and Border Protection ,
Economic Sanctions ,
Export Controls ,
Hong Kong ,
Motor Vehicles ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
PRC ,
Recordkeeping Requirements ,
Red Flags Rule ,
Russia ,
Software ,
Supply Chain ,
Tariffs ,
U.S. Commerce Department ,
US Department of State ,
USTR
On May 10, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an Interim Final Rule (IFR), effective August 8, 2024, that updates the Reporting, Procedures, and Penalties Regulations....more
6/14/2024
/ Antiboycott Requirements ,
Biden Administration ,
Blocked Entities ,
China ,
Customs and Border Protection ,
Department of Justice (DOJ) ,
Export Administration Regulations (EAR) ,
Exports ,
Interim Final Rules (IFR) ,
Israel ,
Office of Foreign Assets Control (OFAC) ,
Reporting Requirements ,
Russia ,
Section 301 ,
Self-Disclosure Requirements ,
Senate Finance Committee ,
Tariffs ,
Turkey ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine ,
USTR ,
Uyghur Forced Labor Prevention Act (UFLPA)
Teradyne, a Massachusetts-based supplier of semiconductor testing equipment, has reportedly pulled $1 billion of manufacturing equipment out of China in 2023 following export controls on advanced computing materials and...more
2/15/2024
/ Bureau of Industry and Security (BIS) ,
China ,
Cloud Computing ,
Economic Sanctions ,
Export Controls ,
IaaS ,
International Trade ,
Know Your Customers ,
Office of Foreign Assets Control (OFAC) ,
Proposed Rules ,
Semiconductors ,
Software ,
U.S. Commerce Department ,
U.S. Treasury ,
Ukraine ,
United Arab Emirates (UAE) ,
US Department of State
On December 11, the Department of Justice, the Department of Commerce’s Bureau of Industry and Security (BIS), the Department of Homeland Security, the Department of State’s Directorate of Defense Trade Controls (DDTC), and...more
1/12/2024
/ Bad Actors ,
Bureau of Industry and Security (BIS) ,
China ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Homeland Security (DHS) ,
Department of Justice (DOJ) ,
Directorate of Defense Trade Controls (DDTC) ,
Economic Sanctions ,
Executive Orders ,
Foreign Financial Institutions (FFI) ,
Foreign Subsidiaries ,
Iran Sanctions ,
Nasdaq ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Supply Chain ,
Tariffs ,
U.S. Commerce Department ,
Virtual Currency