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
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)
On February 24, the two-year anniversary of Russia’s invasion of Ukraine, the Biden administration issued hundreds of new Russia-related export controls and sanctions. The Office of Foreign Assets Control (OFAC) and the...more
3/7/2024
/ Arms Export Control Act ,
Bureau of Industry and Security (BIS) ,
CAFC ,
CFIUS ,
Department of Justice (DOJ) ,
Directorate of Defense Trade Controls (DDTC) ,
Economic Sanctions ,
Export Controls ,
False Statements ,
Federal Trade Commission (FTC) ,
Foreign Investment ,
International Trade ,
Iran ,
ITAR ,
Labeling ,
Made in the USA ,
Money Laundering ,
National Security ,
National Security Agency (NSA) ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
Section 301 ,
U.S. Commerce Department ,
US Department of State ,
USTR
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
TRADE TIP OF THE MONTH: New Companies Have More Time To Report Ownership-
The Treasury Department’s Financial Crimes Enforcement Network issued a final rule in late November to delay the deadline for newly created...more
12/11/2023
/ Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Cyber Crimes ,
Department of Justice (DOJ) ,
Directorate of Defense Trade Controls (DDTC) ,
Exports ,
False Claims Act (FCA) ,
Financial Crimes ,
FinCEN ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Ransomware ,
Reporting Requirements ,
U.S. Treasury ,
Virtual Currency
1. OFAC Imposes Sanctions on Russian Elites Who Were Board Members of Alpha Group-
On Aug. 11, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four Russian individuals, Petr...more
9/7/2023
/ Boycotts ,
Build America Investment Initiative ,
Bureau of Industry and Security (BIS) ,
Buy America ,
Department of Justice (DOJ) ,
Employment Discrimination ,
Export Administration Regulations (EAR) ,
Exports ,
Foreign Corporations ,
Internal Revenue Code (IRC) ,
Lawful Permanent Residents ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Ownership Interest ,
Parent Corporation ,
Popular ,
Russia ,
SDN List ,
SpaceX ,
Suppliers ,
Virtual Currency