The US Office of Foreign Assets Control (OFAC) issued Syria General License 24 (GL 24) authorizing certain transactions with the new Syrian government and easing some transactions related to energy and personal remittances....more
The US Office of Foreign Assets Control recently amended its insurance-related FAQ and issued two new FAQs. This focus on insurance-related guidance comes at the same time as an enforcement action targeting an insurer that...more
The US government’s multibranch effort to implement a new regulatory regime designed to regulate outbound investments based on national security concerns moved forward with the White House’s August 9, 2023 Executive Order, EO...more
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently issued an “Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments.” This advisory continues prior advisory...more
10/4/2021
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Cybersecurity ,
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Homeland Security Cybersecurity & Infrastructure Security Agency (CISA) ,
International Emergency Economic Powers Act (IEEPA) ,
Office of Foreign Assets Control (OFAC) ,
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Sanctions ,
SDN List
The new executive order continues the policy of prohibiting US persons’ transactions in the publicly traded securities of select Chinese companies, but expands the scope to include both Chinese companies that operate or have...more
6/9/2021
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China ,
Defense Sector ,
Economic Sanctions ,
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Financial Instruments ,
Foreign Policy ,
Human Rights ,
Office of Foreign Assets Control (OFAC) ,
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Securities Transactions ,
Surveillance
Recently proposed regulations could present significant compliance burdens for the banks and money service businesses that engage in cryptocurrency transactions with unhosted wallets or wallets held in jurisdictions specified...more
1/20/2021
/ Anti-Money Laundering ,
BSA/AML ,
Cryptocurrency ,
Financial Crimes ,
Financial Services Industry ,
Financial Transactions ,
FinCEN ,
FinTech ,
Money Services Business ,
Peer-to-Peer ,
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Regulatory Agenda ,
Virtual Currency
The Committee on Foreign Investment in the United States (CFIUS) on September 17 released its long-awaited proposed regulations implementing many aspects of the Foreign Investment Risk Review and Modernization Act of 2018...more
Section 301 provides the president with broad authority to implement new policies and procedures that could impact reviews of Chinese investment in the United States. The president could rely on the International Emergency...more
3/27/2018
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China ,
Foreign Investment ,
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International Emergency Economic Powers Act (IEEPA) ,
Joint Venture ,
Judicial Review ,
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Presidential Memorandum ,
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