On July 9, 2021, President Biden signed the Executive Order on Promoting Competition in the American Economy. The Order, breathtaking in scope, asserts as a key goal the desire to improve the lives of consumers through...more
7/21/2021
/ Anti-Competitive ,
Biden Administration ,
Competition ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Agriculture ,
Department of Health and Human Services (HHS) ,
Dodd-Frank ,
Employer Liability Issues ,
Employment Contract ,
Executive Orders ,
FCC ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Insurance Industry ,
Non-Compete Agreements ,
Popular ,
Regulatory Agencies ,
Restrictive Covenants ,
Technology Sector ,
Unfair Labor Practices
In 2019, the US imposed sanctions against China in reaction to “serious human rights abuse against ethnic minorities in Xinjiang...” The sanctions followed reports of mass arbitrary detention and severe physical abuse, among...more
6/16/2021
/ Biden Administration ,
China ,
Economic Sanctions ,
Exports ,
Forced Labor ,
Human Rights ,
Office of Foreign Assets Control (OFAC) ,
Rare Earth Metals ,
SDN List ,
Slavery ,
Solar Panels ,
Supply Chain
On June 3, 2021, in one of his first major China-related actions, President Biden issued an Executive Order that amends, but keeps intact the core elements of, previous orders issued by President Trump prohibiting US Persons...more
6/7/2021
/ Biden Administration ,
China ,
Department of Defense (DOD) ,
Exemptions ,
Foreign Investment ,
Human Rights ,
Military End Use ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions ,
SDN List ,
Technology Sector ,
Telecommunications ,
U.S. Treasury
While the Biden Administration desires a “stable and predictable” relationship with Russia, it has now made it clear that it will take “actions to impose costs on Russia for actions by its government and intelligence services...more
4/22/2021
/ Biden Administration ,
Blocked Entities ,
Blocked Person ,
Blocking Sanctions ,
Crimea ,
Economic Sanctions ,
Executive Orders ,
Foreign Policy ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia
On March 25, 2021, in its effort to intensify international pressure on Min Aung Hlaing’s military government, the US placed sanctions, pursuant to Executive Order 14014, on two holding companies, Myanma Economic Holdings...more
In the latest of a series of measures targeting China before this week’s transition of administrations, on January 14, 2021, the Trump Administration added China National Offshore Oil Corporation Ltd. (CNOOC) to the US...more
On November 12, 2020, President Trump issued an executive order (Order) that effectively prohibits US persons from transacting in publicly traded securities of Chinese firms determined by the US government to be owned or...more
On June 2, 2020, the Office of the United States Trade Representative (USTR) announced that it is beginning investigations under Section 301 of the Trade Act of 1974 (Trade Act) into digital services taxes (DSTs) that have...more
On May 1, 2020, President Trump issued an “Executive Order on Securing the United States Bulk-Power System,” aimed at preventing cyberattacks to and interference by foreign adversaries with the US power grid. Specifically,...more
In response to shortages of Personal Protective Equipment (PPE) critical to limiting the spread of and mitigating the impact of COVID-19, the United States has recently issued a series of rules, memoranda, and other guidance...more
4/22/2020
/ Coronavirus/COVID-19 ,
Customs and Border Protection ,
Enforcement Guidance ,
Exports ,
FEMA ,
Food and Drug Administration (FDA) ,
Imports ,
Medical Equipment ,
Personal Protective Equipment ,
Tariffs ,
USTR
This briefing is intended to provide an update on two recent developments under the US sanctions regime.
..The first one is the introduction of US sanctions related to the Nord Stream 2 pipeline project, which threaten to...more
1/30/2020
/ Administrative Procedure Act ,
Blocking Sanctions ,
Civil Monetary Penalty ,
Construction Industry ,
Contract Formation ,
Defense Sector ,
Economic Sanctions ,
Energy Projects ,
Energy Sector ,
Enforcement Actions ,
EU ,
Exxon Mobil ,
Fair Notice ,
Federal Budget ,
Foreign Policy ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Pipelines ,
Prohibited Transactions ,
Russia ,
SDN List ,
Summary Judgment ,
Vessels
The extraterritorial reach of statutes seeking to prohibit unscrupulous financial practices has been debated and watched as both entities and individuals seek to determine the scope of the United States’ government’s ability...more
Consistent with the ongoing United States (US) strategy of limiting engagement with China in the high-tech sector (especially telecommunications) on national security grounds, the US Department of Commerce’s Bureau of...more
6/3/2019
/ Bureau of Industry and Security (BIS) ,
China ,
Entity List ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Huawei ,
Licensing Rules ,
National Security ,
Prohibited Transactions ,
Supply Chain ,
Technology Sector ,
Telecommunications ,
Trump Administration ,
U.S. Commerce Department
On May 2, 2019, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued guidance titled “A Framework for OFAC Compliance Commitments” (Guidance), providing direction regarding what OFAC considers to...more
5/15/2019
/ Anti-Money Laundering ,
Audits ,
Chief Compliance Officers ,
Compliance ,
Corporate Governance ,
Corporate Management ,
Department of Justice (DOJ) ,
Dubai ,
Enforcement ,
Enforcement Actions ,
Enforcement Authority ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Foreign Corrupt Practices Act (FCPA) ,
Guidance Update ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Internal Controls ,
Monetary Authority of Singapore ,
Office of Foreign Assets Control (OFAC) ,
Personal Liability ,
Risk Assessment ,
Securities and Exchange Commission (SEC) ,
Singapore ,
Training ,
U.S. Treasury ,
UK
On Monday, the United States announced that it would not extend the temporary waivers that were granted to eight countries last November allowing them to purchase Iranian oil without threat of sanctions. The temporary waivers...more
4/29/2019
/ Economic Sanctions ,
Energy Sector ,
FinCEN ,
Foreign Financial Institutions (FFI) ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
NDAA ,
Oil & Gas ,
Secondary Sanctions ,
Waivers
On December 19, 2018, the US Department of the Treasury notified Congress of its intention to terminate sanctions imposed on En+ Group plc (En+), as well as its subsidiaries, United Company RUSAL (Rusal) and JSC EuroSibEnergo...more
On November 9, 2018, the US Department of the Treasury and the Internal Revenue Service (IRS) issued proposed regulations addressing statutory changes to the section 401(k) hardship distribution rules, including changes made...more
As of November 5, 2018, US secondary sanctions against Iran are back in force, and more than 700 Iranian individuals and entities have been re-added or newly added to the US Specially Designated Nationals and Blocked Persons...more
Within the omnibus John S. McCain National Defense Authorization Act for Fiscal Year 2019 (2019 NDAA) that the president signed into law on August 13, 2018, is the Foreign Investment Risk Review Modernization Act (FIRRMA),...more
10/16/2018
/ CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Export Controls ,
Filing Requirements ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
National Security ,
NDAA ,
Real Estate Investments
Earlier than expected, the Committee on Foreign Investment in the United States (CFIUS) has announced new interim rules—effective November 10, 2018, pursuant to the recently enacted Foreign Investment Risk Reduction...more
10/16/2018
/ CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Export Controls ,
Federal Pilot Programs ,
Filing Requirements ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
National Security ,
Trump Administration
Within the omnibus John S. McCain National Defense Authorization Act for Fiscal Year 2019 (2019 NDAA) that the President signed into law on August 13, 2018, is the Foreign Investment Risk Review Modernization Act (FIRRMA),...more
8/14/2018
/ CFIUS ,
China ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Emerging Technology Companies ,
Export Controls ,
FIRRMA ,
Foreign Investment ,
National Security ,
NDAA ,
Trump Administration ,
U.S. Commerce Department
On 1 June 2018, the US imposed tariffs on imports of steel and aluminium from the EU, Canada and Mexico. The tariffs are 25% on steel and 10% on aluminium. ...more
6/5/2018
/ Aluminum Sales ,
Canada ,
EU ,
GATT ,
Imports ,
Mexico ,
National Security ,
Steel Industry ,
Tariffs ,
Trade Expansion Act of 1962 ,
Trade Policy ,
WTO
Today President Trump signed a memorandum directing Administration officials to proceed with the imposition of trade restrictions on China and Chinese products in retaliation for China’s unfair intellectual property...more
On March 8, 2018, President Trump signed Presidential Proclamations adjusting imports of steel and aluminum into the US. This action marks the imposition of heavy tariffs on imports of steel and aluminum, in a move that may...more
3/23/2018
/ Aluminum Sales ,
Anti-Dumping Duty ,
China ,
Countervailing Duties ,
EU ,
GATT ,
Imports ,
National Security ,
Section 232 ,
Steel Industry ,
Tariffs ,
Trade Policy ,
Trump Administration ,
U.S. Commerce Department ,
WTO
On January 23, 2018, the White House released its long-awaited decision on safeguard measures to limit imports of solar cells and modules. The President’s decision follows the US International Trade Commission’s (ITC)...more