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Economic Sanctions Investment Funds Russia

Troutman Pepper Locke

Major OFAC Penalty for US Venture Capital Fund – Key Takeaways

Troutman Pepper Locke on

On June 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed a civil penalty of approximately $216 million on GVA Capital Ltd., a venture capital firm based in San Francisco, for...more

McDermott Will & Schulte

Navigating EU Sanctions: How Investment Funds and Corporates Can Meet the 'Best Efforts' Standard

With the introduction of the 14th sanctions package, entities established in the European Union are required to ‘undertake their best efforts to ensure’ that non-EU subsidiaries they own or control do not undermine EU...more

Seward & Kissel LLP

Changes Are Coming

Seward & Kissel LLP on

Elections, as they say, have consequences. That bit of political wisdom certainly will be true again this time around—our president-elect has been announcing appointees for cabinet positions that are bound to bring about...more

Akin Gump Strauss Hauer & Feld LLP

Financial Restrictions on Russia Increase with Additional Focus on Sanctions Circumvention

On 23 June 2023, the European Union (EU) adopted a new package of economic sanctions against Russia. In addition to other measures, the 11th sanctions package has specifically widened prior financial restrictions applicable...more

Walkers

Irish Quarterly Legal and Regulatory Report - Asset Management and Investment Funds April - June 2022

Walkers on

On 31 May 2022, the European Union (Undertakings for Collective Investment in Transferable Securities) (Amendment) Regulations 2022 were published in Iris Oifigiúil and will come into operation on 1 January 2023. The...more

Foley Hoag LLP

OFAC Releases Guidance Regarding Prohibition on New Investment in Russia and Provides Further Clarifications Regarding Investments...

Foley Hoag LLP on

I. OFAC Publishes FAQs Addressing Ban on New Investment in Russia On April 6, 2022, President Biden signed Executive Order (“EO”) 14071, which prohibits all “new investment in the Russian Federation by a United States...more

Tarter Krinsky & Drogin LLP

Three Considerations When Seeking Shelter or Betting Big

A perfect storm of inflation, a lagging stock market, and geopolitical uncertainty are increasingly driving investment funds and family offices to seek out alternative and private equity investments as they head into the...more

Patterson Belknap Webb & Tyler LLP

ESG Funds Must Tread Carefully as Russia Sanctions Bite

The full-scale invasion of Ukraine by a revanchist Russia continues to dominate headlines as the war enters its second month. While the sometimes-terrible choices facing those living in the conflict zone are unparalleled,...more

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