The U.S. Department of State published its Section 515.582 List that outlines which goods and services produced by independent Cuban entrepreneurs are eligible for importation into the United States....more
The SEC investigation found that the respondent lacked sufficient internal controls to prevent and detect approximately $230,000 in improper payments made by its China-based offices that falsely recorded the payments in books...more
The U.S. Department of the Treasury and the U.S. Department of Commerce have released new regulations that loosen restrictions on trade and travel with Cuba....more
Due to costly settlements secured by U.S. regulatory agencies, banks, insurers, and corporations are increasingly inserting rigorous OFAC sanctions compliance language into their credit agreements, insurance policies,...more
The executive order bans the export of goods, technology, and services to the Crimea region of Ukraine, but that’s not all it does.
On December 19, 2014, U.S. President Barack Obama issued Executive Order #13685,...more
No changes in connection with the U.S. – Cuba embargo and sanctions will be effective until OFAC and the Commerce Department formally revise their respective regulations and general licenses to implement the President's new...more
The bill, if passed, would impose severe sanctions on “foreign persons” that make significant investments in Russian crude oil projects....more
Due to costly settlements secured by U.S. regulatory agencies, banks, insurers, and corporations are increasingly inserting rigorous OFAC sanctions compliance language into their credit agreements, insurance policies, and...more
OFAC stated that an insurance company and its affiliates violated OFAC regulations by providing insurance support services for policies that were issued to, or provided coverage for, persons designated on the OFAC Specially...more
OFAC expands the scope of its 50% rule.
On August 13, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued “Revised Guidance on Entities Owned by Persons Whose Property and Interests in...more
The sanctions directly affect companies involved in Russia's oil and gas industries by imposing new export license requirements....more
Relief is very limited and alleviates threat of sanctions regarding transactions by non-U.S. or foreign persons.
On January 30, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published...more
Second phase of the Export Control Reform Initiative allows certain U.S. industries to fall into categories that may make them more attractive to foreign buyers.
On January 6, the Obama administration reached another...more
New rules allow some aircraft-related items to fall into categories that may make them more attractive to foreign buyers.
On October 15, the Obama Administration reached an important milestone of the president’s Export...more
Mandatory requirements cover actions of issuers' foreign subsidiaries and affiliates.
On August 10, 2012, section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 (the Act), 112 P.L. 158, added new...more
Grace period through March 8 provided to foreign subsidiaries to wind down Iranian transactions.
On December 26, 2012, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) amended the Iranian...more