President Biden issued a long-awaited executive order, “Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern” (the Executive Order or E.O.), on August 9, 2023,...more
8/17/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Biden Administration ,
China ,
Compliance ,
Corporate Governance ,
Covered Person ,
Exceptions ,
Executive Orders ,
Foreign Direct Investment ,
Investment ,
Investors ,
National Security ,
Popular ,
Technology Sector ,
U.S. Treasury ,
White Collar Crimes
The Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce is the government agency that compiles statistics about the U.S. economy, including the U.S. gross domestic product (GDP). BEA also compiles statistics...more
5/30/2023
/ BEA ,
Bureau of Economic Analysis ,
Filing Deadlines ,
Financial Reporting ,
Foreign Direct Investment ,
Foreign Investment ,
Form BE-12 ,
Reporting Requirements ,
Required Forms ,
Surveys ,
U.S. Commerce Department
Deputy Attorney General (DAG) Lisa Monaco once again delivered groundbreaking remarks at the American Bar Association (ABA) National Institute on White Collar Crime (ABA White Collar Conference) on March 2, 2023, this time...more
"As I told Congress in July, my north star at BIS is to ensure that we are appropriately doing everything in our power to protect our national security and prevent sensitive technologies with military applications from being...more
11/9/2022
/ Bureau of Industry and Security (BIS) ,
China ,
ECCNs ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Policy ,
Interim Final Rules (IFR) ,
Licenses ,
National Security ,
Popular ,
Semiconductors ,
Supply Chain ,
Technology Sector
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), on August 8, 2022, sanctioned virtual currency mixer Tornado Cash. OFAC alleged that it had been “used to launder more than $7 billion worth of...more
As Russia’s invasion of Ukraine persists, with no end currently in sight, the United States continues to issue increasingly punishing economic sanctions and export controls targeting Russia, most recently aiming at the...more
5/17/2022
/ Bureau of Industry and Security (BIS) ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Entities ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Professional Services Companies ,
Russia ,
Ukraine
Russia’s invasion into Ukraine in February 2022 has prompted the United States and its allies, including the United Kingdom, the European Union, and others, to issue substantial international trade restrictions such as...more
4/21/2022
/ Banks ,
Belarus Sanctions ,
Economic Sanctions ,
EU ,
Export Controls ,
Financial Transactions ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Trade Relations ,
Trade Restrictions ,
UK ,
Ukraine
Following Russia’s recognition of breakaway regions in Ukraine and full-scale invasion of the country, authorities in the United States, United Kingdom, European Union, and across the globe imposed a sweeping array of trade...more
3/22/2022
/ Anti-Money Laundering ,
Anti-Terrorism Financing ,
Bank Secrecy Act ,
Belarus ,
Bureau of Industry and Security (BIS) ,
Convertible Virtual Currencies (CVCs) ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Economic Sanctions ,
EU ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Financial Institutions ,
FinCEN ,
Imports ,
Office of Foreign Assets Control (OFAC) ,
Patriot Act ,
Russia ,
SDN List ,
SWIFT ,
U.S. Treasury ,
UK ,
Ukraine
On February 21, 2022, Russian President Vladimir Putin unilaterally recognized the Luhansk and Donetsk regions in Eastern Ukraine (Covered Regions) as independent states. Thereafter, Mr. Putin authorized a full-scale invasion...more
3/3/2022
/ Banking Sector ,
Bureau of Industry and Security (BIS) ,
CAPTA List ,
Economic Sanctions ,
Export Controls ,
Exports ,
Financial Institutions ,
Financial Transactions ,
FinTech ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
Sovereign Debt ,
SWIFT ,
Ukraine
On October 15, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released guidance on sanctions compliance for the digital currency industry, the agency’s most detailed guidance to date on...more
10/20/2021
/ Compliance ,
Corporate Counsel ,
Cryptocurrency ,
Digital Currency ,
Economic Sanctions ,
Financial Services Industry ,
New Guidance ,
Office of Foreign Assets Control (OFAC) ,
Ransomware ,
Regulatory Oversight ,
Risk Assessment ,
SDN List ,
Strict Liability ,
U.S. Treasury ,
Virtual Currency
On October 6, 2021, the U.S. Department of Justice (DOJ) announced an initiative to pursue civil False Claims Act (FCA) enforcement actions against government contractors that knowingly fail to follow required cybersecurity...more
10/12/2021
/ Biden Administration ,
Cybersecurity ,
Cybersecurity Maturity Model Certification (CMMC) ,
Data Protection ,
Department of Justice (DOJ) ,
DFARS ,
Enforcement Actions ,
Executive Orders ,
False Claims Act (FCA) ,
Federal Acquisition Regulations (FAR) ,
Federal Contractors ,
Fraud ,
Policies and Procedures ,
Regulatory Oversight
Agency’s Focus on Cryptocurrency and Blockchain Continues -
On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released an updated advisory to “highlight the sanctions...more
10/5/2021
/ Crypto Exchanges ,
Currency Exchange ,
Cyber Attacks ,
Cybersecurity ,
Economic Sanctions ,
Enforcement Actions ,
Guidance Update ,
Homeland Security Cybersecurity & Infrastructure Security Agency (CISA) ,
Office of Foreign Assets Control (OFAC) ,
Ransomware ,
U.S. Treasury ,
Virtual Currency
The U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) has taken three recent notable actions. Specifically, OFCCP (1) will require a contractor to submit a verification of an affirmative action...more
9/9/2021
/ Affirmative Action ,
Biden Administration ,
Compliance ,
Construction Industry ,
Contractor Audits ,
Department of Labor (DOL) ,
EEO-1 ,
Federal Contractors ,
GAO ,
OFCCP ,
OIRA ,
OMB ,
Subcontractors ,
Workers’ Compensation
As the U.S. Department of Defense (DoD) seeks to increase funding for artificial intelligence (AI) technologies for defense and national security purposes, a new policy memorandum directs the DoD to take steps to ensure that...more
The U.S. Department of Justice (DOJ) recovered more than $2.2 billion in settlements and judgments from civil cases under the False Claims Act (FCA) in the fiscal year ending September 30, 2020. This is a drop of more than...more
1/20/2021
/ Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Fraud ,
Healthcare ,
Medical Devices ,
Qui Tam ,
Recovery Audit ,
Settlement ,
Whistleblowers
The U.S. Department of Defense (DoD) has issued a long-awaited interim rule to safeguard unclassified information in the possession of defense contractors by making periodic assessments of a company’s cybersecurity compliance...more
10/5/2020
/ Compliance ,
Controlled Defense Information (CDI) ,
Controlled Unclassified Information (CUI) ,
Cybersecurity ,
Cybersecurity Maturity Model Certification (CMMC) ,
Defense Sector ,
Department of Defense (DOD) ,
Federal Contractors ,
Federal Register ,
Interim Rule ,
Model Contract Clauses ,
NIST ,
Third-Party ,
Verification Requirements
The U.S. Department of Commerce, Bureau of Industry and Security (BIS) on April 28, 2020, published two final rules and a proposed rule that substantially tighten the controls in the Export Administration Regulations (EAR)....more
5/1/2020
/ Bureau of Industry and Security (BIS) ,
ECCNs ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Final Rules ,
General Licenses ,
Licensing Rules ,
Military End Use ,
National Security ,
U.S. Commerce Department
The Office of Management and Budget (OMB) and several federal agencies have issued guidance implementing a provision in the CARES Act that allows government contractors to be reimbursed for paid leave to employees and...more
Businesses that receive government funding under the nearly $2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) should be mindful of the heightened risks of government investigations of fraud, waste,...more
A key feature of the nearly $2 trillion economic stimulus bill signed into law on March 27, 2020, is the creation of a $350 billion “Paycheck Protection Program” (PPP) to authorize loans to businesses affected by the COVID-19...more
4/9/2020
/ Affiliated-Business Arrangements ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
NAICS ,
Office of Hearings and Appeals (OHA) ,
Paycheck Protection Program (PPP) ,
Private Equity Funds ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief ,
Venture Capital
The Committee on Foreign Investment in the United States (CFIUS) published two final rules on January 17, 2019, to implement the Foreign Investment Risk Review Modernization Act (FIRRMA) enacted in August 2018. The first...more
2/13/2020
/ CFIUS ,
Code of Federal Regulations (CFR) ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Emerging Technologies ,
Emerging Technology Companies ,
Export Controls ,
Federal Pilot Programs ,
Final Rules ,
FIRRMA ,
FOCI ,
Foreign Investment ,
NAICS ,
National Security ,
New Rules ,
Real Estate Transactions
The U.S. Department of Defense’s (DoD) new cybersecurity verification regime is moving into a new phase, with major implications for contractors.
On January 31, 2020, DoD released version 1.0 of its Cybersecurity Maturity...more
The U.S. Department of Defense (DOD) is forging ahead in its plan to adopt a new framework for cybersecurity, with significant ramifications for all defense contractors, including subcontractors.
On November 8, 2019, DOD...more
In its recent decision in Food Marketing Institute v. Argus Leader Media d/b/a Argus Leader, No. 18-481, the U.S. Supreme Court rejected a decades-old legal standard for companies that wish to shield their business...more
7/24/2019
/ Appeals ,
Confidential Information ,
Congressional Intent ,
Exemptions ,
FOIA ,
Food Marketing Institute v Argus Leader Media ,
Motion to Compel ,
Private Commercial or Financial Information ,
Protected Disclosures ,
Reversal ,
SCOTUS ,
SNAP Program ,
Statutory Interpretation ,
Substantial-Competitive-Harm Test ,
Trade Secrets ,
USDA
Whistleblowers bringing qui tam suits under the False Claims Act have up to ten years to file suit against defendants in cases in which the government declines to intervene, the U.S. Supreme Court has held, rejecting a...more
5/20/2019
/ Appeals ,
Cochise Consultancy Inc v United States ex rel Hunt ,
False Claims Act (FCA) ,
First-to-File ,
Government Officials ,
Intervenors ,
Oral Argument ,
Qui Tam ,
Relators ,
SCOTUS ,
Split of Authority ,
Statute of Limitations