News & Analysis as of

Asset Freeze

Expanded Russia, Iran, and North Korea Sanctions; Top 10 Takeaways (Japanese Translation)

by Latham & Watkins LLP on

President Trump signs the “Countering America’s Adversaries Through Sanctions Act,” which — among other measures — requires Congressional review to ease Russia-related sanctions. On Wednesday, August 2, 2017, President...more

Russia Sanctions - EU Expands Sanctions Following Alleged Diversion of Siemens Turbines

On August 4, 2017, the Council of the European Union (the “Council”) made six new designations to the list of persons subject to restrictive measures in respect of actions undermining or threatening the territorial integrity,...more

OFAC Targets Alleged Mexican Drug Boss and “His Vast Network,” Including International Soccer Superstar

by Ballard Spahr LLP on

Describing him as a “longtime Mexican Drug Kingpin,” the Office of Foreign Assets Control (OFAC) of the U.S. Department of Treasury has designated Raul Flores Hernandez and the “Flores Drug Trafficking Organization,” or ...more

United States Imposes Sanctions on Venezuela’s President and 13 Current and Former Government Officials

On July 31, 2017, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) announced the addition of Venezuelan President Nicolas Maduro to its list of Specially Designated Nationals and Blocked Persons...more

FTC Obtains Temporary Restraining Order Freezing Assets of Debt Collection Operation

by Goodwin on

?On July 10, 2017, the U.S. District Court for the Middle District of Florida entered a temporary restraining? order (“TRO”) halting operations and freezing the assets of a debt collection operation, at the request of the...more

Ahead of Maduro Power Play, Trump Administration Sanctions Venezuelan Officials

by Hogan Lovells on

Ahead of a Constituent Assembly that could re-write the Venezuelan Constitution and dissolve state institutions, the U.S. Treasury Department’s Office of Foreign Assets Control has designated 13 current and former Venezuelan...more

SEC and U.S. Attorney’s Office Bring Action Against Promoter of Bitcoin Store, Inc.

by Perkins Coie on

On June 30, 2017, the SEC and the U.S. Attorney brought parallel civil and criminal fraud charges against Renwick Haddow, the owner of an unregistered broker-dealer entity named InCrowd Equity Inc., and two corporate entities...more

NC AG Obtains Judgment Against Auto Title Lender For Illegal Loans

by Goodwin on

?On May 8, 2017, the North Carolina Attorney General (“NC AG”) announced that it had obtained a final judgment against an auto title lender and two of its employees in North Carolina State Court. The NC AG alleged that the...more

"The Risks Associated With Worldwide Freezing Orders"

A worldwide freezing order is an injunction granted by the English courts to restrain individuals or businesses from disposing of or dealing with assets on a worldwide basis. The order can be sought before, or...more

Pastor Fraud, Say It Isn’t So

by Fox Rothschild LLP on

The SEC recently announced fraud charges, and sought an emergency asset freeze against a pastor who was accused of exploiting church members, retirees, and laid-off autoworkers. Apparently, he mislead these people by...more

EU prolongs sanctions against Russia

by DLA Piper on

On 13 March 2017, the Council of the European Union (EU) adopted Council Implementing Regulation (EU) 2017/437 and Council Decision 2017/445/CFSP extending the validity of sanctions (Restrictive Measures), including the asset...more

The Policing and Crime Act 2017: Changes to the UK Financial Sanctions Regime

The policing and crime bill received royal assent on 31 January 2017. The new Policing and Crime Act 2017 (the Act) introduces changes to a wide cross-section of the criminal justice system, including policing powers and...more

Dealing With Judgment Enforcement in Hong Kong? Two Key Misconceptions to Dispel

by Kobre & Kim on

Due to its proximity and relationship with the People’s Republic of China, Hong Kong has, at times, suffered from the misconception that it is a difficult jurisdiction within which to freeze assets and enforce judgments or...more

Tactics For Managing Marital Finances

by McManis Faulkner on

During a dissolution of marriage, financial management is essential to avoiding court imposed sanctions. Parties to a dissolution are required to preserve assets until the court has determined respective interests. At times...more

FTC Enters Into Landmark Settlement With Network Marketing Company; Vemma Lives To Play Another Day

by Buchalter on

The sixteen month long lawsuit between the Federal Trade Commission and Vemma Nutrition Company has come to a negotiated resolution under terms which will allow Vemma to continue operating its business under restrictions...more

On the Eve of a New Administration, Sanctions on North Korea Tighten

On November 30, 2016, the United Nations Security Council (UNSC) passed a unanimous resolution strengthening sanctions against North Korea. The Resolution comes in response to the conduct of the latest round of nuclear tests...more

European Regulation on the freezing of bank accounts – are you ready?

by Allen & Overy LLP on

From 18 January 2017, claimants will be able to apply for a European Account Preservation Order (EAPO), a new, and potentially potent, weapon in their litigation armoury pursuant to the new European EAPO Regulation...more

First Enforcement of a QIC Judgment in the State of Qatar

by White & Case LLP on

In a landmark case (Protech) last week, a judgment of the Qatar International Court ("QIC") has been successfully enforced by the courts of the State of Qatar....more

Follow the money - the Criminal Finances Bill

by White & Case LLP on

The Criminal Finances Bill sets out measures to combat money laundering and tax evasion that will also affect corporate compliance requirements, particularly in the finance and professional services sectors....more

Sanctions Roundup: Third Quarter 2016 and Executive Order on Burmese Sanctions

by Shearman & Sterling LLP on

OFAC, acting under the direction of President Obama’s Executive Orders, has lifted the economic and financial sanctions against Burma and Côte D’Ivoire. The revisions open these countries, and their financial markets, to...more

Gatekeepers For Preventing Fraud: Educated Investors

by Dorsey & Whitney LLP on

The halting of another offering fraud on Friday by the SEC has, unfortunately, become routine. Offering frauds in which promoters take the hard earned dollars of investors and give them rosy dreams and worthless pieces of...more

UK Financial Regulatory Developments - July 2016 #3

by Dentons on

CPS pursuing assets in land banking fraud case - Four directors, two of whom had already been disqualified as directors by the Financial Services Authority (now FCA), have been convicted of conspiracy to defraud,...more

Notification Injunction to Protect Against Dissipation of Assets

by Morgan Lewis on

A possible alternative to the freezing injunction. A judgment has recently provided helpful guidance on a creative form of injunction. The “notification order” compels a defendant to give notice to the claimant before...more

SEC: Online Dating Site Leads to Engagement, Investments, Fraud

by Dorsey & Whitney LLP on

Online dating services are popular and continue to proliferate. A quick Google search yields lists of numerous sites. Typically they promise more matches and more marriages quickly — and with little effort. The sites do not...more

Court Discusses Slayer Rule in Texas And Affirms Judgment For Bank That Froze Account

by Winstead PC on

Preface to Case: The Texas Constitution states that “[n]o conviction shall work corruption of blood, or forfeiture of estate.” Tex. Const. Art. I § 21 (emphasis added). The Texas Estates Code also states as much. Tex. Est....more

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