Foreign Affiliates

News & Analysis as of

May 29th Filing Requirement for U.S. Companies with Foreign Affiliates

U.S. Companies with foreign subsidiaries and other affiliates are required to report to the U.S. Department of Commerce Bureau of Economic Analysis (BEA) by May 29 or June 30, 2015, depending on the number of foreign...more

Attention Those With Foreign Affiliates: The Form BE-10 Deadline Is Coming Up

Every five years, the Bureau of Economic Analysis conducts the Benchmark Survey of U.S. Direct Investment Abroad. This mandatory survey collects financial and operational data on U.S. parent companies and their foreign...more

China’s Tax Authority Issues New Circular to Regulate Payment to Overseas Affiliates

On July 29, 2014, the State Administration of Taxation (SAT) of the People’s Republic of China (PRC or China) released The Notice Regarding the Launch of Tax Anti-Avoidance Investigations on Remittance of Substantial Amounts...more

Be Prepared for the BEA’s Increased Reporting Requirements and Upcoming Deadlines

Private equity firms are subject to new mandatory BEA reporting requirements on US direct investment abroad and foreign direct investment in the US. The Bureau of Economic Analysis (BEA) of the US Department of...more

Alert: Deadlines Approaching for Mandatory Reporting Requirement Regarding US Direct Investment Abroad

Every five years, the US Commerce Department's Bureau of Economic Analysis ("BEA") conducts a "Benchmark Survey" of US direct investment abroad, from which BEA compiles the US economic accounts and analyzes the activities of...more

Upcoming Deadline for BEA Foreign Affiliate Reporting on BE-10

The U.S. Department of Commerce, through the Bureau of Economic Analysis (the “BEA”), requires reporting on Form BE-10 (a “BE-10 Filing”) from any U.S. person (including entities or individuals) that had a “Foreign Affiliate”...more

Bureau of Economic Analysis Mandatory 2014 BE-10 Survey Reporting Requirement Deadline Approaches

The Bureau of Economic Analysis of the U.S. Department of Commerce requires all U.S. persons that own or control more than 10 percent of the voting securities (a “Direct Investment”) of a “foreign” business enterprise to...more

Commerce Department Survey of U.S. Direct Investment Abroad Due as Soon as May 29, 2015

U.S. companies that owned 10% or more of the voting securities of a foreign business enterprise at any time during the U.S. company’s 2014 fiscal year must submit a report to the U.S. Commerce Department’s Bureau of Economic...more

U.S. Companies with Foreign Affiliates Face Looming Reporting Deadline

U.S. companies with material ownership interests in foreign affiliates (including their own subsidiaries) are facing an upcoming May 29, 2015 deadline to file a cumbersome survey with the U.S. Department of Commerce...more

BEA Reporting Requirements for US Direct Investment Abroad and New Foreign Direct Investment in the United States

The US Department of Commerce’s Bureau of Economic Analysis (BEA) has announced changes to the reporting requirements for the 2014 BE-10 Benchmark Survey of US Direct Investment Abroad and the BE-13 Survey of New Foreign...more

Sharing Sensitive Technologies Between International Affiliates

In the normal course of operations between U.S. and foreign affiliates, inter-company communications and data conveyances are frequent and occur both intentionally and inadvertently. The U.S.-foreign affiliation can be in the...more

SEC Announces Settlement With “Big Four” China Accounting Firms Over Production of Documents Located in China

Today, the Securities and Exchange Commission (“SEC” or “Commission”) announced the terms of a settlement with four of the Respondents in In the Matter of BDO China Dhaua CPA Co., Ltd. The four Respondents are the China...more

Follow up to Beyond Borders: The Reach of Motorola Mobility LLC v. AU Optronics Corp.

In October, we wrote about the Seventh Circuit’s reconsideration of Motorola Mobility LLC v. AU Optronics Corp., 746 F.3d 842 (7th Cir. 2014) and the reach of the Sherman Act and the Foreign Trade Antitrust Improvements Act...more

Antitrust and Competition Newsletter - December 2014 (Global)

For this month’s Top Stories, we are republishing two very recent Orrick Client Alerts that address an important U.S. appellate decision regarding the extraterritorial application of U.S. antitrust laws and the first U.S....more

Supreme Court to Clarify the Liability of Canadian Corporations for Acts of their Foreign Affiliates

The Supreme Court of Canada today heard argument in a case that will clarify whether a judgment obtained in a foreign country against a foreign corporate entity can be enforced in Canada against a Canadian affiliate of that...more

Seventh Circuit Decision in Motorola Mobility Holds That the FTAIA Bars a U.S. Parent's Damages Claims Based on Its Overseas...

The Foreign Trade Antitrust Improvements Act, 15 U.S.C. § 6a (FTAIA), enacted in 1982, has provided ambiguous direction to courts and practitioners regarding the applicability of U.S. antitrust laws to conduct occurring...more

Delaware Chancery Clarifies Discovery Obligations of Domestic Affiliate of Foreign Company

The Delaware Court of Chancery recently held that, for purposes of responding to a non-party subpoena, documents held by the foreign affiliate of a US corporation were not within the US corporation’s “possession, custody, or...more

Broker-Dealer Beat - October 2014: Supervising Registered Employees of Foreign Affiliates

Supervising Registered Employees of Foreign Affiliates - NASD Rules 1021(a) and 1031(a) permit a FINRA member to register or maintain the registration as principal or representative of an individual who is engaged in...more

2014-15 Compliance Developments & Calendar for Private Fund Advisers

Introduction - Registered investment advisers are required to review their policies and procedures on at least an annual basis. As aid to the required review, below is a summary of material developments during the past...more

US Export Laws Can Apply to Foreign Affiliates

Watch out! Recent enforcement actions illustrate that the US export laws apply to foreign companies too (including your foreign subsidiary or parent). The US Bureau of Industry and Security (“BIS”) recently announced a...more

Fake Affiliate Registrations Can Trigger RICO Claims

The Racketeering Influenced Corrupt Organizations Act (RICO) (18 U.S.C. § 1962) is a federal civil and criminal statute originally designed to thwart organized crime. It has been previously used to prosecute, among others,...more

Secondment Guessing?

Often, it makes practical sense to send an experienced worker from his/her home country to another country rather than engage an independent contractor or hire a new employee in that destination country. This is precisely...more

U.S. Imposes Further Economic Sanctions on Russian Officials and Entities in Connection with the Crisis in Crimea

On April 28, 2014, the Office of Foreign Assets Control (OFAC) imposed a new round of Ukraine-related sanctions on more than two dozen Russian companies and government officials. The latest sanctions, supplementing previous...more

Misconduct Not Grounds to Terminate Chapter 15 Recognition

A recent ruling from the U.S. Bankruptcy Court for the Southern District of New York illustrates the limited, specific grounds for changing or terminating chapter 15 recognition. The ruling demonstrates that recognition may...more

U.S. Administrative Law Judge Suspends Chinese Affiliates of “Big Four” Accounting Firms

In a surprising turn in the long-running and widely reported dispute between the Securities and Exchange Commission (“SEC”) and the Chinese affiliates of the “Big Four” accounting firms, on January 22, 2014, a U.S....more

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