News & Analysis as of

Office of Foreign Assets Control (OFAC) Appeals

Foley & Lardner LLP

Fourth Circuit Holds No Article III Standing Where No Third-Party Viewed Inaccurate Information

Foley & Lardner LLP on

On September 11, 2024, the Fourth Circuit Court of Appeals held that there is no publication to a third party — and therefore no Article III standing under the Fair Credit Reporting Act (FCRA) — where the recipient of a...more

Oberheiden P.C.

Ten Strategic Considerations for OFAC Appeals

Oberheiden P.C. on

The Office of Foreign Assets Control (OFAC) has oversight of financial transactions involving U.S. and foreign entities. It exercises this authority in several ways, including (i) through the administration of its various...more

Fuerst Ittleman David & Joseph

D.C. Circuit: U.C.C. Article 4A Does Not Govern Judgment Creditors’ Claims to Sanctioned Company’s Funds Held by Intermediary...

On August 16, 2022, the United States Court of Appeals for the D.C. Circuit issued its ruling in Estate of Jeremy Isadore Levine, et al. v. Wells Fargo Bank, N.A., No. 21-7036, –F.4th– (D.C. Circuit August 16, 2022), a case...more

The Volkov Law Group

Appellate Court Upholds OFAC Designation of Oleg Deripaska, a Major Oligarch

The Volkov Law Group on

The Office of Foreign Asset Control’s designation of an entity as a Specially Designated National (SDN) is the “kiss of death.”  Such designation not only has a direct impact on an SDN’s ability to engage in business but has...more

ArentFox Schiff

Class Actions Quarterly Update: Supreme Court - September 2021

ArentFox Schiff on

The latest trends and developments in the class action world. Since our last update was published, the United States Supreme Court has addressed a number of appeals involving class actions. Requirement of Concrete...more

Latham & Watkins LLP

Court of Appeal Excuses Non-Payment Arising From Secondary Sanctions Concerns

Latham & Watkins LLP on

The Court of Appeal decision, which considered standard form wording and the “mandatory” nature of US sanctions laws, upholds a High Court ruling exempting a borrower’s non-payment of interest, albeit on different grounds. ...more

Akin Gump Strauss Hauer & Feld LLP

9th Circuit Holds All Members of a Certified Class Must Have Article III Standing To Recover Monetary Damages

- In a matter of first impression within the 9th Circuit, the court held that each member of a certified class must have Article III standing in order to recover individual monetary damages at trial. - Those class members...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - September 2019

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including a review of the first year of GDPR enforcement, analysis of...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - August 2019

ANTICORRUPTION DEVELOPMENTS - Telecommunications Company Fined $12 Million for FCPA Violations - On August 29, 2019, The Securities and Exchange Commission (SEC) instituted ceaseand-desist proceedings against...more

The Volkov Law Group

OFAC Enforcement: The Epsilon Case and Third Party Risks

The Volkov Law Group on

The Department of Treasury’s Office of Foreign Asset Control (“OFAC”) recently announced the settlement of the Epsilon enforcement action. This case requires a theme song and there is none better than Trucking from Grateful...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - August 2018

ANTICORRUPTION DEVELOPMENTS - $34 Million SEC Settlement for Legg Mason - On August 27, 2018, the Securities and Exchange Commission (SEC) announced that Legg Mason Inc. will pay more than $34 million to settle an...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - August 2017

ANTICORRUPTION DEVELOPMENTS - MTS Receives DOJ and SEC Declination Letters Concluding FCPA Investigations - On August 7, 2017, MTS Systems (MTS), a Minnesota based maker of test systems and industrial position...more

Bass, Berry & Sims PLC

Rare Court Case Sheds Light on U.S. Sanctions Enforcement

Bass, Berry & Sims PLC on

It is rare for companies to go to court to fight penalties imposed by the Office of Foreign Assets Control (OFAC) for violations of U.S. sanctions. It is even more rare for a court to make any sort of finding against the...more

Perkins Coie

Court Opinion on Liability for Re-Exports to Iran Spurs Practical Guidance for U.S. Exporters

Perkins Coie on

A recent federal appeals court decision addresses a familiar issue for many companies: When can a U.S. exporter be liable for a product that is re-exported to a sanctioned country, such as Iran? This update summarizes the...more

Goodwin

Financial Services Weekly News - June 2016 #3

Goodwin on

Regulatory Developments - OFAC Updates Frequently Asked Questions Regarding Lifting Sanctions on Iran - On June 8, the Office of Foreign Assets Control of the U.S. Department of the Treasury (OFAC) updated its...more

Katten Muchin Rosenman LLP

Bridging the Week - August 2015 #5

Charles Schwab Fined US $2 Million by FINRA for Net Capital Deficiencies: Charles Schwab & Co. agreed to pay US $2 million to the Financial Industry Regulatory Authority to resolve allegations that it had net capital...more

Foley Hoag LLP - Trademark, Copyright &...

A Tale Of Trade And Trademarks: General Cigar Co., Inc. v. Empresa Cubana Del Tabaco

The United States has taken several recent steps towards normalizing its ties with Cuba and, just yesterday, the two countries re-opened embassies in each other’s capitals for the first time since 1961. Despite these...more

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