Sanctions

News & Analysis as of

U.S. Government Resets Cuban Policy and Eases Sanctions Against Cuba

Yesterday, President Obama announced that the United States and Cuba will begin talks to resume full diplomatic relations and partially lift travel and economic sanctions and restrictions, some of which have existed for more...more

President Signs Russia Sanctions Law But Does Not Intend To Impose New Sanctions At This Time

On December 18, 2014, President Obama signed into law the Ukraine Freedom Support Act of 2014 (the “Act”), authorizing sanctions related to Russia’s defense, energy, and financial sectors. The Act is the latest in US...more

One Step Closer to Normalizing Relations with Cuba

Today, in response to Cuba’s release of American prisoner Alan Gross, President Obama announced that his administration will begin taking steps to normalizing relations with Cuba. While the Obama administration can ease the...more

The United States and Cuba to Restore Diplomatic Relations

On December 17, 2014, President Barack Obama announced that the United States will resume diplomatic relations with Cuba after more than 50 years. In addition to relaxing certain economic restrictions, the President announced...more

Cuba Revisited

On December 17 President Obama announced a plan to normalize relations with Cuba and open a US Embassy in Havana. The President also asked Congress to reconsider the trade embargo with Cuba which has been in place since...more

President Obama Announces Sweeping Changes to United States’ Diplomatic Relationship with Cuba

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

U.S. Announces Major Policy Shift on Cuba

On December 17, 2014, President Obama announced the beginning of major reforms regarding the relationship between the United States and Cuba. In a statement made from the White House, President Obama announced that the...more

Obama to Sign Venezuela Sanctions Bill

Last week, the U.S. Congress passed S. 2142 (the “Venezuela Defense of Human Rights and Civil Society Act of 2014”) and presented the legislation to President Obama for signature. White House officials have indicated that...more

U.S. Embargo Against Cuba: Historic Changes Ahead

On December 17, 2014, President Barack Obama announced sweeping changes in the diplomatic and trade relationships between the United States and Cuba. These changes, outlined below, will require time to implement; certain...more

President Obama’s Announcement on U.S.-Cuban Relations Could Create Strategic Opportunities for American Companies

On December 17, 2014, the United States announced its intention to normalize diplomatic relations with Cuba. President Obama stated that, after nearly 54 years of economic and political isolation, his administration will be...more

FINRA Sanctions 10 Banks for Conflicts-Of-Interest Violations

On December 11, FINRA fined 10 financial firms a total of $43.5 million dollars for allegedly violating the industry-regulator’s conflict of interest rules. According to FINRA, in pitch meetings, the firms’ equity research...more

A New U.S. Course for Cuba Relations: What Does It Mean for Business?

President Obama made an unexpected announcement this week signaling a “new course” for Cuba after more than fifty years of comprehensive U.S. sanctions. Reestablishing diplomatic relations is a major change. In terms of...more

New Law Significantly Expands Legal Basis for US Sanctions Against Russia

On 16 December 2014, President Obama announced that he will sign the Ukraine Freedom Support Act of 2014 (hereinafter the “Act”) into law. As discussed in our update dated 12 December 2014, the Act represents a potentially...more

Top 10 Things to Know About President Obama’s Cuba-Related Announcement

While signalling a dramatic shift in the US-Cuba relationship, the President’s authority to lift sanctions is limited in several key respects. On December 17, 2014, President Obama announced that the United States will...more

U.S. Congress Passes Russia Sanctions Legislation

On Saturday, the U.S. Congress passed the Ukraine Freedom Support Act of 2014 (H.R. 5859), which, once signed by the president, will impose or authorize broad sanctions on Russia’s energy and defense sectors and increase...more

Fabricating Evidence and Losing Arbitration

Seagate Tech., LLC v. W. Digital Corp - Addressing an issue of whether an arbitrator inappropriately sanctioned a party that had been found to have fabricated evidence and whether the arbitrator refused to consider...more

Council of EU Presidency Compromise on Regulation on ECB’s Powers to Impose Sanctions

On December 11, the Council of the EU published a note (dated December 10) that amends the ECB’s powers to impose sanctions. The ECB published its recommendation for a Council Regulation in April 2014....more

SEC Sanctions Operator of Unregistered Virtual Currency Exchanges

On December 8, the Securities and Exchange Commission sanctioned a computer programmer for operating two online exchanges that traded securities using virtual currencies without registering them as broker-dealers or stock...more

Creditor's Willful Violation of Automatic Stay Results in Fee Award

In Snowden v. Check Into Cash of Washington Inc. (In re Snowden), 2014 DJDAR 12677, the United States Court of Appeals for the Ninth Circuit decided a bankruptcy case involving the award of attorney fees....more

EU clarifies Russian sanctions

This alert follows our previous alerts on the Russia/Ukraine sanctions. On 5 December 2014, the European Commission published Regulation 1290/2014 (the Amending Regulation) with effect from 6 December 2014. This...more

Hell Hath No Fury Like a Patentee Scorned

In SAP America, Inc. v. Arunacgalam, IPR2014-00413, Paper 23, and IPR2014-00414, Paper 21 (December 5, 2014), the Board sanctioned pro se patent owner for her unauthorized filings in which she makes “bald, unsubstantiated...more

US Clarifies Sanctions Provisions and US Senate Passes a Bill to Codify and Expand Sanctions

As noted in previous updates, the United States and European Union continue to impose sanctions against Ukrainian and Russian individuals and entities as a result of the turmoil in Ukraine. On 11 December 2014, the US Senate...more

Trade & Manufacturing - News of Note - December 2014

White House Announces Action Items To Strengthen U.S. Manufacturing - On October 27, President Obama unveiled new executive actions aimed at strengthening U.S. manufacturing. The actions were announced at a meeting of...more

Recent HHS Settlement Highlights Importance of Updating HIPAA Compliance Programs

On December 8, 2014, the U.S. Department of Health and Human Services' (HHS) Office for Civil Rights (OCR) announced a resolution agreement with Anchorage Community Mental Health Services, Inc. (ACMHS). The agreement, which...more

SEC Sanctions 8 Auditors in “Broken Gate” Enforcement Sweep

The SEC this week issued cease-and-desist orders against eight auditors, fining them $140,000 collectively, for violating auditor independence rules by preparing the very broker-dealer financials they were to audit....more

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