On August 28, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued its final rule requiring certain investment advisers to implement anti-money laundering (“AML”) compliance...more
9/10/2024
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Exempt Reporting Advisers (ERAs) ,
Final Rules ,
FinCEN ,
Foreign Investment ,
Investment Adviser ,
Investment Management ,
Popular ,
Registered Investment Advisors ,
Reporting Requirements ,
Suspicious Activity Reports (SARs) ,
U.S. Treasury
This is the tenth in our 2024 Year in Preview series examining important trends in white collar law and investigations in the coming year. Our previous post, "Health Care Fraud Enforcement in 2024," can be found here....more
4/18/2024
/ Bureau of Industry and Security (BIS) ,
Compliance ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
International Trade ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
US Trade Policies ,
White Collar Crimes
On February 23, 2024, the Biden administration announced more than 500 sanctions on individuals and entities inside the Russian Federation and entities outside of Russia determined to be supporting Russia’s war effort....more
This is the fourth in our 2024 Year in Preview series examining important trends in white collar law and investigations in the coming year. We will be posting further installments in the series throughout the next several...more
2/27/2024
/ Board of Directors ,
Corporate Counsel ,
Corporate Governance ,
Cybersecurity ,
Disclosure Requirements ,
Enforcement Actions ,
Final Rules ,
Insider Trading ,
Popular ,
Publicly-Traded Companies ,
Recordkeeping Requirements ,
Regulatory Agenda ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Shareholders ,
Special Purpose Acquisition Companies (SPACs) ,
White Collar Crimes
On September 27, 2023, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued a Notice of Proposed Rulemaking (“NPRM”) to extend the deadline — from 30 days to 90 days — for domestic and foreign...more
On August 9, 2023, President Biden issued an Executive Order (E.O.) addressing certain outbound investments by U.S. persons in certain sensitive or advanced technologies or products involving certain “countries of concern.”...more
8/11/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Artificial Intelligence ,
Biden Administration ,
CFIUS ,
China ,
Cybersecurity ,
Executive Orders ,
Foreign Direct Investment ,
Foreign Investment ,
National Security ,
NDAA ,
Popular ,
Semiconductors ,
Supply Chain ,
Technology Sector ,
U.S. Commerce Department ,
U.S. Treasury
On July 26, 2023, the U.S. Department of Justice’s (“DOJ”) National Security Division (“NSD”), the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”), and the U.S. Department of the Treasury’s Office of...more
8/3/2023
/ Bureau of Industry and Security (BIS) ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Financial Crimes ,
FinCEN ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Self-Disclosure Requirements ,
U.S. Commerce Department ,
U.S. Treasury ,
Voluntary Disclosure
CFIUS reviewed a record number of transactions in 2021 according to its most recent annual report – and shows no signs of slowing down.
High technology (including quantum computing), life sciences, and green energy...more
2/9/2023
/ Aerospace ,
Artificial Intelligence ,
Biden Administration ,
Biotechnology ,
CFIUS ,
China ,
Clean Energy ,
Cybersecurity ,
Data Processors ,
Defense Production Act ,
Enforcement Actions ,
Executive Orders ,
FIRRMA ,
Foreign Investment ,
Infrastructure ,
Insurance Industry ,
International Trade ,
Life Sciences ,
National Security ,
OSTP ,
Penalties ,
Popular ,
Semiconductors ,
Supply Chain ,
Technology Sector ,
Telecommunications
I. Additional Export Controls on Russia and Belarus -
(a) Export restrictions on a wide range of EAR99 items -
Effective September 15, 2022, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS)...more
9/27/2022
/ Belarus ,
Expiration Date ,
Export Controls ,
Extensions ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Oil Prices ,
Popular ,
Russia ,
SDN List ,
U.S. Commerce Department
This is the fifth post in this year’s series examining important trends in white collar law and investigations. Our previous post discussed trends in State AG enforcement. Up next: SEC Enforcement in 2022: A Look Ahead. ...more
2/25/2022
/ Afghanistan ,
Belarus ,
Biden Administration ,
Bureau of Industry and Security (BIS) ,
Burma ,
Cambodia ,
CFIUS ,
China ,
Cuba ,
Economic Sanctions ,
Enforcement ,
Ethiopia ,
Executive Orders ,
Export Administration Regulations (EAR) ,
Export Controls ,
Human Rights ,
International Criminal Court ,
Iran Sanctions ,
ITAR ,
Joint Comprehensive Plan of Action (JCPOA) ,
Myanmar ,
Nicaragua ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Sudan ,
U.S. Treasury ,
Uyghur Forced Labor Prevention Act (UFLPA) ,
Venezuela ,
Virtual Currency ,
Withhold Release Orders (WROs)
On November 3, 2021, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) added two Israeli entities to the Entity List due to malicious cyber activities. In its press release, BIS stated that the...more
11/15/2021
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
Cryptocurrency ,
Cyber Crimes ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Interim Final Rules (IFR) ,
Israel ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Sanctions ,
SDN List
Ransomware payments continue to be a focus of the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”). As previously reported by Foley Hoag, on October 1, 2020, OFAC released an advisory regarding potential...more
10/1/2021
/ Critical Infrastructure Sectors ,
Cyber Attacks ,
Cybersecurity ,
Enforcement Actions ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Proposed Legislation ,
Ransomware ,
Regulatory Oversight ,
Sanctions ,
SDN List ,
U.S. Treasury
On October 1, 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released an advisory regarding potential sanctions risks related to facilitating ransomware payments...
OFAC is the federal...more
10/16/2020
/ Cyber Attacks ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
FCPA Guidance ,
Hackers ,
International Emergency Economic Powers Act (IEEPA) ,
Malware ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Ransomware ,
Risk Factors ,
Sanctions ,
SDN List ,
TWEA