LATAM Airlines Agrees to Pay $22 Million to Settle FCPA Cases -
Last month, LATAM Airlines (“LATAM”), based in Santiago, Chile, agreed to pay $22 million to settle parallel civil and criminal proceedings involving...more
10/4/2016
/ Airbus ,
Aviation Industry ,
Boeing ,
Cuba ,
Export Controls ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Narcotics Kingpin Sanctions ,
General Licenses ,
Iran Sanctions ,
Office of Foreign Assets Control (OFAC) ,
SDN List
LATAM Airlines Agrees to Pay $22 Million to Settle FCPA Cases -
Last month, LATAM Airlines (“LATAM”), based in Santiago, Chile, agreed to pay $22 million to settle parallel civil and criminal proceedings involving...more
10/4/2016
/ Airbus ,
Aviation Industry ,
Beneficial Owner ,
Boeing ,
Cuban Assets Control Regulations (CACR) ,
Customer Due Diligence (CDD) ,
Deferred Prosecution Agreements ,
Export Controls ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Narcotics Kingpin Sanctions ,
General Licenses ,
Health Insurance ,
Humana ,
Iran Sanctions ,
Office of Foreign Assets Control (OFAC) ,
SDN List
U.S. lawmakers recently submitted a letter to the Government Accountability Office (GAO) raising concerns about increased Chinese investments in the U.S. film and entertainment industry and questioning whether the Committee...more
On June 3, 2016, the U.S. Department of State, Directorate of Defense Trade Controls (DDTC) and the Department of Commerce, Bureau of Industry and Security (BIS) issued changes to the International Traffic in Arms Regulations...more
ANTICORRUPTION DEVELOPMENTS -
Former Securency Manager Convicted of Corruption -
On May 11, 2016, Peter Michael Chapman, former manager of polymer banknote manufacturer Securency PTY Ltd. (“Securency”), was...more
6/2/2016
/ Africa ,
Arms Embargo ,
China ,
Export Controls ,
Mining Contracts ,
Myanmar ,
Nonprofits ,
Office of Foreign Assets Control (OFAC) ,
Panama ,
Red Notices ,
Vietnam ,
Waked Sanctions
On March 31, 2016, the Department of Justice’s Civil Rights Division (“DOJ”) issued a technical assistance letter (TAL) that highlights the potential for employers to create discrimination claims inadvertently when requesting...more
ANTICORRUPTION DEVELOPMENTS –
Final Judgments Entered Against Seven Former DAP Employees; Four Ordered to Pay -
The Securities and Exchange Commission (SEC) announced earlier this month that on April 6 and 7, 2016,...more
On April 3, 2016, it became public that an anonymous source had leaked 11 million confidential documents, known as the “Panama Papers,” belonging to the Panama-headquartered international law firm Mossack Fonseca. As more of...more
ANTICORRUPTION DEVELOPMENTS –
Olympus to Pay $646 Million for AntiKickback and FCPA Violations -
Early this month, Olympus Corp. of the Americas (OCA) settled government investigations related to violations of the...more
4/8/2016
/ Anti-Kickback Statute ,
BSA/AML ,
Cuba ,
Economic Sanctions ,
Export Controls ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
INTERPOL ,
Novartis ,
Office of Foreign Assets Control (OFAC) ,
Qualcomm ,
Red Notices ,
World Bank ,
ZTE
On March 24, 2016, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued General License I authorizing U.S. persons to undertake certain transactions ordinarily incident to the negotiation of, and...more
On Wednesday, March 16, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) implemented amendments to the Cuban...more
On February 19, 2016, the Committee on Foreign Investment in the United States (CFIUS) released its annual report to Congress. CFIUS is an interagency committee that reviews the national security risks associated with...more
On February 19, 2016, the Committee on Foreign Investment in the United States (CFIUS) released its annual report to Congress. CFIUS is an interagency committee that reviews the national security risks associated with...more
If you read one thing…
- Further relaxation of sanctions on Cuba, effective on January 27, 2016, allows U.S. financial institutions to finance authorized exports and reexports to Cuba of items other than...more
On January 16, 2016, the International Atomic Energy Agency (IAEA) verified, and U.S. Secretary of State John Kerry confirmed, that Iran had implemented its key nuclear-related measures described in the Joint Comprehensive...more
If you read one thing...
- There are far greater opportunities for U.S. companies with respect to Iran, particularly through foreign subsidiaries and in the commercial aviation sector, however, U.S. persons and...more
On December 15, 2015, U.S. congressional leaders announced a year-end budget compromise that removes the ban on the export of crude oil from the United States. In exchange for this concession, the Democratic-led opposition to...more
On November 2, 2015, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) updated the List of Medical Supplies eligible for export or reexport to Iran under the general license set forth at Section...more
On August 14, 2015, the U.S. Department of Commerce’s, Bureau of Industry and Security (BIS) indicated that it would approve a number of export license applications permitting parties in the United States to swap crude oil...more
On July 14, 2015, Iran and the P5+1 countries (China, France, Germany, Russia, the United Kingdom and the United States), with the High Representative of the European Union for Foreign Affairs and Security Policy, finalized...more
7/16/2015
/ Aircraft Equipment ,
Airlines ,
EU ,
Foreign Trade Regulations ,
Imports ,
Inspections ,
International Atomic Energy Agency ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Member State ,
Multinationals ,
P5+1 Nations ,
SDN List ,
UN Security Council ,
United Nations
On July 10, 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published, in abbreviated form, Venezuela Sanctions Regulations (VSR) in 31 C.F.R. Part 591. The VSR implement the Venezuela...more
As nuclear negotiations in Vienna reach the targeted June 30, 2015, deadline for an agreement, the P5+1, EU and Iran agreed today to extend the limited and temporary sanctions relief to Iran through July 7, 2015. The...more
On June 3, 2015, the U.S. Department of State’s Directorate of Defense Trade Controls (DDTC) and the Department of Commerce’s Bureau of Industry and Security (BIS) published proposed rules amending the International Traffic...more
On May 26, 2015, the U.S. Department of State, Directorate of Defense Trade Controls (DDTC) released a proposed rule to amend the International Traffic in Arms Regulations (ITAR) with respect to the provision of defense...more
6/1/2015
On May 5, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued guidance regarding travel between the United States and Cuba. In particular, the guidance clarifies that companies authorized to...more