Christian Davis on Trump Administration

New Executive Order Restricts U.S. Persons from Trading in Publicly Traded Securities and Derivatives of Certain “Communist...

Key Points - On November 12, 2020, President Trump issued a new EO prohibiting U.S. persons from engaging in transactions in publicly traded securities of certain CCMCs, or any securities that are derivative of, or are...more

1/4/2021 / China , Department of Defense (DOD) , Derivatives , Executive Orders , Financial Instruments , NDAA , Office of Foreign Assets Control (OFAC) , Private Equity , Publicly-Traded Companies , SDN List , Trade Relations , Trump Administration , US Trade Policies

President Trump Establishes Framework to Ban the Use of Foreign-Sourced Equipment in the U.S. Electric Grid

- On May 1, 2020, President Trump issued an Executive Order (E.O.) aimed at curtailing the use of foreign-sourced electric equipment installed on the U.S. “bulk-power system,” which is commonly understood to mean the U.S....more

5/6/2020 / Electricity , Energy Sector , Executive Orders , Foreign Adversaries , Licensing Rules , Trump Administration

Red Notice Newsletter - January 2020

IN THIS ISSUE • Anticorruption Developments • Export Control Sanctions and Customs Enforcement • Export Control and Sanctions Developments • Global Investigations Resources • Writing and Speaking...more

2/26/2020 / Anti-Corruption , Bureau of Industry and Security (BIS) , CFIUS , Civil Monetary Penalty , Criminal Conspiracy , Criminal Convictions , Customs and Border Protection , Department of Homeland Security (DHS) , Department of Justice (DOJ) , Directorate of Defense Trade Controls (DDTC) , Due Process , Economic Sanctions , Enforcement Actions , Executive Orders , Export Control Reform Act (ECRA) , Export Controls , Exports , Fifth Amendment , Forced Labor , Foreign Corrupt Practices Act (FCPA) , Foreign Nationals , Guilty Pleas , Imports , Indictments , ITAR , Money Laundering , Office of Foreign Assets Control (OFAC) , Red Notices , Sanction Violations , Sanctions , SDN List , Securities and Exchange Commission (SEC) , Smuggling , Trump Administration , U.S. Treasury , Whistleblowers

Commerce Issues Proposed Rule Implementing “Supply Chain Executive Order”

Key Points - On November 26, 2019, the U.S. Department of Commerce (“Commerce”) issued a proposed rule to implement Executive Order 13873 of May 15, 2019, on “Securing the Information and Communications Technology and...more

12/4/2019 / CFIUS , Executive Orders , Foreign Acquisitions , Foreign Adversaries , Foreign Investment , Information and Communication Technology (ICT) , International Emergency Economic Powers Act (IEEPA) , National Security , Proposed Regulation , Proposed Rules , Public Comment , Supply Chain , Trump Administration , U.S. Commerce Department

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

9/9/2019 / Anti-Corruption , Appeals , Bribery , Criminal Conspiracy , Criminal Prosecution , Department of Defense (DOD) , Department of Justice (DOJ) , Economic Sanctions , Enforcement Actions , Entity List , Executive Orders , Export Controls , Exports , False Statements , Fines , Foreign Corrupt Practices Act (FCPA) , Foreign Narcotics Kingpin Designation Act , General Licenses , Guilty Pleas , Huawei , Indictments , Internal Investigations , International Emergency Economic Powers Act (IEEPA) , ITSR , Manufacturers , Medical Devices , Money Laundering , New Guidance , Office of Foreign Assets Control (OFAC) , Plea Agreements , Settlement , SFO , Smuggling , Suspensions & Debarments , Tariffs , Tax Evasion , Technology Sector , Telecommunications , Trump Administration , World Bank

Recent U.S. Sanctions Designations Create Additional Risks for Companies Doing Business with Venezuela

• OFAC recently added a Moscow-based Russian-Venezuelan joint venture bank, Evrofinance Mosnarbank (“Evrofinance”), to the List of Specially Designated Nationals and Blocked Persons (the “SDN List”) for engaging in sanctions...more

3/29/2019 / Banking Sector , Blocked Person , Economic Sanctions , Financial Institutions , Foreign Policy , General Licenses , Joint Venture , National Security , Office of Foreign Assets Control (OFAC) , Oil & Gas , Russia , SDN List , Trump Administration , Venezuela

OFAC Sanctions Venezuelan State-Owned Energy Company PdVSA, Releases New General Licenses and FAQs for Venezuela Sanctions Regime

• On January 28, 2019, OFAC added the Venezuelan state-owned oil and natural gas company PdVSA to its SDN List. • As a result, U.S. persons are generally prohibited from engaging in transactions with PdVSA and entities that...more

2/6/2019 / Blocked Person , Bonds , Capital Markets , Debt-Equity , Economic Sanctions , Energy Sector , Executive Orders , General Licenses , Office of Foreign Assets Control (OFAC) , Oil & Gas , SDN List , Securities Transactions , State-Owned Enterprises , Trump Administration , Venezuela

Podcast: CFIUS and FIRRMA: What You Need to Know

In this episode, Akin Gump international trade partners Tatman Savio and Christian Davis discuss the Committee on Foreign Investment in the U.S. (CFIUS) and how the new Foreign Investment Risk Review Modernization Act...more

12/13/2018 / CFIUS , China , Covered Transactions , Critical Infrastructure Sectors , Cross-Border Transactions , Due Diligence , Emerging Technology Companies , Export Controls , Federal Pilot Programs , FIRRMA , Foreign Investment , National Security , Reporting Requirements , Technology Sector , Trump Administration , U.S. Treasury

Red Notice Newsletter - November 2018

ANTICORRUPTION DEVELOPMENTS - Deputy Attorney General Rod Rosenstein Announces Pursuing Individuals Will be a “Top Priority” for Corporate Enforcement Actions - On November 29, 2018, Deputy Attorney General Rod J....more

12/7/2018 / Anti-Money Laundering , China , Corporate Misconduct , Corruption , Criminal Conspiracy , Criminal Prosecution , Department of Justice (DOJ) , Enforcement Actions , Exports , Foreign Corrupt Practices Act (FCPA) , Guilty Pleas , Internal Controls , Iran Sanctions , Office of Foreign Assets Control (OFAC) , Securities and Exchange Commission (SEC) , Trump Administration , White Collar Crimes

CFIUS Pilot Program Expands Jurisdiction and Imposes Mandatory Reporting on Certain Industries

• On October 10, 2018, CFIUS announced a pilot program that implements significant provisions of FIRRMA. The program becomes effective November 10, 2018. • Under the program, CFIUS jurisdiction will be expanded to cover...more

10/11/2018 / CFIUS , Critical Infrastructure Sectors , Cross-Border Transactions , Emerging Technology Companies , Federal Pilot Programs , FIRRMA , Foreign Acquisitions , Foreign Investment , Manufacturers , NAICS , National Security , Trump Administration

Red Notice Newsletter - September 2018

ANTICORRUPTION DEVELOPMENTS - Petrobras Settles with U.S. Authorities Over Alleged FCPA Violations - On September 27, 2018, the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC)...more

10/2/2018 / Anti-Corruption , Arms Export Control Act , Books & Records , Bureau of Industry and Security (BIS) , CAATSA , CEOs , Civil Monetary Penalty , Comment Period , Consent Order , Corporate Fines , Country of Origin , Criminal Conspiracy , Criminal Prosecution , Customs , Defense Contracts , Department of Defense (DOD) , Department of Justice (DOJ) , Economic Sanctions , Emerging Growth Companies , Energy Sector , Enforcement Actions , Executive Orders , Export Administration Regulations (EAR) , Export Control Reform (ECR) , Export Controls , Exports , Federal Trade Commission (FTC) , Foreign Corrupt Practices Act (FCPA) , Foreign Interference in US Elections , General Licenses , Guilty Pleas , Indictments , Investigations , ITSR , List of Specified Persons (LSP) , Manufacturers , Mining , Money Laundering , National Security , NDAA , Office of Foreign Assets Control (OFAC) , Oil & Gas , Pharmaceutical Industry , Public Comment , Real Estate Brokers , Recordkeeping Requirements , Remand , Reporting Requirements , Retailers , Securities and Exchange Commission (SEC) , Settlement Agreements , SFO , Testimony , Trump Administration , Voluntary Disclosure , Whistleblower Awards , Whistleblowers , Wire Fraud

New CFIUS Law: Key Issues Affecting the Energy Sector

• FIRRMA broadens the scope of a CFIUS review beyond transactions that could result in a foreign person gaining the ability to control a U.S. business. Consequently, more energy deals could be captured through expanded...more

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

9/6/2018 / 3-D Technology , Anti-Corruption , Appeals , Berry Amendment , Bribery , Bureau of Industry and Security (BIS) , CFIUS , Civil Monetary Penalty , Corruption , Criminal Conspiracy , Criminal Penalties , Criminal Prosecution , Critical Infrastructure Sectors , Customs and Border Protection , Declination , Department of Defense (DOD) , Department of Justice (DOJ) , Economic Sanctions , Embezzlement , Enforcement Actions , Entity List , Executive Orders , Export Administration Regulations (EAR) , Export Controls , Exports , Filing Requirements , FIRRMA , Foreign Corrupt Practices Act (FCPA) , Foreign Investment , Foreign Policy , Former Employee , General Licenses , Guilty Pleas , Immigration and Customs Enforcement (ICE) , Imports , Insurance Contracts , Internal Investigations , Iran Sanctions , Joint Comprehensive Plan of Action (JCPOA) , Jurisdiction , Licensing Rules , Money Laundering , National Security , NDAA , New Legislation , Office of Foreign Assets Control (OFAC) , Personal Data , Preliminary Injunctions , Probationary Period , Racketeering , Sanction Violations , Sanctions , Securities and Exchange Commission (SEC) , Settlement Agreements , SFO , Suspensions & Debarments , The Wassenaar Arrangement , Trade Agreements Act , Trump Administration , Wire Fraud , World Bank

The CFIUS Reform Legislation—FIRRMA—Will Become Law on August 13, 2018

CFIUS will continue to have broad jurisdiction to conduct national security reviews of foreign investments that could result in foreign control of a U.S. business. When regulations implementing FIRRMA become effective within...more

The CFIUS Reform Legislation to Become Law

Today, President Trump will sign the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA). This bill expands the purview of CFIUS, which will now have jurisdiction over real estate transactions near sensitive...more

8/13/2018 / CFIUS , Critical Infrastructure Sectors , Cross-Border Transactions , Export Controls , FIRRMA , Foreign Acquisitions , Foreign Investment , National Security , Trump Administration