President Donald Trump announced on Feb. 26, 2025, that he was reversing the authorization granted to Chevron Corp. and its subsidiaries (Chevron) by the Biden Administration as a concession aimed at promoting free elections...more
3/7/2025
/ Chevron ,
Economic Sanctions ,
Energy Sector ,
Financial Services Industry ,
Foreign Investment ,
General Licenses ,
Human Rights ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Subsidiaries ,
Trump Administration ,
U.S. Treasury ,
Venezuela
U.S. President Donald Trump issued Executive Order 14157 (the EO) on Jan. 20, 2025, calling for the designation of drug cartels and other foreign organizations as foreign terrorist organizations (FTOs) or specially designated...more
President Donald Trump on Jan. 20, 2025, issued various immigration-related Executive Orders (EOs) and presidential actions that could have an immediate and lasting impact on Latin American countries. President Trump's...more
2/3/2025
/ Economic Sanctions ,
Executive Orders ,
Foreign Policy ,
Immigration Procedures ,
International Emergency Economic Powers Act (IEEPA) ,
International Trade ,
Latin America ,
Office of Foreign Assets Control (OFAC) ,
Retaliation ,
Tariffs ,
Trump Administration
Within hours after taking office on Jan. 20, 2025, U.S. President Donald Trump signed an omnibus executive order revoking 78 executive actions by the previous administration, dating back to 2021. Among them, President Trump...more
Besides certain expansions on remittances in 2022, the White House, on Jan. 14, 2025, issued a statement announcing President Joe Biden's plans to relax sanctions on Cuba through a series of broad measures aimed at improving...more
1/17/2025
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
Cuba ,
Economic Sanctions ,
Export Controls ,
Foreign Policy ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
State Sponsors of Terrorism ,
Trump Administration ,
U.S. Treasury
Nearly six months after President Joe Biden signed an executive order (EO) authorizing secondary sanctions against Foreign Financial Institutions (FFIs) conducting or facilitating significant transactions with certain...more
6/25/2024
/ Biden Administration ,
Compliance ,
Economic Sanctions ,
Evasion ,
Executive Orders ,
Financial Transactions ,
Foreign Financial Institutions (FFI) ,
Foreign Policy ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
U.S. Treasury
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) amended the Cuban Assets Control Regulations (CACR), 31 CFR Part 515, to promote internet freedom in Cuba, support independent Cuban private-sector...more
5/30/2024
/ Amended Regulation ,
Bank Accounts ,
Banking Sector ,
Biden Administration ,
Blocked Person ,
Cuba ,
Cuban Assets Control Regulations (CACR) ,
Economic Development ,
Entrepreneurs ,
Financial Services Industry ,
Foreign Nationals ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Private Sector ,
SDN List
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued General License 44A (GL 44A) on April 17, 2024, replacing and superseding General License 44 (GL 44). On Oct. 18, 2023, OFAC suspended...more
Please join Holland & Knight's Financial Services Regulatory Team for a roundtable discussion on what to expect on the financial services landscape in 2024. Our attorneys will present on a wide range of topics in a "3-Minute...more
1/3/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
BSA/AML ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Continuing Legal Education ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Regulatory Agencies ,
Financial Services Industry ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Securities and Exchange Commission (SEC) ,
Webinars
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) on Oct. 18, 2023, suspended certain U.S. sanctions under the Venezuela Sanctions Regulations (VSR), including measures on Venezuela's oil and gas...more
• President Donald Trump has issued an Executive Order expanding the current sanctions relating to Venezuela by blocking all property and interests in property of the government of Venezuela and the Nicolás Maduro...more
8/8/2019
/ Banking Sector ,
Blocked Person ,
Economic Sanctions ,
Executive Orders ,
Foreign Policy ,
General Licenses ,
Human Rights ,
Humanitarian Assistance ,
Office of Foreign Assets Control (OFAC) ,
Politically Exposed Person (PEPs) ,
SDN List ,
Secretary of the Treasury ,
Trump Administration ,
Venezuela
• National Security Advisor Ambassador John Bolton issued a statement threatening sanctions against non-U.S. banks for facilitating illegitimate transactions with certain Venezuelan individuals and entities.
• This...more
3/14/2019
/ Banking Sector ,
Blocked Entities ,
Cross-Border Transactions ,
Economic Sanctions ,
Executive Orders ,
Foreign Financial Institutions (FFI) ,
Foreign Relations ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Secondary Sanctions ,
Venezuela
• The U.S. Department of the Treasury's (Treasury) Office of Foreign Assets Control (OFAC) has designated five officials affiliated with the regime of Nicolas Maduro pursuant to Executive Order 13850 (E.O. 13850), including...more
• Pursuant to Executive Order 13850 (E.O. 13850), the U.S. Department of the Treasury's (Treasury) Office of Foreign Assets Control (OFAC) designated Petroleos de Venezuela, S.A. (PdVSA), effectively blocking PdVSA's property...more
1/31/2019
/ Banking Sector ,
Blocked Person ,
Economic Sanctions ,
Executive Orders ,
Financial Institutions ,
Foreign Policy ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Petroleum ,
SDN List ,
Trump Administration ,
Venezuela
• President Donald Trump has issued an Executive Order (the E.O.) imposing additional sanctions with respect to the situation in Venezuela, and the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has...more
8/29/2017
/ Blocked Person ,
Citgo ,
Economic Sanctions ,
Executive Orders ,
Financial Institutions ,
Foreign Policy ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Petroleum ,
SDN List ,
Trump Administration ,
Venezuela
In the wake of the "Panama Papers" – the unprecedented leak of 11.5 million files from a Panamanian law firm that revealed thousands of names and addresses linked to offshore companies – the White House has announced several...more
5/20/2016
/ Bank Accounts ,
Banking Sector ,
Beneficial Owner ,
BSA/AML ,
Corporate Counsel ,
Corruption ,
Criminal Investigations ,
Customer Due Diligence (CDD) ,
Department of Justice (DOJ) ,
Economic Sanctions ,
FATCA ,
Financial Institutions ,
FinCEN ,
Foreign-Owned Corporations ,
Geographic Targeting Order ,
IRS ,
Money Laundering ,
Mossack Fonseca ,
Office of Foreign Assets Control (OFAC) ,
Offshore Funds ,
Panama Papers ,
Shell Corporations ,
Tax Evasion ,
Tax Haven ,
Wire Transfers