Tensions between the United States and China have increased markedly in recent years, ushering in possible implications for both long-term national security and everyday commerce. As a first step in navigating potential and...more
The comment period has opened for the US Department of Commerce’s recently issued CHIPS for America incentive program notice of proposed rulemaking, which lays out funding requirements, incentives, and restrictions for...more
Investors and targets generally view cross-border transactions from a risk-based perspective. That calculus applies not only to the manner in which an investment is made, but also to the level of diligence conducted, the...more
This Insight outlines, at a high level, the prior US outbound investment regime, its structure, and some reasons for its ultimate demise. We discuss some useful lessons from the prior attempt and identify areas where...more
The last few years have thrown many surprises at businesses. Organizations across all sectors have faced inflation, global conflicts, supply chain challenges, a pandemic, and continually changing government policies. In 2023,...more
1/23/2023
/ Automotive Industry ,
Capital Markets ,
Cryptocurrency ,
Energy Sector ,
EU ,
False Claims Act (FCA) ,
FDIC ,
Financial Services Industry ,
FinTech ,
Food and Drug Administration (FDA) ,
Life Sciences ,
Tax Credits
Congress recently passed and sent to the president the Protecting American Intellectual Property Act of 2022. The act mandates sanctions on entities and individuals identified by the executive branch as having committed...more
Based on consistent comments by the US Congress, think tanks, and the US-China Economic and Security Review Commission, several members of Congress proposed legislation to shift jurisdiction for export controls from Commerce...more
11/8/2022
/ Bureau of Industry and Security (BIS) ,
China ,
Commerce Control List ,
Departments of Commerce ,
Dual Use Goods ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Control Reform Act (ECRA) ,
Export Controls ,
Exports ,
Foreign Policy ,
National Security ,
Proposed Legislation ,
Software ,
Technology
The US Department of Commerce’s Bureau of Industry and Security (BIS) released an interim final rule (IFR) on October 7, 2022, imposing additional export controls on certain advanced computing and semiconductor manufacturing...more
The Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury issued a final rule on September 29, 2022, implementing the bipartisan Corporate Transparency Act’s beneficial ownership information...more
President Joseph Biden’s recently issued Executive Order provides guidance related to the US national security foreign direct investment review process administered by the Committee on Foreign Investment in the United States....more
9/22/2022
/ Biden Administration ,
CFIUS ,
Corporate Counsel ,
Critical Infrastructure Sectors ,
Defense Production Act ,
Executive Orders ,
Export Controls ,
FIRRMA ,
Foreign Investment ,
National Security ,
Supply Chain
Concerns are growing over the national security impact of real estate purchases by foreign persons, only a small portion of which are reviewed by the Committee on Foreign Investment in the United States (CFIUS). These...more
Given its existing limitations, the Committee on Foreign Investment in the United States is ready for its next evolution—not a tweaking around the edges of an existing process that continues to perpetuate limitations to the...more
The United States, in concert with Western allies, has imposed sweeping sanctions on Russia in response to President Vladimir Putin’s action in Ukraine. In addition to a full suite of sanctions administered by the US...more
In connection with recent Russia-related sanctions issued by the US government, organizations face a variety of issues when navigating the questions of who and what transactions may be subject to the reach of these sanctions....more
Based on the evolving military operations of the Russian Federation in Ukraine, the United States has imposed additional sanctions on the Russian Federation, Russian leadership, and various financial institutions and...more
In response to the conflict in Ukraine, the United States, United Kingdom, and European Union have issued a number of new sanctions against Russia. As we continue to monitor the evolving situation, we are pleased to offer...more
In response to the Russian Federation’s recognition of certain regions of Ukraine as independent states which followed an expansion of nearly 200,000 troops on the Ukrainian border, US President Joseph Biden authorized the...more
Public companies should consider the impact of new sanctions on Russia in assessing risk factor disclosure for upcoming annual reports on Form 10-K and quarterly reports on Form 10-Q. ...more
The United States, United Kingdom, and Australia have signed a historic agreement that will allow Australia to operate—and potentially construct—nuclear-powered submarines. This cooperative engagement reflects, in part, the...more
It is the prerogative of government authorities—US and non-US alike—to demand information from individuals or organizations and seek the assistance of courts to enforce compliance. Although such demands take various forms,...more
The new executive order continues the policy of prohibiting US persons’ transactions in the publicly traded securities of select Chinese companies, but expands the scope to include both Chinese companies that operate or have...more
6/9/2021
/ Biden Administration ,
China ,
Defense Sector ,
Economic Sanctions ,
Executive Orders ,
Financial Instruments ,
Foreign Policy ,
Human Rights ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Prohibited Transactions ,
Securities Transactions ,
Surveillance
The still evolving US sanctions (as well as the EU and now also separate UK sanctions) continue to challenge Russia-related business. The sanctions frameworks are complex, changing, and, at times, inconsistent as well as...more
3/23/2021
/ Bureau of Industry and Security (BIS) ,
CAATSA ,
Crimea ,
Economic Sanctions ,
EU ,
Foreign Policy ,
Infrastructure ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Russia ,
SDN List ,
UK ,
UK Brexit
Executive Order 13873 focused on securing the information and communications technology and services supply chain against transactions involving “foreign adversaries.” Companies in the information and communications...more
President Trump’s Executive Order Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies (EO 13959) prohibits transactions by or on behalf of US persons in publicly traded...more
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) published final rules on January 15, 2021, implementing the sanctions put in place by Executive Order 13936 (EO 13936) and the Hong Kong Autonomy Act...more
2/1/2021
/ China ,
Economic Sanctions ,
Executive Orders ,
Foreign Entities ,
Foreign Relations ,
General Licenses ,
Hong Kong ,
Hong Kong Autonomy Act (HKAA) ,
International Emergency Economic Powers Act (IEEPA) ,
National Security ,
Office of Foreign Assets Control (OFAC)