President Trump signs law authorizing sanctions on individuals and financial institutions and ends U.S. preferential treatment for Hong Kong.
The Hong Kong Autonomy Act authorizes sanctions on foreign financial...more
8/5/2020
/ China ,
Defense Production Act ,
Executive Orders ,
Export Control Reform Act (ECRA) ,
Exports ,
Financial Institutions ,
Foreign Financial Institutions (FFI) ,
Hong Kong ,
Hong Kong Autonomy Act (HKAA) ,
Hong Kong Human Rights and Democracy Act (HKHRDA) ,
Immigration and Nationality Act ,
International Emergency Economic Powers Act (IEEPA) ,
National Security ,
Sanctions ,
U.S. Treasury ,
US Department of State ,
Visas
On Monday, July 6, the U.S. Small Business Administration (SBA) publicly disclosed the names and addresses of Paycheck Protection Program (PPP) borrowers that received loans of at least $150,000 each.
SBA has published a...more
On May 15, 2020, the Small Business Administration (SBA) published the application form that Paycheck Protection Program (PPP) borrowers will submit to their banks when they apply for forgiveness of their PPP loans. The...more
5/19/2020
/ Applications ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
FTEs ,
Loan Forgiveness ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
U.S. Treasury
Under retroactive guidance issued by SBA and the Treasury Department on April 23, 2020, CARES Act Paycheck Protection Program (PPP) applicants must consider their access to alternative sources of liquidity before certifying...more
4/28/2020
/ Borrowers ,
CARES Act ,
Certification Requirements ,
Federal Register ,
Good Faith ,
Interim Final Rules (IFR) ,
Liquidity ,
New Guidance ,
Paycheck Protection Program (PPP) ,
SAFE ,
SBA ,
U.S. Treasury
Additional corporate credit facilities under the CARES Act for corporate debt and corporate bonds issued by eligible issuers.
Treasury will provide $75 billion in equity to the PMCCF and SMCCF.
...more
4/24/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Corporate Bonds ,
Debt Instruments ,
Federal Reserve ,
FRBNY ,
Primary Market Corporate Credit Facility (PMCCF) ,
Relief Measures ,
Secondary Market Corporate Credit Facility (SMCCF) ,
SPVs ,
U.S. Treasury
The CARES Act appropriates $500 billion in U.S. Department of Treasury loans and loan guarantees for mid-sized and large businesses, states and municipalities, in addition to the $350 billion it appropriates for small...more
As it targets terrorist groups and their finances, the U.S. Government announces potent secondary sanctions that can impede correspondent banking relationships of non-U.S. banks.
A new U.S. Executive Order updates the...more
9/12/2019
/ Anti-Money Laundering ,
Due Diligence ,
Entity List ,
Executive Orders ,
Financial Institutions ,
Foreign Banks ,
Non-Bank Lenders ,
SDN List ,
Terrorism Funding ,
Terrorist Financing Regulations ,
U.S. Treasury
The Office of Financial Sanctions Implementation ramps up enforcement activities in London -
A new UK sanctions enforcement body with added civil enforcement tools is ramping up activities. ...more
11/1/2017
/ Economic Sanctions ,
EU ,
Financial Institutions ,
HM Treasury ,
International Finance ,
Office of Financial Sanctions Implementation (OFSI) ,
Office of Foreign Assets Control (OFAC) ,
Policing and Crime Act 2017 ,
U.S. Treasury ,
UK ,
Voluntary Disclosure
The United Nations and United States recently took significant new steps to expand sanctions on North Korea, with implications for international banking; shipping and port activities; air transport; energy and mining sectors;...more
4/4/2016
/ Censorship ,
Economic Sanctions ,
Embargo ,
Executive Orders ,
Human Rights ,
International Finance ,
North Korea ,
Oil & Gas ,
Shipping ,
U.S. Treasury ,
UN Security Council