On July 30, 2020, the Committee on Foreign Investment in the United States (CFIUS or the Committee) released its annual report to Congress for calendar year 2019. CFIUS, an interagency committee led by the U.S. Department of...more
On July 22, 2020, the U.S. Department of Commerce issued a final rule adding 11 Chinese companies (Listed Entities) to the Bureau of Industry and Security’s (BIS) Entity List for allegedly “engaging in or enabling activities...more
7/29/2020
/ Bureau of Industry and Security (BIS) ,
China ,
Commodities ,
Economic Sanctions ,
End-Users ,
Entity List ,
Export Administration Regulations (EAR) ,
Fashion Industry ,
Foreign Policy ,
Human Rights ,
Muslims ,
Statutory Violations ,
Technology Sector ,
U.S. Commerce Department
In the wake of China’s new national security law for Hong Kong that went into effect on June 30, 2020, the Trump administration has taken several steps to significantly pare back Hong Kong’s preferential status under U.S....more
7/20/2020
/ Bureau of Industry and Security (BIS) ,
China ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Financial Institutions (FFI) ,
Foreign Persons ,
Hong Kong ,
Hong Kong Autonomy Act (HKAA) ,
Human Rights ,
Office of Foreign Assets Control (OFAC) ,
Preferential Trade Status ,
Revocation ,
Risk Assessment ,
Rollbacks ,
Trump Administration ,
U.S. Commerce Department ,
US Trade Policies
Since the beginning of 2020, the U.S. Department of the Treasury (Treasury) has issued numerous regulations to implement fully the Foreign Risk Review Modernization Act of 2018 (FIRRMA) on behalf of the Committee on Foreign...more
5/27/2020
/ Amended Rules ,
Annual Reports ,
Bulk Electric System ,
CFIUS ,
China ,
Critical Infrastructure Sectors ,
Department of Energy (DOE) ,
Export Administration Regulations (EAR) ,
Export Controls ,
FCC ,
Filing Fees ,
FIRRMA ,
Foreign Investment ,
Huawei ,
Imports ,
Investment Funds ,
ITAR ,
Mandatory Declarations ,
NAICS ,
National Security ,
Nuclear Regulatory Commission ,
Proposed Rules ,
Section 232 ,
Technology Sector ,
Telecommunications ,
Trump Administration
In response to the announcement on Friday by the U.S. Department of Commerce of new export-related restrictions targeting Huawei Technologies Co., Ltd. and several of its non-U.S. affiliates (collectively, Huawei), Sen. Ben...more
5/19/2020
/ Article of Manufacture ,
Bilateral Agreements ,
China ,
De Minimus Doctrine ,
Driver's Licenses ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Foreign Direct Product Rule ,
Free Trade Agreements ,
Huawei ,
Interim Final Rules (IFR) ,
National Security ,
Sanction Violations ,
Semiconductors ,
Software ,
Technology ,
Trade Restrictions ,
Trade Retaliation ,
U.S. Commerce Department
On April 28, 2020, the Bureau of Industry and Security, U.S. Department of Commerce (BIS) published two final rules — both of which will take effect on June 29, 2020 — and one proposed rule — for which comments are due by...more
5/9/2020
/ Bureau of Industry and Security (BIS) ,
China ,
ECCNs ,
Export Controls ,
Exports ,
Final Rules ,
Foreign Acquisitions ,
Licensing Rules ,
Military End Use ,
Proposed Rules ,
Technology Sector
On Friday, May 1, 2020, the Trump administration issued an executive order prohibiting the acquisition and installation of “bulk-power system electric equipment” (such as generators, circuit breakers, metering equipment,...more
With strengthened legislative mandates and significant regulatory reform in place, the U.S. government’s national security focus on protecting sensitive technology and data continues to gather steam. Although exactly what...more
3/11/2020
/ Bureau of Industry and Security (BIS) ,
CFIUS ,
China ,
Corporate Counsel ,
Covered Transactions ,
Data Collection ,
Digital Data ,
Divestiture ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Filing Fees ,
Foreign Acquisitions ,
Foreign Investment ,
Germany ,
Hotels ,
Huawei ,
Innovative Technology ,
NAICS ,
National Security ,
National Security Review Proceedings ,
OIRA ,
Semiconductors ,
Trump Administration ,
U.S. Treasury
In this month's edition of our Privacy & Cybersecurity Update, we examine the EU advocate general's decision in Schrems II, a federal court's ruling that an insurer owed coverage for a social engineering loss, the Chinese...more
2/6/2020
/ Advocate General ,
China ,
Cybersecurity ,
Cybersecurity Framework ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
EU ,
EU-US Privacy Shield ,
Federal Trade Commission (FTC) ,
GA Supreme Court ,
Hackers ,
Mobile Apps ,
Negligence ,
NIST ,
Personal Data ,
Popular ,
Ransomware ,
Schrems I & Schrems II
The achievement of legislative consensus in 2018 around a preferred approach to safeguarding U.S. technology and information from national security threats via foreign investment resulted in passage of the Foreign Investment...more
1/22/2020
/ CFIUS ,
China ,
Covered Real Estate Transactions ,
Critical Infrastructure Sectors ,
Excepted Investors ,
Export Controls ,
Federal Pilot Programs ,
Final Rules ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
National Security ,
Technology Sector ,
Technology Transfer Agreements ,
Trump Administration
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including a review of the first year of GDPR enforcement, analysis of...more
10/3/2019
/ Anti-Money Laundering ,
Appeals ,
Blocking Statutes ,
Bribery ,
CFTC ,
China ,
CLOUD Act ,
Communication Restrictions ,
Compliance ,
Conspiracies ,
Cooperation Agreement ,
Crime (Overseas Production Orders) Act 2019 (the COPO Act) ,
Criminal Prosecution ,
Cross-Border Transactions ,
Cryptocurrency ,
Cybersecurity ,
Deferred Prosecution Agreements ,
Denial of Certiorari ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Disclosure ,
Dodd-Frank ,
Economic Sanctions ,
Enforcement Actions ,
EU ,
EURIBOR ,
Exports ,
Extradition ,
Extraterritoriality Rules ,
Financial Conduct Authority (FCA) ,
Financial Records ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Exchanges ,
France ,
Fraud ,
General Data Protection Regulation (GDPR) ,
Government Investigations ,
Hackers ,
Hungary ,
Imports ,
India ,
Indictments ,
Information Sharing ,
Iran Sanctions ,
Israel ,
Lithuania ,
Money Laundering ,
Morrison v National Australia Bank ,
Multinationals ,
Office of Foreign Assets Control (OFAC) ,
Opioid ,
Pharmaceutical Industry ,
Popular ,
Rate-Rigging ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Serious Fraud Office (SFO) ,
Spoofing ,
Subpoenas ,
Swiss Supreme Court ,
Switzerland ,
Tax Crimes ,
Tax Evasion ,
Tax Treaty ,
Turkey ,
UK ,
United States ,
Venezuela ,
Wal-Mart
On March 28, 2019, the Oversight Board of the United Kingdom’s Huawei Cyber Security Evaluation Centre (HCSEC) released a report identifying “serious and systematic defects in Huawei’s software engineering and cyber security...more
4/17/2019
/ Annual Reports ,
CFIUS ,
China ,
Corporate Counsel ,
Cyber Threats ,
Cybersecurity ,
Exports ,
HCSEC ,
National Security ,
Oversight Committee ,
Popular ,
Risk Assessment ,
Risk Mitigation ,
Software Developers ,
Telecommunications ,
UK
On January 29-30, 2019, Skadden and Han Kun Law Offices co-hosted two seminars — first in New York, then in Washington, D.C. — titled “Enforcement Focus on China: What Companies Should Do to Be Prepared.” Topics included the...more
2/11/2019
/ Anti-Corruption ,
China ,
Civil Liability ,
Compliance ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Discovery ,
Enforcement Actions ,
Extradition ,
Federal Rules of Criminal Procedure ,
Foreign Corporations ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Defendants ,
Foreign Policy ,
International Litigation ,
Multinationals ,
National Security ,
Trump Administration
Tariffs targeting Chinese imports into the United States garnered headlines throughout 2018. However, during the latter part of the year, the U.S. government more quietly initiated efforts that in 2019 and beyond could be...more
1/21/2019
/ Bureau of Industry and Security (BIS) ,
CFIUS ,
China ,
Critical Infrastructure Sectors ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Control Reform Act (ECRA) ,
Export Controls ,
Exports ,
FIRRMA ,
Foreign Corrupt Practices Act (FCPA) ,
National Security ,
NDAA ,
Notice of Proposed Rulemaking (NOPR) ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Burden ,
Tariffs ,
Technology Sector ,
Trade Policy ,
Trade Relations ,
Trump Administration ,
U.S. Commerce Department
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including DOJ guidance on the use of corporate monitors in criminal...more
1/7/2019
/ Anti-Bribery ,
Anti-Corruption ,
Anti-Money Laundering ,
Appeals ,
Attorney-Client Privilege ,
Brazil ,
Bribery ,
BSA/AML ,
China ,
Corporate Counsel ,
Criminal Conspiracy ,
Criminal Convictions ,
Criminal Investigations ,
Cross-Border ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Data Privacy ,
Data Protection Acts ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
Exports ,
Extraterritoriality Rules ,
FATCA ,
Financial Crimes ,
Foreign Corrupt Practices Act (FCPA) ,
Forex ,
France ,
Government Investigations ,
Guilty Pleas ,
Hackers ,
Imports ,
International Litigation ,
Iran ,
Legal Professional Privilege ,
Libor ,
Litigation Privilege ,
Market Manipulation ,
Money Laundering ,
Multi-Jurisdictional Litigation ,
Multinationals ,
NYDFS ,
Privileged Communication ,
Russia ,
Sanction Violations ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
SFO ,
Spoofing ,
Tax Fraud ,
Traders ,
UK ,
Unexplained Wealth Orders (UWOs) ,
United Arab Emirates (UAE) ,
Yates Memorandum
On August 13, 2018, President Donald Trump signed into law the John S. McCain National Defense Authorization Act (NDAA) for fiscal year 2019. A key focus of legislation contained in the NDAA is to protect U.S. technological...more
9/12/2018
/ CFIUS ,
China ,
Civil Monetary Penalty ,
Commerce Control List ,
Criminal Penalties ,
Department of Defense (DOD) ,
Dual Use Goods ,
ECCNs ,
Export Administration Regulations (EAR) ,
Export Control Reform (ECR) ,
Export Controls ,
Exports ,
FIRRMA ,
Foreign Investment ,
Licensing Rules ,
National Security ,
NDAA ,
Supervision and Collaboration Agreements ,
Technology Sector ,
Trump Administration
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including the use of legal holds in cross-border investigations,...more
8/29/2018
/ China ,
Civil Monetary Penalty ,
Cooperation ,
Criminal Investigations ,
Cross-Border Transactions ,
Cryptocurrency ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
Fee Reductions ,
General Data Protection Regulation (GDPR) ,
Initial Coin Offering (ICOs) ,
Personal Liability ,
Popular ,
Privileged Communication ,
Serious Fraud Office (SFO) ,
Settlement ,
Trump Administration ,
UK
In large part as a response to China’s national industrial goals and subsequent Chinese acquisitions of U.S. and European companies that are technology leaders in key industries, the U.S. government and a number of European...more
President Donald Trump’s recent executive order blocking Broadcom Limited’s acquisition of chipmaker Qualcomm, Inc. (the Order) is the latest in a series of significant actions and statements regarding the national security...more
3/20/2018
/ Acquisitions ,
Blocked Mergers ,
Broadcom ,
CFIUS ,
China ,
Foreign Investment ,
Hostile Takeover ,
Mergers ,
National Security ,
Popular ,
Qualcomm ,
Trump Administration