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CFIUS's Failure to Approve Chinese Investment in Money Transfer Services Company Indicates Higher Hurdles for Chinese Investment...

On January 2, 2018, MoneyGram International Inc. and Ant Financial Services Group announced that they had terminated their Amended Merger Agreement after they were unable to obtain approval of the transaction from the...more

Changes Possibly Coming to CFIUS

Change may be coming to the Committee on Foreign Investment in the United States (CFIUS), but any changes to the jurisdiction or process used by the multi-agency committee that reviews foreign investments in U.S. business for...more

Despite Revocation of Sudanese Sanctions, Considerations Remain for Those Dealing With Sudan (IRB No. 568)

Effective October 12, 2017, the U.S. Government has revoked its sanctions against Sudan that were established in Executive Orders 13067 and 13412 and removed a number of Sudanese entities from the SDN List. The revocation...more

President Prohibits Chinese Investment in U.S. Semiconductor Company Following Recommendation from CFIUS

On September 13, 2017, President Trump issued an Executive Order citing unresolved national security concerns in prohibiting the $1.3 billion acquisition of a publicly traded semiconductor manufacturer by a group of investors...more

The New Sanctions Law: Does It Really Change Much? (IRB No. 564)

President Trump signed into law the Countering America’s Adversaries Through Sanctions Act (the CAATS Act) on August 2, 2017. The CAATS Act impacts sanctions related to Russia, Iran and North Korea....more

Change is Coming: China Proposes New Export Control Law (IRB No. 563)

Export control appears to be an overlooked area in China for years. Up until now in China, more focus was placed on the import side of international trade, which provides around one-third of the total revenue for the Chinese...more

Boycott of Qatar by Arab Countries Can Implicate U.S. Anti-Boycott Rules

Saudi Arabia, Bahrain, and the United Arab Emirates have imposed a boycott on Qatar, allegedly because of remarks that appeared on the Qatar News Agency’s website where Qatar emir Sheikh Tamim bin Hamad Al Thani called Iran...more

President Applies Authority under CFIUS to Prohibit Acquisition of the U.S. Business of A German Technology Company by A...

As we discussed in a recent alert, the Committee on Foreign Investment in the United States (CFIUS) refused to approve the proposed $710 million acquisition of Aixtron GE, a German-based technology company, by Grand Chip...more

Even Merging Parties Found Largely Overseas May be Subject to the Broad Reach of CFIUS Jurisdiction

According to a press release issued on November 21, 2016, the Committee on Foreign Investments in the United States (CFIUS) refused to approve the proposed $710 million acquisition of technology company Aixtron GE of Germany...more

New Administration May Change Landscape of U.S. Trade and Export Policy (IRB No. 560)

Although it is impossible to tell whether the new Trump administration will follow through on its campaign promises to alter the landscape of U.S. trade with foreign countries, businesses should realize that the new...more

BIS Ends Encryption Registration Requirement and Announces Other Amendments to Encryption Rules (IRB No. 550)

On September 21, 2016, the Bureau of Industry and Security (“BIS”) announced various and wide-ranging amendments to the encryption rules in the Export Administration Regulations (“EAR”). Some of the changes in the amended...more

9/30/2016  /  Amended Regulation , BIS , EAR , Encryption

The Reef of Hanjin’s Woe: Will Chapter 15 Unlash Hanjin’s Sailors from the Mast?

On September 9, 2016, Hanjin Shipping Co. won a ruling protecting its assets in the U.S. against creditors, while the shipping line proceeds with its reorganization in South Korea. Hanjin filed for relief under Chapter 15 of...more

Impact of Brexit on Existing US Trade Relationships May Be Limited (IRB No. 556)

It appears that the United Kingdom will exit the European Union as a result of the vote taken in the so-called Brexit referendum. Although the full impact of Brexit is hard to predict, it appears that its effects on United...more

North Korea Designation Targets Chinese Banks (IRB No. 554)

On May 25, the U.S. Treasury Department issued a finding designating North Korea as a jurisdiction of “primary money laundering concern.” On the same date, Treasury, through FinCEN, issued a notice of proposed rulemaking...more

Burma Sanctions Continue to Sunset (IRB No. 553)

On May 17, 2016, the Office of Foreign Assets Control ("OFAC") amended the Burmese Sanctions Regulations to broaden the scope of permissible trade with Burma. The Burma regulations, which have been amended piecemeal rather...more

Unintended Consequences of Sanctions Intensify Syrian Refugee Crisis

Last week I wrote about one of the unintended consequences of OFAC’s “scorched earth” enforcement policy against banks and payment processors, namely, the blocking of funds transfers where the memo or the transferee name...more

BEA Filings: Is another report due this year? (IRB No. 552)

At this time last year, we issued alerts advising U.S. companies of the approach of a recently imposed deadline to file reports with the Bureau of Economic Analysis (“BEA”), a little known agency within the Department of...more

OFAC Issues New General License for Some Aircraft Negotiations with Iran (IRB No. 551)

On March 24, 2016, the Office of Foreign Assets Control (“OFAC”) published Iran General License I which is designed to permit U.S. persons seeking to sell civil passenger aircraft and parts to Iran to negotiate executory...more

Commerce Department Puts China Telecom Giant ZTE on Export Blacklist

On March 8, 2016, a notice appeared in the Federal Register indicating that Chinese telecom giant ZTE, effective immediately, has been placed on the Department of Commerce’s "Entity List." This means that nothing can be...more

CFIUS Continues its Focus on China and “Critical Technologies”

The recently published annual report of the Committee on Foreign Investment in the United States (“CFIUS” or “Committee”) for calendar year 2014 makes clear that parties to potential foreign investment in the United States...more

Updates to the Department of Defense’s New Cyber Security Regulation

At the end of 2015, the US Department of Defense (DoD) issued a second interim rule, effective immediately, modifying cyber security control requirements it issued earlier in 2015. In particular, this second interim rule (1)...more

How the OFAC Stole Christmas

A spokesman for the Treasury Department’s Office of Foreign Assets Control (“OFAC”) told Export Law Blog this morning that discussions between OFAC and the North Pole over Santa Claus’s Christmas Eve itinerary had once again...more

12/28/2015  /  Cuba , Export Controls , OFAC , Sanctions

An Indictment That Doesn’t Add Up

The recent indictment of Brian Thomas Platt, a federally-registered firearms manufacturer, makes me wonder whether there is so little crime in Maryland that prosecutors have the time to indict an individual for exporting a...more

Look Under Your Tree for a Gift From DDTC. Ho Ho Ho!

If you’ve had outbound goods seized because a certain big name shipping company filed your AES on a shipment before you lodged the license with Customs, raise your hand. I thought so. A bunch of you have had that happen....more

12/22/2015  /  Customs , DDTC , Exports

Let My Field Trips Go

A Lansing high school field trip to Michigan State University’s National Superconducting Cyclotron Laboratory was just cancelled and the school is blaming this on the Bureau of Industry and Security. According to the school,...more

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