News & Analysis as of

Financial Institutions Cuban Assets Control Regulations (CACR)

Skadden, Arps, Slate, Meagher & Flom LLP

"OFAC and BIS Implement Additional Amendments in Support of Cuba Policy Shift"

On October 14, 2016, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Department of Commerce’s Bureau of Industry and Security (BIS) announced further amendments to ease U.S. sanctions and...more

The Volkov Law Group

Sanctions Updates: Iran, Myanmar (Burma) and Cuba

The Volkov Law Group on

With the rise of OFAC Sanctions enforcement and compliance issues, companies have to devote significant resources to following changes in OFAC Sanctions. Over the last few years, the US government has significantly altered...more

Troutman Pepper

New Economic Opportunities with Cuba Present Financial Rewards Along with Associated Compliance Challenges

Troutman Pepper on

The opening of Cuba to greater commercial and financial activity offers many possibilities for U.S. financial institutions but, with those possibilities, comes a responsibility to meet the complex compliance challenges that...more

Pillsbury Winthrop Shaw Pittman LLP

Additional Steps to Ease U.S. Sanctions and Export Controls for Cuba prior to Obama Visit

In advance of President Obama’s highly publicized trip to Cuba, the Administration took additional steps to ease restrictions on trade and travel with Cuba. These changes to the Cuban Assets Control Regulations (CACR) and...more

Dorsey & Whitney LLP

Another New Day in Cuba: The Obama Administration Further Loosens U.S. Sanctions

Dorsey & Whitney LLP on

On March 16, 2016, the Obama Administration further loosened sanctions on Cuba in accordance with President Obama’s policy previously announced on December 17, 2014, and partially implemented thus far, to engage and empower...more

Skadden, Arps, Slate, Meagher & Flom LLP

"OFAC and BIS Further Ease Cuba Restrictions"

On September 21, 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) amended their respective Cuba regulations to...more

Cozen O'Connor

U.S. Departments of the Treasury and Commerce Announce Additional Revisions to Cuba Sanctions Regulations

Cozen O'Connor on

Last week, the Department of the Treasury and the Department of Commerce announced additional revisions to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR), building off the changes put...more

Goodwin

Financial Services Weekly News - September 2015 #4

Goodwin on

Regulatory Developments - NYDFS Announces Approval of First BitLicense Application from a Virtual Currency Firm: The New York State Department of Financial Services (NYDFS) announced Sept. 22 that it has approved...more

Akin Gump Strauss Hauer & Feld LLP

Obama Administration Further Eases Restrictions to Aid Implementation of Cuba Policy

On Monday, September 21, 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) implemented amendments to the Cuban...more

Carlton Fields

Cuba Sanctions Relief: The Knot Further Loosens

Carlton Fields on

Effective September 21, the U.S. Department of Treasury amended its Cuban Assets Control Regulations (CACR), providing further Cuba sanctions relief. In a coordinated action, the U.S. Department of Commerce simultaneously...more

Morrison & Foerster LLP

Shifting Course: Expanding the Scope of Permissible Cuba Transactions

The Treasury Department’s Office of Foreign Assets Control (“OFAC”) has issued its first set of amendments to the Cuban Assets Control Regulations (“CACR”) to begin implementing a major policy shift in United States–Cuba...more

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