Popular, Sanctions

Antitrust Sanctions: The Duty to Preserve Chats

BakerHostetler on 9/12/2024

On August 5, 2024, District Judge Amit P. Mehta (U.S. District Court, District of Columbia) ruled in United States v. Google LLC that Google violated §2 of the Sherman Act by monopolizing the internet search engine market....more

Sanctions move up the agenda for lenders and borrowers

White & Case LLP on 9/5/2024

Compliance with sanctions regimes has been a priority for debt markets. Amid rising geopolitical tensions, the stakes for lenders and borrowers are higher than ever - Intensifying geopolitical tensions and the US...more

Corporate Transparency Act - Overview of Filing Requirements

Neal, Gerber & Eisenberg LLP on 8/1/2024

Background - The Corporate Transparency Act of 2019 (“CTA”) became effective on January 1, 2024. Under the CTA, all “reporting companies” must file a Beneficial Ownership Information (BOI) report with the Financial Crimes...more

U.S. Congress Mandates Wide Range Of Sanctions In Ukraine, Israel, And Taiwan Aid Bill

K2 Integrity on 5/14/2024

On 24 April 2024, President Biden signed into law H.R. 815, “Making Emergency Supplemental Appropriations for the Fiscal Year Ending September 30, 2024, and for Other Purposes” (the Act). The long-awaited piece of legislation...more

Regulatory & Risk Advisory Review: Cayman Islands – January to March 2024

Conyers on 5/1/2024

Welcome to the first instalment of 2024 of our Cayman Islands Regulatory & Risk Advisory Review. As we cover in this issue, there have been a number of updates in the first quarter of the year. Perhaps most notably is the...more

Quarterly Sanctions Update | Q1 2024

McDermott Will & Emery on 4/8/2024

The European Union and the United Kingdom continue to tighten sanctions against Russia, particularly in the wake of the second anniversary of Russia’s invasion of Ukraine and the sudden death of Russian opposition leader...more

Swiss Finance Company to Pay Almost $4 Million for Sanctions Violations

Bass, Berry & Sims PLC on 3/20/2024

On March 14, the U.S. Treasury Department, Office of Foreign Assets Control (OFAC) announced that EFG International AG (EFG), a Switzerland-based bank, had agreed to pay roughly $3.74 million to settle allegations that it had...more

Risk & Compliance as a Strategic Imperative for the Board

NAVEX on 2/20/2024

In an era marked by heightened global regulatory scrutiny and enforcement, the landscape of risk and compliance is undergoing an evolution making the strategic imperative for effective, risk-based compliance initiatives...more

FTC Complaint Against Rite Aid Signals New Paradigm for Evaluating AI Technology Use

Mintz on 1/31/2024

Late last month, the Federal Trade Commission (FTC) filed a complaint for permanent injunctive relief and sanctions against Rite Aid, alleging that the pharmacy chain’s widespread use of facial recognition technology,...more

OFAC Sanctions Sinbad.io in Continued Enforcement Efforts Against Crypto Mixing Services

Seward & Kissel LLP on 12/6/2023

Background: On Friday November 29, 2023, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Sinbad.io (“Sinbad”), alleging that the virtual currency mixer serves as a key money-laundering...more

Using Whistleblower Laws to Hold Polluters Accountable

Kohn, Kohn & Colapinto LLP on 11/16/2023

Global political and business leaders have purported ambitious climate-focused goals for the decades ahead, such as eliminating landfill waste by 2030, transitioning to 100% renewable energy use by 2035, and achieving...more

OFAC Suspends Certain U.S. Sanctions Targeting Venezuela with New and Amended General Licenses

A&O Shearman on 10/30/2023

On October 18, 2023, the United States announced the suspension of certain sanctions related to Venezuela through the issuance of new and revised general licenses. The Office of Foreign Assets Control (OFAC) of the U.S....more

Sanction Policies Can Help Drive Cybersecurity and HIPAA Compliance, OCR Says

Jackson Lewis P.C. on 10/25/2023

Many HIPAA covered entities and business associates struggle with developing and implementing a sanctions policy. What should it say, is zero-tolerance required, do we have to impose discipline in every case, etc. These are...more

Key Trade Considerations amid Middle East Unrest

Fenwick & West LLP on 10/17/2023

Following the deadly terrorist attacks on Israel by Hamas and the ensuing conflict in the region, companies with a presence in Israel and the broader Middle East are responding to the immediate needs of impacted personnel and...more

Hamas Attack on Israel: Geopolitical & Business Impacts

J.S. Held on 10/10/2023

In this article, we provide an update on the highly significant Hamas attack on Israel, and its potential wider economic and geopolitical impact on the Middle East and beyond. Israel suffered the deadliest day in its...more

U.S. Sanctions on Russia: Growing Risks for Turkish Companies

Bradley Arant Boult Cummings LLP on 9/28/2023

On Sept. 14, 2023, the U.S. government designated five Turkish companies for breaching U.S. sanctions against Russia. The designations should not have been a surprise, as Washington had been warning the Turkish government and...more

US, EU And UK Maintain Pressure Through Russia Sanctions

A&O Shearman on 9/19/2023

Over a year has now passed since Russia invaded Ukraine, and the U.S., the EU and its member states, the U.K., and many others—including Japan, Australia, New Zealand, Taiwan and Canada—continue to exert pressure on Russia...more

Friend or Foe? Legal Risks Arising From ChatGPT and Other Generative AI Software

Bailey & Glasser, LLP on 6/29/2023

Recent breakthroughs in generative artificial intelligence (AI) have captured significant media attention. Developers argue that the technology, which learns from data to produce new text, visual, or audio content based on a...more

In The Crosshairs: The Legal Industry Grapples With The Application And Ethics Of AI

Morrison & Foerster LLP - Social Media on 6/29/2023

In May 2023, Steven Schwartz of Levidow, Levidow & Oberman admitted that he used a generative AI (GAI) platform to produce six non-existent court decisions as citations during his representation in a personal injury case...more

Corruption, Crime and Compliance - “The New FCPA”: Sanctions and Export Control Enforcement and Compliance

Thomas Fox - Compliance Evangelist on 6/12/2023

Unprecedented sanctions and export control enforcement changes are imminent as the U.S. government amplifies its focus on national security and corporate compliance. In this episode of Corruption, Crime, and Compliance,...more

UPDATED Canadian Sanctions Targeting Russia, Belarus and Separatist Territories in Ukraine Expanded - May 2023

Bennett Jones LLP on 5/30/2023

On February 21, 2022, Russia formally recognized the purported independence of two regions in Eastern Ukraine, Donetsk and Luhansk. The next day it ordered Russian troops into the separatist-occupied territories, and the...more

The Trend Continues: Increased Regulatory Focus on Privacy & Cybersecurity for Private Funds

Proskauer - The Capital Commitment on 5/23/2023

Recent enforcement actions highlight the increased regulatory scrutiny that private funds may face with respect to internal cybersecurity protocols and responses to cyber-crimes and cyber incidents under new and updated...more

Corruption, Crime, & Compliance - Five Steps to Enhance Your Sanctions Compliance Program

Thomas Fox - Compliance Evangelist on 5/22/2023

Is your business prepared to effectively manage and mitigate the risks associated with sanctions compliance in today’s global economic landscape? In today’s increasingly interconnected global economy, sanctions compliance is...more

Russian Countersanctions: New Measures Targeting Foreign Investors in Russia

A&O Shearman on 5/12/2023

Fourteen months into the Ukraine war, the Russian Government has introduced new countersanctions targeting foreign investors in Russia. The latest measures require businesses from “unfriendly” countries to make a “voluntary...more

Corruption, Crime and Compliance - Deep Dive Into Wells Fargo’s $30 Million OFAC Settlement

Thomas Fox - Compliance Evangelist on 4/10/2023

Wells Fargo has settled with OFAC for $30 million for sanctions violations that occurred for seven years, from 2008 to 2015. The violations stemmed from its acquisition of Wachovia Bank, which had a trade relationship with a...more

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