News & Analysis as of

Sanctions International Emergency Economic Powers Act (IEEPA)

White & Case LLP

Sanctions move up the agenda for lenders and borrowers

White & Case LLP on

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

Sheppard Mullin Richter & Hampton LLP

Say SoL Long to Short Limits: Doubling Down on the Sanctions Statute of Limitations

Effective April 24, the statute of limitations (“SoL”) under the International Emergency Economic Powers Act (“IEEPA”) and the Trading with the Enemy Act (“TWEA”) has been extended from five to ten years. It would have been...more

Estlund Law, P.A.

Estlund Law Obtains A Dismissal Of All Charges For Client Charged With Violating Iranian Sanctions Regulations Under The...

Estlund Law, P.A. on

Miami, Florida, U.S.A.- Estlund Law client Dr. Faezeh Faghihi has spent her life in the service of others as a physician in her native Iran and in the United States, her adopted home country. Trained as a gynecologist, she...more

Dechert LLP

OFAC Sanctions Virtual Currency Mixer Tornado Cash

Dechert LLP on

The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) on August 8, 2022, imposed sanctions against the popular decentralized virtual currency mixer Tornado Cash alleging that it has been used to launder...more

Bradley Arant Boult Cummings LLP

Second Circuit Broadly Interprets Exception to Immunity for Foreign Entities Under the Foreign Sovereign Immunities Act

The Second Circuit last week in United States v. Halkbank significantly limited the immunity granted under the Foreign Sovereign Immunities Act (FSIA) by giving a broad interpretation to the act’s “commercial activity”...more

Orrick, Herrington & Sutcliffe LLP

Treasury Actions to Counter Ransomware

On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced several actions focused on disrupting criminal digital finance infrastructure, including virtual currency...more

Morgan Lewis

OFAC Issues Updated Advisory on Sanctions Risks for Facilitating Ransomware Payments

Morgan Lewis on

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently issued an “Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments.” This advisory continues prior advisory...more

Adams and Reese LLP

The Department of Treasury Issues Guidance Regarding Sanctions Risks Inherent to Facilitating Ransomware Payments

Adams and Reese LLP on

On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an updated advisory outlining the risks involved with facilitating ransom payments to malicious actors conducting...more

Morrison & Foerster LLP

OFAC Issues Advisory Highlighting Art Trade No “Goghs”

Morrison & Foerster LLP on

On October 30, 2020, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) published an advisory highlighting potential sanctions risks arising from dealings in “high-value artwork” (with “particular...more

Foley Hoag LLP

First A Ransomware Attack, Now Sanctions? New OFAC Advisory Warns of Sanctions Risks for Facilitating Ransomware Payments

Foley Hoag LLP on

On October 1, 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released an advisory regarding potential sanctions risks related to facilitating ransomware payments... OFAC is the federal...more

Wilson Sonsini Goodrich & Rosati

As the App World Turns: Halt on Implementation of Commerce Prohibitions Regarding TikTok and WeChat

This past weekend saw a halt to the anticipated September 20 implementation of broad prohibitions published on September 18 by the U.S. Department of Commerce (Commerce) regarding TikTok and WeChat mobile applications. No...more

Wilson Sonsini Goodrich & Rosati

U.S. Department of Commerce Publishes Transactions with ByteDance and Tencent That Are Prohibited Due to National Security...

On September 18, 2020, the U.S. Department of Commerce issued two orders identifying the specific transactions related to the WeChat and TikTok mobile applications ("Orders") that are prohibited pursuant to Executive Orders...more

Alston & Bird

Uncertainty Surrounds Forthcoming Commerce Department Action on TikTok & WeChat “Bans”

Alston & Bird on

As the countdown continues to September 20, our International Trade & Regulatory Group examines the ambiguities underlying the unprecedented Executive Orders purporting to ban the use of TikTok and WeChat, questions that may...more

Pillsbury Winthrop Shaw Pittman LLP

U.S. Authorizes Sanctions and Restricts Trade with Hong Kong in Response to China’s New National Security Law

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

Ballard Spahr LLP

Lessons in Civil Forfeiture and Attachment: U.S. May Seize 650 Fifth Avenue

Ballard Spahr LLP on

On June 29, dual trial verdicts in the Southern District of New York paved the way for the government to seize 650 Fifth Avenue, a 36-story building in Manhattan valued at up to $1 billion (“the Property”). The defendants,...more

Kelley Drye & Warren LLP

OFAC Increases Civil Monetary Penalties

On February 10, 2017, the U.S. Treasury Department announced an increase in civil monetary penalties across a number of Treasury offices, including the Office of Foreign Assets Control (OFAC). Understanding the potential...more

Morgan Lewis

Legal Bases for Iran Sanctions, Cuba Sanctions, and NAFTA

Morgan Lewis on

How easily can the Trump administration change the status quo? The International Emergency Economic Powers Act (IEEPA), 50 U.S.C §§1701-1707 enacted October 28, 1977, authorizes the US president to broadly regulate...more

King & Spalding

Obama Renews Cyber Sanctions Power

King & Spalding on

On April 1st of last year, President Obama, by Executive Order 13694, declared a national emergency pursuant to the International Emergency Economic Powers Act to “deal with the unusual and extraordinary threat to the...more

Carlton Fields

Anti-Money Laundering Trends: Facts, Findings, and Lessons Learned

Carlton Fields on

Increased anti-money laundering (AML) regulation enforcement by federal and state agencies in recent months should have financial institutions across the country reviewing and strengthening their in-house AML policies and...more

Polsinelli

Polsinelli Podcast - An International Trade Issue That May Impact Your Business

Polsinelli on

There is a key new development for US companies and individuals dealing in international markets. The Obama Administration issued a new Executive Order that will subject certain individuals and entities engaging in so-called...more

Morrison & Foerster LLP

Cyber Sanctions and National Security

In response to the growing cyber security threats from outside of the United States, the U.S. Government has added an entire new category of sanctioned individuals and organizations to its list of Specially Designated...more

Dechert LLP

U.S. Government Announces Significant Sanctions Enforcement Actions Against Schlumberger and PayPal

Dechert LLP on

The U.S. Government announced two major sanctions enforcement actions this week that reinforce the compliance challenges faced by both U.S. companies with international activities and non-U.S. companies subject to U.S....more

Akerman LLP

Recent Trends in DOJ Investigations Against Major Financial Institutions Involving U.S. Economic Sanctions

Akerman LLP on

With the imposition of billion-dollar fines against large financial institutions, the U.S. Department of Justice ("DOJ") is focusing on banks for not only failing to comply with federal laws, but also for willfully violating...more

Dechert LLP

BNP Paribas Agrees to Record Penalty for Violating US Sanctions Laws

Dechert LLP on

On June 30, 2014, BNP Paribas SA (“BNPP”), the largest bank in France, pled guilty to conspiring to violate U.S. sanctions laws and agreed to pay a total of nearly $8.9 billion in criminal forfeiture and penalties to the U.S....more

Ballard Spahr LLP

Record $1.92 Billion in Fines and Penalties Levied against HSBC

Ballard Spahr LLP on

HSBC Holdings, London, and two of its U.S. subsidiaries have been ordered to pay a record $1.92 billion in fines and penalties for anti-money laundering (AML) and Office of Foreign Assets Control (OFAC) violations....more

25 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide