U.S. Treasury Department Issues Proposed Rule to Limit Certain Outbound Investments into Critical Technologies in China
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The Corporate Transparency Act: It’s Time to Prepare for the January 1, 2025 Deadline
Client UpdatesUSTR Issues Details on New Section 301 Tariff Increases on Chinese Goods
Client UpdatesInternational Trade Update
Inflation Reduction Act Guidance: IRS and Treasury Release Additional Guidance on the Domestic Content Bonus Credit, Including a New Elective Safe Harbor for Solar, Onshore Wind, and Battery Storage
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Biden Administration Increases Tariffs on Chinese Goods, Including Electric Vehicles, Batteries, and Solar Cells
Client UpdatesInternational Trade Issues Update
Commerce Department Expands End-User Controls Against Certain Specially Designated Nationals
Client UpdatesU.S. Government Issues New Sanctions Designations on the Second Anniversary of the Russia Ukraine War
Client UpdatesNew U.S. Export Controls on Semiconductors Take Effect
Client UpdatesInternational Trade Update
New Reporting Regime under the Corporate Transparency Act Set to Take Effect on January 1, 2024
Client UpdatesBiden Administration Takes First Step in Regulating U.S. Outbound Investments into China
Client UpdatesInternational Trade Update
Significant Updates to DOE LPO Clean Energy Finance Programs Under Sections 1703 and 1706
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Inflation Reduction Act Guidance: IRS and Treasury Release Guidance on the Domestic Content Bonus Credit
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New Executive Order Details National Security Factors to Be Considered by the Committee on Foreign Investment in the United States
External ArticlePratt's Privacy & Cybersecurity Law Report
Intellectual Property Report
Client UpdatesNew Executive Order Details CFIUS National Security Factors
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United States Challenges Mexico's Energy Policies Under the USMCA
Client UpdatesGlobal Projects Update
U.S. Treasury Imposes Additional Financial Sanctions in Response to Russian Actions Involving Ukraine
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U.S. Imposes Targeted Sanctions in Response to Russian Actions in Donetsk and Luhansk Regions of Ukraine
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ICLG Foreign Direct Investment Regimes 2022
External ArticleFinancial Services Provider Settles with OFAC for Apparent U.S. Sanctions Violations Associated with Processing for Online Payments
Client UpdatesOn July 23, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced the entry into a $1,400,301.40 settlement with Payoneer, Inc. (“Payoneer”), a global provider of online payment distribution solutions headquartered in New York, for over 2,200 apparent violations of multiple U.S. sanctions programs.
U.S. Senate Passes Bill to Ban All Products from Xinjiang
Client UpdatesWhite House Announces Suspension of Imports of Certain Polysilicon Products Made with Forced Labor in Xinjiang
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House Members Call on CBP to Stop Imports of Polysilicon Products Made with Forced Labor in Xinjiang
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Product Misclassification Results in Laser Manufacturer Settling with BIS for Apparent Export Controls Violations
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SAP Admits to Thousands of Illegal Exports to Iran under NPA: Lessons Learned
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Lack of Familiarity with US Sanctions Results in Steel Manufacturer Settling with OFAC for Apparent Violations
Client UpdatesOn April 19, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced the entry into a $435,003 settlement with Alliance Steel, Inc. (“Alliance”), a fully integrated manufacturer of metal building systems, structural steel, and components headquartered in Oklahoma City, Oklahoma, for 61 apparent violations of the Iranian Transactions and Sanctions Regulations (“ITSR”), mainly resulting from the Company’s lack of understanding as to the application of U.S. sanctions laws to its isolated international activity.
U.S. Customs Expands Enforcement Against Forced Labor Imports with Seizure of Malaysian PPE
Client UpdatesOn March 29, U.S. Customs and Border Protection (“CBP”) announced that it will begin seizing imports of certain disposable gloves manufactured by Top Glove Corp. Bhd. (“Top Glove”), the world’s leading producer of disposable rubber gloves based in Malaysia, upon determining that sufficient evidence exists to support a finding that Top Glove is manufacturing the products with the use of convict, forced, or indentured labor.1
Incorrect Export Licensing Determinations Result in Wireless Telecommunications Equipment Manufacturer Settling with BIS for Apparent Export Control Violations
Client UpdatesOn March 19, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) announced the entry into a $122,000 settlement with Comtech XiCom Technology, Inc. (“Comtech XiCom”), a leading supplier of high power amplifiers for satellite communications based in Santa Clara, CA, for three apparent violations of the Export Administration Regulations (“EAR”), caused by Comtech XiCom’s mistaken belief that certain exports could be made without BIS license or authorization.
Failure to Address "Red Flags" Results in U.S. Manufacturer Settling with OFAC for Apparent U.S. Sanctions Violations
Client UpdatesOn March 16, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced the entry into a $216,464 settlement with UniControl, Inc. (“UniControl”), a process controls and instrumentation manufacturer headquartered in Cleveland, Ohio, for 21 apparent violations of the Iranian Transactions and Sanctions Regulations (“ITSR”), mostly resulting from UniControl’s failure to address several warning signs that shipments may be intended specifically for supply, transshipment, or reexport to Iran.(1)
Digital Payment Service Provider Settles with OFAC for Apparent U.S. Sanctions Violations Associated with Digital Currency Transactions
Client UpdatesInternational Trade Update
SEC Adopts New Final Rules on Disclosure of Governmental Payments by Certain Oil, Natural Gas and Mining Companies
Client UpdatesCorporate Update
Considerations for a Biden Administration – Trade
VideoForeign Direct Investment Regimes 2021
External ArticleGlobal Legal Group - ICLG.com
Treasury Issues Proposed Rule Expanding Reporting for Critical Technology Transactions to CFIUS
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BIS Issues Export Controls on Emerging Technologies Targeting Geospatial Imagery Software
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United States Challenges Mexico's Energy Policies Under the USMCA
Client UpdatesInternational Trade Alert