President Biden recently issued a highly anticipated executive order that effectively replaces an existing ban on U.S. persons trading in securities of companies determined to be linked to the Chinese military. Effective August 2, 2021, U.S. persons are prohibited from purchasing (and, as of June 3, 2022, selling) certain publicly traded securities of companies listed in a new “Chinese Military-Industrial Complex Company” (CMIC) list that includes companies in a variety of sectors.
Please click here to read the full alert memorandum.