International

Welcome to the February 2019 issue of our global newsletter, Israel Group News. DLA Piper’s Israel Group delivers all the benefits of a global law firm through a team of lawyers committed to the Israel market. Israel Group News aims to keep you informed about current developments, hot topics for your consideration and DLA Piper activities that focus on bringing this dynamic ecosystem to your doorstep. We hope you enjoy. Click here to read more.
The Consolidated Appropriations Act of 2019 was signed into law on Friday, February 15, 2019, so the potential for another shutdown was averted, but there was a hidden gem buried in a related document. This new law contains a specific appropriation for the U.S. Trade Representative’s office which reads: “For necessary expenses of the Office of the United States Trade Representative, … $53,000,000, …” Of particular interest to international traders is an interpretive statement which…
Amending a major term (position/pay) of your China employee’s employment contract involves considerable risk and therefore requires substantial care. Let’s consider a fairly recent case in Jiangsu province. The employee was hired as a senior engineer for product design and development. The employee made roughly RMB 7,000 per month before leaving his job. Several years into his employment, the employer essentially suspended the employee from his original position as the company was going through structural…
On January 28, 2019, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) added Petróleos de Venezuela, S.A., Venezuela’s state-owned oil company and a primary source of the country’s income and foreign currency, to its list of Specially Designated Nationals and Blocked Persons (the “SDN List”). Norton Rose Fulbright has prepared a Legal Update on this development and its implications for US and non-US entities. A 2017 Norton Rose Fulbright briefing on previously…
USCIS announced on Friday, February 15,, 2019, that it will resume premium processing on Tuesday, February 19, 2019 for H-1B petitions filed prior to December 21, 2018.  This follows up on the USCIS announcement at the end of January that it would resume premium processing for cap-subject petitions that were filed on or about April 1, 2018. This means that premium processing can now be requested for petitions filed before December 21, 2018 seeking: H-1B…
On February 13, the European Commission adopted a new list of “high-risk” jurisdictions that the Commission identified as posing significant threats to the European Union’s financial system as a result of strategic deficiencies in their anti-money laundering and counter-terrorism financing (AML/CFT) frameworks. In addition to countries like North Korea, Iran, and Syria, the list also includes four US territories.  In response, the US Department of Treasury expressed “significant concerns about the substance of the list,”…
On February 8, 2019, SEC Commissioner Hester Peirce delivered a speech at the symposium ”Protecting the Public While Fostering Innovation and Entrepreneurship: First Principles for Optimal Regulation.” Her remarks, entitled “Regulation: A View from Inside the Machine,” provide insight into how SEC regulators currently view certain technological innovations and how they interpret and apply the Howey test as to when something is an “investment contract,” and therefore a security, for purposes of the…
Summary Next week will be a committee week in the European Parliament.  Members of the European Parliament (“MEPs”) are expected to vote and debate on interesting matters. On Tuesday, the Committee on International Trade (“INTA”) will vote on Recommendations for Opening of Trade Negotiations between the EU and the U.S.  In the draft motion for a resolution, prepared by MEP Bernd Lange (S&D, DE), it is recommended not to engage in trade negotiations since it…
On February 14, 2019, the Office of Foreign Assets Control (OFAC) announced it had assessed a civil monetary penalty of over $5.5 million dollars against AppliChem GmbH (AppliChem) of Darmstadt, Germany (a company that manufactures chemicals and reagents for the pharmaceutical and chemical industries) for 304 violations of the Cuban Assets Control Regulations, 31 C.F.R. part 515 (CACR). Specifically, OFAC determined that between May 2012 and February 2016, after it had been purchased by…

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