On April 15, 2024, the U.S. Treasury Department (Treasury), as the Chair of the Committee on Foreign Investment in the United States (CFIUS or the Committee), published a notice of proposed rulemaking (NPRM) “to enhance certain CFIUS procedures and sharpen
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OFSI Issues Best Practices Guidance on Maritime Sector Financial Sanctions Compliance
On April 2, 2024, HM Treasury’s Office of Financial Sanctions Implementation (“OFSI”) published a blog post addressing financial sanctions compliance in the maritime sector. Maritime businesses currently are a particular area of focus for UK sanctions regulators and law enforcement
Avoid Submitting Misleading or Incorrect Information During a Merger Review Process or Face an Investigation Even After the Notification Is Withdrawn
In merger procedures, it is a fundamental requirement for parties to provide accurate and complete information to the European Commission as it forms the basis of the Commission’s assessment of mergers. Under the EU Merger Regulation (EUMR), the European Commission
Export Controls and Sanctions Converge: New BIS Restrictions on SDNs
On March 21, 2024, the Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a final rule under the U.S. Export Administration Regulations (“EAR”) that imposes new export controls on certain individuals and entities identified on the U.S. Department
Federal Court Finds Corporate Transparency Act Unconstitutional: Navigating Implications for Reporting Companies
On March 1, 2024, the federal district court in the Northern District of Alabama declared in the case of National Small Business United v. Yellen that the Corporate Transparency Act (“CTA”) exceeds the Constitution’s limits on Congress’s power. The court
Biden Administration to Implement New National Security Rules Targeting Personal Data
On February 28, 2024, the Biden administration announced the creation of a new national security regulatory regime that will prohibit or restrict certain transactions involving bulk sensitive US personal data or government-related data and specified “countries of concern.” The Biden
The EU’s New Market Definition Notice
After a lengthy period of consultation, the European Commission has adopted a new Notice (‘Notice’) on the definition of the relevant market for purposes of EU competition law. The Notice comes on the heels of a significant period of updating
In First of Its Kind Action, Commerce Moves to Regulate Foreign Tech in Vehicles
In a first of its kind action, the US Department of Commerce has begun a rulemaking process to prohibit or impose conditions on certain transactions involving foreign technology used in so-called “connected vehicles” or “CVs,” as defined below for automotive
Disruptive Technology Strike Force: Year in Review
On February 16, 2023, almost one year after the onset of Russia’s full-scale invasion of Ukraine and among increasing scrutiny of broader geopolitical threats to US supply chains, the US Department of Commerce’s Bureau of Industry and Security (BIS) and
Community Renewable Generators: Wholesale Power Sales Versus Net Energy Metering
A Proposed Decision issued by Administrative Law Judges Debbie Chiv and Kelly A. Hyme of the Public Utilities Commission of California rejects a fundamental tenet of many community renewable (CR) programs. That tenet is that wholesale power sales can be