On January 10, 2024, the Securities and Exchange Commission (“SEC” or the “Commission”) approved the listing and trading of eleven spot bitcoin exchange traded products (“ETPs”). [1] The Commission declared effective the registration statements for ten of the ETPs on
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The Top Ten Asia-Pacific FCPA Enforcement Actions of 2023
Please check out our most recent publication in our International Compliance Blog.
The Top Ten Asia-Pacific FCPA Enforcement Actions of 2023
Enforcement of the Foreign Corrupt Practices Act (FCPA) in 2023 has been described as a lull, a continued downward trend, or a slump, but that may be “bullsh*t,” to quote an FCPA academic. However they are described, the 2023 FCPA…
New Secondary Sanctions Target Non-US Banks That Engage in Transactions with Russia’s Military-Industrial Base
On December 22, 2023, President Biden issued a new Executive Order (“EO”) 14114 “Taking Additional Steps With Respect to the Russian Federation’s Harmful Activities” which amended EOs 14024 and 14068. These amendments introduce the authority to impose secondary sanctions with…
UK’s Department for Business & Trade Issues New General Trade Licence for Third-Country Processed Iron and Steel Measures
On December 11, 2023, the UK’s Department for Business & Trade (“DBT”) published a General Trade Licence of indefinite duration concerning measures related to third-country processed iron and steel, pursuant to The Russia (Sanctions) (EU Exit) Regulations 2019 (the “Russia…
DOJ and FTC Finalize Merger Guidelines
On December 18, 2023, the DOJ and FTC jointly released the final 2023 Merger Guidelines that describe how the agencies will evaluate proposed merger and acquisition transactions. Despite significant editing, and calls from industry to moderate the guidelines, the agencies…
UK Issues New Package of Russia Financial and Trade Sanctions
On December 14, 2023, the UK government issued new Russia sanctions legislation under The Russia (Sanctions) (EU Exit) (Amendment) (No.4) Regulations 2023 (“Amendment No. 4”) and The Russia (Sanctions) (EU Exit) (Amendment) (No.5) Regulations 2023 (“Amendment No. 5”). The new…
New UK Iran Sanctions Regime Comes into Force
On December 14, 2023, a new UK Iran sanctions regime originally announced in July 2023 came into effect as The Iran (Sanctions) Regulations 2023 (“New Iran Regulations”) and The Iran (Human Rights) (EU Exit) Regulations 2019 (“Iran Human Rights Regulations”)…
UK Publishes Red Alert on Sanctions Evasion, Makes New Designations, and Announces the Creation of Trade Sanctions Civil Enforcement Body
On December 6, 2023, the UK’s National Economic Crime Centre (“NECC”) issued a red alert concerning the export of high-risk goods that Russia is using on the battlefield in Ukraine. The red alert outlines sanctions evasion red flags for the…
Proposed Rule Subjects Digital Payments to CFPB Oversight
On November 7, 2023, the Consumer Financial Protection Bureau (CFPB) announced a notice of proposed rulemaking (NPRM) that would establish CFPB supervisory authority over certain nonbank companies “participating in a market for ‘general-use digital consumer payment applications.'”
Overview
The CFPB…