The UK Digital Markets, Competition and Consumers Act (DMCCA) received Royal Assent on May 24, 2024, after a series of amendments ping-ponged back and forth between the House of Commons and The House of Lords. It is a major piece of
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DOJ’s National Security Division’s First-Ever Declination Under Its Voluntary Self-Disclosure Policy Raises Critical Questions
On May 22, 2024, the US Department of Justice’s National Security Division (“NSD”) announced its first-ever corporate declination under the NSD’s Export Control and Sanctions Enforcement Policy for Business Organizations (the “Policy”) in connection with a voluntary self-disclosure by Massachusetts…
The Role of Business Users Under the DMA
By Robert Klotz
The European Commission (Commission) keeps stressing the important role of “business users” under the Digital Markets Act (DMA).[1] Business users are at the core of the DMA, with its Article 1(1) stating: “The purpose of this Regulation is…
UK Issues Guidance on Oil Tanker Sales to Third Countries under the Russia Sanctions Regime
On May 21, 2024, the UK Department for Business & Trade’s Export Control Joint Unit (“ECJU”) published notice to exporters 2024/11 regarding its new guidance on the sale of oil tankers to countries other than the United Kingdom, Isle of…
USTR Publishes Details of Section 301 Tariff Increases, Requests Comments
By Judy Wang & Eric Emerson
On May 22, 2024, the United States Trade Representative (“USTR”) published details regarding proposed increases in Section 301 tariffs on imports from China following the results of its statutorily required four-year review of the Section 301 tariff actions. (For additional…
Clarity on Reverse Payments
The Second Circuit, for the first time, has addressed the scope of the Supreme Court’s decision in FTC v. Actavis, 570 U.S. 136 (2013), regarding the use of allegedly anticompetitive reverse payments by a brand drug manufacturer to settle patent…
UK Imposes New Trade Sanctions on Belarus
On May 15, 2024, the Sanctions (EU Exit) (Miscellaneous Amendments and Revocations) Regulations 2024 was laid before parliament (“Regulations”). Among other things, the Regulations included a package of new trade sanctions measures under the UK’s Belarus sanctions regime targeting aluminum,…
A Round-Up of Recent Changes to OFSI Financial Sanctions Guidance
This month has seen HM Treasury’s Office of Financial Sanctions Implementation (“OFSI”) roll out a new FAQ guidance format, as well as update a number of its existing guidance documents. In particular, OFSI has introduced changes to its enforcement and…
Judge Seibel: 56.1 Response is Not the Occasion for “Context” or “Semantic Quibbles”
On Monday, Judge Seibel ordered a plaintiff to re-submit an amended 56.1 statement response to comply with the Local Rules. Judge Seibel explained that the response, at 356 pages, was too long and argumentative, did not properly controvert certain of…
OFAC Amends Reporting Requirements – Important Considerations for Compliance
On May 10, 2024, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued an Interim Final Rule, effective August 8, 2024 (the “IFR”), that clarifies the scope of OFAC’s rejected transaction reporting requirement, and introduces…