- New law could penalize companies for complying with U.S. sanctions.
- Penalties include designation to China’s new “Unreliable Entity” list.
- Statements against the new laws could also be penalized, restricting the capacity of counsel to advise freely on compliance with U.S.
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On June 9, 2021, President Biden signed an Executive Order (“EO”) revoking Trump’s orders on TikTok and WeChat. In their stead, President Biden’s EO subjects software applications controlled or owned by “foreign adversaries” (i.e., China, Cuba, Iran, North Korea, Russia,…
Continue Reading Beyond TikTok and WeChat: How Biden’s New EO Could Impact Foreign-Owned Apps
- U.S. prohibits investments in 59 Chinese Military Industrial Companies (NS-CMIC)
- The prohibition forms part of a larger U.S.-China confrontation that has implications across finance, industry, and even academia.
- Companies need to understand the geopolitical forces behind trade relations
Last week, on June 3, 2021, President Biden issued an Executive Order (“E.O.”) prohibiting U.S. investments in designated Chinese companies deemed to undermine “the security or democratic values of the United States and [its] allies” (see here). The E.O.…
Continue Reading President Biden Issues a New…ish Ban on Certain Chinese Investments
In May 2018 the United States announced the reinstitution of sanctions against Iran that had previously been lifted pursuant to the Joint Comprehensive Plan Action (“JCPOA”).…
Continue Reading The EU – U.S. Sanctions Dilemma: The Advocate General of the European Court of Justice Weighs in
A new framework for foreign direct investments in the United Kingdom
- The United Kingdom Government has adopted a CFIUS-style National Security and Investment Act (“the Act”).
- The new law takes effect in later in 2021, but UK Government may
In August 2020, we wrote a blog post about the adoption by the European Commission (“Commission”) of a White Paper on Foreign Subsidies. On 5 May 2021, the Commission adopted a proposal for a Regulation on foreign subsidies distorting the…
Continue Reading The European Commission Adopts a Proposal for a Regulation on Foreign Subsidies Distorting the Internal Market
On May 10, 2021, the EU adopted its new, revised version of Regulation (EC) No 428/2009 (the “Regulation”). It is widely acknowledged to be the first major reform to the structure of the EU’s export control regime since 2009.
Corporate compliance programs are expected to be tailored to an organization’s unique risks. Most regulators (and most modern organizational compliance programs) prescribe risk-based compliance. But one thing is to prescribe; another is to execute properly.…
Continue Reading Five Keys to a Successful Compliance Risk Assessment
The Biden Administration has taken (at least temporarily) the teeth out of a Trump-era Executive Order that directed the government to “Buy American” for essential drugs and medical devices. President Trump’s August 2020 Executive Order on Ensuring Essential Medicines, Medical …
Continue Reading “Buy American” Update: Essential Medicines May Continue to Come From Abroad (For Now)