On October 15, 2024, the Department of Defense (“DoD”) published the final version of its rule implementing the Cybersecurity Maturity Model Certification (“CMMC”) Program under Title 32 of the Code of Federal Regulations...more
10/24/2024
/ Controlled Unclassified Information (CUI) ,
Cybersecurity ,
Cybersecurity Maturity Model Certification (CMMC) ,
Defense Contracts ,
Defense Sector ,
Department of Defense (DOD) ,
DFARS ,
Federal Acquisition Regulations (FAR) ,
Federal Contractors ,
NIST ,
Prime Contractor ,
Proposed Rules ,
Subcontractors
On July 23, 2024, the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”) released its annual report to Congress for calendar year 2023 (the “Annual Report”). CFIUS is an interagency body chaired...more
Recent legislation, H.R. 815, the National Security Supplemental (“the Act”) – further explained by guidance issued by the U.S. Department of the Treasury Office of Foreign Assets Control (“OFAC”) on July 22, 2024 – has...more
7/25/2024
/ Cybersecurity ,
Economic Sanctions ,
Enforcement ,
EU ,
Export Controls ,
International Emergency Economic Powers Act (IEEPA) ,
Iran ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Statute of Limitations ,
Trading with the Enemy Act ,
U.S. Treasury ,
UK ,
US Department of State
On June 21, 2024, the Treasury Department released long-expected proposed regulations to curtail investments by U.S. persons (including investments by U.S. limited partners in non-U.S. pooled funds) and U.S.-controlled...more
6/24/2024
/ China ,
Corporate Counsel ,
Covered Entities ,
Covered Transactions ,
Foreign Investment ,
National Security ,
Proposed Rules ,
Reporting Requirements ,
Semiconductors ,
Technology Sector ,
U.S. Treasury
Broad authorizations permitting dealings in Venezuela’s oil and gas sector came to an end on April 17, 2024, when the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) terminated General...more
On February 23, 2024, the Biden Administration announced new sanctions targeting a number of different sectors of the Russian economy, Russian government officials and financial institutions, entities suspected of sanctions...more
3/11/2024
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
PRC ,
Russia ,
SDN List ,
U.S. Treasury ,
US Department of State
On February 28, 2024, the Biden Administration issued a new “Executive Order on Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern” (the “EO”). The...more
On October 18, 2023 the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a set of new authorizations under the Venezuela sanctions regime, including a temporary suspension of...more
On September 26, 2023, the “Export Enforcement Five” or “E5” partnership among the governments of Australia, Canada, New Zealand, the United Kingdom, and the United States issued joint guidance focused on preventing Russian...more
10/4/2023
/ Bureau of Industry and Security (BIS) ,
Compliance ,
Due Diligence ,
Economic Sanctions ,
End-Users ,
Evasion ,
Exporters ,
Financial Institutions ,
Globally Harmonized System ,
Priority Watch Lists ,
Red Flags Rule ,
Russia ,
Technology Sector
On July 26, 2023, the U.S. Departments of Justice, Treasury, and Commerce issued a joint compliance note (“JCN”) regarding voluntary self-disclosure (“VSD”) policies that apply to potential violations of U.S. sanctions...more
8/4/2023
/ Bureau of Industry and Security (BIS) ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
FinCEN ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
U.S. Commerce Department ,
U.S. Treasury ,
Whistleblowers
As the European Union has made continued progress toward implementing a holistic human rights legislative agenda, the United States, in the wake of the recent second Summit for Democracy, began to push its own set of human...more
On October 7, 2022, the Commerce Department Bureau of Industry and Security (“BIS”) – the primary gatekeeper on U.S. export controls – unleashed two lengthy and highly complex sets of regulations, aimed squarely at stopping...more
10/21/2022
/ Bureau of Industry and Security (BIS) ,
China ,
ECCNs ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Corporations ,
Foreign Direct Product Rule ,
Popular ,
Semiconductors ,
Technology Sector
On September 15, 2022, President Biden issued an Executive Order regarding the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”)....more
9/22/2022
/ Biotechnology ,
CFIUS ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cybersecurity ,
Executive Orders ,
Filing Requirements ,
Foreign Investment ,
Joe Biden ,
National Security ,
Popular ,
Sensitive Personal Information ,
Supply Chain ,
U.S. Treasury
Efforts by a bipartisan group of U.S. lawmakers to establish a national security screening mechanism for investment in “countries of concern” (including the People’s Republic of China) were dealt a significant blow recently,...more