On January 13, 2025, the Department of Commerce’s Bureau of Industry and Security (BIS) published an Interim Final Rule (IFR) that expands controls on advanced computing integrated circuits (ICs or chips) and model weights...more
2/5/2025
/ Artificial Intelligence ,
Bureau of Industry and Security (BIS) ,
CFIUS ,
China ,
Data Centers ,
Data Security ,
ECCNs ,
Export Administration Regulations (EAR) ,
Export Controls ,
Interim Final Rules (IFR) ,
National Security ,
Popular ,
Regulatory Requirements ,
Semiconductors ,
Supply Chain ,
Technology Sector ,
Trump Administration
Global M&A in 2024 faced geopolitical issues, elevated interest rates, and inflationary pressures, with expanding antitrust, foreign investment, national security, and export regimes adding complexity. But inflation receded...more
1/10/2025
/ Acquisitions ,
Antitrust Division ,
Antitrust Provisions ,
Artificial Intelligence ,
Big Tech ,
CFIUS ,
Competition ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Emerging Technologies ,
EU ,
European Court of Justice (ECJ) ,
Federal Trade Commission (FTC) ,
Foreign Investment ,
General Data Protection Regulation (GDPR) ,
Hart-Scott-Rodino Act ,
IRS ,
Mergers ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Outbound Transactions ,
Private Equity ,
Regulatory Agenda ,
Regulatory Requirements ,
Stakeholder Engagement ,
Technology
The Department of Commerce (Commerce) Office of Information and Communications Technology and Services (OICTS) has broad authority—born out of executive action during the first Trump administration—to identify and mitigate...more
1/8/2025
/ China ,
Cybersecurity ,
Department of Defense (DOD) ,
Department of Justice (DOJ) ,
Drones ,
Final Rules ,
Foreign Adversaries ,
Information Technology ,
National Security ,
Proposed Rules ,
Regulatory Agenda ,
Risk Management ,
Supply Chain ,
Technology Sector ,
U.S. Commerce Department ,
Unmanned Aircraft Systems
Although the Trump transition is well underway, the Biden administration made news in the national security space by announcing significant new export restrictions on semiconductor equipment and technology destined for the...more
12/18/2024
/ Biden Administration ,
Bureau of Industry and Security (BIS) ,
China ,
ECCNs ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Direct Product Rule ,
Interim Final Rules (IFR) ,
NPRM ,
PRC ,
Secretary of State ,
Semiconductors ,
U.S. Commerce Department
Following years of development, on October 28, 2024, the U.S. Department of the Treasury published a final rule establishing its outbound investment security program (Final Rule). The new regime prohibits certain outbound...more
10/31/2024
/ Artificial Intelligence ,
China ,
Executive Authority ,
Final Rules ,
Foreign Investment ,
Foreign Persons ,
Information Technology ,
Lawful Permanent Residents ,
National Security ,
Semiconductors ,
U.S. Treasury
Continuing the Biden administration’s focus on securing the nation’s critical technologies, on September 23, 2024, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) announced a Notice of Proposed...more
9/30/2024
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Automated Systems ,
Automated Transportation ,
Autonomy ,
Bureau of Industry and Security (BIS) ,
China ,
Connected Cars ,
Motor Vehicles ,
PRC ,
Russia ,
Software ,
Supply Chain ,
U.S. Commerce Department
The Department of Commerce, Bureau of Industry and Security (BIS) just announced two developments impacting the Artificial Intelligence (AI) and advanced technologies sectors. Specifically, BIS imposed the first export...more
On March 6, 2024, the U.S. Departments of Commerce, Justice, and the Treasury issued a Tri-Seal Compliance Note (Compliance Note) stressing the need for non-U.S. persons to comply with U.S. sanctions and export controls. The...more
As discussed in our September 2023 Lawfare article, the Biden administration’s first-of-its-kind outbound investment review program seeks to limit outbound investments by U.S. investors in Chinese developers of certain...more
12/15/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Artificial Intelligence ,
China ,
Due Diligence ,
Export Administration Regulations (EAR) ,
Foreign Investment ,
Foreign Nationals ,
Investment ,
Semiconductors ,
Technology ,
U.S. Treasury
Continuing the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) efforts to bolster enforcement and compliance, on April 18, 2023, BIS issued a memorandum announcing significant changes to its voluntary...more
Today’s alert—the third and final installment in our Sanctions 2022 Year in Review series—provides an overview of U.S. sanctions enforcement in 2022, including the key lessons learned from the enforcement actions issued by...more
As Russia’s war in Ukraine passes the one-year mark, and the battles on the ground move forward with escalating levels of ferocity, governments around the world continue to coordinate and respond with increasingly severe...more
3/3/2023
/ Asset Freeze ,
Bureau of Industry and Security (BIS) ,
Central Bank of Russia ,
Economic Sanctions ,
EU ,
Export Controls ,
Office of Financial Sanctions Implementation (OFSI) ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
UK ,
Ukraine
2022 was an unprecedented year for U.S. sanctions and the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). While the sweeping new U.S. sanctions imposed against Russia and Belarus in unparalleled...more
3/2/2023
/ Burma ,
China ,
Drug Trafficking ,
Economic Sanctions ,
Enforcement Actions ,
Human Rights ,
Iran ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
UN Security Council ,
United Nations ,
Venezuela ,
Virtual Currency
Following a year of unprecedented M&A deal activity, 2022 saw the global M&A market settle back into a more familiar pace. The year finished 38.8% lower than 2021’s record level, but only 9.3% lower than 2015-2019 averages,...more
1/23/2023
/ Acquisitions ,
Antitrust Division ,
CFIUS ,
Competition ,
Department of Justice (DOJ) ,
Digital Markets Strategy ,
Enforcement Actions ,
EU ,
Excise Tax ,
Export Controls ,
Federal Trade Commission (FTC) ,
Foreign Investment ,
Mergers ,
Multidistrict Litigation ,
National Security ,
Non-Compete Agreements ,
Popular ,
Private Equity ,
REIT ,
Special Purpose Acquisition Companies (SPACs) ,
Technology ,
UK
After months of negotiations, Congress revealed the compromise version of the National Defense Authorization Act for Fiscal Year 2023 (NDAA) on December 6, 2022. The bill, viewed as a “must-pass” piece of legislation because...more
12/15/2022
/ Burma ,
China ,
Department of Defense (DOD) ,
Drug Trafficking ,
Economic Sanctions ,
Export Controls ,
Financial Institutions ,
Foreign Investment ,
Human Rights ,
Iran ,
NDAA ,
Popular ,
Russia ,
Semiconductors ,
Supply Chain
As Russia’s war in Ukraine stretches into its tenth month, governments around the world continue to coordinate and respond with increasingly severe sanctions and export controls....more
12/7/2022
/ Crude Oil ,
Economic Sanctions ,
EU ,
Export Controls ,
Office of Financial Sanctions Implementation (OFSI) ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Oil Prices ,
Reporting Requirements ,
Russia ,
UK ,
Ukraine
Those who have been waiting to see how exactly the United States Department of Commerce will distinguish and ultimately control “emerging” and “foundational” technologies may not get an answer after all....more
Revised draft legislation circulated June 13th is the most recent salvo in a long-running effort that is increasingly likely to create an unprecedented outbound investment review mechanism in the United States. ...more
6/17/2022
/ CFIUS ,
China ,
Critical Infrastructure Sectors ,
Department of Agriculture ,
Department of Health and Human Services (HHS) ,
Department of Homeland Security (DHS) ,
Foreign Entities ,
Foreign Investment ,
National Security ,
Russia ,
Trade Representatives ,
Written Notice
As Russia’s bloody invasion of Ukraine nears the end of its second month, with regular reports of human rights violations, possible chemical weapons attacks, and head of state musings regarding whether this campaign amounts...more
4/18/2022
/ Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
EU ,
Export Controls ,
Financial Markets ,
Foreign Relations ,
Japan ,
Most-Favored Nations ,
Office of Financial Sanctions Implementation (OFSI) ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
Trade Relations ,
UK ,
Ukraine
As Russia’s brutal invasion of Ukraine stretches on into its second month, the United States, European Union, United Kingdom, and other global allies have continued to pour additional funding and arms into Ukraine while...more
3/23/2022
/ Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
EU ,
Export Controls ,
Funding ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SWIFT ,
UK ,
Ukraine ,
US Department of State
After less than a week of a full-scale war between Russia and Ukraine, the post-Cold War global architecture appears irrevocably shattered, as Western nations line up to offer support and military and economic aid to Ukraine...more
3/1/2022
/ Airspace ,
Asset Freeze ,
Economic Sanctions ,
EU ,
Export Administration Regulations (EAR) ,
Export Controls ,
G7 ,
Popular ,
Russia ,
SWIFT ,
UK ,
Ukraine ,
United States
Back in July, we took a look at the enforcement actions for the first half of 2021 issued by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). Today’s post – the second half of our OFAC 2021 Year...more
2/9/2022
/ Cloud Storage ,
Corporate Counsel ,
Digital Currency ,
Foreign Exchanges ,
Foreign Subsidiaries ,
Geolocation ,
Know Your Customers ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Sanctions ,
SDN List ,
U.S. Treasury ,
UK ,
Virtual Currency
2021 was a year of transition in the United States and for the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). OFAC’s year, while busy, was far different from 2020, as the Biden Administration’s...more
2/8/2022
/ Biden Administration ,
Burma ,
China ,
Corporate Counsel ,
Economic Sanctions ,
Forced Labor ,
Hong Kong ,
Hong Kong Autonomy Act (HKAA) ,
Iran ,
NDAA ,
NGOs ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
SDN List ,
U.S. Treasury
In response to Russia’s increasingly aggressive troop build-up on the Ukrainian border and the lack of progress of negotiations between Russia and the United States, Democrats and Republicans in Congress appear united in...more
In a closely followed and much anticipated action, President Biden signed the National Defense Authorization Act for Fiscal Year 2022 (NDAA) on December 27, 2021 – following its approval by the U.S. Senate and House of...more