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Foreign Relations Corporate Counsel

The Volkov Law Group

State Street’s $7.45MM OFAC Penalty Highlights Importance of Sanctions in M&A Due Diligence

The Volkov Law Group on

The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has released a $7.45 million penalty against State Street Bank and Trust Company and its non-bank, fintech subsidiary Charles River Systems for...more

Hogan Lovells

New EU Sanctions Reporting Obligations in Force as of 1 May 2024 and 1 June 2024

Hogan Lovells on

The new EU notification requirements relating to transfers of funds out of the EU by EU entities with a certain level of direct or indirect Russian ownership enters into force soon. The reporting obligation has a broad scope,...more

Mayer Brown

UK Government to launch new unit to enforce export controls and trade sanctions

Mayer Brown on

On 11 December 2023, the UK Government announced plans to create the Office of Trade Sanctions Implementation (OTSI), a new governmental body that will be responsible for inter alia the civil enforcement of UK trade...more

Blake, Cassels & Graydon LLP

A Primer on Canadian Sanctions Legislation - July 2023

Canada, like other major jurisdictions, has a broad range of economic and financial sanctions targeting foreign states and their nationals, as well as various terrorist organizations....more

Morgan Lewis

Update: Russia Introduces New Rules Allowing Takeover of Assets Owned by ‘Unfriendly State’ Persons

Morgan Lewis on

Russian President Vladimir Putin issued Decree No. 302, “On Temporary Management Over Certain Assets,” on April 25, authorizing the Russian federal agency for state property management—or any governmental agency the president...more

Holland & Knight LLP

Biden Administration Eases Some Trump-Era Cuba Restrictions

Holland & Knight LLP on

The U.S. Department of State announced on May 16, 2022, a series of measures aimed at supporting the Cuban people and independent Cuban entrepreneurs and loosening Trump-era restrictions that largely isolated the island and...more

BCLP

International Law Recourse for Potential Expropriation of Foreign Assets by Russia

BCLP on

With the continuing exit and suspension of operation of foreign entities in Russia, Russian State authorities are exploring retaliatory measures, including a regime for the nationalisation and forced sale of foreign assets. ...more

Morgan Lewis

Update: Russia Adopts Special Decree on Countermeasures

Morgan Lewis on

President Vladimir Putin issued a decree, “On Special Economic Measures in connection with the Unfriendly Actions of the United States of America and Other Foreign Countries” (Decree), on 28 February. This is the first decree...more

Littler

The Ukraine Conflict & Related Sanctions: What Is the Impact on Global Workforces?

Littler on

The Russian military’s recent invasion of Ukraine, and the related sanctions against Russia have many companies asking:  how does this chaos impact our workforces in those countries?  This broad question is answered below,...more

The Volkov Law Group

SAP Reaches Broad Settlement and Agrees to Pay More Than $8 Million for Violations of Iran Sanctions Program (Part I of IV)

The Volkov Law Group on

In a precedent-setting agreement, the Justice Department, OFAC and the Bureau of Industry and Security announced a settlement with SAP SE for more than $8 million for numerous violations of the Iran Sanctions program....more

Hogan Lovells

USMCA's rapid-response labor mechanism

Hogan Lovells on

The United States-Mexico-Canada Trade Agreement (USMCA) is noteworthy for its novel “facility specific rapid response labor mechanism” (the Rapid Response Mechanism or Mechanism). The Mechanism permits the United States or...more

Jones Day

Regional Shake-Up or More of the Same? How the USMCA Impacts North American Trade

Jones Day on

The Situation: The United States, Canada, and Mexico recently reached an agreement in principle to revise and replace the North American Free Trade Agreement ("NAFTA") with the United States-Mexico-Canada Agreement ("USMCA")....more

Womble Bond Dickinson

After NAFTA: Digital Trade in the New USMCA

Womble Bond Dickinson on

One of the avowed reasons for scrapping the North American Free Trade Agreement (NAFTA) and replacing it with a new agreement was that “digital trade” did not even exist in 1994 when NAFTA came into force. Accordingly, The...more

Ladas & Parry LLP

USMCA – New Agreement as to The Modernization of NAFTA Comes with Key Changes Regarding U.S. IP Rights

Ladas & Parry LLP on

Late on September 30, an agreement (USMCA) was reached between the United States, Mexico and Canada which modernizes the 24 year old North American Free Trade Agreement (NAFTA)....more

Foley Hoag LLP - Global Business and Human...

New Anti-Trafficking Legislation May Spur Closer Look at Manufacturers’ Supply Chains

On September 26, the Senate Committee on Foreign Relations approved the Frederick Douglass Trafficking Victims Prevention and Protection Reauthorization Act of 2018 (H.R. 2200). The bill would reauthorize the Trafficking...more

Sheppard Mullin Richter & Hampton LLP

Principal Deputy Assistant Attorney General Finch: Compliance Re-Evaluation?

On May 31, 2018, Principal Deputy Assistant Attorney General Andrew Finch delivered an important policy statement at the ABA antitrust in a Conference in Seoul, Korea. Finch remarks of May 31, 2018. The most widely reported...more

Sheppard Mullin Richter & Hampton LLP

Our Armchair Santería on Cuba Policy: What Will President Trump do on Cuba?

According to reports published this week, the Trump Administration is preparing to release the results of its policy review on Cuba in the “coming weeks.” We don’t have a crystal ball (or a leaking insider). But we continue...more

Thomas Fox - Compliance Evangelist

Doing Business in Cuba Under the FCPA – Part II

Today, I continue my exploration of doing business in Cuba from the Foreign Corrupt Practices Act (FCPA) perspective. Yesterday, I made clear that anyone you do business with in Cuba is going to be a foreign official under...more

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