News & Analysis as of October 19, 2024

Office of Foreign Assets Control (OFAC)

+ Follow

The National Defense Authorization Act is a United States federal statute enacted each year to specify the budget and expenditures of the Department of Defense. The NDAA identifies which agencies are responsible for national defense, provides funding for those agencies and includes instructions on proper use of the funds. less -

DOD Issues Proposed Rule to Address Conflicts of Interest for Certain Consulting Services

Wiley Rein LLP on 10/11/2024

Last week, the U.S. Department of Defense (DOD) published a proposed rule that would amend the Defense Federal Acquisition Regulation Supplement (DFARS) to implement a statutory prohibition on DOD awarding contracts with...more

War Aid and Sanctions: National Security Act Includes Significant New Sanctions Authorities

Morrison & Foerster LLP on 4/30/2024

On April 24, 2024, President Biden signed into law a long-debated $98 billion foreign aid and national security legislative package (the “Act”) providing funds for Israel, Taiwan, and Ukraine, and authorizing new sanctions...more

OFAC Year in Review 2023 – Part 1

Morrison & Foerster LLP on 3/4/2024

2023 was another record year for U.S. sanctions and the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). Most prominently, OFAC continued to impose significant additional sanctions on Russia in...more

DoD's List of “Chinese Military Companies”: What's New and What It Means for You

Dechert LLP on 2/26/2024

The U.S. Department of Defense (“DoD”) updated its list of “Chinese military companies” operating “directly or indirectly” in the United States on January 31, 2024, adding 17 new entities and removing three. The list was...more

2022 Cyber Watch List: A look at 2021 and What’s to Come in the Year Ahead

Wiley Rein LLP on 1/19/2022

Privacy In Focus®- In 2021, cyber gained prominence as a top business risk and national security concern with ransomware attacks wreaking havoc on business operations and critical infrastructure. Companies large and small,...more

United States Adopts Wide-Ranging China Restrictions

WilmerHale on 12/29/2021

End-of-Year Sanctions Target Chinese Supply Chains and AI, Quantum Computing, and Biotechnology - Several US executive branch agencies and the US Congress have adopted wide-ranging end-of-year sanctions, export control and...more

Administration's Anti-Corruption Efforts Likely to Yield Greater FCPA Enforcement in Latin America and Beyond

Womble Bond Dickinson on 8/25/2021

On June 3 of this year, the Biden Administration made plain its commitment to fighting corruption around the world, releasing a document identifying the fight against corruption “as an economic and national security priority”...more

Biden Administration Updates Framework for China-Related Investment Prohibitions and Expands the Scope of Restricted Chinese...

Pillsbury Winthrop Shaw Pittman LLP on 6/16/2021

E.O. 14032 signals that the Biden Administration will continue to restrict U.S. investments into China’s defense and surveillance technology sectors. The prior Administration’s November 2020 Executive Order (E.O.) 13959...more

Chinese Military Companies Trading Ban: Overview of OFAC’s Ongoing Guidance

Proskauer Rose LLP on 2/8/2021

On November 12, 2020, the Trump Administration issued an Executive Order prohibiting U.S. persons from trading securities and related derivatives in “Communist Chinese Military Companies” (CCMCs), effective 60 days later on...more

Trump Administration Bars U.S. Investments in Certain Chinese Companies Linked to Chinese Military

Dorsey & Whitney LLP on 11/20/2020

On November 12, 2020, President Trump issued Executive Order 139591 (“the Order”) that will shortly bar any U.S. person from “any transaction in publicly traded securities, or any securities that are derivative of, or are...more

US Imposes New Restrictions on Chinese Military Companies

Skadden, Arps, Slate, Meagher & Flom LLP on 11/18/2020

On November 12, 2020, President Trump signed Executive Order 13959 prohibiting U.S. persons from engaging in any transaction in publicly traded securities in “Communist Chinese military companies” (CCMCs), effective January...more

Second Round of U.S. Sanctions on Russia Pursuant to the Chemical and Biological Weapons Control Act

Akin Gump Strauss Hauer & Feld LLP on 8/14/2019

• The U.S. Department of State and the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) have imposed three new sanctions on Russia: o Effective August 26, 2019, U.S. banks (as defined below) are...more

Skadden's 2019 Insights: Enhanced US Export Controls and Aggressive Enforcement Likely to Impact China

Skadden, Arps, Slate, Meagher & Flom LLP on 1/21/2019

Tariffs targeting Chinese imports into the United States garnered headlines throughout 2018. However, during the latter part of the year, the U.S. government more quietly initiated efforts that in 2019 and beyond could be...more

Red Notice Newsletter - September 2018

Akin Gump Strauss Hauer & Feld LLP on 10/2/2018

ANTICORRUPTION DEVELOPMENTS - Petrobras Settles with U.S. Authorities Over Alleged FCPA Violations - On September 27, 2018, the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC)...more

The Export Control Reform Act and Possible New Controls on Emerging and Foundational Technologies

Akin Gump Strauss Hauer & Feld LLP on 9/12/2018

• ECRA became law on August 13, 2018. It is the permanent statutory authority for the EAR, which is administered by the U.S. Department of Commerce’s BIS. The new law codifies long-standing BIS policies and does not require...more

Red Notice Newsletter - August 2018

Akin Gump Strauss Hauer & Feld LLP on 9/6/2018

ANTICORRUPTION DEVELOPMENTS - $34 Million SEC Settlement for Legg Mason - On August 27, 2018, the Securities and Exchange Commission (SEC) announced that Legg Mason Inc. will pay more than $34 million to settle an...more

16 Results

View per page

Page: of 1

National Defense Authorization Act › National Security › Office of Foreign Assets Control (OFAC)

"My best business intelligence, in one easy email…"