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Callie Lefevre

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On May 14, 2020, the US Department of State, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), and the US Coast Guard issued guidance to the private sector aimed at preventing deceptive shipping practices used in sanctions evasion, smuggling, facilitation of terrorism, and other criminal activity (the “Advisory”).  The Advisory focuses on tactics recently used by malign actors to evade sanctions and sets out a non-exhaustive list of best practices companies…

On April 10, 2020, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued a rule amending the North Korea Sanctions Regulations (“NKSR”). The NKSR amendments implement certain provisions of the North Korea Sanctions and Policy Enhancement Act of 2016 (“NKSPEA”), as amended by the Countering America’s Adversaries Through Sanctions Act (“CAATSA”), and the National Defense Authorization Act for Fiscal Year 2020 (“2020 NDAA”). Our prior blog post on NKSPEA can be found here…

On February 20, 2020, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) published two new Frequently Asked Questions regarding the interim final rule of June 21, 2019 that amended the Reporting, Procedures and Penalties Regulations, 31 CFR Part 501 (the “RPPR Rule”). These FAQs hope to clarify some of the issues that arose from the interim final rule but still leaves areas of uncertainty, such as what constitutes a rejected transactions. For example,…

On January 13, 2020, the U.S. Department of Treasury (“Treasury”) issued two anticipated final rules (the “Final Rules”) that replace the existing regulations governing the Committee on Foreign Investment in the United States (“CFIUS”). The Final Rules implement the Foreign Investment Risk Review Modernization Act (“FIRRMA”) enacted in August 2018, which expanded the United States’ foreign investment review regime. FIRRMA mandated pre-closing notification of certain foreign investments and expanded the scope of transactions subject to CFIUS’ jurisdiction. The Final Rules largely follow the proposed rules released on September 17, 2019. Our analysis of the proposed rules is available here. Our earlier analyses of FIRRMA and the “critical technologies” pilot program implementing certain FIRRMA provisions on an interim basis are available here and here.