On December 13, 2024, the US Treasury Department (âTreasuryâ) issued 35 new questions and answers (âFAQsâ) providing guidance on the November 17, 2024 final rule outlining the US governmentâs Outbound Investment Security Program (âOutbound Investment Rulesâ). Â These Outbound Investment Rules, which become effective January 2, 2025, implement a targeted outbound investment compliance regime called for by Executive Order (EO) 14105 issued by President Biden on August 9, 2023. The full list of published FAQs can…
The US Department of Commerce (âDepartmentâ) issued a final rule (the “Rule”) on December 6, 2024 to amend provisions related to the Departmentâs review of transactions involving information and communications technology and services (âICTSâ) âdesigned, developed, manufactured, or supplied by persons owned by, controlled by, or subject to the jurisdiction or direction of a foreign adversary that may pose undue or unacceptable risk to the United States or U.S. persons.â The Rule implements important clarifications…
On October 28, 2024, the US Treasury Department (“Treasury”) issued a long-anticipated final rule (“Final Rule”)âeffective January 2, 2025âimplementing a targeted outbound investment compliance regime called for by Executive Order (“EO”) 14105 issued by President Biden on August 9, 2023. The Final Rule applies to investments by, or in some circumstances directed by, US Persons in Chinese businesses involving specified categories of technologies — namely: semiconductors and microelectronics, quantum information technologies and artificial intelligence (AI).…
On October 9, 2024, the US Commerce Departmentâs Bureau of Industry and Security (âBISâ) issued guidance to financial institutions on best practices for compliance with the US Export Administrations Regulations (âEARâ). The guidance aims to help financial institutions minimize the inadvertent EAR violations, especially under General Prohibition 10 (âGP 10â), which prohibits financing or servicing items subject to the EAR with knowledge that a violation of the EAR has occurred, is about to occur, or…