On September 24, 2021, the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”) issued two General Licenses—(i) General License 14, “Authorizing Humanitarian Activities in Afghanistan” (“GL 14”), and (ii) General License 15, “Transactions Related to the Exportation or Reexportation of Agricultural Commodities, Medicine, Medical Devices, Replacement Parts and Components, or Software Updates in Afghanistan” (“GL 15”)—to “support the continued flow of humanitarian assistance to the people of Afghanistan and other activities that support basic human needs in Afghanistan.”
The Virtual Global Trade Conference is a virtual offering for all our clients and friends worldwide. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major developments impacting international trade, in nine one-hour sessions which took place from 13 to 15 July 2021.
Welcome to our Virtual Global Trade Conference, a virtual offering for all our clients and friends worldwide. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major developments impacting international trade. The sessions include trade policy, exports, sanctions, customs, China trade developments and trade developments.
We are pleased to invite you to our Virtual Global Trade Conference. In lieu of our annual conference in Bellevue, WA, we are excited to again provide a virtual offering available to all our clients and friends worldwide! The conference will be comprised of nine one-hour sessions over the course of three days.
On June 9, 2021, the Biden Administration issued Executive Order 14034, “Protecting Americans’ Sensitive Data from Foreign Adversaries” (“EO 14034”). EO 14034 revokes three executive orders issued by the Trump Administration that effectively banned certain Chinese connected software applications (“apps”) from operating in the United States. Although EO 14034 revokes these legal authorities and calls for their implementing rules to be rescinded, EO 14034 signals that the Biden Administration will continue to analyze the national security risks presented by apps developed by persons subject to the jurisdiction or control of “foreign adversaries” and suggests that additional restrictions may be issued in the future.
On April 28, 2021, the US Treasury Department’s Office of Foreign Assets Control (OFAC) issued a final rule amending and reissuing the Somalia Sanctions Regulations, 31 C.F.R. Part 551 (“Regulations”) to further implement two existing Executive Orders, Executive Order 13536 of April 2010 and Executive Order 13620 of July 2012, and to replace the prior Somalia Sanctions Regulations that were published in May 2010 in abbreviated form.
On April 1, 2021, President Biden signed Executive Order 14022, revoking Executive Order 13928 “Blocking Property of Certain Persons Associated with the International Criminal Court” (the “ICC EO”), which authorized the imposition of sanctions and visa restrictions on non-US ICC officials. The US Treasury Department’s Office of Foreign Assets Control…
The US Government has imposed a series of sanctions against Myanmar Economic Corporation Limited (MEC) and Myanma Economic Holdings Public Company Limited (a.k.a. Myanmar Economic Holding Limited) (MEHL), two military-affiliated conglomerates, in response to the February military coup in Burma (Myanmar). The combined restrictions are likely to have a significant…
On 1 February 2021, FINRA issued its 2021 Report on FINRA’s Examination and Risk Monitoring Program (“FINRA Report”) and a bit more than a month later, the SEC’s recently renamed Division of Examinations issued its own 2021 Examination Priorities (“Exam Priorities”). Each of these documents is quite long, with the FINRA report at 44 pages and the Exam Priorities document at 36 pages, and although there are some differences in focus and scope, we did find some common themes, which we have chosen to highlight in what we hope will be a helpful summary.
On January 14, 2021, the US Commerce Department’s Bureau of Industry and Security (BIS) amended the Export Administration Regulations (EAR) to remove Sudan’s designation as a State Sponsor of Terrorism (SST) (the “Amendments”). The Amendments implement the rescission of Sudan as an SST as announced by the Trump Administration in December 2020 by removing…