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In ESG

United States: US Government imposes economic sanctions on Ethiopia targeting certain individuals; DDTC announces addition of Ethiopia to list of countries subject to arms embargo

by and 7 Mins Read

On September 17, 2021, President Biden signed Executive Order 14046, “Imposing Sanctions on Certain Persons With Respect to the Humanitarian and Human Rights Crisis in Ethiopia” aimed at addressing the widespread humanitarian conflict in northern Ethiopia. Both the White House and Secretary of State Antony J. Blinken also released statements calling for ceasefire negotiations to begin to find a political solution to the ongoing conflict in the region and a sanctions scheme to target individuals and groups responsible for violence, unrest, human rights abuses and the obstruction of humanitarian efforts.

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In Anti-Corruption

United States: This Week in Government Enforcement (Video Chat)

by 10 Mins Read

This weekly briefing is available on demand and will cover hot topics and current enforcement actions related to white collar crime and criminal investigations in the US and abroad to arm you with the information you need to start your business week. 18 October – This week’s discussion will cover the following: 1) January 6 Commission and possible prosecution of Steve Bannon for contempt; and 2)SEC Enforcement Director Grewal’s speech on appropriate approaches to compliance, proactive enforcement, electronic message retention/production, cooperation, and civil penalties.

In Antitrust / Competition

United States: Federal Trade Commission continues to signal heightened scrutiny for mergers

by , , and 7 Mins Read

In recent months, following the Biden Executive Order that set antitrust law enforcement priorities for the Federal Trade Commission (FTC) and the Department of Justice (DOJ) (among other federal agencies), the FTC has made a number of changes to its long-standing merger review policies and processes. In announcing those changes, the FTC has cited the “surge in merger filings” and the need to ensure that merger reviews are more “comprehensive and analytically rigorous.” We highlight below the most significant of these recent changes announced by the FTC and expect the DOJ’s Antitrust Division to adopt similar (if not identical) stances on these and related enforcement issues.

In Cybersecurity, Data and Tech

US: OFAC issues updated ransomware advisory and designates SUEX as an SD

by and 4 Mins Read

On 21 September 2021, the US Treasury Department’s Office of Foreign Assets Control issued an updated ransomware advisory highlighting the sanctions risks associated with ransomware payments in connection with malicious cyber-enabled activities and the proactive steps companies can take to mitigate such risks, including actions that OFAC would consider to be “mitigating factors” in any related enforcement action. OFAC concurrently designated SUEX OTC, SRO as a Specially Designated National, the first designated virtual currency exchange.

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In North America

US: USTR seeks comments for potential reinstatement of Section 301 exclusions

by and 2 Mins Read

On 8 October 2021, the Office of the United States Trade Representative issued a notice and request for public comments on the potential reinstatement of certain exclusions of tariffs on Chinese imports imposed under USTR’s Section 301 investigation. USTR will examine 549 previously granted exclusions, many of which expired since 31 December 2020, for possible reinstatement.

In Cybersecurity, Data and Tech

US: FCC proposes further restrictions on the use of Chinese Telecom and video surveillance equipment and services

by , and 3 Mins Read

On 19 August 2021, the Federal Communications Commission published a notice of proposed rulemaking discussing potential changes it is considering making to its equipment authorization and competitive bidding programs to restrict the use of telecommunications and video surveillance equipment and services produced or provided by five Chinese companies.

In Corporate Compliance

US: Commerce Department Issues Notice of Request for Public Comments on Risks in the Semiconductor Supply Chain and Announces Virtual Forum on Risks in the ICT Supply Chain

by 3 Mins Read

On 24 September 2021, the Commerce Department’s Bureau of Industry published a “Notice of Request for Public Comments on Risks in the Semiconductor Supply Chain.” The Notice seeks responses from various parties in the semiconductor supply chain about current shortages and related issues. Comments in response to the Notice are due by 8 November 2021.

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In Employment

United States: Department of Labor Requests Comments on Forced Child Labor Reports

by and 4 Mins Read

On October 8, the US Department of Labor published a notice requesting information and comments on the following three reports on child labor and forced labor practices in foreign countries that are published by the US Bureau of International Labor Affairs. The comments will be used in preparing the 2022 edition of the TDA Report and TVPRA List, as well as any updates to the E.O. List. The three reports are the US government’s key public statements on the issue of forced labor and child labor around the world.

In Employment

United States: Recasting a Boilerplate Provision

by and 1 Min Read

In 2010, public Delaware corporations began adopting forum provisions to require various types of “intra-entity” disputes — claims that directors breached their fiduciary duties in approving a sale transaction — be made solely in Delaware courts. However, over the past decade, this has now been shaped into a boilerplate provision under U.S. securities law.

In North America

United States: DoD Requests Public Comments to Assess Defense Industrial Base Supply Chains

by and 3 Mins Read

On September 28, 2021, the US Department of Defense (“DoD”) published a notice of request for public comments. DOD’s request relates to Executive Order 14017, (“America’s Supply Chains” or “Supply Chain EO”). As part of requiring agency reviews of key industrial bases’ supply chains, the Supply Chain EO mandated that DoD conduct a one-year review of supply chains within the defense industrial base with the goal of identifying key supply chain vulnerabilities and opportunities to address these vulnerabilities.

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