To support the development of clean hydrogen technology as part of a national energy strategy, the Infrastructure Act includes multiple amendments, modifications, and additions to existing statutory provisions.
The US Treasury Department’s Office of Foreign Assets Control, the US State Department, and the US Commerce Department have issued rules adjusting maximum civil monetary penalties under the Federal Civil Penalties Inflation Adjustment Act – Improvements Act of 2015.
On February 2, 2022, the Department of State published a proposed rule that, most significantly, would amend provisions of the International Traffic in Arms Regulations affecting how the nationality of foreign persons is determined for purposes of deemed exports/reexports.
Baker McKenzie is pleased to launch the fifth in their Biden Supply Chain Policy video series focused on the pharmaceuticals and active pharmaceutical ingredients supply chain, which is another of the critical supply chains that has been a particular focus of the Biden Administration. The Biden Administration has been pursuing policies aimed at increasing resilience in this supply chain by addressing shortages and minimizing disruption through a range of measures, including efforts to on-shore and near-shore production to reduce reliance on foreign countries.
On 26 January 2022, the US Departments of State, Treasury, Commerce, Labor, Homeland Security and the Office of the US Trade Representative issued a joint advisory that highlights certain supply chain-related risks for companies whose business and supply chains may touch Burma/Myanmar.
On 24 January 2022, the Department of Homeland Security published in the Federal Register a request for public comments on the Uyghur Forced Labor Prevention Act. US importers and other interested parties should consider submitting comments that will both inform the Forced Labor Enforcement Task Force of the challenges companies face vetting their supply chains across industries, as well as provide insight into the effectiveness of various compliance-focused measures.
The US Trade Representative announced that it is seeking comments concerning the operation of the United States-Mexico-Canada Agreement with respect to automotive goods, including the implementation and enforcement of the USMCA rules of origin for automotive goods.
On 9 February 2022, the Securities and Exchange Commission voted 3-1, with Commissioner Peirce, the lone remaining Republican appointee opposed, to propose new rules under the Investment Advisers Act of 1940 and the Investment Company Act of 1940 related to cybersecurity risk management, reporting of breach events, and recordkeeping for registered investment advisers and investment funds.
Brian Whisler and Aleesha Fowler have co-authored a chapter in The Complete Compliance and Ethics Manual 2022.
On 18 January 2022, the Department of Justice and Federal Trade Commission announced a joint public inquiry seeking comments on ways to “modernize” the federal merger guidelines and “strengthen merger enforcement.” The press release calls for public comments on a range of topics and highlights the agencies’ joint view that many industries across the economy are becoming more concentrated and “less competitive.” In their statements, both DOJ Assistant Attorney General for the Antitrust Division, Jonathan Kanter, and FTC Chair, Lina M. Khan, announced an intention to “overhaul” the 2010 Horizontal Merger Guidelines and conduct a broad-based review of the 2020 Vertical Merger Guidelines.