Foley Hoag's Trade Sanctions
& Export Controls Practice offers experienced, proactive
regulatory advice to help clients avoid regulatory compliance
missteps and to prevail in official proceedings. For more
information about global compliance, visit the Foley Hoag Trade Sanctions & Export Controls
Practice Group.
Included in this Issue:
- Proposed Rules on CFIUS Mandatory Declarations Released: No More NAICS Codes!
- New Prohibitions on Foreign-Produced Exports to Huawei
- New Executive Order Restricts Foreign Investment in Bulk-Power System
- Human Rights Protections for Uighur and Minority Groups in
China
- Uyghur Human Rights Policy Act Passes Senate
- New Entity List Designations for Human Rights Abuses in the Xinjiang Uighur Autonomous Region
- North Korean and Chinese Bankers Indicted in $2.5 Billion Money Laundering Scheme
- Sanctions Advisory Issued for the Maritime Industry, Energy and Metals Sectors, and Related Communities
- Sanctions Updates
- Iran: Sanctions on Chinese Company for Assisting Mahan Airline
- Iran: Twelve Iranian Officials and Entities Sanctioned
- Nicaragua: Sanctions on Senior Government Officials
- State Department Designation of Former Official of Bosnia and Herzegovina for Corruption
- Zimbabwe: Removal of General License No. 1
- CFIUS Releases Annual Report to Congress for 2018
- CBP Issues Detention Order on Seafood Harvested with Forced Labor
Excerpt:
Proposed Rules on CFIUS Mandatory Declarations
Released: No More NAICS Codes!
On May 21, 2020, the Department of the Treasury released a proposed rule that would modify the requirements for Committee on Foreign Investment in the United States (CFIUS) mandatory declarations. This proposed change includes removing the North American Industry Classification System (NAICS) codes criteria. These changes have been anticipated since new CFIUS regulations went into effect on February 13, 2020 and the Department of the Treasury announced that future changes regarding mandatory declarations for critical technology transactions were forthcoming. Written comments on the proposed rule must be submitted by June 22, 2020.
Download the May 2020 Foley
Hoag Cross-Border Compliance Update (pdf).
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.