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Industrial Security leadership from Treasury, Commerce, and the DoD testified before the Senate Banking Committee on Thursday, calling for resources and legislative support as demands on their remit grow
The witnesses testified in support of Defense Production Act reauthorization, continued vigilance on outbound and inbound foreign investment, and enhanced resources for trade security at BIS.
July 24 the Bureau of Industy and Security published a Final Rule formalizing the changes to the Export Administration Regulations imposed by Congress in the emergency supplemental appropriation [HR 815] signed into law April 24th.
As a result of this new FDP Rule, exporters require a U.S. Government authorization for transfer of these items when produced outside the United States with certain U.S. technology, software, or production equipment when exports are destined to Iran or for use in connection with certain equipment destined to Iran, even when such items were never exported from the United States.
On July 18, 2024, the Bureau of Industry and Security published an interim final rule that revised the Export Administration Regulations (EAR). That rule inadvertently revised language related to recent changes to the Entity List. This document corrects the inadvertent revisions introduced in the July 18, 2024, rule.
Iranian national Saeid Haji Agha Mousaei , 53, made his initial appearance yesterday in Chicago federal court following his extradition from the United Kingdom to face charges for his role in a …
The Committee on Foreign Investment in the United States (CFIUS), today released its Annual Report to Congress for calendar year 2023. The Annual Report highlights key indicators of CFIUS’s activities and provides statistics on transactions that CFIUS evaluated in 2023.
For the three-year period from 2021 through 2023, investors from China filed the highest number of notices, accounting for 13.5 percent (115 notices) of total notices, followed by investors from Singapore with 8.4 percent (72 notices) and Canada with 8.1 percent (69 notices). Japan and the United Kingdom round out the top five with 6.5 percent each (56 notices each).
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today released guidance addressing questions raised by recent legislation that extended the statute of limitations for violations of certain sanctions that the agency administers.
As explained in the guidance, OFAC may now commence an enforcement action for civil violations of International Emergency Economic Powers Act- or Trading with Enemy Act-based sanctions prohibitions within 10 years of the latest date of the violation if such date was after April 24, 2019.
To match the new statute of limitations period, OFAC anticipates publishing an interim final rule, with an opportunity to provide comment, extending from five years to 10 years the recordkeeping requirements codified at 31 C.F.R. § 501.601.
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