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ILN Today Post

CMIC Divestment Period Ends – What You Need to Know

CMIC Sanctions Foundations

Amid political and trade tensions between the United States and the People’s Republic of China (“China”), President Trump issued Executive Order (“EO”) 13959 on November 12, 2020, to address the national emergency posed by the exploitation of United States capital to resource and enable the development and modernization of China’s military, intelligence, and other security organizations. EO 13959 prohibited any transaction in publicly traded securities, derivatives, and other investment instruments1 of a “Communist Chinese military company,” only permitting divestment sales. EO 13974 of January 13, 2021, expanded EO 13959 to prohibit even the possession of securities of such companies. Read more…

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ILN Today Post

Empowered or Exposed?

DOJ’s new compliance certification requirement seeks to “empower” CCOs.

A new policy at the U.S. Department of Justice (“DOJ”) pertaining to Foreign Corrupt Practices Act (“FCPA”)/anti-corruption compliance has recently sent shockwaves through the corporate compliance community. The change was first previewed by Assistant Attorney General (“AAG”) for the DOJ’s Criminal Division Kenneth Polite in a speech delivered on March 22, 2022: “I have asked my team to consider requiring both the Chief Executive Officer and the Chief Compliance Officer to certify at the end of the term of the agreement that the company’s compliance program is reasonably designed and implemented to detect and prevent violations of the law… and is functioning effectively,” said AAG Polite.1 Speaking to a room full of compliance professionals, he reassured the audience that DOJ’s new certification policy is intended to “further empower” Chief Compliance Officers (“CCOs”) and ensure they “have true independence, authority, and stature within the company.” Still, the prospect of facing personal liability has many in the compliance community unsettled. The new DOJ policy, AAG Polite explained, applies to all corporate resolutions, including guilty pleas, deferred prosecution agreements (“DPAs”), and non-prosecution agreements (“NPAs”). Read more…

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ILN Today Post

Amid Heightened Enforcement, Congress & DOJ Mull Reforms to FARA Statute & Implementing Regulations

The Foreign Agents Registration Act of 1938 (“FARA” or “the Act”) is a controversial disclosure law that aims to combat covert foreign influence in the United States by promoting transparency with respect to the political, media, and public relations activities of so-called “agents of foreign principals.”1 FARA’s vague statutory language and history of selective enforcement have made the Act a subject of legal controversy for decades; however, until recently, FARA had largely flown under the radar of the business community. Now, FARA is experiencing a renaissance in public interest, media coverage, and governmental concern due, in large part, to a recent surge in enforcement activity from the U.S. Department of Justice (“DOJ”) over the past half-decade. And yet, amid this environment of heightened FARA enforcement, both Congress and DOJ are taking steps to reform the Act and its implementing regulations, respectively. Read more…

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ILN Today Post

New Wave of Russian Sanctions, General Licenses, FAQs, and Export Controls

On June 27 and 28, 2022, the U.S. government unleashed a new wave of sanctions and related measures aimed at Russians and Russian industry in response to Putin’s ongoing war against Ukraine. The Department of Treasury Office of Foreign Assets Control (“OFAC”) 1) added 99 persons to the Specially Designated Nationals and Blocked Persons (“SDN”) List, and 2) prohibited the importation of gold from Russia. OFAC also issued five new General Licenses. Read more…

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ILN Today Post

Torres Talks Trade Podcast Episode 3 on Cross-Border Trade Disruptions between Texas and Mexico

This week’s episode (below) covers the latest issues in cross-border trade between Texas and Mexico. Texas-based Customs Broker Adrian Gonzalez of Global Alliance Solutions helps break down the current state of supply chain disruptions, Title 42, the Summit of the Americas, and the future of international commerce between the United States and Mexico.

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Forced Labor and the Uyghur Forced Labor Prevention Act

Today, June 21, the Uyghur Forced Labor Prevention Act (“UFLPA”) comes into effect. It is the latest – and perhaps strongest – tool in the belt of U.S. regulatory and enforcement agencies to combat forced labor. The UFLPA puts the onus on importers to ensure their supply chains and merchandise are free from forced labor. This article will discuss forced labor enforcement generally, the UFLPA, and what it means for importers and how they can comply with the new regulations. If you have any questions about the UFLPA or other forced labor enforcement, please do not hesitate to contact the attorneys at Torres Trade Law, PLLC.

To access the full article, click here.

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Torres Talks Trade Podcast Episode 2 on Cybersecurity Maturity Model Certification (CMMC)

This week’s episode (below) covers the Cybersecurity Maturity Model Certification (CMMC), which lays out the cybersecurity standards required of government contractors. Guest Dave Grey, Cybersecurity Consultant with Torres Trade Advisory, joins Olga Torres to discuss what the CMMC requires, who it covers, and what all businesses can do to keep their and their customers’ data safe.

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ILN Today Post

We Are Delighted To Announce The Launching Of The Torres Talks Trade Podcast

During the podcast trade lawyers and subject matter expert guests discuss timely topics on trade and national security in an informal and informative setting. Join us for lively commentary as we dissect complex areas of the law in a podcast that attempts to bring trade to the people, or as we say “trade in plain English.”

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ILN Today Post

U.S. to the International Corporate World: Violations of Russia Sanctions Are Our Top Priority

Now more than ever, U.S. and multinational companies must do everything they can to ensure strict compliance with international sanctions imposed on Russia, Belarus, and individuals linked to those governments.

That’s because the U.S. Department of Justice (“DOJ”) has made it clear that, after generally stepping up its efforts to fight white-collar crime, it is turning its attention to identifying and preventing Russia sanctions evasion and export violations: Read more…

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ILN Today Post

Outrageous Scam or Investor Must-Have? What ESG Means To Your Global Trade Business

Lately there has been much chatter about Environmental, Social, and Governance (“ESG”) policies in business. Elon Musk has called ESG “an outrageous scam.” And while there is no clear definition, investors and ratings agencies, as well as ultimate buyers and consumers, increasingly look for financially and morally sound companies that are committed to these principles, and the U.S. government is codifying various aspects of the wider ESG umbrella into law. While commenters tend to focus much attention on the Environmental side, this article will look at the trade-related areas encompassed by the Social and Governance aspects of ESG, including Human Rights, Forced Labor, Trade Controls, Anti-Corruption, and other areas of trade-related corporate compliance

To access the full article, click Here.

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