Baker McKenzie is pleased to invite you and your colleagues to its annual Anti-Corruption, Export Controls, and Trade Sanctions Update scheduled for Thursday, October 5 in Washington, DC.
On August 24, 2017, President Trump signed an Executive Order imposing additional sanctions on Venezuela. The Order states that these sanctions, which primarily target the Government of Venezuela and the Venezuelan oil industry, are in response to the deepening political and humanitarian crisis in Venezuela.
Operation Car Wash is transforming the legal landscape in Brazil. The aggressive response by Brazilian prosecutors to locate evidence of corruption is cascading through Latin America and has prompted numerous investigations into corruption by other countries outside Brazil.
US: Second Circuit Overrules Newman’s “Meaningfully Close Personal Relationship” Test for Insider Trading
On August 23, 2017, the Second Circuit issued a 2-1 opinion overruling its previous decision in U.S. v. Newman, which required proof that gifts of inside information were made to those with a “meaningfully close personal relationship” with the tipper before insider trading liability could be imposed.
Welcome to the August 2017 edition of Baker McKenzie's International Trade Compliance Update.
The Bill aims to protect patient safety from medical device cyber attacks and improve medical device security
Last month, the US Senate passed significant Russia sanctions legislation. Last Friday, the Senate and House of Representatives reached agreement to advance the bill. The House approved the bill yesterday.
Any company manufacturing or contracting to manufacture products using such conflict minerals had previously been required to conduct extensive due diligence on its supply chain. Following a series of partial losses in court, the SEC appears to be backing off the rule—for now.
In our update, we provide a summary of all trade compliance related developments around the globe over the past month.
The US Treasury Department’s Financial Crimes Enforcement Network issued for public inspection a notice of proposed rulemaking that would restrict a Chinese commercial bank’s access to the US financial system based on a finding that the bank was involved in money laundering activities involving North Korea.