DOJ China Initiative Tackles “Chinese Economic Espionage:” Legal Issues for Academia
The Department of Justice (DOJ) recently launched an initiative to “Combat Chinese Economic Espionage.” Announced on November 1, 2018 by former Attorney General Jeff Sessions, the China Initiative acts on the Trump Administration’s previous findings “concerning China’s practices” and “reflects the Department’s strategic priority of countering Chinese national security threats and reinforces the President’s overall national security strategy.” The China Initiative presents emerging issues for academia, the technology industry, and the private sector broadly.
Sovereign Wealth Funds: Governance & Risk for SWFs and Companies They Fund
Private companies that receive SWF and SOE investment, as well as the investors who arrange or co-invest with state-linked firms, should, when screening investments and assessing nonfinancial risk before and after the point of investment (and when additional investment is under consideration), the quality and risk inherent in the corporate structure and governance, as well as the business conduct controls of SWFs and SOEs, may affect them in the near- to longer term. In doing so, they should take a lesson from the PIF situation, post-Khashoggi.
Hdeel Abdelhady Briefed Chinese Delegation on Trade, Investment & Tech Ventures
Hdeel Abdelhady briefed a delegation of officials from China on U.S. legal and policy developments in the areas of trade, investment, and technology ventures and transfers. The event, hosted by the International Incubator in Maryland, provided mutual learning opportunities.
Critical Resources Law, Supply Chain Risk Management and Transactions
MassPoint takes a strategic and contextual approach to critical resources law, policy and risk. The Firm works with critical resources suppliers, consumers and investors to manage legal and policy complexity in supply chains and transactions.
U.S. and International Business & Banking
Bank and Money Services Business Licensing and Compliance MassPoint works with U.S. and foreign clients wishing to establish banks and money services businesses…
Wolfsberg Group Updates Correspondent Banking Due Diligence Questionnaire
The Wolfsberg Group, a group of thirteen global banks, on October 15, 2017 announced its issuance of a “comprehensively” updated Correspondent Banking Due Diligence Questionnaire (the “CBDDQ”). The CBDDQ responds to FATF Recommendation 13 on Correspondent Banking and is the international correspondent banking standard on which the Wolfsberg Group members have “settled“, “committed to being early adopters of,” and plan to support “with FAQ’s and additional awareness raising materials.”
Russia Sanctions: OFAC Directive 1 as Amended September 29, 2017
Title: OFAC Further Tightens Russia Debt Prohibitions Pursuant to the Countering Russian Influence in Europe and Eurasia Act of 2017 Content Type: Business Update…
Dana Gas Sukuk Governing Law and Jurisdiction
This post discusses these issues in Dana Gas sukuk matter and offers some observations and lessons that can be drawn from the governing law and forum selection questions raised by the Dana Gas sukuk matter. As this post entails post hoc discussion of the Dana Gas sukuk offering based on publicly available information, there is an element (or more) of Monday morning quarterbacking, and this should be borne in mind. Nevertheless, the general observations and potential lessons—which are not unique to the Dana Gas sukuk or Islamic transactions—should be read for their generality.