What Exporters Should Know About Financial Institution Export Compliance
Although the BIS Guidance is a directive to FIs, it very much affects exporter customers of FIs. Here’s what exporters should know.
Weaponized Law as a Trade Tool
The ZTE case illuminates a potentially transformative shift in how the United States deploys its legal and regulatory authority in the international economic arena—a development with profound implications for global commerce, compliance practices, and the rule of law.
Consumer-Oriented Insolvency Risk Allocation in Islamic Retail Banking
Hdeel Abdelhady proposed consumer-oriented insolvency risk allocation in Islamic retail profit sharing investment account reflecting the operation of those accounts in practice.
Nippon’s CFIUS Case Tests Limits of Presidential Power
President Biden blocked Nippon’s acquisition of U.S. Steel under Section 721 of the Defense Production Act, a law born of opposition to a Japanese investment decades ago. The case offers an opportunity to challenge the President’s Section 721 authority, and limits of judicial review.
Hdeel Abdelhady in Law360: Nippon Steel-U.S. Steel CFIUS Challenge
MassPoint Principal Hdeel Abdelhady analyzes Nippon Steel and U.S. Steel’s CFIUS challenge in Law360, examining key questions of presidential authority to prohibit foreign investment on national security grounds.
BIS Guidance to Financial Institutions on Export Administration Regulations Compliance
BIS advises financial institutions to guard against EAR violations through: (1) screening against export lists, (2) enhanced due diligence for high-risk transactions, (3) derisking, and (4) reporting and self-disclosing EAR violations. The BIS guidance reiterates FIs’ obligation to file suspicious activity reports (SARs) as directed in three prior FinCEN-BIS alerts.
OFAC Updates Unblocked Property Reporting Rule
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) released an advance version of its Final Rule on October 7, 2024, amending parts of 31 C.F.R. § 501.603. The Final Rule governs reports on unblocked property. The Final Rule will take effect 30 days after its publication in the Federal Register.
Global Magnitsky Sanctions- FAQs
The Global Magnitsky Sanctions target corruption and serious human rights abuse worldwide, without need for a U.S. jurisdictional nexus. MassPoint’s Global Magnitsky FAQs answers frequently asked questions about the Global Magnitsky Sanctions program (GloMag).