International Trade

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Serious Fraud Office v Standard Bank Plc: Deferred Prosecution Agreement

UK SFO enters into its first DPA and unveils its first enforcement of the corporate offence of failure to prevent bribery In a judgment of November 30, 2015 in Serious Fraud Office v Standard Bank Plc: Deferred Prosecution Agreement (Case No: U20150854), the Crown Court has approved the United Kingdom's first deferred prosecution agreement (the "Standard Bank DPA") under the regime for DPAs brought into effect in the UK by section 45 and Schedule 17 of the Crime and Courts Act 2013.

Client Alert | December 3, 2015

Webcast: Blockchain Technology

​This webcast covers the basics of blockchain technology, including the evolution of its uses from digital currencies, such as bitcoin, to other areas.

Webcasts | November 17, 2015

The 2015 Myanmar Elections: Impact on Myanmar Sanctions

Myanmar went to the polls on November 8, 2015 (the "2015 Elections") to elect members of the upper and lower houses of the national legislature and 14 state and regional legislatures.  The 2015 Elections witnessed participation by the National League for Democracy (the "NLD") (headed by Aung San Suu Kyi), which had boycotted the 2010 general elections.  Based on the preliminary results released through November 15, 2015, the NLD has secured an overwhelming majority of the seats of the national legislature (referred to as the Pyidaungsu Hluttaw).  The members of the newly elected national legislature will elect the next President of Myanmar to lead the new Myanmar Government from April 1, 2016.  Given the majority secured by the NLD, the next Pre

Client Alert | November 17, 2015

Webcast: The New Era of Fluid Global Sanctions

​This 90 minute briefing provides an overview and assessment of recent substantial changes in key sanctions regimes and the upcoming divergence of US, EU and UN economic sanctions as Iran sanctions relief is implemented, the EU debates the renewal of sanctions against Russia and the US contemplates unilateral sanctions against cyber criminals and others.

Webcasts | October 21, 2015

“Adoption Day” Marks Next Step for Iran Nuclear Deal

​October 18, 2015 marked Adoption Day, the latest milestone in the implementation of the Joint Comprehensive Plan of Action ("JCPOA") between the E3/EU+3 (China, France, Germany, the Russian Federation, the United Kingdom, and the United States) and the Islamic Republic of Iran to ease sanctions on Iran in exchange for limitations on its nuclear program.

Client Alert | October 19, 2015

The Next Frontier in Sanctions Enforcement

​Washington D.C. of counsel Adam Smith is the author of "The Next Frontier in Sanctions Enforcement" [PDF] published in the October - December issue of  Risk & Compliance Magazine

Article | October 1, 2015

Bilateral and Multilateral Investments Treaties: What All Dealmakers Need to Know

​If you are contemplating entering into investments in foreign markets, early consideration of protections available under bilateral investment treaties (BITs) and multilateral investment treaties (MITs) is crucial.  I.     When should you be considering BITs and MITs?BITs and MITs protection should be considered where your investment involves a heavily regulated industry or agreements directly with a foreign state (or state-owned entity)."Investment" for these purposes, potentially covers a broad range of interests and transactions from mergers and acquisitions, joint ventures, purchases of securities or assets, project financing, concession contracts, greenfield asset development, manufacturing plant construction and, in some cases, can also exte

Client Alert | September 25, 2015

Iran Nuclear Deal Poised to Clear Political Hurdle in the United States

Today, the agreement between the E3/EU+3 (China, France, Germany, the Russian Federation, the United Kingdom, and the United States) with the Islamic Republic of Iran to ease sanctions on the country in exchange for limitations on its nuclear program, the Joint Comprehensive Plan of Action ("JCPOA"), took a major political step closer to being realized and implemented in the United States.

Client Alert | September 2, 2015

2015 Mid-Year FCPA Update: Part 2

​Washington, D.C. partners F. Joseph Warin, John W.F. Chesley and associate Stephanie Connor are authors of "2015 Mid-Year FCPA Update (Part 2)" published on August 31, 2015 by Westlaw Journal's Government Contract.  The article is the second installment of a two-part series providing an overview of the FCPA as well as domestic anti-corruption enforcement, litigation, and policy developments in the first half of 2015

Article | August 31, 2015

2015 Mid-Year FCPA Update: Part 1

​Washington, D.C. partners F. Joseph Warin, John W.F. Chesley and associate Stephanie Connor are authors of "2015 Mid-Year FCPA Update (Part 1)" published on August 17, 2015 by Westlaw Journal's Government Contract.  The article is the first installment of a two-part series providing an overview of the FCPA as well as domestic anti-corruption enforcement, litigation, and policy developments in the first half of 2015.

Article | August 17, 2015

Landmark Nuclear Agreement with Iran Reached

On July 14, 2015, the E3/EU+3 (China, France, Germany, the Russian Federation, the United Kingdom, and the United States) signed a landmark agreement with the Islamic Republic of Iran to ease sanctions on the country in exchange for limitations on its nuclear program.  This agreement was the result of intense negotiations beginning in November 2013.  The Joint Comprehensive Plan of Action ("JCPOA" or "the Agreement") removes many of the nuclear-related economic sanctions imposed by the United States and the European Union in the past decade.  As Iran complies with various provisions of the agreement--including caps on its uranium enrichment capabilities and inspections of its key nuclear facilities to ensure that no prohibited activity is occurring--the E

Client Alert | July 14, 2015

2015 Mid-Year Update on Corporate Non-Prosecution Agreements (NPAs) and Deferred Prosecution Agreements (DPAs)

2015 came in like a lion, bringing with it remarkable policy changes regarding corporate non-prosecution agreements ("NPA") and deferred prosecution agreements ("DPA").

Client Alert | July 8, 2015

2015 Mid-Year FCPA Update

For years, U.S. regulators have been encouraging their foreign counterparts to pick up the mantle of international bribery enforcement and more evenly distribute the balance of prosecutions.  With 2015 potentially shaping up to be a year in which transnational bribery prosecutions by foreign authorities match if not exceed U.S.-initiated actions under the Foreign Corrupt Practices Act ("FCPA"), it appears that their calls have been heeded.  But the shifting balance between domestic and foreign regulators does not portend a lull for U.S.

Client Alert | July 6, 2015

A Dealmaker’s Guide to National Security Implications of Foreign Investment in U.S. Government Contractors

Washington, D.C. partners Joseph West and Judith Lee, New York partner Jose Fernandez, and Washington, D.C. staff attorney Andrea F. Farr are the authors of "A Dealmaker's Guide to National Security Implications of Foreign Investment in U.S.

Article | June 30, 2015

Deadline Extended for All New Filers of the Commerce Department’s 2014 Benchmark Survey of U.S. Direct Investment Abroad (BE-10)

As we reported earlier this month, the Department of Commerce, Bureau of Economic Analysis ("BEA") published a final rule in December 2014 that required certain U.S.

Client Alert | May 29, 2015

Virtual Currency Regulation and Enforcement: Granting of First NY Charter and FinCEN Fine Demonstrate Continued Evolution for Virtual Currency Sector

The last several months have demonstrated the continued growth, volatility and regulation of the virtual currency industry. A number of Wall Street institutions and established technology companies have made sizeable investments in virtual currencies and the underlying blockchain technology, and investors aren't the only ones who continue to be interested in the development of virtual currencies.

Client Alert | May 27, 2015

Guidelines for Reporting Under Commerce Department’s Benchmark Survey of U.S. Direct Investment Abroad (BE-10)

On November 20, 2014, the U.S. Department of Commerce, Bureau of Economic Analysis ("BEA") published a final rule amending the Code of Federal Regulations, 15 C.F.R.

Client Alert | May 8, 2015

US Government Implements Historic Changes to Cuba Sanctions Regime

Washington, D.C. partner and Co-Chair of the firm’s International Trade Practice Group, Judith A. Lee and Washington, D.C. associate Annie Yan are authors of, “US Government Implements Historic Changes to Cuba Sanctions Regime” [PDF] published in Risk & Compliance Magazine's April-June 2015 issue.

Article | April 30, 2015

Cybersecurity Sanctions: A Powerful New Tool

 Gibson Dunn partners Judith Alison Lee, Alexander H. Southwell and Jose W. Fernandez and associates Stephenie Gosnell Handler and Eric B. Lorber are authors of the following article published by Law360.  The team addresses an executive order recently signed by President Obama, "Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities," and the broad mandate it provides for the U.S.

Article | April 2, 2015

Blockchain Technology and Legal Implications of ‘Crypto 2.0’

Washington, D.C. partner Judith Lee, New York partner Arthur S. Long,  Washington D.C. counsel Jeffrey L. Steiner, associate Stephenie Gosnell Handler and Palo Alto associate Zachary Wood are the authors of "Blockchain Technology and Legal Implications of ‘Crypto 2.0’" [PDF] published in the March 31, 2015 issue of BNA’s Banking Report.

Article | March 31, 2015

Webcast: Global Sanctions Update

This 90 minute briefing provides an update on the extraordinary events of the last year with respect to economic and trade sanctions. The briefing will cover sanctions in the European Union and United Kingdom as well as United States sanctions, and will include particular emphasis on recent developments and emerging issues that affect in-house counsel, compliance personnel, directors and senior executives.

Webcasts | March 17, 2015

Webcast: Virtual Currencies

Virtual currencies such as Bitcoin have experienced rapid evolution in recent months. Notwithstanding considerable challenges such as price volatility and association with illicit activities, interest in virtual currencies and their underlying technology has been steadily increasing.

Webcasts | March 10, 2015

Venezuela’s Currency Regulations May Violate Investment Treaty Protections

Earlier this month, Venezuela announced a new free-floating exchange rate mechanism, which had the effect of massively devaluing Venezuela's bolivar currency.

Client Alert | February 25, 2015

U.S. Department of State Releases List of Cuban Goods and Services Now Eligible for Importation

As previously reported in our January 20, 2015 Client Alert, "U.S. Department of the Treasury and Department of Commerce Issue Rules Implementing Changes in U.S.

Client Alert | February 25, 2015

United States Drone Policy Stretches Its Wings

It has been a busy week for U.S. regulators and policymakers as they continue to wrestle with how to effectively manage the myriad issues related to the growing and evolving use of unmanned aerial systems ("UAS"), or "drones," both domestically and abroad.  Beginning February 15, 2015, the Obama Administration announced a series of new rules and policies affecting the commercial use of drones domestically, as well as the ability of U.S.

Client Alert | February 23, 2015

Havana Calling: Easing the Embargo Will Open the Cuban Telecom Sector

Gibson Dunn partner Jose W. Fernandez and associate Eric B.

Client Alert | February 19, 2015

BitLicense 2.0: New York Moves Closer to Comprehensive Virtual Currency Regulation

On February 4, 2015, the New York Department of Financial Services released revisions to its groundbreaking virtual currency regulatory framework commonly referred to as the "BitLicense."  

Client Alert | February 11, 2015

Webcast: Foreign Investments in Emerging Markets

A handful of developing economies have been, and will continue to be, a key driver of global growth. In the coming years, emerging markets are expected to grow two to three times faster than developed nations.

Webcasts | February 11, 2015

Bitcoin Basics: a Primer on Virtual Currencies

Washington, D.C. partner Judith Lee, New York partner Arthur S. Long, Los Angeles partner Marcellus McRae, Washington D.C. counsel Jeffrey L. Steiner and associate Stephenie Gosnell Handler are the authors of "Bitcoin Basics: a Primer on Virtual Currencies" [PDF] published in the January issue of the Business Law International.

Article | January 30, 2015

2014 Overview of Myanmar Sanctions

In light of the increased interest that Myanmar is currently generating among international investors, we have prepared this brief overview of applicable international sanctions measures, with a focus on the United States.  As further discussed below, the U.S.

Client Alert | January 26, 2015

China Plans Major Overhaul of Its Foreign Investment Regulatory Regime

On January 19, 2015, the PRC Ministry of Commerce ("MOFCOM") published the draft Foreign Investment Law (the "Draft Law") for public comments, which is intended to replace the existing foreign investment related laws and regulations (the "Existing Laws") and introduce a more market-based regulatory regime for foreign investments into China.Current RegimeChina currently has three major pieces of legislation governing foreign investments:  the Sino-Foreign Joint Venture Law passed in 1979 (the "Equity JV Law"), the Foreign Enterprise Law passed in 1986 (the "WFOE Law") and the Sino-Foreign Co-operative Joint Venture Law passed in 1988 (the "Co-operative JV Law").  A particular form of entity is allowed to be set up in Chin

Client Alert | January 23, 2015

U.S. Department of the Treasury and Department of Commerce Issue Rules Implementing Changes in U.S. Policy on Cuba

On January 15, 2015, the United States Department of the Treasury (Treasury Department) and the United States Department of Commerce (Commerce Department) released regulatory amendments implementing historic changes to the Cuba sanctions regime announced by President Obama on December 17, 2014.  The amendments incorporate the diplomatic and economic changes to U.S.

Client Alert | January 20, 2015

2014 Year-End Sanctions Update

2014 was marked by numerous noteworthy developments. The crisis in Ukraine and the international community's efforts to respond have figured prominently in, if not dominated, sanctions discourse.

Client Alert | January 15, 2015

2014 Year-End Update on Corporate Non-Prosecution Agreements (NPAs) and Deferred Prosecution Agreements (DPAs)

The U.S. Department of Justice ("DOJ") and the U.S. Securities and Exchange Commission ("SEC") continue to deploy DPAs and NPAs aggressively.  This past year left no doubt that such resolutions are a vital part of the federal corporate law enforcement arsenal, affording the U.S.

Client Alert | January 6, 2015

Developments in Virtual Currency: Regulation and Enforcement Actions Gain Momentum

The pace of regulation and enforcement actions relating to virtual currencies has continued to pick up during the fall of 2014.

Client Alert | January 5, 2015

2014 Year-End FCPA Update

In this alert, Gibson Dunn lawyers describe five trends in FCPA enforcement they observed between 2005 and 2015.

Client Alert | January 5, 2015

President Obama Signs the Ukraine Freedom Support Act into Law, Authorizing New Sanctions on Russian Entities and Foreign Companies Conducting Business in Russia

On December 18, 2014, President Barack Obama signed the Ukraine Freedom Support Act of 2014 ("Ukraine Freedom Support Act"), which provides him with the authority to impose additional economic sanctions on foreign persons conducting particular transactions in certain Russian economic sectors, notably the energy and defense sectors.  The law, which originated as S.2828 in the United States Senate and H.R. 5859 in the House of Representatives and passed both with unanimous consent, further increases the economic pressure on Russia followings its annexation of Crimea in March 2014 and its continued support of separatist activities in eastern Ukraine.  The law provides the President with new powers, though generally does not require that he impose new sanctions.

Client Alert | December 22, 2014

U.S. Government Takes First Step Toward Normalizing Relations with Cuba; Restores Diplomatic Ties and Eases Trade Sanctions

On December 17, 2014, President Obama announced "the most significant changes to [U.S.] Cuba policy in more than 50 years."  According to information released by the White House, the United States and Cuba will move to normalize diplomatic and economic relations and the United States will implement significant changes to its sanctions policies and regulations with respect to Cuba.  On a broad diplomatic level, the U.S.

Client Alert | December 18, 2014

The First Annual Conflict Minerals Filings: Observations and Next Steps

As companies prepare for the second year of filings under the Securities and Exchange Commission's ("SEC") new conflict minerals rule, many companies are looking for guidance from the first annual filings, which were due June 2, 2014.  As expected, the inaugural Form SD and conflict minerals report filings reflect diverse approaches to the new compliance and disclosure requirements.  We offer below some observations based on the first round of conflict minerals filings for companies to consider as they address their compliance programs and disclosures for the 2014 calendar year.  It is important to note, however, that the shape of future compliance and reporting obligations will be impacted by the outcome of the pending litigation challenging the conflict mine

Client Alert | December 5, 2014

Recent Japanese Government Sanctions on Russia

Following the response of the United States and European Union to the Russian Federation's annexation of Crimea in March 2014, as well as its continued support of separatists in eastern Ukraine, Japan recently imposed economic sanctions on Russia.  In August 2014, the Ministry of Foreign Affairs, the Ministry of Finance, and the Ministry of Economy, Trade and Industry implemented economic sanctions pursuant to the 外国為替及び外国貿易法 [Foreign Exchange and Trade Act], Law No.

Client Alert | November 3, 2014

Protecting Your Investments in Emerging Markets

The wealth of opportunities in emerging markets attracts a significant amount of foreign investment.  Making investments in parts of Africa, Latin America, Asia and the former Soviet Union can pay off handsomely if successful.  However, those same investments are often exposed to significant political risk.There are ways for investors in emerging markets to limit their exposure to such risk, and counsel can help to identify some of the more compelling options in this regard.  Political risk insurance is one well-known option.  Another option is to structure (or restructure) an investment, whether in a greenfield project or through an acquisition, to take advantage of the protections offered by a favorable investment treaty.  It is the latter option that is the subj

Client Alert | October 6, 2014

U.S. Treasury Department Imposes Additional Sanctions on Russian Entities in Financial Services and Energy Sectors in Response to the Evolving Ukraine Crisis; Expands List of Blocked Persons

Subsequent to the Russian Federation's annexation of Crimea in March 2014, President Obama issued three Executive Orders ("E.O.s") authorizing the Office of Foreign Assets Control ("OFAC") at the U.S.

Client Alert | September 22, 2014

The New Standard in Bitcoin Regulation?  New York’s Proposed BitLicense Would Create a Highly Regulated Virtual Currency Industry

On July 21, 2014, the New York Department of Financial Services ("NYDFS") released a groundbreaking virtual currency regulatory framework, becoming the first state to issue comprehensive rules tailored to virtual currency businesses.  The proposed framework, which has become commonly known as the "BitLicense," was the long-anticipated product of nearly a year of public hearings and other inquiries.  Initially slated for a 45-day public comment period, the comment period was recently extended to October 21, 2014.  This client alert provides detailed information on the scope of the proposed regulation, and discusses potential implications for the virtual currency industry.What are Virtual Currencies?Virtual currencies are digital representations of val

Client Alert | September 10, 2014

International Shipments Deemed “Received” by Debtor When Delivered to Common Carrier “FOB Port of Origin” – Rather Than Physically Received – for Purposes of Granting an Administrative Expense Claim Under Section 503(B)(9) of the Bankruptcy Code

Gibson Dunn provides analysis of a 2014 bankruptcy court decision in the case In re World Imports, Ltd., and its implications for U.S. companies.

Client Alert | August 18, 2014

USD 100 Million to Stay on the Racing Track — Munich Court Shows That German Anti-Corruption Laws Have Teeth

This week's landmark decision taken by the Munich regional court (Landgericht München I) in the bribery trial against Bernie Ecclestone not only marked the end of a three-year-long investigation but also delivered a new USD 100 million record settlement in an individual criminal proceeding.

Client Alert | August 7, 2014

Bear Baiting – EU Sectoral Sanctions Against Russia

The European Union (the "EU") has over the course of the last two days adopted wide-ranging sectoral sanctions against the Russian Federation, which will apply throughout the EU's 28 member states.

Client Alert | August 6, 2014

Webcast – 2014 Mid-Year Sanctions Update

​This 90 minute briefing provides an update on the extraordinary events of the first half of 2014 with respect to economic and trade sanctions. The content of this year’s briefing includes United States sanctions administered by the Office of Foreign Assets Control (“OFAC”), as well as European Union and United Kingdom sanctions.

Webcasts | July 30, 2014

U.S. Treasury Department Sanctions Russian Entities in Financial Services and Energy Sectors in Response to Evolving Ukraine Crisis; Expands List of Blocked Persons

Subsequent to the Russian Federation's annexation of Crimea in March 2014, President Obama issued a series of Executive Orders ("E.O.s") authorizing the Office of Foreign Assets Control ("OFAC") at the U.S.

Client Alert | July 21, 2014

An Expert’s View: Mid-Year Trends in Large Cap and Middle Market Loan Terms

New York partner Janet Vance is the author of "An Expert’s View: Mid-Year Trends in Large Cap and Middle Market Loan Terms" [PDF] that “examines issues around OFAC and anti-money laundering representations and describes factors that may affect middle market deal activity.” The article was published in the July/August 2014 issue of Thomson Reuters's Practical Law The Journal.This material from Practical Law The Journal has been reproduced with the permissions of the publisher, Thomson Reuters.

Client Alert | July 17, 2014

Lessons from the Trenches

The following article written by Gibson Dunn partner Jose W.

Client Alert | July 15, 2014