On January 13, 2016, the U.S.
Client Alert | February 11, 2016
On January 21, 2016, the U.S. Departments of State and Homeland Security implemented significant changes to the Visa Waiver Program ("VWP") that can severely impede the ability of executives and employees of foreign companies to visit the United States.
Client Alert | February 4, 2016
THE UNITED STATESI. Major Program Developments A. Iran 1. Joint Comprehensive Plan of Action (JCPOA) a. Negotiation and Signing of JCPOA--July 14, 2015On July 14, 2015, the E3/EU+3 (China, France, Germany, the Russian Federation, the United Kingdom, and the United States) signed the Joint Com
Client Alert | February 2, 2016
The rise of international enforcement efforts and sanctions, the intensifying impact of cyber breaches, the evolution of shareholder activism, and the growing complexity of regulatory requirements are all examples of the expansive array of challenges facing today's compliance professionals.
Webcasts | January 20, 2016
On January 16, 2016, the comprehensive international sanctions restricting dealings with Iran and Iranian entities were substantially eased. Financial institutions and businesses hoping to access the Iranian market have new, immediate and substantial opportunities to do so; but this potential comes with continued complexities, ambiguities, and risks, particularly for U.S.
Client Alert | January 18, 2016
2015 was a blockbuster year in corporate non-prosecution agreements ("NPA") and deferred prosecution agreements ("DPA"), by sheer numbers alone. Skyrocketing to 100, in 2015 the number of agreements more than doubled the numbers in every prior year since 2000, when Gibson Dunn first began tracking NPA and DPA data.
Client Alert | January 5, 2016
As we kick off our second decade of updates on the state of play in international anti-corruption enforcement, the stakes for multinational companies have never been higher.
Client Alert | January 4, 2016
Following the recent historic election in Myanmar in which Daw Aung San Suu Kyi and her National League for Democracy won a landslide victory, the political landscape in the country continues to evolve at a fast pace.
Client Alert | December 10, 2015
(Updated January 5, 2016)On December 1, 2015, New York Governor Andrew M.
Client Alert | December 7, 2015
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
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
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
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
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
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
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
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
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
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
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 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
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
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
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
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
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
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
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
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
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
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
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
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
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
Gibson Dunn partner Jose W. Fernandez and associate Eric B.
Client Alert | February 19, 2015
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
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
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
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
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
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 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
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
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
In this alert, Gibson Dunn lawyers describe five trends in FCPA enforcement they observed between 2005 and 2015.
Client Alert | January 5, 2015
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
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
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
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
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