International Regulatory Enforcement

OECD National Contact Points: Lessons from VEON & ANZ
OECD National Contact Point (NCP) processes—discussed in a prior post and article—are an increasingly material source of ESG-related business risk. Two recent decisions illustrate how these processes are evolving to take on a broader mandate and harder edge.
The New CFIUS Regulations: How Will This Actually Work? FAQs We Wish Treasury Would Answer
Gallons of ink will be spilled explaining the new regulations published by the Department of the Treasury to implement the extensive changes to the national security review process undertaken by the Committee on Foreign Investment in the United States (“CFIUS"). The updated rules, which went into effect on February 13, 2020, were mandated by the 2018 Foreign Investment Risk Review Modernization Act (“FIRRMA").
New Rules for CFIUS: How Investment Funds Can React and Take Advantage
The Committee on Foreign Investment in the United States (“CFIUS”) has just implemented new rules effective February 13, 2020 under the Foreign Investment Risk Review Modernization Act (“FIRRMA”). The new regulations overhaul how CFIUS will review inbound investments into the U.S. for national security risks, and the changes have significant implications for U.S.-based investment funds.
Harvard Professor Arrested for Allegedly Hiding Ties to China: What Universities Can Do to Protect National Security While Promoting an Open Academic Environment
On January 28, 2020, Charles Lieber, chair of the Chemistry and Chemical Biology Department at Harvard University, was arrested and charged with making false statements to U.S. Government agencies regarding his ties to Wuhan University of Technology (“WUT”). On the same day, two Chinese nationals who worked as researchers in Massachusetts were separately indicted for their involvement in transferring sensitive research to China.
What Drug Companies Should Be Thinking About After the U.S. - China Trade Deal
On January 15, 2020, the United States and China announced an economic and trade deal (“Phase One Trade Agreement”) that could significantly improve the ability of U.S. and non-U.S. drug companies to protect their intellectual property rights and market their innovative pharmaceutical products in China. As part of the Phase One Trade Agreement, China has committed to providing a “patent linkage” mechanism (which echoes the Hatch Waxman Act) for the early resolution of patent disputes before competitor drugs may be launched. In addition, China has agreed to provide patent term extensions to compensate for “unreasonable delays” in patent grant and regulatory review periods.
Foreign Investment Control in France: A Strengthened Regime
The French foreign investment control regime has been recently adjusted. The list of “sensitive sectors” has been extended and criteria regarding the submission of a foreign investor to prior authorization have been clarified. Greater enforcement powers have also been granted to the French Ministry of Economy and Finance.
U.S. Increases Sanctions on Iran as Tensions Escalate
On Friday, January 10, the Trump Administration increased the stakes for non-U.S. companies seeking to do business with Iran, as tensions between the two countries escalate.
Navigating an OECD NCP Specific Instance
Over the last decade, the growing materiality of environmental, social and governance (ESG) risks has been accompanied—and spurred—by the increasing prominence of alternative dispute resolution mechanisms for ESG disputes. These institutions are one node in the tightening web of ESG-related business risk. This entry focuses on the most prominent non-judicial mechanism to resolve global ESG disputes, the OECD National Contact Point (NCP) process.
ESG and Mission-Critical Issues for Director & Officer Liability
Amidst a spirited debate around the duties of directors in relation to environmental, social, and governance (ESG) risks, two recent decisions from Delaware courts provide clarifying contours. The decisions are particularly significant since Delaware is the leading state for corporate law and the most popular jurisdiction of incorporation for publicly traded companies. Both decisions construe the scope of a board’s responsibility to monitor and oversee corporate risk under the standards set forth in In re Caremark Int’l, Inc. Derivative Litigation, 698 A.2d 959 (Del. Ch. 1996), and its progeny.
OFAC’s Mixed Signals Lead to Exxon Victory in District Court
Jason Fiebig, Jeremy Steed, Christina Ferma, Thomas Jordan
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