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Nov 14, 2024 | 
jdsupra.com | Joshua F. Gruenspecht |Stephen R. Heifetz |Alyza Sebenius
A Guide to the New Diligence Questions for “Outbound” U.S. InvestmentIn late October 2024, the U.S. Treasury Department (Treasury)issued its final rules(the Outbound Rules) implementing President Biden’s Executive Order (EO) 14105 on “outbound” U.S. investment. See our prior mailershereandhere. The Outbound Rules will take effect on January 2, 2025, and will add a new layer of diligence to most U.S. parties’ investment activities.
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Oct 26, 2024 | 
msn.com | Stephen R. Heifetz
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Oct 26, 2024 | 
thehill.com | Stephen R. Heifetz
The proposed acquisition of U.S. Steel, an iconic U.S. corporation, by Nippon Steel of Japan has drawn unusual attention from Washington, putting the fate of the deal in doubt. Reporting about a secretive government review of the acquisition suggests a final decision will be made shortly after the election, but the troubled status of the acquisition has prompted sharp criticism.
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Oct 10, 2024 | 
cfr.org | Stephen R. Heifetz
A regular series on the choices faced by international economic policymakers More From Our Experts Under both the Donald Trump and Joe Biden administrations, the U.S. government has had a seemingly unquenchable thirst for national security regulations limiting investment, trade, and information flows. Rare bipartisan policy alignment has yielded a growing array of restrictions premised on concerns about China, Russia, terrorism, and other international sources of angst.
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Aug 20, 2024 | 
jdsupra.com | Stephen R. Heifetz |Troy Jenkins
Money services businesses (MSBs), a category which includes money transmitters (e.g., PayPal and other payment facilitators), as well as administrators and exchangers of convertible virtual currencies (e.g., Bitcoin exchangers), will have new anti-money laundering (AML) obligations if a proposed new rule is adopted.
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Nov 15, 2023 | 
jdsupra.com | Stephen R. Heifetz |Troy Jenkins
On October 13, 2023, California Governor Gavin Newsomsigned into lawCalifornia Assembly Bill 39,California’s Digital Financial Assets Law(DFAL). DFAL will regulate “digital financial assets” and require companies engaged in a “digital financial asset business activity” to obtain licenses from the California Department of Financial Protection and Innovation (DFPI), subject to certain exceptions, similar to New York’s BitLicense.
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Sep 14, 2023 | 
bnanews.bna.com | Stephen R. Heifetz
President Joe Biden recently issued an order to restrict US investors from contributing to Chinese technological growth in areas that Secretary Janet Yellen’s Treasury Department will define. Is Yellen “The One” to bridge the economic relationship between China and the US? In the 1999 classic “The Matrix,” Keanu Reeves’ character, Neo, is a singular force for salvation or “The One,” who fights against a forbidding environment that shackles humanity.
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Sep 14, 2023 | 
news.bloomberglaw.com | Stephen R. Heifetz
President Joe Biden recently issued an order to restrict US investors from contributing to Chinese technological growth in areas that Secretary Janet Yellen’s Treasury Department will define. Is Yellen “The One” to bridge the economic relationship between China and the US? In the 1999 classic “The Matrix,” Keanu Reeves’ character, Neo, is a singular force for salvation or “The One,” who fights against a forbidding environment that shackles humanity.
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Jul 26, 2023 | 
jdsupra.com | Joshua F. Gruenspecht |Stephen R. Heifetz
One of the bigger surprises in the history of the Committee on Foreign Investment in the United States (CFIUS) began to unfold in May 2023, when CFIUS posted a new Q&A on theFAQ section of the CFIUS website. The FAQ effectively announced a seemingly technical change to its understanding of the definition of “completion date,” triggering an avalanche of law firm advisories, some questioning the intent and/or wisdom of the new definition.
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Jul 25, 2023 | 
law360.com | Stephen R. Heifetz
By Stephen Heifetz (July 25, 2023, 5:29 PM EDT) -- An important regulatory development in May of this year has contributed to growing skepticism about the Biden administration's commitment to an open investment policy.
