On March 14, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control announced a settlement with EFG International AG regarding violations of OFAC rules alleged to have occurred as a result of the firm’s buying, selling and holding U.S. securities on behalf of persons sanctioned by OFAC. This blog entry provides a link to a client alert on this topic.
Continue Reading OFAC Settlement Illustrates Sanctions Compliance Risks for Foreign Asset Managers Trading U.S. Securities

On March 20, 2024, the U.S. House of Representatives passed legislation that will prohibit data brokers from transferring U.S. residents’ sensitive personal data to foreign adversaries, including China and Russia. The Protecting Americans’ Data from Foreign Adversaries Act of 2024 marks a significant development in executive and legislative action related to foreign access to U.S. data.
Continue Reading House Passes the Protecting Americans’ Data from Foreign Adversaries Act

President Biden recently released an Executive Order “addressing the extraordinary and unusual national security threat posed by the continued effort of certain countries of concern to access Americans’ bulk sensitive personal data and certain U.S. Government-related data.”
Continue Reading DOJ Regulations and White House Executive Order Will Target Protections for Americans’ Sensitive Personal Data Against Foreign Threat Actors