• The Securities and Exchange Commission (SEC) has taken its first step to implement the Holding Foreign Companies Accountable Act ("HFCA Act").  The SEC adopted interim final rules that will assist the SEC in identifying issuers that filed an annual report with an audit report issued by a registered public accounting firm that has a branch or office located in a foreign jurisdiction and that the Public Company Accounting Oversight Board ("PCAOB") has determined that it is unable to inspect or investigate completely because of a position taken by an authority in that jurisdiction ("Commission-Identified Issuers").

  • The Biden Administration has encountered some difficulties in implementing E.O. 13959, a Trump administration directive that inhibits investment by United States persons in the securities of companies identified by the Department of Defense or the Department of the Treasury as Communist Chinese military companies ("CCMC"s).

  • Sharon O’Shaughnessy, a member of the White Collar Defense Investigations & Compliance Counseling Practice, has been selected to the Leadership Council on Legal Diversity (LCLD) 2021 Fellows Program.

  • Financial services law firm Murphy & McGonigle today announced the launch of an improved version of its M&M Defend app, a smart phone application that guides individuals, businesses and in-house counsel with instantaneous information during legal crisis situations.

  • This Update reports on recent developments concerning Executive Order 13959 addressing transactions in the securities of companies designated as Communist Chinese military companies ("CCMC").   Specifically, we discuss the issuance by the Office of Foreign Assets Control ("OFAC") of General License No. 1A and related Frequently Asked Questions ("FAQ"s).

  • President Biden recently appointed Gary Gensler as Chair  of  the  SEC,  and  we  expect  that  the  newly  Democratic-controlled Senate will confirm his appointment. 

  • We previously issued a Client Memorandum concerning the impact of certain U.S. Government actions that will affect the markets for securities of certain Chinese issuers.   In this Update, we focus on recent developments concerning Executive Order 13959 addressing transactions in the securities of companies designated as Communist Chinese military companies.