On July 22, 2024, the Department of Treasury, Office of Foreign Assets Control (OFAC) announced a significant planned extension to its recordkeeping requirements, which will increase the retention period from five to ten years. OFAC expects to publish an interim final rule to provide an opportunity to comment. The change will increase compliance obligations for entities engaged in transactions subject to U.S. sanctions.
About
Lisa Mays is an associate in the Governmental Practice in the firm's Orange County office. She is lead associate of the firm’s Transportation Team.
Latest Post
More Posts
ITAR Fees Overhaul: Navigating the New Registration Costs
Proposed Outbound Investment Regulations: Understanding the New Restrictions on U.S. Outbound Investments in Artificial Intelligence (AI), Semiconductors, and Quantum Computing
Navigating the Solarscape: Our Handy Solar Tariffs Cheat Sheet
Now Including the Kitchen Sink: Expansion of Export Controls on Russia Adds Restrictions on Low-Level Items and Software
Say SoL Long to Short Limits: Doubling Down on the Sanctions Statute of Limitations
Reverse CFIUS Unveiled: Focus on China, Semiconductors, Artificial Intelligence, and Quantum Computing
Does Your Trade Policy Support Your Company’s Values?
Lend Me Your EARs: CFIUS Makes Export Controls a Trigger for Mandatory Filings
UPDATED: China Trade War Scorecard: Keeping Track of Tariffs
About
Lisa Mays is an associate in the Governmental Practice in the firm's Orange County office. She is lead associate of the firm’s Transportation Team.
Connect: http://www.sheppardmullin.com/lmays
Subscribe: Subscribe via RSS