Communist Chinese Military Companies General License 1A replaces General License 1. It extends the deadline for being able to skip over non-exact matches until May 27th, and keeps the fact that you have to match the names in the NS-CCMC list – and even explicitly names the 4 names that […]
So, as announced on the White House website on Thursday (I still have not received an email from OFAC – I just decided to check if it had shown up on the Recent Actions page), there is a new Executive Order that amends Executive Order 13959. It basically makes a […]
With apologies to Biggie… IMMEDIATE RELEASE DOD Releases List of Additional Companies, In Accordance with Section 1237 of FY99 NDAA JAN. 14, 2021 Today, the Department of Defense released the names of additional “Communist Chinese military companies” operating directly or indirectly in the United States in accordance with the statutory […]
It’s on the White House news page, but has not hit OFAC’s Recent Actions page yet… But here’s a letter to the Speaker of the House of Representatives and the President of the Senate (which it technically the VP): STATEMENTS & RELEASES Text of a Letter to the Speaker of […]
OFFICE OF FOREIGN ASSETS CONTROL Executive Order 13959 of November 12, 2020 Addressing the Threat From Securities Investments That Finance Communist Chinese Military Companies GENERAL LICENSE NO. 1 Authorizing Transactions Involving Securities of Certain Communist Chinese Military Companies (a) Except as provided in paragraph (b) of this general license, all […]
Today, OFAC added the following person: to its Global Magnitsky sanctions, for human rights abuses. And the State Department issued the following press release about the new designation: Designation of Iraqi Militia Leader in Connection with Serious Human Rights Abuse PRESS STATEMENT MICHAEL R. POMPEO, SECRETARY OF STATE JANUARY 8, […]
Two more Frequently Asked Questions about Communist Chinese Military Companies (note that neither the program, nor the FAQ section includes the word “Communist”, but the OFAC Notice does): 863. Can U.S. persons custody, offer for sale, serve as a transfer agent, and trade in covered securities? Answer For purposes of E.O. 13959, […]
862. Does Executive Order (E.O.) 13959 require U.S. persons, including U.S. funds and related market intermediaries and participants, to divest their holdings in publicly traded securities (and securities that are derivative of, or are designed to provide investment exposure to, such securities) of the Communist Chinese military companies identified in the […]
How the Sausage Gets Made looks at the new NS-CCMC List published Monday by OFAC as an example of how, when they are new and different from the vast majority of sanctions programs, OFAC has to course correct and fill in some of the blanks left by Executive Orders, legislation […]
Yesterday, OFAC published the designations made in Executive Order 13959, and subsequently by the Department of Defense in both PDF and CSV forms. They’ve named this “Non-SDN Communist Chinese Military Companies List”, and have added company aliases (also known as, or A.K.A.), the issuer name of any securities, and any […]
