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The Filing Cabinet

"The Filing Cabinet," which covers compliance with the Dodd-Frank Act and the Sarbanes-Oxley Act, as well as other regulatory action from the Securities and Exchange Commission, executive compensation, and shareholder activism, is written by CW staff writer Joe Mont. Mont welcomes questions, comments, and statements from readers on SEC filing matters and will address them here when appropriate. Readers can contact him at joe.mont@complianceweek.com.
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The Filing Cabinet Blog
Advisory warns companies about sanctions evasion tactics used by North Korea
Jaclyn Jaeger | July 27, 2018
The U.S. government has issued an advisory highlighting the sanctions evasion tactics used by North Korea that could expose companies—including manufacturers, buyers, and service providers—to compliance risks under U.S. or United Nations sanctions authorities.
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The Filing Cabinet Blog
Bitcoin ‘addresses’ added to sanctions screening
Joe Mont | November 29, 2018
For the first time, the Treasury Department has added digital currency identifiers on its sanctions blacklist. It has also drafted new guidance on how those transactions should be identified and reported.
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The Filing Cabinet Blog
New OFAC Sanctions Rules Target Cyber-Attacks
Joe Mont | December 31, 2015
The Treasury Department has implemented new rules that execute an executive order issued in April by President Barack Obama authorizing sanctions against countries and foreign nationals involved in cyber-attacks against U.S. citizens, companies, or government agencies. The rules formalize a strategy used to increase sanctions against North Korea in response to its alleged role in the hacking of Sony.
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The Filing Cabinet Blog
New Sanctions Imposed on North Korea
Jaclyn Jaeger | January 2, 2015
President Obama has signed an executive order imposing new sanctions on North Korea in response to the cyber-attack on Sony Pictures Entertainment. Specifically, the sanctions target agencies and officials associated with the North Korean government and Workers’ Party of Korea. They will be denied access to the U.S. financial system and barred from entering the United States.
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The Filing Cabinet Blog
OFAC Amends ‘50 Percent Rule’ for Sanctions
Joe Mont | August 14, 2014
New guidance from the Treasury Department’s Office of Foreign Assets Control addresses enterprises owned 50 percent or more in the aggregate by more than one person appearing on a sanctions list. When multiple blocked individuals collectively own at least 50 percent of an entity, it too will be considered blocked, even if it doesn’t specifically appear in an executive order or OFAC’s list of Specially Designated Nationals. More inside.
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The Filing Cabinet Blog
OFAC eases sanctions on Sudan; terrorism concerns persist
Joe Mont | July 10, 2018
The Trump administration has dropped most of the U.S. sanctions targeting Sudan, also removing it from the list of nations targeted by a controversial travel ban. The White House stopped short, however, of removing the war-torn country from its terrorism watch list.
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The Filing Cabinet Blog
OFAC Introduces New Sanctions List Format
Joe Mont | January 6, 2015
As part of an effort to better assist screening programs and create a global sanctions list, the Treasury Department has announced a new format for its Specially Designated Nationals and Blocked Persons List. The new format was developed with the United Nations and the Wolfsberg Group of International Banks and can be used by governments worldwide.
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The Filing Cabinet Blog
OFAC to lift sanctions on three Russian companies
Jaclyn Jaeger | December 28, 2018
The U.S. Department of the Treasury’s Office of Foreign Assets Control notified Congress on Dec. 19 of its intention to lift sanctions imposed on three Russian companies.
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The Filing Cabinet Blog
Podcast: How to improve sanctions compliance
Joe Mont | February 12, 2018
In our latest podcast, we chat with Daniel Wager of LexisNexis Risk Solutions, about the challenges inherent in sanctions compliance. What can firms look for in terms of the red flags that a bad actor is seeking to bypass sanctions restrictions?
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The Filing Cabinet Blog
Sanctions Rewrite Will Open Cuba to U.S. Companies
Joe Mont | December 17, 2014
Seeking to normalize relations between the United States and Cuba, President Barack Obama has announced an easing of decades-old sanctions. Authorizing the export of goods for private sector Cuban companies "essentially throws the market open to U.S. companies,” Judith Lee, chair of the law firm Gibson Dunn's International Trade Regulation and Compliance Practice, says. For now, however, companies must hold tight and wait for trade regulations and sanctions to be ammended.
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The Filing Cabinet Blog
Sen. Brown asks Treasury to probe President’s business ties
Joe Mont | March 8, 2017
U.S. Sen. Sherrod Brown (D-Ohio) has asked the Treasury Department to review President Trump’s investment partners and business associates to assess whether there are violations of anti-terrorist financing, sanctions, or money laundering laws.
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The Filing Cabinet Blog
Treasury and Commerce Further Amend Cuba Sanctions Regulations
Jaclyn Jaeger | January 27, 2016
The Department of the Treasury’s Office of Foreign Assets Control and the Department of Commerce’s Bureau of Industry and Security recently published amendments to the Cuban Assets Control Regulations to further implement policy change amendments to the Cuban Assets Control Regulations laid out by the president in December 2014. These amendments remove existing restrictions on financing terms for authorized exports and re-exports to Cuba of items other than agricultural, and they establish a case-by-case licensing policy for exports and re-exports.
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The Filing Cabinet Blog
Treasury Issues Amendments to Cuba Sanctions
Jaclyn Jaeger | January 16, 2015
The Department of the Treasury’s Office of Foreign Assets Control and the Department of Commerce today published amendments to the Cuban Assets Control Regulations to implement policy changes announced by the President last month. The newly revised regulations, in part, allow a number of activities related to telecommunications, financial services, trade, and shipping. Details inside.
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The Filing Cabinet Blog
Trump implements Magnitsky Human Rights Accountability Act
Joe Mont | January 3, 2018
The Trump Administration has launched a new sanctions regime targeting human rights abusers and corrupt actors around the world. It builds upon the Global Magnitsky Human Rights Accountability Act passed by Congress last year.
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The Filing Cabinet Blog
Conflict Minerals Trade Added to Sanctions Criteria
Joe Mont | July 14, 2014
Companies, scrambling to identify conflict minerals from the Democratic Republic of the Congo that may enter their supply chains, now have more to worry about. President Obama issued an executive order last week that adds individuals and groups tied to the illicit trade of natural resources from the region to the U.S. sanctions list.
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The Filing Cabinet Blog
ZTE agrees to $1.4B settlement with ‘stringent compliance measures’
Joe Mont | June 7, 2018
Chinese telecom giant ZTE Corp. has agreed to “severe additional penalties and compliance measures” to replace a U.S. Commerce Department’s denial order.
Displaying 16 results