One of the key provisions in the Iran Threat Reduction and Syria Human Rights Act of 2012 is a new SEC reporting requirement regarding certain Iran-related activities. From law firm Loeb & Loeb: “Beginning February 6, 2013, public companies must disclose in annual or quarterly reports to the Securities and Exchange Commission whether the companies… Read more »
The net of international sanctions on Iran and entities that do business with the Iranian regime continues to tighten. For your reference, here’s a roundup of latest commentary and analysis on sanctions imposed by the United States and Europe: U.S. Activity New Iran Sanctions Enacted (BakerHostetler): “The [latest] law, which comes just shy of five… Read more »
On October 9, President Obama issued an Executive Order that makes foreign subsidiaries of U.S. corporations subject to sanctions on doing business with Iran. From law firm King & Spalding: “Under Section 4 [of the Iran Threat Reduction and Syria Human Rights Act], no entity that is owned or controlled by a U.S. person and… Read more »
Earlier this month, President Obama signed into law the Iran Threat Reduction and Syria Human Rights Act of 2012. From law firm Skadden Arps: “The Act is the U.S. government’s latest response to Iran’s illegal nuclear program and the situation in Syria, and it reflects an intensified effort to counter perceived efforts by non-U.S. companies… Read more »
Law firm Dechert has produced a useful overview of the ever-expanding EU sanctions against Iran, Syria, and Belarus and their implications for US companies: “It is a common mistake for businesses to believe that if you are based in the US or compliant with US OFAC provisions, then EU sanctions do not apply to you.… Read more »
In a move that effectively shuts Iran out of the international banking system, the European Union earlier this month adopted a decision that will block specialized financial messaging services to and from Iranian banks. From law firm White & Case: “As a consequence, none of the banks that are included in the asset freeze list… Read more »
Law firm Barger & Wolen reports on California Assembly Bill 2160, legislation designed to block California insurers from making investments in entities that do business with Iran, defined as “indirect investments:” “… Assembly Bill 2160 … would prohibit California domestic insurers from treating indirect Iran-related investments (as defined in the bill) as admitted assets. The… Read more »
This just in from law firm White & Case: - EU tightens Iran Sanctions with embargo on Iranian oil and petrochemicals… …plus new sanctions on precious metals, diamonds and key equipment & technology for the petrochemical sector - New persons and entities added to EU Syria sanctions list (including 5 banks and 3 petroleum companies)… Read more »
