Tag Archives: due diligence

Clearing the Air: FinCEN Guidance May Help Banks Find Their Way in the Field of Hemp Financing

On June 29, 2020, the Financial Crimes Enforcement Network (FinCEN) published updated guidance intended to “enhance the availability of financial services” for the hemp industry (the Guidance).  Even though the Agriculture Improvement Act of 2018 legalized hemp[1] at the federal level, some banks have hesitated to provide financing to the hemp industry because they are … Continue Reading

DOJ Issues Opinion, Provides (Some) Comfort on Successor Liability

In a recent Opinion Procedure Release (OPR), Number 14-02, the U.S. Department of Justice expressly limited successor liability for a US company purchasing a non-US company that had paid bribes in the past.  In so doing, DOJ may have given a little bit of comfort to US companies and issuers thinking about purchasing non-US companies.  … Continue Reading

Beyond the Checklist: Seven Keys to Effective Trade Due Diligence

Anti-corruption due diligence can be vexing even in the best of conditions; it is often made more complicated by time and business pressures that arise in the context of a merger or acquisition or an urgent sales opportunity.  Anti-corruption compliance is always fact-intensive, and due diligence is no exception, requiring many judgment calls about what … Continue Reading

Accounts and Accountability: Arab Bank Found Liable for Transactions Under the Anti-Terrorism Act

On September 22, 2014, a Brooklyn jury found Arab Bank, Jordan’s largest lender, guilty of violating the U.S. Anti-Terrorism Act for providing financial services to individuals and entities linked to Hamas. Hamas is currently designated as a terrorist organization by the U.S. Treasury Department, Office of Foreign Assets Control (OFAC), and is listed on the … Continue Reading

On The List, Off The Menu: How 5 Major ITAR Shippers Disappeared

By: Reid Whitten and Scott Maberry How did five of the most prominent freight forwarders shipping goods subject to the International Traffic in Arms Regulations (ITAR), suddenly become ineligible as carriers for ITAR exporters? The answer begins with a Sherman Antitrust action by the U.S. Department of Justice and ends, for the moment, with a major gap in logistics, supply chain, and transport for companies manufacturing, trading, or exporting ITAR-controlled products.… Continue Reading
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