Evan Abrams

Subscribe to all posts by Evan Abrams

Trump Administration Uses New Approach in Syria Sanctions Action

On April 24, 2017, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 271 employees of Syria’s Scientific Studies and Research Center (“SSRC”) pursuant to Executive Order 13582 (targeting the Syrian government and its supporters).  The designations are part of the Trump Administration’s response to the April 4, 2017 chemical weapons … Continue Reading

Trump Administration Considers National Security Implications of Steel Imports

On April 19, the Trump administration took action under a rarely-used provision of the Trade Expansion Act of 1962, allowing the United States to impose tariffs if it determines that certain imports pose a national security threat.  Acting under section 232 of the Trade Expansion Act, the Department of Commerce announced the start of an … Continue Reading

New Iran Sanctions Bills Backed by Bipartisan Group of Key Legislators

On March 23, 2017, members of Congress introduced two new bills aimed at increasing non-nuclear sanctions against Iran. While several Iran sanctions bills have been introduced since the start of the year, these newly introduced bills are particularly notable due to their bipartisan support from an influential group of legislators. The bills represent legislative compromises … Continue Reading

Banks to Push for Reform to Anti-Money Laundering Rules

Financial institutions long have complained that current anti-money laundering (AML) regulations are costly and ill-suited to prevent crime and terrorism. According to one study, the cost of compliance with AML rules approaches $8 billion. The rise in compliance costs has coincided with a sharp increase in both the number and amount of penalties assessed by … Continue Reading

CFIUS History Redux: President Obama Blocks Chinese Purchase of Aixtron, Inc.

On Friday, December 2 – for just the third time since the creation of the Committee on Foreign Investment in the United States (“CFIUS”) – the President acted on a recommendation by CFIUS to block a foreign investment. President Obama issued an Executive Order blocking the proposed acquisition of Aixtron, Inc., a California-based U.S. subsidiary … Continue Reading

Dramatic Rise in FinCEN Enforcement

On October 3rd, the Financial Crimes Enforcement Network (FinCEN) assessed a $12 million penalty against the sports betting company CG Technology. Like something out of a bad TV crime drama, CG executives were involved with an illegal gambling operation dubbed the “Jersey Boys.”  CG failed to implement an anti-money laundering (AML) compliance system and to … Continue Reading
LexBlog