By Aaron Nicodemus2021-01-20T22:04:00+00:00
A November executive order by former President Donald Trump banning U.S. investment in companies with ties to the Chinese military has proven difficult for compliance officers to navigate.
On the surface, the order seems straightforward: starting Jan. 11, U.S. investors are barred from investing in the named entities; by Nov. 11, American investors must divest from any stake in the blacklisted companies.
But complying with the order has proven problematic for a number of reasons.
For one, a week before he left office, Trump added eight more companies to the blacklist, bringing the total named entities to 44. The Office of Foreign Assets Control (OFAC) advised the New York Stock Exchange (NYSE) the blacklist includes China Mobile, China Telecom, and China Unicom (Hong Kong) Ltd., which were not included on the original list of blacklisted companies.
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