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Commerce Department s New ICTS Rule Raises Additional Considerations for Cross-Border Transactions | Pillsbury - Global Trade & Sanctions Law

The scope of prohibited ICTS Transactions include transactions between U.S. persons and a “ person owned by, controlled by, or subject to the jurisdiction or direction of a foreign adversary.” The definition of this category of persons includes the following: Any person, wherever located, who acts as an agent, representative, employee, or any other capacity at the order, request, direction, or control of a foreign adversary; A person whose activities are directly or indirectly supervised, directed, controlled, financed or subsidized in whole or in majority part by a foreign adversary; Any person wherever located who is a citizen or resident of a nation-state controlled by a foreign adversary;

New DOD Trusted Capital Program Provides Investment Opportunities | Wiley Rein LLP

To embed, copy and paste the code into your website or blog: WHAT: The U.S. Department of Defense (DOD) has established a new voluntary program designed to match critical technology companies with vetted sources of private capital. WHEN: On December 1, 2020, DOD issued a Request for Comment on the Trusted Capital initiative; comments are due February 1, 2021. On January 13, 2021, DOD formally announced the establishment of the Trusted Capital Digital Marketplace. WHAT DOES IT MEAN FOR INDUSTRY: Companies in the Defense Industrial Base (DIB) seeking investments may consider this initiative to gain access to vetted sources of capital and potentially lessen the risk of a transaction drawing scrutiny from U.S. regulators in the context of foreign investment reviews and other related processes.

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