1. Compliance with OFAC regulations is crucial from a business, financial and reputational-risk perspective.

    — Complying with Economic Sanctions Is Critical to Businesses

  2. In the past two years, environmental non-governmental organisations (NGOs) have attempted to block Ex-Im Bank funding for a number of foreign projects. […] These challenges seek to apply US environmental laws to non-US projects, and force Ex-Im Bank to analyse the local environmental effects of those projects before making financing decisions.

    — Attorneys Rebecca Campbell, Neal McAliley, and John Tivey of White & Case on legal challenges that could derail the US Ex-Im Bank’s ability to fund foreign mining projects

  3. There is growing international pressure to build on the initiative taken by the United States, as evidenced by recent projects advanced by the OECD and comments made by public officials about the possibility of a multinational consensus on international information exchange.

    — International Disclosure Obligations: “Beyond FATCA” - Further Developments in the Laws On Automatic Information Exchange and Disclosure in the Wake of FATCA (Proskauer Rose) 

  4. Compliance Roundup

    Robust programs, anti-bribery training, enforcement actions, and more… Here’s what we’re reading now in compliance:

    —-

    On the go? Our new mobile magazine will help you navigate the world of compliance and regulation, wherever you are. Subscribe here: Compliance Officer

  5. 7 Compliance Updates You Should Read Today

  6. Aspects of the [Basco] settlement highlight certain risks posed by the False Claims Act that compound general U.S. enforcement of trade laws, and a reminder that diversion for inbound products to the United States may be a significant compliance issue for companies to be aware of.

    — Attorneys Mark Jensen and Ryan Roberts of Sheppard Mullin on the US government’s use of the False Claims Act to enforce international trade regulations

  7. While the majority of this year’s actions focused on Iran, OFAC continued to announce a number of designations made under the other US sanctions programs, including those targeting terrorism, transnational criminal organizations, and narcotics traffickers. OFAC also announced a handful of settlements stemming from apparent sanctions-related violations…

    — Attorneys from Shearman & Sterling on the interim agreement with Iran; enforcement actions against Weatherford, Royal Bank of Scotland, and HSBC; and other sanctions-related developments in Q4 of 2013.

  8. What's New in International Privacy Law? This...

    From Corporate Law Report:

    Read more on Privacy at JD Supra Business Advisor»

  9. After the first quarter of 2013, the Department of Justice prosecutors unleashed a prosecution storm that was unmatched in the strength of the cases, the breadth of the prosecutions, and the responsible exercise of prosecutorial discretion.

    — White collar attorney Michael Volkov on why he has named the Prosecutor as the 2013 FCPA Person of the Year

  10. News from the world of anti-money laundering enforcement:

In this issue we look at the European Union’s action plan to tackle organised crime, corruption and money laundering and the recent injunction temporarily preventing Barclays from dropping one of Somalia’s biggest remittance providers as a client. We also provide updates of AML issues in the UK and internationally.

Read: Money Laundering Bulletin - Winter 2013»

    News from the world of anti-money laundering enforcement:

    In this issue we look at the European Union’s action plan to tackle organised crime, corruption and money laundering and the recent injunction temporarily preventing Barclays from dropping one of Somalia’s biggest remittance providers as a client. We also provide updates of AML issues in the UK and internationally.

    Read: Money Laundering Bulletin - Winter 2013»

  11. US Joins International Community in Easing Iran Sanctions, But It's Probably Too Early to Celebrate

    From Corporate Law Report:

    Late last month, the US, along with the four other US Security Council members – China, France, Russia, and the United Kingdom – and Germany, entered into an agreement with Iran that would suspend some of the international sanctions currently in place against the country.

    But it may be too early for US companies to celebrate…

    Read more»

  12. [C]ompanies must review which countries [they are] doing business with and ensure that the “umbrella” policy covers all those countries’ anti-corruption laws.

    — Attorney Brett Johnson of Snell & Wilmer on what the proliferation of anti-corruption laws around the world means to multinational companies.

  13. Some issuers who are required to progress far enough down the conflict minerals decision tree may be unable, after performing due diligence, to determine whether conflict minerals in relevant products financed or benefitted armed groups. While such issuers will still be required to file a conflict minerals report, for a period of time those issuers will be able to describe their products as ‘DRC conflict undeterminable.’

    — Attorney Jill Radloff of Leonard, Street and Deinard on the meaning of “DRC conflict undeterminable” in conflict mineral reports.

  14. The FCPA may have its flaws, but it is not anti-business.

    — Attorney Randy Stephens of NAVEX Global disagrees with the chair of Penn National Gaming that US companies are unfairly limited around the world by the country’s anti-corruption laws

  15. Add Canada to the list of countries that require disclosure of resource extraction payments

… the Canadian government announced its intention to introduce new legislation requiring the disclosure of payments made by Canadian extractive resource companies to domestic and foreign governments. While the United States and European Union have both already taken steps towards implementing mandatory payment reporting requirements for their mining, oil, and gas companies, Canada has now also joined the global movement towards transparency in this regard.

Read: Canada Joins the Global Push towards Mandating Disclosure of Payments to Governments»

    Add Canada to the list of countries that require disclosure of resource extraction payments

    … the Canadian government announced its intention to introduce new legislation requiring the disclosure of payments made by Canadian extractive resource companies to domestic and foreign governments. While the United States and European Union have both already taken steps towards implementing mandatory payment reporting requirements for their mining, oil, and gas companies, Canada has now also joined the global movement towards transparency in this regard.

    Read: Canada Joins the Global Push towards Mandating Disclosure of Payments to Governments»