On February 21, President Biden issued an executive order blocking property of certain persons, and prohibiting transactions regarding Russia’s invasion of the Ukraine. The following day, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) issued restrictions on activities with Russian individuals and entities. On February 25, these lists were updated to include political leaders
As we previously reported, Executive Order 14036 (E.O. 14036) required the Treasury secretary, who oversees the Alcohol and Tobacco Tax and Trade Bureau (TTB), to issue a report to the White House Competition Council (the Council) chair, assessing the current market structure and conditions of competition in the U.S. alcohol market.
In response to
In the Agricultural Improvement Act of 2018 (also known as the 2018 Farm Bill), did Congress authorize hemp producers to handle “hot” hemp — cannabis byproducts that surpass the legal limit of delta-9 tetrahydrocannabinols (THC) — during the hemp production process? Or does such material remain a Schedule I controlled substance subject to U.S. Drug
On February 14, the Consumer Financial Protection Bureau (CFPB) updated its Supervision and Examinations Manual to reflect changes it made to the Remittance Transfer Rule (Rule) in a final rule published on June 5, 2020. The changes made to Subpart B of Regulation E, effective July 21, 2020, (1) increased the Rule’s safe harbor for
On February 4, the Department of the Treasury (Treasury) released the “Study of the Facilitation of Money Laundering and Terror Finance through the Trade in Works of Art” (Study). The Study assesses the various risks of the high-value art market based on its propensities for money laundering and illicit financing.
Specifically, the Study
While cannabis legalization moves full steam ahead through much of the Northeast, the southeastern U.S. has been notably slow to uptake major reforms. These states haven’t made major headlines for their progressive cannabis policies, but together they constitute a major market that has, nevertheless, dipped its toe in the water. As such, we thought we’d
Risk and compliance teams are familiar with potential enforcement from federal regulators. But action from state attorneys general (acting alone or in coalition) can take the unsuspecting business completely by surprise. And in recent years, those actions have grown more frequent, and the penalties more severe.
In this article published in Corporate Compliance Insights,
On February 8, a Northern District of California judge ruled on cross motions for summary judgment filed by the states of California, Illinois, and New York (plaintiffs) and the Office of the Comptroller of the Currency and Michael Hsu in his capacity as acting comptroller of the currency (collectively, the OCC) on the validity of
On February 8, Governor Doug Burgum appointed Drew Wrigley as the new North Dakota attorney general. Wrigley was sworn in on February 9, and will serve out the remainder of the four-year term of North Dakota attorney general Wayne Stenehjem, who unexpectedly passed away on January 28. Wayne Stenehjem was a widely respected attorney general
Last month President Joe Biden made headlines when he reiterated his support for “right-to-repair” rules, which he first announced in a July 2021 executive order (discussed in our previous article here). The executive order asked the Federal Trade Commission (FTC or Commission) to draft “right-to-repair” rules to increase consumers’ ability to repair equipment on