United States

UK Sanctions Update: Global Anti-Corruption and Russia Regimes

The UK Government has updated its sanctions list under the Global Anti-Corruption regime, varying an entry for Kamlesh Mansukhlal Damji Pattni to expand and clarify the grounds for his designation. Additionally, 297 new designations were made under the Russia sanctions regime, including companies, individuals, and vessels.

Treasury and IRS Simplify Currency Rules for Businesses

The Treasury and IRS have issued Notice 2026-17, announcing proposed regulations to simplify Section 987 currency rules for businesses. Key changes include an equity and basis pool method election and modified rules for recognizing suspended losses, aiming to reduce compliance burdens.

FAR Council Proposes Rule to Ban Semiconductor Acquisition from China

The FAR Council has proposed a rule to implement a statutory prohibition on the federal acquisition of semiconductors manufactured by China and other countries of concern. The rule, stemming from the FY2023 NDAA, includes a proposed disclosure requirement for non-federal sales and seeks public comments.

Florida AG Forms Unit to Combat Foreign Data Threats

The Florida Attorney General has established a new unit, the Consumer Harm from International Nefarious Actors (CHINA) Prevention Unit, to investigate and prosecute foreign companies misusing Floridians' personal data. The unit will focus on companies linked to foreign adversaries, particularly in the healthcare sector, and will investigate money laundering and cyber fraud.

DOJ Names Chicago U.S. Attorney's Office Lead Partner on Trade Fraud Task Force

The Department of Justice has selected the U.S. Attorney's Office for the Northern District of Illinois as a lead prosecutorial partner for its Trade Fraud Task Force. The task force aims to pursue parties evading federal customs laws and smugglers of prohibited goods, utilizing civil and criminal enforcement tools.

Multinational Employers: Large-Scale Workforce Reduction Mistakes

This article highlights common mistakes multinational employers make when planning large-scale workforce reductions in 2026. It emphasizes the critical need for pre-announcement consultations with works councils and government bodies in various jurisdictions to avoid invalid terminations and penalties.

February 2026 Sanctions Developments

Hughes Hubbard & Reed LLP published an update on February 2026 sanctions developments, highlighting the largest individual civil monetary penalty, a penalty against an academic institution, and designations signaling pressure on Nicaragua. The update provides insights into recent enforcement actions and potential future sanctions targets.

SEC Adopts New Insider Reporting Rules for Foreign Private Issuers

The SEC has adopted new rules requiring directors and officers of foreign private issuers (FPIs) to report their beneficial ownership and trades in the issuer's equity securities. These changes, effective March 18, 2026, align FPI reporting with that of domestic issuers and aim to increase market transparency.

SEC Adopts Final Rules for Section 16(a) Reporting by Foreign Issuers

The SEC adopted final rules requiring executive officers and directors of Foreign Private Issuers (FPIs) to report their holdings and transactions in equity securities on Forms 3, 4, and 5. These rules implement the Holding Foreign Insiders Accountable Act and become effective on March 18, 2026.

Venezuela Sanctions Eased, Legal Risk Persists

The US Department of the Treasury's OFAC has eased certain sanctions on Venezuela's oil sector through new general licenses. These licenses authorize specific transactions related to oil, investments, and port operations but come with strict conditions and reporting requirements.