Practice/Industry Group Overview
Energy trading and investment in energy-related projects in the Middle East, Caribbean and other markets necessarily involves careful consideration of U.S. trade laws prohibiting transactions with the governments, nationals, products and vessels of sanctioned countries. Our lawyers regularly counsel and assist U.S. and foreign clients on the sanctions programs administered by the Office of Foreign Assets Control and their application to trading and commercial transactions.
Our lawyers' extensive experience on trade issues also includes extraterritorial sanctions laws such as Helms-Burton and the Iran-Libya Sanctions Act, United Nations sanctions, anti-boycott laws, anti-bribery statutes, short supply controls and other export restrictions. We counsel firms with multinational operations regarding acquisitions and investments where trade sanctions come into play and assist them in obtaining specific licenses from the Treasury Department to enter into transactions otherwise subject to regulatory prohibitions or with respect to blocked property. We develop in-house compliance programs, trading guidelines and give seminars to traders, lawyers and operations personnel. We advise clients on contract documentation where protective measures are necessary to ensure compliance with anti-boycott, foreign corrupt practices and sanctions laws. We represent both energy and non-energy clients before the Office of Foreign Assets Control in defending notices of violation and settlement of enforcement actions.
Articles Authored by Lawyers at this office:
NY DFS Publishes Revised Proposed Cybersecurity Rules for Financial Services Companies
Mark D. Herlach,John S. Pruitt,Stephen E. Roth,Cynthia R. Shoss,Phillip E. Stano, January 02, 2017
On December 28, 2016, the New York Department of Financial Services (the DFS) published a revised proposed cybersecurity regulation (the Revised Regulation) for further public comment. First published in September 2016, the Revised Regulation is a culmination of three years of work by the DFS to...
Enhanced Cyber Risk Management Standards Announced in Joint Rulemaking Initiative by Treasury, Federal Reserve, and FDIC
Mark D. Herlach,John S. Pruitt,Stephen E. Roth,Cynthia R. Shoss,Phillip E. Stano, December 29, 2016
On October 19, 2016, the three major federal banking regulators announced a joint advance notice of proposed rulemaking (ANPR) for enhanced cyber risk management standards (Enhanced Standards) for large and interconnected federally regulated financial institutions and their third-party service...
The Deadline for Compliance With the U.S. Variation Margin Rules Is Approaching! Are You Ready?
Brian Barrett,James M. Cain,Catherine M. Krupka,David T. McIndoe,Paul Sinnott, December 21, 2016
The requirement that non-cleared swaps be fully margined, which is one of the last pillars of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), will take effect for “financial end-users” on March 1, 2017. Compliance with the new requirements will...
Amendment to Criminal Procedure Rule 41 Impacts Data Privacy in U.S. and Abroad
Mark D. Herlach,Francis X. Nolan,Robert D. Owen,Phillip E. Stano,Mary Jane Wilson-Bilik, December 06, 2016
On December 1, 2016, amended Rule 41 of the Federal Rules of Criminal Procedure (FRCP) went into effect, thus expanding federal law enforcement’s power to search and seize electronic data. The new rule will allow law enforcement to seek a warrant from a “magistrate judge with authority...
Undoing the Clean Power Plan
Joshua L. Belcher,Samina M. Bharmal,Jay Holloway,Liz Williamson, November 23, 2016
The election of Donald J. Trump as the next President of the United States appears to have dealt certain defeat for the Obama Climate Action Plan. Central to that effort was the Clean Power Plan, finalized by the U.S. Environmental Protection Agency (EPA) in 2015, which would have imposed...
Federal Court Orders EPA to Evaluate Job Losses from Air Regulations
Joshua L. Belcher,Samina M. Bharmal,Jay Holloway,James A. Thompson,Liz Williamson, October 20, 2016
On October 17, the U.S. District Court for the Northern District of West Virginia ruled in favor of Murray Energy Corporation (Murray) in its section 321 suit against the U.S. Environmental Protection Agency (EPA). The court ordered that EPA must evaluate the job loss consequences of its air...
NY DFS Announces Proposal for Cybersecurity Rules for Financial Services Companies
Mark D. Herlach,John S. Pruitt,Stephen E. Roth,Cynthia R. Shoss,Phillip E. Stano, September 22, 2016
On September 13, 2016, New York Governor Andrew Cuomo announced a proposal by the New York Department of Financial Services (the DFS) of a rule that establishes cybersecurity requirements for financial services companies regulated by the DFS (the NY Regulation). The NY Regulation is the culmination...
Lumber War May Be Imminent
Mark D. Herlach,Gregory S. Kaufman,Allison E. Speaker,Ryan R. Weiss, September 16, 2016
Negotiations to keep the peace in the complex and long-running international trade dispute between the United States and Canada over U.S. imports of Canadian softwood lumber appear to have stalled. Parties on both sides of the border are preparing for another round of import relief actions, which...
NAIC Task Force Releases Revised Draft Insurance Data Security Model Law
Mark D. Herlach,John S. Pruitt,Stephen E. Roth,Cynthia R. Shoss,Mary Jane Wilson-Bilik, August 30, 2016
On August 17, the National Association of Insurance Commissioners (the NAIC) Cybersecurity (EX) Task Force (the Task Force) released for comment a revised draft Insurance Data Security Model Law (the Model Law). This Model Law purports to “establish exclusive standards . . . for data security...
TSCA Reform Presents Solutions and Questions for Industry
Samina M. Bharmal,Jay Holloway,Susan G. Lafferty,David M. McCullough,Liz Williamson, June 28, 2016
On June 22, 2016, President Obama signed into law the Frank R. Lautenberg Chemical Safety for the 21st Century Act, the first amendments to the Toxic Substances Control Act (TSCA) since its passage in 1976. The amendments significantly change the way that the U.S. Environmental Protection Agency...
Steelworkers Reverse Course and Withdraw Request for Import Relief on Aluminum
Mark D. Herlach,Allison E. Speaker, April 27, 2016
In an unusual change of course, the United Steelworkers Union (USW) has now withdrawn the Section 201 petition it filed just last week to request temporary relief against imports of primary unwrought aluminum. According to various sources, the USW petition faced opposition from the U.S. and...
Union Seeks Increased Duties on Imported Aluminum
Mark D. Herlach,Allison E. Speaker, April 25, 2016
On April 18, the United Steelworkers Union (USW) petitioned the U.S. International Trade Commission (ITC or Commission) for relief pursuant to Section 201 of the Trade Act of 1974, a safeguard provision of the U.S. trade laws. Under Section 201, a domestic industry can request temporary relief from...
EU-U.S. Privacy Shield - Full Text Released
Daniel E. Frank,Mark D. Herlach,Brian M. Murphy,Robert D. Owen,Brian L. Rubin, March 08, 2016
On February 29, 2016, the European Commission released the text of the EU-U.S. Privacy Shield. The text reveals the details of a new framework that will place stronger obligations on U.S. companies to protect the personal data of EU citizens. It will also involve heightened compliance requirements...