Insights

Washington – January 26, 2022: Crowell & Moring’s International Trade Group has been named a Practice Group of the Year for 2021 by Law360. This marks the fourth year the group has been recognized by the publication with this distinction.

Washington, D.C. – January 13, 2015: Crowell & Moring LLP is pleased to announce the publication of its third annual "Litigation Forecast: What Corporate Counsel Need to Know in the Coming Year," and the introduction of its first-ever "Regulatory Forecast 2015: What Corporate Counsel Need to Know in the Coming Year."

Washington, D.C. – January 7, 2015: Crowell & Moring LLP is pleased to announce that three partners, Cheryl A. Falvey, Teresa Stanek Rea, and Janet Levine have been profiled in three editions of the 2014 National Law Journal "Trailblazers & Pioneers" series. Washington, D.C.-based Falvey was featured in the "Governance, Risk & Compliance Trailblazers & Pioneers" in July. Rea, also based in the Washington, D.C. office, was named among the "Intellectual Property Trailblazers & Pioneers" in October; while Los-Angeles-based Levine was profiled in the most recent feature "Litigation Trailblazers & Pioneers," which published in December.

On March 29, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”), issued a “notice and request for information and comment” (“RFI”) seeking comments on the Bank Secrecy Act’s (“BSA”) customer identification program (“CIP”) rule.  The CIP rule requires U.S. banks to collect a taxpayer identification number (“TIN”) from a U.S. person before opening a new account for that person.  For individuals, this TIN will be a Social Security number (“SSN”).

On July 26, 2023, the U.S. Department of Justice (“DOJ”), the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”), and the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued a Tri-Seal Compliance Note outlining their respective voluntary self-disclosure (“VSD”) procedures for potential violations of U.S. export controls and sanctions.  This announcement highlights the agencies’ focus on compliance with export controls, sanctions, and other U.S. national security laws, and reminds industry of the incentives for voluntarily disclosing potential violations, including mitigation of civil and criminal penalties. 

On March 24, 2023, the Financial Crimes Enforcement Network (“FinCEN”) released much-anticipated public guidance materials regarding its new beneficial ownership information reporting requirements, which will take effect January 1, 2024, pursuant to a final rule promulgated by FinCEN on September 30, 2022 (the “BOI Final Rule”).  87 Fed. Reg. 59,498. The BOI Final Rule requires certain U.S. companies and foreign companies registered to do business in the U.S. to file reports with FinCEN that identify the entity’s beneficial owners and the persons who applied to create or register the entity. The BOI Final Rule implements the beneficial ownership information (“BOI”) reporting provisions of the Corporate Transparency Act (“CTA”), enacted by Congress as part of the Anti-Money Laundering Act of 2020 in the National Defense Authorization Act for Fiscal Year 2021. 

Crowell & Moring LLP's International Trade Group was featured in a WorldECR special report examining the importance of Washington, D.C. in the U.S. and international export controls and sanctions landscape. The report talked with Crowell & Moring attorneys and other leading lawyers about the impact of U.S. Export Control Reform on real-life business, U.S. sanctions policy and practice, and other issues. WorldECR is the journal of export controls and sanctions.

International sanctions and money laundering make headlines on a regular basis, but is there anything a Southern California company should worry about? Join us for an interesting hour-long CLE presented by Crowell & Moring covering what any Southern California company should know about the government’s increasing enforcement and scrutiny in these areas, recent relaxations of some sanctions, how sanctions and anti-money laundering (“AML”) regulations affect SoCal businesses in particular, and tips on creating and updating effective compliance programs to address sanctions and AML risks. 

Please click here for a copy of the presentation. As we discussed in our first This Year in Trade webinar earlier this year, as globalization pushes forward, the potential rewards – from trade, from expansion, from partnerships – have multiplied along with the risks. As a result, companies doing business around the world are facing a variety of important issues affecting their bottom line, including sanctions, export controls, customs, and many others. On Thursday, October 8, 2015 at 12:00 pm Eastern, our Crowell & Moring team will follow up on our February 2015 predictions of the key trade issues to watch globally for 2015 and into 2016.