The WTO gains two new members as Ministers approve Comoros and Timor-Leste’s WTO membership at MC13 buff.ly/3SWl7UB

Many companies will need to file a report identifying its beneficial owner(s), which is an individual who owns or controls at least 25 percent of a company or has substantial control over the company buff.ly/4bEzIMZ

FinCEN’s Small Entity Compliance Guide guides companies through the process of determining whether they meet or are exempted from its Beneficial Ownership Information reporting requirements buff.ly/4bLhvgt

A company organized under the laws of a foreign country and registered to do business in the U.S. may be required to file a Beneficial Ownership Information report as a “foreign reporting company” buff.ly/48xoh72

A company created under the laws of a U.S. state, territory, or Indian tribe that does not fall within the 23 exempt categories of the Beneficial Ownership Information Reporting rule should actively explore whether it is required to file a report buff.ly/48nMyMK

The Beneficial Ownership Information Reporting Rule exempts such entities as securities/commodities trading, financial and insurance institutions, public utilities, large operating companies, and tax exempt entities - buff.ly/48qkTdO

Most small domestic and foreign-owned companies operating in the U.S. will likely need to file a Beneficial Ownership Information report buff.ly/3ORIjBV

FinCEN finalized the Beneficial Ownership Information Reporting Rule in September 2023 and this post explains its key provisions and how they impact small businesses buff.ly/3OSp3Ey

The provisions of the new Corporate Transparency Act are part of USG efforts to make it more difficult for “bad actors to hide or to benefit from their ill-gotten gains through shell companies or other opaque ownership structures” buff.ly/3SOfJT5

The Corporate Transparency Act (CTA) enacted in 2021 created new reporting requirements to reveal more about the individuals behind the over two million companies being formed in the U.S. each year. buff.ly/3ORkxWZ

As of January 1, 2024, many domestic and foreign companies operating in the U.S. are required to file a Beneficial Ownership Information (BOI) report to the Financial Crimes Enforcement Network (FinCEN) in the US Department of Treasury buff.ly/42PoWz6

A robust export compliance program is a must in today’s complex landscape. buff.ly/3QwBEgr

The US CHIPS and Science Act of 2022 (the “CHIPS Act”) allocates US $280 billion over the next ten (10) years to support the domestic manufacture of semiconductors, but recipients will face limits on their ability to expand manufacturing capacity in China buff.ly/3Mv4XiA

Despite controls on US exports to China, the Huawei Mate 60 Pro, a Chinese smartphone powered by an advanced chip, was unveiled this year prompting investigations by the U.S. buff.ly/49t9BHx

While the “Five Eyes” countries have expressed concern about China they have not taken joint action on this issue as they did with regards to Russia buff.ly/3QPb4R6

Can the US controls on the export of its technology to China be effective without also harming US industry? buff.ly/3SwWuyU

Recent US actions also aim to limit the outflow of US capital in key sectors to China. buff.ly/3QOUaCh

The US introduced new regulations in October, 2023 which extended controls of exports to China to new advancements, including artificial intelligence (AI) buff.ly/4625eQN

The focus of new US controls on export to China is to restrict China’s ability to obtain advanced computing chips, develop and maintain supercomputers, and manufacture advanced semiconductors buff.ly/40yeXxk