The Russian financial services sector remains a key target of U.S., UK, and EU sanctions. As discussed below, a number of recent such sanctions against Russia and countermeasures by the Russian government have further complicated efforts for investors seeking to
Cleary Gottlieb Steen & Hamilton LLP Blogs
Latest from Cleary Gottlieb Steen & Hamilton LLP
Antitrust Review Episode 35: Looking Back at Commissioner Vestager and Forward to Commissioner Ribera
In the latest instalment of our Antitrust Review podcast, host Nick Levy is joined by colleagues from Cleary Gottlieb’s Brussels office, as well as two veterans of the Brussels scene, Sir Jonathan Faull, who chairs Brunswick’s European Public Affairs Group,
Treasury Issues Final Rule Enhancing CFIUS Mitigation and Enforcement Authority
On November 18, 2024, the U.S. Department of the Treasury (“Treasury”), as Chair of the Committee on Foreign Investment in the United States (“CFIUS”), issued a final rule (the “Final Rule”) that enhances CFIUS’s mitigation and enforcement authority.
OFAC Sanctions Gazprombank, Continues to Target Russian Financial Sector and Foreign Financial Institutions
On November 21, 2024, the U.S. Department of the Treasury, Office of Foreign Assets Control (“OFAC”) designated additional entities operating in the Russian financial services sector, including Gazprombank Joint Stock Company (“Gazprombank”), the largest and, until November 21, most significant
SEC FY 2024 Enforcement Results: Record Dollars But Many Fewer Cases
On November 22, the Securities and Exchange Commission announced its enforcement results for the 2024 fiscal year with a record $8.2 billion in financial remedies.[1] At the same time, a few cases and sweeps comprised the vast bulk
EU Evaluates Standalone AI Liability Directive
For some time, the EU has been contemplating the introduction of a new Directive to make it easier for consumers to bring claims for a range of alleged harms caused by AI systems, commonly referred to as the AI Liability
EU FDI: State Of The Union (2024)
On October 17, 2024, the European Commission (“Commission”) published its forth annual report on the screening of foreign direct investments (“FDI”) into the Union (the “Report”), following previous editions published in October 2023, September 2022 and November 2021. Notable findings
DOJ Antitrust Creates Guidance for Evaluating Antitrust Compliance Programs
On November 14, 2024, the U.S. Department of Justice (“DOJ”) Antitrust Division (the “Division”) released guidance for the Evaluation of Corporate Compliance Programs in Criminal Antitrust Investigations (the “Guidance”). The Guidance will be used by the Division in assessing the
DOJ Antitrust Creates Guidance for Evaluating Antitrust Compliance Programs
On November 14, 2024, the U.S. Department of Justice (“DOJ”) Antitrust Division (the “Division”) released guidance for the Evaluation of Corporate Compliance Programs in Criminal Antitrust Investigations (the “Guidance”). The Guidance will be used by the Division in assessing the
Antitrust Review Episode 34: What to Expect under President Trump
In the latest instalment of our Antitrust Review podcast, host Nick Levy is joined by two veteran observers of US antitrust enforcement – Dave Gelfand, who served as Assistant Attorney-General for Antitrust Litigation at the Department of Justice during President