Mr. Kniaz is an associate in Davis Polk’s Litigation Department. [Full Bio]

On October 14, 2020, the U.S. State Department submitted to relevant committees of Congress the report required under Section 5(a) of the Hong Kong Autonomy Act of 2020 (“HKAA”). The announcement of the report did not involve the imposition of any new sanctions related to China or Hong Kong, as
Continue Reading Davis Polk Client Memorandum: State Department Sends Hong Kong Autonomy Act Report to Congress

The Committee on Foreign Investment in the United States (“CFIUS”) recently promulgated final regulations that modify the scope of the mandatory declaration rules for transactions involving U.S. businesses involved in certain activities related to critical technologies (“Final Mandatory Declaration Regulations”).

As discussed in our memo available
Continue Reading CFIUS Issues Final Rule Amending Mandatory Declaration Standards

On August 17, 2020, the Bureau of Industry and Security (BIS) at the Department of Commerce announced it was tightening restrictions on Huawei’s access to American technology through a new rule that: (1) further amends BIS’ foreign direct product (FDP) rule to restrict Huawei’s access to items produced using U.S.-origin
Continue Reading Commerce Department Further Clamps Down on Huawei

President Trump signed into law the Hong Kong Autonomy Act and issued a new executive order, which collectively put into place a framework for the U.S. government’s policy response to China’s enactment of a new National Security Law concerning Hong Kong.  Among other things, these new authorities authorize the
Continue Reading President Trump Signs Hong Kong Autonomy Act, Issues Executive Order Authorizing Sanctions and Other Measures

On June 17, 2020, President Trump signed into law the Uyghur Human Rights Policy Act of 2020 (the “Act”). The Act requires the President to submit to Congress within 180 days a report identifying persons responsible for human rights abuses in Xinjiang, and to impose blocking and visa sanctions against
Continue Reading President Trump Signs Sanctions Law to Address Human Rights Violations in China

On May 15, 2020, the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce announced an expansion of General Prohibition No. 3 of the Export Administration Regulations (EAR) to restrict Huawei’s access to semiconductor designs and chipsets that are direct products of certain
Continue Reading U.S. Government Tightens Export Control of Direct Products of U.S. Technologies to Huawei and Dual-Use Items to China, Russia, and Venezuela

The U.S. Department of the Treasury recently released a proposed rule to impose a filing fee for certain CFIUS transactions. If enacted, the proposed filing fee would raise strategic considerations for parties intending to submit a transaction for CFIUS review. Our visual memo discusses this proposal in greater detail.

 
Continue Reading Proposed Rule: Filing Fees for Certain CFIUS Transactions

On January 13, 2020, the U.S. Treasury Department promulgated its final regulations implementing the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) to reform the authority and jurisdiction of the Committee on Foreign Investment in the United States (CFIUS). The final regulations were released in two parts: one addressing
Continue Reading CFIUS Issues Final FIRRMA Regulations

The Supreme Court in Kisor v. Wilkie has declined to overrule Auer v. Robbins and Bowles v. Seminole Rock & Sand Co., instead narrowing deference to a federal agency’s interpretation of its own ambiguous regulations by putting in place new guideposts around its use.  What this means for Auer
Continue Reading Kisor v. Wilkie: Auer Deference Lives On, But In What Form?

The main lesson from the CFPB symposium on “abusive acts or practices” is that there won’t be any clarity anytime soon.  In response to long-lasting concerns from the financial services industry that the indefinite scope and meaning of what amounts to an “abusive” act or practice generates uncertainty and impedes
Continue Reading Additional Clarity Could be Coming on the CFPB’s “Abusive” Acts or Practices Authority—But Don’t Hold Your Breath