On December 28, 2020 the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released Frequently Asked Questions (FAQs) relating to Executive Order 13959, “Addressing the Threat from the Securities Investments that Finance Communist Chinese Military Companies,” issued on November 12, 2020 (E.O.
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Martin Rogers
Mr. Rogers is a partner in Davis Polk’s Litigation Department, based in Hong Kong. [Full Bio]
Davis Polk Client Memorandum: United States Bans Certain Investments by U.S. Persons in Companies Linked to the Chinese Military
On November 12, 2020 President Trump issued a new Executive Order, “Executive Order on Addressing the Threat from the Securities Investments that Finance Communist Chinese Military Companies” (the “November 12 E.O.”) which bans, as of January 11, 2021, certain transactions by any United States person in publicly traded securities …
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Davis Polk Client Memorandum: State Department Sends Hong Kong Autonomy Act Report to Congress
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…
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President Trump Signs Hong Kong Autonomy Act, Issues Executive Order Authorizing Sanctions and Other Measures
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…
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SFC Announces Regulatory Framework for Virtual Asset Trading Platform Operators, Portfolio Managers and Fund Distributors
As we discuss in our memorandum released today and available here, the Hong Kong Securities and Futures Commission (“SFC”) last week took a significant step in its regulation of virtual asset activities by establishing a new, opt-in regulatory sandbox framework for virtual asset trading platform operators, proposing…
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Chinese Arbitration Court Recognizes Bitcoin as Property Protected by Law
On October 25, 2018, the Shenzhen Court of International Arbitration (the “SCIA”) published a case analysis detailing its decision on a business contract dispute involving the possession and transfer of cryptocurrencies. The arbitral panel found that although Bitcoin does not have the legal status equal to currency and…
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