Category — International Community

The Department of Justice (DOJ) and Securities and Exchange Commission (SEC) recently agreed to resolve investigations of Foreign Corrupt Practices Act (FCPA) violations against the following companies: [Read more →]

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“the Act”), recently signed into law by President Obama, contains within its “Miscellaneous Provisions” a passage which could have a broad impact on manufacturers of consumer and other goods.  American manufacturers of goods such as cell phones, lap tops, precision tools, appliances, lightbulbs, medical equipment and machine parts should be aware that the Act imposes new reporting and disclosure requirements requiring them to submit an annual report to the Securities and Exchange Commission (“SEC”) disclosing whether their products contain any of the commonly used minerals columbite-tantalite (coltan), cassiterite, gold, wolframite and their derivatives, as well as any other mineral determined by the Secretary of State to be financing conflict in the Democratic Republic of the Congo or an adjoining country.  If so, the companies must describe what measure they are taking to track the minerals’ origin.  The disclosure must also be made publicly on the firms’ web sites.  [Read more →]

On March 31, 2009, the Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (the “Councils”) issued interim regulations implementing the Buy American restrictions of the American Recovery and Reinvestment Act of 2009 (“Recovery Act”).  These rules form a new section of the Federal Acquisitions Regulations (“FAR”) and add four new contract clauses to be included as appropriate in solicitations involving Recovery Act funds.  Comments on the interim FAR rules will be accepted through June 1, 2009 for consideration in the formulation of final rules.  Final rules will be issued once all comments are reviewed and the Councils finalize any modifications to the interim rules.  It is not certain how long it will be before the final rules are issued.   [Read more →]

The latests news and information relating to economic developments in the international community may be found with these links: [Read more →]