An upcoming fast-track process for certain deals filed with the Committee on Foreign Investment in the U.S. could apply to a broad range of American allies and transactions, although key questions remain about what foreign investors will need to do to qualify, law firms said this month.
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The recent departure of many career employees at the Bureau of Industry and Security and other government agencies hasn’t necessarily translated into less export control and sanctions enforcement activity, lawyers said last week.
At least three companies last week disclosed receiving letters from the Bureau of Industry and Security informing them of new license restrictions they must follow for certain exports to China, including two semiconductor design firms and one oil company.
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Former Bureau of Industry and Security Undersecretary Alan Estevez has joined the board of directors of Almonty Industries, a tungsten mining and production company. Almonty CEO Lewis Black said Estevez's "firsthand experience in acquisition, contracting, and supply chain operations will be especially relevant as we advance our position as a key allied supplier of tungsten." Estevez also became a senior adviser for Covington & Burling after leaving BIS earlier this year (see 2505120044).
Gregory Dunlap, a former special agent in charge of the Bureau of Industry and Security's Office of Export Enforcement, has joined Akin as a senior regulatory adviser. Dunlap most recently oversaw export controls and sanctions investigations at BIS and also worked at DOJ for more than eight years, including in the National Security Division.
Matthew Olsen, who led DOJ’s National Security Division during the Biden administration, has joined WilmerHale as co-chair of the law firm's defense, national security and government contracts practice, he announced on LinkedIn. Olsen will advise on export controls, sanctions, the Committee on Foreign Investment in the U.S., government investigations, congressional oversight and more.
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