The Treasury Department’s Financial Crimes Enforcement Network is seeking public comments on whether it should implement a no-action letter process, the agency said in an advance notice of proposed rulemaking. No-action letters, which are used by other enforcement agencies to indicate their “intention not to take or recommend enforcement action against the submitting party,” could help FinCEN add to its existing public guidance and help promote a “robust and productive dialogue with the public,” the agency said. But it also could present “legal and practical challenges,” FinCEN said, especially if one of its no-action letters overlaps with actions underway by other agencies’ authorities. Comments are due by Aug. 5.
The Los Angeles and Long Beach ports again postponed by a week a new surcharge meant to incentivize the movement of dwelling containers (see 2110280031), the two ports announced June 3. The ports had planned to begin imposing the fee in November 2021 but have postponed it each week since. The latest extension delays the effective date until June 10.
The State Department’s Directorate of Defense Trade Controls this week posted the minutes and white papers from its April Defense Trade Advisory Group plenary (see 2204290032). The white papers include presentation information and recommendations from three DTAG working groups, including a recommendation for a new International Traffic in Arms Regulation exemption, recommendations for clarifications and corrections to certain ITAR definitions, and a report on ITAR-related challenges for controlled unclassified information.
The Bureau of Industry and Security extended the public comment period by an additional 30 days for an information collection related to its export license application process. BIS originally requested comments by May 24 (see 2203240002).
The Treasury Department posted the agenda and speakers for its inaugural conference on the Committee on Foreign Investment in the U.S. The June 16 conference will feature a keynote speech from Deputy Secretary Wally Adeyemo and includes several panels with U.S. foreign investment screening officials.
The Bureau of Industry and Security this week issued an editorial correction for a Russia-related entry on the Entity List. The change fixes the entry for Kaliningradnefteprodukt OOO.
Dutch semiconductor equipment manufacturer ASML is planning a $200 million expansion of its Connecticut chip facility, the Commerce Department said this week. The site is already the company’s largest American research, development and manufacturing facility, and the expansion is expected to help the company meet “projected demand in the years ahead,” ASML CEO Peter Wennink said. The announcement comes as Congress looks to pass the Bipartisan Innovation Act, which would include incentives and funding for the semiconductor industry.
U.S.-based TuSimple Holdings, which provides self-driving truck and autonomous freight shipping technology, recently entered into a national security agreement with the Committee on Foreign Investment in the U.S. involving a 4-year-old transaction (see 2111230075). The NSA includes restrictions on the company’s data sharing and requires the company to “periodically meet with and report” to CFIUS monitoring agencies, according to a recent SEC filing.
The State Department approved three potential military sales -- to Egypt, the Netherlands and Australia -- worth more than $3 billion combined, the Defense Security Cooperation Agency said May 26.
Requests for action from the Office of the U.S. Trade Representative should go beyond asking USTR to go and fix a problem via the World Trade Organization, USMCA or other dispute settlement system, said Daniel Stirk, senior associate general counsel at the agency. Speaking on a panel at the Georgetown International Trade Update, Stirk said that instead, trust that the office is already aware of the issue and is taking steps to solve it, and if you still decide to approach USTR, come with thoughtful solutions.