Foreign Investments and Trade Regulations

Selected Experience Related to U.S. Economic Sanctions and Anti-Money-Laundering Issues 

• TD Bank, in connection with an investigation of TD Bank’s anti-money-laundering controls and compliance with the Bank Secrecy Act by the Office of the Comptroller of the Currency (OCC) and Financial Crimes Enforcement Network and with the SEC for related violations of sections 17(a)(2) and (3) of the Securities Act of 1933.
• HSBC Group, in connection with criminal and regulatory investigations of its historical Office of Foreign Assets Control (OFAC) sanctions and anti-money-laundering compliance programs.
• Citibank, regarding issues relating to a consent order issued by the OCC regarding anti-money-laundering and U.S. economic sanctions compliance.

• Standard Chartered Bank, in deferred prosecution agreements with the Department of Justice and the Manhattan District Attorney’s Office and regulatory settlements with the New York State Department of Financial Services, the Federal Reserve and OFAC, all related to OFAC sanctions and anti-money-laundering compliance.
• various financial institutions and other clients, in connection with economic sanctions compliance and anti-money-laundering in the context of various international trade and investment matters, such as bank loans, securities underwritings and offerings; the conduct of banking operations; and in the context of mergers and acquisitions, joint ventures and other investment activities.

Selected Experience in Foreign Corrupt Practices Act Investigations 

• a major European oil company, in investigations by the Department of Justice, Securities and Exchange Commission and U.K. Serious Fraud Office into alleged violations of the FCPA and U.K. Bribery Act arising from the company’s joint ventures on multiple continents.
• one of the world’s largest multinational automotive manufacturing companies, in a review by U.S. and U.K. regulators of the company’s automobile and parts supply chains into various markets, including Russia, Belarus, Poland, Finland, Japan, Ukraine and China.
• a U.S. subsidiary of a foreign company that provides aviation services and aftermarket support to commercial, general and government aircraft operators, in a DOJ investigation into alleged FCPA violations. The DOJ is primarily focused on the U.S. subsidiary’s business activities in Latin America. 
• a major engineering and electronics conglomerate, in entering into a settlement with the U.S. Securities and Exchange Commission to resolve FCPA charges relating to conduct by a former employee. The SEC did not impose a civil money penalty and did not bring charges based on the anti-bribery provision of the FCPA.
• a major international energy company, in multiple investigations into alleged violations of the FCPA in North Africa, the Middle East and Central Asia.
• a U.S. subsidiary of a Japanese company, in connection with FCPA compliance and with internal investigations of allegations of FCPA violations.

Selected Experience Involving Other Foreign Investment Issues and Regulatory Agencies

• Barclays, ING Group, HSBC Group and Standard Chartered Bank, in the successful resolutions of multiagency criminal and regulatory investigations relating to their compliance and economic sanctions and/or anti-money-laundering regulations.
• Koninklijke Philips Electronics, in entering into a settlement with the U.S. Securities and Exchange Commission to resolve Foreign Corrupt Practices Act charges relating to conduct by former employees of a Polish subsidiary of Philips.

Selected Experience Involving Matters Related to Committee on Foreign Investment in the United States (CFIUS) Review of Foreign Investment Transactions

• Buyers and sellers in various industries, in connection with CFIUS reviews of foreign investment, including companies in the financial institutions sector, the semiconductor and semiconductor fabrication sectors, the power generation sector, the energy exploration sector and the transportation sector, some of the most sensitive sectors for the purposes of national security reviews.
• Cymer, on CFIUS matters related to its merger with ASML Holding pursuant to which ASML acquired all of the outstanding common stock of Cymer in a transaction valued at approximately $3.9 billion.