With offices in California, New York and Singapore, MagStone Law, LLP is a modern law firm dedicated to providing solution-focused, cost-effective, and high quality legal services to our clients. We are all experienced lawyers with backgrounds from the most prominent international law firms. Our practice covers all aspects of corporate transactional law, including business formation, financing, licensing, corporate governance, mergers & acquisitions and SEC compliance. We also provide legal services in intellectual property, real estate transactions, tax controversy, litigation and dispute resolution services. Known for our expertise on U.S.-China cross-border transactions, we have become the go-to law firm for many Chinese companies exploring the U.S. market and U.S. companies entering into the Chinese market.
November 4, 2019: Data Protection for Cayman Islands Investment Funds
The Cayman Islands Data Protection Law (the “DPL”) became effective on 30 September, 2019. The DPL governs how a “data controller” may process, use and retain personal data. Please click here to read more.
October 24, 2019: NVCA Recommends More Clarity on Proposed CFIUS Rules
On October 17, 2019, the National Venture Capital Association (“NVCA”) submitted to the Committee on Foreign Investment in the United States (“CFIUS”) eleven comments on the Department of the Treasury’s September 17, 2019 proposed final rules (the “Proposed Rules”) for implementing the Foreign Investment Risk Review Modernization Act of 2018 (“FIRMMA”). In its comments, NVCA highlighted the lack of clarity on the scope of the Proposed Rules and is concerned that the vagueness would make the Proposed Rules overbroad and burdensome. Please click here to read more.
October 17, 2019: 28 China-Based Entities included in BIS List
The U.S. Department of Commerce, Bureau of Industry and Security (“BIS”) recently issued a rule to amend the Export Administration Regulations (“EAR”) by adding twenty-eight additional entities located in China to the Entity List. The rule became effective on October 9, 2019. A copy of the rule, together with the newly added entities, can be viewed here.
For the entities listed in the Entity List, including those newly listed entities, BIS imposes a license requirement for all items subject to EAR and a license review policy of case-by-case review for items under certain Export Control Classification Numbers. BIS has also adopted a license review policy of presumption of denial for license applications to these entities with limited exceptions.
Hot topic: CFIUS and FIRRMA
Hot topic: business compliance
regarding AB5 or how it may impact your company, please contact us.
hot topic: Export Control
entities, BIS imposes a license requirement for all items subject to EAR
and a license review policy of case-by-case review for items under
certain Export Control Classification Numbers. BIS has also adopted a
license review policy of presumption of denial for license applications
to these entities with limited exceptions.
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