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.
January 23, 2020: U.S. Department of Treasury Releases Final Regulations Reforming National Security Reviews for Certain Foreign Investment
On January 13, 2020, the U.S. Department of Treasury (the “Treasury”) issued two final regulations to implement Foreign Investment Risk Review Modernization Act (“FIRRMA”), which, according to the Treasury, “strengthens and modernizes” the national security review of foreign direct investment by Committee on Foreign Investment in the United States (“CFIUS”). Specifically, the Regulations broaden...
January 18, 2020: SEC Proposes to Amend the “Accredited Investor” Definition
The Securities and Exchange Commission (SEC) has recently proposed to amend the definition of “accredited investor”. Qualifying as an accredited investor may enable an investor to participate in private investment opportunities that are generally not available to the general investment public, such as investments in certain hedge funds and private equity funds. Specifically, the SEC proposes ...
January 13, 2020: Software Specially Designed to Automate Analysis of Geospatial Imagery Added to Export Control Classification Number 0Y521 Series
On January 6, 2020, an interim final rule issued by the Bureau of Industry and Security (BIS) amends the Export Administration Regulations (EAR) to make certain items subject to the EAR and imposes a license requirement for the export and reexport of certain items to all destinations, except Canada. Specifically, this rule classifies ...
December 20, 2019: U.S. Department of Commerce Proposes New Rule to Review ICTS Transactions
On November 27, 2019, the U.S. Department of Commerce proposed a new rule (the “Proposed Rule”) pursuant to an Executive Order of May 15, 2019, entitled “Securing the Information and Communications Technology and Services Supply Chain” (Executive Order 13873). The Proposed Rule sets forth the scope, criteria, process and procedures for reviewing certain information and communications technology and services transactions that would pose an undue or unacceptable risk to the national security of the U.S. or to the safety of U.S. persons. Under the Proposed Rule, ...
Hot topic: CFIUS and FIRRMA
Hot topic: business compliance
regarding AB5 or how it may impact your company, please contact us.
hot topic: import and Export Control
December 2, 2019: USTR Announced Exclusion Procedure for Section 301 Tariff List 4A
The U.S. Trade Representative’s (USTR) issued the procedures for parties adversely affected by the List 4A Section 301 China tariffs to seek an exemption on October 24, 2019. List 4 Section 301 China tariffs (US $300 billion trade action) is the fourth round of tariffs on an estimated $300 billion of Chinese goods the U.S. imposed pursuant to USTR’s investigation and determination under Section 301 of the Trade Act of 1974. Goods from China listed under List 4A are subject to an additional 15% tariff effective on September 1, 2019. 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: data protection and privacy
December 6, 2019: California Consumer Privacy Act Set to Become Effective January 1, 2020
California Consumer Privacy Act (“CCPA”), widely applauded to be the most comprehensive consumer privacy legislation in the United States thus far and the US counterpart of the European Union’s General Data Protection Regulation, is set to take effect January 1, 2020. The CCPA covers...
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.
hot topic: merge and acquisition
November 18, 2019: Otto Bock-Freedom Merger Transaction Ordered to be Unwound
On November 6, 2019, the Federal Trade Commission (“FTC”) ordered to unwind a consummated merger between Otto Bock Healthcare North America Inc. (“Otto Bock”) and FIH Group Holdings, LLC (“Freedom”), the largest and third largest manufacturers of microprocessor-driven prosthetic knees (“MPK”) in the United States by revenue. Please click here to read more.
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