Successfully Held the Seminar on the Possible Impact of Recent OFAC Initiatives on Chinese Businesses

On March 22, 2024, Dacheng Capital Market Committee and the Capital Market Team of its Beijing Head Office successfully held a seminar on the "Possible Impact of Recent New Initiatives of the U.S. Department of the Treasury and OFAC on Chinese Enterprises".

Mr. Perry Bechky, a partner from Berliner Corcoran & Rowe LLP, and Ms. Li Li, a partner from Dacheng's Beijing Office, were invited to introduce to Chinese businesses the possible impact on the international financial and international trade businesses of Chinese businesses of a series of new measures recently taken by the Office of Foreign Assets Control of the U.S. Department of the Treasury ("OFAC"), in order to provide compliance reference for Chinese businesses in international financial and international trade businesses under new situations. In practice, the new measures of OFAC have affected some enterprises engaged in foreign-related businesses, which have not only affected their foreign-related businesses, but also triggered commercial risks and potential disputes in transactions with other Chinese enterprises. Most of such disputes exist in such business areas as insurance, banking and finance. The seminar was held online, attracting nearly 2500 online viewers, and won praise and praise of many audiences.

Perry Bechky has nearly 30 years of experience. He began his career with the U.S. Department of the Treasury and has worked in the offices of OFAC, the General Administration of Customs, the U.S. Attorney's Office, and the U.S. Treasury Department. Prior to joining BCR, Perry worked for a well-known international leading law firm for many years. Perry's practice covers economic sanctions, export control, and CFIUS global review with clients from more than 50 countries on five continents. Perry is an expert in U.S. sanctions and handles the full range of economic sanctions for his clients. He is a well-known scholar of international law and sanctions, and has published articles in well-known academic journals. He has held several leadership positions in the American Society of International Law and delivered regular lectures for the Foreign Service Institute and the International Law Research Center, both affiliated with the U.S. Department of State. He has also been invited to deliver lectures on U.S. sanctions and CFIUS global review for PRC lawyers sent to the United States by the PRC Ministry of Justice to study in the United States.

Ms. Li has more than 10 years of experience, and focuses her practice in cross-border dispute resolution and compliance areas. In the area of cross-border dispute resolution, she mainly provides legal services for international commercial arbitration and cross-border litigation. In the area of cross-border compliance, she provides legal services relating to U.S. sanctions, export control, multilateral bank sanctions, and outbound investment compliance, etc.