WorldECR Publishes Akin Gump Article on New CCMC Sanctions Program
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WorldECR has published the article “CCMCs revisited: Biden revises Trump rules on trading China military company shares,” written by Akin Gump international trade partner Wynn Segall, corporate partner Melissa Schwartz, international trade counsel Katherine Padgett and associate Andrew Schlossberg and investment management partner Jason Daniel. The article, adapted from an Akin Gump client alert, discusses the Biden-Harris Administration’s new sanctions program that modifies the Trump-era investment ban on “Communist Chinese Military Companies” (CCMC).
According to the authors, the new “Chinese Military-Industrial Complex Companies” (CMIC) sanctions program follows the basic parameters of the CCMC program, “restricting U.S. persons from engaging in certain kinds of transactions in the publicly traded securities (and derivatives) of designated Chinese entities while providing greater specificity on the restrictions actually imposed and broadening the scope of the listing criteria to reflect stated foreign policy priorities of the Biden administration.”
To read the full article, click here.
