Reed Smith LLP
Global Perspectives
AdvaMed Issues Updated Code of Ethics on Interactions with U.S. Health Care Professionals
The Advanced Medical Technology Association (AdvaMed) – the national industry association of medical technology manufacturers – recently issued a revised Code of Ethics on Interactions with Health Care Professionals (HCPs) (the AdvaMed Code or Code).
OFAC removes Rusal from SDN list
On Sunday, January 27, 2019, the U.S. Department of Treasury, Office of Foreign Assets Control (“OFAC”) removed UC Rusal plc (“Rusal”), EN+ Group plc (“En+”), and JSC EuroSibEnergo (“ESE”) from its Specially Designated Nationals (“SDN”) List, allowing both U.S. and non-U.S. persons to once again do business with these entities.
Iran Sanctions – United States fully reimposes secondary sanctions
As expected, on November 5 the United States reimposed the final tranche of sanctions on Iran, which had been lifted pursuant to the Joint Comprehensive Plan of Action (“JCPOA”) in 2016. The vast majority of these sanctions are “secondary sanctions”, being those which target non-U.S. persons and companies even where there is no U.S. nexus (e.g. the use of USD; U.S.-persons; or U.S. goods). The secondary sanctions, as we highlight below and as further explained in our previous blogs, cover a variety of goods and services, as well as prohibitions on dealings with certain individual persons and entities. While exceptions for humanitarian goods, agricultural products, medicine and medical devices remain in place, entities may find doing even this kind of business in Iran more challenging due to restrictions on the Iranian banking industry. When taking decisions about whether to enter into or continue Iran-related trade, EU companies must also weigh the risk of circumventing the EU’s so-called “blocking” statute.
The sandbox goes global – Launch of the Global Financial Innovation Network
The UK’s Financial Conduct Authority (FCA) has announced the launch of the Global Financial Innovation Network (GFIN), an association of 29 regulatory bodies (Members) which will cooperate to promote innovation and share experiences and approaches to supervising new technologies in the financial services sector. The proposal to launch the GFIN was set out in a...… Continue Reading
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Are cookies personal data?
Are cookies personal data? What do I have to consider if I want to use profiling or retargeting? Munich partner Dr. Andreas Splittgerber answers these and many other burning questions around GDPR in an interview series with Co-Founder of Usercentrics, Lisa Gradow.
Notable News
- Reed Smith’s Transportation Industry Group wins two accolades at the Global Transport Finance Awards
- The greatest challenges facing the shipping industry
- Reed Smith celebrates 2019 with 43 new partners and 32 new counsel worldwide
- Reed Smith receives Firm of the Year accolades from The Asian-mena Counsel