Media Coverage
Source: Financial Times
Media Coverage
06.19.13
Last month, the U.S. State Department issued its final “Responsible Investment Reporting Requirements” for Myanmar (also known as Burma), which include requirements for regular detailed reporting on investments worth more than $500,000. Companies engaging in business transactions with individuals or entities on the U.S. “black list” will face stiff penalties.
Washington, D.C.-based Aaron Hutman, an attorney in Pillsbury’s international trade practice, said that the new rules provide an interesting contrast. “While the EU, Canada and Australia have largely dismantled their sanctions regimes, the US has maintained controls and is permitting new investment subject to reporting and transparency.”
“It will be interesting to see what impact this has in practice. Our clients are paying close attention,” Hutman commented.
To read more about the “Responsible Investment Reporting Requirements,” visit: United States Issues Final Investment Reporting Requirements for Burma/Myanmar.