IHS Markit Consultation Result on the Implementation of the EO 13959 Sanctions in the EMIX Indices
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Executive Order 13959
Executive Order 13959 On November 12, 2020, President Trump signed an executive order (EO 13959) prohibiting the purchase or holding of any securities that invest in Chinese companies with ties to the Chinese Military (“CCMCs”). The following companies and/or securities have been identified under Section 1237 of Public Law 105-261 and is subject to change at any time. The executive order includes publicly traded securities (equities, bonds and other fixed income), as well as derivative products (options, warrants, etc.) and any products designed to provide exposure to the prohibited companies (mutual funds, ETFs, etc.). TD Ameritrade relies on third party firms to execute orders and settle non-U.S. securities trades overseas; these firms may cease accepting orders to trade the impacted securities at any time. In the event this occurs, TD Ameritrade may not be able to execute a buy or sell order in the impacted securities for you. Other financial institutions may also be unable or unwilling to accept incoming transfers of these securities which could limit your ability to transfer them out of TD Ameritrade. Publicly Traded Securities NAME CUSIP SYMBOL EFFECTIVE DATE China Communications Construction Company Y1R36J108 CCCGF 1/04/2021 China Communications Construction Company - Unsponsored ADR 168926103 CCCGY 1/04/2021 CNOOC Limited – ADR 126132109 CEO 2/01/2021 CNOOC Limited Y1662W117 CEOHF 2/01/2021 China Railway Construction Corp Y1508P110 CWYCF 1/04/2021 China Railway Construction Corp - Unsponsored ADR 16947L105 CWYCY 1/04/2021 CRRC Corp. Y1818X100 CRRRF 1/04/2021 Semiconductor MFG – ADR 81663N206 SMICY 2/01/2021 Semiconductor MFG ORDF G8020E119 SIUIF 2/01/2021 CRRC Corporation Limited ADR CRCCY 12651K102 1/4/2021 Privately Held Companies NAME EFFECTIVE DATE Aero Engine Corp of China 1/04/2021 Aviation Industry Corp of China (AVIC) 1/04/2021 China Academy of Launch Vehicle Technology (CALT) 1/04/2021 China Aerospace Science & Industry Corp (CASIC) 1/04/2021 China Aerospace Science & Technology Corp (CASC) 1/04/2021 China Construction Technology Co. -
Defusing Military-Civil Fusion the Need to Identify and Respond to Chinese Military Companies
Defusing Military-Civil Fusion The Need to Identify and Respond to Chinese Military Companies Emily de La Bruyère and Nathan Picarsic May 2021 FOUNDATION FOR DEFENSE OF DEMOCRACIES FOUNDATION Defusing Military-Civil Fusion The Need to Identify and Respond to Chinese Military Companies Emily de La Bruyère Nathan Picarsic May 2021 FDD PRESS A division of the FOUNDATION FOR DEFENSE OF DEMOCRACIES Washington, DC Defusing Military-Civil Fusion: The Need to Identify and Respond to Chinese Military Companies Table of Contents INTRODUCTION ................................................................................................................................ 6 RESPONDING TO BEIJING’S STRATEGY OF MILITARY-CIVIL FUSION ................................. 7 IDENTIFIED COMPANIES ................................................................................................................. 9 Backbone Military-Industrial Groups ...............................................................................................................9 International Infrastructure Players...................................................................................................................13 REMAINING GAPS .............................................................................................................................. 19 Centrally State-Owned Military-Industrial Companies .................................................................................19 Additional Infrastructure Players .......................................................................................................................21 -
NS-CCMC List Changes 2021
OFFICE OF FOREIGN ASSETS CONTROL CHANGES TO THE NON-SDN COMMUNIST CHINESE MILITARY COMPANIES LIST SINCE JANUARY 1, 2021 Non -SDN Communist Chinese Military Companies Issuer Name China Telecom Corporation Engineering Consulting Corp; Listing Date Sanctions List (NS -CCMC List). Limited; Listing Date (CCMC) 08 Jan 2021; (CCMC) 03 Dec 2020; Effective Date (CCMC) 01 Effective Date (CCMC) 09 Mar 2021; Divestment Feb 2021; Divestment Date (CCMC) 03 Dec This publication by the Department o f the Date (CCMC) 08 Jan 2022 [CCMC-EO13959] 2021 [CCMC-EO13959]. Treasury’s Office of Foreign Assets Control (Linked To: CHINA TELECOMMUNICATIONS CHINA INTERNATIONAL ENGINEERING (OFAC) is designed as a reference tool that CORP.). CONSULTING CORP. (CIECC) (a.k.a. CHINA identifies persons sub ject to certain sanctions that CHINA UNICOM (HONG KONG) LIMITED; Equity INTERNATIONAL ENGINEERING have been imposed under statutory or other Ticker CHU US; alt. Equity Ticker 762 HK; Issuer CONSULTING CORP); Equity Ticker ENGINZ authorities, including certain sanctions described Name China Unicom (Hong Kong) Limited; CN; Issuer Name China International in Executive Order 13959, "Addressing the Threat Listing Date (CCMC) 08 Jan 2021; Effective Engineering Consulting Corp; Listing Date from Securities Investments that Finance Date (CCMC) 09 Mar 2021; Divestment Date (CCMC) 03 Dec 2020; Effective Date (CCMC) 01 Communist Chinese Military Companies," as (CCMC) 08 Jan 2022 [CCMC-EO13959] (Linked Feb 2021; Divestment Date (CCMC) 03 Dec amended by Executive Order 139 74 (the CCMC To: CHINA UNITED NETWORK 2021 [CCMC-EO13959]. E.O. s). COMMUNICATIONS GROUP CO LTD). CHINA NATIONAL CHEMICAL CORP LTD (a.k.a. CNOOC LIMITED; Equity Ticker CEO US; alt. -
Executive Order 13959 Securities
Evermore Global Advisors, LLC Statement Regarding Investments in Executive Order 13959 Securities On November 12, 2020, President Trump signed Executive Order 13959, “Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies” (the “EO”)1. The EO states that beginning on January 11, 2021 at 9:30 a.m. EST, U.S. persons, which includes both individuals and entities, will be prohibited from transacting in certain securities and derivatives of Communist China military companies (“CCMCs”), unless such transactions are for purposes of divestment and occur through November 11, 20212. The Treasury Department’s Office Foreign Asset Control (“OFAC”) has published guidance concerning the EO on several occasions, available here: https://home.treasury.gov/policy- issues/financial-sanctions/recent-actions. Pursuant to the EO, Evermore Global Advisors, LLC (the “Adviser”) will not invest in the securities of companies listed in the chart below. In order to ensure compliance with the EO, the Adviser has restricted the purchase of the securities of companies listed in the chart below in its pre-trade compliance software system. Should you have any questions, please contact Lily Simo at [email protected]. 1https://www.whitehouse.gov/presidential-actions/executive-order-addressing-threat-securities-investments- finance-communist-chinese-military-companies; 85 Fed. Reg. 73185 (Nov. 17, 2020). 2“Examples of financial instruments covered by this provision include, but are not limited to, derivatives (e.g., futures, options, swaps), warrants, American depositary receipts (ADRs), global depositary receipts (GDRs), exchange-traded funds (ETFs), index funds, and mutual funds, to the extent such instruments also meet the definition of ‘security’ as defined in section 4(d) of E.O. -
UNITED STATES DISTRICT COURT for the DISTRICT of COLUMBIA LUOKUNG TECHNOLOGY CORP. Et Al., Plaintiffs, V. U.S. DEPARTMENT OF
Case 1:21-cv-00583-RC Document 22 Filed 03/23/21 Page 1 of 31 UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA LUOKUNG TECHNOLOGY CORP. et al., Plaintiffs, v. Case No. 1:21-cv-00583-RC U.S. DEPARTMENT OF DEFENSE et al., Defendants. FIRST AMENDED COMPLAINT FOR DECLARATORY AND INJUNCTIVE RELIEF I. INTRODUCTION 1. In the final week of the Trump Administration, on January 14, 2021, the administration unlawfully and inexplicably designated Plaintiff Luokung Technology Corp. (“Luokung”) as a so-called “Communist Chinese military company” (“CCMC”) by including Luokung on a list of companies designated as CCMCs pursuant to Section 1237 of the National Defense Authorization Act for Fiscal Year 1999 (the “Section 1237 List”). (The announcement and list designating Luokung are attached as Exhibit A hereto.) Luokung is not a CCMC, nor does it meet the statutory definition of a CCMC. Thus, the designation by the Department of Defense (“DoD”) of Luokung as a CCMC (the “CCMC Designation”) was not, and cannot have been, supported by any reasonable basis or accurate evidence. In connection with the CCMC Designation, DoD did not provide any explanation for the designation decision, identify the factual basis on which the designation was based, or provide Luokung with any notice or opportunity to respond and be heard. 2. Pursuant to Executive Order 13959, 85 Fed. Reg. 73185 (Nov. 12, 2020) (attached as Exhibit B hereto), as amended on January 13, 2021, by Executive Order 13974, 86 Fed. Reg. 4875 (Jan. 13, 2021) (attached as Exhibit C hereto) (hereinafter, as amended, “Executive Order Case 1:21-cv-00583-RC Document 22 Filed 03/23/21 Page 2 of 31 13959”), issued by then-President Trump, as a result of the CCMC Designation, United States persons will be prohibited from purchasing publicly traded Luokung securities or derivatives of those securities 60 days after the designation, and must divest their holdings no later than 365 days after the designation (the “CCMC Prohibitions”). -
Table of Contents
Last updated: April 1, 2021 Timeline of Executive Actions on China (2017–2021) This document covers executive actions taken by the Administration of President Donald Trump directed at China. Executive actions include (1) executive orders from the president and (2) other significant measures taken by federal agencies relating to U.S.-China policy. Between 2017 and 2021, the Trump Administration issued eight executive orders that primarily involved China. The Trump Administration issued an additional seven executive orders that did not explicitly target China but affected key policy areas relating to the U.S.-China relationship.1 In addition to these 15 executive orders, the Commission identified 116 China-related measures taken by White House and other executive departments and agencies from 2017 to 2021. A list of all currently identified executive actions, including both executive orders and measures taken by executive departments and agencies, can be found in the appendix of this document. This document is based upon press releases by the White House and by executive departments and agencies. Table of Contents Executive Orders Directly Targeting China .................................................................................................. 2 Executive Orders on Issues Critical to the U.S.-China Relationship ............................................................ 6 Appendix: Executive Actions on China (2017–2021) ................................................................................ 10 1 Executive orders in this -
Towards Strategic Coherence: a Discussion of Reform Proposals Following ‘Inadvertently Arming China?’
Civitas: Institute for the Study of Civil Society, First Floor, 55 Tufton Street, Westminster, London, SW1P 3QL. For enquiries, please contact Radomir Tylecote. Tel: +44 (0)20 7799 6677. Email: [email protected] Towards Strategic Coherence: A discussion of reform proposals following ‘Inadvertently Arming China?’ Dr Radomir Tylecote and Roberto White July 2021 First published July 2021 © Civitas 2021 55 Tufton Street London SW1P 3QL email: [email protected] All rights reserved Independence: Civitas: Institute for the Study of Civil Society is a registered educational charity (No. 1085494) and a company limited by guarantee (No. 04023541). Civitas is financed from a variety of private sources to avoid over-reliance on any single or small group of donors. All the Institute’s publications seek to further its objective of promoting the advancement of learning. The views expressed are those of the authors, not of the Institute. 2 Summary Our previous Civitas paper Inadvertently Arming China? revealed the widespread sponsorship of scientific research centres in UK universities by Chinese military-linked conglomerates and universities. Research at some of these centres is being sponsored by the British taxpayer. Some of these conglomerates produce Weapons of Mass Destruction (WMDs) including intercontinental ballistic missiles (ICBMs) and nuclear warheads. Others manufacture strike fighter engines, stealth aircraft, military drones and navy ships. The risk of the Chinese military sponsorship of UK academia is not just that outputs -
China Sanctions Update
June 15, 2021 China Sanctions Update New Executive Orders Modify Restrictions on Purchases of Securities of “Chinese Military-Industrial Complex Companies,” and Direct New Measures to Protect U.S. Personal Data; China Enacts New Anti- Foreign Sanctions Law SUMMARY On June 3, 2021, the Biden administration issued Executive Order (“E.O.”) 14032, which replaces the ban on transacting in securities of Chinese military companies that was established by the Trump administration in E.O. 13959. The basis for designating sanctions targets has been revised; rather than targeting “Communist Chinese Military Companies” identified by the Department of Defense under the statutory requirements of Section 1237 of the National Defense Authorization Act for Fiscal Year 1999, as amended, the revised framework gives the Treasury Department primary authority to designate companies operating in China’s defense or surveillance technology sectors, termed “Chinese Military-Industrial Complex” or “CMIC” companies, as subject to the transaction ban. In addition, a new list of covered CMIC entities has been issued which includes some, but not all, of the entities previously designated, while adding a limited number of companies not previously designated. While the previous version of these trading sanctions covered entities with a name that “closely matched” a listed name, the new prohibitions only apply to securities of entities that are specifically identified and listed. Along with the publication of E.O. 14032, the Office of Foreign Assets Control (“OFAC”) issued important guidance regarding the scope of the restrictions. On June 9, 2021, the Biden administration issued E.O. 14034 that revoked three Trump administration E.O.s targeting Chinese software applications, including TikTok and WeChat, and, in their place, established new criteria for identifying software that potentially could threaten United States persons’ personal information and proprietary business information. -
FCC-21-37A1.Pdf
Federal Communications Commission FCC 21-37 Before the Federal Communications Commission Washington, D.C. 20554 In the Matter of ) ) China Unicom (Americas) Operations Limited ) GN Docket No. 20-110; ) ITC-214-20020728-00361; ) ITC-214-20020724-00427 ) ORDER INSTITUTING PROCEEDING ON REVOCATION Adopted: March 17, 2021 Released: March 19, 2021 By the Commission: Acting Chairwoman Rosenworcel and Commissioner Starks issuing separate statements. TABLE OF CONTENTS Heading Paragraph # I. INTRODUCTION .................................................................................................................................. 1 II. BACKGROUND .................................................................................................................................... 2 A. Revocation of Domestic and International Section 214 Authority .................................................. 3 B. China Unicom Americas’ Section 214 Authority ............................................................................ 5 III. DISCUSSION ...................................................................................................................................... 15 A. Adequacy of Further Procedures ................................................................................................... 16 B. Basis for Revocation of Section 214 Authority ............................................................................. 24 1. National Security and Law Enforcement Concerns Related to China Unicom Americas ................................................................................................................................. -
President Biden Amends Chinese Military Companies Sanctions
Debevoise In Depth President Biden Amends Chinese Military Companies Sanctions June 4, 2021 On June 3, 2021, President Biden modified U.S. capital market restrictions on U.S. person investments in Chinese military and surveillance companies by issuing an “Executive Order on Addressing the Threat from Securities Investments that Finance Certain Companies of the People’s Republic of China” (the “New Order”). The New Order essentially replaces and supersedes Executive Order 13959 of November 12, 2020 and revokes Executive Order 13974 of January 13, 2021, both of which had been issued in the waning days of the Trump Administration. The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) concurrently removed or replaced all of its previously issued Frequently Asked Questions (“FAQs”) related to E.O. 13959, issued a number of new FAQs and replaced and superseded entirely its list of designated Chinese companies. The New Order and new FAQs revise the Trump Administration restrictions on so- called Communist Chinese Military Companies (“CCMCs”) in a number of ways. First, the New Order contains an Annex with a list of sanctioned companies, which are now termed Chinese Military-Industrial Complex Companies (“CMICs”). This list of companies, which we have included as an appendix hereto, varies from the prior CCMC list. The investment restrictions with respect to securities issued by these entities become effective on August 2, 2021. Second, by substantively replacing E.O. 13959 and the former OFAC FAQs, the restrictions that had been in place with respect to securities issued by previously designated CCMCs have been eliminated. That is, all trading restrictions on these companies’ securities are now eliminated until August 2, when restrictions on the newly listed CMICs will become effective. -
Q&A: Impact of the U.S. Presidential Executive Order 13959 on MSCI
Q&A Q&A: Impact of the U.S. Presidential Executive Order 13959 on MSCI Indexes July 2021 July 2021 Q&A: IMPACT OF THE U.S. PRESIDENTIAL EXECUTIVE ORDER 13959 ON MSCI INDEXES | JULY 2021 Contents General Questions 4 What has been MSCI’s treatment of securities impacted by U.S. Executive Order 13959? 4 What did change with U.S. Executive Order 13959 on June 3, 2021? 4 How will MSCI treat securities impacted by U.S. Executive Order 13959 as amended on June 3, 2021? 4 When will changes be reflected in the MSCI Advance Corporate Events (ACE) files? 4 Which securities will be excluded from the MSCI ACWI Indexes? 4 What treatment will MSCI apply to securities which are no longer impacted under the amended Order? 5 Which securities previously deleted from the MSCI ACWI Indexes are no longer impacted by the amended Order? 5 Will the MSCI China All Shares Indexes be subject to the same treatment as the MSCI ACWI Indexes? 6 Which securities will be excluded from the MSCI China All Shares Indexes? 6 Which securities previously deleted from the MSCI China All Shares Indexes are no longer impacted by the amended Order? 7 Will the securities be excluded from the MSCI Factor, ESG, Thematic and Capped Indexes? 7 Will MSCI apply the same treatment in MSCI Factor, ESG, Thematic and Capped Indexes for securities which are no longer impacted under the amended Order? 7 Will the securities be excluded from the MSCI Custom Indexes? 8 Will the same treatment be applied on the MSCI China A and China A RMB Indexes? 8 Will the same treatment be applied on the MSCI China A Onshore Indexes? 8 Has MSCI made available a list of impacted indexes? 8 © 2021 MSCI Inc. -
Executive Order 13959 - Restricted Securities
Executive Order 13959 - Restricted Securities Ticker Name ISIN SEDOL Date Added 1546063D.CN Aero Engine Corporation of China N.A. 2021-01-12 CAICPZ.CN Aviation Industry Corporation of China (AVIC) N.A. 2021-01-12 510270.CH BANK OF CHINA SSE EN 100 ETF CNE099900449 B6QN5D2 2021-01-27 510010.CH BCOMM SCHRODER SSE180 ETF CNE0999003G6 B557Z83 2021-01-27 510270.SS BOC SSE STATE-OWNED ENTERPRISES 100 ETF CNE099900449 2021-01-27 510010.SS BOCOM SSE 180 CORPORATE GOVERNANCE INDEX ETF CNE0999003G6 2021-01-27 159811.SZ BOSERA CSI 5G INDUSTRY 50 ETF 159811.SZ 2021-01-27 512960.SS BOSERA CSI CENTRAL-SOES STRC REFORM IDX ETF FUND CNE100003HL1 2021-01-27 515900.SS BOSERA CSI CENTRAL-SOES TECH INNOV IDX ETF FD 515900.SS 2021-01-27 159968.SZ BOSERA CSI SMALLCAP 500 INDEX EXCHANGE TRADED FUND159968.SZ 2021-01-27 515090.SS BOSERA CSI SUSTAINABLE DEVELOPMENT INDEX ETF 515090.SS 2021-01-27 512960.CH BOSERA SOE STRCTRL REFM ETF CNE100003HL1 BJCZ0T4 2021-01-27 510710.SS BOSERA SSE 50 ETF FUND 510710.SS 2021-01-27 510020.CH BOSERA SSE LARGE CAP ETF CNE100000QX3 B3W2QM82021-01-27 510020.SS BOSERA SSE MEGA CAP INDEX ETF CNE100000QX3 2021-01-27 513660.CH C-AMC SH-HK STOCK CN HSI ETF CNE1000028V7 BVL80K9 2021-01-27 159954.CH C-S HANG SENG CHINA ENT CNE100003837 BFXSF88 2021-01-27 512950.CH CAMC SOES STRCTRL REFM ETF CNE100003HM9 BJCZ0X8 2021-01-27 00743.TT CATHAY FTSE CHINA A150 ETF TW0000074301 BG1XLM8 2021-01-27 00743.TW CATHAY FTSE CHINA A150 ETF TW0000074301 2021-01-27 513680.CH CCB PP HK HANGSENG EP ETF CNE100003HC0 BJ2KSH3 2021-01-27 513680.SS CCB PRINCIPAL