PHILADELPHIA, Jan. 7, 2021 /PRNewswire/ —
On November 12, 2020, U.S. President Donald Trump issued Executive Order 13959 (the “Govt Order”), which prohibits U.S. Individuals from buying “publicly traded securities” of 35 Chinese firms recognized as Communist Chinese Military Corporations (“CCMCs”) or engaging in any transaction in “any securities that are spinoff of, or are intended to present financial investment exposure to” prohibited CCMC securities. Beneath the Govt Get, U.S. Individuals are not able to make buys of CCMC securities successful January 11, 2021 and have right until November 11, 2021 to divest from these securities.
On December 28, 2020, the U.S. Treasury Department’s Business office of Overseas Belongings Control (“OFAC”) issued prerequisites concerning limitations and processes in relationship with the Government Get.
OFAC’s steering restricts U.S. Individuals from investing in securities in any overseas or U.S. fund, together with registered cash that keep publicly traded