1 May 2021
President Joe Biden’s son Hunter reportedly continues to hold a stake in a Chinese private equity firm despite his father’s campaign promise that, if elected, his family would divest its foreign business interests.
According to a review of business records conducted by the Daily Caller, Hunter’s company, Skaneateles LLC, holds a 10 percent stake in the Bohai Harvest RST Equity Investment Fund Management Co. (BHR Partners), the Chinese private equity firm.
The state-controlled Bank of China co-owns BHR Partners. Hunter Biden is the sole beneficial owner of Skaneateles LLC that holds his 10 percent stake.
In October 2019, then-presidential candidate Joe Biden vowed that, if elected, nobody in his family would have any business ties with any foreign corporation or nation, a contrast to the Trump Organizations worldwide presence.
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Cybersecurity and Data Privacy
Election 2020: Looking Forward to What a Biden Presidency May Mean for Data Privacy and Data Privacy Litigation
By Kristin Bryan, Lydia de la Torre, Glenn A. Brown, Aaron Garavaglia Share:
Winter 2021
The United States is in the process of completing its 59th presidential election and electing its 46th president. A change in administrations is inevitably accompanied by a change in executive priorities. Assuming that Vice President Biden is sworn in as President on January 20, 2021, the area of data privacy will likely be of particular focus under the Biden Administration, with consequences for data privacy litigation. Some top of mind questions regarding the anticipated impact a Biden presidency may have in this area are addressed below. Specifically, we anticipate that a Biden Administration will likely focus on the passage of federal data privacy legislation, renegotiate conditions for EU data transfers to the US, reintroduce a cybers
Hunter Biden is still working to unwind 10% investment in Chinese-owned fund after President vowed no family members would do business with foreign countries or corporations
Hunter Biden is still in the process of divesting his 10 per cent share in a Chinese investment firm
A Delaware LLC Hunter Biden controls owns 10 per cent of Bohai Harvest RST
The Bank of China, a state-owned entity, as well as other Chinese government financial firms funded BHR
President-elect Joe Biden again pledged in early December that Hunter Biden would have no business dealings that could present a conflict of interest