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Two weeks ago, the Department of Justice (“DOJ”) announced two significant enforcement actions and shut down NetWalker and Emotet, powerful tools that had been used by alleged criminal networks engaging in widespread ransomware extortion schemes. These efforts highlight law enforcement’s focus on ransomware attacks and the growing cybersecurity risks faced by companies of all sizes, and they also demonstrate the increasing need for companies to design and implement effective incident response plans and cybersecurity programs before a problem surfaces. In addition, law enforcement and regulators are now pressuring financial institutions, cyber insurance companies, digital forensic agencies, and other entities involved in ransomware responses to report ransomware payments when they are found, and companies now face higher premiums and shoulder more risk as ransomware attacks escalate.
Press release content from Business Wire. The AP news staff was not involved in its creation.
PVH Corp. Names Trish Donnelly to New Role as Chief Executive Officer of PVH Americas
February 10, 2021 GMT
NEW YORK (BUSINESS WIRE) Feb 10, 2021
PVH Corp. [NYSE:PVH] announced today that Trish Donnelly, former Chief Executive Officer of Urban Outfitters Group, will join the company as Chief Executive Officer of PVH Americas. The addition of this new role to the leadership team is an important step toward achieving the company’s global priority to build upon PVH’s core strengths and connect them more closely with where the consumer is going.
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Manny Chirico Continues as Chairman of Company s Board of Directors
PVH Corp. (NYSE:PVH) announced today that Stefan Larsson has formally become the company s Chief Executive Officer and joined its Board of Directors, completing a previously announced transition plan. PVH s former CEO, Manny Chirico, will continue in his role as Chairman of the Board of Directors.
The company communicated in September 2020 this evolution in leadership to ensure a seamless and orderly transfer of the Chief Executive Officer s role. Together, Larsson and Chirico developed near-term actions and long-term strategies that will continue to leverage the power of PVH by remaining focused on the company s core strengths, connecting them to where the consumer is going, and driving brand relevance and high performance to deliver long-term sustainable growth.
More War by Other Means: Sanctioning the Wife of Syria’s President Makes No Sense to Anyone
More sanctions, by all means. More grief and suffering and more people around the world wondering what exactly the United States is doing.
I am a recipient of regular, usual weekly, emails from the Department of the Treasury providing an “Update to OFAC’s list of Specially Designated Nationals (SDN) and Blocked Persons.” OFAC is the Office of Foreign Assets Control, which is tasked with both identifying and managing the financial punishments meted out to those individuals and groups that have been sanctioned by the United States government. A recent update, on November 10
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The United States continues to tighten controls on the People’s Republic of China. In this article we address three regulatory changes that highlight the need for enhanced due diligence when dealing with China: 1) restrictions on recent additions to the Entity List; 2) controls on military end-uses and military end-users; and 3) elimination of Hong Kong as a separate destination under the Export Administration Regulations (EAR).
Entity List
On December 22, 2020, the Bureau of Industry and Security (BIS) added 59 Chinese entities to the Entity List, thereby expanding the licensing requirements on export transactions with these entities. See Notice at 85 Fed. Reg. 83416. The additions to the Entity List are the result of the collective determination by the Departments of Commerce, State, Defense, Energy, and where appropriate, the Treasury (collectively, the “End-User Review Committee”) that these entities are engagi