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On March 22, 2021, the Department of Commerce
( Commerce ) interim final rule to implement provisions of
Executive Order 13873 on Securing the Information and
Communications Technology and Services (ICTS) Supply Chain became
effective. The interim final rule made several changes to the
original proposed rule issued in November 2019. The interim final
rule clarifies when Commerce will seek other agency consultation
and the criteria to be considered when making a determination about
whether a transaction is covered. The new rule also provides more
details concerning the options available to affected parties,
The Worldwide Commercial Security System Industry is Expected to Reach $342 6 Billion by 2026
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The Worldwide Commercial Security System Industry is Expected to Reach $342 6 Billion by 2026
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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On Dec. 31, 2020, the president signed into law the Secure Federal Leases from Espionage and Suspicious Entanglements Act (Secure Federal Leases Act), Pub. L. 116-276. The Act imposes disclosure requirements regarding the foreign ownership, particularly “beneficial ownership” of prospective lessors of “high-security space” (i.e., property leased to the federal government having a security level of III or higher) as well as existing lessors of such space. The Act applies to any lease or lease novation entered into six months after the date of the enactment of the Act.
These requirements are applicable to leases by the U.S. General Services Administration (GSA), the Architect of the Capitol, “or the head of any Federal agency, other than the Department of Defense (DOD), that has independent statutory leasing authority” (Federal lessees). The Act is not applicable to DOD or to the intelligence community. In that regard, Section 2876 of the FY 2018 National Defense Au