Public Policy

Arthur Freyre

The International Law Section of the Florida Bar this past week hosted a seminar on Emerging Business and Trade Opportunities in Latin America in Coral Gables, Florida.  The speakers discussed the various opportunities and obstacles in the emerging Latin American market.

The first speaker, Violeta Longino spoke about the business climate in Argentina and Mexico.  Concerning Argentina, she mentioned that Argentina is moving towards Venezuela in the sense of over-regulation. To put this in perspective, it is easier to open a corporation in China or in Afghanistan than it is in Argentina.  In contrast to Argentina, Mexico is moving towards open markets.  There have been reforms in the energy sector, and labor laws.  Mexico has even passed an Anti-Corruption law, which stemmed out of a litigation involving Walmart.

On August 3, 2011, the Committee on Disclosure of Corporate Political Spending submitted a Petition for Rulemaking to the Securities and Exchange Commission (“SEC”) pursuant to Section 14 of the Securities Exchange Act of 1934. The proposal would require certain publicly traded companies to disclose their political contributions.

According to the Committee, “[s]ince 2004, responding to shareholder demand for information about political spending, large public companies have increasingly agreed voluntarily to adopt policies requiring disclosure of the company’s spending on politics … [a]bsent disclosure, shareholders are unable to hold directors and executives accountable when they spend corporate funds on politics in a way that departs from shareholder interests.”

This petition arose, in part, out of the 2010 Supreme Court decision, Citizens United v. Federal Election Commission, which overturned portions of the McCain-Feingold Act that legalized independent corporate political spending. 

As we enter the summer period of the Congressional session, it appears that Iran sanctions will once again be on the menu. This particular measure will be of interest to the energy and financial services sector that may have dealings with Iran.

The bill - HR 1905 - was introduced last week without much fanfare by the Chairman and Ranking Member of the House Foreign Affairs Committee; however, we expect it will receive a great deal of attention in both chambers. A companion Senate measure will be introduced in the near future.

It is not what advocates of export control reform necessarily wanted to hear, however, a recently completed study for the Congress that was released yesterday by the Government Accountability Office (GAO) confirms prior reports that both our allies and enemies continue to try to steal the most advanced U.S. technologies. While nothing new, U.S. companies and universities who hire foreign nationals will once again come under pressure to ensure compliance with export control laws and regulations.

PT Law's Jason Poblete responds to a question from a leading Washington, DC news organization POLITICO on recent developments in Egypt:

Let’s wait and see if today’s cathartic moment transitions over to a new Egypt that will be a stabilizing influence in the Middle East. What we are seeing today is a potential constitutional crisis in the making that, if not managed correctly, will disappoint millions of Egyptians in the long term. In the process, it could also hurt U.S. and security interests in the region.

To read other comments on the subject, visit the POLITICO's website.

PT law's Jason Poblete responds to a question on the situation in Egypt from a leading Washington, DC news organization, the POLITICO:

Before folks on Capitol Hill or the White House start pointing the finger of blame on the intelligence community, they should look first at the institutions they serve in. It has been the Congress that has appropriated the assistance to Egypt; while the executive spent it.

On January 5, 2011, the House of Representatives adopted a new Rules package for the 112th Congress. The changes include items to bring greater transparency and accountability to the legislative process. It also puts in place a process for lawmaking that will impact how individuals, companies, and organizations advocate before the Congress.

The US Agency for International Development (USAID) announced this week that "pursuant to the Food for Peace Act of 2008, notice is hereby given that the Request for Applications for Title II Non-Emergency Food Aid Programs will be available to interested parties for general viewing." 75 FR 74678

Individuals who wish to review the Request for Applications for Title II Non-Emergency Food Aid Programs, more information will be available at the USAID website on or about December 6, 2010.

For more information, please contact our office or read the Federal Register notice available here.

The United States Government Accountability Office (GAO) published a report that analyzed export data from the Foreign Military Sales (FMS) and Direct Commercial Sales (DCS) programs. Exports under these programs represent billions of dollars a year of such things as defense articles and services, as well as critically sensitive technology.

This morning the U.S. Government Accountability Office (GAO) published a study that will surely raise concerns on Capitol Hill about U.S. arms sales and transfers to the Middle East Gulf region.

According to the GAO, during the past few years there have been billions of dollars worth of arms sales for which the State and Defense Departments failed to always document, as required by statute, the potential effect on U.S. foreign and national security policy.