Source: http://www.wileyrein.com/newsroom-articles-2812.html
Timestamp: 2017-08-19 03:28:40
Document Index: 283636116

Matched Legal Cases: ['§ 129', '§ 129', '§ 129', '§ 122', 'art 129', '§ 126']

[1] Amendment to the International Traffic in Arms Regulations: Registration and Licensing of Brokers, Brokering Activities, and Related Provisions, 78 Fed. Reg. 52,680 (Dep’t State Aug. 26, 2013) (interim final rule) (“Interim Final Brokering Rule”).
[2] Amendment to the International Traffic in Arms Regulations: Registration and Licensing of Brokers, Brokering Activities, and Related Provisions, 76 Fed. Reg. 78,578 (Dep’t State Dec. 19, 2011) (proposed rule) (“Proposed Brokering Rule”).
[3] 22 C.F.R. § 129.2(a).
[4] Id. § 129.2(b).
[6] Proposed Brokering Rule, 76 Fed. Reg. at 78,587.
[7] Interim Final Brokering Rule, 78 Fed. Reg. at 52,690. The new note to amended section 129.2(a)(3) states that “owned by a U.S. person” means more than 50% of the outstanding voting securities of the firm are owned by a U.S. person, while “controlled by a U.S. person” means that one or more U.S. persons have the authority or ability to establish or direct the general policies or day-to-day operations of the firm. Control is rebuttably presumed when the U.S. person owns 25% or more of the outstanding voting securities, unless one foreign person controls an equal or larger percentage. Id. As it did in its December 2011 proposed rule, DDTC removed from the definition of “broker” language requiring the person to act “as an agent for others” “in return for a fee, commission, or other consideration.” Id.; 22 C.F.R. § 129.2(a).
[8] Proposed Brokering Rule, 76 Fed. Reg. at 78,587.
[9] Interim Final Brokering Rule, 78 Fed. Reg. at 52,690.
[11] Proposed Brokering Rule, 76 Fed. Reg. at 78,587-88.
[12] Interim Final Brokering Rule, 78 Fed. Reg. at 52,686 & 52,690.
[13] Id. at 52,691. Changes to combine an existing broker registration with an existing manufacturer/exporter registration can be provided as part of the annual registration renewal for one year from October 25, 2013. Id. at 52,687 & 52,693.
[14] Id. at 52,686 & 52,692.
[15] Id. at 52,686-87 & 52,693.
[16] 22 C.F.R. § 122.4(a)(2).
[17] Interim Final Brokering Rule, 78 Fed. Reg. at 52,687 & 52,693.
[18] Id. at 52,691. The Interim Brokering Rule removes the prior notification requirements from Part 129.
[19] Id. at 52,686.
[20] 22 C.F.R. § 126.1(e).
[21] Interim Final Brokering Rule, 78 Fed. Reg. at 52,687-88.
[22] Id. at 52,693-94.