859. What are “publicly traded securities” for purposes of Executive Order (E.O.) 13959, as amended?
For purposes of E.O. 13959, as amended, the term “publicly traded securities” includes any “security,” as defined in section 3(a)(10) of the Securities Exchange Act of 1934, Public Law 73–291 (as codified as amended at 15 U.S.C. 78c(a)(10)), denominated in any currency that trades on a securities exchange or through the method of trading that is commonly referred to as “over-the-counter,” in any jurisdiction.
Date Released
June 3, 2021
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859. How does OFAC interpret the term “publicly traded securities” for purposes of Executive Order (E.O.) 13959?
For purposes of E.O. 13959, OFAC intends to interpret the term “publicly traded securities” to include securities (as defined in section 4(d) of E.O. 13959) denominated in any currency that trade on a securities exchange or...
1) This is one of the eight EO 13959-related FAQs that remains on OFAC’s website after the release of EO 14032 of June 3, 2021, which substantially altered the sanctions regime pertaining to Chinese military company-related securities. The plain text view of the FAQ included the text of the FAQ as it appeared prior to June 3, 2021.
2) The "publicly traded securities" issue is discussed at section II(i) of the Consolidated Comment on the Chinese Military Companies Sanctions Under the EO Issued June 3, 2021.
3) In section 4(d) of the original EO 13959, there was a definitional provision that read as follows (with emphasis added):
the terms ‘‘security’’ and ‘‘securities’’ include the definition of ‘‘security’’ in section 3(a)(10) of the Securities Exchange Act of 1934, Public Law 73–291, as codified as amended at...