Section 219 of the iran threat reduction and syria human rights act of 2012 the threat reduction act requires secregistered issuers to disclose in periodic reports filed with the sec, among other things, if they or their affiliates knowingly conducted any transaction or dealing with a person or entity affiliated with the government of. Expansion of sanctions available under the iran sanctions act of 1996. This final rule will not have a significant economic impact on a substantial number of small entities. The iran and libya sanctions act of 1996 ilsa was a 1996 act of the united states congress that imposed economic sanctions on firms doing business with iran and libya. Section 219 of the iran threat reduction and syria human rights act of 2012 itra added a new subsection r to section of the securities exchange act of 1934, as amended the exchange act, requiring an issuer to disclose in its annual and quarterly reports whether it or any of its. Exchange act requires issuers to disclose iranrelated activities disclosures required in reports due to be filed on or after february 6, 20 summary on august 10, 2012, president obama signed into law public law 112158, the iran threat reduction and syria human rights act of 2012 the itra.
Be it enacted by the senate and house of representatives. Disclosure pursuant to section 219 of the iran threat reduction and syria human rights act of 2012 9 item 1a. Section six amends the iran threat reduction and syria human rights act to. Sep 10, 2012 sec requirements under the iran threat reduction and syria human rights act posted by noam noked, coeditor, hls forum on corporate governance and financial regulation, on monday, september 10, 2012. Iran freedom support act iran sanctions act of 1996 isa 710 comprehensive iran sanctions, accountability, and divestment act of 2010 cisada 910 eo 553 511 1111 eo 590 ndaa for fy2102, sec.
Iran threat reduction and syria human rights act of 2012, 502ad, 22 u. This letter presents the views ofthe department of justice on h. Several major international oil firms announced a cutoff of refined products to iran because of cisadas provisions. Sec disclosure requirements enacted under the the iran threat reduction and syria human rights act of 2012. On august 10, 2012, president obama signed into law the iran threat reduction and syria human rights act of 2012 the act. Public companies are required to include explanatory disclosure and make an irannotice filing on edgar if. New disclosure requirements under the iran threat reduction.
It requires enhanced strategic planning and coordination of research plans. Iran threat reduction act actually enhances threat of war. Ofac faq on section 312 of iran threat reduction and syria human rights act by eric9to5 on april 9, 2014 leave a comment. Hr 1905 the iran threat reduction act of 2011 department of. Dec 19, 2012 on august 10, 2012, the president signed into law the iran threat reduction and syria human rights act of 2012. Congress approved new legislation, the iran threat reduction and syria. The iran threat reduction and syria human rights act of 2012 the act imposes sec reporting requirements on issuers that engage in certain iranianrelated business. Following months of negotiations between and among the house, the senate, and the administration, both chambers of congress reached agreement on a reconciled bill2, which the house passed by a vote of 4216 on august 1, and the senate passed by.
This act may be cited as the iran threat reduction and syria human rights act of 2012. Under section 219, which amends section of the securities exchange act of 1934 the exchange act, issuers required to file an annual or quarterly report under section of the exchange act must disclose in that report if the issuer or an affi liate. Be it enacted by the senate and house of representatives of. Notice required by the iran threat reduction and syria. Sanctions with respect to iran signed into law on august 10, 2012. As part of the tightening of sanctions against iran, in august 2012, president obama signed into law the iran threat reduction and syria human rights act of 2012 the act. This document has been published in the federal register. Authorizing the implementation of certain sanctions set forth in the iran threat reduction and syria human rights act of 2012 and additional sanctions. The recently iran threat reduction and syria human rights act of 2012enacted 1 the act strengthens existing sanctions on iran, especially those aimed at thirdcountry nationals engaging in business with iran, and includes measures relating to human rights abuses in iran and syria. Authorizing the implementation of certain sanctions set forth in the iran threat reduction and syria human rights act of 2012 and additional sanctions with respect to iran open pdf 204 kb. Federal register authorizing the implementation of.
Disclosure pursuant to section 219 of the iran threat reduction. Title iexpansion of multilateral sanctions regime with respect to iran sec. Following months of negotiations between and among the house, the senate, and the administration, both chambers of congress reached agreement on a reconciled bill2, which the house passed by a vote of 4216 on august 1, and the senate passed by voice vote later that same day. Exchange act requires issuers to disclose iran related activities disclosures required in reports due to be filed on or after february 6, 20 summary on august 10, 2012, president obama signed into law public law 112158, the iran threat reduction and syria human rights act of 2012 the itra. Authorizing the implementation of certain sanctions set forth in the iran threat reduction and syria human rights act of 2012 and additional sanctions with respect to iran. Sec filings under the new iran disclosure obligations have. United states enacts further sanctions on iran and syria. Ofac faq on section 312 of iran threat reduction and syria.
Subsection 32, section 103, and section 202 declaring the policy of the united states in foreign affairs. To strengthen iran sanctions laws for the purpose of compelling iran to abandon its pursuit of nuclear weapons and other threatening activities, and for other purposes. Uscirf recommends that the state depart ment redesignate iran as a cpc under irfa and maintain the existing, ongoing travel restrictions in section 221c of the iran threat reduction and syria human rights act of 2012. The iran threat reduction and syria human rights act of 2012 act. Iran threat reduction and syria human rights act of 2012.
Introduced to the house on april 6, 2017 this bill changes the current discretionary authority to a requirement that the president impose sanctions under the iran threat reduction and syria human rights act of 2012 with respect to the provision of specialized financial messaging services to the central bank of iran and other sanctioned iranian. Nov 26, 2012 in august 2012, president obama signed into law the iran threat reduction and syria human rights act of 2012 the irt act. Expansion of multilateral sanctions regime with respect to iran sec. The iran threat reduction and syria human rights act of 2012 itra itra is the third significant sanctions law passed by the us congress over the past two years, building upon the comprehensive iran sanctions, accountability, and divestment act in september 2010 cisada and the national defense authorization act in december 2011 ndaa. Section 312 of the iran threat reduction and syria human rights act of 2012 itrshra requires the secretary of the treasury, no later than 45 days after the date of the enactment of itrshra, to determine whether the national iranian oil. Disclosure pursuant to section 219 of the iran threat reduction and syria human rights act of 2012 20 item 1a. Iran threat reduction and syria human rights act of 2012 in our preparing your 2012 form 20f memorandum, we discussed the new reporting obligations for companies under the iran threat reduction and syria human rights act of 2012tra. Section 240 of the fiscal year 2008 national defense authorization act expanded the administration and reporting requirements associated with the defense nanotechnology research and development program. Exchange act requires issuers to disclose iranrelated activities. Government fully reimposes iran sanctions, announces. It sanctions private or public entities for knowingly conducting transactions for the acquisition of iranian oil. Comprehensive iran sanctions and divestment act of 2010 cisada and the iran threat reduction and syria human rights act of 2012, pub. Except as provided in subsection f, the president shall impose 5 or more of the sanctions described in section 6a with respect to a person if the president determines that the person knowingly, on or after the date of the enactment of the iran threat reduction and syria human.
Iran threat reduction act of 2011 as provided by the house committee on foreign affairs on december 8, 2011 summary h. The irgc sanctions act apply title iv jacksonvanik provisions to iran. Starting in february 20, the iran threat reduction and syria human rights act the threat reduction act will impose new reporting requirements on u. On august 10, president obama signed into law another expansion of us. Iran available to pay compensatory damages to the victims of terrorism sponsored by that government, and for other purposes. Under section 219, which amends section of the securities exchange act of 1934 the exchange act, issuers required to file an annual or quarterly report under section of the exchange act must disclose in that report if. Defense nanotechnology research and development program. Section 219 of the act amends section of the exchange act to add new subsection r, which requires an issuer that files exchange act periodic reports to provide disclosure in its periodic report if during the reporting period it or any of its affiliates has knowingly engaged in. Iran threat reduction and syria human rights act of 2012 tra, including section 218, making foreign subsidiaries or foreign entities owned or controlled by u. The cybersecurity and infrastructure security agency cisa is sharing the following information with the cybersecurity community as a primer for assisting in the protection of our nations critical infrastructure in light of the current tensions between the islamic republic of iran and the united states and iran s historic use of cyber offensive activities to retaliate against perceived harm.
The iran threat reduction and syria human rights act of 2012 further targeted. Section 504 of the tra amends section 1245d4d of the national defense authorization act for fiscal year 2012, public law 11281 ndaa, which the president signed into law on december 31, 2011. On august 10, 2012, the president signed into law the iran threat reduction and syria human rights act of 2012, public law 112158 tra. We have several constitutional comments on this bill. Homeland duration will expire on or before january 18, 2020 at 1.
Section 219 of the iran threat reduction and syria human rights act of 2012 mandates additional disclosure requirements for usregistered issuers concerning certain iran related activities and, under a plain reading of the statute, certain activities with non iran related persons or entities listed on the us department of. Department of justice office of legislative affairs. The act creates a new disclosure requirement for issuers required to file reports under section of the securities exchange act of 1934. Notice required by the iran threat reduction and syria human. Disclosure pursuant to section 219 of the iran threat reduction and syria human rights act. Section 219 of the iran threat reduction and syria human rights. The company also must file a separate notice regarding the activity. Iran did not violate treaty of amity between the united states and iran, which stated that iranian companies shall have their juridical status recognized within the united states. August 15, 2012 introduction on august 1, 2012, the u. On august 10, 2012, president obama signed into law h. For complete classification of this act to the code, see. Sec requirements under the iran threat reduction and syria.
Sec reporting requirement for service providers under the. At the time, iran imported about 30 percent of its refined gasoline because of the poor state of its own refineries. On september 30, 2006, the act was renamed the iran. O pursuant to iran threat reduction and syria human rights act 96 table d15. Sec requirements under the iran threat reduction and syria human rights act posted by noam noked, coeditor, hls forum on corporate governance and financial regulation, on monday, september 10, 2012. This new edgar form is called irannotice, and it will be publicly available on edgar upon filing with the sec. Congress, the iran threat reduction and syria human rights act of. Iran threat reduction and syria human rights act of 2012 imposes a new iran related sec disclosure requirement. Reduction and syria human rights act of 2012 the itra, as well as certain iranrelated provisions of executive orders 622 and 628. Subtitle aexpansion of the iran sanctions act of 1996.
Disclosure pursuant to section 219 of the iran threat. How they differ from ofac requirements, and are been interpreted by the sec when, what and how to report how recent sec guidance is being applied when an issuer has to. The law was amended in 1986 and 1996 and requires many actions to protect drinking water and its sourcesrivers, lakes, reservoirs, springs, and ground. Section 403 of the iran threat reduction and syria human rights act of 2012 itrshra 22 u.
Exchange act requires issuers to disclose iranrelated. It builds on section 1245 of the national defense authorization act for fiscal year 2012. Congress approved new legislation, the iran threat reduction and syria human rights act of 2012 h. Subsection 32, section 103, and section 202 declaring the policy of the united states in. Welcome a new type of sec filing irannotice securities.
One hundred twelfth congress of the united states of america. Yesterday, the sec announced that the notice required by the iran threat reduction and syria human rights act of 2012 act, which was signed into law on august 10, 2012, should be filed on edgar. The iran threat reduction act of 2011 itra, introduced by house foreign affairs committee chairwoman ileana roslehtinen rfl and ranking member howard berman dca, adds significant new sanctions to our diplomatic arsenal while there is. The iran threat reduction and syria human rights act of 2012. Executive order 622, or the iran threat reduction and syria human rights act,was issued on july 30, 2012.
Section 219 of the iran threat reduction and syria human. Securities and exchange commission the sec pursuant to section a of the securities exchange act. National defense authorization act for fiscal year. On september 20, 2004, the president signed an executive order to terminate the national emergency with respect to libya and to end ieepabased economic sanctions on libya.