Executive Order 13959

Luokung Announces Removal from Executive Order List, Favorable Conclusion of Department of Defense Designation Matter

Retrieved on: 
Tuesday, June 15, 2021
China–United States relations, Executive Order 13959

In addition, as a result of the omission of the Company from Executive Order 14032, which amends and supersedes Executive Order 13959 in imposing restrictions on trading shares of certain Chinese companies, Luokung and its shareholders are no longer subject to any restrictions pursuant to Executive Order 13959, as amended.

Key Points: 
  • In addition, as a result of the omission of the Company from Executive Order 14032, which amends and supersedes Executive Order 13959 in imposing restrictions on trading shares of certain Chinese companies, Luokung and its shareholders are no longer subject to any restrictions pursuant to Executive Order 13959, as amended.
  • DoD confirmed the foregoing to Luokung and to the U.S. District Court for the District of Columbia.
  • In light of the foregoing, Luokung and the government Defendants have filed a joint stipulation to have the Company's lawsuit challenging the designation voluntarily dismissed, which will bring the lawsuit to a close.
  • Mr. Xuesong Song, Chairman and CEO, stated, "We are pleased with this favorable outcome for Luokung and its shareholders.

U.S. Investment Sanctions on Chinese Military-Linked Companies (Executive Order 13959)

Retrieved on: 
Thursday, January 7, 2021
Executive Order 13959, Financial markets, Security, Federal government of the United States, 73rd United States Congress, U.S. Securities and Exchange Commission

On November 12, 2020, U.S. President Donald Trump issued Executive Order 13959 (the "Executive Order"), which prohibits U.S.

Key Points: 
  • On November 12, 2020, U.S. President Donald Trump issued Executive Order 13959 (the "Executive Order"), which prohibits U.S.
  • Persons from purchasing "publicly traded securities" of 35 Chinese companies identified as Communist Chinese Military Companies ("CCMCs") or engaging in any transaction in "any securities that are derivative of, or are designed to provide investment exposure to" prohibited CCMC securities.
  • Persons cannot make purchases of CCMC securities effective January 11, 2021 and have until November 11, 2021 to divest from these securities.
  • ASI's sanctions compliance framework has been amended to comply with the requirements of the Executive Order via our screening processes, pre-and post-trade guidelines, and oversight procedures in connection with investment and client activity.