The U.S. Government has implemented a series of changes announced earlier this year to ease certain financial and investment sanctions on Burma. OFAC General License No. 16 authorizes certain exports of U.S. financial services to Burma, subject to certain limitations. OFAC General License No. 17 (G.L. 17) authorizes new investment in Burma, subject to certain limitations and requirements. The Secretary of State has waived the ban on new U.S. investment in Burma. Any U.S. individual or entity who, pursuant to G.L. 17, engages in new investment in Burma that exceeds $500,000 will be subject to certain reporting requirements. In addition, the President has provided the U.S. Government the authority to impose blocking sanctions on individuals, entities and certain related parties posing a threat to Burma’s peace, security or stability; involved in human rights abuses in Burma; and involved, directly or indirectly, in importing, exporting, reexporting, selling or supplying arms or related material from North Korea or the Government of North Korea to Burma or the Government of Burma. The full release is available at: http://www.treasury.gov/resource-center/sanctions/OFACEnforcement/ Pages/20120711.aspx.