Les Carnegie

Les Carnegie advises companies, financial institutions, and private equity funds, both in the US and globally, on their outbound and inbound business transactions. He helps clients navigate US export controls, sanctions, and foreign investment reviews by CFIUS. He co-leads Latham’s Economic Sanctions & Export Controls Practice, and the CFIUS & US National Security Practice.

Les advises clients on legal, policy, and enforcement issues arising under:

- US trade and economic sanctions

- US export controls

- National security reviews of foreign investments in the US conducted by the Committee on Foreign Investment in the United States (CFIUS)

Les draws on strong working relationships with regulators and two decades of legal experience to help clients understand legal restrictions and requirements, secure licensing, make voluntary disclosures and respond to enforcement actions, as well as maintain compliance with various US legal regimes, including:

- National security reviews before CFIUS

- US Treasury Department’s Office of Foreign Assets Control (OFAC)

- US Department of State’s International Traffic in Arms Regulations (ITAR)

- US Department of Commerce’s Export Administration Regulations (EAR), the Foreign Trade Regulations (FTR), and antiboycott regulations

He has developed particular insight on key strategic industries, including:

- Banking and financial services

- Energy

- Life Sciences/Biotechnology

- Aerospace/Defense

- Consumer/Retail goods

- Hospitality/Entertainment

- Not-for-profit NGOs/Tax-exempt organizations

Les frequently writes and speaks on sanctions and CFIUS topics. Les organized and edited the first Foreign Direct Investment Regimes app, covering investment from several global jurisdictions.

He clerked for Judge Gerald B. Tjoflat of the US Court of Appeals for the Eleventh Circuit.