Although Venezuela remains subject to sanctions targeting the Government of Venezuela (GoV) and entities in which it holds a 50% or greater ownership interest, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued a series of General Licenses (GLs) representing the broadest easing of Venezuela-related sanctions in years.

The General Services Administration (GSA) recently announced changes to procedural guidance that may affect contractor eligibility for GSA contracts. GSA issued the IT Security Procedural Guide: Protecting Controlled Unclassified Information (CUI) in Nonfederal Systems and Organizations Process CIO-IT Security-21-112, which set out a cybersecurity framework for protecting CUI that is similar to the Cybersecurity Maturity Model Certification (CMMC) for DoD contracts. 

Recent developments at the federal legislative and regulatory levels signal a significant shift toward greater transparency requirements in the pharmacy benefit management (PBM) industry.