“Deep experience helps in providing guidance on our complex, international matters. Les is great to work with and is always friendly and professional.”
Chambers USA 2025
Band 1 – International Trade: Export Controls & Economic Sanctions
Chambers USA 2025
“Depth of knowledge, expertise and client relations skills that are unmatched.”
Chambers USA 2025
Leading Partner – International Trade and National Security: CFIUS
Legal 500 US 2025
Hall of Fame – International Trade and National Security: Customs, Export Controls & Economic Sanctions
Legal 500 US 2025
"Deep experience and knowledge of the relevant legal issues and government agencies, which greatly informs his counsel."
Legal 500 US 2025
"A renowned expert in the field, heads the CFIUS and US national security teams and has a proven track record of obtaining CFIUS clearance."
Legal 500 US 2025
Leading Individuals – International Trade and National Security: National Security
Legal 500 US 2025
MVP – International Trade
Law360 2025
"Well known in the space for his exports controls and economic sanctions practice… strong capabilities in advising clients on the CFIUS process."
Chambers USA 2024
Profile
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. He is regularly recognized by Chambers USA and Legal 500 US, and was named a Top Advisor by Foreign Investment Watch in 2020, and an International Trade MVP and Compliance MVP by Law360 in 2025 and 2021, respectively. Clients describe him as “our first choice when tackling complex economic sanctions or export control compliance matters,” and “a tireless, engaging advocate and forward thinker,” whose “knowledge of US sanctions is excellent, as are his relationships with OFAC personnel.”
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.
Experience
A sampling of Les’ work includes representing:
Sanctions and Export Controls
Financial institutions regarding compliance with US sanctions in lending and capital markets transactions
Leading aerospace and defense companies regarding compliance with US export controls and US sanctions, including voluntary disclosures to the Treasury, Commerce, and State Departments
A leading energy firm, including oil exploration and production companies, as well as oil services companies regarding compliance on US export controls, US sanctions, and designing compliance programs, as well as voluntary disclosures to the Treasury and Commerce Departments
Leading high-technology companies, including 3-D printing companies, on compliance with US foreign trade controls
Several medical device and pharmaceutical companies in helping to secure government licensing for sales of humanitarian products to countries subject to US economic and trade sanctions
Leading not-for-profit organizations, including the International Committee for the Red Cross, CARE USA, Save the Children, and Mercy Corps, regarding compliance with US export controls and US sanctions, including securing export licensing and OFAC authorization
CFIUS
Integrated Device Technology, a leading supplier of analog mixed-signal products, including sensors, connectivity and wireless power, in its successful efforts to obtain CFIUS clearance in connection with its proposed acquisition by Japan-based Renesas Electronics, a premier supplier of advanced semiconductor solutions, in US$6.7 billion deal
Siemens AG, a German multinational company, in its successful effort to obtain CFIUS approval for its US$7.8 billion strategic acquisition of Dresser-Rand Group, a supplier of custom-engineered rotating equipment solutions
Novelis, the world leader in aluminum rolling and recycling, in its successful effort to obtain CFIUS clearance of its proposed US$2.6 billion acquisition of Aleris, a global supplier of rolled aluminum products
Atos SE, a global leader in digital transformation based in France, in its successful effort to obtain CFIUS clearance of its US$3.4 billion acquisition of Syntel, a US-based multinational provider of integrated technology and business services
Avago Technologies, a Singaporean semiconductor company, in its successful effort to obtain CFIUS approval in connection with its US$37 billion acquisition of Broadcom, a major manufacturer of telecommunications and networking equipment
Hytera Communications, a Chinese manufacturer and supplier of land mobile radio and digital mobile radio products, systems, and applications, in its successful effort to obtain CFIUS clearance to acquire the US business of Sepura, a UK company
Vision Technologies Aerospace, a maintenance and engineering group held by Singapore Technologies Engineering, in its successful effort to obtain CFIUS clearance in connection with its acquisition of MRA Systems, a unit of General Electric
Qualifications
Bar Qualification
District of Columbia
Education
JD, Duke University School of Law, 1999 with honors
LLM, Duke University School of Law, 1999 with honors
Partner Les Carnegie, co-leader of the Economic Sanctions & Export Controls Practice and CFIUS & US National Security Practice, was named a 2025 Law360 International Trade MVP for successfully securing CFIUS clearance for Coherus BioSciences in connection with the sale of a major cancer-related drug.
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