Good morning. The Justice Department in recent years has issued a series of policies designed to incentivize companies to invest in programs that ensure employees don’t violate the law. Few have been as central to those efforts as Andrew Weissmann, who was chief of the department’s criminal fraud section from 2015 to 2017.

Mr. Weissmann helped launch a precursor to the FCPA Corporate Enforcement Policy, a leniency program that gives companies discounts on financial penalties if they voluntarily disclose potential bribery issues, cooperate with prosecutors and take steps to prevent future violations of the U.S. Foreign Corrupt Practices Act.

He spoke with Risk & Compliance Journal’s Dylan Tokar about the importance of corporate compliance officers. “The goal is to try and figure out how do you make that role as effective as possible,” said Mr. Weissmann, who served on special counsel Robert Mueller’s team investigating Russia’s interference in the 2016 U.S. presidential election and will rejoin law firm Jenner & Block LLP in July.

A draft of an executive order President Trump is expected to sign on Thursday would seek to limit the broad legal protection that federal law currently provides social-media and other online platforms, according to people familiar with the draft.

The draft order would make it easier for federal regulators to hold companies such as Twitter and Facebook liable for curbing users’ speech, for example by suspending their accounts or deleting their posts, the people said. The draft is subject to change, the people said. It comes after Twitter moved for the first time to apply a fact-checking notice to tweets by the president on the subject of voter fraud. Mr. Trump on Tuesday accused the company of stifling free speech and vowed to take action.

The executive order would mark the Trump administration’s most aggressive effort to take action against social-media companies, which the president has threatened to do for years. The order would also likely be challenged in court, experts said.

Mr. Pompeo said waivers that protect foreign firms from U.S. sanctions for helping Iran convert its Arak reactor to produce less plutonium, will expire in 60 days. So will waivers for the provision of enriched uranium for Iran’s Tehran Research Reactor, and for importing Iran’s spent and scrapped research reactor fuel. He said the U.S. is providing a 90-day extension to the waiver for work on the Bushehr Nuclear Power Plant over safety concerns, but warned that allowance could also change depending on Iran’s activities.

Mr. Pompeo also announced sanctions against two officials of the Atomic Energy Organization of Iran.

The State Department is required by the Hong Kong Policy Act to assess the autonomy of the territory from China. U.S. endorsement of Hong Kong’s status has served as a seal of approval of the city’s role as a global financial center with Western-style rule of law. Among the practical outcomes of the special status, the U.S. has permitted exports of advanced technology equipment to Hong Kong that isn’t allowed to be sold elsewhere in China.

Secretary of State Mike Pompeo cited Beijing’s national-security legislation on Hong Kong as a motivating factor for the decision. The legislation, which was passed Thursday, prompted protests in Hong Kong on Wednesday.

The decision marks the first major court ruling on the fate of Huawei finance chief Meng Wanzhou, who has been detained in Vancouver on bail since she was arrested at the city’s airport in December 2018. 

• Two of China’s most valuable U.S.-listed companies, NetEase and JD.com, are pushing ahead with multibillion-dollar share sales in Hong Kong, amid growing pressure from U.S. lawmakers for greater financial scrutiny of Chinese companies. 
   
• A coalition of 23 states filed suit against the Trump administration’s easing of tailpipe-emissions standards, arguing that it violated the law and was based on faulty analyses. 
   
• Pharmaceutical companies are bracing for export bans on future coronavirus vaccines and spreading production across different continents, on early signs of a high-stakes geopolitical scramble to secure supplies for a scientific breakthrough that could confer enormous economic and political power.

Federal officials commandeered an electrical transformer built by closely held Jiangsu Huapeng Transformer Co. last summer and sent it, under federal escort, to Sandia National Laboratories in Albuquerque, N.M., according to people with knowledge of the matter.

What engineers at Sandia found isn’t publicly known, nor why it was seized. But the diversion suggests officials had significant security concerns, says Mike Howard, chief executive of the Electric Power Research Institute. The lab is operated by Honeywell International, which is under contract with the U.S. Energy Department and tasked with solving national-security threats.

The U.S. labor market continued to deteriorate and consumer spending fell further as retailers and restaurants remained largely closed in most of the country through mid-May, the Federal Reserve said. But the worst of the economy’s decline from the coronavirus crisis may be close to over, said John Williams, president of the New York Fed.  

Meanwhile, municipalities, tourist attractions and sports leagues continued to make plans for reopening.

More than 100,000 people in the U.S. have died from the new coronavirus.

• The European Union set out a $2 trillion coronavirus response plan to lift the region from its economic slump, including a massive pooling of national financial resources that, if approved, would deepen the bloc’s economic union in a way that even the eurozone debt crisis failed to achieve.
   
• More than 10 million of India’s suddenly jobless migrant workers are moving from cities back to their home villages, a historic reverse-migration that brings with it concerns about a new wave of coronavirus cases and social unrest in some of the poorest, least prepared places.

As states begin to lift the stay-at-home restrictions put in place to combat the coronavirus pandemic, some workers now say they are just fine working from home and would like to do so permanently. In response, employers are formulating plans to allow many staffers to keep working remotely when the crisis is over.

Upwork, a global freelancing platform, found that 61.9% of hiring managers plan more remote work for their hires than before the pandemic, according to a survey released Wednesday. The study concluded that the shift to working at home will further remove geographic barriers to hiring and allow employers to seek the best skilled workers regardless of where that talent resides.

As for those who miss the office? Some companies are building virtual replicas.

• General Electric is getting out of the business of making lightbulbs, selling a unit that defined the company for nearly a century and was its last direct link to consumers. GE said it would sell its lighting business to Savant Systems Inc., a seller of home-automation technology. GE had been looking to sell the business for several years. 
   
• The Renault-Nissan alliance said it would divide up its global car business, aiming to cut duplicate spending to save billions of dollars a year.
   
• HBO Max, AT&T’s newly launched streaming service, isn’t available on Amazon’s platforms as both companies remain at loggerheads over where the content will reside and who will have access to user data.