On August 30th, BIS published Due Diligence Guidance regarding exports, re-exports, and transfers to Pakistan. With the increased concern regarding Pakistan’s nuclear program and risks of diversion, BIS is urging companies to conduct additional due diligence when it comes to transactions destined for Pakistan.
DDTC has entered into a new Consent Agreement with L3Harris Technologies for violations of the ITAR. The $13 million penalty alleges 131 violations of the regulations. Keep reading for some of our observations about this case.
Does your Compliance Manual still define Defense Articles as “specifically designed, developed, configured, adapted, or modified for a military application”? Does it still contain two different Destination Control Statements? Regulations and government policies change. Your manual must stay current with those changes.
In this blog, we'll discuss how you can effectively manage your company’s freight forwarders and customs brokers. These entities are vital parts of your supply chain, and they are also a critical component to successful trade compliance.
Within a few short weeks, the International Chamber of Commerce (“ICC”) will release the much-anticipated INCOTERMS 2020 and, as it did in 2010, the publication of the ICC decisions will change the landscape of international trade.
Capital One is famous for its slogan, “What’s in your wallet?” But in the world of trade compliance officers, the pertinent question might be, “What’s in your compliance plan?”
A new interim rule goes into effect today and prevents federal agencies from certain business transactions with a variety of Chinese technology firms. Read more.
According to Treasury Department statistics, during the first six months of 2019, the Office of Foreign Assets Control (OFAC) has issued nearly $1.3 billion in penalties. That represents 18 settled cases and is an amount which is 17 times greater than all of 2018 (when there were seven settled cases.)
On June 20, 2019, the Department of Justice announced that Walmart and its wholly owned Brazilian subsidiary plead guilty and agreed to pay a combined criminal penalty of $137 million to resolve allegations of violations of the Foreign Corrupt Practices Act (“FCPA”). The fines include $728,898 in criminal penalties, $3,694,490 in criminal forfeiture, plus a mandatory Special Assessment.
Proposed changes to the AECA include granting India Major Non-NATO Ally Status, however, at the same time, the U.S. is considering sanctions against them due to a proposed purchase of a Russian missile system. Will the amendment of the AECA be enough to convince India to cancel the purchase?