Export Compliance Daily
Dec 12, 2024 · Paul Rosen, who has served as the Treasury Department’s lead official for the Committee on Foreign Investment in the U.S. since being confirmed by the Senate in 2022 (see 2205250017), left the agency earlier this month, he announced on LinkedIn.. Rosen, who was Treasury’s assistant secretary for investment security, took several steps meant to boost the committee’s enforcement powers ...
2024 Bulletins - exportcompliancedaily.com
The Bureau of Industry and Security on Oct. 23 will add 26 companies and people to the Entity List for trying to buy controlled U.S. items for China’s military, evade sanctions against Russia, supply sensitive goods to Iran or Pakistan, or for evading U.S. end-use checks, the agency said in a final rule released Oct. 21. BIS will also remove two entities from the list …
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Export Compliance Daily
Oct 16, 2024 · U.S. aerospace firm RTX tapped senior counsel Lara Covington to head the company’s compliance with the deferred prosecution agreements announced last week with DOJ and the SEC, Covington announced on LinkedIn. Covington’s official title will be the executive director of the RTX DPA Compliance Program Office, where she will help “ensure the company successfully meets its obligations” to ...
Papers for Export Compliance Daily
Export regulators set enforcement records in 2022 on the backs of significant sanction activity against Russia, technology restrictions against China, and a number of other new controls. To help export compliance professionals, trade lawyers and others stay up to date with current enforcement trends ...
Articles for “Top News”
6 days ago · The Bureau of Industry and Security fined a U.S.-based electronics manufacturer and supplier for the semiconductor industry $180,000 after it admitted to exporting 11 shipments to Russia without a license.
Chip Industry Supplier Fined After BIS Says It Failed to Address …
5 days ago · The violations, which Indium admitted to, took place between April 2022 and March 2022, all involved items controlled by the Export Administration Regulations as EAR99 -- which are generally low-level technology items that don’t require a specific license. But the items shipped by Indium did ...
Financial Firms Responsible for ‘Ongoing’ Export Due Diligence, …
Oct 10, 2024 · The six-page guidance, released by BIS Oct. 9, offers a set of best practices that companies operating in the financial industry should follow to “minimize their risk” of violating U.S. export control regulations, including how they should screen customers, verify customer compliance with export laws, and create other “risk-based procedures” to catch and investigate red flags before ...
Industry Urges BIS to Scale Back, Clarify Proposed End-User Controls
Oct 23, 2024 · The proposed rules -- which could place controls on all items subject to the Export Administration Regulations when destined to military end-users in certain countries, along with other restrictions (see 2407250032) -- were widely panned in public comments submitted to BIS and published this month. Multiple companies said the restrictions, if finalized, would place unparalleled due diligence ...
BIS ‘Asking More’ of Banking Export Compliance Teams, Senior …
Nov 4, 2024 · Banks that choose not to follow a set of export compliance best practices recently issued by the Bureau of Industry and Security may be leaving themselves “wide open” to possible penalties under U.S. export regulations, a senior BIS official said, especially if they don’t have other compliance safeguards in place.