Export Compliance Daily
WEBSep 12, 2024 · The Office of Foreign Assets Control unveiled an interim final rule this week that will extend the agency’s sanctions-related record-keeping requirements from five years to 10 years. The rule, effective in mid-March, will align the agency’s record-keeping rules with a similar expansion of the statute of limitations for civil and criminal violations of U.S. sanctions as part of a bill ...
US Issues New Export Control Code of Conduct, Export Guidance
WEBMar 31, 2023 · The U.S. and more than 20 of its allies this week released an export controls code of conduct, establishing a new forum for “subscribing states” to share information and stop technologies from being used for human rights violations.The Bureau of Industry and Security also issued new guidance describing how it factors human rights issues into its export application decisions and outlining ...
Law Firm Expects US to Expand Statute of Limitations for EAR …
WEBMay 6, 2024 · President Joe Biden on April 24 signed into law a wide-ranging national security bill that extended the statute of limitations on certain sanctions violations from five to 10 years (see 2404290071 and 2404240043).Steptoe, in a May 2 client alert, said it envisions the U.S. making the same change for violations of the Export Administration Regulations to make sure U.S. enforcement powers are ...
Recent Export Control Enforcement Actions 'Just the Beginning,' …
WEBMay 18, 2023 · The new strike force, launched by DOJ and the Commerce Department in April (see 2302160019), is “sending a strong demand signal” from “headquarters” to prosecutors that the administration is prioritizing export control and sanctions cases, Axelrod said.But he also said the government had been working on this week's indictments -- which charged six people for trying to illegally ship ...
US Should 'Tread Lightly' Around New Export Controls, Lawmaker …
WEBJul 17, 2023 · Warner, speaking during an event last week hosted by the German Marshall Fund, was asked whether the U.S. needs to better regulate certain activities by cloud providers, which are reportedly being used as a loophole by Chinese companies to acquire advanced semiconductors. The Bureau of Industry and Security has said it’s looking at ways to stop China from specifically using rental agreements ...
US Shares Export Control Evasion Trends Identified by Banks ...
WEBSep 12, 2023 · The report comes after FinCEN and BIS in recent months issued two joint alerts, including one that was designed to put companies and entities “on notice” about the types of red flags they should be monitoring for potential Russian sanctions and export control evasion tactics (see 2210060043).The alert also created a new code for financial institutions to include in their Bank Secrecy Act ...
Lawmakers Call for More China, Huawei Controls - Export …
WEBJul 21, 2023 · Gallagher, speaking during a July 20 committee hearing, said new export controls and other trade restrictions against China have been “stuck” in “interagency purgatory,” adding that he believes new Huawei controls were sacrificed to ease diplomatic tensions with Beijing.Other lawmakers have also accused the Biden administration of delaying new export controls and sanctions against ...
Export Controls on Semiconductor Manufacturing Equipment …
WEBJun 9, 2021 · Export Compliance Daily. Detailed and comprehensive, Export Compliance Daily delivers the perfect mix of strategic developments and operational changes that allows export compliance professionals to understand what has changed, how it will impact their operations, and which products/geographies will be affected.
Senate Confirms Export Enforcement Nominee
WEBDec 21, 2021 · Export Compliance Daily. Detailed and comprehensive, Export Compliance Daily delivers the perfect mix of strategic developments and operational changes that allows export compliance professionals to understand what has changed, how it will impact their operations, and which products/geographies will be affected.
Industry Urges Commerce to Pursue Multilateral Export Controls, Chip ...
WEBApr 7, 2021 · The comments, submitted to the Bureau of Industry and Security as it looks to boost the competitiveness of the U.S. semiconductor industry (see 2103110047), underscore the increasing importance chip companies and the U.S. government are placing on addressing risks in semiconductor supply chains.The comments will help inform Commerce’s policy recommendations to the White House as part of a ...