Export Compliance Daily
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 ...
Export Due Diligence Challenges Causing Companies to Cancel …
2024年8月28日 · Some companies are struggling to meet a due diligence threshold set by the U.S. government for sales to foreign suppliers accused of illegal sales to Russia, said Anne van de Heetkamp, vice president of product management for global trade intelligence at Descartes Systems Group.
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Financial Firms Responsible for ‘Ongoing’ Export Due Diligence, …
2024年10月10日 · 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 ...
BIS ‘Asking More’ of Banking Export Compliance Teams, Senior …
2024年11月4日 · 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.
Industry Urges BIS to Scale Back, Clarify Proposed End-User Controls
2024年10月23日 · 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 ...
House Continues to Seek Outbound Investment Deal
2024年10月28日 · After months of negotiations, House lawmakers remain hopeful they can reach a compromise on a bill to restrict outbound investment in China, House Financial Services Committee Chairman Rep. Patrick McHenry, R-N.C., said Oct. 25.
BIS to Add 26 to Entity List, Remove 2
2024年10月21日 · 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 and update the address ...
Export Enforcement Risks to Continue Rising No Matter Election …
2024年11月1日 · Axelrod, speaking during an Oct. 31 event hosted by risk intelligence firm Kharon, acknowledged that some policies experience “stark reveals” when a new U.S. administration takes over. “This is not one of them,” he said of export controls. “It's been a straight-line trajectory, and I expect that straight-line trajectory to continue no matter what happens next week.”
Senate Panel Seeks Scrutiny of Export Control Evasion, Possible …
2024年7月30日 · A new report accompanying the Senate Appropriations Committee’s FY 2025 Commerce-Justice-Science Appropriations Bill calls for the Bureau of Industry and Security to conduct several export control reviews, including one that identifies regulatory “gaps” that have allowed controlled U.S. technology, especially semiconductor technology, to flow to China without a license (see 2407260054).