Export Compliance Daily
2024年10月16日 · 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 ...
US Machine Tool Maker Fined for Sales to Restricted Entities in …
1 天前 · California-based machine tool manufacturer Haas Automation will pay more than $2.5 million to the U.S. government after being accused of illegally shipping parts and other items to sanctioned and Entity Listed companies in China and Russia. The penalty holds “accountable companies that do not put ...
BIS Asked to Hold off on Cloud Export Controls, Clarify Chip Rules
2024年2月5日 · In more than 100 pages of comments recently made public by the Bureau of Industry and Security, businesses asked the administration to refine the chip control parameters that were updated in rules last year, more clearly define what some said are vague terms and definitions, improve the rules’ new chip export notification process, work to convince allies to impose the same measures and ...
BIS Should Require Export Compliance Programs to Include …
2024年12月20日 · Despite having “significant authority” to enforce export controls, BIS does not fully use it, enabling chips to continue flowing illegally to Russia and China, says the 32-page report, unveiled by Sen. Richard Blumenthal, D-Conn., the subcommittee’s chair.The document says the agency fails to require chip manufacturers to include specific components in their export control compliance ...
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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 Passes Bill to End Export Control 'Loophole' for Chips
2024年9月11日 · Sponsors of the cloud measure said Chinese companies have exploited the loophole to get around U.S. export controls on chips and develop artificial intelligence technology for China’s military. "China is our number one geopolitical foe and should have absolutely no way to access and steal American tech for their own nefarious purposes," said Rep. Mike Lawler, R-N.Y., who introduced the bill ...
BIS Codifies VSD Policies, Removes Caps on Non-Egregious Base …
2024年9月13日 · The changes, effective Sept. 16, are “important steps in institutionalizing” the host of enforcement updates spearheaded by Matthew Axelrod, the BIS assistant secretary for export enforcement, since 2022, he said in a news release.. “The stakes of ensuring that we have the proper tools to deter export violations and -- when that deterrence fails -- to hold violators accountable could not ...
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.
Recent Export Control Enforcement Actions 'Just the Beginning,' …
2023年5月18日 · 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 ...