8. Export Enforcement Case Study: Flowserve's $3 Million Global Settlement

Price: $180.00

Item SKU: FLOWCD2011

What happens when a multinational firm discovers violations of U.S. export controls among its domestic facilities and foreign subsidiaries in numerous countries? That's the dilemma Flowserve faced when its headquarters learned that several of its facilities may have violated the Export Administration Regulations and sanctions imposed by the Office of Foreign Assets Control (OFAC). After making a voluntary self-disclosure, Flowserve and 10 of its subsidiaries reached a global settlement and agreed to pay $3 million in civil penalties. What can you learn from Flowserve's experience? When is an internal audit needed? What benefits come from submitting a voluntary disclosure? How do you negotiate global settlements with government regulators? How can remedial actions cut your potential fines? This timely audio-conference briefing will answer these and many other questions. Our speakers are Scott E. Sullivan, VP Global Trade, Compliance & Corporate Inquiries, Flowserve Corporation; George D. Richardson, Special Agent in Charge, Bureau of Industry and Security, South Central U.S. Region (Dallas, Texas); Gregory Michelsen, Senior Counsel in Commerce's Office of Chief Counsel for Industry and Security; and Eric McClafferty, Partner, Kelley Drye & Warren. To receive a CD recording of this briefing and speaker PowerPoints, just click Add to Cart above.