The U.S. Department of Commerce today released the final rule implementing the national security guardrails of the bipartisan CHIPS and Science Act.
The rule elaborates on two core provisions of the statute: the first, prohibiting CHIPS funds recipients from expanding material semiconductor manufacturing capacity in foreign countries of concern for ten years; and the second, restricting recipients from certain joint research or technology licensing efforts with foreign entities of concern.
The United States, the European Union and other proponents on Monday apparently failed to provide any convincing reasons as to why the World Trade Organization’s 1998 moratorium on customs duties on electronic transmissions should be continued beyond the 13th ministerial conference, which is going to be held in Abu Dhabi in February 2024, our correspondent writes.
The European Commission tabled a customs reform package on 17 May 2023. Along with a number of other provisions, key to the reform would be the establishment of an EU customs authority, which would oversee a new customs data hub.
In a recent speech, Marshall Miller, principal associate deputy attorney general, emphasized consistency, predictability, and transparency in the Department of Justice’s (DOJ) approach to corporate enforcement, particularly in relation to national security.
"National security laws must rise to the top of your compliance risk chart, with the recognition that even the most innocuous-looking transaction or activity could implicate our collective security."
3M has agreed to settle its potential civil liability for 54 apparent violations of OFAC sanctions on Iran that arose from its subsidiary’s sale of reflective license plate sheeting to an Iranian entity controlled by the Iranian Law Enforcement Forces. OFAC determined that these apparent violations were egregious and were voluntarily self-disclosed, and imposed a $9,618,477 settlement