The Bureau of Industry and Security (BIS) will hold the 2023 Update Conference on Export Controls and Policy from Tuesday, November 28 through Thursday, November 30 at the Marriott Marquis hotel in …
The Bureau of Industry and Security (BIS) oversees the administration of this authority via the Export Administration Regulations (EAR). The BIS manages a system that controls the export, re-export, …
Treasury's Office of Foreign Assets Control (OFAC) has published Guidance to Industry on Iran’s UAV-Related Activities. The The 12 page document advises industries on how to avoid …
The State Department announced Tuesday that work to manufacture and lay the East Micronesia Cable (EMC) is officially underway. The EMC Management Committee members have signed the …
Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on a network encompassing seven individuals and six entities across Iran, China, and Hong Kong, citing links to Iran's ballistic missile program. The June 6 action accused the network of facilitating procurement and financial transactions for critical components and technology required for Iran's ballistic missile development.
Export practitioners and regulators were called to the hill in recent weeks to explain to lawmakers what was being done and what could be improved. BIS and Treasury Officials fielded queries in the Senate, while an oversight committee in the House invited former Commerce officials to discuss what could be done better.
The Financial Crimes Enforcement Network (FinCEN) and the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce have issued a supplemental joint alert urging financial institutions …
Assistant Attorney General Kenneth Polite Jr. , head of the Department of Justice's (DOJ) criminal division, reports an increase in corporate disclosures following the implementation of new …
It isn’t front and center in the news, but it seems everybody thinks Cuba is the next big thing, and it's been the next big thing for a long time. Our readers would like to hear what you suggest, to Industry and the academic community, about how to engage and how to stay out of trouble in the process
A year ago, a breakthrough was expected in the U.S.-Cuba economic relationship when the Biden administration approved the first OFAC license allowing direct investment in and direct financing to a privately-owned Cuban company. However, no funds have been delivered, due to a lack of regulatory framework by the Cuban government, and conviction in Washington is lacking.
The Administration is once again making use of the rapid response labor mechanism in the US- Mexico-Canada Agreement to deal with alleged worker rights violations at a Mexican factory, this time naming a Mexican-controlled entity. …
In their Joint Statment, members of the US - EU Trade and Technology Council expressed support for the ongoing sanctions activities, export and investment controls:
The United States was the world's largest services market and was the top exporter and importer of services in 2021, according to a new report released by the U.S. International Trade Commission (USITC). Preliminary data for 2022 indicate an increase of 15.9 percent in total services exports compared to the previous year.
Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions against two Syrian money service businesses, Al-Fadel Exchange and Al-Adham Exchange Company, for their covert aid to the …
Treasury’s Office of Foreign Assets Control (OFAC) designated four companies generating revenue from, and contributing to, the conflict in Sudan. The entities designated today are affiliated with the two embattled forces that are fueling the ongoing conflict in Sudan: two companies affiliated with the paramilitary Rapid Support Forces (RSF) and two companies affiliated with the Sudanese Armed Forces (SAF). Consistent with OFAC’s policy of supporting the basic needs of vulnerable populations while continuing to deny resources to malign actors, OFAC is issuing three general licenses (GLs) concurrent with today’s action.
The Vietnamese government-owned company VTA Telecom Corporation (VTA) has been administratively debarred for violating the International Traffic in Arms Regulations (ITAR), according to a public notice issued by the Department of State. VTA Telecom Corporation was found to have exported or attempted to export ITAR-controlled defense articles, including hobby rocket motors, video trackers, and a gas turbine engine, without proper authorization.
Directorate of Defense Trade Controls (DDTC) has released new frequently asked questions (FAQs) regarding the Open General License (OGL) Pilot Program. In addition, DDTC has released updated versions of previously published OGL FAQs and related factsheet
American fashion brand Guess has reacquired its 30% stake from its Russian partner Vyacheslav Shikulov, an unusual move for the Russian fashion market. The deal, valued at €8 million (US$8.5 million), has consolidated 100% of Guess's Russian business after receiving approval from the US Treasury Department.
Weibao Wang, a former software engineer for Apple Inc. and executive at an electric vehicle startup owned by Chinese firms Baidu and Geely, was indicted and charged by the U.S. Department of Justice for allegedly stealing Apple's proprietary self-driving technology.
Koninklijke Philips N.V., a leading global manufacturer of health technology products, has agreed to pay over $62 million in settlement charges brought by the US Securities and Exchange Commission (SEC). The Dutch company has been accused of engaging in improper conduct and bidding practices in China between 2014 and 2019, which involved influencing foreign officials to increase the likelihood of their products being chosen in public tenders.