Deputies of the REPO Task Force met in Washington to enhance sanctions enforcement efforts and bolster ongoing oligarch asset forfeiture initiatives. Participants from Australia, Canada, …
The recently unveiled United States Strategy on Countering Corruption delineates an ambitious approach to address corruption through a series of well-defined measures. This initiative, detailed under five distinct pillars, seeks to enhance the efficiency and effectiveness of existing government frameworks, both within and outside U.S borders. To curb corruption and its deleterious effects, the U.S. Government will organize its efforts around five mutually reinforcing pillars of work: 1. Modernizing, coordinating, and resourcing U.S. Government efforts to fight corruption; 2. Curbing illicit finance; 3. Holding corrupt actors accountable; 4. Preserving and strengthening the multilateral anti-corruption architecture; and, 5. Improving diplomatic engagement and leveraging foreign assistance resources to advance policy goals.
Bureau of Industry and Security (BIS) imposed a civil penalty of $48,750 against Pratt & Whitney's aftermarket parts division to resolve 13 violations of the antiboycott provisions of the Export Administration Regulations (EAR) (antiboycott regulations) PWCS voluntarily disclosed the conduct to BIS, cooperated with the investigation by BIS’s Office of Antiboycott Compliance (OAC), and took remedial measures after discovering the conduct at issue, all of which resulted in a significant reduction in penalty.
Treasury’s Office of Foreign Assets Control (OFAC) sanctioned a Sudanese Military Leader for his command of an entity whose members have engaged in acts of violence and human rights abuses, including the massacre of civilians, ethnic killings, and use of sexual violence. Meanwhile, in Stockholm, trial has begun for two senior executives of Lundin Oil, responsible for engaging the Sudanese Armed Forces to ensure security for their production interests in South Sudan in between 1997 and 2003.
Treasury's Office of Foreign Asset Control (OFAC) announced the removal of the motor yacht Flying Dragon from the list of Specially Designated Nationals and blocked Persons.
As of August 2023, EXIM continued to monitor a prior years's transaction of two satellites for the government of Mexico, according to a GAO audit of EXIM's compliance financing dual-use items. The first satellite, launched in December 2012, was a fixed-service satellite that went live in February 2013. The second, a mobile-service satellite, launched in October 2015 and became operational that December. The board last approved a new dual-use transaction in fiscal year 2012.
A federal grand jury in the District of Connecticut returned a superseding indictment charging a Connecticut-based oil and gas trader for his role in an alleged scheme to pay bribes to Brazilian officials to win contracts with Brazil’s state-owned and state-controlled energy company, Petróleo Brasileiro S.A. – Petrobras (Petrobras). The original charges against Glenn Oztemel and Innecco were unsealed on Feb. 15. In addition to the original charges against Glenn Oztemel and Innecco, the superseding indictment charges Gary Oztemel with conspiracy to violate the Foreign Corrupt Practices Act (FCPA), conspiracy to commit money laundering, and two counts of money laundering.
Commerce's Bureau of Industry and Security (BIS) issued a Temporary Denial Order (TDO) against three individuals and four companies implicated in illicitly supplying the Russian military with U.S.-sourced micro-electronics having significant military applications.
The Market Impact Committee is seeking public comments on the potential market impact of the Fiscal Year (FY) 2025 Annual Materials Plan (AMP) The Department of Defense (DOD) maintains a stockpile of critical and strategic materials known as the National Defense Stockpile (NDS). During a war or national emergency, this stockpile is meant to provide strategic and critical materials to support national defense and essential civilian requirements in a time of national emergency.
U.S. Commerce Secretary Gina Raimondo concluded a four-day visit to China this week, meeting with her counterpart, Chinese Commerce Minister Wang Wentao. The trip aimed to revive economic dialogue between the world's two largest economies, despite persistent tensions over trade issues and national security. According to a statement from the Chinese Commerce Ministry on Thursday, China has urged the U.S. to extend "equal treatment" to Chinese companies investing in the United States. "China demands the U.S. give equal treatment to Chinese enterprises investing in the U.S. in terms of market access, regulatory enforcement, public procurement, and policy support," said Shu Jueting, a commerce ministry spokesperson. China also raised "serious concerns" over the U.S. imposition of Section 301 tariffs, describing them as "discriminatory."
The Interagency Labor Committee for Monitoring and Enforcement received a Rapid Response Labor Mechanism (RRM) petition from a Mexican aviation union July 31. The petition, from Asociación Sindical de Pilotos Aviadores de México (ASPA), alleged retaliation against union members from Aerotransportes Mas de Carga (Mas Air), an airline based in Mexico City.
The State Department charged Island Pyrochemical Industries Corp. with three violations of the Arms Export Control Act and and the International Traffic in Arms Regulations on Aug. 25. According to the State Department, Island brokered with a Chinese company without its approval. The Department also charged Island with "falsely listing itself as the seller and source of the defense article on a DSP-5 license application" in 2015.
Under the Dodd-Frank Act, a whistleblower who exposes fraud can receive a monetary award and anti-retaliation protections through the U.S. Securities and Exchange Commission (SEC) Whistleblower Program - as long as they blow the whistle voluntarily. A definition of “voluntary” may seem simple enough. However, some Dodd-Frank whistleblowers who, acting of their own free will and without legal obligation, report fraud are considered “involuntary” simply because they reported to the media, other government agencies, foreign law enforcement, or a U.S. embassy.
Under the newly adopted § 766.24(d)(1), BIS is now permitted to request the Assistant Secretary for Export Enforcement to extend an existing TDO for up to one year, a substantial extension from the previous 180-day limit. This enhanced provision is triggered in cases where a subject party has exhibited a pattern of repeated and ongoing violations of the EAR, thereby justifying the need for a more protracted control mechanism.
In a statement released August, Paul Munter, Chief Accountant of the SEC stated the Commission's opinion that the corporate community's risk assessment is inadequate and too narrowly focused. "We are troubled by instances in which management and auditors appear too narrowly focused on information and risks that directly impact financial reporting, while disregarding broader, entity-level issues that may also impact financial reporting and internal controls," Munter writes.
The Department of State is imposing sanctions and pursuing visa restrictions onindividuals and entities connected to forcible transfer and deportation of Ukraine’s children. "On Ukrainian Independence Day, we are sanctioning two entities and 11 individuals for their involvement in the forcible transfer of Ukraine’s children to Russia-occupied areas. Ukraine’s children are not forgotten,” Secretary Blinken on Twitter.
OFAC is releasing the second episode of its “Introduction to OFAC” web series, a series of short videos created to provide viewers with a high-level introduction on the fundamentals of …
The Regulations and Procedures Technical Advisory Committee (RPTAC) will meet September 12, 2023, 9:00 a.m., Eastern Daylight Time, in the Herbert C. Hoover Building, Room 3884, 1401 Constitution …
As detailed in the initial TDO issued on February 24, 2023, Balakaev engaged in conduct prohibited by the Regulations by unlawfully procuring and exporting from the United States electronic …
The U.S. Department of the Treasury is pleased to announce the second annual Committee on Foreign Investment in the United States (CFIUS) Conference, which will take place on Thursday, September 14th at the U.S. Department of the Treasury. This event will feature keynote speeches and panel discussions with representatives from across the U.S. Government who will provide insights on topics relevant to the Committee’s work.