Wabtec Corporation (“Wabtec”)—a global manufacturer and supplier of rail technology headquartered in Pittsburgh, Pennsylvania—recently settled an administrative enforcement proceeding with the U.S. Department of Commerce’s...more
2/8/2024
/ Antiboycott Requirements ,
Bureau of Industry and Security (BIS) ,
Compliance ,
Corruption ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Policy ,
Foreign Relations ,
Regulatory Violations ,
US Trade Policies
On January 16, 2024, the U.S Department of Commerce’s Bureau of Industry and Security (“BIS”) released a series of enhancements to its existing voluntary self disclosure (“VSD”) program, pursuant to which organizations...more
On December 31, 2021, President Joseph R. Biden, Jr. signed the the Uyghur Forced Labor Prevention Act (“UFLPA”) into law to address the ongoing exploitation of the ethnic minority Uyghur population by the government of the...more
1/25/2024
/ China ,
Compliance ,
Corruption ,
Customs and Border Protection ,
Entity List ,
Exploitation ,
Forced Labor ,
Foreign Policy ,
Human Rights ,
Popular ,
Supply Chain ,
Uyghur Forced Labor Prevention Act (UFLPA)
As global political tensions continued to escalate on multiple fronts, the 2023 calendar year saw a noticeable increase in the number of enforcement actions initiated by the U.S. government against entities and individuals...more
On December 14, 2023, Congress passed the Foreign Extortion Prevention Act (“FEPA”) in an effort to address certain deficiencies inherent in the current iteration of the Foreign Corrupt Practices Act (“FCPA”), as part of the...more
1/9/2024
/ Anti-Bribery ,
Anti-Corruption ,
Bribery ,
Compliance ,
Corruption ,
FEPA ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
NDAA ,
Proposed Regulation ,
Regulatory Agenda ,
White Collar Crimes
On December 22, 2023, President Joseph R. Biden, Jr. issued an executive order—”Taking Additional Steps With Respect to the Russian Federation’s Harmful Activities”—that subjects certain foreign financial institutions that...more
1/9/2024
/ Biden Administration ,
CAPTA List ,
Economic Sanctions ,
Executive Orders ,
Financial Transactions ,
Foreign Financial Institutions (FFI) ,
Foreign Policy ,
Foreign Relations ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
U.S. Treasury
New guidance from the Biden Administration mandates that freight forwarders are responsible for complying with trade sanctions and export compliance. On December 11, 2023, the Biden Administration released a 10-page sanctions...more
12/19/2023
/ Biden Administration ,
Compliance ,
Export Controls ,
Exporters ,
Exports ,
Freight Forwarding ,
Goods or Services ,
Motor Carriers ,
New Guidance ,
Risk Mitigation ,
Shipping ,
Shipping Cargo ,
Supply Chain ,
Trucking Industry ,
US Trade Policies ,
Vessels ,
WMD
As we have repeatedly noted in the context of other blog posts and webinars in which various representatives of The Volkov Law Group have participated, the violation of existing U.S. sanctions and export control regulations...more
12/8/2023
/ Compliance ,
Criminal Conspiracy ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
Exports ,
Failure to Comply ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Policy ,
Foreign Trade Regulations ,
Russia ,
Sanction Violations ,
Semiconductors ,
Ukraine
On November 3, 2023, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) announced that a settlement had been reached with Forta —a domestic synthetic fiber manufacturer—for its conduct in agreeing to a...more
On November 6, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) released a new joint notice concerning...more
11/27/2023
/ Bureau of Industry and Security (BIS) ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Export Control Reform (ECR) ,
Export Controls ,
Exports ,
FinCEN ,
Foreign Policy ,
Foreign Relations ,
Joint Statements ,
Popular ,
Russia ,
Suspicious Activity Reports (SARs) ,
U.S. Treasury
Recent comments from the top leadership of both the Directorate of Defense Trade Controls (“DDTC”) and Bureau of Industry and Security (“BIS”) during a government and defense industry conference last week should give all...more
11/10/2023
/ Bureau of Industry and Security (BIS) ,
Commerce Control List ,
Compliance ,
Data Management ,
Directorate of Defense Trade Controls (DDTC) ,
Export Administration Regulations (EAR) ,
Export Controls ,
ITAR ,
Misclassification ,
Technical Standards ,
US Trade Policies
On October 26, 2023, the Parliament of the United Kingdom of Great Britain and Northern Ireland enacted—after obtaining Royal Assent—a sweeping set of statutory requirements aimed squarely at combating fraud and money...more
As The Volkov Law Group previously noted in the context of a blog post authored by Michael Volkov, the U.S. Department of Justice (“DOJ”)—at the behest of Deputy Attorney General Lisa Monaco—recently updated the requirements...more
One thing you can count on — change. Not that there is anything wrong with that, but not to be too dramatic, we are at the precipice of some significant technology trends that will have a profound impact on corporate...more
10/12/2023
/ Bring Your Own Device (BYOD) ,
Commercial Litigation ,
Compliance ,
Data Preservation ,
Data Protection ,
Department of Justice (DOJ) ,
Electronic Communications ,
Electronically Stored Information ,
Google ,
Internal Investigations ,
Popular ,
Regular Business Communications
On September 27, 2023, the United States Department of Commerce’s Office of Antiboycott Compliance, a division of the Bureau of Industry and Security (“BIS”), publicized an unanticipated and relatively rare enforcement action...more
9/13/2023
/ Antiboycott Requirements ,
Bureau of Industry and Security (BIS) ,
Compliance ,
Corruption ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Policy ,
Foreign Relations ,
Popular ,
US Trade Policies
Third-party relationships supporting core operations are now more important than ever for most organizations. Yet too often, procurement, information security, compliance, and other professionals are overburdened with the...more
Third-party relationships supporting core operations are now more important than ever for most organizations. Yet too often, procurement, information security, compliance, and other professionals are overburdened with the...more