TRADE COMPLIANCE: RISK ASSESSMENT Risk Assessment is analyzing external threats against company procedures to identify where vulnerabilities exist and what procedures can be implemented or improved to reduce risk. First thing to do is understanding your business: What do you ship, how do you ship, where do you ship to, where to you ship from and to whom do you … [Read more...]
Anti-Boycott Settlement with Westlake Vinyls Company
Anti-Boycott Settlement with Westlake Vinyls Company The Bureau of Industry and Security (BIS) reports that a Texas company, Westlake Vinlys Company, will pay a $12,000 civil penalty to settle charges that it violated the anti-boycott provisions of the Export Administration Regulations in connection with exports to the United Arab Emirates. Westlake Vinyl was charged … [Read more...]
DOJ: Man from China Sentenced to 15 Months in Prison for Trafficking in Counterfeit Computer Chips
DOJ: Man from China Sentenced to 15 Months in Prison for Trafficking in Counterfeit Computer Chips Daofu Zhang, 40, of Shenzen, China, was sentenced to 15 months of imprisonment for conspiring to sell counterfeits of sophisticated integrated circuits to a purchaser in the United States. From the press release: According to court documents and statements made in court, … [Read more...]
Company Fined for Antiboycott Violations
Company Fined for Antiboycott Violations A Texas company, RHDC International, LLC, will pay a civil penalty of $9,000 to settle charges from The Bureau of Industry & Security (BIS) that it committed five violations of the antiboycott provisions of the Export Administration Regulations. The allegations involved transactions involving the sale and/or transfer of goods, … [Read more...]
SEC Charges $15 Million For FCPA Violations
SEC Charges $15 Million For FCPA Violations The Securities and Exchange Commission announced that Massachusetts-based medical device manufacturer Analogic Corp. and its wholly-owned Danish subsidiary have agreed to pay nearly $15 million to settle parallel civil and criminal actions involving Foreign Corrupt Practices Act (FCPA) violations. An SEC investigation found that … [Read more...]