Alex Cotoia, Regulatory Manager and Compliance Consultant at The Volkov Law Group, rejoins us for the second part of his blog posting on Chinese trade and security issues. Alex can be reached at [email protected]. On November 17, 2021, a bipartisan congressional commission—the U.S.-China Economic and Security Review Commission—released a series of recommendations that called upon the Congress itself to assume a more proactive role in...

Alex Cotoia, Regulatory Manager and Compliance Consultant at The Volkov Law Group, rejoins us for a two-part posting on emerging developments in U.S.-China trade issues. Alex can be contacted at [email protected]. As diplomatic tensions between Washington and Beijing continue to escalate, U.S. owned businesses dependent on the sale and export of more sensitive advanced technologies to the People’s Republic of China (“PRC”) should take heed...

The crushing aftermath of the tragic 737 MAX scandal is disturbing at the least.  Innocent lives were lost because of Boeing’s culture misfires, poor leadership at the management and board level, and an arrogant disregard for the impact of safety concerns. Boeing’s 737 MAX fleet was grounded for twenty months, until November 18, 2020.  Boeing was ordered by the FAA to cure the defects in...

In its decision, the Chancery Court methodically analyzed the weaknesses in Boeing’s board processes and its fundamental failure to meet basic Caremark standards in tackling airplane safety issues, particularly after the Lion Air crash in 2018. First, the Board did not implement or prioritize safety oversight at the “highest level of the corporate pyramid.”  None of Boeing’s Board committees were specifically assigned responsibility for overseeing...

Mashreqbank, based in Dubai, agreed to pay $100 million to the New York Department of Financial Services, the Federal Reserve, and the Office of Foreign Asset Control for violation of the now-repealed Sudan Sanctions Regulations.  The Sudan Sanctions Regulations were repealed on June 29, 2018. OFAC issued only a Finding of Violation, rather than impose a civil penalty, in light of Mashreqbank’s willingness to agree...

For all the hype about ESG, board accountability, stakeholder demands for diversity and inclusion, a recent report on board diversity shows little change.  That is not surprising.  The forces of resistance to change are particularly strong, especially when directed at corporate boards.  What is surprising is how resistance clings to practices that directly undermine efficiency and financial profitability.  Board diversity improves governance performance and that...