Tagged: Bureau of Industry and Security

6 Nov, 2024

BIS Imposes $500,000 Penalty on Semiconductor Manufacturer for Entity List Violations

On November 1, 2024, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) imposed a $500,000 monetary penalty on GlobalFoundries U.S. 2 LLC and its parent, GlobalFoundries U.S. Inc., for a series of unauthorized exports to SJ Semiconductor (“SJS”), a restricted party contained on BIS’s ubiquitous Entity List. This recent enforcement action reflects BIS’s steadfast commitment to enforcing U.S. export controls, especially in...

General

22 Oct, 2024

BIS Issues Guidance for Financial Institutions Concerning EAR Compliance

On October 9, 2024, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued critical guidance aimed at enhancing financial institutions’ compliance with the Export Administration Regulations (“EAR”). This development comes at a time when financial institutions are increasingly becoming focal points in the enforcement of U.S. export controls, particularly given the geopolitical tensions following Russia’s further incursion into Ukraine and the ongoing...

General

2 Oct, 2024

Commerce Department Updated its Voluntary Self-Disclosure Policy for Export Controls Violations

The Commerce Department’s Bureau of Industry and Security (“DOC-BIS”) is adopting procedures to generate voluntary self-disclosures for violations of export controls laws. Companies have to weigh carefully the risks when deciding whether to make such a disclosure. The Justice Department and DOC-BIS are building joint prosecutions — criminal and civil — against companies for export control violations. This new era is coming and companies have...

General

12 Jun, 2024

BIS Announces Settlement of Antiboycott Violations with Airbus Space and Defense Subsidiary

On June 3, 2024, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) announced the resolution of an administrative enforcement action brought against Airbus DS Government Solutions (“Airbus DSGS”)—a subsidiary of defense giant Airbus U.S. Space & Defense—for multiple violations of longstanding antiboycott regulations that effectively prohibit U.S. Persons from engaging in any activity that would constitute the support of unauthorized foreign boycotts. ...

General

22 Nov, 2023

BIS and FinCEN Release Joint Notice Concerning Global Export Control Evasion

Alexander J. Cotoia currently serves as the Regulatory Compliance Manager at The Volkov Law Group, where he regularly advises the firm and its clients on the latest developments implicating trade compliance concerns. He may be reached at [email protected]. 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...

General

28 Apr, 2023

BIS Clarifies Approach to Export Enforcement Concerning Voluntary Self Disclosures and Reporting of Third Party Misconduct under Guise of “Policy Clarifications”

Alex Cotoia, Regulatory Manager at The Volkov Law Group, rejoins us for an important posting on policy clarifications issued by the BIS Office of Export Enforcement. Alex can be reached at [email protected]. On April 18, 2023, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) Office of Export Enforcement (“OEE”) released a set of “policy clarifications” in the context of a memorandum authored...

General

19 Oct, 2022

BIS Adopts New Export Controls Aimed at Impeding China’s Ability to Acquire Advanced Computing Capabilities

Alex Cotoia, Regulatory Manager at The Volkov Law Group, rejoins us for an important posting on new Commerce Department rules relating to computer product exports to China. Alex can be reached at [email protected]. On October 13, 2022, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) published an interim final rule that significantly expanded export controls designed to thwart China’s efforts to acquire...

General

17 Aug, 2022

Department of Commerce Bureau of Industry and Security Brings Enforcement Actions Reflecting New Policies

The Commerce Department has adjusted its export control enforcement program. The Bureau of Industry and Security (“BIS”) announced the new administrative policies and gave notice to the industry and public. BIS is now bringing enforcement actions under this new regime. Luis Fernando Garcia BIS entered into a settlement agreement with Luis Fernando Garcia, the owner of GE Equipos de Seguridad, who sought to illegally export...

General

28 Jul, 2022

Commerce Department Tacks to New Aggressive Enforcement Program

The Commerce Department’s Bureau of Industry and Security (“BIS”) has decided to join the enforcement club. BIS’s recent announcement of new policies to administrative actions should not be surprising. Matthew Axelrod, the Assistant Secretary of Commerce for Export Enforcement, promised to ramp up enforcement during his confirmation hearings. The Biden Administration has promised an increase in regulatory enforcement, and there is no question that enforcement...

Tagged: Bureau of Industry and Security

BIS Imposes $500,000 Penalty on Semiconductor Manufacturer for Entity List Violations

BIS Issues Guidance for Financial Institutions Concerning EAR Compliance

Commerce Department Updated its Voluntary Self-Disclosure Policy for Export Controls Violations

BIS Announces Settlement of Antiboycott Violations with Airbus Space and Defense Subsidiary

BIS and FinCEN Release Joint Notice Concerning Global Export Control Evasion

BIS Clarifies Approach to Export Enforcement Concerning Voluntary Self Disclosures and Reporting of Third Party Misconduct under Guise of “Policy Clarifications”

BIS Adopts New Export Controls Aimed at Impeding China’s Ability to Acquire Advanced Computing Capabilities

Department of Commerce Bureau of Industry and Security Brings Enforcement Actions Reflecting New Policies

Commerce Department Tacks to New Aggressive Enforcement Program

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