You are reading the December 2024 Update of the Bass, Berry & Sims Enforcement Roundup, where we bring notable enforcement actions, policy changes, interesting news articles, and a bit of our insight to your inbox.Continue Reading International Trade Enforcement Roundup – December 2024
Thad McBride
Thad McBride advises public and private companies on the legal considerations essential to successful business operations in a global marketplace. He focuses his practice on counseling clients on compliance with U.S. export regulations (ITAR and EAR), economic sanctions and embargoes, import controls (CBP), and the Foreign Corrupt Practices Act (FCPA). He also advises clients on anti-boycott controls, and assists companies with matters involving the Committee on Foreign Investment in the United States (CFIUS). Thad supports international companies across a range of industries, including aviation, automotive, defense, energy, financial services, manufacturing, medical devices, oilfield services, professional services, research and development, retail, and technology. Beyond advising on day-to-day compliance matters, Thad regularly assists clients in investigations and enforcement actions brought by government agencies, including the U.S. Department of Justice (DOJ), the U.S. Treasury Department Office of Foreign Assets Control (OFAC), the U.S. State Department Directorate of Defense Trade Controls (DDTC), Customs and Border Protection (CBP), the U.S. Commerce Department Bureau of Industry & Security (BIS), and the Securities & Exchange Commission.
German Company Pays $14.55 Million to Settle Violations of U.S. Sanctions on Iran
Key Points:
- Long-arm of U.S. sanctions jurisdiction reaches conduct by European company.
- Violation involved shipment to Iran from Australia, a close U.S. ally.
On December 3, the Treasury Department’s Office of Foreign Assets Control (OFAC) announced that Aiotec GmbH, a German supplier of industrial equipment for the energy sector, agreed to pay $14,550,000 to settle its potential civil liability for violating the Iranian Transactions and Sanctions Regulations (ITSR). The settlement agreement can be found here. The press release can be found here.Continue Reading German Company Pays $14.55 Million to Settle Violations of U.S. Sanctions on Iran
International Trade Enforcement Roundup – November 2024
You are reading the November 2024 Update of the Bass, Berry & Sims Enforcement Roundup, where we bring notable enforcement actions, policy changes, interesting news articles, and a bit of our insight to your inbox.
Continue Reading International Trade Enforcement Roundup – November 2024
Join Us for a Pre-Conference Workshop at the Global Export Controls Forum
I’m excited to kick off the American Conference Institute’s 14th Annual Advanced Forum on Global Export Controls with a pre-conference workshop on February 24, 2025, from 1:30–5:00 PM. Together with Sarah York, Senior Counsel for International Trade Compliance at GE Aerospace, I’ll lead Workshop B – An Updated Roadmap on Making High Stakes, Time-Sensitive Decisions.
This interactive, small-group session will tackle critical compliance challenges, including:Continue Reading Join Us for a Pre-Conference Workshop at the Global Export Controls Forum
International Trade Enforcement Roundup – October 2024
You are reading the October 2024 Update of the Bass, Berry & Sims Enforcement Roundup, where we bring notable enforcement actions, policy changes, interesting news articles, and a bit of our insight to your inbox.Continue Reading International Trade Enforcement Roundup – October 2024
International Trade Enforcement Roundup – September 2024
You are reading the September 2024 Update of the Bass, Berry & Sims Enforcement Roundup, where we bring notable enforcement actions, policy changes, interesting news articles, and a bit of our insight to your inbox.Continue Reading International Trade Enforcement Roundup – September 2024
Insight on U.S. Foreign Investment Regulations for ABA Business Law Today
We recently authored an article for Business Law Today offering insight into a proposed amendment to the operations of the Committee on Foreign Investment in the United States (CFIUS), the interagency committee that reviews foreign investment in the United States for potential national security implications.Continue Reading Insight on U.S. Foreign Investment Regulations for ABA Business Law Today
International Trade Enforcement Roundup – Summer 2024
You are reading the Summer 2024 Update of the Bass, Berry & Sims Enforcement Roundup. After a short hiatus, we are back to reporting on notable enforcement actions and policy changes and providing a bit of our insight.Continue Reading International Trade Enforcement Roundup – Summer 2024
Effects of UFLPA on U.S. Importers
In an article for Law360, I examined recent updates related to the Uyghur Forced Labor Prevention Act (UFLPA). The UFLPA bans U.S. companies from importing “goods, wares, articles or merchandise” that were produced using forced labor.Continue Reading Effects of UFLPA on U.S. Importers
AI and International Trade Aspects of Contractual Agreements
We recently authored an article published by Law.com emphasizing the significance of incorporating specific international standards, such as ISO/IEC 27001 for data security and ISO 9001 for quality management, into contractual agreements when dealing with artificial intelligence (AI) and international trade. We discussed how this integration can help manage AI effectively, minimize risks, increase transparency, and foster trust among the parties involved.Continue Reading AI and International Trade Aspects of Contractual Agreements