International Trade

On April 11, the U.S. Treasury Department promulgated a Notice of Proposed Rulemaking (NPRM) amending the regulations that govern the operations of the Committee on Foreign Investment in the United States (CFIUS) to increase penalties on offenders, expand CFIUS authority to request information, and tighten the time frame parties have to respond to drafts of mitigation agreement terms. CFIUS is the U.S. government’s interagency body that reviews potential national security concerns resulting from foreign investments in and acquisitions of U.S. businesses.Continue Reading CFIUS Update: Larger Penalties, Sharper Monitoring

On April 5, the Department of Homeland Security (DHS) announced a plan to crack down on illicit trade in the textile industry. The announcement comes as DHS has been urged, especially by the textile industry, to more proactively and fully enforce the Uyghur Forced Labor Prevention Act (UFLPA), including adding parties to the UFLPA Entity List. Continue Reading New Enforcement Plan, Recent Court Filing Can Help Flesh Out UFLPA Obligations

On March 14, the U.S. Treasury Department, Office of Foreign Assets Control (OFAC) announced that EFG International AG (EFG), a Switzerland-based bank, had agreed to pay roughly $3.74 million to settle allegations that it had violated multiple U.S. sanctions regimes. Continue Reading Swiss Finance Company to Pay Almost $4 Million for Sanctions Violations

In 2023, U.S. export officials were busy bringing novel enforcement actions, introducing new and far-reaching rules, and issuing guidance (and warnings) to the exporting community. We can expect 2024 to be similar.

Join us for an insightful webinar where Thad McBride and Faith Dibble – international trade attorneys at Bass, Berry & Sims – will delve into the noteworthy enforcement actions of 2023.Continue Reading Join Us: 2023 Export Year in Review Webinar

I recently outlined key takeaways from the “2023 Year in Review” report issued by the U.S. Department of Commerce in early January for a Law360 article. As I explained in the article, the report “emphasizes specific actions and thus serves as a valuable indicator of priorities for BIS [the Bureau of Industry and Security] and other U.S. government actors involved in export compliance, in 2024 and beyond.”Continue Reading Key Takeaways from 2023 Export Enforcement Report