Businesses that learn about, but don’t disclose, potential export-control violations now face heightened penaltiesPhoto:.
Export controls restrict where U.S. companies can sell technologies with both commercial and military uses. The rules aim to prevent adversaries such as China, Russia and Iran from boosting their capabilities with advanced Western technology. They are administered by the Commerce Department’s Bureau of Industry and Security, which can bring civil penalties against companies that allow such “dual use” items to fall into the wrong hands.
The Commerce Department can reduce penalties for companies that own up to possible export-control violations. “When someone submits a [voluntary self-disclosure document], they receive concrete and identifiable benefits under our guidelines,” Mr. Axelrod said in the memo. “By the same token, however, when someone uncovers a significant possible violation but then affirmatively chooses not to file a VSD…the decision not to disclose will be considered an aggravating factor under our existing guidelines.”
The change in policy, according to Mr. Axelrod, applies to situations in which the Commerce Department has determined “there is a deliberate nondisclosure of significant possible violations.” Previously, companies were rewarded for coming forward, but not penalized if they didn’t.Our Morning Risk Report features insights and news on governance, risk and compliance.
I much more concerned with companies imposing DEI on its clients..
단속이라한다면 잘못은안된다는거야 난미래에도행복하고싶어우리모두가