At a conference held by the Bureau of Industry and Security, Commerce Secretary Howard Lutnick and BIS officials warned that enforcement of export controls was ramping up, and that a “dramatic increase” in activity and fines was coming. Key takeaways on “Red Flag Letters” and more inside.
Export control compliance is increasingly a concern for banks and financial institutions, not just exporters. So, for the first time, the Bureau of Industry and Security has provided detailed guidance for what controls it expects financial institutions to employ. Details, guidance inside.
Last week, the Bureau of Industry and Security at the U.S. Commerce Department imposed export controls on additional types of semiconductor manufacturing equipment. The package of new rules reinforces restrictions that were announced one year ago. Details, the rules, and context inside.
A new report, which analyzed more than 300 Chinese government AI contracts, states that the Chinese military “is frequently able to access or acquire technology from abroad, including from the United States.” Details, the report, examples, export-control gaps, and more are inside.
This week, two partners at a global advisory firm provide three steps that companies should take to prepare for increased CFIUS scrutiny on export control compliance. Hot tip: The worst time to learn of an export compliance failure is during a CFIUS review.