On 25 October, an article from Bass, Berry & Sims said that the Commerce Department’s Bureau of Industry and Security (BIS) had announced that it imposed a civil penalty fine against VTA Telecom Corporation for the unauthorised export of controlled commodities to Vietnam. Additionally, BIS is requiring VTA to improve its export control compliance efforts and retain a Director of Trade Compliance. Alternatively, VTA can dissolve or cease operations. VTA was found to have exported without the necessary licence computer processing chips, provided false statements to its US supplier and US Customs, and did so knowingly. The article says that what is notable about this matter is BIS’s requirement that VTA spend a specified amount of money developing an internal compliance programme (ICP) and designating a company official to oversee compliance with the EAR – or go out of business.
https://www.bassberrygovcontrade.com/bis-civil-fine-compliance-official
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