BIS: Quantum Corporation Fined $150,000 for Antiboycott Violations

Bureau of Industry and Security has imposed a civil penalty of ~$150,000 on Quantum Corporation for alleged violations of antiboycott provisions of the EAR. Quantum is a data storage, management, and protection company that received requests from a UAE distributor…

FTC: GameStop CEO Fined Nearly $1M by FTC for Violating Antitrust Laws in Wells Fargo Stock Purchase

The Federal Trade Commission announced 9/18 that the CEO of GameStop will be paying nearly $1m to settle charges that his acquisition of Wells Fargo shares violated the Hart-Scott-Rodino (HSR) Act. The CEO’s acquisition was above the threshold of HSR…

Treasury: Sanctions on Entities and Vessels Smuggling Iranian Oil and Gas to Syria and East Asia

Treasury sanctioned more than a dozen vessels and entities for their involvement in shipment of Iranian crude oil and petroleum gas to Syria and East Asia on behalf of Hezbollah and the Islamic Revolutionary Guard. Read More

CBP: Trade Compliance Partners Can Now Use FTZs for Goods Subject to Forced Labor Action

A new benefit for CTPAT has been implemented! Importers who are CTPAT Trade Compliance partners in good standing may utilize an FTZ for storage of goods subject to potential forced labor action. Read More

OFAC: New Rule Extends Retention Period to 10 Years

Office of Foreign Assets Control published an interim final rule changing recordkeeping requirements for certain transactions from 5 to 10 years. That’s consistent with the OFAC statute of limitations. This will be in effect March 12, 2025. Comments can be…

Value

Getting it right! Proper valuation is necessary to correctly calculate Customs duties, taxes, and fees. Star USA discusses different value calculation methods, related-party transactions, and how to document your work so that you’re prepared for any questions that might arise.…

Justice: Couple Charged in Alleged Scheme to Provide Services to Sanctioned Russian Broadcaster and Launder Funds, Including Ties to Sanctioned Oligarch

Virginia couple allegedly conspired to provide services to and receive money from a sanctioned Russian broadcaster (Channel One Russia), and then launder the funds. Both members of the couple are charged with one count of violating the IEEPA, one count…

BIS: Enforces New Controls on Critical and Emerging Technologies, Targeting Quantum Computing, Semiconductors, and Advanced Manufacturing

Bureau of Industry and Security published an interim final rule implementing controls on critical and emerging technologies, things like quantum computing, advanced semiconductor manufacturing equipment, gate all-around field-effect transistor tech, and additive manufacturing. Read More

CSMS: Compliance Reminders for Drawback Filers

Customs and Border Protection posted some reminders to drawback filers on how to stay in compliance with drawback claims, and reminded filers that noncompliant claims won’t get drawback, and the claimant can be subject to penalties. Read More

BIS: Streamlight Faces Civil Penalty for Antiboycott Violations

Bureau of Industry and Security announced a civil penalty against Streamlight (manufacturer or portable lighting products) to resolve violations of antiboycott provisions. Streamlight filed a VSD, cooperated, and implemented remedial measures. In 2019, they participated in a Bahrain trade show.…

USMCA

Finding opportunities in compliance! How well do you know the USMCA? We talk about navigating the intricacies of qualifying your products under the USMCA and how to make the most of its opportunities while avoiding common mistakes. Topics Include: Rules…

Justice: Alexis LLC Settles with U.S. Government Over Allegations of Underpaying Customs Duties on Imported Apparel

The US is resolving a civil suit by settling with Alexis LLC, a womenswear company, for underpaying customs duties on imported apparel. This is not an admission of liability by Alexis. It resolves claims that they violated the False Claims…