- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2024-06-04T17:20:00
Satellite communications company Airbus DS Government Solutions received a reduced penalty from the Department of Commerce’s Bureau of Industry and Security (BIS) for admitting self-disclosed violations of antiboycott regulations.
The Texas-based subsidiary of Airbus U.S. Space & Defense was fined $44,750 for three violations of the antiboycott provisions of the Export Administration Regulations, the BIS announced Monday.
In November 2019, Airbus DS participated in a trade show in Kuwait. In connection with the event, it furnished to a freight forwarder/logistics provider a commercial invoice/packing list concerning proposed business relationships with boycotted countries or blacklisted persons, the BIS explained in its order. The information provided included certification that the goods were not of Israeli origin and not manufactured by a company on the Israeli boycott blacklist.
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The Commerce Department’s Bureau of Industry and Security issued guidance to academic research institutions on trends in voluntary self-disclosure to improve export control compliance.
Matthew Axelrod, assistant secretary for export enforcement at the Bureau of Industry and Security, addressed efforts to reach financial services firms, working with the Financial Crimes Enforcement Network, and more during his fireside chat at CW’s Financial Crimes Summit.
IT services company DXC Technology disclosed it received word from the Office of Foreign Assets Control and Bureau of Industry and Security that it won’t be penalized regarding potential Russian sanctions/export control violations it voluntarily self-disclosed in 2022.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
