The State Department is seeking public comments on an information collection involving registrations with the Directorate of Defense Trade Controls. Any person who manufactures, exports, temporarily imports or furnishes defense services, or who participates in certain defense brokering activities, must register certain information with DDTC. Comments are due by Nov. 4.
The Treasury Department issued a final rule this week that will make investment advisers subject to anti-money laundering and counter-terrorism financing requirements, which it said will close a loophole that allows criminal actors to hide money in the U.S. and sanctioned companies to access sensitive technology through investments in American firms.
Sandler Travis hired two trade lawyers and an import compliance specialist to expand its trade service offerings, the law firm announced Aug. 23. Lawyer William Marshall will focus on import and supply chain issues while Narges Kahvazadeh will provide legal counsel on export controls and sanctions. Regina Walton, a licensed customs broker, joined the firm as an auditor with a focus on import compliance matters.
The Bureau of Industry and Security on Aug. 13 suspended the export privileges of four people, including one for illegal integrated circuit exports to China, another for illegal weapons brokering, and two others for illegally exporting weapons or ammunition.
Alba Wheels Up announced Luis Eraña is its new CEO on July 30. Eraña, previously CEO of ProTrans, replaces Damien Stile, who will now be co-chairman of the customs broker and freight forwarder.
The Federal Maritime Commission continues to consider a request to delay its new final rule on demurrage and detention billing requirements, said Rich Roche, who chairs the Non-Vessel Operating Common Carrier Subcommittee of the National Customs Brokers & Forwarders Association of America.
A Massachusetts financial services firm agreed to pay a nearly $7.5 million penalty after the Office of Foreign Assets Control accused its subsidiary of revising dates on invoices to skirt certain financial restrictions on dealings in new Russia-related debt. OFAC said the company’s 38 violations of the Ukraine-/Russia-Related Sanctions Regulations involved more than $1.2 million worth of invoices for companies owned by Russia’s Sberbank and VTB Bank.
A dual U.S.-Ghana citizen made his initial appearance in a New York court July 16, a day after being extradited from the U.K. for his role in a scheme to bribe Ghanaian officials, DOJ announced. Asante Kwaku Berko is charged with one count of conspiring to violate the Foreign Corrupt Practices Act, one count of violating the FCPA and one count of conspiring to commit money laundering.
The Office of Foreign Assets Control this week sanctioned three accountants and four companies linked to a timeshare fraud led by the Mexico-based Cartel de Jalisco Nueva Generacion. OFAC, the Financial Crimes Enforcement Network and the FBI also issued a joint alert urging financial institutions to submit suspicious activity reports to FinCEN about transactions that may be tied to timeshare fraud in Mexico, along with several red flags to monitor.
The Census Bureau plans to soon issue a rule that could clarify regulations governing in-transit shipments that travel through the U.S. from foreign countries before being exported to another foreign destination.