Staying abreast of government notices, rule changes and penalties given to peers is part and parcel of the daily life of an export control professional.
Here the IOE&IT Daily Update rounds up four important recent developments that anyone involved in export controls, licences and sanctions should know about this summer:
1) Multinationals should review India’s updated dual-use list
India’s dual-use list has been updated to come in line with international standards after the country signed up to the multilateral Wassenaar Arrangement in December 2017.
As part of the revamp, India’s control regime now has a far wider coverage of technology and software exports.
Multinationals trading with or from India should be aware of what these new rules mean, according to Kumar Visalaksh and Divya Jeswant from Economics Law Practice.
Read their article here.
2) New government guidance for UK academics
Academics and their institutions need to be aware of the new government guidance on export control regulations and licensing requirements for research and other academic activities, the board of the IOE&IT’s Export Control Profession has warned.
According to Brinley Salzmann, director for overseas and exports at ADS Group Ltd, individuals or educational bodies could “face penalties for unwittingly breaching” export control rules if new advice is not heeded.
Read more here.
3) Reduced penalties for SAP SE show benefits of self-disclosure
German software company SAP SE recently became the first company to benefit from a US Justice Department programme that encourages companies to self-report criminal export violations in exchange for leniency.
The firm had disclosed that it violated controls and sanctions relating to trade with Iran.
Read more about their case and what control professionals can learn from it here.
4) Italian firm fined for non-compliance with US controls and sanctions
A fine given to Italian gas boiler components producer Nordgas has shown the importance of compliance with US controls and sanctions – even if your firm is not based in the US.
The company was given a part-suspended fine of $950,000 after it was found to have violated the US Iranian Transactions and Sanctions Regulations (ITSR).
IOE&IT Export Control Profession chair Roger Arthey explains the importance of the case here.
Further support and guidance
Keep up-to-date with key developments in export controls by joining the IOE&IT’s Export Control Profession.
Membership with the profession helps individuals to:
- Obtain professional recognitionthrough designatory letters awarded for a rigorously accredited combination of experience and qualifications
- Gain professional and career developmentthrough a combination of qualifications and Continuous Professional Development options
- Obtain authoritative expert advice and guidance from a network of export control professionals
- Keep up-to-date with latest developmentsin export controls and sanctions through a range of regular and occasional communications and publications
- Connect with and share informationwith other export control professionals at local, regional, national and international forums