X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

General counsel face more government regulatory enforcement and tougher compliance requirements worldwide than ever before. In the United States, government agencies have noticeably increased their enforcement actions in the international trade law field, forcing companies to scrutinize and improve their corresponding compliance policies, procedures, and programs in light of the Foreign Corrupt Practices Act, export controls, customs, economic sanctions, trade remedies, and anti-boycott regulations. In effect, companies have been compelled to create and nourish a “culture” of international trade regulatory compliance—or else. In recent years, these prosecuting agencies—the Department of Justice; the Securities and Exchange Commission; the Bureau of Industry and Security (BIS) at the Department of Commerce; the Office of Foreign Assets Control (OFAC) and Internal Revenue Service at the Department of Treasury; Customs and Border Protection (CBP) at the Department of Homeland Security; and the Directorate of Defense Trade Controls (DDTC) at the Department of State—have assessed hefty civil and criminal penalties against those companies failing to have robust policies, procedures, and programs in place. To assist general counsel, here is a checklist of the top 10 best practices for strengthening companies’ international trade law compliance efforts:

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2017 ALM Media Properties, LLC. All Rights Reserved.