Last week, the Department of Treasury’s Office of Foreign Assets Control (“OFAC”) published a final rule in the Federal Register adopting the Iranian Financial Sanctions Regulations as required by the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (“CISADA”).…
The latest batch of civil penalties released by the Treasury Department’s Office of Foreign Assets Control (“OFAC”) has a real eye-opener. Alabama-based Compass Bank, a subsidiary of the Spanish global banking company BBVA, agreed to pay $607,500 to settle charges…
Last Friday, the State Department’s Directorate of Defense Trade Controls (“DDTC”) issued a Notice of a Proposed Rule that would eliminate the requirement for DDTC approval before a foreign licensee could transfer technical data about a licensed defense article to…
ABOVE: Alex Latifi According to an online report posted today on the Birmingham News website, the Department of Justice agreed to pay Alex Latifi $290,000 in restitution arising out the government’s unsuccessful prosecution of Latifi on criminal export charges. Latifi…
Tacoma-based Service Steel Aerospace Corp. recently agreed to pay a $12,000 fine to the Bureau of Industry and Security arising out of exports of titanium rods to Israel and Mexico. The company had voluntarily disclosed to BIS that it had…