BIS Leader Previews New Civil Penalties for Export Control Violations
The Commerce Department’s Bureau of Industry and Security’s (BIS) Assistant Secretary for Export Enforcement, Matthew Axelrod, sounded all the right notes at a speech to the Society for International Affairs on May 16th. Recognizing that adversaries like Russia and China advance their own interests at the expense of the United States, Axelrod previewed strengthened civil penalties from BIS designed to deter American firms from violating export control laws. The proposed new penalties include: BIS publicly disclosing which companies it investigates for export control violations when a case opens, not when it is resolved, often years later Forcing companies to admit wrongdoing if they are found to have violated export control laws Increasing financial penalties for violations These ideas are welcome… Read More