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While OFAC's enforcement actions and guidance points to important steps exporters must take when relying on third-party distributors and other intermediaries, the "reason to know" and affirmative obligations to monitor resale and distribution of products to ultimate users does not appear to be unreasonable or
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Companies rely on robust distribution chains as an efficient mechanism to enter new markets without requiring a significant investment. Additionally, companies may maintain parallel sales activities in markets between their own sales staff and third-party distributors, agents, resellers and dealers. It is interesting how certain industries have evolved and
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Sorry to start a four-part series with a reference to music from our long-ago past. The Four Tops sang the "Same Old Song, with a Different Meaning" (released in 1965 -- Video Here). So, how does that relate to third-party risks? Well, bear with me here
Podcasts
Directive 2019/1937 of the European Parliament and Council dated 23 October 2019 on the “protection of persons who report breaches of Union law” (the “Directive”) is currently being implemented by EU Member States. The directive has broad applicability to organizations operating in the EU internal market and applies to
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On April 29, 2024, the U.S. Department of Commerce officially published a final rule in the Federal Register that formally incorporates a medical device license exception into the Export Administration Regulations (“EAR”) for certain commodities bound for the Russian Federation, Belarus, and occupied regions of Ukraine. New license exception
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By: Daniela Melendez, Associate at The Volkov Law Group, and Alex Cotoia, Regulatory Compliance Manager. Daniela can be reached at dmelendez@volkovlaw.com and Alex can be reached out at acotoia@volkovlaw.com. On April 24, 2024, the European Union (“EU”) officially adopted Directive (EU) 2024/1226 on the definition
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In this new aggressive era of sanctions and export controls enforcement, companies need to understand the potential risks that DOJ and/or OFAC may identify a company for sanctions investigation. In a global economy, investigators from various countries have built coordination procedures by which they share intelligence and possible leads
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No one was surprised when compliance and risk publications cited cybersecurity as the number one risk that corporations face today. While this is a relatively simplistic and head-line grabbing statement, the truth remains that corporate boards should have cybersecurity in their Top-3 List of corporate risks facing the
Podcasts
NAVEX continues to produce high-quality compliance reports, many of which are a must-read in the compliance industry. Its annual Whistleblower Report is of particular note -- NAVEX is the leading provider of hotline services in the world and its data is invaluable as a source of trends in this
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Over the last ten years, we have seen a marked shift from the Delaware Chancery Court chipping away at corporate board member liability claims. In a number of seminal cases involving Boeing airplane crashes (In re the Boeing Co. Derivative Litig., No. 2019-0907 (Del. Ch. Sept 7, 2021)), and
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Defendants often face a tough choice -- challenge the government's evidence and if convicted, face significant jail time. On the flip side, defendants who plead guilty and cooperate can earn significant sentencing reductions, even avoiding any jail time. The contrast between cooperating and non-cooperating defendants can be very
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On March 28, 2024, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) released updated guidance to freight forwarders specifically outlining their responsibilities under the aegis of the Export Administration Regulations (“EAR”). Issued in the wake of BIS’s Update Conference on Export Controls and Policy,