Sanctions


Ward

Bob Ward on pros of targeted sanctions

2019-07-15T15:45:00+01:00By

Bob Ward, director of trade compliance at Wesco International, explains to columnist Tom Fox the benefits of targeted sanctions and how compliance practitioners can properly respond to such.

Sanctions

Five ‘essential components’ of a sanctions compliance program

2019-07-02T19:40:00+01:00By

Chief compliance officers got some much-needed guidance on how to build a well-crafted sanctions compliance program thanks to the recent OFAC framework.

FedEx plane

FedEx sues Feds over export control burdens related to Huawei dispute

2019-06-25T18:12:00+01:00By

Shipping giant FedEx is suing the federal government in an effort to reverse what it says are impossible to achieve compliance burdens imposed by the Department of Commerce.

TornContract

SEC overturns PCAOB action stemming from financial crisis

2019-06-19T13:45:00+01:00By

The SEC has canceled sanctions imposed by the PCAOB on a now-retired KPMG auditor connected with a mortgage lender failure at the height of the financial crisis.

Expedia building

Expedia settles with Treasury for violations of U.S. sanctions on Cuba

2019-06-14T16:28:00+01:00By

Expedia Group has agreed to pay more than $325,000 to resolve allegations that it violated U.S. sanctions on Cuba, the Treasury Department announced.

CRCC building

World Bank debars China Railway Construction, two subsidiaries

2019-06-10T14:52:00+01:00By

The World Bank announced the nine-month debarment of China Railway Construction Corp. and two of its subsidiaries concerning misconduct under a highway project in Georgia.

Veolia

World Bank debars French, Brazilian subsidiaries of Veolia Water

2019-05-29T19:39:00+01:00By

The World Bank has debarred two subsidiaries of Veolia Water Technologies for fraudulent and collusive practices during a bidding process under the Río Bogotá Environmental Recuperation and Flood Control Project in Colombia.

Treasury_Department_rear_view

Treasury issues Finding of Violation to State Street subsidiary

2019-05-29T19:17:00+01:00By

The U.S. Treasury Department has found that State Street Bank and Trust violated Iranian Transactions and Sanctions Regulations.

Huaweibldg

U.S. could ban all Huawei products

2019-05-16T19:59:00+01:00By

New moves from the Commerce Department suggest a full domestic ban on products from the Chinese telecom giant Huawei are forthcoming.

WorldBank

World Bank Group debars Sieyuan Electric

2019-05-14T17:07:00+01:00By

The World Bank Group has placed a 15-month debarment on Shanghai-based Sieyuan Electric relating to fraudulent practices under the Inter-Zonal Transmission Hub Project.

BankAustria

UniCredit Group Banks to pay $1.3B for sanctions violations

2019-04-17T20:03:00+01:00By

UniCredit Group Banks will pay total financial penalties of approximately $1.3 billion for processing hundreds of millions of dollars of transactions through the U.S. financial system on behalf of an entity designated as a weapons of mass destruction proliferator and other Iranian entities subject to U.S. economic sanctions, the Department ...

StandardCharteredFeature

Standard Chartered Bank to pay $1.1B for sanctions violations

2019-04-09T20:20:00+01:00By

Standard Chartered Bank, a U.K.-based financial institution, will pay a total of $1.1 billion in a global settlement for sanctions violations.

InternalAudit

New, tough regulator to oversee U.K. audit

2019-03-11T15:04:00+00:00By

The U.K. Financial Reporting Council will soon be replaced by a new regulator acting on recommendations from Sir John Kingman of the London Stock Exchange. The government hopes to ensure the United Kingdom going forward has “a world-class audit and accounting regulator.”

Huawei

Huawei sues U.S. gov. for ‘unconstitutional sales restrictions’

2019-03-07T20:42:00+00:00By

Controversial tech giant Huawei has filed a complaint in a U.S. federal court that challenges the constitutionality of government restrictions on its products.

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E3 moves to circumvent U.S. sanctions on Iran

2019-02-21T10:30:00+00:00By

The E3 has set up a special trade channel designed to allow companies in the European Union to circumvent U.S. sanctions in an effort to continue humanitarian trade with Iran.