This is the 10th article in a 12-part series, U.S. Regulation of Exports and International Conduct: A Compliance Primer, from Gregory Husisian of Foley & Lardner LLP. The first nine parts discussed The Pitfalls of Operating Abroad, Taking an Integrated Approach to Compliance, Basic FCPA Compliance Principles, Dealing with Third Parties under the FCPA, Dealing with Merger Issues Under the FCPA, Basic Export Controls Compliance Principles, Export Controls on Goods, Export Controls on Information and Technology, Economic Sanctions and Export Controls & Economic Sanctions Compliance.
Export control and economic sanction requirements have been around for years, but now are taking on increasing prominence in the wake of record-setting fines. This article provides a list of export controls and economic sanctions red flags. Priming employees to be alert to red flags such as these is an important bulwark against export controls and economic sanctions missteps.
For financial institutions, the primary concern generally is economic sanction red flags. For these institutions, the following red flags can indicate the need for further checking.
About the Author
Gregory Husisian is of counsel with Foley & Lardner LLP and has extensive experience in export controls, the Foreign Corrupt Practices Act (FCPA), and issues arising from international trade. Mr. Husisian is a member of the firm’s Government Enforcement, Compliance & White Collar Defense; Securities Enforcement & Litigation; and Appellate Practices.
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About the Author
Gregory Husisian is of counsel with Foley & Lardner LLP and has extensive experience in export controls, the Foreign Corrupt Practices Act (FCPA), and issues arising from international trade. Mr. Husisian is a member of the firm’s Government Enforcement, Compliance & White Collar Defense; Securities Enforcement & Litigation; and Appellate Practices. Mr. Husisian regularly advises clients regarding various export control issues under the Department of State’s International Traffic in Arms Regulations (ITAR) restrictions and the Department of Commerce’s dual-use regulations (EAR), as well sanctions/embargo issues under the Office of Foreign Assets Control (OFAC) regulations. His practice includes advising companies regarding risk-management, compliance, and licensing, and dealing with violations. The co-author of a legal textbook on the Foreign Corrupt Practices Act (FCPA), Mr. Husisian also regularly counsels both Fortune 500 and smaller clients regarding FCPA issues, including FCPA compliance, due diligence, enforcement, mergers and restructurings, and other issues relating to the application of the FCPA. Mr. Husisian also is the author of a treatise on the U.S. Regulation of Exports and International Conduct, which will appear in the forthcoming Thomson Reuters/West textbook entitled International Trade: Statutes and Strategies. This treatise will be the first comprehensive treatment of the area, and will include extensive chapters on export controls, sanctions, the FCPA, and the Anti-Boycott regulations, as well as chapters on compliance with each of these laws. It will include comprehensive, risk-based solutions for companies seeking to comply with these complicated laws. Mr. Husisian also counsels clients on a wide variety of international trade litigation matters, including antidumping and countervailing duty issues arising before the International Trade Commission and the Department of Commerce and other international trade issues, such as Section 332 investigations and GSP issues before the U.S. Trade Representative. An experienced court litigator, he also has represented clients in numerous trade appeals before the Court of International Trade and the Court of Appeals for the Federal Circuit, as well as in cases before NAFTA and U.S.-Canada Dispute Resolution Panels. Mr. Husisian is admitted to practice in the District of Columbia, the Court of Appeals for the Federal Circuit, and the Fourth and Fifth Circuit Courts of Appeals. Before entering private practice, Mr. Husisian clerked for the Honorable Jerry E. Smith of the Fifth Circuit Court of Appeals. Mr. Husisian graduated from Cornell University (B.A., double major, economics and government, with honors in law and public policy, 1987). He received his J.D. from Cornell Law School in 1990, where he graduated magna cum laude and was elected to the Order of the Coif. While at Cornell Law School, he was the managing editor of the Cornell Law Review and the national editor of the Harvard Journal of Law & Public Policy. Prior to joining Foley & Lardner LLP, Mr. Husisian was a partner at a national law firm, and of counsel at a large international law firm. He can be reached via email at GHusisian [at] foley [dot] com. You can read Mr. Husisian's contributions to CCI here.