Articles Posted in Bureau of Industry and Security (BIS)

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Takeaways

  • On January 16, 2024, the Bureau of Industry and Security Office of Export Enforcement announced several updates to its VSD process aimed at enhancing the program’s overall efficiency and effectiveness.
  • These enhancements create a more streamlined disclosure process for minor violations, including through abbreviated narratives, quarterly bundled disclosures, and limiting the requirement to include a five-year lookback.
  • As the third VSD policy enhancement in as many years, BIS continues to incentivize and facilitate parties’ cooperation in the VSD program.

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https://www.globaltradeandsanctionslaw.com/files/2023/11/1200px-US-DOC-BureauOfIndustryAndSecurity-Seal.svg_-300x300.pngOn November 6, 2023, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) held a public briefing to address industry questions concerning the latest export controls on advanced computing and semiconductor manufacturing. The new controls, which BIS announced on October 17, 2023, update existing export restrictions related to advanced computing and semiconductor manufacturing equipment. The public briefing did not provide substantive updates to the October 17 announcements but offered context and indicated where BIS intends to issue additional guidance.

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