Trade Matters – Lowenstein Sandler’s Global Trade & National Security Newsletter…

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1. BIS announces plans to end categorization of emerging and foundational tech

On May 22, BIS announced in a proposed rule that it would cease efforts to characterize a particular technology as emerging or fundamental for the purposes of Section 1758 of the Export Control Reform Act of 2018. Instead, BIS will characterize any technology it identifies as “Section 1758 technologies” no longer distinguishing between emerging or enabling technologies. This change does not affect the determination of critical technologies for review by the Committee on Foreign Investment in the United States. BIS believes this new single categorization will allow it to review and enforce regulations more efficiently.

2. The logistics company’s OFAC reconciliation shows the need for an integrated compliance program

The Office of Foreign Assets Control (OFAC) recently announced a $6 million settlement with Toll Holdings Limited (Toll), an Australian freight forwarding and logistics company.



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