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The Month in International Trade – April 2023

Client Alert | 5 min read | 05.08.23

Top Trade Developments

Crowell Speaks

This news bulletin is provided by the International Trade Group of Crowell & Moring. If you have questions or need assistance on trade law matters, please contact Jana del-Cerro, Anand Sithian, or Simeon Yerokun or any member of the International Trade Group.

Top Trade Developments

AG Tamara CAPETA Calls for The Extension of The EU FDI Screening Regulation Scope Ahead of The Regulation’s Revision

Tamara Capeta, Advocate General of the Court of Justice of the European Union, has given her opinion regarding the scope of the EU Foreign Direct Investment Screening Regulation. AG Capeta considers the Regulation to cover not only acquisitions by foreign (non-EU) investors, but also the acquisition of one EU undertaking by another, if the acquirer has third-country shareholding. AG Capeta’s opinion may foreshadow a revision of the EU FDI Screening Regulation.

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For more information, contact: Vassilis Akritidis, Jean-Baptiste Blancardi

New U.S. Department of Commerce Policy Further Incentivizes Disclosures of U.S. Export Control Violations

On April 18, 2023, the U.S. Department of Commerce Bureau of Industry and Security (“BIS”) released a memorandum entitled, “Clarifying Our Policy Regarding Voluntary Self-Disclosures and Disclosures Concerning Others” (the “April Memo”).  The April Memo highlights additional penalties and incentives to encourage exporters – and whistleblowers – to disclose potential violations of the Export Administration Regulations (“EAR”).  In a change of policy, BIS will now consistently treat a decision not to voluntary self-disclose significant violations of the EAR as an aggravating factor in the calculation of penalties.  The April Memo additionally reminds the regulated community that reporting another exporter’s violative conduct can act as a mitigating factor in future enforcement actions against the reporting party (even if the reported potential violations are unrelated to the future enforcement action).  Finally,  the April Memo calls out to the academic community (as opposed to just private sector exporters), as sharing a key role in identifying, preventing, and mitigating export control violations, in line with BIS’s initiative to encourage university compliance, namely through its Academic Outreach Initiative.

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For more information, contact: Jeff Snyder, Jana del-Cerro, Jeremy Iloulian, Kelsey Clinton

U.S. Customs and Border Protection (CBP) Release the Uyghur Forced Labor Prevention Act (UFLPA) Statistics Dashboard

After more than 6 months since the UFLPA went into effect in June 2022, CBP released its UFLPA Statistics Dashboard. The UFLPA Dashboard provides users a snapshot of the number of shipments that have been subjected to UFLPA-related reviews and enforcement actions. Per CBP, the Dashboard contains “data related to enforcement of the UFLPA,” covering data since June 21, 2022, the date when CBP began to enforce the UFLPA. CBP continuously updates the Dashboard on a quarterly basis.

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For more information, contact: John Brew, Martin Yerovi

Negotiations for The Indo-Pacific Economic Framework (IPEF) Continue in Singapore

The Office of the United States Trade Representative (USTR) and the U.S. Department of Commerce (DOC) have announced that they will send a U.S. delegation to Singapore in May 2023 for the third round of negotiations of the Indo-Pacific Economic Framework (IPEF). According to the White House, “the Indo-Pacific supports more than three million American jobs and is the source of nearly $900 billion in foreign direct investment in the United States.”

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Crowell Speaks

“Hot Topics in Sanctions,” 2023 Spring Virtual Advanced Conference – Global Trade Technology Controls in a New Era of Great Power Competition, Society for International Affairs, Online (May 8, 2023). Speaker: Jason Prince.

“New Risks in Sanctions,” Wall Street Journal Risk & Compliance Forum Webinar, The Wall Street Journal, Online (May 9, 2023). Speaker: Jason Prince.

“Sanctions: The #1 Foreign Policy Tool,” SIFMA AML 2023 – Anti-Money Laundering & Financial Crimes Conference, SIFMA, New York, NY(May 22, 2023). Speaker: Jason Prince.

“Crafting OFAC’s Russia Sanctions Strategy,” CFT Roundtable Series, Washington Institute, Washington, DC (June 5, 2023). Speaker: Jason Prince.

“Export Control Compliance,” 2023 ICPA Europe Conference, Amsterdam (May 16). Speaker: Carolyn Krampitz.

“Overcoming Business Challenges and Adapting to Change in a Rapidly Evolving Market,” Midwest SME Forum, Chicago (May 18). Speaker: Carolyn Krampitz.

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Insights

Client Alert | 3 min read | 11.19.24

Financiers Beware: UK Court of Appeal Holds Financiers Liable to Repay Commission Payments Paid to Brokers

In a recent UK Court of Appeal judgment in what is known as “the motor finance cases” (see Johnson v FirstRand Bank, Wrench v FirstRand Bank and Hopcraft v Close Brothers Limited, which appeals were all heard together), the Court has shone a spotlight on the issue of commissions paid by financiers to brokers and determined that, in some cases, they may be considered “bribes” under UK law. ...

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