Trade Compliance

BIS Fines Teledyne FLIR $1 Million for Export Violations

The Bureau of Industry and Security (BIS) has fined Teledyne FLIR $1 million for 19 violations of the Export Administration Regulations (EAR), including miscalculating de minimis rules for exports to China and unauthorized exports to an Entity List address. The company must pay the fine within 30 days or risk losing export privileges.

DITC Enforcement Guide for Cayman Islands Entities

The Cayman Islands Department for International Tax Cooperation (DITC) has increased its supervisory oversight and enforcement activities. This guide explains DITC enforcement notices, common triggers for non-compliance, and strategies for responding to mitigate penalties and reputational risk for Cayman Islands entities.

Force Majeure in Gulf Construction Contracts Amid Iran Conflict

This client alert from King & Spalding discusses force majeure clauses in Gulf construction contracts in response to the Iran conflict. It outlines typical contractual regimes, legal implications, and provides practical advice for employers and contractors facing supply chain and logistical disruptions.

Trade Court Orders $166 Billion Refund of IEEPA Duties

The U.S. Court of International Trade has ordered U.S. Customs and Border Protection to refund approximately $166 billion in duties paid by over 330,000 importers under unlawful tariffs imposed via IEEPA. This follows a Supreme Court ruling invalidating the tariffs.

US Government Mobilizes War Risk Insurance for Middle East Commerce

The U.S. International Development Finance Corporation (DFC) will offer political risk insurance and guaranty products to stabilize international commerce and support businesses operating in the Middle East. This initiative aims to mitigate disruptions caused by conflict with the Iranian regime and stabilize the war risk insurance market.

SEC Adopts Section 16 Reporting Rules for Foreign Private Issuers

The SEC adopted final amendments requiring directors, officers, and 10% owners of foreign private issuers (FPIs) to file beneficial ownership reports on Forms 3, 4, and 5, effective March 18, 2026. The SEC also issued an order granting conditional exemptive relief for certain FPIs subject to substantially similar local reporting rules.

OECD Releases AI Due Diligence Guidance for Multinationals

The OECD has published new Due Diligence Guidance for Responsible AI, aimed at multinational enterprises involved in the AI value chain. This guidance complements existing OECD guidelines and aims to assist companies in implementing responsible AI practices and human rights policies.

Cross-Border ESI Transfers: Regulatory Challenges and AI Impact

This notice discusses the evolving regulatory challenges surrounding cross-border transfers of electronically stored information (ESI) for litigation. It highlights the complexities arising from data privacy laws, discovery obligations, and the impact of AI and cloud computing, with a panel discussion scheduled for March 11, 2026.

Court Orders Refund of Invalidated IEEPA Tariffs

The Court of International Trade (CIT) has ordered U.S. Customs and Border Protection (CBP) to halt liquidation of invalidated IEEPA tariffs and begin unwinding assessed duties. This broad order in Atmus Filtration, Inc. v. United States aims to provide relief to all importers of record, including those who did not file their own refund actions.

EU Commission Proposes Industrial Accelerator Act

The European Commission has proposed the Industrial Accelerator Act (IAA) to bolster the EU's industrial base, aiming to increase manufacturing's GDP share to 20% by 2035. The act targets challenges like high energy costs and regulatory hurdles, seeking to enhance resilience and strategic autonomy.