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.

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.

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.

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.

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.

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.

Importers Eye IEEPA Tariff Refunds After Supreme Court Ruling

Following a Supreme Court ruling that President Trump's IEEPA tariffs were unlawful, importers are seeking refunds. The administration plans to complicate the refund process, leaving the Court of International Trade to handle thousands of cases. The CIT has issued an initial order confirming importers' entitlement to refunds.

Export Control Complexity Grows with Technology and Geopolitics

This article discusses the increasing complexity of export control and sanctions regimes due to technological advancements and geopolitical shifts, using the UK as an example. It highlights that failure to comply with UK export controls can result in severe penalties, including fines and imprisonment.

SEC Exempts FPI Directors and Officers from Section 16 Reporting

The SEC has issued an order exempting directors and officers of certain foreign private issuers (FPIs) from Section 16(a) reporting requirements. This exemption is effective immediately and applies to FPIs incorporated in qualifying jurisdictions with qualifying regulations, ahead of the March 18, 2026 compliance deadline.

SEC Exempts FPI Directors/Officers from Section 16 Reporting

The SEC issued an order exempting directors and officers of certain foreign private issuers (FPIs) from Section 16 reporting obligations. This exemption applies to FPIs from qualifying jurisdictions with substantially similar regulations and provides relief ahead of the March 18, 2026, reporting deadline.