EXPORT COMPLIANCE PROGRAMS​

 

Export Compliance Programs are governed by US laws and regulations that regulate and restrict the release of critical technologies, information, and services to foreign nationals within or outside of United States and other foreign Countries according to their respective foreign policies and national security risks.

 

According to the Bureau of Industry and Security (BIS);

 

“An Export Compliance Program scrutinizes pieces of information and individual decisions and builds them into an ordered, integrated system. It is a program that can be established to administer export-related decisions and transactions to ensure compliance with export regulation authority.”

 

These laws apply to all types of activities and also apply to virtually all fields of science and engineering and restrict both electronic transmissions of information and physical shipments. Export compliance program has a broad scope and is required by the US government to ensure companies comply with the export control policy for the dual-use of software, technology, and merchandise. Export Compliance Program includes international sanctions that restrict its activities within certain countries.

ICON's Export Compliance Risk Advisory Services

 

The growing use and sophistication of economic sanctions have made doing business on a global scale increasingly challenging. Financial institutions, multinational corporations, and shipping and manufacturing companies face a complex regulatory environment that can expose them to sanctions risk and result in significant monetary fines and long-lasting reputational damage. Identifying, understanding, and managing economic sanctions risk, therefore, is critical to safeguarding against negative outcomes.

 
ICON works with clients to address their most complex sanctions-related issues. Whether assisting a global shipping company to manage its sanctions risks when selling and shipping products to another country subject to U.S. sanctions limitations, or assisting an interbank broker-dealer in mitigating sanctions risk arising from transactions involving debt on secondary markets, or helping a bank or financial institution strengthen its Export Compliance Program, ICON's professionals bring a unique perspective and over 250 years of collective experience to each situation.

ICON's Achievements

 

ICON's team members have worked on sanctions at the highest levels of the United States Government, including at: 

  • The Treasury Department’s Office of Foreign Assets Control (OFAC), Office of Terrorism and Financial Intelligence (TFI), Office of Intelligence and Analysis (OIA), and the Office of Terrorist Financing and Financial Crime (TFFC)

  • The State Department’s Bureau of Economic and Business Affairs

  • The White House at both the National Security Council (NSC) and the National Economic Council (NEC)

  • In relevant committees within the United States Congress  

 

ICON's sanctions and export compliance teams draw upon deep expertise developed while working on sanctions matters at global financial institutions, global law firms, and multinational technology companies and use their diverse operational risk management expertise to help clients manage and enhance their global sanctions risk management programs, including OFAC and European Union (EU) sanctions compliance, amongst others.

 

Our experts bring a unique combination of experience and expertise to help clients navigate complicated and continually evolving sanctions regimes:

Sanctions Consulting and Guidance

 

Navigating the complexities of the various economic sanctions regimes requires the help of skilled practitioners to avoid regulatory scrutiny. ICON’s Sanctions Risk Advisory Services assist clients in identifying, assessing, and mitigating regulatory risks that arise from engaging in international business operations. Our team of experts conducts export compliance reviews to help investors and companies get a better understanding of sanctions risks in their portfolios and businesses, and helps to develop compliance frameworks and innovative mitigation techniques that limit risk while better positioning companies to take advantage of business opportunities. Our experts also provide clients with sanctions trend assessments, based on the ICON team’s unique insights, to assist with compliance, planning, and other forward-looking business processes.

 

Sanctions Investigations

 

When an economic sanction regulatory breach is suspected, ICON works with the clients and their counsel to investigate. Our sanctions professionals are experts in conducting sanctions-related investigations, including identifying and collecting the relevant documentary information, interviewing witnesses, analyzing shipping data, and analyzing financial records to trace transactions and the flow of money. Our independent reports of these investigations have been relied upon by counsel and regulators alike in connection with potential violations.

 

Regulatory Monitorships

 

The usage of designated independent observers to track, evaluate and monitor financial agencies comply with applicable regulations and regulatory decisions, like written commitment or a deferred prosecution agreement (DPA) and a non-prosecution agreement (NPA) or cessation and desist request, is gradually expanded by regulator entities, both US-based and non-US situated beyond the United States. ICON has wide expertise in the field of banking and other financial services and reputation or supervision of building, real estate, production, gambling, and casino sectors for businesses. In addition, it has an impartial management mechanism.

 

ICON is undertaking oversight and has the experience to manage a number of sanctions problems such as compliance with OFAC and sanctions, as part of the government mediation deal as a constructive mechanism or as a condition of not taking out criminal or civil proceedings.

 

ICON's Export Compliance Program

ICON services include certain steps that provide the wanted result and satisfy the client. These steps are purely followed physically by ICON to get the required outcome.

ICON's Export Compliance Program Includes;

  • Proper classification of Organization product.

  • Make the checks whether the destination country of export requires an export license or not.

  • Scrutinize all the parties participating in the export transaction, to make sure that these parties are not blacklisted, about their character (i.e. involved in drug trafficking or terrorism activities).

  • Indicates the use of the product is not harmful.

  • Conscious about deemed exports, as the exports undergo is according to the regulations of Export Regulations Authority.

  • Documents as per the requirements of the export regulation.

 

ICON's Methodology

 

ICON promotes the awareness of enhanced and changing threats within international sanctions and associated regulatory frameworks by regularly writing to key financial institutions, governments, and other stakeholders.

 

Our training in Export Compliance encourages a company-wide compliance culture and builds an elite team of financial fraud compliance risk managers within your organization who have the requisite professional experience, knowledge, judgment, and contextual awareness to handle evolving future risks.

 

ICON's Sanctions Experts Provide:

  • Learning and reference materials to key parties and stakeholders

  • Education for lawyers, shareholders, boards, and C suite management

  • Ongoing preparation, baseline assessments and certifications;

For decades, ICON has offered Export Compliance Program services to:

  • Special Purpose Federal State and Local Government Projects

  • Private Organizations and their Project Entities

  • International Organizations around the Globe

  • Private and Governmental Agencies

  • Construction Companies

  • Regulatory Authorities

  • Financial Institutions

  • Charter Schools

  • Joint Ventures

  • Corporations

  • Universities

  • Banks

 

Why ICON?

 

With ICON’s unparalleled subject-matter expertise and diverse experience, we are uniquely positioned to provide clients with a full suite of sanctions and financial crimes compliance services and to reduce or minimize the risks associated with engaging in commerce in this complex and globalized regulatory environment.

Call us today to learn more about Export Compliance matters at 540-874-2587

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© 2020 by ICON COMPLIANCE SERVICES LLC