Trade Compliance Trends and Expectations with Gabrielle Griffith

Corruption Crime & Compliance

Gabrielle Griffith, Director BPE Global, is an expert in trade compliance issues. Gabrielle assists clients in implementing effective trade compliance programs by addressing improvements within organizations’ people, processes, and systems. In the area of U.S. export controls, she advises clients on compliance with the International Traffic in Arms Regulations, the U.S. Export Administration Regulations, and the various embargo and sanctions programs administered by the Office of Foreign Asset Controls. On import compliance matters, she advises on classification, country of origin, special duty programs such as USMCA, focused assessments, C-TPAT, antidumping/countervailing duty as well as Section 232 and 301 matters. Gabrielle joins Michael to discuss current trade compliance trends and expectations for 2024.

• The increase in national security risk has heightened the need for creative thinking to identify potential threats that may not be designated within regulations. This means that companies must go beyond traditional compliance measures and think outside the box to proactively address emerging risks to national security.
• Global companies are facing unprecedented risks and challenges in today's economy, leading to a greater emphasis on robust ethics and compliance programs. These programs are essential for promoting positive corporate citizenship and mitigating legal and economic risks associated with corruption and crime.
• Trade compliance is no longer a silo within a compliance department but must be integrated into the entire operation of a company. This means that trade compliance considerations should be incorporated into all aspects of a company's business processes, from product development to supply chain management.
• The Department of Justice is ramping up efforts to prosecute companies for trade compliance violations, particularly in relation to national security. This increased focus on enforcement means that companies need to be proactive in ensuring compliance with export control regulations and other trade compliance requirements.
• Over-controlling trade compliance can hinder business operations while under-controlling can lead to violations. Finding the right balance is crucial. Companies should strive to implement effective trade compliance measures that align with their specific business needs, avoiding unnecessary restrictions while still ensuring compliance with applicable regulations.
• The government should collaborate more with industry consultants to bridge the gap between enforcement agencies and companies, ensuring effective communication and guidance. This collaboration can help companies navigate the complex landscape of trade compliance and provide valuable insights to regulators on emerging technologies and industry practices.

Resources

Michael Volkov on LinkedIn | X(Twitter)

The Volkov Law Group

Gabrielle Griffith on LinkedIn

BPE Global