The “High Probability” Standard for Export Controls: Challenges and Opportunities for Internal Compliance
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FREE Webinar
CSS Credits: 1.25
Duration:
75 minutes
Speakers:
- Michael Huneke
- Sean Reilly
Moderator:
Date:
Time:
- 09:00 AM – 10:15 AM NYC
- 02:00 PM – 03:15 PM London
- 03:00 PM – 04:15 PM Amsterdam
Description:
Many U.S. companies are encountering difficulties in fully understanding and effectively applying the “high probability” standard within the current trade compliance landscape. Recent enforcement actions, combined with new guidance, have increased pressure on businesses to adjust their compliance programs, yet many are unsure of the exact steps they need to take to meet these heightened expectations. This uncertainty creates significant challenges for companies aiming to avoid potential penalties and maintain robust compliance practices.
What the webinar aims to cover:
- What is the “high probability” standard added to the EAR in 1996?
- How did BIS emphasize this standard in its July 10, 2024, enforcement guidance?
- What steps does BIS expect U.S. companies to take to comply with the standard?
- What lessons can be learned from the August 15, 2024, settlement with a U.S. company for $5.8 million, in which BIS emphasized the “high probability” standard?
- What opportunities does the standard present to U.S. trade compliance teams, drawing on the lessons from U.S. Foreign Corrupt Practices Act enforcement under the same standard?
- What should companies expect after BIS announced on September 12, 2024, the appointment of their first-ever Chief for Corporate Enforcement, whose responsibilities include working with the U.S. Department of Justice “to advance significant corporate investigations”?
- How does a “high probability” mindset help U.S. companies to also mitigate risk under the “reason to know” standard applied in OFAC enforcement?
Certificate of Attendance:
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Speakers
Michael H. Huneke
Hughes Hubbard & Reed
The Legal 500 has recognized Mike as a “voice of reason when it comes to compliance matters,” with clients’ feedback including that Mike “stands out for his multi-jurisdictional knowledge of compliance, pragmatism and efficiency in handling cases.”
Mike received Lexology’s Client Choice Award for Investigations-USA for 2022 and 2023. Clients’ feedback included that Mike “is always able to quickly respond to the client’s queries even on a short notice and provides guidance which is at the same time precise and compelling.”
Mike was also recognized as one of four Hughes Hubbard attorneys honored to receive Global Investigations Review’s (GIR’s) “Most Important Development in the Practice or Law of International Investigations” 2020 award on behalf of the firm and its Global Investigations, Enforcement and Compliance team for his representation of Airbus in its historic settlement to successfully resolve bribery and corruption allegations
Mike’s practice today focuses on helping companies and their compliance teams design and execute methodologies for identifying and mitigating export controls, sanctions, and anti-corruption enforcement risks.
Sean Reilly
Hughes Hubbard & Reed
Prior to joining Hughes Hubbard & Reed, Sean served as assistant to the secretary of the U.S. Department of Commerce and was director of the department’s Office of Policy and Strategic Planning. In this role, he acted as senior economic, international trade, export control and foreign policy advisor to Secretary Carlos Gutierrez. During his tenure in the Office of the Secretary, he worked with White House staff and other Cabinet agencies to develop and advance policies related to international trade, export controls, sanctions, national security, financial services, telecommunications, and technology, and he participated in the review of cases pending before the Committee on Foreign Investment in the United States (“CFIUS”). As chief of staff for Market Access and Compliance in the International Trade Administration, he managed more than 200 trade policy professionals charged with eliminating trade barriers and opening foreign markets for US exporters.
Moderator
Ivy Llena
ACSS
Before joining ACSS, she was a program director at a non-profit organization in the Philippines, where she co-designed and co-implemented economic empowerment programs and services for survivors of human trafficking and their families. Ivy also served at the Social Policy Institute at Washington University in St. Louis, where she led and contributed to inclusive economic growth initiatives.
Customer Testimonials
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