New Guidelines Offer Important Insight Into DDTC Compliance Expectations, Law Firm Says
Companies should closely review the State Department's recently released compliance program guidelines to make sure their own programs are up to date, Hogan Lovells said in a December alert. The firm also said the guidelines, which outlined key elements of…
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an effective compliance program (see 2212060015), give the defense industry, universities and others involved in activities controlled by the International Traffic in Arms Regulations “insight into the regulator’s compliance expectations.” Because the guidelines are similar to those issued by the Bureau of Industry and Security and the Office of Foreign Assets Control, “organizations should expand their policies and procedures to confirm that these elements are captured if they engage in ITAR regulated activities,” the law firm said.