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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 11 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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In May 2019, the Department of the Treasury&rsquo;s Office of Foreign Assets Control (OFAC) published the <a href="https://www.treasury.gov/resource-center/sanctions/Documents/framework_ofac_cc.pdf" target="_blank" rel="noopener">Framework for OFAC Compliance Commitments</a> (&ldquo;Framework&rdquo;), which is intended to help organizations subject to U.S. jurisdiction, as well as foreign entities doing business in or with the United States, U.S. persons, or using U.S.-origin goods or services, to develop and implement an export control and economic sanctions compliance program (SCP). While acknowledging that each company&rsquo;s SCP will vary depending upon a variety of company-specific and risk&#8209;based factors, OFAC has indicated that any program should include, at a minimum, the following compliance components: (1) management commitment; (2) risk assessment; (3) internal controls; (4) testing and auditing; and (5) training.
Continue reading this client bulletin in <a href="https://www.thompsonhine.com/publications/us-agencies-stress-importance-of-corporate-compliance-programs-through-issuance-of-guidance-documents" target="_blank" rel="noopener">HTML</a> or <a href="https://www.thompsonhine.com/uploads/1345/doc/International_Trade_Update_-_Agencies_Stress_Importance_of_Corporate_Compliance_Programs_Through_Issuance_of_Guidance_Documents.pdf" target="_blank" rel="noopener">PDF</a> format.

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U.S. Government Agencies Stress the Importance of Corporate Compliance Programs Through the Issuance of Guidance Documents