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ARTICLE · 18 JULY 2014

Settlements In Brief: AIG, Fokker And BNP Sanctions And Export Control Cases

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

De Brauw Blackstone Westbroek

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Cases with regard to sanctions and export control increasingly lead to enforcement action.

GlobalInternational Law
Roan Lamp
Roan Lamp
Patrick Ploeger
Patrick Ploeger
Marnix Somsen
Marnix Somsen
Rick Van ’T Hullenaar
Rick Van ’T Hullenaar
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Cases with regard to sanctions and export control increasingly lead to enforcement action. During the last few years, the list of enforcement actions and their severity has been growing. In light of these developments, companies are advised to take appropriate measures. This month we discuss a settlement reached with American International Group in the US, Fokker Services in the Netherlands and BNP Paribas in France. This month's settlements are a signal of the importance of effective oversight of any (foreign) subsidiary doing business with countries subject to economic sanctions and export control restrictions.

AIG settlement

American International Group Inc. (AIG), an international insurance and financial service organisation headquartered in New York, agreed to a USD 279,038 settlement after self-reporting to the US authorities that it violated the US Cuban Assets Control Regulations (CACR).

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