Illinois Company Fined for Not Reporting Boycott Requests
The Bureau of Industry and Security has assessed a $26,350 penalty against an Illinois company for 31 violations of the anti-boycott regulations. BIS alleged that while the company was engaged in transactions involving the sale and/or transfer of goods or services to Bangladesh from 2005 through 2006 it received 31 requests to take an action that would have the effect of furthering or supporting a restrictive trade practice or unsanctioned foreign boycott. However, the company failed to report these requests to BIS. If the company fails to pay the prescribed fine, its export privileges may be suspended for a year.