Date: 12 Sep 2017, 8:30 - 12:00
Host: Lundgrens, Tuborg Havnevej 19, Hellerup
This event was an update on the latest developments from Washington, following US Congress’ summer break
Agenda items included what’s new in the international trade world, developments in the ongoing “international trade war,” and the enforcement of US regulations impacting non-US companies, as well as tips for travelers, given the increasing level of searches of electronic devices upon entry to US.
Greg from Foley gave a great session covering what we can expect from the Trump Administration, the types of appointments that have been made so far (hardliners on international trade), and the continued hostile climate toward exports to the US, with aggressive enforcement to protect US interests. He listed the many tools which the Administration can use to curb international trade. While the focus IS on China, these cases pave the way to add other countries. He emphasized that companies should be prepared to respond and react quickly if hit with a case, with many suggestions on how to prepare.
In addition he covered the areas of US regulation of exports with greatest risk and highest fines, and the fact that enforcement activities are not lightening up. It is of critical importance to have your compliance programs and training up and running, and he is happy to send you their Risk Assessment Tool Kit, their International Compliance Guide, or their Guide to Conducting International Investigations.
Lundgrens followed up with a session on how to protect your company contractually against future trade restrictions, including a simplified process for how to identify whether your product will face export control restrictions, a list of EU sanctions currently in place, and how to review and update your customer, supplier, distributor/agent, financing and insurance agreements. They illustrated the compliance process they suggest that companies use. Christian Bredtoft Guldmann’s book Bestikkelse Og Korruption was mentioned as a source in Danish for a deeper understanding of Danish, English and American rules and legal practices, including for compliance, which Danish companies could learn from.
Martin from FLSmidth was the final speaker, bringing great examples of the practical coping mechanisms that the company uses, including how they are set up globally to manage compliance, how the training is done, the types of risks faced even by employees who are not American citizens, and the types of software solutions they use to manage automation of some of the tasks involved in screening for ownership, for example, and in documenting compliance.
Slides available to members on request.
Registration, coffee, networking
Einar Dyrhauge, Executive Director, Danish-American Business Forum
Coping Strategies for the New Administration: Dealing with the New International Trade and International Regulatory Environment
Greg Husisian, Partner, Foley & Lardner
Coping Strategies for Travelers: Dealing with Searches of Electronic Devices upon Entry into the U.S. and other Tips for Frequent Business Travelers
James Peterson, Partner, Foley & Lardner
Coffee and Networking Break
Protecting your Company Contractually against Future Trade Restrictions
Morten Rosenmejer, Partner, and Christian Bredtoft Guldmann, Partner, Lundgrens
Lesson and Strategies from a Danish Company
Martin Eger Larsen, Group Compliance & Export Control Specialist, FLSmidth
Wrapup and Q&A
Light networking lunch