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BAE Systems to pay $36m penalty after 104 violations of US arms export rules
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NEWSDECK ANALYSIS
The Arms Export Control Act and the International Traffic in Arms Regulations are US laws that govern the export and import of defense-related articles and services, with the goal of ensuring that sensitive technologies and equipment are not transferred to countries or entities that could pose a threat to national security. The laws are enforced by the US Department of State, which has the authority to impose penalties on companies that violate them. The settlement with BAE Systems highlights the importance of compliance with these regulations for companies involved in the global arms trade.
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Guardian Business
BAE Systems to pay $36m penalty after 104 violations of US arms export rules
State department says it has reached administrative settlement with company’s US arm to resolve breaches
The UK defence company BAE Systems is to pay a $36m (£26.7m) civil penalty after breaching US arms exports regulations more than 100 times.
The US Department of State announced on Thursday that it had reached an administrative settlement with the US arm of BAE to resolve 104 violations of the Arms Export Control A…
13 Aug, 17:35
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