- The policy memorandum builds upon two previous updates to the VSD process announced in June 2022 and April 2023. It gives direction to companies wishing to take advantage of certain faster processing options for VSDs.
- Cuts some requirements for submissions of minor or technical infractions of U.S. export controls to reduce the administrative burden associated with submitting such disclosures.
- Clarifies how BIS will handle requests from parties seeking to employ “corrective action” to mitigate the repercussions of an illegal export.
On January 16, 2024, the Bureau of Industry and Security within the Department of Commerce (BIS) issued a major policy memorandum of “further enhancements to our voluntary self-disclosure process” prescribed in the Export Administration Regulations (EAR).
Specifically, the memorandum details four improvements to the voluntary self-disclosure (VSD) process, which the Assistant Secretary for Export Enforcement, Matthew Axelrod, described in a subsequent speech detailing the improvements as a win-win for government and industry. He noted that the changes will not only help both the public and private sectors conserve finite compliance and enforcement resources but also “further drive prioritization … of your time—and ours—so that it’s spent on the most significant threats to our national security.”
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