Law360, New York (January 05, 2012, 2:43 PM ET) -- The U.S. Department of Commerce said on Wednesday that FedEx Corp. has agreed to hand over $370,000 in civil penalties to settle allegations that it violated federal export regulations by facilitating the unlicensed export of certain products to banned locations.
The Memphis, Tenn.-based shipping giant allegedly committed six separate violations of the Export Administration Regulations, according to Commerce’s Bureau of Industry and Security.
“It is vital that every stakeholder in the U.S. exporting chain remain vigilant in its efforts to prevent prohibited transactions that may be...
FedEx Settles With Commerce Over Unlicensed Exports
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